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GDP
Saudi keeps its A+ rating from S&P, but the export route it rests on has just been stalled
The Yanbu workaround S&P credited for withstanding the war is edging the Kingdom toward the…
Saudi non-oil growth held up in 2Q, and the state paid for most of it
Real GDP shrank 4.7% y-o-y in 2Q 2026, with a sharp contraction in oil activity
Forecasters agree Saudi dodged the export squeeze, they split on whether spending eats the gains
Rerouting most of its crude through the East-West pipeline kept revenue intact, the deficit call…
War spending outruns oil windfall
The Kingdom is back to the fiscal and capital-raising pressures it faced before the fighting,…
Inflation
Saudi construction cost growth held in August, with labor and operated machinery the hottest lines
The blended figure held near 2%, but machinery hired with an operator rose as much…
Forecasters still see Saudi inflation contained through 2027 despite regional escalation
The SAR peg and capped fuel are doing the work. The risk sits in rents,…
Saudi inflation stayed at 1.8% in August in the last pre-escalation reading
Housing added 0.8 of the 1.8 points as the shock stayed offstage
Construction cost growth slows to a four-month low, but war-sensitive lines are still rising
Equipment rentals and materials, the inputs most exposed to logistics disruptions, are still climbing even…
PMI
Demand lifts Saudi’s non-oil private sector growth to a seven-month high
The home market is driving the recovery, with firms hiring and building capacity for demand…
Saudi PMI climbs to a six-month high of 53.8 in August
Output rose at a seven-month high as domestic demand offset another drop in foreign orders
Saudi PMI eases to 53.1 in July but keeps up fourth straight months of expansion
Domestic demand did the heavy lifting, keeping output and new orders rising
Saudi non-oil sector hits four-month high on sentiment optimism and domestic demand
The headline PMI rose to 53.3 in June, up from 52.8 in May
Growth projections
IMF upgrades Saudi 2025 growth forecast to 4.0%
The upward revision is boosted by an increase in crude output, coupled with a robust…
GDP expands in 2Q on robust non-oil growth
Non-oil activities saw the strongest growth, expanding 4.7% y-o-y
Saudi GDP growth to fall behind peers in the GCC, poll suggests
Saudi’s GDP growth is set to come in at 4.5% in 2025, up 0.4 percentage…
IMF joins World Bank in trimming (ever so slightly) Saudi’s growth outlook
The IMF raised its Saudi GDP growth forecasts in 2025 to 6.0%
Purchasing managers’ index
Non-oil business activity posts strong expansion in August
The seasonally adjusted figure hit 56.4 during the month, slightly up from 56.3 in July
Non-oil business activity continues to expand, but loses momentum
While output expanded in July, the pace of growth was the slowest in three-and-a-half years
Saudi’s PMI dips in December for the first time since August
The new orders subindex climbed to 65.5 in December up from 63.4 the previous month
Non-oil economy posts record growth in November
Strong demand drove businesses to shore up their inventories and ramp up hiring
Tourism
Domestic demand props up Saudi tourism headcount as war dents high-spending foreign arrivals
The number of tourists may have grown in 1Q 2026, but spending is down even…
Saudi Arabia is getting another Amaala wellness resort this month
The resort will build stays around individual health goals, from weight loss and fitness to…
PIF puts Al Khafji on Saudi tourism map
Gulf Coast Development Company will develop an integrated tourism and residential destination with private sector…
THIS MORNING: A lost year for regional tourism?
90-day cap for GCC-registered vehicles
Insurance
Consolidation, not pricing, will decide Saudi insurers’ survival, Moody’s VP says
Pricing discipline will stay difficult without further consolidation, which will be critical for sector income…
WSM gets the regulatory okay for new debt program
Plus: Jeddah Islamic Port gets a new shipping service
Growth + consolidation incoming for ins. sector
The strategy comes as the sector has long been dominated by health and motor coverage
3Q earnings keep rolling in
Bahri, Bupa Arabia, and AlRajhi Takaul saw their bottom lines widen in 3Q 2025, while…
Real estate
Four new rigs push Arabian Drilling to a record backlog
Plus: Umm Al Qura sells its third Masar plot in under two weeks
Saudi rental transactions jump as home sales fall on buyer caution
The value of real estate transactions in Saudi Arabia fell 15% y-o-y to SAR 24.4…
Private capital joins Expo 2030 Riyadh with SAR 3.2 bn JV
The 2.3k-unit Expo Village is designed to serve the six-month event and endure as a…
Gulf Coast Real Estate Development to break ground on Al Khafji coastal development this year
Plus: Alramz secures SAR 500 mn in financing from Al Rajhi
Fintech
Barq hits unicorn status with USD 329.5 mn Series A
The fintech player plans to use the funds to support its expansion, including a planned…
Tabby hits USD 6.5 bn valuation on Series F round
The BNPL firm is building toward full financial services but is biding its time for…
My Morning Routine: Fadi Al Awami, founder of The Consultation Center
On the move from banking to advisory, the fintech-versus-banks question, and the data that lenders…
MoneyHash integrates Azm Fintech’s Edaat platform for Saudi merchants
Although industry-agnostic, MoneyHash targets high-volume, complex payment sectors like retail, e-commerce, travel, fintech, digital services,…
Islamic finance
SNB hires advisors for its potential FCY Sukuk issuance
The issuance will be made available for subscription to eligible investors locally and internationally
Retail investors can now buy pieces of sovereign sukuk
Good moring, wonderful people. We hope you had a great weekend and are looking forward…
Saudi Electricity Company redeems sukuks
The bonds were set to mature this week
BSF closes second issuance from USD 4 bn sukuk program
The offering was 4x oversubscribed