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Saudi Arabia underscored its growing international presence as a hub for entrepreneurship through an interactive workshop held at its pavilion during Expo 2025 Osaka in Japan. The event aimed to highlight the Kingdom’s experience in supporting small and medium-sized enterprises (SMEs) and to foster opportunities for international collaboration in this vital sector. The workshop, organized by the General Authority for Small and Medium Enterprises (Monsha’at), brought together around 30 participants from various countries. Monsha’at presented its integrated ecosystem designed to empower the Kingdom’s entrepreneurial landscape by simplifying business processes, boosting access to financing, promoting a culture of entrepreneurship, and encouraging…

Saudi Arabia’s non-oil private sector continued to witness steady improvements in operating conditions during May, mainly driven by an expansion in new business and a recovery in customer demand. This strong performance underscores the resilience of Saudi Arabia’s non-oil economy and its capacity to achieve sustainable growth. The Riyad Bank Purchasing Managers’ Index (PMI) rose in May, reaching 55.8 points, indicating a strong improvement in business conditions, though still below the peak recorded earlier this year. These positive figures reflect growing confidence in the sector’s future, with output expectations reaching an 18-month high, signaling operational readiness for continued growth in…

24% rise in jewellery exports Italy in top 3 jewellery suppliers Overall exports to UAE at record high Italian exports of jewellery to the UAE grew 24 percent in February over the same month last year, reaching €238 million ($268 million), according to the Italian Trade Agency (ITA). With overall sales of more than €1.22 billion in 2024, up 12 percent year-on-year, Italy remains the world’s third-largest supplier of jewellery to the Emirates, and the number one exporter from Europe, ITA said.  India and Turkey typically hold the first and second spot globally for jewellery exports to the UAE.  “Jewellery…

Performance of 21 banks analysed Combined Q1 profit of $13.2bn 17 of 21 show stock gains Major banks in the six-country Gulf Cooperation Council (GCC) generated more than $13 billion in net profit in the first quarter of 2025. This was up by nearly one-tenth compared to a year earlier as increased lending and low loan defaults boosted the banks’ bottom lines. AGBI analysed the earnings of 21 banks across the GCC including the six largest by assets in each of Saudi Arabia and the UAE, the three biggest in Qatar, and the top two in each of Kuwait, Oman…

Qatar, the world’s second-largest LNG exporter, recorded on Tuesday a budget deficit of 529 million riyals ($145.3 million) in the first quarter of 2025, marking the country’s first deficit since 2020. Qatar achieved a budget surplus of 2 billion riyals ($548.9 million) in the first quarter of 2024 and a surplus of 930 million riyals ($255 million) in the fourth quarter of 2024. In a statement on the X platform, the Finance Ministry said the deficit was covered through debt instruments. Qatar expected a budget deficit of 13.2 billion riyals for 2025, while the total expected revenues for the 2025…

Saudi Arabia is expected to issue $12.6 billion in bonds for the remainder of the year, JPMorgan said, as the kingdom resorts to the debt markets amid huge investments to overhaul its economy and lower oil prices. The Gulf country, which forecasts a budget deficit of $26.9 billion this year, is seeking funds to invest in new industries and wean its economy away from oil under its Vision 2030 plan, investing in sectors such as tourism, manufacturing and technology. Reuters reported April that Saudi Arabia, with its wealth linked inextricably to oil revenue, faces mounting pressure to raise debt or cut spending after…

Qatar recorded a budget deficit of QR500 million ($137 million) in the first quarter of 2025 as oil revenues declined. Total revenue reached QR49 billion, down 7.5 percent year on year, the state-run Qatar News Agency reported. Oil and gas revenue stood at QR42.5 billion, down 10 percent year on year. However, non-oil revenue reached QR7 billion, up 13 percent from the same period last year. Total public expenditure declined 2.8 percent annually to nearly QR50 billion. The government spent QR17 billion on salaries and wages, QR18.5 billion on current expenditures and QR13 billion on major capital expenditures. The total…

US metal tariffs doubling to 50% Gulf benefits from low energy costs UAE exports 350,000 tonnes aluminium A sharp increase in US tariffs on aluminium and steel imports may inadvertently benefit Gulf producers, thanks to their competitive energy advantage and expanding export footprint. President Donald Trump has announced plans to double tariffs on aluminium and steel imports to 50 percent starting on Wednesday, escalating his administration’s protectionist stance amid ongoing global trade tensions. “The biggest advantage that GCC producers of steel and aluminium have is that they pay very low energy costs,” said Vijay Valecha, chief investment officer at Dubai-based…

Marking more than two decades of operations in the Kingdom of Saudi Arabia, Redington has emerged as the country’s largest IT distributor, with annual revenues nearing $1.5 billion. As the company inaugurates its new headquarters in Riyadh, it is doing more than expanding infrastructure; it is signaling long-term commitment to shaping the future of digital transformation across the Kingdom.With a growing workforce, partnerships with hundreds of global technology brands, and a renewed focus on ecosystem development, Redington is placing itself at the heart of Saudi Arabia’s rapidly evolving tech landscape. V.S. Hariharan, Managing Director and Group CEO at Redington, shared…

droppRWA, a subsidiary of droppGroup, the world’s leading provider of sovereign-grade Web3 AI and blockchain infrastructure, today announced a landmark partnership with RAFAL Real Estate Co., one of Saudi Arabia’s leading developers, to execute the Kingdom’s first-ever Real World Asset (RWA) tokenization transaction.This transaction is not just a technological milestone; it is a strategic inflection point. The RAFAL pilot will serve as a national feasibility benchmark for the future of tokenized property markets in Saudi Arabia. Redefining real estate ownership, the collaboration aims to introduce fractional ownership of high-value real estate assets, enabling Saudi citizens to invest everyday with amounts…