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Ƶ boosts health infrastructure with 5 new hospitals, increased budget 

Ƶ has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. File
Ƶ has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. File
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Updated 02 December 2024

Ƶ boosts health infrastructure with 5 new hospitals, increased budget 

Ƶ boosts health infrastructure with 5 new hospitals, increased budget 

RIYADH: Ƶ is set to open five new hospitals by 2025, adding 963 beds across key provinces as part of a broader SR260 billion ($69.3 billion) budget allocation to the health and social development sector. 

This allocation, which represents the second-largest share of government spending, covers a wide range of initiatives, including increasing bed capacity to 23 beds per 10,000 residents in the targeted provinces, as outlined in the Ministry of Finance’s budget report.

The new facilities, located in Rijal Almaa, Dhahran Al-Janoub, Hail, Makkah, and Riyadh, include a dedicated mental health hospital in the capital. These projects aim to enhance access to care and improve healthcare infrastructure across the Kingdom.  

Other initiatives for 2025 include emergency services, early detection programs, cancer care, and expanded dialysis services, highlighting a comprehensive approach to healthcare that emphasizes prevention, early intervention, and state-of-the-art infrastructure. 

In addition to healthcare, these funds will also support the management of human resources and social services, including social security and welfare. 

They will also extend to the cultural, media, sports, and entertainment sectors, as well as the implementation of the Quality of Life Program. This underscores Ƶ’s holistic approach, recognizing the interconnectedness of health and social development.  

Healthcare advancements 

Ƶ has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents. 

Over the past decade, the Kingdom has invested heavily in modernizing healthcare infrastructure, expanding medical services, and improving access to quality care nationwide.  

With initiatives like Vision 2030, which outline ambitious goals to diversify the economy and enhance public services, the health sector has become a key area of focus. 

The government has prioritized expanding health coverage, upgrading hospitals and clinics, and implementing advanced technologies such as electronic health records and telemedicine services. 

Additionally, Ƶ places strong emphasis on preventive healthcare, early diagnosis, and specialized treatment programs, all aimed at reducing the disease burden and improving the quality of life. 

Key investments 

The ministry’s report indicated that the new hospitals will be outfitted with state-of-the-art medical equipment, and skilled healthcare professionals will be employed to address the health needs of the population and enhance the quality of care.  

To bolster emergency medical services, Ƶ plans to deploy 568 vehicles, including ambulances, electric vehicles, and amphibious units.  

These vehicles will play a crucial role in transporting the injured and medical supplies, enhancing the overall responsiveness of healthcare services, especially in remote areas and during emergencies. This extensive fleet will ensure timely medical attention and improve access to healthcare across all regions, regardless of geographic challenges. 

Health innovations 

The health sector will also prioritize early screening for newborns and young children in 2025, aiming to reduce disability and enhance overall quality of life. 

This includes the implementation of newborn screening programs to detect hearing impairments and genetic disorders. 

A comprehensive database will be created, linking both public and private sectors to ensure early diagnosis and intervention. 

Additionally, preschool hearing screenings will be integrated with the Noor system to improve educational outcomes for children, further supporting the early identification of health issues that could impact development. 

In an effort to reduce the incidence of cervical cancer, the Kingdom will increase HPV vaccination coverage for girls, targeting a 90 percent vaccination rate.  

The program will provide vaccines for girls in their first year of intermediate school and offer early detection services for women aged 30 and older. Positive cases will be referred to early screening programs for cervical cancer, aiming to prevent the spread of HPV and improve overall public health by detecting and addressing the virus early. 

The Kingdom is also expanding its cancer care services by implementing a modern care model across three new oncology centers. 

This includes expanding early cancer detection capabilities and providing state-of-the-art diagnostic equipment to improve the accuracy and speed of diagnoses.  

Similarly, dialysis services at Huraymila and Jazan General Hospitals will undergo significant expansion, with a 200 percent increase in capacity at each facility. These centers will receive substantial funding — SR10 million for Huraymila and SR30 million for Jazan — to ensure advanced care and accommodate more patients in need of dialysis. 

