| Saudi financial ecosystem hits $267bn milestone in 2024 in line with Vision 2030
Saudi Arabia’s financial ecosystem reached a record SR1 trillion ($267 billion) in locally managed assets in 2024, marking a significant milestone in its transformation under Vision 2030. |
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| Kuwait Codes 2nd cohort kicks off in partnership with Zain
Zain announced the launch of the second cohort of the 2025 edition of the Kuwait Codes initiative, part of its ongoing strategic partnership with CODED Academy. The new phase features the participation of over 300 high school students and aims to equip them with advanced digital skills to enhance their readiness for the future. |
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| BYD plans major Saudi expansion following Tesla’s market entry
Chinese electric vehicle giant BYD Co. is aiming to triple its presence in Saudi Arabia after Tesla Inc.’s recent market entry, the firm’s managing director for the Kingdom has announced. |
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| Boursa Kuwait marks key milestone in Capital Market Development Program
Boursa Kuwait on Sunday celebrated the launch of the second part of Phase III of the Capital Market Development Program, a major step forward in the ongoing modernization of Kuwait’s financial markets. |
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| Closing Bell: Saudi main index closes in red at 11,213
Saudi Arabia’s Tadawul All Share Index closed lower on Monday, falling 39.31 points, or 0.35 percent, to end the day at 11,213.59. |
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| Saudi PIF rises to 4th among sovereign wealth funds as assets surpass $1tn
Saudi Arabia’s Public Investment Fund has rise one place to 4th globally among sovereign wealth bodies, with assets surpassing $1 trillion, according to Global SWF’s July rankings. |
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| Majority Saudis use AI tools to make travel decisions: Survey
Saudi travelers are increasingly relying on smart technologies, with 87 percent using generative artificial intelligence tools like ChatGPT and Gemini to plan and manage their vacations, according to a survey. |
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| Closing Bell: Saudi main index ends lower at 11,253
Saudi Arabia’s Tadawul All Share Index slipped on Sunday, shedding 24.01 points, or 0.21 percent, to close at 11,252.90. |
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| Saudi financial ecosystem hits $267bn milestone in 2024 in line with Vision 2030
Saudi Arabia’s financial sector recorded exceptional growth in 2024, with fintech firms reaching 261, venture capital investment in the sector exceeding SR7.6 billion ($2.03 billion), and gross written premiums in insurance climbing to SR76.1 billion. |
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| Oman tourism revenues hit $5.5bn in 2024
Oman’s tourism sector contributed over 2.12 billion rials ($5.51 billion) to the Gulf country’s national economy in 2024, up from 1.75 billion rials in 2018, according to official data. |
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| ACWA Power-led consortium signs $8.3bn deals for massive renewable energy push
A Saudi consortium led by ACWA Power has signed agreements worth SR31 billion ($8.3 billion) to develop seven major solar and wind energy projects with a combined capacity of 15,000 megawatts, the Saudi Press Agency reported on Sunday. |
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| Kuwait unveils major capital market reforms to boost efficiency, attract global investments
Kuwait has introduced a central counterparty clearing framework, upgraded brokerage standards, and streamlined settlement systems as part of a sweeping reform to modernize its capital markets and boost investor confidence. |
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| Saudi Arabia issues over 1,300 new industrial licenses in 2024: Ministry report
Saudi Arabia has issued 1,346 new industrial licenses in 2024, attracting over SR50 billion ($13.3 billion) in new investments, a recent report revealed. |
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| GCC expats can now invest directly in Saudi main market
Residents of Gulf Cooperation Council countries, including expatriates, can now directly invest in Saudi Arabia’s main stock market for the first time, under new regulations announced by the Capital Market Authority. |
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| PAHW signs investment contract for commercial complex and health club
The Public Authority for Housing Welfare (PAHW) signed on Wednesday the investment opportunity contract (Q1) for the development of a commercial complex and a health club in the Al-Qairawan area, covering an area of approximately 12,500 square meters. |
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| Kuwait unveils pivotal capital market transformation program: Al-Kharafi
Reaffirming its commitment to building a more efficient, attractive, and globally competitive market that meets investor ambitions and aligns with international best practices, the Kuwaiti capital market apparatus has launched part two of the third phase of its comprehensive market development program (MD 3.2). |
