萝莉视频

Saudi-UAE trade soars 25% to $30bn amid strengthened economic ties

Saudi Minister of Economy and Planning Faisal Al-Ibrahim speaks at the third Saudi-Emirati Economic Forum held in Riyadh. AN photo
Saudi Minister of Economy and Planning Faisal Al-Ibrahim speaks at the third Saudi-Emirati Economic Forum held in Riyadh. AN photo
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Updated 27 October 2024

Saudi-UAE trade soars 25% to $30bn amid strengthened economic ties

Saudi-UAE trade soars 25% to $30bn amid strengthened economic ties

RIYADH: 萝莉视频鈥檚 trade with the UAE has experienced a 25 percent increase, highlighting a significant boost in economic collaboration between the two nations. By the end of 2023, the trade volume reached SR113 billion ($30 billion), up from SR90 billion in 2019.

During the third Saudi-Emirati Economic Forum held in Riyadh, Saudi Minister of Economy and Planning Faisal Al-Ibrahim announced that direct Emirati investments in 萝莉视频 have also grown, reaching SR111 billion by the end of 2023鈥攁 15 percent increase compared to the previous year.

鈥淲e are witnessing tangible outcomes from our clearly defined vision and ambitious strategy for economic cooperation,鈥 Al-Ibrahim stated.

He noted that over the past five years, trade volume has risen nearly 25 percent, with thousands of registered trademarks, agencies, and companies operating across various sectors, including mining, trade, and real estate.

UAE Minister of Economy Abdullah Al-Marri highlighted that in 2023, non-oil foreign trade between the two countries reached 137 billion dirhams ($37.3 billion), emphasizing the strength of their economic partnership. Non-oil trade surged to 75 billion dirhams in the first half of 2024, reflecting an impressive growth rate of over 18 percent compared to the same period in 2023.

鈥淚n 2023, UAE investment in Saudi markets exceeded 15.7 billion dirhams, marking a 6 percent growth from 2022,鈥 Al-Marri added.

Additionally, the cumulative stock of Saudi investments in the UAE reached $6.5 billion by the end of 2022, making 萝莉视频 the fourth largest investor in the UAE.

Al-Marri noted that tourism plays a vital role in their economic relations, with 萝莉视频 ranking among the top 10 tourism markets for the UAE. Over 1.7 million Saudi tourists visited the UAE in 2023.

This upward trend reflects both nations' commitment to strengthening trade relations and fostering mutual economic benefits. In the past four years, over 30 economic reforms have been enacted, including updates to commercial companies law that allow 100 percent foreign ownership. These reforms also cover cooperatives, family businesses, e-commerce, consumer protection, and anti-money laundering.

The forum, organized by the Federation of Saudi Chambers, featured a trade delegation from the UAE, including over 100 leading Emirati companies, and was attended by key officials from both countries.

FSC Chairman Abdulhakim Hamad Al-Khaldi reported that the trade exchange between 萝莉视频 and the UAE has been on a continuous growth trajectory, totaling SR327.506 billion ($87.3 billion) in the last three years alone. 鈥淭he UAE remains 萝莉视频's largest Arab trading partner and the sixth largest globally,鈥 he stated.

Al-Khaldi emphasized that the two countries are increasingly diversifying their income sources beyond oil, including investments, tourism, industry, services, transportation, and infrastructure.

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef stressed the importance of leveraging the current momentum in industrial integration, noting a notable increase in Saudi exports to the UAE, with an annual growth rate of over 9 percent from 2018 to 2023. 鈥淚n the first half of 2024, Saudi exports to the UAE exceeded SR31 billion,鈥 he said.

He also pointed out the potential for enhanced collaboration in the industrial and mining sectors, aiming to share knowledge and technology related to the Fourth Industrial Revolution, including AI and automation.

Al-Khaldi reiterated the promising outlook for bilateral trade, stating, 鈥淭he numbers reflect a clear vision of vast opportunities across sectors, supporting Saudi Vision 2030 and the UAE鈥檚 vision.鈥

Waleed Al-Orainan, assistant secretary-general of FSC, emphasized the welcoming business environment in 萝莉视频, noting that around 850 reforms have been made to improve conditions for foreign companies.

