Saudi Arabia's 2024 economic growth forecast cut; UAE leads GCC

Saudi Arabia's economy will grow at a slower pace this year than previously predicted as oil prices drop from recent peaks, according to a Reuters poll which also showed the United Arab Emirates (UAE) ... Read More

Saudi Arabia Hits Milestone In Shift Away From Oil Economy

With Saudi Arabia’s non-oil sector reaching ... As a result, much of the non-oil sector’s growth last year was driven by private consumption in areas like entertainment, hospitality and tourism. Read More

Indicators Point to Saudi Economic Prosperity in 2025

Many indicators show that the Saudi economy is heading towards prosperity in 2025, based on data that made the International Monetary Fund (IMF) and the World Bank raise their expectations for the ... Read More

Saudi Arabia's non-oil business activity expands in March - PMI

Business activity expanded in Saudi Arabia's non-oil private sector on the back of strong ... expansion and potential business growth in the foreseeable future," said Al-Ghaith. Non-oil private sector ... Read More

Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability

The comments come as the West has stepped up criticism of China's dumping of cheap green products on the global markets. Read More

Saudi Arabia’s non-oil exports surge by 0.8 percent

Concurrently, the proportion of non-oil trade in the overall economy climbed to 35.8 percent ... This downturn in oil exports can be attributed to Saudi Arabia's strategic decision to curtail ... Read More

What Does Neom’s Downsize Means for Saudi Arabia’s Vision 2030?

Neom - part of Saudi Arabia's Vision 2030 strategy to diversify the economy and move away from oil reliance - is being built in the northwestern Tabuk province. Middle East Eye reported last year ... Read More

Humiliation for Saudi Arabia as £1TRILLION 106-mile long sideways skyscraper The Line shrinks to just 1% of planned size

PLANS to build an 106-mile long sideways skyscraper and transform Saudi Arabia's economy have been ... fiscal policy to support the kingdom’s non-oil economy and invest in projects like Neom ... Read More

A 'Dragon Ball' theme park is Saudi Arabia's latest attempt to become the world's playground. Some fans aren't happy.

The announcement comes as part of Saudi ruler Mohammed bin Salman's plans to diversify the Saudi economy ... accuses Saudi Arabia of using its huge investments in sports and entertainment to ... Read More

Oil-rich Saudi Arabia Scoops Up WTA Finals Tennis

Saudi Arabia will host the WTA Finals ... list of major sports events hosted by the world's biggest oil exporter as it tries to diversify its economy. Formula One, heavyweight boxing, horse ... Read More

Saudi Arabia may hike May crude oil prices to Asia

When the market is in backwardation, prompt prices are higher than those in future ... Saudi Arabia's Arab Medium and Arab Heavy, the sources said. Asian refiners' losses on high-sulphur fuel oil ... Read More