The new work permit system in Saudi Arabia has taken effect for incoming expat workers as of July 1
Saudi economy
Latest in Saudi economy
Amaala
Saudi Arabia’s Red Sea Global ‘on track’ to open AMAALA, 11 resorts fuelled by ‘surging’ investor demand
The next 6 to 12 months will see “continued evolution” of Red Sea Global’s offerings, Ahmad Darwish, Group Chief Administrative Officer said
Aramco
BlackRock reportedly talking to Aramco to sell stake in pipelines business
The American investment company had acquired 49% of the entity that holds leasing rights over Aramco pipelines for $15.5bn
GaStat
Saudi Arabia’s economy grows 3.4% in Q1 2025 as non-oil sector leads the way
Non-oil activities surge 4.9 per cent as Saudi Arabia advances diversification strategy
Attestation services
UAE tax rule; May petrol prices revealed; Trump Tower in Dubai; Viral chocolate maker speaks out – 10 things you missed this week
UAE and Saudi tax updates; Dubai viral chocolate maker interview, May petrol prices revealed, Trump Tower coming to Sheikh Zayed Road and more news stories
Saudi economy
Saudi non-oil exports passed $137bn last year
Saudi Arabia recorded record non-oil exports in 2024 as national economy diversifies
Saudi Arabia
Bupa Arabia launches Saudi Arabia’s first ‘no-pre-approval’ health insurance model
The company also announced plans to significantly expand the ‘no-pre-approvals network’ in 2025, with the addition of 15 to 20 hospitals across various regions of the Kingdom
PIF
Saudi PIF-backed sarcc selects Turner & Townsend for employee housing development
Sarcc, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), aims to meet the growing demand for accommodation solutions for both public and private projects throughout the country
Saudi Arabia
S&P Global raises Saudi Arabia’s ratings to ‘A+’ with stable outlook
Ongoing social and economic transformation underpinned by improving governance effectiveness and institutional settings and deepening domestic capital markets
Desert Rock
Inside the ‘camouflaged’ Desert Rock Resort: Saudi Red Sea destination draws global tourists at $3,200 per night
Saudi Arabia’s newest ultra-luxury mountain hideaway attracts international visitors off the beaten path with premium rates and invisible architecture
Saudi Arabia
Saudi bank credit crosses SAR3 trillion in January 2025
On a monthly basis, Saudi bank credit recorded a 2 percent increase, rising by SAR50,395 million from December 2024
liquidity
Saudi liquidity climbs to $780bn as ‘available money’ up 9%
Saudi Arabia’s liquidity levels have seen positive growth of around 36% in past five years
Saudi economy
Saudi Arabia’s non-profit sector passes SR100bn for first time
Saudi Arabia ahead of schedule for 5 per cent GDP target for non-profit sector
Saudi Arabia
Saudi Central Bank bans WhatsApp for customer communications
Financial institutions in Saudi Arabia have been instructed to implement alternative secure channels
Branded hotels and residences
UAE visa changes; Saudi approves riyal symbol; Dubai rent rules; Mona Kattan leaves Huda Beauty – 10 things you missed this week
Saudi introduces riyal symbol, UAE visa news, Dubai real estate changes, UAE law changes and more top stories this week
General Authority for Statistics (GASTAT)
Saudi Arabia’s inflation records marginal rise to 2% in January 2025
The January inflation is driven mainly by an increase in the prices of housing, water, electricity, gas and fuels section