Search result for: SAUDI ARABIA
Alibaba Group Holding, the Chinese e-commerce behemoth, intends to bolster its presence in the Gulf region by forging partnerships with local companies in Saudi Arabia and the UAE. Michael Evans, President of Alibaba Group, highlighted the company’s successful collaborations with the Gulf Cooperation Council during a panel session at Dubai’s World Government Summit. He emphasized […]
The UAE, Saudi Arabia, and Qatar maintain their positions among the top 10 emerging markets for logistics worldwide, with improvements or stability in key areas, while neighboring Oman, Bahrain, and Kuwait have witnessed declines in their rankings. In the 15th annual Agility Emerging Markets Logistics Index, which evaluates 50 markets globally for overall competitiveness in […]
Saudi Arabia’s flourishing tourism industry has reached a remarkable milestone, with the country’s balance of payments for tourism surging to an impressive $10.67 billion in the first half of 2023, reflecting a staggering 327 percent increase compared to the same period in the previous year. This extraordinary growth is a testament to Saudi Arabia’s commitment […]
Saudi Arabia is taking significant steps to diversify its economy away from its traditional dependence on oil. In an effort to achieve a more balanced economy with crops that offer higher economic returns, the country has set an ambitious target of planting 1.2 million coffee trees by 2026, as reported by the Saudi Press Agency. […]
The Ministry of Investment in Saudi Arabia has introduced a mechanism to grant premium residency to executives based at regional headquarters, as part of the country’s ongoing efforts to enhance its business environment. This initiative is a collaborative effort with the Premium Residency Center, according to an official release. In its pre-budget statement for 2024, […]
Saudi Arabia has adjusted its growth projections and is now anticipating a budget deficit for this year, instead of the earlier expected surplus, as indicated in a preliminary budget statement released by the Ministry of Finance. The largest economy in the Arab world expects the real gross domestic product (GDP) to expand by a modest […]
Riyadh, September 28, 2023 – Saudi Arabia’s relentless pursuit of Vision 2030 goals has begun to yield promising results, with the nation’s overall unemployment rate declining to 4.9 percent in the second quarter of this year. This marks a significant reduction of 0.2 percentage points compared to the previous quarter, according to official data released […]
Saudi Arabia’s real estate sector has become a focal point of interest for investors from the UAE, according to a prominent developer based in Abu Dhabi. Suwaidan Al-Dhaheri, CEO of IMKAN Properties, expressed his views on the sidelines of the Future Hospitality Summit, emphasizing the Kingdom’s untapped potential in the real estate landscape. “Saudi Arabia […]
The lord mayor of the City of London, Nicholas Lyons, praised the remarkable efforts of Saudi Arabia and other Gulf countries in their pursuit of cleaner and more sustainable economies, describing them as “world-leading” in their endeavors. His comments were made during his visit to the Kingdom and the UAE earlier this year, with upcoming […]
In a significant declaration of its dedication to nuclear energy, Saudi Arabia has pledged to adhere to a comprehensive international safeguards framework, firmly upholding the Kingdom’s principles of transparency, reliability, and safety. The announcement was made by Saudi Minister of Energy, Prince Abdulaziz bin Salman, during his address at the 67th General Conference of the […]