RIYADH: All airports in Saudi Arabia that received passengers’ complaints in March resolved them on time, according to the General Authority of Civil Aviation. In its monthly classification for air transport service providers, GACA highlighted the performance of airlines and 13 airports based on traveler complaints filed during the third month of 2024. As per the … Read more
RIYADH: Foreign direct investment inflows to Saudi Arabia rose 17 percent in the fourth quarter of 2023 compared to the previous period, according to recent data. The analysis, released by the General Authority of Statistics, utilizes an updated approach characterized by heightened transparency and governance standards. FDI inflows were shown to have reached SR19.38 billion … Read more
RIYADH: Saudi Arabia has secured $13 billion in private sector investments for its tourism industry, aiming to distribute the costs involved in becoming a top destination, a minister said. According to Princess Haifa Al-Saud, the Kingdom’s vice minister for tourism, the investments are expected to increase the number of hotel rooms by 150,000 to 200,000 … Read more
CAIRO: Egyptian President Abdel Fattah El-Sisi has said that revenues from the Suez Canal have “decreased by 40 to 50 percent” so far this year due to attacks on shipping by Yemen’s Houthi rebels, according to Agence France Presse. The canal is one of the main sources of foreign currency for Egypt which is gripped by a severe … Read more
RIYADH: Saudi Arabia experienced an 11 percent increase in non-oil revenues, reaching SR457.73 billion ($122.06 billion) in 2023 compared to 2022, official data showed. The growth, primarily driven by increased taxes on income, profits, and capital gains, resulted in a 58 percent surge in these taxes, totaling SR38.64 billion, as reported in the fiscal year … Read more
RIYADH: Saudi Arabia’s National Debt Management Center concluded its riyal-denominated sukuk issuance for December at SR10.53 billion ($2.81 billion), marking an increase of 295 percent compared to the previous month. In November, Saudi Arabia’s sukuk issuance amounted to SR2.66 billion, while in October, it was SR3.98 billion. The offerings in December, with total bids received … Read more