In parallel with these service expansions, the Kingdom is enhancing its medical evacuation capabilities by developing and activating medical evacuation centers, command and control hubs, and advanced ambulance services across the country. 

Notably, the National Health Emergency Operations Center has earned recognition from the World Health Organization for its efficiency and preparedness, positioning Ƶ as a leader in healthcare crisis management and emergency response. 

Healthcare achievements 

The Ministry of Finance budget report highlighted the issuance of 113 million electronic prescriptions through the Wasfaty service, resulting in SR1.3 billion in savings and reducing costs by SR2.4 billion. 

The Wasfaty service is an electronic prescription platform introduced by the Saudi Ministry of Health. It allows doctors to prescribe medications electronically, replacing traditional paper prescriptions. 

This service is part of Ƶ’s broader efforts to digitize healthcare services and improve efficiency. Through this platform, prescriptions can be directly sent to pharmacies, streamlining the process for both patients and healthcare providers. It also enhances medication tracking, reduces prescription errors, and helps manage healthcare costs more effectively. 

Emergency services have seen a 20 percent improvement in response time, enhancing life-saving efforts with more efficient ambulance and air transport services. 

Health coverage has expanded, with 12.5 million beneficiaries and a reduction in patient transfers outside local areas. 

Operational efficiency has been boosted, leading to a 27 percent increase in scheduled surgeries and a 91 percent improvement in emergency service access within four hours.  

The localization of specialized tests has grown by 13.1 percent, reducing reliance on external laboratories and cutting long-term costs. 

Dental services have also flourished, with a 137 percent increase in clinic capacity, a 200 percent rise in appointments, and a 250 percent growth in primary healthcare services.  

Additionally, the provision of advanced ambulances has improved services for challenging terrains and mass casualty incidents. The sector has also achieved 17 international accreditations, raising the health compliance rate to 84 percent across 252 facilities, solidifying its commitment to global standards. 

Digital advancements 

Investment in digital healthcare systems is proving beneficial in improving performance and health outcomes, as highlighted by the Organization for Economic Cooperation and Development. 

According to the World Economic Forum, Ƶ allocated over $50 billion in 2023 to initiatives, including digital health services aimed at improving efficiency and accessibility.  

McKinsey predicts that the widespread adoption of digital solutions could bring an additional $15 billion to $27 billion in economic benefits by 2030. 

Ƶ’s partnership with Orion Health to create the world’s largest health information exchange, connecting 5,000 institutions and 32 million people, is one example of such efforts. 

Artificial Intelligence, especially generative AI, is expected to play a significant role in improving patient care and healthcare efficiency, with the potential to contribute $320 billion to the Middle East’s economy by 2030, according to the WEF.  

Robots are also being explored for improving precision, workplace safety, and elderly care. Ƶ, for instance, saw a 52 percent increase in robotics company registrations between 2022 and 2023. 

As Ƶ continues to focus on digital health, AI advancements, and comprehensive care models, its efforts are poised to transform the sector, improve health outcomes, and support the well-being of its growing population.  


Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch 

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch 
Updated 53 sec ago

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch 

Global sukuk surpasses $1tn amid strong Q3 issuance: Fitch 

RIYADH: Global sukuk outstanding crossed $1 trillion by the end of the third quarter of 2025, representing a 15.5 percent year-on-year increase, driven by steady Islamic investor demand and issuers’ diversification needs, said Fitch Ratings. 

In its latest dashboard, the credit rating agency revealed core markets issued about $80 billion of sukuk in the third quarter of 2025, making it the most active third quarter on record. 

The surge occurred despite challenges including new Shariah requirements, geopolitical events in the Middle East, summer holidays, trade war uncertainties, and volatility in interest, foreign exchange, and commodity markets. 

Bashar Al-Natoor, global head of Islamic Finance at Fitch Ratings, said: “Global sukuk issuance is likely to surpass 2024 this year due to lower rates, steady Islamic investor demand and issuers’ funding and diversification needs, with 2026 prospects being promising.” 

