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Saudi News Update: Week 16

A businessman is staying up to date by reading the news on a tablet

This week, the General Authority for Statistics (GASTAT) issued a report showing a 2.8 percent growth in Saudi Arabia’s non-oil activities.

In other news, cashless payments are set to rise by 7.6% in 2024. The uptick comes amid the Saudi government’s push for a cashless society, where cash has traditionally been the preferred method of payment. This aligns with the more than SAR 4 billion that has been invested in local fintech companies with the push for digital transformation by the government. 


Economy, Budgets and Finance

Arab News:  Saudi Arabia’s on the frontline of battle against climate change. Read here

Saudi Gazette: GASTAT: Saudi non-oil activities record 2.8% growth in 1Q of 2024. Read here

Arab News: Saudi Arabia’s real GDP rises by 1.3% in first quarter: GASTAT. Read here

NEOM: NEOM secures SAR 10 billion financing facility as development powers ahead. Read here

Government and Royal Family

Al Arabiya:  US ‘very close’ to bilateral deal with Saudi Arabia as part of Israel normalization. Read here

Saudi Gazette:  Saudi Arabia and Mauritania sign MoU for energy cooperation. Read here

Asharq Al Awsat: WEF President Highlights Saudi Arabia's Development, Economic AmbitionRead here

Defence and Security

MEED: US approves $250m military training sale to Saudi Arabia. Read here

Arab News: Saudi FM discusses developments in Sudan with army chief, RSF leader. Read here


Arab News : Cashless payments in Saudi Arabia to rise by 7.6% in 2024. Read here

Arab News: Marriott International reveals that the majority of its leisure guests in Saudi Arabia are local. Read here

Arab News: Saudi Arabia’s fintech sector driving digital transformation. Read herehere


Arab News : Beast House sets off on a unique music mission in Saudi Arabia.  Read here

Arab News: Saudi Arabia, UNEP launch World Environment Day campaignsRead here

Arab News: Saudi jewellery designer dazzles at Saudi CupRead here


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