Economy page

The Council of Economic Affairs reviewed the growth of non-oil activities and industrial production, confirming the success of Vision 2030 plans in diversifying the economy and enhancing the role of the private sector.

The European Commission warns against excessive reliance on US liquefied natural gas, and seeks to avoid replacing Russian dependence with another that could threaten the continent's energy security.

The Deputy Governor of Makkah and the Minister of Industry review the industrial and mining initiatives in the region, with the aim of attracting investments, developing local content and creating job opportunities within the framework of the Kingdom’s Vision 2030.

Gold prices surged to a new record high, driven by a weaker dollar and expectations of interest rate cuts. Learn about the reasons behind this rise and its impact on global markets.

Amwaj International announced the discovery of financial discrepancies in inventory worth 28.6 million riyals following an internal investigation, and is taking measures to strengthen oversight and protect shareholders' rights.

Bank Al-Jazira recorded net profits of SAR 1.5 billion for 2023, representing a 22% increase. Learn more about the financial performance and the decision to distribute cash dividends of SAR 0.50 per share.

Wajd Al Hayat Company announced the signing of a contract with Al Jouf University worth 12.6 million riyals to operate the dental college clinics, in a move that supports Vision 2030 to enhance partnership between the two sectors.

Al Moammar Information Systems Company (MIS) announced the signing of an agreement to acquire 15% of the Al Ittizam Electronic Insurance Platform for a value of 19.5 million riyals.

Al Moammar Company (MIS) announced the signing of a subscription agreement to raise the capital of Vision Digital Bank to 3 billion riyals, in a move that supports the digital financial transformation in Saudi Arabia.

Saudi Pipes announced that its subsidiary has won a 300 million riyal pipe supply contract with Subsea 7, boosting the local industry sector and supporting major energy projects.