Saudi economy can withstand pandemic — Finance Minister
Saudi economy can withstand pandemic — Finance Minister/node/1679901/business-economy
Saudi economy can withstand pandemic — Finance Minister
An aerial view shows a deserted highway due to the COVID-19 pandemic, on the first day of the Eid Al-Fitr feast marking the end of the Muslim holy month of Ramadan, in Riyadh on May 24, 2020. (AFP)
Saudi economy can withstand pandemic — Finance Minister
The minister lauds the Kingdom's handling of the coronavirus pandemic
Says Saudi Arabia recommended an injection of $7 trillion into the global economy to mitigate the effects of the contagion
Updated 25 May 2020
Arab News
JEDDAH: The Saudi economy can withstand the coronavirus crisis despite the need to cut spending, Finance Minister Mohammed Al-Jadaan said on Saturday.
“The Saudi economy is able to absorb the decline in revenues and to deal with the budget deficit,” he said, adding that the government “firmly addressed this crisis with all determination, while prioritizing the safety and health of its citizens and residents.”
Al-Jadaan said the government “also worked hard to provide people with their basic needs, secure the necessary resources for health care systems, financially and economically support those most affected by the pandemic, and re-prioritize spending under the current circumstances.”
He thanked the Saudi leadership for “its unlimited support, and for the urgent decisions taken by the government to deal with the coronavirus crisis, including the initiatives it had launched to protect the Kingdom’s economy and support the private sector, its enterprises, low-income individuals and investors.”
The Kingdom “also showed a great sense of responsibility and commitment by holding the extraordinary G20 Summit in the framework of its presidency of the group, and recommending an injection of $7 trillion into the global economy as part of the financial policies, economic measures and security schemes aimed at facing the social, economic and financial repercussions of the pandemic,” he said.
“Saudi Arabia called for the bridging of the funding gap, estimated at $8 billion, to discover and develop new diagnostic tools, treatments and vaccines, while also providing $500 million of the required amount.”
Al-Jadaan congratulated the Saudi leadership on the occasion of Eid, and asked God to bless the Kingdom, protect it from the pandemic, and maintain its security and stability.
How AI could end Saudi Arabia’s ‘infinite workday’
AI adoption is already demonstrating its potential to reshape work across the Kingdom.
Companies must ‘redesign workflows to cut through digital noise, unlock focus’
Updated 18 sec ago
Waad Hussain
ALKHOBAR: At 10 p.m. in Riyadh, a marketing executive checks her inbox one last time. She has already answered over 100 emails, managed a constant stream of Teams messages, and sat through five back-to-back meetings. By 6 a.m., she will be back online.
This “infinite workday” is becoming the norm. According to Microsoft’s latest Work Trend Index, nearly 30 percent of employees check email late at night, while 40 percent are online by early morning. The average Saudi worker now faces a flood of 117 emails and 153 Teams messages daily, with interruptions every two minutes — a pattern that has blurred the line between work and rest.
For Turki Badhris, president of Microsoft Arabia, this is precisely why organizations must move beyond basic digitization toward full transformation.
“AI is not a passing trend. It’s a generational shift that is redefining how work gets done, how decisions are made, and how value is created,” Badhris told Arab News. “The organizations that thrive will be those that are willing to reimagine, not just automate, how work works.”
Turki Badhris, president of Microsoft Arabia. (Supplied)
He calls this the “Frontier Firm mindset,” where companies redesign workflows to cut through digital noise and unlock focus, rather than simply adding new technology on top of old processes.
Human resources professionals are seeing the human cost of this always-on culture firsthand.
“With digital transformation under Vision 2030 and the shift to flexible work models after the pandemic, it’s becoming harder for people to switch off,” said Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia.
“Over time, that takes a real toll on the employee and induces burnout, stress, and lower engagement,” she said.
To address this, Alalaiwi completed Mental Health First Aid training, an initiative her company encouraged.
