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  • Jadwa Investment Latest Chartbook Highlights ‘Improving Performance’ Indicators in the Saudi Economy
     

    The latest edition of the monthly Chartbook from Jadwa Investment finds economic indicators showed improving performance during the month of October this year, citing a “notable improvement” in cash withdrawals from ATMs and POS transactions. The Riyadh-based bank also noted an $8.2 billion increase (in month-to-month terms) in SAMA FX reserves for the Kingdom, to $493 billion in […]

     
  • No Big Outflow of Money from Saudi Arabia Yet as U.S. Treasury Monitors Situation – Reports
     

    There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey. In comments made to CNN and reported in Reuters, Al-Kholifey said Saudi Arabia is seeing “some increase, but it’s not that much,” and […]

     
  • Trump Tweets U.S. Interest for Aramco IPO, but can the NYSE Compete?
     

    President Donald Trump used his Twitter account to encourage Saudi Arabia to list shares of Saudi Aramco on the New York Stock Exchange (NYSE) as markets around the world compete for the sought-after listing. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United […]

     
  • Investors, Analysts with Mixed Interpretations After Wild Weekend in Saudi Arabia
     

    Investors and analysts are mixed in their reactions after a wild weekend for Saudi Arabia that put the Kingdom into the international spotlight. Within the span of just days, Saudi Arabia said it shot down a missile that nearly hit Riyadh’s international airport, launched a new corruption body that immediately arrested some of Saudi Arabia’s wealthiest international businessmen and […]

     
  • Saudi Arabia will Introduce Tourist Visas ‘Soon’, Tourism Authority Head Confirms
     

    Saudi Arabia plans to start issuing tourist visas “soon,” Prince Sultan bin Salman bin Abdul Aziz, head of the Saudi tourism authority, said in a statement according to several reports. Prince Sultan did not give an exact time frame. The Kingdom issues separate visas for the millions of pilgrims that visit Saudi Arabia each year for […]

     
  • KAPSARC’s New Headquarters Near Riyadh, Designed by Zaha Hadid Architects, Receives LEED Platinum Status
     

    The futuristic-looking new headquarters of the King Abdullah Petroleum Studies and Research Centre (KAPSARC) on the outskirts of Riyadh has received LEED Platinum certification—the first of Zaha Hadid Architects’ projects to receive the title. KAPSARC is a non-profit dedicated to studying energy and their environmental impacts. The new 230,000 square-foot campus comprises five buildings and cuts a striking figure against […]

     
  • Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
     

    Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]

     
  • Over 87,000 Business Licenses Issued to Saudi Arabia this Year – Report
     

    Saudi Arabia’s Ministry of Commerce and Investment issued over 87,000 business licenses to women in the last year as the Kingdom looks to increase female integration into the Saudi economy. The Ministry said it issued 87,575 commercial registrations for women “for businesses in various fields, including trade, manufacturing, communications, information technology, real estate, cleaning, tourism, restaurants […]

     
  • Saudi Economy Contracts as Production Cuts, Reforms Begin
     

    Saudi Arabia’s economy contracted by 1.03 percent in the second quarter of this year following a 0.5-percent contraction in the first quarter, according to reports, as participation in the OPEC oil production cut and disappointing growth in non-oil industries weighed on the economy. While the contraction in the economy is to be expected as OPEC and Russia seek […]

     
  • Saudi-based Restaurant Management Startup Raises $4m
     

    A restaurant management startup in Saudi Arabia has raised a $4m Series A investment as the Kingdom sees signs of life for new small and medium-sized enterprises (SMEs). Foodics, which is a Saudi-based company, offers an all-in-one iPad-based point of sale and restaurant management system. Foodics raised its venture funding from Saudi VC firms Raed […]

     

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