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Press Dossier   By Date  28/05/2024
Saudi Arabia’s non-oil sector to grow by 4.8% in 2024: Riyad Capital
Saudi Arabia’s non-oil sector is projected to grow at a rate of 4.8 percent in 2024, driven by the Kingdom’s growth-oriented fiscal policy, according to an analysis.
Saudi Arabia’s Sports Boulevard doubles its existing investment fund to $533m
Private sector participation in the Sports Boulevard project is set to increase as the foundation behind Riyadh’s largest linear park plans to double its investment fund to SR2 billion ($533 million).
ADNOC to boost production target by 2030
The Abu Dhabi National Oil Co. plans to boost its local manufacturing target for critical industrial products to 90 billion dirhams ($24.5 billion) by 2030 in a bid to strengthen the UAE’s industrial sector and expand local manufacturing capabilities.
Saudi Arabia’s top banks see 8% earnings surge to $5bn in Q1
Saudi Arabia’s top 10 listed banks saw their earnings surge by 8 percent in the first quarter of 2024, reaching SR18.65 billion ($5 billion) compared to the corresponding period of the previous year.
Saudi Exchange approves listing of $12.08bn in govt debt instruments
Saudi Arabia’s stock exchange has approved the listing of SR45.28 billion ($12.08 billion) worth of government debt instruments submitted by the Ministry of Finance.
Digital trade activities in UAE to grow by 12.3% annually
Digital trade in the UAE is projected to grow at a compound annual rate of 12.3 percent from 2023 to 2028, fueled by the rise of “buy now, pay later” models and fintech systems.
Japan company Uhuru signs smart-city business pact in Saudi Arabia
Tokyo-based Uhuru Corp. has signed an agreement with Web Arabia, a technology company operating in Riyadh, to promote smart city-related business in the Kingdom.
Yanbu Royal Commission teams up with Skytower Investments for industrial projects development
Saudi Arabia’s Yanbu governorate is poised to see the development of several industrial projects following an agreement between its Royal Commission and Skytower Investments Ltd.
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