“It gave me the tools to spot early signs of struggle and respond in a way that actually helps,” she added. “That’s why I believe HR has to go beyond policies. We need to actively create cultures where well-being and performance reinforce each other.”
AI adoption is already demonstrating its potential to reshape work across the Kingdom. At Obeikan Investment Group, the O3ai platform — built on Azure OpenAI and IoT — analyzes production data in real time, boosting operational efficiency by 30 percent and cutting costs by a similar margin across 20 factories.
Aminah Alalaiwi, assistant manager HR Business Partner at Bupa Arabia. (Supplied)
At Ma’aden, Microsoft Copilot and Azure OpenAI are used to summarize policies, draft documents, and automate governance workflows, saving employees more than 2,200 hours every month. At Sanabil Investments, structured adoption of Copilot led to 70 percent employee uptake in just two months, cutting content creation time by 50 percent.
Badhris emphasizes that Microsoft’s role is to help companies go beyond merely deploying tools.
“We work hand-in-hand with leaders to align technology adoption with business priorities, governance frameworks, and change management strategies,” he said. “Our approach is about co-creating roadmaps for responsible innovation.”
To support this transformation, Microsoft is investing heavily in local infrastructure. Its new cloud datacenter region in Saudi Arabia will provide enterprise-grade services with low-latency access and full compliance with data residency requirements, enabling organizations to scale AI securely.
DID YOU KNOW?
• Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025.
• The initiative has been launched in partnership with the Ministry of Communications and Information Technology and SDAIA Academy.
• AI adoption is already demonstrating its potential to reshape work across the Kingdom.
But as Alalaiwi warns, even the best tools can backfire without clear boundaries.
“AI can automate repetitive tasks, prioritize communications, and support smarter scheduling, reducing stress and allowing employees to disconnect after hours,” she said. “However, without clear policies, these same tools can generate more notifications, blur boundaries, and increase the expectation of being ‘always available.’”
Skilling remains a cornerstone of this shift. Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. Programs like the Microsoft AI Academy and the Center of Excellence for AI and Cloud Computing aim to prepare Saudi talent with globally recognized certifications and hands-on skills.
Microsoft Arabia has committed to training 100,000 Saudi nationals in AI skills by 2025, in partnership with the Ministry of Communications and Information Technology and SDAIA Academy. (Supplied)
Badhris advises business leaders to act now rather than wait for a perfect plan.
“Start small but start now,” he said. “Identify where AI can cut through the noise, reduce repetitive tasks, and unlock focus. These quick wins often become the catalyst for deeper cultural change.”
As Saudi Arabia accelerates toward Vision 2030, the pressure to transform digitally is rising. But Badhris believes the real competitive edge in the AI era will come not from being the busiest, but from being the smartest—and the most human.
“We can let work spill endlessly into our evenings,” he said, “or we can reclaim time for the things that matter.”
Saudi port exports rise 9.3% as total cargo hits 334.5m tonnes
Updated 18 September 2025
Nadin Hassan
RIYADH: Saudi Arabia’s ports saw robust growth in 2024, with exports climbing 9.3 percent to 222.4 million tonnes, pushing total cargo volumes to 334.5 million tonnes and reinforcing the Kingdom’s expanding role in global trade.
Data from the General Authority for Statistics showed that King Fahad Industrial Port in Yanbu led in exports, handling 114 million tonnes — or 51 percent of the total. Imports also rose 3.6 percent to 108.9 million tonnes last year.
The surge in cargo aligns with Saudi Arabia’s National Transport and Logistics Strategy under Vision 2030, which seeks to position the Kingdom as a global logistics hub connecting Asia, Europe, and Africa.
GASTAT’s report highlighted container activity, noting that more than 2.5 million inbound and outbound containers were handled in 2024, including 1.3 million outbound and over 1.2 million inbound units. Of these, 20-foot containers exceeded 1.3 million, while 40-foot containers surpassed 1.1 million, alongside roughly 1,400 containers of other sizes.
