海角直播

海角直播鈥檚 Vision 2030 transformation 85% complete, says Al-Falih

 Saudi Investment Minister Khalid Al-Falih speaks at the Fortune Global Forum Conference in Riyadh on Sunday.
Saudi Investment Minister Khalid Al-Falih speaks at the Fortune Global Forum Conference in Riyadh on Sunday.
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Updated 12 min 58 sec ago

海角直播鈥檚 Vision 2030 transformation 85% complete, says Al-Falih

海角直播鈥檚 Vision 2030 transformation 85% complete, says Al-Falih

RIYADH: 海角直播鈥檚 Vision 2030 program is progressing steadily, with 85 percent of the targets outlined in the initiative completed or on track for completion by the end of 2024, according to the country鈥檚 investment minister.聽

Speaking at the Fortune Global Forum Conference in Riyadh, Khalid Al-Falih said that the non-oil sector鈥檚 contribution to 海角直播鈥檚 gross domestic product currently stands at 56 percent, up from 40 percent before the launch of Vision 2030.聽

The minister added that the Kingdom鈥檚 economy has doubled in size from $650 billion to about $1.3 trillion since the launch of Vision 2030 program.聽

Launched in 2016, 海角直播鈥檚 Vision 2030 program aims to transform the Kingdom both economically and socially. Strengthening the non-oil sector is one of the crucial goals outlined in this initiative, as the Kingdom currently pursues broader economic diversification efforts to reduce its reliance on crude revenues.聽

鈥淲e (海角直播) have made remarkable progress in transforming our economy and society. As of the end of 2025, 85 percent of our initiatives were completed or on track with most targets met or exceeded,鈥 said Al-Falih.聽

Al-Falih also added that the number of international firms licensed to establish their regional headquarters in Riyadh has reached 675.聽

The regional HQ program offers a 30-year corporate tax exemption, withholding tax relief, and regulatory support, reflecting efforts to position the Kingdom as a regional business hub and attract multinational corporations to the capital.

Some of the noted firms that have established regional bases in Riyadh include Northern Trust, IHG Hotels & Resorts, PwC, and Deloitte.聽

鈥淲e have our regional headquarters program, which was launched targeting 500 RHQs by 2030. I am happy to say to this audience, we have reached 675 regional headquarters already,鈥 said Al-Falih.聽

The minister added that 海角直播 has made remarkable progress in reducing unemployment, with the current joblessness in the Kingdom standing at just seven percent.聽

He further said that women鈥檚 participation in the workforce has reached 37 percent, exceeding Vision 2030 targets.聽

In a separate panel discussion, Al-Falih said that British bank Barclays鈥 application to launch its regional headquarters in Riyadh will be approved soon.聽

鈥淚f I may break that news, we will be recognizing Barclays for the regional headquarters in a couple of days, and I鈥檇 like to thank you for that word of confidence into the kingdom as a platform,鈥 said Al-Falih.聽


Saudi agriculture sector adds $31.5bn to GDP聽聽

Saudi agriculture sector adds $31.5bn to GDP聽聽
Updated 38 sec ago

Saudi agriculture sector adds $31.5bn to GDP聽聽

Saudi agriculture sector adds $31.5bn to GDP聽聽

JEDDAH: 海角直播鈥檚 agricultural sector contributed $31.5 billion to the country鈥檚 gross domestic product in 2024, driven by rising production and initiatives that strengthened food self-sufficiency, according to official data. 

Total agricultural and food production exceeded 16 million tonnes last year, reflecting progress toward building resilient, sustainable food systems, the Ministry of Environment, Water and Agriculture said in a release. 

Despite roughly 90 percent of the country being desert, 海角直播 has expanded domestic crop production and reduced reliance on imports. The Kingdom has already reached full self-sufficiency in dates, fresh dairy products, and table eggs. 

Speaking at the 42nd Saudi Agriculture Exhibition in Riyadh, Ali Al-Zahrani, director of MEWA鈥檚 National Agriculture Strategy Implementation Department, said the sector has grown at a compound annual rate of more than 7 percent over the past five years.  

