Thursday, September 16

Business

Minister of Investment Visits Public Establishment for Industrial Estates “Madayn” in Sultanate of Oman

Business
Muscat, Minister of Investment of the Kingdom of Saudi Arabia Eng. Khalid bin Abdulaziz Al-Falih and the accompanying delegation visited today the Public Establishment for Industrial Estates "Madayn", escorted by the Omani Minister of Commerce, Industry and Investment Promotion, Qais bin Muhammad Al-Yousef.During the visit Al-Falih was briefed on the Madayn's facilities and activities. He listened to an explanation of the initiatives and programs offered by Madayn to investors, in addition to the services provided by Madayn Academy in terms of human resource development, studies and research, innovation, training programs and Madayn university research chair.Source: Saudi Press Agency

Saudi Arabia Participates in 11th Meeting of United Nations Committee of Experts on Global Geospatial Information Management

Business
Riyadh, The General Authority for Survey and Geospatial Information participated in the 11th meeting of the United Nations Committee of Experts on Global Geospatial Information Management (UN-GGIM), which was held virtually between August 23 and 24, 2021, and on August 28, 2021.The meetings discussed several subjects on the agenda and checked on the progress level of the five regional committees (UN-GGIM: Asia-Pacific, UN-GGIM: Americas, UN-GGIM: Africa, UN-GGIM: Europe, UN-GGIM: Arab States).The discussions also included the technical reports on the meeting agenda, such as the Integrated Geospatial Information Framework (IGIF), Global Geodetic Reference Frame, and the report on using geospatial information for sustainable development, among other reports.The meetings aim at providing a fo...

Saudi Arabia’s Non-oil, Oil Exports Increase by 52.1% and 126.1% in Q2 2021

Business
Riyadh, The Kingdom of Saudi Arabia’s overall merchandise exports increased by 99.4% in Q2 2021 compared to Q2 2020, when international trade was impacted by Covid-related lockdowns and travel bans in numerous countries. The value of exports amounted to 238.6 billion riyals in Q2 2021, up from 119.7 billion riyals in Q2 2020. This increase originated mainly from oil exports, which rose by 96.5 billion riyals or 126.1% in the same period. The share of oil exports in total exports increased from 63.9% (Q2 2020) to 72.5% (Q2 2021). Compared to the previous quarter (Q1 2021), total merchandise exports increased by 26.1 billion riyals or 12.3%.According to the General Authority for Statistics' (GASTAT) International Trade Report, non-oil exports increased by 52.1% year-on-year in Q2 2021, risin...

Saudi Arabia’s Non-oil Exports Report Highest Increase of 40.5% in June 2021

Business
Riyadh, The Kingdom of Saudi Arabia’s overall merchandise exports increased by 91.8% in June 2021 compared to June 2020, when international trade was impacted by Covid-related lockdowns and travel bans in numerous countries. The value of exports amounted to 84.7 billion riyals in June 2021, up from 44.2 billion riyals in June 2020. This increase originated mainly from oil exports, which rose by 33.7 billion riyals or 123.2% in the same period. The share of oil exports in total exports increased from 62.0% (June 2020) to 72.1% (June 2021). Compared to the previous month (May 2021), total merchandise exports increased by 2.5 billion riyals or 3.1%.Non-oil exports increased by 40.5% year-on-year in June 2021, rising to 23.6 billion riyals from 16.8 billion riyals in June 2020. Of the most imp...

Saudi Stock Exchange Main Index Ends Trading Lower at 11,128 Points

Business
Riyadh, Saudi Stock Exchange's main index ended trading lower here today, losing 28.04 points to close, at 11,128.59 points.The total value of the trading reported was SAR 4 billion, while the toll of shares traded was more than 100 million, divided into over 225,000 deals.The Saudi Parallel Equity Market Index (NOMU) ended the day gaining 116.39 points, to close at 24,521.65 points, with a valuation of more than SAR 31 million and an overall tally of 290,000 stocks traded and divided into as many as 1,717 deals.Source: Saudi Press Agency

CITC to Host Digital Technology Forum with Focus on Investment Opportunities in Saudi Arabia

Business
Riyadh, The Communications and Information Technology Commission (CITC) is hosting the first edition of the annual Digital Technology Forum with the theme of “Promising investment opportunities for a digital future". The forum will be held in coordination with the Saudi Ministry of Communication and Information Technology (MCIT) and the Saudi Ministry of Investment (MISA). It will bring together investors and tech-companies to explore investment trends and opportunities in Saudi Arabia's rapidly growing Information Technology (IT) and Emerging Technology (ET) sectors.The day-long forum will take place online at 14:00 (GMT+3) on 24 August, 2021 and feature in-depth discussions and informative presentations on the latest trends and best practices in the tech industry, including smart cities,...