RIYADH: Saudi Arabia’s trade volume in October increased about 7 percent to SR178 billion ($47.45 billion) compared to SR167 billion in September, according to government data. The General Authority of Statistics reported that total merchandise exports in October saw a slight increase of SR15 million or 0.01 percent compared to the previous month. … Read more
RIYADH: When Saudi Arabia launched its ambitious roadmap for economic diversification in 2016, there was too much skepticism over its outcome, as the Kingdom had been reliant on crude oil for several decades. Seven years later, the Vision 2030 blueprint has not only facilitated the rise of the Kingdom’s non-oil sector but also fired up … Read more
RIYADH: Saudi Arabia’s private sector’s contribution to the country’s real gross domestic product increased 3.4 percent year-on-year in the third quarter of 2023, official data showed. The General Authority of Statistics revealed commercial enterprise added SR322.08 billion ($85.86 billion) to the Kingdom’s output in the three months to the end of September — a 45 … Read more
RIYADH: Saudi Arabia is prepared with 1,200 sites all across the country to initiate renewable projects, said the Kingdom’s energy minister. Prince Abdulaziz bin Salman disclosed the Kingdom’s plans while speaking at the second Digital Government Forum in Riyadh on Wednesday. The energy minister said: “We have 1,200 sites in various regions of the Kingdom … Read more
NEW YORK: Oil prices rose on Tuesday as attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels, according to Reuters. Brent crude futures rose 21 cents, or 0.27 percent, to $78.16 a barrel at 8:30 a.m. Saudi time. The front-month US West Texas … Read more
RIYADH: Saudi Arabia is set to host the 13th Arab Energy Conference in Riyadh in 2027. The decision was announced during the concluding statement of the 12th edition held in Doha, the Saudi Press Agency reported. This hosting opportunity reflects Saudi Arabia’s prominent role in the energy sector, regionally and globally. The decision aligns with … Read more
RIYADH: The UAE has agreed to initiate negotiations with Australia to establish a comprehensive economic partnership agreement, according to its foreign trade minister. Thani bin Ahmed Al-Zeyoudi announced in a statement on X, formerly known as Twitter, that the country is poised to enhance its global trade network by strengthening its ties with Australia. This … Read more