Week 07 – News Update from the Kingdom

Saudi Arabia’s National Development Fund, a 350 billion Saudi riyals (Dh342.7bn) investment vehicle, expects to finalise by April a strategy that will lay the framework for its co-investments in the kingdom’s infrastructure projects with private sector investors, its governor said. In other news, Russia’s RDIF sovereign wealth fund said on Wednesday that Russian and Saudi…
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Week 06 – News Update from the Kingdom

The General Authority for Zakat and Tax (GAZT) shared its experience at the Financial Digital Transformation Forum in Riyadh on Sunday. The authority discussed the challenges and solutions facing the ongoing digital transformation. In other news, more than 850 projects which are expected to cost over SR 600 billion are to be presented at the…
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Week 05 – News Update from the Kingdom

The Saudi budget is expected to support local gross domestic product (GDP) growth to exceed 2% by 2021, according to S&P Global Ratings. The ratings agency stated that growth will rely mainly on oil prices volatility, and the global and regional geopolitical and economic instability. In other news, Saudi Arabia’s Foreign Minister Faisal bin Farhan…
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Week 04 – News Update from the Kingdom

After five years serving as the United Kingdom’s ambassador to Saudi Arabia, Simon Collis, is leaving his post and will be replaced by Neil Crompton in February 2020. In other news, the Israeli government has announced that it will allow its citizens to visit the Kingdom for the first time although travel is limited to…
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Week 03 – News Update from the Kingdom

Saudi Arabia’s largest private healthcare operators plans an IPO next month. The deal will be the first IPO to come to the local market after Saudi Aramco raised more than $29 billion in December. In other news, Saudi Arabia is committed to reducing emissions and will increase the use of gas as fuel to generate…
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Week 02 – News Update from the Kingdom

The business outlook for Saudi Arabia’s non-oil private sector remains positive, despite showing the weakest improvement for five months, according to the IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI). Saudi Arabia’s Vice Defense Minister Prince Khalid bin Salman met with US Secretary of State Mike Pompeo in Washington where they discussed recent events in…
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Week 01 – News Update from the Kingdom

Saudi Arabia’s non-oil sector GDP stated a year-on-year growth of 4.3 per cent in third quarter of 2019 and a growth of 2.9 per cent in the second quarter of the year. The Royal Commission for Riyadh City has specified second quarter 2020 as the period for starting operation of the King Abdulaziz Bus Public…
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End of Year – News Update from the Kingdom

The Kingdom of Saudi Arabia and Kuwait signed an agreement to resume pumping at two major oilfields in a shared neutral zone. A report from MoU states that, Nike will support Saudi community sports groups, fitness programmes and explore further collaboration around existing sporting events. In other news, NEOM will require thousands of vocational jobs…
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Week 52 – News Update From the Kingdom

The Kingdom of Saudi Arabia has allocated SAR 12 Billion over the last few years in support of small and medium enterprises. A report from General Authority for Statistics demonstrated that the unemployment rate dipped to 5.5 percent in third quarter compared to 5.6 percent for the second quarter of the same year. In other…
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Week 51 – News Update from the Kingdom

The Kingdom of Saudi Arabia has released its budget for 2020 which will see an expenditure of 1.02 trillion riyals, compared to 1.05 trillion in 2019. Saudi Aramco, officially the world’s largest IPO, briefly reached a valuation of $2 trillion on its second day of trading on Thursday with shares reaching 38.7 riyals. In other…
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