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Press Dossier

By Date

20/09/2023

	Saudi economy to grow by 3.9% in 2024 as inflation stabilizes: OECD Affirming Saudi Arabia’s strong growth prospects in the near term, the Organization for Economic Co-operation and Development revealed that the Kingdom’s gross domestic product is expected to rise by 3.9 percent in 2024.
	Average wages in Saudi private sector surge by 45% in 5 years Saudi Arabia’s private sector has seen a 45 percent increase in average wages over the past five years, driven by the growth and economic reforms initiated under the Kingdom’s Vision 2030 programs according to a report from the National Labor Observatory.
	Oman’s jewelry exports record 104.2% growth, reaching $120m Oman’s jewelry exports more than doubled last year compared to 2021 as the sector pulled in 46.42 million rials ($120.57 million).
	Closing bell: Saudi main index rebounds to close at 11,070 Rebounding after two days of decline, Saudi stocks closed higher on Tuesday with the benchmark index climbing 34.73 points or 0.31 percent.
	Islamic Development Bank signs deal with UN bodies to boost food security, fight malnutrition In a significant step to boost food security and fight malnutrition in member countries, the Islamic Development Bank has signed a trilateral agreement with two UN bodies.
	UAE, Serbia initiate negotiations to sign free trade agreement The UAE and the Republic of Serbia have taken a significant step toward boosting trade, investment and private-sector collaboration by initiating discussions on free trade between the two nations.
	UAE In-Focus — Ministry of Finance closes $1.5bn bond offering, attracts 5-fold subscription In a bid to attract investments, the UAE Ministry of Finance has successfully closed its offering of $1.5 billion worth of 10-year US dollar-denominated bonds, set to mature in September 2023, as reported by the Emirates News Agency, also known as WAM.
	UAE: Ban on workers staying at construction sites is for their safety, says Abu Dhabi authority The Abu Dhabi City Municipality (ADM) has reiterated its decision to enforce the rule that bans workers' housing at construction sites, and requires them to be housed in designated labour accommodations.

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SAUDI LAWS

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