With about 629 flights weekly between the two countries, trade volumes continue to thrive. 鈥淭he trade volume is SR112 billion, with SR62 billion from Saudi exports, which is significant,鈥 Al-Orainan said.

Fayez Al-Shaili, vice president of FSC, highlighted promising sectors, particularly tourism and industry. 鈥溌芾蚴悠 has immense tourism potential, with historical sites requiring development to attract global visitors,鈥 he explained.

Al-Shaili expressed optimism for future growth, with aspirations to double investment flows to 30 billion dirhams, signaling a strong commitment to strengthening economic ties and expanding opportunities in the Saudi market.


U20 Summit calls on universities to launch Saudi-proposed course

U20 Summit calls on universities to launch Saudi-proposed course
Updated 10 sec ago

U20 Summit calls on universities to launch Saudi-proposed course

U20 Summit calls on universities to launch Saudi-proposed course

RIYADH: Mayors and city leaders worldwide are urging universities to introduce a Master of City Administration degree, an initiative pioneered by 萝莉视频 aimed at transforming urban leadership.

According to a press statement, the MCA is designed as an MBA-equivalent program for city leaders, equipping them to navigate complex urban challenges and guide their cities amid rapid population growth.

The initiative was unveiled at the Urban 20 Global Summit in Johannesburg as a collaboration between the South African co-chairs and 萝莉视频鈥檚 U20 delegation.

Fahd Al-Rasheed, head of the Kingdom鈥檚 U20 delegation, initially proposed the program during the 2024 Summit in Rio de Janeiro in a paper published by the Brazilian Center for International Relations and the 2024 U20 co-chairs. Since then, the concept has garnered widespread support from mayors, urbanists, and academics.

鈥淐ities are uniquely consequential. They are where we live, work, raise our families and chase our dreams. The need for robust educational programs, tailored to the complexities of city administration, has never been greater,鈥 said Al-Rasheed.

He added: 鈥淭he MCA initiative represents an opportunity to transform the leadership of our cities, to the betterment of those that live in them.鈥

The summit also called on universities to train 290,000 urban leaders by 2050, providing them with a skill set that combines executive, political, and technical expertise.

鈥淭he MCA is not just about creating a degree program. The legacy of South Africa鈥檚 chairmanship of the U20 will be a global movement that transforms how we prepare urban leaders, contributing to more resilient, inclusive, and sustainable cities worldwide,鈥 said Dada Morero, mayor of Johannesburg and U20 co-chair.

The press statement emphasized that MCA will be an interdisciplinary program, blending core curriculum standards with region-specific adaptations to give graduates the technical knowledge, systems thinking, and governance skills needed to lead effectively.

The program will be offered through top international universities, combining academic rigor with practical insights from former mayors and senior administrators.

鈥淭he MBA is the base standard for corporate executive leadership. It is time that the leaders of the world鈥檚 cities, which are at the heart of future human development and prosperity, have an equally rigorous, specialized and respected program for leading our cities into a sustainable future,鈥 said Dr. Nasiphi Moya, executive mayor of Tshwane and U20 co-chair.


Jordan tourism revenue rises 7.5% to $5.33bn聽

Jordan tourism revenue rises 7.5% to $5.33bn聽
Updated 41 min 24 sec ago

Jordan tourism revenue rises 7.5% to $5.33bn聽

Jordan tourism revenue rises 7.5% to $5.33bn聽

RIYADH: Jordan鈥檚 tourism sector reversed its declining revenue trajectory in the first eight months of 2025, posting a 7.5 percent increase as it pulled in $5.33 billion.

This was in contrast to the 3.7 percent drop seen in the same period of 2024.

Tourism income in August reached $932.2 million, up 2.6 percent from the same month of the previous year, which had seen a 0.3 percent decline, Jordan News Agency, or Petra, reported, citing preliminary data from the country鈥檚 central bank.

The growth was supported by a 14.9 percent increase in tourist arrivals. 

These figures reflect Jordan鈥檚 momentum in tourism recovery, supported by improved international air connectivity, greater marketing efforts and infrastructure investment, in line with its National Tourism Strategy 2021-25 and Economic Modernization Vision. 

鈥淭he data indicated growth in tourism revenue from Asian nationalities (38.4 percent), European (30.2 percent), American (18.6 percent), Arab (5.5 percent), and other nationalities (34.0 percent),鈥 the Petra report stated. 

