Saudi non-oil GDP to grow by 1.8% in 2017 and 3.2% in 2018

The report warns oil prices will not rise significantly due to the expected rise in global production, especially from US shale producers who are responding to stabilizing prices by increasing drilling activity. Brent crude is forecast to average $52 per barrel in 2017 and 2018, before a more vigorous acceleration from 2019 onwards.

By |2017-04-12T14:03:49+03:00April 12th, 2017|

Private sector investments in Saudi to gather pace in 2017

Saudi Arabia is likely to attract significant foreign capital via direct foreign investments (FDI) and foreign portfolio investments (FPI) in the months ahead, according to analysts. The recently announced OPEC production cut will also reduce the downside risks for oil prices, enhancing the government’s fiscal [...]

By |2016-12-13T14:46:56+03:00December 13th, 2016|

Massive potential for e-commerce growth in Saudi Arabia

According to The Boston Consulting Group’s (BCG) report, Unlocking e-Commerce Opportunity in the Kingdom of Saudi Arabia, the growth of e-Commerce largely outpaces the growth of traditional retail—a trend that is expected to further accelerate in the coming years.

By |2016-12-06T12:12:24+03:00December 6th, 2016|

Saudi opens retail sector to 100% foreign ownership

Saudi Cabinet approved rules “for foreign companies to invest in (the) wholesale and retail trade sector with 100 percent ownership.” The previous foreign direct investment limit was 75 percent. The decision is in line with the Vision 2030 plan.

By |2016-11-06T11:50:32+03:00June 21st, 2016|

Kingdom is Dubai’s top GCC non-oil trade partner

Saudi Arabia accounted for 45 percent of Dubai's total trade within the region, the Dubai Chamber of Commerce and Industry said in a statement. The emirate's trade within the region is witnessing a higher pace of growth, according to the report.

By |2016-11-06T11:49:59+03:00June 21st, 2016|
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