Al-Zahrani said the country鈥檚 agriculture strategy has played a key role in developing 海角直播鈥檚 agricultural sector and addressing major challenges over the past years, including water scarcity, harsh climatic conditions, low productivity in certain areas, and difficulties in marketing and distributing agricultural products. 

鈥淗e explained that the strategy sets clear objectives to ensure the sustainability of the agricultural sector and enhance its contribution to food security, economic growth, and social and environmental development,鈥 the release added, citing the official. 

Al-Zahrani added that this is achieved through the effective management of natural resources, adoption of innovative agricultural technologies, protection of farming systems and food safety, empowerment of small farmers, as well as the development of national capacities and expansion of investments and international partnerships.  

He pointed out that the ministry has launched 38 pioneering national initiatives under the strategy, including 11 to boost agricultural productivity, and five to restructure the sector and build capabilities, as per the ministry鈥檚 statement. 

The strategy includes five initiatives to support sustainable rural development programs, another five to strengthen plant and animal health under a One Health approach, and four to build resilient and sustainable food systems.  

Three initiatives, the official added, focus on enhancing natural resource sustainability and climate adaptation, while three others aim to improve marketing and agricultural services. 

In addition, two initiatives are designed to protect local products and promote exports, further supporting the sector鈥檚 growth and contribution to 海角直播鈥檚 food security and economic development goals. 

He added that the implementation of efficient irrigation systems has reduced the use of non-renewable water in agriculture by 52 percent compared with 2016, while soft agricultural loans from the Agricultural Development Fund have exceeded $1.9 billion. 

He highlighted investment opportunities for the private sector in plant and animal production, including integrated seed and seedling production projects, fruit and vegetable processing, intensive livestock farming, aquaculture, and large-scale poultry production. 

Al-Zahrani noted that the total domestic fruit production, including dates, surpassed 2.9 million tonnes, achieving 64 percent self-sufficiency, while vegetable production exceeded 3.5 million tonnes, reaching 78 percent self-sufficiency, with significant expansion of greenhouse systems alongside traditional open-field farming. 

The statement concluded that the ministry continues to offer incentives, including streamlined land rental and simplified licensing, to encourage investment and the adoption of innovative, sustainable agricultural practices. 


Saudi-listed sukuk and bonds rise to $185.5bn聽in Q3 聽聽

Saudi-listed sukuk and bonds rise to $185.5bn聽in Q3 聽聽
Updated 23 min 21 sec ago

Saudi-listed sukuk and bonds rise to $185.5bn聽in Q3 聽聽

Saudi-listed sukuk and bonds rise to $185.5bn聽in Q3 聽聽

RIYADH: The total value of Saudi-listed sukuk and bonds increased to SR695.8 billion ($185.5 billion) at the end of the third quarter of 2025, up 3 percent quarter on quarter.  

Listed sukuk and bonds represented 18.4 percent of 海角直播鈥檚 gross domestic product, slightly higher than 18.2 percent in the previous quarter, Argaam reported, citing data from Tadawul鈥檚 quarterly debt market report.  

Government sukuk and bonds continued to dominate the market, accounting for 97.6 percent of total listed debt at the end of the quarter, reaching SR679.1 billion. Corporate sukuk and bonds made up the remaining 2.4 percent, or SR16.7 billion.  

The growth in listed sukuk and bonds also aligns with the government鈥檚 broader debt management strategy.  

The National Debt Management Center announced its 2025 annual borrowing plan with projected funding needs of SR139 billion, covering both the anticipated budget deficit and upcoming debt maturities.   

As part of this plan, the NDMC completed a domestic sukuk issuance in August valued at SR5.31 billion, distributed across four tranches. These issuances are part of ongoing efforts to strengthen the domestic debt market and diversify the government鈥檚 financing sources in line with Saudi Vision 2030 objectives.  

Saudi investors held majority of listed debt instruments, owning SR677.4 billion, or 97.4 percent of the total.   

Foreign investors accounted for SR15 billion, representing 2.2 percent, while investors from Gulf Cooperation Council countries held SR3.4 billion, or 0.5 percent.  

Despite the increase in total market value, trading activity slowed significantly. The traded value dropped 89 percent quarter on quarter to SR1.78 billion from SR16 billion in the previous quarter.  

