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Saudi industry minister to visit Brazil, Chile to explore lithium production
Bandar Alkhorayaf, Saudi Arabia’s mining and industry minister, will visit Brazil and Chile this week, the ministry said on Sunday.
In Brazil, he will hold meetings with officials to discuss expanding the Kingdom’s mining capacity, food…
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Alandalus Property commences $222m commercial center project in Makkah
Saudi holy city Makkah is set to see a boost in its commercial infrastructure with Alandalus Property Co. commencing construction on an SR831 million ($222 million) project.
In a statement to Tadawul, the Saudi-based real estate firm…
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IMF welcomes Saudi recalibrations on Vision 2030 projects
The International Monetary Fund has welcomed recent recalibrations and adjustments by Saudi Arabia on some of its megaprojects under Vision 2030.
“We are almost at a midpoint in the Vision 2030,” said Jihad Azour, the IMF director of the…
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Saudi home ownership rate passes 63%, closing in on Vision 2030 target
The percentage of Saudi households owning a home reached 63.74 percent at the end of 2023, an increase of 16.7 percent compared to 2016, according to a new report.
The Housing Program — one of the initiatives of the Kingdom’s Vision 2030…
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Saudi Arabia’s crude exports up 2.51 % to 6.12m bpd: JODI data
Saudi Arabia’s crude exports rose to 6.12 million barrels per day in May – up 2.51 percent compared to the previous month, data from the Joint Organizations Data Initiative revealed.
Data also indicated that the Kingdom’s crude…
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Saudi economic growth to outstrip global average in 2025: IMF
Saudi Arabia’s economic growth is expected to outpace the global average in 2025 according to the latest International Monetary Fund study.
The IMF’s World Economic Outlook update puts the Kingdom’s output increase at 4.7 percent next…
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Egypt achieves record primary surplus of $18.14bn in fiscal year 2023/24
Egypt’s budget recorded a preliminary surplus of 875 billion Egyptian pounds ($18.14 billion) for the fiscal year 2023/2024, compared to 164 billion during the previous period, a top official revealed.
During a Cabinet meeting chaired by…
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ACWA Power sells 35% stake in subsidiaries to China Southern Power Grid
Saudi utility firm ACWA Power has finalized deals to sell 35 percent of its stake in two subsidiaries to China Southern Power Grid International for SR595.9 million ($158.87 million).
In a statement to Saudi stock exchange Tadawul, the…
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Egypt’s exports rise 0.8% in April, reaching $3.3bn
Egypt’s petroleum, clothing, pastes, and food preparation exports led the country to a 0.8 percent year-on-year increase in foreign trade for April, reaching approximately $3.3 billion, according to official data.
The rise contributed to…
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UAE considers building second nuclear power plant
The UAE is considering building a second nuclear power plant to meet the growing demand for electricity in the Gulf state, a government official told Reuters.
The country of some 10 million people has become a proponent of nuclear power,…
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