Nirmal Narayanan

RIYADH: Insurance companies operating in Saudi Arabia reported mixed earnings in the first quarter, with Gulf Insurance Group and The Co. for Cooperative Insurance posting net profits, while several others recorded declines in net income or incurred losses. In a statement to Tadawul, GIG said its net profit for the first quarter of this year stood at SR43.74 million ($11.66 million), representing a 61.44 percent increase compared to the same period in 2025.

RIYADH: Shatirah House Restaurant Co., popularly known as Burgerizzr, has reported a 201.79 percent profit increase in the first quarter of 2026, signaling strong growth of the food sector in the Kingdom. In a bourse filing, the company attributed this rise in profits to SR5.72 million ($1.52 million) to contributions from newly opened branches, in addition to higher same-store sales for the brand. Burgerizzr said it was also driven by the consolidation of revenue from the newly acquired brand, Coffee Bean Trading Co., following the completion of the acquisition in the fourth quarter of 2025.

RIYADH: Saudi Arabia has proposed cutting the minimum capital requirement for securities businesses by 60 percent to SR20 million ($5.33 million), as part of broader reforms aimed at easing market entry and modernizing regulations. The proposed amendments, released by the Capital Market Authority for public consultation, would also introduce differentiated capital requirements for securities dealing activities based on their risk profile, while tightening technology governance and compliance standards.

RIYADH: Saudi Arabia is uniquely positioned to become a technology powerhouse in the Middle East, with the Kingdom already having a comprehensive and structured ecosystem to drive growth in advanced sectors such as artificial intelligence, experts told Arab News. The comments come against the backdrop of the Saudi cabinet’s decision in March to declare 2026 the Year of AI, underscoring the Kingdom’s accelerating technological transformation and positioning it as a key lever for economic diversification.

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.