It added: 鈥淢eanwhile, revenue from Jordanian expatriates dropped by 1.3 percent.鈥 

Outbound tourism expenditure 鈥 money spent by Jordanians abroad 鈥 rose 4 percent in the first eight months to $1.44 billion. In August alone, spending increased 4.5 percent to $196.8 million. 

Jordan maintained a steady upward trend in tourism performance earlier in 2025. In the first quarter, revenues rose about 8.9 percent year-on-year, with international arrivals up nearly 19 percent, supported by improved air connectivity, expanded marketing efforts, and infrastructure investments. 

In the first half of 2025, tourism revenues increased 11.9 percent to $3.67 billion, despite regional headwinds and other external pressures. 

January alone saw revenues surge 22.8 percent to $680.5 million, driven by higher spending from Jordanian expatriates, Arab visitors, and non-Arab international tourists. 

Jordan鈥檚 performance mirrors a wider tourism surge across the Middle East. 

A May release from the World Travel & Tourism Council showed the sector contributed $341.9 billion to regional gross domestic product and supported 7.3 million jobs in 2024, with projections rising to $367.3 billion and 7.7 million jobs in 2025. 

萝莉视频 led the region with a 148 percent jump in international tourism revenue in 2024, according to its Ministry of Tourism, while Oman, the UAE, and Qatar continued to draw strong visitor flows through investment, improved connectivity, and major events. 


萝莉视频 climbs to 46th in UN Global Innovation Index聽

萝莉视频 climbs to 46th in UN Global Innovation Index聽
Updated 17 September 2025

萝莉视频 climbs to 46th in UN Global Innovation Index聽

萝莉视频 climbs to 46th in UN Global Innovation Index聽

RIYADH: 萝莉视频 has increased its ranking in the latest Global Innovation Index to 46 out of 139 countries as the Kingdom deepens its push to become a regional hub for research and technology. 

The rise of one place compared to the previous year鈥檚 list from the UN鈥檚 World Intellectual Property Organization continues 萝莉视频鈥檚 upward trend in recent years, moving from 66th in 2021, to 51, then 48, and 47.

The annual ranking placed 萝莉视频 40th among 51 high-income economies, citing progress in market sophistication, policy stability, and stronger collaboration between universities and industry. 

The report stated that innovation performance in the Middle East is 鈥済aining ground,鈥 with the UAE advancing to 30th place and Qatar ranked 48th.

It added: 鈥溌芾蚴悠 and Qatar also benefit from high input scores 鈥 ranking 31st and 34th, respectively 鈥 driven by strengths in areas such as market sophistication, policy stability, and university鈥搃ndustry collaboration.鈥 

The report showed 萝莉视频 ranked 5th for creating a business-friendly environment and 12th in policy stability for doing business. In human capital and research, the Kingdom placed 35th, while it secured 36th in the infrastructure pillar. 

In April, a report from the US Chamber of Commerce said 萝莉视频 made significant progress in the 2025 Global Intellectual Property Index, with its score rising 17.5 percent, making it one of the fastest-improving economies among the 55 assessed. 

In June, Startup Genome, in collaboration with the Global Entrepreneurship Network, reported that Riyadh climbed 60 places in three years to reach 23rd in its list of the top 100 emerging ecosystems. 

According to the WIPO report, Qatar stands out as a global hub for international talent, ranking first in tertiary inbound mobility, coupled with strong performance in information and communication technology adoption. 

Among Middle East and North Africa countries, Morocco ranked 57th, followed by Bahrain at 62nd, Jordan at 65th, and Kuwait at 73rd. 

Globally, Switzerland led the index, followed by Sweden in second place and the US in third. 

The rest of the top 10 were South Korea, Singapore, and the UK, as well as Finland, the Netherlands, Denmark, and China. 

鈥淕II 2025 maps the contours of innovation across the world, showing us that the fastest-advancing economies in the GII are those that view innovation as a fundamental engine of resilience, growth and competitiveness,鈥 said Daren Tang, director general of World Intellectual Property Organization. 

