Businesses surveyed for the IHS Markit Saudi Arabia Purchasing Managers’ Index linked higher sales to a continued return to normal economic conditions and a boost to tourism from relaxed travel measures
Saudi businesses
business licenses
Saudi Arabia grants nearly 600 foreign investor licenses for summer 2021
A total of 174 licenses were issued for the retail and e-commerce sector, with manufacturing (104), construction (87), ICT (52), and professional and scientific (50) sectors, accounting for more than 81 percent of new licenses awarded in this quarter
Floating Industrial City
Explained: Saudi Arabia’s new industrial ‘floating’ city Oxagon
Development will feature a port and a logistics hub and will be a “comprehensive cognitive city” focused on robotics and artificial intelligence
business opportunities
How Saudi Arabia is ‘alive and kicking’ for commercial activities
With the easing of coronavirus flight restrictions and line-up of entertainment activities, fly-in fly-out consultants are more likely to permanently reside in the kingdom within the next 12-to-18 months, according to the managing director of Sovereign Saudi Arabia
business opportunities in riyadh
Saudi licenses 44 multinationals to move regional HQ to Riyadh
Licenses authorising the move were issued at the fifth edition of the Future Investment Initiative conference on Wednesday to companies from the tech sector, F&B, consulting and construction
foreign direct investment
The opportunities of Saudi Arabia’s economic awakening
Saudi Arabia continues its strategy to attract foreign and domestic investment with the announcement of plans for further incentives, deregulation and the creation of new special economic zones
Ahmad Hamad Algosaibi & Brothers
Algosaibi family looks to rebuild after $7.5 billion debt deal
Ahmad Hamad Algosaibi & Brothers Co., which has been locked in legal battles and negotiations with creditors over $7.5 billion of debt since 2009, had its proposal to restructure the obligations ratified by a Saudi court
business activities
Saudi private sector shrinks as Covid-19 recovery wobbles
Private sector accounted for 48 percent of economic output, compared to nearly 52 percent in the previous three-month period
business activities
Saudi non-oil economy grows at slower pace amid lower exports
Employment growth remained negligible while stocks of purchases rose at the slowest pace since October, according to latest report from IHS Markit
Saudi businesses
Saudi non-oil economy rebounds with 2.9% growth in Q1
Non-oil sector grows in the first three months of 2021 while the oil economy shrank 11.7% due to production cuts made to support prices
Digitalisation
Digitisation is accelerating Saudi’s corporate foreign investment growth
Government services that used to take months to complete now take weeks, although challenges remain for those looking to set up shop in the kingdom
business activities
Saudi private-sector employment rises for first time this year
Saudi Arabia’s business outlook fell to a 10-month low, while job creation improved at the strongest pace since late 2019
Loan deferment
Saudi Arabia spent $4.5 billion on industrial support last year
SIDF began financing energy, logistics and mining projects in the kingdom in 2019
coronavirus restrictions
Saudi, UAE business activity slows as coronavirus cases rise
Business conditions in the Gulf economies slowed in February as Covid-19 cases crept higher
business activities
Saudi, UAE business conditions improve, though employment falls
PMI surveys compiled by IHS Markit in December for the two Gulf nations rose above the threshold of 50 that separates growth from contraction
Globalisation in Saudi
Video: How is globalisation in Saudi Arabia impacting its culture?
Ithra, the King Abdulaziz Center for World Culture, celebrated Saudi Arabia’s 90th National Day on September 23, 2020 with Ana Mohafeth, a new campaign sparking conversation around the country.
business activities
In pictures: Saudi Arabia ends coronavirus curfew
Saudi Arabia on Sunday ended a nationwide coronavirus curfew and lifted restrictions on businesses, including hair salons and cinemas, after three months of stringent curbs, despite a spike in infections.