The number of executed trades also decreased to 10,414 in the third quarter, compared with 12,251 in the second quarter of 2025.  

The number of listed sukuk and bond issuances stood at 60, down slightly from 61 in the previous quarter.  

According to the data, the size of 海角直播鈥檚 listed sukuk and bond market has nearly doubled over the past five years, rising from SR358 billion in the first quarter of 2020 to SR695.8 billion in the third quarter of 2025.   


Oman鈥檚 money supply grows over 6% in August as credit and deposits expand聽

Oman鈥檚 money supply grows over 6% in August as credit and deposits expand聽
Updated 46 min 31 sec ago

Oman鈥檚 money supply grows over 6% in August as credit and deposits expand聽

Oman鈥檚 money supply grows over 6% in August as credit and deposits expand聽

RIYADH: Oman鈥檚 broad money supply expanded 6.1 percent year on year to 25.8 billion Omani rials ($67.1 billion) at the end of August, supported by stronger deposit growth and increased liquidity in the banking system, official data showed. 

According to the Central Bank of Oman, the rise was driven by a 6.9 percent increase in narrow money and a 5.8 percent rise in quasi-money, which includes savings, time deposits, and foreign currency deposits. 

The expansion in money supply coincided with steady credit growth and rising deposits across both conventional and Islamic banks. Total outstanding credit extended by other depository corporations increased 8.6 percent year on year to 34.1 billion rials at the end of August. 

The expansion in monetary aggregates reflects sustained liquidity conditions and continued policy support for private sector lending as Oman advances its fiscal and economic reforms under the Vision 2040 strategy. 

In its Monthly Statistical Bulletin, the Central Bank of Oman stated: 鈥淭he nominal GDP, as per the preliminary data released by the National Centre for Statistics and Information, showed an increase of 2.4 percent at end of first half of 2025 over the same period of 2024.鈥  

It added: The growth in GDP was mainly driven by the non-hydrocarbon sector. The non-hydrocarbon sector registered 4.1 percent growth, while the hydrocarbon sector declined by 0.2 percent.鈥 

Real gross domestic product grew 2.3 percent, while the hydrocarbon sector recorded a slight contraction of 0.2 percent. 

Currency held by the public declined 5 percent, while demand deposits rose 9.4 percent, reflecting higher banking activity and continued confidence in the financial system. 

In August, credit to the private sector expanded 6.5 percent to 28 billion rials, led by non-financial corporations, which accounted for 46.7 percent of total private sector credit, followed by households at 44.7 percent. 

Deposits with ODCs rose 7 percent to 33.3 billion rials, with private sector deposits up 7.5 percent to 22.4 billion rials. 

Households represented 50 percent of these deposits, followed by non-financial corporations at 30.6 percent, financial corporations at 17.2 percent, and other sectors at 2.2 percent. 

The combined balance sheet of conventional banks grew 7.3 percent from a year earlier, with total outstanding credit reaching 21.4 billion rials. 

Investments in government development bonds increased 12 percent to 2.2 billion rials, while holdings of foreign securities declined 7 percent to 2.3 billion rials. 

Aggregate deposits with conventional banks rose 5.5 percent to 26.1 billion rials, driven by a 9.6 percent increase in government deposits and a 6.1 percent rise in private sector deposits. 

Islamic banks and windows continued to expand at a faster pace, with total assets up 15.1 percent year on year to 9.1 billion rials, representing 19.7 percent of total banking system assets. 

Financing by Islamic institutions reached 7.3 billion rials, up 13.5 percent, while total deposits grew 12.9 percent to 7.2 billion rials. 

Interest rates continued to ease in line with global trends. The weighted average interest rate on Omani rial deposits with conventional banks declined to 2.53 percent at end-August 2025 from 2.70 percent a year earlier, while the weighted average lending rate fell to 5.49 percent from 5.60 percent.   

The overnight interbank lending rate decreased to 4 percent from 5.13 percent, reflecting the CBO鈥檚 reduction of the average repo rate to 5 percent from 6 percent, in line with the US Federal Reserve鈥檚 policy direction. 


