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Saudi Arabia Rises to 13th in IMD World Competitiveness Yearbook RIYADH, June 18 (Saudi Arabia Breaking News) - Saudi Arabia rose four places in the 2026 IMD World Competitiveness Yearbook, ranking 13th globally among 70 economies and third among G20 economies. The annual yearbook, published by the International Institute for Management Development, is one of the main global benchmarks for assessing national competitiveness. The Saudi Competitiveness and Business Center monit

Saudi tax authority urges businesses to file April VAT returns by May 31 RIYADH, May 21 — Saudi Arabia’s Zakat, Tax and Customs Authority urged businesses subject to value-added tax with annual supplies exceeding SAR40 million ($10.7 million) to file April VAT returns by May 31. The authority said businesses should submit returns through its website or smartphone application to avoid late-filing penalties ranging from 5% to 25% of the unpaid tax amount. Value-added tax is app

Saudi business revenue index rises 10.2% year-on-year in March RIYADH, May 20 — Saudi Arabia’s operating revenue index rose 10.2% year-on-year in March 2026, the General Authority for Statistics said in its short-term business indicators bulletin. The index increased 8.1% from February, supported by growth across several economic activities, GASTAT said. Mining and quarrying recorded the strongest monthly increase, rising 38.6%, while manufacturing grew 4.4%. Financial and in

Riyadh Air opens public sales for Riyadh-London flights | Photography: SPA RIYADH, May 19 (Saudi Arabia Breaking News) – Riyadh Air announced the launch of full public ticket sales for flights between Riyadh’s King Khalid International Airport and London Heathrow, the Saudi Press Agency reported. The route will begin operating with Riyadh Air’s new Boeing 787-9 Dreamliner aircraft from July 1, 2026. Tickets are available through the Riyadh Air app, the airline’s website and a

SPA RIYADH, April 10, 2026, Saudi Arabia Breaking News - The Saudi Tourism Authority and Expo 2030 Riyadh signed a strategic memorandum of understanding to enhance cooperation in promoting Saudi tourism and attracting visitors to Expo 2030 Riyadh. The agreement includes joint work on tourism products and activities, international promotion, and coordinated marketing and media plans aimed at strengthening Saudi Arabia’s profile as a global destination. The partnership also see

SPA RIYADH, April 9 (Saudi Arabia Breaking News) - Domestic tourism in Saudi Arabia rose sharply in the first quarter of 2026, with the number of local tourists reaching about 28.9 million, up 16% from a year earlier, according to preliminary data from the Ministry of Tourism. Domestic tourism spending reached SAR34.7 billion during the period, an increase of 8%, while the total number of domestic and international tourists climbed to around 37.2 million, with combined spendi

. PMI data show first contraction since 2020 as weaker orders, falling exports and logistics disruption expose the cost of regional instability. PARIS, April 5 (SaudiArabia Breaking News) - Saudi Arabia’s non-oil private sector contracted in March for the first time since August 2020, as conflict in the Middle East weighed on demand, disrupted exports and intensified supply-chain pressures, according to a closely watched business survey released on Sunday. The seasonally adju

RIYADH, March 31, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s unemployment rate for the total working-age population stood at 3.5% in the fourth quarter of 2025, unchanged from a year earlier and up 0.1 percentage point from the previous quarter, according to the General Authority for Statistics. Separate data for Saudi nationals showed the unemployment rate among Saudi males and females at 7.2% during the quarter, as labor market indicators pointed to continued shifts

RIYADH, March 31, 2026 (Saudi Arabia Breaking News) – Saudi Arabia recorded SAR66.1 billion ($17.6 billion) in service exports in the fourth quarter of 2025, while service imports reached SAR119.6 billion, according to the General Authority for Statistics, with travel and transport remaining the main drivers of cross-border services activity. Travel services accounted for the largest share of Saudi service exports during the quarter at SAR39.5 billion, underscoring the sector

Riyadh, March 21 (Saudi Arabia Breaking News) – Disruption in the Strait of Hormuz is raising food supply risks across the Gulf region, threatening a waterway that serves as a critical route not only for global energy flows but also for imports relied on by more than 100 million people. Oil and liquefied natural gas tankers moving through the strait carry around 20% of the world’s supply, but for Gulf states the passage is also a key route for food shipments and other essenti

