黑料社区

黑料社区鈥檚 real GDP grows 5% in Q3: GASTAT聽

黑料社区鈥檚 real GDP grows 5% in Q3: GASTAT聽
The robust performance underscores progress under the Kingdom鈥檚 Vision 2030 strategy. Shutterstock
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黑料社区鈥檚 real GDP grows 5% in Q3: GASTAT聽

黑料社区鈥檚 real GDP grows 5% in Q3: GASTAT聽

RIYADH: 黑料社区鈥檚 economy grew 5 percent in the third quarter from聽a year earlier, driven by strong gains in both oil and non-oil sectors, official data showed.聽

According to flash estimates from the General Authority for Statistics, oil activities grew 8.2 percent, while non-oil output expanded 4.5 percent and government activities increased 1.8 percent during the same period.聽

This is the fastest pace since the first quarter聽of 2023, when real GDP was up 5.7 percent.

The robust performance underscores progress under the Kingdom鈥檚 Vision 2030 strategy, which aims to diversify the economy and reduce reliance on crude revenues.聽

This is in line with remarks by Minister of Economy and Planning Faisal Alibrahim, who said during a panel discussion at the Future Investment Initiative in Riyadh that 黑料社区鈥檚 GDP is expected to grow 5.1 percent in 2025, supported by continued momentum in non-oil sectors.聽

In its latest report, GASTAT stated: 鈥淭he main driver of growth in real GDP was non-oil activities, which contributed 2.6 percentage points, oil activities contributed 2 percentage points, government activities and net taxes on products each contributed 0.2 percentage points.鈥 聽

The authority reported that seasonally adjusted real GDP increased 1.4 percent in the third quarter compared to the previous three months.聽

Oil activities expanded 3.1 percent quarter on quarter, while non-oil and government activities rose 0.6 percent and 0.7 percent, respectively.聽

The report said: 鈥淥il activities were the main contributor to the growth of seasonally adjusted real GDP, adding 0.8 percentage points. Non-oil activities contributed 0.4 percentage points, government activities and net taxes on products each contributed 0.1 percentage points.鈥

Earlier this month, the World Bank raised its forecast for 黑料社区鈥檚 2025 economic growth to 3.2 percent, up from 2.8 percent projected in April, citing stronger oil output and robust non-oil activity.聽

In September, the Organization for Economic Cooperation and Development also revised its estimate for the Kingdom鈥檚 2026 GDP growth to 3.9 percent, compared with its previous projection of 2.5 percent.聽

According to GASTAT, flash estimates of quarterly GDP are produced within a short period after the end of the reference quarter, when data for the period is still incomplete. These early estimates provide an initial indication of economic performance and are later revised when full data becomes available.聽


PIF set to achieve goal of reaching $1tn in assets by year-end: Al-Rumayyan

PIF set to achieve goal of reaching $1tn in assets by year-end: Al-Rumayyan
Updated 30 October 2025

PIF set to achieve goal of reaching $1tn in assets by year-end: Al-Rumayyan

PIF set to achieve goal of reaching $1tn in assets by year-end: Al-Rumayyan

RIYADH: Yasir Al-Rumayyan, governor of the Public Investment Fund, said the fund鈥檚 assets have tripled since 2015, adding the fund's goal is to reach $1 trillion by the end of this year, 鈥渁nd we are very close to achieving it.鈥

The PIF has been the cornerstone of Saudi Vision 2030, with its workforce expanding from around 40 employees in 2015 to about 4,000 today. The fund has also established offices in major global cities.

Al-Rumayyan noted that the fund has launched more than 100 companies across a wide range of sectors to fill market gaps and drive economic diversification.

He revealed that a new PIF strategy is expected to be announced soon, as it is currently in the final stages of approval. The strategy will focus on six key sectors 鈥 tourism, travel and entertainment, as well as urban development, advanced manufacturing and innovation, logistics, renewable energy, and NEOM. 

This focus, he said, will help the fund prioritize investments according to clear timelines, emphasizing: 鈥淲e don鈥檛 want to approach all investments with the same level of priority.鈥

Al-Rumayyan also highlighted the PIF's success in revitalizing King Abdullah Economic City, part of the fund鈥檚 portfolio. He said the PIF increased its ownership from a minority to a majority stake, transforming the company 鈥 which had been largely inactive for nearly two decades 鈥 into a dynamic hub by attracting ports, companies, and automotive industries, among others.