He added: “Risks persist from new Shariah requirements, geopolitics and market volatility, but fundamentals are solid.” 

Sukuk, also known as Islamic bonds, are Shariah-compliant debt products that allow investors to gain partial ownership of an issuer’s assets until maturity. 

Al-Natoor noted that 80 percent of Fitch-rated sukuk are investment grade, with no defaults or fallen angels reported in the third quarter. 

The report also highlighted that bond issuance in core markets declined by 17.6 percent compared with the previous quarter. 

Sukuk continues to rise in significance in emerging markets, with a growing share of outstanding debt capital markets in the Gulf Cooperation Council region at 40 percent and across the Association of Southeast Asian Nations at 16 percent. 

The agency further said that sukuk accounted for over 35 percent of total debt capital market issuances in core markets including the GCC, Malaysia, and Indonesia, as well as Turkiye, and Pakistan. 

In a report released in August, the agency said the value of sukuk rated by Fitch Ratings exceeded $210 billion in the first half of 2025, a 16 percent increase from a year earlier, as demand for Shariah-compliant debt continues to accelerate across global markets. 

The US dollar remained the dominant issuance currency, accounting for over 90 percent of rated sukuk, followed by the Malaysian ringgit at 6.2 percent. 

The steady momentum of global sukuk markets underscores the expansion of debt markets in countries like Ƶ, where domestic and international investors seek diversification and stable returns. 

Ƶ accounted for 18.9 percent of the $250 billion US dollar debt issuance in emerging markets excluding China during the first half of 2025, slightly higher than the 18.5 percent recorded during the first five months of 2024, when total issuance reached $200 billion. 

Fitch said Ƶ was followed by Brazil at 10.6 percent and the UAE at 8.7 percent of total issuances in the period. 


Saudi industrial output rises 7.1% in August on manufacturing, mining boost

Saudi industrial output rises 7.1% in August on manufacturing, mining boost
Updated 09 October 2025

Saudi industrial output rises 7.1% in August on manufacturing, mining boost

Saudi industrial output rises 7.1% in August on manufacturing, mining boost

RIYADH: Ƶ’s industrial output climbed 7.1 percent year on year in August, driven by strong gains in the manufacturing and mining sectors, official data showed. 

According to preliminary figures from the General Authority for Statistics, the Kingdom’s Industrial Production Index rose to 114.2 during the month, reflecting a 1.42 percent increase from July. 

Manufacturing activities increased by 5.6 percent year on year in August, primarily propelled by an 8.9 percent rise in the production of coke and petroleum products.  

Mining and quarrying output advanced 8.1 percent, supported by higher oil production, which averaged 9.72 million barrels per day, up from 8.99 million bpd a year earlier. 

Strengthening the manufacturing sector is a key objective under Ƶ’s Vision 2030 agenda, as the Kingdom continues to diversify its economy and reduce dependence on crude revenues. 

“Preliminary results indicate a 7.1 percent increase in the Industrial Production Index in August 2025 compared to the same month of the previous year,” said GASTAT. 

The authority attributed this growth to rises in key sectors, including mining and quarrying, manufacturing, and electricity, gas, and water supply activities. 

The manufacture of chemicals and chemical products also rose 8.6 percent compared with August 2024. 

On a month-to-month basis, the manufacturing sub-index advanced 0.3 percent, driven by a 0.4 percent increase in the production of coke and refined petroleum products. 

Compared to July, mining and manufacturing activities rose 2.1 percent in August.  

GASTAT reported that electricity, gas, steam, and air conditioning supply activities recorded an annual increase of 8.7 percent, while water supply, sewerage, waste management, and remediation operations rose 6 percent. 

In August, oil-related activities expanded 8.3 percent year on year and 1.7 percent month on month, while non-oil activities grew 4.4 percent annually and 0.7 percent from the previous month — underscoring Ƶ’s ongoing efforts to diversify its industrial base under Vision 2030. 

