Latest news and articles about Saudi economy from NEX English
The Saudi Public Investment Fund has unveiled ambitious plans to merge its investments in ports, railways, and shipping to form a massive logistics entity. This initiative aligns with Saudi Arabia's Vision 2030 to enhance the national economy.
Saudi Arabia is preparing to enter a decisive phase in achieving the goals of Vision 2030, focusing on enhancing economic diversification and achieving financial sustainability. This initiative aims to reduce reliance on oil and boost non-oil sectors.
Saudi Aramco announced a strong profit increase of <strong>25%</strong> in the first quarter of the year, driven by its strategy to diversify transportation routes through the East-West pipeline. This announcement comes amid notable fluctuations in the global oil market.
Saudi Aramco has reported record profits in the first quarter of the year, exceeding analysts' expectations due to a significant rise in oil prices driven by global conflicts. These results demonstrate the company's ability to adapt to economic challenges.
Saudi bank credit has shown significant growth, reaching approximately <strong>3.335 trillion riyals</strong> by the end of February 2026. This marks an annual increase of <strong>9.6%</strong> compared to the same period last year.
Saudi Aramco announced a net profit increase of 25.5% in the first quarter of this year compared to the same period last year, driven by rising oil and gas prices amid Middle East conflicts. This growth occurs as global markets face uncertainty due to the ongoing strife.
Venture capital firms in Saudi Arabia are actively raising funds and making investments despite regional turmoil. This commitment highlights the Kingdom's focus on fostering innovation and economic growth.
The rise in registered trademarks in Saudi Arabia indicates optimism from the private sector regarding future economic opportunities. This growth reflects a positive trend towards investment and economic expansion.
Mohammed Al-Rumaih, CEO of the Saudi Stock Exchange 'Tadawul', announced that the inclusion of local bonds in two global indices next year could attract over <strong>$10 billion</strong> in foreign investments. This move is crucial for enhancing liquidity in the local debt market.
The Saudi Financial Market has approved a capital reduction of up to <strong>77.8%</strong> for Kimanol. This decision is part of the company's efforts to restructure and improve its financial position.
The Business Confidence Index in Saudi Arabia saw a significant increase in April, reaching 54.5 points, indicating growing optimism in the business sector after a decline in March. This rise reflects a recovery in economic activity amid geopolitical tensions.
The Saudi Central Bank (SAMA) recorded a significant increase in its reserves during March this year, reaching <strong>1.86 trillion Saudi Riyals</strong> (approximately <strong>$496 billion</strong>). This marks the highest level of reserves since February 2020.
Saudi Arabia's capital expenditure has seen a remarkable growth of <strong>56.3%</strong>, marking the highest rate in three years. This increase reflects the Kingdom's strong investment direction as part of its economic vision.
Saudi cities attracted new local and foreign investments worth up to <strong>30 billion riyals</strong> last year, reflecting sustainable economic growth in the Kingdom. These investments are part of government efforts to enhance the investment environment and create job opportunities.
Today, Monday, May 4, 2026, gold prices in Saudi Arabia have seen a significant increase, particularly with 21-carat gold. This rise comes amid global market fluctuations and local economic impacts.
Small and medium enterprises (SMEs) loans in Saudi Arabia have seen a remarkable growth of <strong>33%</strong>, reaching <strong>$124.5 billion</strong>. This increase reflects the government's commitment to supporting the business sector and enhancing the national economy.
A report from the World Travel and Tourism Council indicates that Saudi Arabia will remain at the forefront of tourism growth in the Middle East, with an expected GDP contribution of $178 billion by 2025. The region's tourism sector is projected to grow at a rate of 5.3%, surpassing the global average.
A recent report reveals that the funding gap for small and medium enterprises (SMEs) in Saudi Arabia has reached approximately <strong>800 billion SAR</strong>. This gap poses a significant challenge to the growth of these enterprises, which are a crucial pillar of the national economy.
The Saudi General Authority for Competition has revealed suspicions of collusion in bids and tenders exceeding a value of <strong>509.67 million riyals</strong>. This raises concerns about the efficiency of public spending and its impact on the national economy.
The National Center for Palm and Dates reported that Saudi date exports reached <strong>1.938 billion riyals</strong>, enhancing its role in diversifying the national economy. Exports to the UK saw a significant increase of <strong>30%</strong> in 2025 compared to the previous year.
The camel auction held in Al-Ghazala, Hail region, has seen remarkable success, generating over <strong>3 million Saudi riyals</strong> and attracting around <strong>15,000 visitors</strong> in its first week. This event highlights the significance of camels in Saudi culture and the local economy.
Saudi Arabia announced that its non-oil GDP has reached <strong>55%</strong>, while the private sector recorded <strong>51%</strong>, reflecting the success of Vision 2030 in boosting economic growth. This achievement comes at a time when the country is witnessing a boom in small and medium-sized enterprises (SMEs) that play a pivotal role in this transformation.
Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Al-Khorayef, emphasized the importance of strengthening international partnerships to develop critical mineral supply chains during an international minerals conference. This initiative aims to support the Kingdom's industrial and economic transformation.
The Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, convened in Jeddah to commend the achievements of Saudi Vision 2030. The council discussed reports on local developments and accomplishments that strengthen the national economy and help it adapt to global changes.
The Saudi General Authority for Foreign Trade announced that its trade attachés have successfully secured 2221 new export opportunities and 393 new investment opportunities, reflecting the Kingdom's efforts to enhance its international economic standing.
The Saudi Basic Industries Corporation (SABIC) has authorized its board of directors to distribute interim semi-annual or quarterly profits for the year 2026 during its ordinary general assembly meeting. Additionally, Engineer Ibrahim Al-Buainain has been appointed as a non-executive member of the board.
The development financing system plays a crucial role in bolstering Saudi Arabia's economic growth, reflecting the Kingdom's commitment to achieving the goals of Vision 2030. This system aims to support small and medium enterprises and foster innovation across various sectors.
The Saudi Dairy and Food Company has unveiled its new expansion plans aimed at enhancing production capacity and broadening the distribution of its products in both local and international markets. This initiative comes in response to the increasing demand for dairy products.
The head of the Saudi Authority for Intellectual Property confirmed that intellectual property rights contribute to increasing business value by up to <strong>65%</strong>. These remarks come as part of efforts to enhance innovation and protect creative ideas.
Reports indicate that the percentage of women in senior and middle management positions in Saudi Arabia is expected to reach <strong>44%</strong> by <strong>2025</strong>. This reflects significant progress in women's empowerment as part of Vision <strong>2030</strong> aimed at enhancing women's roles across various sectors.