黑料社区 and US strengthen strategic mining ties聽

黑料社区 and US strengthen strategic mining ties聽
Updated 30 October 2025

黑料社区 and US strengthen strategic mining ties聽

黑料社区 and US strengthen strategic mining ties聽

RIYADH: 黑料社区 and the US reiterate deepening strategic cooperation in the mining and minerals sector, focusing on critical mineral supply chains, mineral processing, and advanced mining technologies. 

The outcome followed a bilateral meeting between Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and US Deputy Secretary of Energy James Danly, held during the ninth Future Investment Initiative conference in Riyadh, according to the Saudi Press Agency.

The discussions built on the memorandum of cooperation signed in May between the Saudi Ministry of Industry and Mineral Resources and the US Department of Energy.

Both sides emphasized the importance of supporting sustainable growth in the mining sector and addressing rising global demand for critical minerals.

The meeting reaffirmed the strong historical relations and strategic economic partnerships between the two countries, particularly in the mining industry. 

Alkhorayef and Danly discussed opportunities in mineral processing, rare earth elements, and mining technologies, while also calling for greater international collaboration in the sector.

They also highlighted the annual Future Minerals Forum hosted by 黑料社区 as a key global platform for industry stakeholders to address challenges and promote innovative, sustainable solutions.

Alkhorayef invited Danly to attend the fifth edition of the Future Minerals Forum, scheduled to take place in Riyadh from Jan. 13 to 15, 2026


黑料社区 aims to double tourism鈥檚 GDP share to 10% by 2030

黑料社区 aims to double tourism鈥檚 GDP share to 10% by 2030
Updated 30 October 2025

黑料社区 aims to double tourism鈥檚 GDP share to 10% by 2030

黑料社区 aims to double tourism鈥檚 GDP share to 10% by 2030

RIYADH: 黑料社区 is aiming to double the tourism contribution to the national economy from the current 5 percent to solidify its position as a leading global destination, according to the Minister of Tourism.

Speaking at a session titled 鈥淎I and the Future of Tourism鈥 during the ninth Future Investment Initiative conference, Ahmed Al-Khateeb affirmed that the sector is a key pillar of Vision 2030, pivotal for diversifying the economy and creating jobs, the Saudi Press Agency reported.

鈥淭ourism accounts for 18 percent of global GDP and 5 percent of the Kingdom鈥檚 GDP (Gross Domestic Product),鈥 Al-Khateeb stated, according to SPA. 鈥淲e aspire to double that figure within the next five years, which will represent 10 percent of total jobs.鈥

The minister highlighted the rapid evolution of the Kingdom鈥檚 tourism landscape, noting the emergence of new segments including entertainment, sports, culture, and conferences, events, and exhibitions.

He pointed to Riyadh as evidence of this growth, declaring it one of the world鈥檚 most active cities for hosting major events.

To support this expansion, the ministry has conducted in-depth studies of more than 66 countries, which represent 80 percent of the global tourism market. The goal is to ensure strong connectivity with key Saudi destinations like Riyadh, Jeddah, AlUla, and the Red Sea. 

Al-Khateeb stressed the critical importance of developing air connectivity, revealing that airlines are working to double the number of flights to meet rapidly increasing demand.

The minister also emphasized the Kingdom鈥檚 unique assets, which range from diverse natural landscapes 鈥 mountains, islands, and the Red Sea coast 鈥 to rich historical and cultural destinations like Diriyah, all complemented by authentic Saudi hospitality.

This strategic focus is yielding significant results. The minister revealed that the Kingdom welcomed over 30 million tourists in 2024, and aims to reach 50 million international tourists by 2030. 

He reaffirmed that the sector鈥檚 geographical and cultural diversity, which allows visitors to experience a wide range of attractions across its cities, makes it one of the largest contributors to job creation in the Saudi economy.


Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽
Updated 29 October 2025

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

Saudi Local Content Authority targets 2k products on mandatory list in 2026聽

RIYADH: The Saudi Local Content and Government Procurement Authority plans to expand its mandatory list of national products to 2,000 items next year, up from about 1,500 currently, according to its CEO Abdulrahman Al-Samari. 

Speaking to , Al-Samari said the expansion will focus on key sectors such as pharmaceuticals, food, and machinery, and depends on the growth of local industrial capabilities and their ability to meet government demand. 

Established in 2019, the authority aims to raise local content in government procurement and projects from about 30 percent to nearly 50 percent, while expanding the number of products on the mandatory list from just 100 national products at inception to 1,500 today.  