In a separate report released in September, GASTAT said Ƶ’s real gross domestic product grew 3.9 percent in the second quarter, fueled by robust non-oil activity that extended its growth streak to 18 consecutive quarters. 


Closing Bell: Saudi main index slips to close at 11,559 

Closing Bell: Saudi main index slips to close at 11,559 
Updated 08 October 2025

Closing Bell: Saudi main index slips to close at 11,559 

Closing Bell: Saudi main index slips to close at 11,559 

RIYADH: Ƶ’s Tadawul All Share Index ended lower on Wednesday, falling 23.96 points, or 0.21 percent, to close at 11,559.27.  

The total trading turnover for the main index stood at SR7.62 billion ($2.03 billion), with 619.4 million shares traded. A total of 60 stocks advanced, while 191 declined.  

The MT30 Index, which tracks the top 30 companies by market capitalization, also slipped 1.75 points, or 0.12 percent, to 1,507.62.   

In contrast, the Nomu parallel market gained 172.63 points, or 0.68 percent, to close at 25,693.25, with 47 gainers and 41 losers.  

Saudi Paper Manufacturing Co. was the day’s best performer, climbing 3.03 percent to SR59.60. It was followed by Naqi Water Co., which rose 2.71 percent to SR56.95, and Al Babtain Power and Telecommunication Co., which increased 2.50 percent to SR61.50.  

Middle East Pharmaceutical Industries Co. gained 2.13 percent to SR134, while Naseej International Trading Co. advanced 2.03 percent to SR90.30.  

On the downside, Chubb Arabia Cooperative Insurance Co. recorded the sharpest fall, slipping 3.87 percent to SR39.70. Saudi Printing and Packaging Co. dropped 3.66 percent to SR10.79, while Emaar the Economic City fell 3.55 percent to SR13.30.   

Saudi Reinsurance Co. decreased 3.05 percent to SR49.98, and Gulf General Cooperative Insurance Co. shed 3.02 percent to SR5.13.  

On the announcement front, Rabigh Refining and Petrochemical Co. announced developments regarding the binding share sale and purchase agreement between Saudi Aramco and Sumitomo Chemical Co. Ltd.   

The company said the agreement involves the transfer of marketing rights for products currently held by Sumitomo and its affiliates to Saudi Aramco and its subsidiaries.   

The company confirmed that it has entered into related agreements to finalize the amendments required under the “Omnibus Amendment Agreement.”  

Petro Rabigh shares closed 0.26 percent lower at SR7.70.  

Meanwhile, Saudi Vitrified Clay Pipes Co. said that the Saudi Authority for Industrial Cities and Technology Zones approved a waiver of the lease agreement to Al-Muthahidah Al-Manaqiyah Industries Co., making its SR45 million factory sale binding.  

The financial impact will be reflected in the third quarter of 2025, the company said. 

SVCP shares closed 0.86 percent lower at SR27.76.  

In addition, Thimar Advertising, Public Relations and Marketing Co. announced filing a legal lawsuit before the Securities Disputes Resolution Committee against Middle East Financial Investment Co., the manager of the Saudi Film Fund, in connection with a previously signed SR37.5 million investment agreement.   

The company said the disputed amount remains recorded as a debit balance and will be reclassified once a ruling is issued.  

Thimar Advertising’s shares closed 0.69 percent lower at SR15.82.  


Ƶ, Morocco forge pact to protect investments 

Ƶ, Morocco forge pact to protect investments 
Updated 08 October 2025

Ƶ, Morocco forge pact to protect investments 

Ƶ, Morocco forge pact to protect investments 

JEDDAH: Ƶ and Morocco have signed an agreement to encourage and protect mutual investments, aiming to safeguard investors’ rights and boost cross-border capital flows as the two nations strengthen economic cooperation. 

The deal was signed in Rabat by Saudi Investment Minister Khalid Al-Falih and Moroccan Minister of Economy and Finance Nadia Fettah Alaoui during the Saudi minister’s official visit to the North African nation. 