In terms of port throughput, Yanbu led with 39.8 percent, followed by King Fahad Industrial Port in Jubail at 19 percent. King Abdulaziz Port in Dammam accounted for 15.5 percent, Jeddah Islamic Port handled 14.1 percent, and the remaining 11.6 percent was distributed among other ports nationwide.
King Abdulaziz Port in Dammam also received the largest share of imports, totaling 38 million tonnes (35 percent of inbound cargo), while Yanbu dominated exports with 114 million tonnes (51 percent of outbound shipments).
Liquid bulk cargo topped all categories, exceeding 177 million tonnes, underscoring the continued importance of oil and petrochemical trade. Transshipment cargo surpassed 21 million tonnes, including nearly 11 million tonnes loaded and 10.4 million tonnes unloaded — equivalent to around 2 million standard containers.
Vessel traffic remained strong, with 8,693 ships docking at Saudi ports. Jeddah Islamic Port received the highest volume at 3,805 vessels, followed by King Abdulaziz Port with 1,980, Neom Port with 951, and Yanbu with 554.
Passenger traffic, however, fell 19.6 percent from 2023, totaling 912,800 travelers. Jazan Port recorded the highest passenger activity at over 485,000, followed by Jeddah Islamic Port with 217,600 and Neom Port with 205,100.
Compiled using data from the Saudi Ports Authority and related entities, the annual maritime report provides valuable insights into the flow of goods, passengers, and vessels, offering a foundation for future transport sector planning and development.
Closing Bell: Saudi main index rises to close at 10,780
Updated 18 September 2025
Reem Walid
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 130.30 points, or 1.22 percent, to close at 10,780.69.
Total trading turnover of the benchmark index reached SR16.4 billion ($4.3 billion), with 191 stocks advancing and 58 retreating.
The Kingdom’s parallel market, Nomu, also climbed, adding 167.71 points, or 0.67 percent, to close at 25,290.92, as 38 stocks gained while 42 declined.
The MSCI Tadawul Index advanced 15.37 points, or 1.11 percent, to close at 1,398.79.
The day’s top performer was MBC Group Co., whose shares surged 9.97 percent to SR32.20. Other strong gainers included Electrical Industries Co., up 9.90 percent to SR9.99, and Dar Al Majed Real Estate Co., which rose 7.62 percent to SR13.14.
On the downside, Saudi Public Transport Co. posted the steepest decline, falling 4.46 percent to SR12.42. Musharaka REIT Fund slipped 3 percent to SR4.20, while Alandalus Property Co. dropped 2.62 percent to SR18.60.
In corporate developments, Al Kathiri Holding Co. announced that its subsidiary, ALIAN Industry Co., signed a memorandum of understanding with the Rwanda Housing Authority to develop 10,000 affordable housing units.
According to a Tadawul statement, this MoU aligns with Al Kathiri Holding’s strategy to grow its presence in international markets and introduce modern construction technologies globally, supporting Saudi Vision 2030’s goal of promoting national exports.
Al Kathiri Holding Co. ended the session at SR2.09, up 0.48 percent.
Separately, Saudi Arabian Oil Co., Aramco, completed a $3 billion sukuk issuance, comprising 15,000 trust certificates with a par value of $200,000 each. The issuance offers a return of 4.125 percent for five-year certificates and 4.625 percent for 10-year certificates.
Aramco shares closed at SR24.47, up 1.54 percent.
Meanwhile, First Avenue for Real Estate Development said the White Land Fees program will have no impact on its Riyadh City portfolio, which consists entirely of income-generating projects and developments under construction with issued building permits. The company emphasized it does not own any undeveloped or “white” land.
Shares of First Avenue closed at SR8, up 3.71 percent.
