This week, Saudi Arabia has approved new laws for commercial registration and trade names, aiming to streamline business operations and improve the overall working environment. The Kingdom’s trade industry witnessed 104,000 commercial registrations in the first quarter of 2024, marking a 59 percent year-on-year growth. This policy change results in business owners having a single registration, regardless of the number of activities or businesses they manage across the country.
In other news, Saudi Arabia’s non-oil exports surged by 19% to reach SR25.38 billion in July, compared to the same month of the previous year. According to the General Authority for Statistics, chemical and allied products led non-oil exports, accounting for 25.8% of total outbound shipments in July, marking a 1.3% year-on-year increase.
Economy, Budgets and Finance
Arab News: Saudi Arabia’s non-oil exports climb 19% in July. Read Here
Arab News: The European powerhouse Lombardy announces plans to increase Italian investments in the Kingdom. Read Here
Arab News: EV industry leader states KSA’s Electric Vehicle growth outpaces global trends by 10 times. Read Here
Arab News: Saudi Aramco and China National Building Material Group announce strategic collaboration. Read Here
Government & Royal Family
Arab News: Foreign Minister leads Saudi delegation to UN General Assembly session. Read Here
Arab News: Royal order approves basic law of King Salman Foundation. Read Here
Defence & Security
Zawya: Experts to address the role of AI and VR in security at Intersec Saudi Arabia. Read Here
Janes: Saudi Navy confirms acquisition of new 4×4 armoured vehicles, the Jais Mk 2. Read Here
Commercial
Arab News: Saudi Arabia approves new commercial registration and trade name laws. Read Here
Gulf News: KSA introduces industrial customs exemption. Read Here
Arab News: Saudi Arabia leads G20 in tourism growth with a 73% rise in international visitors. Read Here
Gulf News: Saudi Arabia opens new metals and mining facility in Jeddah. Read Here
Arab News: Riyadh conference empowers future climate innovation entrepreneurs. Read Here
Social
Arab News: Joy on streets of the Kingdom on 94th National Day. Read Here
Arab News: Saudi Arabia sets Guinness world record with virtual assistants show. Read Here
Saudi Gazette: Saudi Arabia to establish 10 private colleges. Read Here
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