Saudi banks’ mortgage lending surges to near 3-year high of $2.7bn
Saudi banks issued SR10.06 billion ($2.7 billion) in new residential mortgages in November, a 51.23 percent increase compared to the same month last year, according to recent data. Figures from […]
Saudi Arabia’s unemployment rate hits 3.7%: GASTAT
Saudi Arabia’s unemployment rate dropped to 3.7 percent in the third quarter of 2024, down 0.5 percentage points from last year, official data showed. According to data released by the […]
Saudi Arabia’s net FDI rises by 37% to over $4bn
Saudi Arabia’s net foreign direct investment saw a quarter-on-quarter rise of 37 percent in the three months to the end of September, according to the General Authority of Statistics. Data […]
KSrelief continues food aid projects globally
KSrelief, Saudi Arabia’s aid agency, continues to provide food assistance to vulnerable populations in several countries. KSrelief distributed 500 cartons of dates on Thursday in the Red Sea State of […]
Saudi Arabia’s oil legacy fuels shift to renewable energy hub
Saudi Arabia’s established prowess in crude oil production could help the Kingdom emerge as a global leader in the renewable energy sector, experts suggest. Paul Sullivan, an energy and environment […]
Saudi non-oil exports jump 12.7% to $6.76bn in October: GASTAT
Saudi Arabia’s non-oil exports surged 12.7 percent year on year in October, reaching SR25.38 billion ($6.76 billion), underscoring the Kingdom’s push to diversify its economy away from oil dependence. According […]
IMF staff-level agreement set to pave way for $1.2bn funding for Egypt
Egypt will potentially have access to around $1.2 billion from the International Monetary Fund, following a staff-level agreement under the Extended Fund Facility. The agreement, which is subject to approval […]
‘FOMEX 2025’ set to kick off on February 19
The third edition of Future of Media Exhibition (FOMEX), the region’s largest exhibition specializing in media and digital production technology in the Middle East, is set to take place from […]
Spanish group Ayesa wins PMC contract for big Aramco stadium
Ayesa, a global provider of technology and engineering services headquartered in Spain with offices in 23 countries, has been awarded the project management consultancy (PMC) contract by Saudi oil giant […]
Aramco secures prime ratings for $10bn commercial paper program from Moody’s and Fitch
Saudi Aramco’s robust financial standing has been reaffirmed by Moody’s and Fitch, with the agencies assigning strong ratings to the energy giant’s newly established $10 billion US Commercial Paper Program. […]
