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  • Saudi Arabia advances FinTech goals with Google Pay integration

    The Saudi Central Bank (SAMA) has partnered with Google to introduce Google Pay in Saudi Arabia through the national payment system “mada,” with the service set to launch in 2025. This collaboration is part of SAMA’s strategic efforts to enhance the Kingdom’s digital payments ecosystem in line with Saudi Vision 2030, according to FF News. By introducing advanced digital payment solutions, SAMA aims to reduce cash dependency, foster financial innovation, and establish a world-class infrastructure that aligns with global standards.

  • Saudi real estate prices up 3.6% in Q4

    Real estate prices in Saudi Arabia are trending upwards, with increases to residential, commercial and agricultural property prices in Q4 2024, according to the General Authority for Statistics (GASTAT).  GASTAT has released the Real Estate Price Index report for Q4 2024, showing a 3.6 per cent increase compared to Q4 2023, driven by: 3.1 per cent rise in residential property prices; 5 per cent increase in commercial property prices; 2.8 per cent rise in agricultural property prices

  • Saudi Arabia Joins the Hague System

    Saudi Arabia has joined the Hague System, expanding the geographical scope of WIPO’s international design system to 99 countries. As the largest economy in the Middle East, Saudi Arabia’s membership reflects the country’s commitment to innovation and strengthens the Hague System’s status as a global solution for securing design rights, paving the way for broader adoption in the region.

  • 60% surge in commercial registrations in 2024

    The Ministry of Commerce has reported a 60 percent increase in the issuance of commercial registrations in 2024 compared to 2023. According to the ministry’s report, 521,969 commercial registrations have been issued in 2024, compared to 368,038 in 2023. These included 368,038 registrations for establishments and 153,931 for companies. The registrations covered various economic sectors, with wholesale and retail trade, construction, accommodation and food services, and manufacturing industries leading the list. By the end of 2024, the total number of active commercial registrations across all regions of Saudi Arabia reached 1,606,169, the report pointed out.

  • Saudi Arabia to showcase $100bn aviation investment opportunities at WEF

    he investment showcase will highlight projects and incentives to unlock more than $100 billion of investment into the Kingdom's booming aviation sector across airports, airlines, ground services, cargo and logistics. As part of the more than $100 billion of investment opportunities, airports account for more than $50 billion, new aircraft orders around $40 billion, while the remaining $10 billion is comprised of other projects, including $5 billion in special logistics areas around the three main airports in Riyadh, Jeddah, and Dammam.      

  • Saudi agritech Arable closes $2.55 million Seed round

    Arable, a Saudi-based AgriTech startup co-founded by Lawrence Ong (CEO) and Christina Khalife (COO), with the collaboration of Executive Partners Marc and Anthony Eid, has announced the successful closure of a $2.55 million (SAR9.75 million) Seed funding round to pioneer sustainable hydroponic farming in the Kingdom. The round included participation from institutional and private investors, with 90% of the funding coming from foreign investors and being deployed within Saudi Arabia to advance the Kingdom’s agricultural sector.

  • Saudi’s thriving esports scene set for SAR 50 billion contribution to GDP

    The esports industry has seen rapid growth over the past decade, both in terms of viewership and revenue. The pandemic, and the lockdown that put global physical sports on hold at various junctures for two years, served as a further catalyst for the sector. The global eSports market is projected to grow from $2.06 billion in 2024 to $9.29 billion by 2032, according to PwC’s report. “Esports now not just a source of entertainment; it has evolved into a cultural and economic force that has led to the emergence of professional players, teams, leagues, and substantial cash prizes. Given Saudi Arabia’s strategic focus on youth engagement and talent development, the country is well positioned to take advantage of this growing momentum in the esports industry.”

  • Majority of UAE and Saudi Arabia professionals plan to switch jobs this year, LinkedIn says

    Three quarters of working professionals in the UAE and Saudi Arabia plan to look for a new job this year as they seek a better work-life balance and higher salaries, a new global poll of 22,010 employees by professional network LinkedIn has found. Professionals in marketing, education, finance, sales and media are most keen to look for new opportunities, while only 50 per cent of healthcare professionals are seeking new positions. However, more than half (51 per cent) said the job search became harder last year as the UAE recorded an influx of talent leading to a competitive job market, according to the survey.

  • Rewriting the economic playbook to fire-up new engines of growth

    Global growth is forecast to reach modest levels of between 2.7%-3.2% in 2025. At the same time, macroeconomic risks such as inflation, debt and uneven recoveries persist. On top of this, splintering trade ties, technological disruptions to business and labour markets and the complexities of the energy transition are reshaping the foundations on which growth has traditionally been built. As high-growth ambitions collide with the hard realities of the geoeconomic landscape, we need a clear and irreversible pathway towards inclusive, sustainable and resilient growth. Opportunities to rebuild and reimagine economic development models in the wake of both the global financial crisis of 2008 and the recovery from the COVID-19 pandemic were not fully grasped. Now, we are compelled to course correct. We will only draft a new economic playbook that succeeds if we double down on global collaboration, not if we turn away from it.

  • Saudi Crown Prince MBS Moves to Exploit Vacuum Left By Iran

    The oil-rich kingdom and its 39-year-old leader — who backed Aoun to get the presidency — are emerging as one of the biggest winners in the fallout of the 15-month conflict in Gaza, which has tilted the balance of power in the Middle East against its longtime rival Iran. As a fragile ceasefire deal came into effect on Sunday, Tehran’s influence has been crippled, for now: its proxies in Lebanon and the Palestinian territories decimated, its Syrian ally Bashar al-Assad deposed and its enemy Israel emboldened. Saudi Arabia is wasting no time filling the void. "This is a clash between an ambitious young man who realizes the world is changing and an elderly cleric clinging to an outdated ideology that brought him to power," says Mustafa Fahs, a Beirut-based commentator who hails from a clerical family critical of the Islamic Republic, referring to the Saudi crown prince and Iran's supreme leader Ayatollah Ali Khamenei, respectively.