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| Saudi money supply surges to $824bn as savers embrace high-interest deposits
Saudi banks’ money supply M3 reached SR3.09 trillion ($824.3 billion) in May, rising about 9.39 percent from the same period last year. |
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| CMA approves new rules to spur Saudi investment fund sector
Saudi Arabia’s Capital Market Authority has announced a package of regulatory enhancements aimed at strengthening the investment fund environment in the Kingdom, according to a press release issued on Wednesday. |
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| Saudi Arabia’s FII conference organizer plans IPO: report
Richard Attias and Associates, the organizer of Saudi Arabia’s Future Investment Initiative summit, is planning for a potential initial public offering, according to a report. |
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| Saudi POS spending up 5% in early July driven by hotel sector
Saudi Arabia’s point-of-sale transactions climbed 5 percent to SR14.3 billion ($3.81 billion) in the week ending July 5, driven by increased spending across multiple sectors. |
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| Saudi industrial output rises 1.5% in May on mining, manufacturing gains: GASTAT
Saudi Arabia’s industrial production expanded 1.5 percent year on year in May, driven by growth in mining, quarrying, and manufacturing activities, official data showed. |
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| Saudi chemicals group SABIC studying IPO of its gas unit
Saudi chemicals group SABIC said on Wednesday it was studying strategic options for its National Industrial Gases Company, including an initial public offering, amid a broad review of its business. |
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| Closing Bell: Saudi main index steady at 11,277; Nomu edges up
Saudi Arabia’s Tadawul All Share Index was steady on Thursday, as it marginally declined by 0.01 percent, or 0.82 points, to close at 11,276.91. |
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| Saudi PIF enters ‘post-trillion’ era with pivot from scale to substance
Saudi Arabia’s Public Investment Fund has surpassed $1 trillion in assets, marking a global milestone — but the organization is now pivoting from rapid expansion to a focus on solvency, strategic discipline, and sustainable long-term returns. |
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| Oman’s banking sector strengthens with 8% credit growth
Oman’s banking sector showed robust growth by May, with total credit rising 8 percent to 33.6 billion Omani rials ($87.36 billion) and deposits increasing 7.9 percent, reflecting strong private sector activity and confidence. |
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| Closing Bell: Saudi main index edges up to close at 11,315
Saudi Arabia’s Tadawul All Share Index closed higher on Sunday, gaining 71.28 points, or 0.63 percent, to end the session at 11,315.73. |
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| Saudi Arabia opens July Sah sukuk subscription with 4.88% annual return
Saudi Arabia has launched the July subscription window for its government-backed savings sukuk, “Sah,” offering an annual return of 4.88 percent—slightly up from June’s 4.76 percent. |
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| ACWA Power plans selective mergers to boost profits, secures $15.4bn in financing over 2 years
Saudi Arabia’s energy and water desalination giant ACWA Power has drawn investor attention regarding its expansion strategy, following the approval of its shareholders for a SR7.1 billion ($1.8 billion) rights issue. |
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| Saudi Arabia issues over 80k new commercial licenses in Q2 as business activity accelerates
Saudi Arabia issued more than 80,000 new commercial registrations in the second quarter of 2025, pushing the total number of valid business records across the Kingdom to nearly 1.72 million, official data showed. |
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| Saudi Arabia posts 4 years of VC growth despite global slowdown: report
Saudi Arabia achieved four consecutive years of growth in venture capital relative to its economy, a feat unmatched among its peers, according to a new report. |
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| Saudi Arabia crowns new technology unicorn
Saudi Arabia and the wider Middle East and North Africa region have witnessed a surge of startup funding rounds in recent weeks, underscoring the Kingdom’s pivotal role in driving technology investment and digital transformation across diverse sectors. |
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| Saudi Arabia’s $2.5tn mineral reserves fuel industrial push
Saudi Arabia is accelerating the development of its mining sector as a central pillar of economic diversification, with the Kingdom’s mineral wealth now estimated at SR9.4 trillion ($2.5 trillion). |
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| Scent economy rises as Gulf fragrances shape identity and status
In the Gulf, fragrance and its various perfume notes are increasingly seen not just as personal accessories but as symbols of identity, refinement, and wealth. |