The mandatory list requires government entities to prioritize procurement from suppliers using locally produced goods, thereby promoting domestic industries and supply chains. 

Al-Samari noted that the authority has recently signed its first agreement in the cybersecurity sector with the National Information Technology Co. to localize products such as firewalls and data-leak prevention systems, citing their strategic and security importance.  

He added that localizing these technologies will create added value for the national economy and generate high-quality job opportunities for Saudi citizens.  

The CEO also highlighted partnerships in the pharmaceutical, food, machinery, equipment, and vehicle sectors, noting that work is underway to develop national capabilities in automotive manufacturing.  

According to the authority鈥檚 second-quarter 2025 report, the mandatory list currently includes 1,444 national products across 16 sectors. 

Local content is defined as the total spending within 黑料社区 through the participation of national labor, goods, and services, aimed at maximizing domestic economic impact and keeping value creation within the Kingdom. 


Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽
Updated 29 October 2025

Riyadh Air putting sustainability up front as it scales: CEO聽

Riyadh Air putting sustainability up front as it scales: CEO聽

RIYADH: 黑料社区鈥檚 newest airline Riyadh Air intends to be a thought leader in environmental sustainability while growing its global reach, its CEO has said.

Speaking to Arab News on the sidelines of the ninth Future Investment Initiative conference in Riyadh, Tony Douglas said that while the industry鈥檚 net-zero goal is difficult, the airline will pursue both alternative fuels and near-term operational efficiencies.

This year鈥檚 FII conference is taking place in Riyadh from Oct. 27 to 30, and is being held under the theme 鈥淭he Key to Prosperity: Unlocking New Frontiers of Growth.鈥

Riyadh Air, a new Saudi national airline owned by the Public Investment Fund, began operations on Oct. 26 with the successful completion of its first passenger flight from King Khalid International Airport to London Heathrow.

Douglas said: 鈥淭he net鈥憐ero target that鈥檚 out there, given the physics of powered flight, is extremely difficult,鈥 adding: 鈥淏ut we鈥檙e absolutely committed to this going forward.鈥

Day to day, Riyadh Air will cut waste where it starts, with the CEO pointing to catering as an area to target. Legacy airlines uplift too much food, much of it thrown away. That鈥檚 waste and weight, which means more fuel burn and emissions, said Douglas.

To combat this, guests will be able to preorder meals in the concierge app. This trims waste and gives people exactly what they want. 

The brand rests on three pillars: obsessive guest experience, a digital鈥憂ative mindset, and leadership on environmental sustainability.

鈥淲e鈥檙e building a national carrier that connects the Kingdom to the world 鈥 and delights every guest along the way,鈥 Douglas said. For him, sustainability sits alongside service and tech, not behind them. A digital鈥慺irst approach drives personalization and efficiency 鈥 from meal preorders to smoother trip planning.

Operations began with a symbolic start. 鈥淲e鈥檒l never forget October 26,鈥 Douglas said, recalling the first commercial service. Daily flights to London Heathrow are live, with Dubai next as the network ramps.

Growth will be steady and visible. Completed Boeing aircraft are in certification, with more coming off and entering final assembly each month. The plan is roughly one new jet every month through next year, then two per month. That supports a goal of more than 100 international destinations within five years, setting up Riyadh as a serious global hub.

鈥淕lobal connectivity is an enabler,鈥 Douglas said. In his view, aviation runs across the Kingdom鈥檚 diversification pillars under Vision 2030. The impact is macro and human. The airline expects to support well over 200,000 jobs directly and indirectly as routes open markets, attract investors, and bring tourists.

Service remains the test. 鈥淚t鈥檚 not only what we do 鈥 it鈥檚 how we do it. We want people to be delighted by our service because the brand is real.鈥 

That ethos extends beyond the cabin. Riyadh Air is launching Sfeer, a lifestyle program rather than a traditional loyalty scheme. Members can pool and pass points with family and friends 鈥 even by tapping phones. The aim is simple: more use, less breakage.

Sustainability threads through these choices. Lighter loads, smarter provisioning, and better planning save fuel and cut emissions today, while the fuels partnership targets tomorrow. 

鈥淪olutions will come in all shapes and sizes,鈥 said Douglas. 鈥淲e intend to be out front.鈥

From a standing start to a fast鈥憇caling national carrier, the message is clear: grow with purpose. Add destinations each month. Ramp the fleet on schedule. Make sustainability part of the experience, not a bolt鈥憃n.

鈥淲e鈥檙e up and running 鈥 and we鈥檙e only getting started,鈥 he said.