top of page

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


Commercial

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


Social

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

 

If you would like to be added to our weekly email distribution of this newsletter, please contact us.


Recent Posts

See All

Saudi News Update: Week 15

This week, the International Monetary Fund (IMF) officially opened its first regional office in Riyadh.

Comments


bottom of page