Riyadh, March 5, 2026 (Saudi Arabia Breaking News) – Zakat, Tax and Customs Authority urged establishments subject to withholding tax to submit their tax forms for February 2026 no later than March 10, 2026. Submissions must be completed via the authority’s official website to avoid late penalties, which are calculated at 1% of the unpaid tax for each 30 day delay, it said. Withholding tax applies to payments made from Saudi sources to non-resident entities without a permanen

Riyadh, March 4, 2026 (Saudi Arabia Breaking News) – SABIC said on Wednesday its adjusted net income for 2025 stood at 2.1 billion riyals, while revenue reached 116.5 billion riyals, according to figures released at a press conference in Riyadh. The company reported free cash flow of 7.2 billion riyals for the year, up 17% from 2024, and said it paid interim cash dividends for the second half of 2025 totalling 4.5 billion riyals. Chief executive Abdulrahman bin Saleh Al-Fagee

SPA Riyadh, March 3, 2026 (Saudi Arabia Breaking News) – New Murabba Development Company, a unit of the Public Investment Fund, has signed a strategic agreement with the Electric Vehicle Infrastructure Company to install, operate and maintain electric vehicle charging solutions across a number of New Murabba’s main assets, the Saudi Press Agency reported. Under the agreement, the two sides will install high quality alternating current chargers at New Murabba’s headquarters, a

SPA Riyadh, February 20, 2026 (Saudi Arabia Breaking News) – The Zakat, Tax and Customs Authority (ZATCA) has called on businesses with annual supplies exceeding SAR40 million to submit their Value Added Tax (VAT) returns for January 2026 by February 28. ZATCA warned that late submissions will be subject to penalties ranging from 5% to 25% of the tax due. The authority encouraged taxpayers to file and pay through its official website or mobile application to ensure complianc

Riyadh, February 16, 2026 (Saudi Arabia Breaking News) – Japan’s economy expanded at an annualised real rate of 0.2% in the October–December period, marking the first growth in two quarters, according to government data released on Monday. Real gross domestic product rose 0.1% from the July–September period, based on a preliminary report by the Cabinet Office. For the full year 2025, nominal GDP increased 4.5% from the previous year to 662.79 trillion yen ($4.3 trillion), Kyo

SPA Riyadh, February 9, 2026 (SABN) – The International Monetary Fund and the Arab Monetary Fund signed a memorandum of understanding on the sidelines of the AlUla Conference on Emerging Market Economies to strengthen cooperation between the two institutions. The memorandum was signed by IMF Managing Director Kristalina Georgieva and Arab Monetary Fund Director General Fahad Alturki. The agreement aims to strengthen coordination in economic and financial policy areas includin

Riyadh, February 3, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s non-oil private sector continued to expand in January, but at a slower pace than the previous month, as rising input costs added pressure despite firm demand, a purchasing managers’ survey showed. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index fell to 56.3 in January from 57.4 in December, its lowest level in six months, while remaining firmly in expansion territory. A reading a

SPA Riyadh, February 1, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s real gross domestic product grew 4.5% in 2025 compared with the previous year, with growth of 4.9% in the fourth quarter compared with the same period in 2024, according to estimates released by General Authority for Statistics (GASTAT). Oil activities recorded the strongest expansion, rising 10.4% in the fourth quarter and 5.6% over the full year, the estimates showed. Non-oil activities grew 4.1% in

S[A Jeddah, Jan 28 (Saudi Arabia Breaking News) – The Formula 1 stc Saudi Arabian Grand Prix has contributed to direct and indirect economic activity in Jeddah, supporting tourism and stimulating commercial and investment momentum in the city, according to figures and assessments outlined in the event summary. Race-period demand lifted hotel occupancy and air travel activity, with spillover across hospitality, retail and services, and increased business activity along the Jed

DarGlobal CEO Ziad El Chaar speaks during an interview with Reuters in Riyadh, Saudi Arabia, January 11, 2026. REUTERS/Hamad I Mohammed Riyadh, January 12, 2026 (Saudi Arabia Breaking News) – Saudi real estate developer Dar Global will launch two Trump-branded luxury projects in Riyadh and Jeddah with a combined value of $10 billion, CEO Ziar El Chaar said on Sunday. El Chaar told Reuters the Riyadh plans include a Trump National Golf Course and a Trump International Hotel in