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Saudi Arabia Railways transport 11 million passengers, 25 million tonnes of cargo in 2023
Saudi Arabia Railways transported more than 11 million passengers in 2023, a growth rate of more than 50 percent.
The company said on Wednesday that the total amount of cargo transported increased by more than 25 million tonnes, which…
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Saudi Arabia and Jordan sign cooperation deal to support SMEs
Saudi Arabia and Jordan have signed an agreement to enhance economic, commercial and investment cooperation in the small and medium enterprise sector.
They will work together to increase the exchange of expertise, and organize business…
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NEOM unveils members-only beach club Xaynor
Saudi Arabia’s NEOM on Wednesday announced a members-only beach club, Xaynor, located on the Gulf of Aqaba’s pristine coastline.
In a statement, the giga-project said Xaynor offers a new area where members can enjoy the shores of the…
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Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
Saudi Arabia’s non-oil exports, including re-exports, rose by 2.5 percent to SR22.6 billion ($6.03 billion) in November 2023 compared to the previous month, official data showed.
According to a recent release from the General Authority…
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MENA sees surge in IPOs led by Saudi Arabia
Saudi Arabia led the Middle East and North Africa initial public offerings, with 14 out of 19 listings occurring in the fourth quarter of 2023.
The MENA region witnessed a total of 48 IPOs during 2023, amassing $10.7 billion in proceeds,…
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Saudi banks expected to report strong credit growth in 2024: S&P Global
Banks in Saudi Arabia are expected to witness strong credit growth ranging between 8 to 9 percent in 2024, according to credit rating agency S&P Global.
The firm noted that corporate lending by financial institutions in the Kingdom…
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Defense Space Arena becomes key highlight of WDS
The World Defense Show 2024 opened its doors to visitors on Monday who took keen interest in the state-of-the art equipment and defense technology on display.
The Defense Space Arena, incorporating the Space Theater and the Defense Space…
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Saudi Arabia budget records surplus of $4.27bn in 2023 on lower Q4 expenditures
Saudi Arabia achieved a surplus of SR16 billion ($4.27 billion) in 2023, contrary to the Ministry of Finance’s estimate of a deficit of SR82 billion released in December.
While the Kingdom’s revenues came in at SR1.13 trillion, 5 percent…
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Egypt moves closer to set up 11 free zones to boost economy
Egypt is set to establish 11 free zones across different newly-built cities across the country to boost industrialization and attract foreign investments.
The country’s prime minister Mostafa Madbouly, chaired a special meeting to review…
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SASCO, EVIQ sign deal to propel EV infrastructure in Saudi Arabia
Saudi Arabia’s electric vehicle infrastructure is poised for improvement following a new agreement signed by the Saudi Automotive and Equipment Services Co.
In collaboration with the Electric Vehicle Infrastructure Co., the memorandum of…
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