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| Saudi PMI rises to 57.2 in June as non-oil sector hits 3-month high
Saudi Arabia’s non-oil private sector expanded at its fastest pace in three months in June, supported by rising domestic demand, accelerated hiring, and a pickup in purchasing activity, a survey showed. |
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| Saudi Arabia posts 4 years of VC growth despite global slowdown: report
Saudi Arabia achieved four consecutive years of growth in venture capital relative to its economy, a feat unmatched among its peers, according to a new report. |
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| Saudi Arabia’s POS spending climbs 24.4% to $3.6bn in final week of June
Saudi Arabia’s point-of-sale transactions climbed to SR13.6 billion ($3.6 billion) in the week ending June 28, marking a 24.4 percent rise compared to the previous seven-day period, according to the latest official figures. |
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| Qatar, Kuwait, UAE see steady June PMI growth; Lebanon slows decline
Business activity across Middle Eastern economies showed mixed trends in June, with Qatar leading growth, Kuwait and the UAE holding steady, and Lebanon remaining in contraction despite easing declines, market trackers showed. |
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| Saudi hotel occupancy rises to 63% in Q1 2025
Saudi Arabia’s hotel occupancy rate rose to 63 percent in the first quarter of 2025, up from 60.9 percent a year earlier, driven by seasonal events, pilgrimage traffic, and growing leisure tourism. |
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| Closing Bell: TASI closes the week in green at 11,244, climbing 1.03%
Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 11,244.45 points, marking an increase of 114.81 points or 1.03 percent. |
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| Saudi Power Procurement Co. signs $458m wind energy deal for Yanbu project
Saudi Power Procurement Co. has signed a power purchase agreement for the 700-megawatt Yanbu Wind Power Project, backed by an investment exceeding SR1.7 billion ($458 million). |
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| Gulf bourses end mixed on US tariff uncertainty
Stock markets in the Gulf ended mixed on Wednesday as investors monitored global trade developments ahead of the US’ potential re-imposition of sweeping tariffs on July 9. |
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| Saudi delegation in Tokyo for talks on GCC-Japan free trade agreement
Farid bin Saeed Al-Asali, the General Authority for Foreign Trade’s deputy governor for international agreements and organizations, is in Tokyo to lead the Kingdom’s delegation in the second round of negotiations on the free trade agreement between the GCC and Japan, which began on June 30 and will run until July 4. |
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| Saudi Arabia, Morocco set to boost economic ties with focus on trade, sustainable development
Saudi Arabia and Morocco are set to enhance economic ties by expanding trade and cooperation in agriculture, renewable energy, and sustainable development following a Saudi business delegation’s visit to Rabat. |
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| International visitor spending in Saudi Arabia hits $13bn in Q1
International tourists spent SR49.37 billion ($13.16 billion) in Saudi Arabia during the first quarter of 2025, a 10 percent increase compared to the same period last year, recent data showed. |
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| Closing Bell: Saudi main index inches up to close at 11,129
Saudi Arabia’s Tadawul All Share Index gained 8.04 points, or 0.07, to close at 11,129.64 on Wednesday. |
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| Ericsson to scale up graduate hiring, internships in Saudi Arabia, senior official reveals
Telecoms firm Ericsson is expanding its graduate hiring and internship programs in Saudi Arabia as it seeks to strengthen its regional footprint, a senior executive told Arab News. |
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| Saudi debt markets set to expand further on Vision 2030 reforms: S&P
Saudi Arabia’s domestic corporate bond and sukuk markets are set to gain further momentum, fueled by Vision 2030 investments and ongoing regulatory reforms, according to a new analysis by S&P Global. |
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| Saudi Arabia unveils ESG-focused non-profit for industry, mining
Saudi Arabia has launched a non-profit association to help industrial and mining enterprises adopt top sustainability, social responsibility, and governance standards, supporting the Kingdom’s economic growth. |
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| Closing Bell: TASI declines 0.38% to close at 11,121
Saudi Arabia’s Tadawul All Share Index declined 42.36 points, or 0.38 percent, to close at 11,121.60 on Tuesday. |
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| Most Gulf markets retreat ahead of vote on Trump’s tax bill
Most stock markets in the Gulf gave up early gains to close lower on Tuesday, as investors booked profits and turned cautious ahead of a US Senate vote on President Donald Trump’s landmark tax and spending bill. |