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Saudi News Update: Week 35


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

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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