This comes amid growing economic relations, with trade between the two countries reaching SR5 billion ($1.33 billion) in 2024. Saudi exports accounted for SR4.3 billion, while imports stood at SR640 million. 

In a post on its official X account, the Saudi Ministry of Investment said both ministers signed “an agreement to encourage and protect mutual investments between the two Kingdoms, to strengthen the economic partnership between them, safeguard investors’ rights, and support the flow of investments in various sectors.” 

Under the agreement, the two countries committed to creating a stable and transparent environment for investors. It guarantees fair and equitable treatment, freedom to transfer funds, and protection against expropriation without fair compensation. The pact also enables investors to seek international arbitration in the event of disputes 

Al-Falih and Alaoui also discussed ways to enhance financial partnerships, economic policies, stimulate growth, and strategies for financing major developmental projects. 

Morocco ranks as Ƶ’s 57th largest export partner and 51st for imports, with key trade including vehicles, insulated wires, fertilizers, and clothing from Ƶ, and refined petroleum, vehicles, accessories, and wheat from Morocco. 

The deal also aims to promote sustainable economic growth and address challenges faced by investors, thereby strengthening bilateral economic cooperation and deepening the strategic partnership between the two countries. 

In another post, the Investment Ministry said Al-Falih held a bilateral meeting with Moroccan Minister of Investment, Convergence, and Evaluation of Public Policies Karim Zidane. 

“They discussed the strategic vision for sustainable development, the evaluation of public policies and the improvement of the business environment and explored ways to enhance economic cooperation between the two countries,” the post added.

During his visit, Al-Falih also met with Morocco’s Minister of Industry and Trade Ryad Mezzour, with whom he discussed strengthening industrial and commercial cooperation, developing manufacturing industries, and attracting new investments. 

The Saudi minister also met with several Moroccan government officials and a group of business and financial leaders to strengthen investment relations and address challenges facing investors in both countries. 


Riyadh Air ready for take-off with first flight to London on Oct. 26

Riyadh Air ready for take-off with first flight to London on Oct. 26
Updated 09 October 2025

Riyadh Air ready for take-off with first flight to London on Oct. 26

Riyadh Air ready for take-off with first flight to London on Oct. 26
  • Here’s a sneak peek at its first flight, luxury lounge launch, and new partnerships

RIYADH: Announced at its headquarters in the Kingdom’s capital, Riyadh Air is officially taking to the skies — and it’s earlier than you think.

The airline’s maiden flight will depart from Riyadh to London’s Heathrow on Oct. 26 with a Boeing 787-9 technical spare aircraft named “Jamila,” which means “beautiful” in Arabic.

Riyadh Air, the newest national airline for Ƶ, was announced in 2023 and is owned by the Kingdom’s Public Investment Fund.

As well as revealing the maiden flight, the airline also announced a string of fresh updates — from its opening of a luxury lounge, launching of a loyalty program, as well as new high-profile partnerships.

Talking to Arab News, Riyadh Air CEO Tony Douglas said: “I’ll be honest, on a personal level it’s almost overwhelming. And I’m probably speaking on behalf of the whole of the Riyadh Air family. It is a historic moment. It’s been a three-year pathway to perfect, and the next stage of this is leading us through to going live on Oct. 26, daily service to London Heathrow.” 

"We’ve got two new aircraft soon to be delivered. We need three to start commercial operations, with ticket sales to the general public. So we’re going to put Jamila, which is our technical spare aircraft, onto Heathrow first. When the first new one gets delivered, we switch Jamila on to Dubai, second destination. The new aircraft goes on to Heathrow.” 

Flights to Dubai will soon follow, with winter 2025 and summer 2026 destinations to be announced imminently.

"When the second new aircraft arrives, that one goes on to Dubai, Jamila retires as the technical spare and then we open to general public sales. And it’s going to be very soon,

“It’s very, very soon. The first aircraft came out the paint shop 10 days ago. It’s finished. Obviously, testing and certification, it takes time. We’re not in control of it, hence the reason we’re not giving a precise date. But why have we done this release, this press conference today, is we know it’s imminent,” the CEO added. 

