NEWS

Saudi Arabia’s non-oil private sector has reached its highest level since December 2017 as confidence in the Kingdom starts to return, reveals data published by the Emirates NBD Purchasing Managers’ Index (PMI).   The survey shows that the Kingdom’s private sector’s new order growth accelerated to its fastest since April 2015. According to Khatija Haque, head […]

Saudi Aramco’s debut bond sale orders have reached $100 billion, far exceeding previous highs for a bond issue by an emerging market entity, indicating that global investors are confident  than ever to invest in the Kingdom. The world’s largest oil company is planning to raise $12 billion from the $100 billion demand at its first international […]

Saudi Arabian Mining Company Ma’aden plans to boost its gold output from 415,000 ounces this year to one million by 2025, announced Chief Executive Officer Darren Davis in an interview. This would transform Saudi Arabia from a marginal gold producer to one of the world’s top-20 suppliers in a few years.   As part of a […]

The Saudi Human Resources Development Fund’s (HADAF) “Wusul” program, launched to support the transfer of working women, is ensuring that female employees working in Saudi Arabia’s private sector are being given up to SR800 per month to cover the cost of their travel to and from work.   The scheme covers 80 percent of working […]

International artists will be able to take residency in Saudi Arabia as part of a new”cultural residency” program, the Kingdom’s Ministry of Culture said during an event in Riyadh.   The residency scheme is one among a series of initiatives announced at the launch of the Ministry of Culture’s vision and strategy for future. Other major […]

Custodian of the Two Holy Mosques King Salman announced four mega-entertainment projects named as King Salman Park, Green Riyadh, Sports Track and Riyadh Art in the capital city worth $22.9 billion during a Cabinet meeting, the Saudi Press Agency (SPA) reported. In line with the objectives of Vision 2030, the projects are expected to generate […]

Saudi Arabia is witnessing a rebound in construction activity due to headline infrastructure workloads increasing,according to the latest Middle East Construction and Infrastructure survey report published by RICS.   During the fourth quarter of 2018, contributors reported an improvement in operating conditions in the Kingdom and attributed the increase in infrastructure workloads as wide-ranging with water and […]

The Ministry of Labor and Social Development has announced a four-day holiday for private sector employees for both Eid Al-Fitr and Eid Al-Adha festivals through its official Twitter account. According to the Umm Al-Qura calendar, Ramadan 29 will be the last working day before the commencement of Eid Al-Fitr holidays while Eid Al-Adha holiday will commence on Dhul Hijjah […]

Saudi Arabia announced plans to offer special “event” visas to foreign travelers for attending sporting events, concerts and business attractions as the oil-dependent country is taking steps to diversify its economy and become a major global tourism destination. Saudi embassies and consulates will be able to issue visas within 4 hours of receiving a request, the Saudi Cabinet […]

The Saudi Arabian Monetary Agency (SAMA) has announced that it is developing an integrated payment environment to link traders, customers and service providers to complete payments through the same platform regardless of service provider. Ahmed Alkholifey, the Governor of SAMA, said that SAMA is focusing on reducing the dependence on cash circulation through continuous development […]