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  • Trump edges out Williams for Saudi Arabia title

    World number one Judd Trump won a dramatic final frame on the black to beat Mark Williams and lift the inaugural Saudi Arabia Masters title. The 35-year-old Englishman cleared up with a break of 72 to clinch the final 10-9 after Williams missed a red when 62 ahead. Trump, who was checking flights home at 4-0 down to Wu Yize in his first match of the tournament, claimed £500,000 for winning the first ranking event to be held in Saudi.

  • Construction licenses drive investment surge in Saudi Arabia; Egypt secures 30% of total share in Q2

    Construction permits led Saudi Arabia’s investment licenses in the second quarter of 2024, with 737 issued, representing 27 percent of the total, according to official data. Figures from the Kingdom’s Ministry of Investment quarterly report also revealed that this number represents a 32.1 percent increase compared to the same period last year. Saudi Arabia is aiming to increase foreign direct investment inflows by SR388 billion annually by the end of the decade, contributing 5.7 percent to GDP,  as part of its Vision 2030 economic diversification strategy.

  • Can Saudi Arabia Actually Afford Vision 2030?

    In other words, the suggestion that Saudi Arabia is in trouble because it cannot make the ends of its planned budget meet is accurate—up to a point. The megaprojects can be delayed, as they have been before when the price environment was sub-optimal. Money can also be drawn from international debt markets where Saudi bonds appear to enjoy substantial popularity, not unlike Aramco shares. Oil-dependent economies, it seems, still draw investors in, transition and non-OPEC output growth notwithstanding.

  • Al-Sisi, Saudi interior minister discuss bilateral relations, common challenges

    Egypt’s President Abdel Fattah Al-Sisi met on Sunday with Saudi Minister of Interior Abdulaziz bin Saud bin Naif bin Abdulaziz, and Minister of State and Member of the Saudi Cabinet, Essam Bin Saeed, in Cairo. The meeting was attended by Egypt’s Minister of Interior Mahmoud Tawfik, and the Saudi Ambassador to Egypt, Saleh bin Eid Al-Husseini

  • Saudi debt market growing rapidly, more issuance expected: FTA CEO

    The Financial Academy’s (FTA) CEO Mana Alkhamsan said that the debt and financial derivatives market in the Kingdom is witnessing rapid development and is expected to play a vital role in diversifying funding sources and improving liquidity.

  • Saudi Arabia’s non-oil economy grows 4.9% in Q2: GASTAT

    According to data from the General Authority for Statistics (GASTAT), and published by Arab News, the financial, insurance, and business services sectors surged 7.1 percent in the second quarter compared to the same period last year.

  • Hitting the beat: Why Anderson .Paak filmed ‘K-Pops!’ in Saudi Arabia’s AlUla

    Produced by US outfit Stampede Ventures with backing from Live Nation Productions, the comedy- drama project spent three days shooting in Saudi Arabia’s AlUla region in May 2024, taking advantage of the country’s attractive financial incentives, striking locations and increasingly skilled local crews.

  • Saudi Arabia executes three citizens for inciting terrorism

    According to the ministry, the three nationals were accused of “providing support to terrorist entities, communicating with them, adopting a terrorist approach that permits the shedding of blood, money, and honor, and inciting people to carry out terrorist acts with the aim of undermining the security and stability of society.

  • Saudi GDP declines by 0.3% in Q2 2024

    Saudi Arabia’s real GDP declined by 0.3% in the second quarter of 2024 compared to the same period in 2023, according to the General Authority for Statistics (GASTAT). Oil activities fell by 8.8% year-on-year (YoY), while non-oil activities increased by 4.9% YoY. Additionally, government activities grew by 3.8% YoY.

  • Saudi trades in US equities fall to $15.61B in Q2 2024

    Saudi investors executed sell and buy transactions on US equities of SAR 58.6 billion through capital market institutions in Q2 2024, a year-on-year (YoY) fall of about SAR 1.25 billion, or 2%. Saudi trades in US stocks through capital market institutions recorded a 6% decline (SAR 3.75 billion) from SAR 62.3 billion in Q1 2024, the Capital Market Authority (CMA) said in a report.