He added: 鈥淭his year鈥檚 GII reveals both encouraging progress as well as challenges that still need to be addressed for countries to fully harness their innovation potential.鈥


Saudi point-of-sale spending holds firm above $3bn 聽

Saudi point-of-sale spending holds firm above $3bn 聽
Updated 39 min 22 sec ago

Saudi point-of-sale spending holds firm above $3bn 聽

Saudi point-of-sale spending holds firm above $3bn 聽

RIYADH: 萝莉视频鈥檚 point-of-sale transactions held above the $3 billion mark for a 12th straight week, supported by resilient consumer demand for food and beverages, official data showed. 

The Saudi Central Bank, known as SAMA, reported that POS spending totaled SR13.10 billion ($3.49 billion) in the week ending Sept. 13, with the number of transactions at 231.05 million. 

While this represents a 12.3 percent weekly drop in spending, and a 4.7 percent fall in transactions, the headline figures do underscore consumer confidence and the Kingdom鈥檚 ongoing digital transformation of payments, supported by initiatives under Vision 2030. 

This marks a key milestone in 萝莉视频鈥檚 cashless economy ambitions under the Financial Sector Development Program. 

Food and beverages remained the top category, accounting for SR1.96 billion in sales despite a 13.1 percent decline. Restaurants and cafes registered SR1.57 billion, down 6.1 percent, while gas stations fell 5.6 percent to SR1.02 billion. Transportation transactions dropped 8.1 percent to SR966.76 million. 

The sharpest drop was in the education sector, where POS value stood at SR285.12 million, marking a weekly decline of 57.6 percent. 

Spending on professional and business services reached SR912.58 million, while apparel, clothing, and accessories totaled SR902.67 million. 

The healthcare sector recorded a weekly decline of 5.8 percent to SR876.34 million. 

Geographically, 萝莉视频鈥檚 capital Riyadh dominated POS transactions, with a value of SR4.65 billion and 75.95 million operations. Compared with the previous week, however, spending in the capital fell 10 percent. 

In Jeddah, POS transactions amounted to SR1.84 billion, down 12.4 percent, while Dammam recorded SR663.98 million. Makkah and Madinah registered SR506.11 million and SR496.20 million, respectively. 

Al-Khobar posted SR376.90 million, while Buraidah and Abha stood at SR318.46 million and SR167.80 million, respectively. 

The latest SAMA data indicates that consumer confidence in the Kingdom remains firm despite global economic headwinds, lending crucial support to 萝莉视频鈥檚 broader economic transformation agenda. 

In April, the central bank reported that non-cash retail transactions in 萝莉视频 reached 12.6 billion in 2024, up from 10.8 billion in 2023, highlighting the continued expansion of electronic payment systems across the Kingdom. 


ADNOC deploys AI system for oil terminals

ADNOC deploys AI system for oil terminals
Updated 16 September 2025

ADNOC deploys AI system for oil terminals

ADNOC deploys AI system for oil terminals
  • Developed by Innovez One, a leading port management system provider, the technology optimizes resource allocation and enables real-time tracking of marine activities across ADNOC L&S鈥檚 UAE ports

RIYADH: ADNOC Logistics and Services has launched the Gulf Cooperation Council鈥檚 first AI-powered Smart Port Solution to enhance petroleum port operations, according to the Emirates News Agency.

Developed by Innovez One, a leading port management system provider, the technology optimizes resource allocation and enables real-time tracking of marine activities across ADNOC L&S鈥檚 UAE ports, including Das, Zirku, Mubaraz, Ruwais, and Jebel Dhana.

The solution slashes vessel turnaround time by up to 90 percent, reducing service sourcing from three hours to 45 seconds. It is projected to save 3,000 hours annually, yielding operational savings of $950,000 by 2028. Additionally, jetty utilization has increased by 20 percent, boosting overall port efficiency and improving vessel management by 10 percent.

Capt. Abdulkareem Al-Masabi, CEO of ADNOC L&S, emphasized the company鈥檚 focus on innovation: 鈥淭his smart port solution reinforces our commitment to leveraging AI to optimize operations, drive value for our business and customers, and advance sustainability.鈥

David Yeo, CEO of Innovez One, highlighted the collaboration鈥檚 impact: 鈥淥ur AI-driven solution not only streamlines workflows but also supports ADNOC L&S鈥檚 sustainability goals, positioning UAE petroleum ports as a global benchmark for smart operations.鈥

ADNOC L&S鈥檚 adoption of cutting-edge AI aligns with its strategy for operational excellence and sustainable growth.