Saudi Tourism Minister Ahmed Al-Khateeb said the sector aims to double its contribution to the kingdom's GDP from SAR300 billion ($80 billion) to SAR600 billion ($160 billion), while continuing to create jobs as the private sector recruits national talent.
Lockheed Martin and Saudi-based technology leader Pioneers Technical Systems Co (PTS) have announced a strategic partnership to establish the Saudi Arabia’s inaugural PAC-3 ground depot. The facility will provide testing, repair and certification of PAC-3 launcher components for the Royal Saudi Air Defense Forces’ PATRIOT missile defence system.
Saudi Arabian Military Industries (SAMI) Group launched several new key units at the World Defense Show, which opened in Riyadh on Monday.
Saudi Arabia's National Water Company (NWC) has announced that it has completed work on two water and wastewater projects in the Qassim Region. Additionally, NWC has also installed sewage networks and lines in Al Rass Governorate, totaling more than 40km area.
Indian infrastructure group Ashoka Buildcon said its joint venture with Saudi-based BEC Arabia Contracting has secured the main construction works contract for a hotel project within Saudi Arabia's giga development - Diriyah, The City of Earth, coming up near Riyadh.
The 2026 sovereign credit outlook for the Middle East region is stable thanks to the continued economic and credit resilience despite elevated geopolitical tensions and lower oil prices, said a S&P report, adding that the average regional growth is set to accelerate slightly to about 3.5%.
flynas, a low-cost airline in the Middle East, announced its plan to launch of a new air route to Rabat soon. flynas hosted a gala dinner in the Moroccan capital, Rabat, to mark three years of operating direct flights between Saudi Arabia and Morocco. Over the past three years, flynas has transported more than 300,000 passengers between the two kingdoms.
More than 200 Russian companies are expected to take part in the upcoming international industrial trade fair “Innoprom Saudi Arabia”, set to take place at Riyadh’s The Arena Venue from February 8 to 10.
Saudi Arabia and Türkiye signed a renewable energy agreement to strengthen cooperation. It covers solar power projects in Türkiye totaling up to 5,000 MW in two phases, supporting energy diversification, security, and low-carbon transition, with $2 billion in investments supplying electricity to two million households.
Saudi Arabia’s non-oil economy is entering a new phase. After a decade of rapid expansion driven by reform and public investment, future growth is expected to be shaped less by scale and more by competitiveness, productivity and export capability.
