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Press Dossier   By Date  03/02/2025
KSA's military spending surges to $75.8bn
Saudi Arabia: Saudi Arabia’s military spending has increased at an annual rate of 4.5 percent since 1960, reaching $75.8 billion in 2024. This accounts for 3.1 percent of global defense spending, according to a senior official.
PIF-backed Derayah Financial Targets $1.5bn in IPO with share price up to 8$
Saudi Arabia: Saudi Arabia’s independent digital investment platform Derayah Financial Co. has set the price range for its initial public offering at SR27 ($7.20) to SR30 per share, valuing the company at up to SR7.49 billion.
KSA launches February ‘Sah’ savings with 4.94% return
Saudi Arabia: Saudi Arabia has launched the second round of its subscription-based savings product, Sah, for 2025, offering a competitive return of 4.94 percent for February.
Saudi Electricity to settle $1.5bn in historical obligations to the state
Saudi Arabia: The Saudi Electricity Co. will settle its historical obligations to the state, totaling SR5.687 billion ($1.5 billion), following an executive panel approving a final settlement of the disputed legacy amounts.
stc leads MENA telecom with $57.7bn market cap
Saudi Arabia: Saudi Arabia’s stc Group has emerged as the largest listed telecom operator in the Middle East and North Africa, with a market capitalization of $57.7 billion as of Jan. 28, according to a Forbes analysis.
Oman trade surplus hits 2% $18.5bn in November
Oman: Oman’s trade surplus rose 2 percent year on year by the end of November, reaching 7.14 billion Omani rials ($18.5 billion), up from 6.99 billion rials in the same period of 2023.
TA’ZIZ announces $1.7 billion award to build first methanol plant in UAE
United Arab Emirates: TA’ZIZ announced today an engineering, procurement and construction (EPC) contract award of $1.7 billion (AED6.2 billion) to SAMSUNG E&A for the construction of one of the world’s largest methanol plants in Al Ruwais Industrial City, Al Dhafra region, Abu Dhabi.
FTA corporate tax awareness initiatives reach over 15,700 participants in 2024
United Arab Emirates: The Federal Tax Authority (FTA) has announced that its corporate tax awareness initiatives have witnessed significant growth in 2024, with 15,713 participants benefiting from its awareness events.
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