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French minister affirms France’s commitment to increase, diversify investments in Saudi economy

19Dec

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Entrepreneurs, Investment, Islamic Finance, Lifestyle

French minister affirms France’s commitment to increase, diversify investments in Saudi economy

On the eve of his first visit to Saudi Arabia, Minister for Foreign Trade, Attractiveness, and French Nationals Abroad Olivier Becht met with Arab News en Français to outline his programme, which would improve Saudi-French economic and commercial connections. “This year, we celebrated the 20th anniversary of the very first Franco-Saudi archaeological mission launched in Hegra under the supervision of archaeologist Laila Nehme. This cooperation has, since then, flourished, and now we have more than 15 Franco-Saudi archaeological missions, 11 of which are still being explored today,” said Becht. He emphasised that the April 10, 2018 signing of the intergovernmental agreement for the development of AlUla was a significant boost to collaboration in the field of archaeology and herita...

Saudi Arabia’s non-oil sector growth highest since September 2021 as PMI hits 58.5

According to a report, Saudi Arabia's Purchasing Managers' Index hit 58.5 in November, the highest level since September 2021, as the Kingdom's non-oil private sector expands despite mounting inflationary pressures. According to the most recent Riyad Bank Saudi Arabia PMI survey, the Kingdom's non-oil private sector has grown for the 27th consecutive month. Saudi Arabia's PMI was 57.2 in October, up from 56.6 in September. S&P Global's index shows that numbers above 50 indicate expansion, while levels below 50 indicate contraction. “The Saudi economy (continued) its expansion in the non-oil sector in November, business conditions have improved across the board in light of rising demand,” said Naif Al-Ghaith, chief economist at Riyad Bank. According to Al-Ghaith, outp...

Crown Prince announces Sindalah, NEOM’s first luxury island development

/*! elementor - v3.8.1 - 13-11-2022 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block} Crown Prince Mohammed bin Salman stated that NEOM's first luxury island destination Sindalah will be home to superyachts and high-end apartments as he introduced the newest project aimed at boosting Saudi Arabia's tourism industry. Sindalah is one of a set of islands that will be developed as part of the giga-project, and it is planned to provide 3,500 jobs in the tourism sector as well as hospitality and recreational services. According to the Saudi Press Agency, the island will serve as a primary gateway to the Red Sea, offe...