海角直播鈥檚 non-oil exports rise 5.5% in August: GASTAT聽

海角直播鈥檚 non-oil exports rise 5.5% in August: GASTAT聽
Updated 26 October 2025

海角直播鈥檚 non-oil exports rise 5.5% in August: GASTAT聽

海角直播鈥檚 non-oil exports rise 5.5% in August: GASTAT聽

RIYADH: 海角直播鈥檚 non-oil exports rose 5.5 percent year on year in August to SR29.28 billion ($7.81 billion), supported by a sharp increase in re-exports even as shipments of locally produced goods softened, official data showed. 

According to the General Authority for Statistics, machinery, electrical equipment, and parts led the non-oil export basket, accounting for 25.4 percent of total shipments and recording a 79.8 percent annual increase.  

Chemical products ranked second with a 22.7 percent share, though exports in that category slipped 7.4 percent from a year earlier. 

Bolstering non-oil exports and diversifying economic activity remain central goals of 海角直播鈥檚 Vision 2030 agenda, as the Kingdom continues reducing its reliance on crude revenues. 

Affirming this trend, a report by S&P Global said 海角直播鈥檚 Purchasing Managers鈥 Index rose to 57.8 in August 鈥 the strongest reading since March. 

In its latest report, GASTAT stated: 鈥淣on-oil exports, including re-exports, recorded an increase of 5.5 percent compared to August 2024, while national non-oil exports, excluding re-exports, decreased by 6.7 percent. Moreover, the value of re-exported goods increased by 32.9 percent during the same period.鈥   

The authority added that 海角直播鈥檚 non-oil exports declined by 14 percent in August compared to July. 

Top destinations  

The UAE was the top destination for 海角直播鈥檚 non-oil shipments in August, receiving goods valued at SR9.87 billion. 

India ranked second with SR3.70 billion, followed by China at SR1.96 billion, Kuwait at SR1.03 billion, and Egypt at SR813 million. 

 

 

Turkiye received goods worth SR694 million, while Jordan and Singapore imported SR670.8 million and SR592.5 million, respectively. 

 

In a separate report released in September, GASTAT said 海角直播鈥檚 real gross domestic product expanded by 3.9 percent in the second quarter, fueled by robust non-oil activity that has now grown for 18 consecutive quarters. 

 

The authority noted that non-oil activities rose 4.6 percent year on year in the April鈥揓une period, underscoring the progress of Vision 2030 reforms aimed at diversifying the economy away from oil. 

 

Export gateways  

Jeddah Islamic Sea Port handled the largest volume of non-oil exports in August, valued at SR3.40 billion, followed by King Fahad Industrial Sea Port at SR3.21 billion and Ras Al Khair Sea Port at SR2.14 billion. 

Jubail Sea Port processed SR1.99 billion in non-oil shipments, while King Abdulaziz Sea Port in Dammam handled SR1.81 billion. 

By land, Al Bat鈥檋a Port was the main exit point with SR2.13 billion in non-oil exports, followed by Al-Hadithah and Al-Wadiah ports at SR903.9 million and SR512 million, respectively. 

Among airports, King Abdulaziz International Airport processed outbound goods valued at SR5.19 billion, followed by King Khalid International Airport at SR2.96 billion and King Fahad International Airport at SR377 million. 

Merchandise exports 

海角直播鈥檚 total merchandise exports reached SR99.09 billion in August, up 6.6 percent year on year, driven by a 7 percent increase in oil exports, GASTAT said. 

鈥淐onsequently, the percentage of oil exports out of total exports increased from 70.2 percent in August 2024 to 70.5 percent in August 2025,鈥 the authority added. 

Asia remained the largest market for Saudi exports in August, accounting for SR72.43 billion, followed by Europe at SR12.54 billion, Africa at SR7.27 billion, and the Americas at SR6.75 billion. 

China was the top destination for 海角直播鈥檚 overall merchandise exports at SR16.02 billion, followed by the UAE with SR11.04 billion, India with SR9.15 billion, South Korea with SR8.54 billion, and Japan with SR6.71 billion. 

In July, exports to the US totaled SR4.11 billion, while Egypt and Poland received shipments valued at SR3.55 billion and SR2.87 billion, respectively. 

海角直播鈥檚 imports rose 7.4 percent year on year to SR74.85 billion in August, while the merchandise trade surplus increased by 4.1 percent over the same period. 

