Nirmal Narayanan

RIYADH: Saudi Arabia is emerging as the Middle East’s leading force in electric vehicle adoption and manufacturing as governments across the region accelerate efforts to cut oil dependence, strengthen energy security and build domestic clean-tech industries. According to a report released by the International Energy Agency, EV sales in the Middle East surged to around 75,000 units in 2025, marking a 40 percent year-on-year rise, underscoring the region’s accelerating pivot toward sustainable mobility, even as geopolitical tensions fuel a broader energy crisis.

RIYADH: The Middle East is accelerating hotel development, ending the first quarter of 2026 with a record pipeline of 717 projects totaling 177,110 rooms, up 12 percent from a year earlier. The figures were contained in a report from Lodging Econometrics, and emphasizes how, driven by ambitious national development plans, mega-projects and major events, countries across the region are seeking to establish tourism as a key driver of growth beyond oil. The region had 335 hotels with 84,438 rooms under construction at the end of the first quarter.

RIYADH: The liquidity levels of most Fitch-rated sukuk are improving, signaling a gradual stabilization in the Islamic bond market following disruptions caused by the Iran war, according to the credit rating agency. In its latest report, Fitch Ratings warned that sukuk liquidity has not recovered to pre-Iran war levels in most instances and is likely to remain constrained as long as the conflict persists. Fitch-rated investment-grade sukuk remains more liquid however, with an average liquidity quantitative assessment score of 66 as of June 9, up from 64 in March and compared to 72 in January.

RIYADH: Saudi Arabia has an opportunity to turn retirement savings into a new source of long-term capital that could deepen financial markets and support economic diversification, according to a report by BlackRock. The world’s largest asset manager said expanding funded retirement schemes could help channel household savings into productive investments while improving retirement outcomes, supporting the Kingdom’s broader Vision 2030 agenda. The findings come as Saudi Arabia pushes ahead with pension reforms aimed at strengthening the long-term sustainability of its retirement system.

RIYADH: Saudi Arabia has called on global investors and developers to come and explore tourism and hospitality projects in the Kingdom, as the current window of competitive advantage will not remain open indefinitely.

RIYADH: Saudi women are driving one of the most striking transformations in the Kingdom’s modern history, with female labor force participation surging from around 23 percent in 2016 to over 34 percent today, and women now owning nearly 45 percent of small and medium-sized enterprises, experts told Arab News.

RIYADH: Large-scale concerts, scintillating theme parks, and a booming cinema industry are no longer novelties in Saudi Arabia, with them becoming powerful engines of economic diversification under Vision 2030, according to industry experts. Guided by the ambitious program, Saudi Arabia is affirming itself as a regional hub in the entertainment industry, attracting tourists from all over the world.

RIYADH: Reforms across logistics, governance and business environment could see trade more than double between the Gulf Cooperation Council and the Caucasus and Central Asia regions. A report published by the International Monetary Fund, and supported by experts speaking to Arab News, set out that while while current trade and investment flows between the two regions remain limited, there are major complementarities in energy, capital, and diversification strategies. Substantial gains in trade, foreign direct investment, and resilience amid global fragmentation could be unlocked by reforms.

RIYADH: Saudi Arabia’s largest lenders, including Saudi National Bank, Al Rajhi Bank and Riyad Bank, reported higher first-half earnings in 2026, driven by robust lending growth, resilient operating income and improving liquidity, bourse filings showed. SNB, the Kingdom’s largest bank, posted a net profit of SR13.02 billion ($3.47 billion) in the first half of 2026, up 7.15 percent from the same period a year earlier.

https://arab.news/nf5eh RIYADH: Uber Technologies' planned takeover of Delivery Hero is set to reshape Saudi Arabia's booming food delivery