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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Saudi construction and manufacturing remain vibrant with deals up to $63 billion

              SG

              April 17, 2013
              in Infrastructure
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              The Saudi construction and manufacturing sectors will remain the key beneficiaries in 2013, growing at 10.5 percent and 8.5 percent, respectively, National Commercial Bank (NCB) said in its April “Saudi Economic Review”.

              “Our projections for the two sectors are supported by buoyant activity in the projects’ market and strong business confidence. During 2012, the value of awarded construction contracts remained above the SR200 billion threshold, registering SR235 billion, albeit falling short from the historical record of SR270 billion in 2011.”

              The awarded contracts in the manufacturing sector reached SR17.8 billion in 2012, the fourth largest share across all sectors, surpassed only by the oil, transportation and power sectors, with Ma’aden aluminum smelter awarding the highest contracts by value.

              Ostensibly, the role of the government is critical, the report said, whereby it signed approximately 3,117 capex-related contracts with the private sector valued at an estimated SR172.9 billion, according to the Ministry of Finance.

              However, the report expressed concern about the recently released report by the Saudi Control and Investigation Board (SCIB) that detailed 650 projects facing delays and that will need to be financed from excess surpluses of previous budgets.

              “We believe that the government’s adamancy in pursuing diversification have to be matched by strong supervisory structure that ensures execution within strict timeframes given the enormity of the projects whether in size or number,” it said.

              Accordingly, the recent decision by the Ministry of Transportation to withdraw a number of failed projects from contractors facing myriad challenges is a step in the right direction. Looking ahead, among the various sectors surveyed in NCB’s Business Optimism Index (BOI), construction, trade & hospitality, and manufacturing were the only sectors to register index values similar to or above the composite index for the non-hydrocarbon sector in 1Q 2013, standing at 63, 57 and 55 points, respectively, which indicates expectations of further expansion on the back of higher volume of sales and new orders.

              Optimism levels in the construction sector were the highest among all sectors, with 50 percent of the firms planning to invest in business expansion. Obviously, approving the mortgage law back in July have impacted sentiments positively and will continue to do so as SAMA finalizes the regulations on real estate financing and leasing along with the supervisory guidelines.

              The role of the Real Estate Development Fund (REDF) will also be important in propelling residential building construction by accelerating loans to the 537 thousand applicants currently on the waiting list and the additional 1.7 million electronic applications that are yet to be examined for eligibility.

              The REDF is apparently aware of the long-queue that will take more than 10 years to substantially reduce given the current capacity of the fund that can hand loans to just 40,000 applicants per year, thus, it is in the process of devising and implementing an expedited loan scheme with local banks that will allow applicants to avail the SR500,000 loan with REDF paying the interest. In our opinion, the momentum of awarded construction contracts coupled with expansionary business sentiment will ensue, thus, supporting both construction and manufacturing going forward.

              On the external trade front, the volume of Saudi non-oil exports fell by 7.7 percent Y/Y in January, amounting to 3,783 thousand tons, indicating a moderation following the surge witnessed in 2012. In value terms, however, revenues lessened by only 1.1 percent to register SR15.1 billion, indicating a good level of competitiveness for the kingdom’s exports. Although by a lower margin of 0.2 percent Y/Y, non-oil imports increased to 5,673 thousand tons accompanied with expenses rising by 10.2 percent compared to last year.

              By composition, petrochemicals continued to top revenue generators with 36 percent of exports consisting of this category which climbed sharply over plastics, making a 4.8 percent Y/Y upturn. Plastics, which make up 30.7 percent of non-oil exports, shrank by 5.5 percent annually. In contrast, base metals, the third largest category which makes 6.3 percent of exports revenue surged by a sizeable 19.6 percent, reflecting increasing demand.

              Foodstuffs, however, marked the highest annual decline of 12.1 percent.

              By destination, 14.9 percent of Saudi non-oil exports continued to be directed towards China in which improved manufacturing data reflected positively on demand for the kingdom’s exports, allocating SR2.2 billion, which grew by 9.1 percent over last year.

              Secondly, UAE which acquired 9.3 percent of non-oil exports traded a worth of SR1.4 billion, falling short of last years’ figures by 4.8 percent. The US, for the first time, became the third largest trading partner attracting SR1 billion worth of goods, which makes close to 7 percent of non-oil exports for this January, growing by a hefty 107 percent over last year.

              Saudi non-oil imports by composition show that machinery remains by far the largest import category in January, constituting 28.2 percent of all non-oil imports. It rose by 14.2 percent Y/Y, making SR14 billion.
              Following machinery is transport equipment, which make up 19.4 percent of imports.
              SG
              17 April

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