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Saudi SME Bank drives economic growth with $267m disbursed since inception
Saudi Arabia’s Small and Medium Enterprise Bank disbursed SR1 billion ($267 million) between its launch in December 2022 and January this year, latest figures show. Official data from the Kingdom’s […]
Tourists’ spending in Saudi Arabia up 23% to $12bn
Tourism spending in Saudi Arabia saw an annual increase of 23 percent in the first three months of the year, hitting SR45 billion ($12 billion), according to new figures. Data released […]
Middle East carriers witness 15.3% air cargo demand growth in May: IATA
Middle Eastern airlines witnessed a 15.3 percent year-on-year demand growth for cargo in May, driven by growing e-commerce and maritime issues, an analysis showed. In its latest report, the International […]
Saudi Arabia to turn 3m tonnes of waste into fuel annually with new management project
Saudi Arabia is set to process approximately 3 million tonnes of municipal solid waste annually to produce refuse-derived fuels in six governorates following a new agreement. The new plastic waste management project, a […]
Saudi Local Content Coordination Council achieves 47% domestic content rate – latest figures
Saudi companies that are members of the Local Content Coordination Council sourced 47.22 percent of their purchases domestically in 2022, latest data showed. A statement released by the Local Content […]
PIF’s revenue soars 100% to $88.3bn, latest figures show
Saudi Arabia’s sovereign wealth fund has reported strong financial results for 2023, achieving revenues of SR331 billion ($88.3 billion) from its diverse investment portfolio, marking over 100% percent growth from […]