Saudi Arabia’s Al-Baha region unveils industrial projects worth $24m
Updated 18 September 2025
MOHAMMED AL-KINANI
JEDDAH: Saudi Arabia’s Al-Baha region has unveiled SR89 million ($24 million) in industrial projects aimed at attracting investment, creating jobs, and developing its mining and small and medium enterprises sectors.
Prince Hussam bin Saud bin Abdulaziz, governor of the southwestern region, inaugurated several infrastructure and utility projects at the First Industrial City in Al-Baha, part of efforts to strengthen the local industrial and investment environment.
The launch was attended by Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef, who also chairs the Saudi Authority for Industrial Cities and Technology Zones, known as MODON, along with its CEO Majed bin Raed Al-Argoubi, according to a statement.
Al-Baha holds significant untapped mineral wealth, which Saudi Arabia aims to explore as mining emerges as a key driver of economic diversification under Vision 2030.
The Ministry of Industry and Mineral Resources recently highlighted the region’s deposits of precious and base metals — including gold, silver, copper, zinc, and lead — alongside industrial rocks and ornamental stones such as feldspar, marble, and pozzolan, estimating the value of these resources at SR285.4 billion.
The newly launched projects include integrated service and logistics facilities in the industrial city, which “will help attract more quality investments, in line with Saudi Vision 2030 objectives to support regional development and empower the industrial sector,” the statement said.
Multiple memorandums of understanding were also signed to promote investment, develop national competencies, and strengthen cooperation with academic and professional institutions, including the Technical and Vocational Training Corp. and Al-Baha University.
“The agreements aim to enhance collaboration in training, exchanging experiences, qualifying graduates for employment in the industrial sector, and supporting small and medium enterprises through joint programs that contribute to both investment and industrial efficiency in the region,” the statement added.
Prince Hussam said the projects underscore the Kingdom’s commitment to advancing the sector, attracting investment, creating youth employment, and boosting SMEs through collaboration with universities and educational institutions.
Alkhorayef stressed that the industrial and mining sectors are vital for Vision 2030, contributing significantly to economic diversification.
“He explained that the ministry seeks to extend its initiatives to all regions of the Kingdom, including Al-Baha, by enabling the local industrial environment and promoting unique industries that will enhance the region’s economic role,” the statement said.
The ministry is collaborating with major companies on exploration, creating investment opportunities in mining and downstream industries, and encouraging investors to seize these prospects.
By July, the region had granted 39 mining licenses, representing total investments of SR117 million.
Al-Baha’s industrial base comprises 49 factories: 34 in building materials, nine in food production, five in plastics and rubber, with the remainder in chemicals, metals, and other sectors, according to ministry spokesperson Jarrah Al-Jarrah.
JEDDAH: Saudi energy giant Aramco has raised $3 billion through a dual-tranche sukuk issuance, highlighting strong global investor confidence and reinforcing the Kingdom’s standing in international Islamic finance.
Priced on Sept. 10, the securities were listed on the London Stock Exchange, the company said. Proceeds will be used for general corporate purposes, supporting Aramco’s strategy to maintain financial flexibility and operational efficiency.
The new sukuk tranches comprise $1.5 billion maturing in 2030 with a profit rate of 4.125 percent per annum, and $1.5 billion maturing in 2035 at 4.625 percent per annum.
The issuance follows a similar $3 billion two-tranche sukuk in October, which was six times oversubscribed. That sale included a $1.5 billion tranche maturing in 2029 at 4.25 percent and another $1.5 billion tranche due in 2034 at 4.75 percent.
Ziad Al-Murshed, Aramco executive vice president of finance and CFO, said: “We believe this successful issuance reflects the confidence of global investors in Aramco’s exceptional financial resilience and robust balance sheet, as we continue to optimize our capital structure.”
He added: “Our ability to price the offering with a negative new issue premium across both tranches demonstrates Aramco’s unique credit proposition and standing within international capital markets.”
According to the company’s press release, the offering attracted robust demand from top-tier institutional investors.
