Economic news

The New Saudi Discovery: Sparking an Energy Storm with Astonishing Reserves of Natural Gas and Condensate

Saudi Aramco has discovered 150 trillion standard cubic feet of natural gas in the Jafurah oil field in the country. According to a news statement from the Ministry of Energy, the discovery also includes 2 billion barrels of condensate. The ministry, citing Saudi Energy Minister Abdulaziz bin Sal……

MORE

$3.2 billion! Saudi Jeddah Central Comprehensive Infrastructure Project Goes Live

The project originally named "New Jeddah Downtown" will be implemented in three phases, with the first phase expected to be completed by the end of 2027, the second phase by 2030, and the third phase after 2030. The Jeddah Central Development Company, established by the Public Investment Fund (PIF……

MORE

Non-oil activities in Saudi Arabia currently account for 50% of the Gross Domestic Product (GDP).

Non-oil activities in Saudi Arabia currently account for 50% of the Gross Domestic Product (GDP). According to the Ministry of Economy and Planning in Saudi Arabia, non-oil economic activities contributed 50% to the Gross Domestic Product in 2023, reaching the highest level in history. Driven by c……

MORE

2021 Ningbo Export Commodities Kurdistan Iraq Online Exhibition

2021 Ningbo Export Commodities Kurdistan Iraq Online Exhibition DATE: April TO JULY,2021 SUPPLIER AREA: NINGBO,CHINA ORGANIZER:  DEPARTMENT OF COMMERCE OF NINGBO PROVINCE KAC INTERNATIONAL EXHIBITION GROUP LIMITED ERBIL BRANCH OF UNION OF IRAQ KURDISTAN REGION IMPORTERS & EXPORTERS Due to the……

MORE

2021 Ningbo Export Commodities Saudi Arabia Online Exhibition

2021 Ningbo Export Commodities Saudi Arabia Online Exhibition DATE: APRIL TO JULY,2021 SUPPLIER AREA: NINGBO,CHINA ORGANIZER:  DEPARTMENT OF COMMERCE OF NINGBO PROVINCE                          KAC INTERNATIONAL EXHIBITION GROUP LIMITED                         MAKKAH CHAMBER OF SAUDI   Due to……

MORE

2021 Zhejiang Jinhua Export Commodities Iraq Online Exhibition

DATE: MARCH 2021 SUPPLIER AREA: JINHUA ZHEJIANG ORGANIZER: CHINA COUNCIL FOR THE PROMOTION OF LNTERNATIONAL TRADE JINHUA COMMITTEE                       ERBIL BRANCH OF UNION OF IRAQI KURDISTAN REGION IMPORTERS & EXPORTERS                       KAC INTERNATIONAL EXHIBITION GROUP LIMITED Due to……

MORE

China's Huawei opens first flagship store in Saudi Arabia

The Chinese tech giant Huawei on Saturday announced the inauguration of its first flagship store in Saudi Arabia, which is also its largest store in the Middle East and Africa. At the opening ceremony in the capital Riyadh, Sultan Mofti, deputy governor for Investment Attraction and Development at……

MORE

Saudi Arabia’s foreign exchange reserves rank third in G20 countries

The Economic News reported on June 26 that as of April this year, Saudi Arabia’s foreign exchange reserves were 505.1 billion US dollars, accounting for 6.2% of the world's total foreign exchange reserves, second only to China (310 billion) and Japan (130 billion), ranking third in the G20. Follow……

MORE

Remarks by H.E. Ambassador Li Huaxin for the 88th National Day of Saudi Arabia on Arab News

I returned to Saudi Arabia as ambassador of China in May 2016 after my first post here 13 years ago. During the last two years, I have visited the cities and countryside of this country and been deeply impressed by the progress and development made by the Saudi people under the leadership of King ……

MORE

The trade war started, we are still here!

  On March 23 this year, the United States announced "301 investigation results"; April 16 imposed sanctions on ZTE, prohibiting US companies from selling all products to ZTE; on July 17, Japan and the EU signed double "zero tariffs" as targets Trade agreement; July 26, the US-Europe negotia……

MORE