Prime Highlights: Saudi Arabia's fintech sector is experiencing rapid growth due to Vision 2030 reforms, including the Financial Sector Development Program (FSDP). The Saudi Central Bank (SAMA) has been pivotal…
Prime Highlights: Steve Witkoff, U.S. President-elect Donald Trump's Middle East envoy, achieved a breakthrough in hostage negotiations during a tense meeting with Israeli Prime Minister Netanyahu on January 11, 2025.…
Prime Highlights: Saudi e-commerce sales via Mada cards hit $4.65 billion in November 2024, a 29.4% year-on-year growth. The surge includes online shopping, in-app purchases, and e-wallet transactions, excluding credit…
Prime Highlights: Halo AI, a Saudi-based firm specializing in AI-driven creator-brand partnerships, raises $6 million in seed funding. The round was led by Raed Ventures (Saudi Arabia) and Shorooq Partners…
Prime Highlights: Saudi Investment Promotion Authority (SIPA) signs MoU with Japan’s Mizuho Bank. The agreement aims to foster enhanced investment ties between the two nations. Key Background: In a significant…
Prime Highlights: Saudi Arabia’s Public Investment Fund (PIF) aims to reach $2 trillion in assets under management (AuM) by 2030, making it the second-largest sovereign wealth fund globally. PIF’s projected…
Prime Highlights: Industrial Production Index increased by 3.4% year on year in November 2024. Mining and quarrying saw a 1.2% annual rise, driven by modest growth in oil output. Key…
Prime Highlights: Saudi Arabia has issued over 36,000 investment licenses since the launch of Vision 2030, marking a five-fold increase compared to the pre-Vision 2030 period. In 2024, there was…
Prime Highlights: Riyad Bank has launched SR-denominated additional Tier 1 sukuk under its SR10 billion program. The offering started on January 7, 2025, and will run through January 16, 2025.…
Prime Highlights: Saudi Arabia's Aramco is contemplating a decision to establish a large oil refinery in Bangladesh with which to support the country's growing demand for petroleum products and regional…