“We are not just selling tickets; we are selling an experience,” Osamah Al-Nuaiser, senior vice president of marketing and corporate communications, told Arab News.

The first daily launch flights will carry select guests, allowing the airline to refine operations and the overall experience before general commercial passengers are welcomed.It was also announced that travelers will be welcomed into Riyadh Air’s first premium airport experience — the “Hafawa Lounge” at King Khalid International Airport, located between Terminals 1 and 2. 

“Hafawa” is an Arabic word that embodies warmth and hospitality. Spanning nearly 2,000 sq. meters and accommodating 370 guests, the lounge is exclusively for Business Elite and Business Class travelers and will have private and communal spaces and dining areas.

Riyadh Air is also launching its loyalty program “Sfeer,” now open to travelers via the Riyadh Air website. 

Meaning “Ambassador” in Arabic, early registrants will receive priority bookings and other perks. 

When fully activated in 2026, “Sfeer” will feature gamified challenges, leaderboards, invitations to exclusive events, complimentary onboard Wi-Fi and a range of benefits from global partners.

Commenting on Sfeer, the CEO said: "So this is really exciting for us as well. To the best of our knowledge, we can’t think of another airline that launched the loyalty program at exactly the same time as launching the airline. One of the many benefits of signing up straight away to become a Sfeer member is you will become a Founders Club member as well. That will give lots of unique benefits, but also the ability to start now planning your travel with Riyadh Air.”

A cornerstone of Riyadh Air’s international strategy is its partnership with Saudia Airlines, the Kingdom’s national carrier, Al-Nuaiser emphasized.

“Saudia Airlines is very important. We started the first airline partnership with Saudia and the reason being we need to integrate not compete. Of course, we need to make sure that there’s synergy between both national carriers,” Al-Nuaiser told Arab News.

The arrangement allows travelers to earn and redeem loyalty points across both carriers, Riyadh Air and Saudia, strengthening integration and connectivity rather than competition.

A partnership with Saudi wellness brand Kayanee was also announced, which will see the company provide loungewear and amenity kits for Business Elite, Business, and Premium Economy cabins. 

Another major announcement focuses on Riyadh Air’s partnership with the popular ride-sharing brand Uber, which is already widely-used in Ƶ. This collaboration will provide seamless ground transportation for travelers and integrate loyalty benefits, marking a key step in connecting the seamless transport of passengers from doorstep to departure.

Cabin crew uniforms are designed by Paris-based Saudi designer Mohammed Ashi, and were unveiled in June, 2024, at Haute Couture Week in the French capital.

As announced earlier this year, Riyadh Air’s catering will be handled by Saudi company Catrion under a five-year, SR2.3 billion ($610 million) contract, ensuring consistent food and beverage quality across all flights. Menus promise to blend Saudi and international flavors for a premium culinary experience— and plenty of Saudi coffee.

Since its launch two years ago, Riyadh Air has partnered with 10 other global carriers including Delta, Virgin Atlantic, and Turkish Airlines, as well as China Eastern, Singapore Airlines, and EgyptAir, enabling gradual network expansion.

Underlining the pace of its development, Riyadh Air has grown from fewer than 10 employees to nearly 600.

“I’m employee number nine in the airline. So I’m part of the founding members of Riyadh Air. Never been prouder than seeing the establishment of this airline come to life, but also to have been blessed with the team that has been growing the trajectory,” Al-Nuaiser said.

He also emphasized Riyadh Air’s Saudi roots and cultural mission, saying: “We are from Riyadh and we will serve the people of Riyadh and the people of the Kingdom first. At the same time, we want to attract tourists and business travelers as part of the national strategy for tourism.”

Al-Nuaiser added: “We want to take the hospitality and generosity of the people and make sure that we also carry that and connect Riyadh to the world and the world to Riyadh. Flying is such a beautiful privilege— we want to bring a little bit of glamor back to the skies. We want to create an icon that we all are proud of.”