Machinery, mechanical, and electrical equipment led imports, totaling SR22.30 billion, followed by transport parts at SR10.59 billion and chemical products at SR6.61 billion. 

Base metal imports amounted to SR6.02 billion, while inbound shipments of mineral products reached SR4.14 billion. 

By region, Asia remained the Kingdom鈥檚 largest source of imports, contributing SR42.30 billion in August, followed by Europe at SR20.13 billion and the Americas at SR8.37 billion. 

Africa supplied SR3.35 billion worth of goods, while imports from Oceania totaled SR696.6 million. 

海角直播 imported SR19.75 billion worth of goods from China, followed by the US at SR5.82 billion, the UAE at SR4.04 billion, and Germany at SR3.82 billion. 

India鈥檚 exports to 海角直播 totaled SR3.20 billion, while Japan and Italy shipped SR3.16 billion and SR2.48 billion, respectively. 

Sea routes dominated imports, accounting for SR42.89 billion, while air and land routes handled SR23.75 billion and SR8.20 billion, respectively. 

King Abdulaziz Sea Port in Dammam was the main entry point with SR19.14 billion in imports, followed by Jeddah Islamic Sea Port at SR16.40 billion, Ras Tanura at SR1.63 billion, and King Abdullah Sea Port at SR1.02 billion. 

By air, King Khalid International Airport received SR9.87 billion in imports, followed by King Abdulaziz International Airport at SR9.06 billion and King Fahad International Airport at SR4.31 billion. 

Through land, Al-Batha Port processed SR3.46 billion worth of goods, while Riyadh Dry Port and King Fahad Bridge handled SR2.02 billion and SR882.3 million, respectively. 


MENA鈥檚 smart cities prioritizing well-being over gigahertz

MENA鈥檚 smart cities prioritizing well-being over gigahertz
Updated 25 October 2025

MENA鈥檚 smart cities prioritizing well-being over gigahertz

MENA鈥檚 smart cities prioritizing well-being over gigahertz
  • NEOM鈥檚 chief futurist says real goal is to build cities that understand human rhythms and aspirations

RIYADH: For years, the vision of the 鈥渟mart city鈥 has been sold on a promise of hyper-efficiency: a world of sensors, seamless traffic, and artificial intelligence-driven automation. 

But as a wave of next-generation urban projects rises from the deserts of the Middle East and North Africa, a more profound question is emerging: What should a smart city actually do for its people?

The recent BRICS Urban Future Forum in Moscow, which drew thousands of global experts, made it clear that the conversation has shifted. The buzzwords of AI, robotics, and IoT were ever-present, but the central theme was one of human-centric transformation. But how do you turn that theme into a reality?

For Aisha Bin Bishr, former chief executive officer of the Dubai Digital Development Agency and former deputy chairman of the Board of Directors of EMAAR Development, the answer lies not in a specific technology, but in a foundational principle. 

In an interview with Arab News on the sidelines of the forum, she identified the crucial mechanism: 鈥淔rom my experience, the most critical mechanism is trust through governments.鈥

She added: 鈥淕overnments create transparent, predictable frameworks that share risks fairly. This gives the private sector the confidence to invest in public-good projects in emerging economies. The bottleneck is not technology or funding 鈥 it is collaboration.鈥

On this note, Kate Barker, executive board adviser and chief futurist for 海角直播鈥檚 flagship project, NEOM, told Arab News that 鈥渢he challenge is not technology or money, it is mindset.鈥 

She added that collaboration succeeds when leaders across sectors align around shared purpose rather than competition. 

鈥淩eal collaboration is co-design, not consultation. It is about leaders listening as much as they innovate. When well-being becomes the shared measure of success, we shift from short-term targets to long-term value creation, and that is where true societal progress begins,鈥 Barker added.

Bin Bishr went on explaining that if governments ensure regulatory stability and people-centric outcomes, the private sector will bring the innovation and the capital needed for this project. The real story in the MENA region is no longer about the technology itself, but the new stack of urban priorities being built from the ground up 鈥 priorities like climate resilience, mental well-being, and community cohesion.

