Saudi Arabia’s non-oil activities expanded 4.9% year-on-year in the second quarter of 2024, driven by gains in the financial and insurance sectors. According to data from the General Authority for Statistics the financial, insurance, and business services sectors surged 7.1% in the second quarter compared to the same period last year.
In other news, in a landmark move aimed at further boosting the tourism and hospitality sector, Saudi Arabia has decided to suspend the municipal service fees on issuing licenses for commercial activity of hotels, hotel apartments, and residential resorts.
Economy, Budgets and Finance
Arab News: Saudi Arabia’s non-oil economy grows 4.9% in Q2. Read Here
Saudi Gazette: The IMF hails Saudi Arabia’s unprecedented success in economic transformation. Read Here
Arab News: Construction licenses drive investment surge in Saudi Arabia with Egypt securing 30% of the total share in Q2. Read Here
Saudi Gazette: Saudi Arabia invites Chinese companies to invest in the automotive, food, pharmaceutical and aviation industries. Read Here
Government & Royal Family
Arab News: Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has begun his official visit to Hong Kong. Read Here
Defence & Security
Arab News: Saudi Arabia, and India discuss ways to bolster strategic defence cooperation. Read Here
Commercial
Saudi Gazette: Saudi Arabia waives municipal fees for licenses of hotels and resorts to boost the tourism sector. Read Here
Saudi Gazette: Saudi Arabia to waive export customs service fees and cut import customs service fees from the 6th of October. Read Here
Arab News: Saudi Arabia’s start-up ecosystem continues to gain momentum, with multiple companies across diverse sectors securing significant funding. Read Here
Social
Gulf News: Saudi Arabia announces four-day holiday for 94th National Day. Read Here
Arab News: Saudi Arabia takes major strides in cloud seeding to combat water scarcity. Read Here
Arab News: Saudi Arabia set to host International AI Olympiad. Read Here
Arab News: How Saudi Arabia’s healthcare sector is tackling medical waste to align with the Kingdom’s green vision. Read Here
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