This week, The Ministry of Human Resources and Social Development and the Insurance Authority launched a new insurance scheme titled "Insurance Product" that aimed to protect rights of expatriate workers. The scheme will cover the dues of expatriate workers in the private sector in the event of default from their employers. The Insurance Product provided through insurance companies in the Kingdom, covers the payment of expatriate workers' dues if the establishment owners default on payment of wages.
In other news, Saudi Arabia’s e-commerce sector continues it’s upward momentum with 39,769 businesses registered in the third quarter of 2024, a 9.4% increase from 2023. This growth underscores the Saudi Arabia’s shift toward a diversified, digitally driven economy with e-commerce playing a vital role. Saudi Arabia now ranks among the top 10 countries worldwide for e-commerce expansion.
Economy, Budgets and Finance
Gulf News: Saudi Arabia’s e-commerce sector sees 9.4% growth in Q3 of 2024. Read Here
Arab News: Saudi Arabia’s petrochemical growth accelerates with strategic investments and Vision 2030. Read Here
Economy Middle East: Saudi Arabia’s non-oil GDP is expected to grow 5.5% from 2025 to 2027. Read Here
Arab News: Saudi Arabia secures over half of MENA start-up funding, amassing $165.34 million across 13 companies in September. Read Here
Government & Royal Family
Arab News: Saudi Minister of Industry and Mineral Resources visits US to boost ties in industry. Read Here
Defence & Security
Arab News: Saudi Arabia to boost public security with 3 new initiatives. Read Here
Arab News: All-women ranger team leads Saudi Royal Reserve’s 5,000th patrol. Read Here
Commercial
Arab News: Saudi Arabia adds 60 direct routes since launch of Air Connectivity Program. Read Here
Alarabiya News: Nintendo shares jump after Saudi Arabia considers upping stakes. Read Here
Arab News: Saudi Arabia’s cybersecurity market is poised for growth amid rising investments. Read Here
Zawya: Saudi’s Cenomi Centres, GIB Capital to set up a $266 million real estate fund. Read Here
Social
Arab News: Saudi Arabia’s hosting of the Olympic Esports Games 2025 underlines the Kingdom’s economic and social transformation. Read Here
Arab News: Saudi Arabia’s AI-ready workforce will power its digital economy. Read Here
Smart Water Magazine: Saudi Arabia launches major environmental and water infrastructure projects. Read Here
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