From digital nervous system to a city that cares

If a smart city were a human body, technology would be its nervous system, a network of IoT sensors and ICT fibers taking in information. But the purpose of this system is not just to react, but to proactively improve the quality of life. This ethos was echoed by global leaders at the forum. Bin Bishr outlined this evolution, describing a shift from simple digitalization toward a human-centered transformation.

鈥淭echnology is only a tool, not an end in itself,鈥 she told at the Moscow forum. 鈥淭he question is no longer what technology we buy, but whether the innovation makes people happier, reduces inequality, and strengthens resilience to climate change.鈥

This reframes the entire smart city endeavor. The goal is not a digital city of pure data, but a sustainable settlement 鈥 in environmental, economic, and cultural terms 鈥 that meets the needs of the present without compromising the future.

The new KPIs: happiness, health, and community

Across the region, this philosophy is being put into practice, with projects that measure success not just in gigabits, but in well-being metrics.

In 海角直播鈥檚 NEOM, Barker presented a vision where AI is less an administrator and more a companion. She described a future where each resident has an AI twin that monitors health and advises on personal development.

In an interview with Arab News, Barker emphasized that 鈥渁 truly smart city should make people feel seen, not surveilled.鈥 She explained that the most important thing is to create a sense of belonging and psychological safety. 

The question is no longer what technology we buy, but whether the innovation makes people happier, reduces inequality, and strengthens resilience to climate change.

Aisha Bin Bishr, Former chief executive officer of the Dubai Digital Development Agency

鈥淭hat requires leadership with empathy and foresight, people who see technology not just as infrastructure but to enhance quality of life.鈥

The chief futurist stated that efficiency alone can make life faster, but empathy makes it meaningful, and the real goal is to build cities that understand human rhythms and aspirations.

Sultan Al-Raisi of the Dubai Future Foundation presented how Dubai is creating a sandbox to fast-track innovation. By offering regulatory relaxations and direct access to policymakers, the city is actively cultivating solutions designed to ease urban life. 

The focus is on removing friction and stress for its citizens and the innovators who serve them, fostering a sense of community and collaborative progress. On this note, Barker added: 鈥淲e always ask: does this technology make us more human or just more automated? That question sits at the heart of responsible leadership.鈥

At the Moscow forum, she described a future where each resident has an AI twin that monitors health and advises on personal development. 

鈥淭he AI Twin is not another assistant; it is a leadership tool for the self. It learns from how you live, helps prevent burnout, and supports better decisions about rest, focus, and growth,鈥 Barker explained to Arab News.

鈥淲hen technology enhances self-awareness and well-being instead of driving consumption, citizens become more resilient and self-led. That is how technology can elevate both individual potential and collective well-being within a city.鈥

The proof is in the pavement: recognizing human-centric tech

This new direction was formally recognized at the forum鈥檚 BRICS Urban Innovation Award. Notably, Moscow won in the 鈥淗uman-Centered Robotics鈥 category, not for having the most robots, but for deploying them in ways that tangibly improve the urban experience 鈥 from autonomous cleaning bots that handle seasonal leaves to robotic monitors that enhance construction site safety.

Even the robots on stage, like the humanoid Ardi and the avatar-moderator, were framed not as cold automations, but as integral parts of a future hybrid world where technology and humanity coexist to create a more connected, less stressful environment. 

FASTFACT

The real story in the MENA region is no longer about the technology itself, but the new stack of urban priorities being built from the ground up 鈥 priorities like climate resilience, mental well-being, and community cohesion.

The message from the global stage is clear: the competitive edge for the cities of tomorrow will not come from who has the most data, but from who can best use that data to foster resilience, inclusion, and happiness. 

The MENA region, with its projects and forward-thinking leadership, is positioning itself at the forefront of this new urban reality 鈥 building not just smarter cities, but wiser ones.

The most powerful innovation emerging from the MENA region is leadership itself, according to Barker. 

鈥淟eaders here are redefining what progress looks like, proving that ambition and humanity can exist side by side,鈥 she said.

The region is demonstrating that sustainable development is as much about social and emotional intelligence as it is about AI or automation. 

鈥淭he world will look to the Middle East as the place where leadership evolved from managing cities to shaping a new kind of civilization built on inclusion, purpose, and trust,鈥 Barker concluded.