S&P Global Ratings have revised its outlook on Saudi Arabia to positive from stable, and affirmed its 'A/A-1' long- and short-term foreign and local currency unsolicited sovereign credit ratings. The positive outlook reflects the potential for Saudi Arabia’s ongoing Vision 2030 reforms and investments to support the development of the non-oil economy while maintaining sustainable public finances. The revision acknowledges Saudi Arabia’s strong non-oil growth prospects and economic resilience despite volatility in the hydrocarbon sector.
In other news, Saudi Arabia’s new airline, Riyadh Air, began operating non-commercial flights ahead of its expected official launch. Scheduled to start operations in 2025 with plans to fly to over 100 destinations worldwide by 2030, Riyadh Air is estimated to add $20 billion to non-oil GDP growth and create more than 200,000 direct and indirect jobs.
Economy, Budgets and Finance
Arab News: Saudi Arabia’s inflation rate hits 1.6% in August. Read Here
Saudi Gazette: S&P Global Ratings revises Saudi Arabia's outlook to positive, affirming 'A/A-1' ratings. Read Here
Alarabiya News: The Kingdom’s trillion-dollar economy gains momentum, fueled by Vision 2030. Read Here
Government & Royal Family
Arab News: Saudi Arabia forms new business council to unlock investment with Eastern Europe. Read Here
Arab News: Financial sector key aspect of high-level Saudi Arabia and Germany talks. Read Here.
Defence & Security
Arab News: Saudi Arabia’s defence sector is ready to embrace the future, says Boeing top executive. Read Here
Commercial
Alarabiya News: Riyadh Air begins noncommercial flights ahead of its expected launch next year. Read Here
Arab News: The Saudi delegation meets the UK’s National Audit Office to boost cooperation and expertise of public sector auditing. Read Here
Argaam: Ministry of Industry aims to cut new project costs in Saudi Arabia. Read Here
Asharq Al-Awsat: Saudi Arabia signed an agreement with the Brazilian space agency at the G20 space economy leaders' meeting. Read Here
Social
Arab News: How AI is transforming Saudi Arabia’s tourism industry. Read Here
Arab News: Saudi Arabia calls for regional cooperation to tackle environmental challenges. Read Here
Alaraybiya News: Saudi Arabia will stage the first-ever Billboard Arabia Music Awards. Read Here
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