Stories from Riyadh · Saudi Arabia

Saudi Arabia's tourism sector is growing at a rate of 7.1%, significantly exceeding the global growth rate of 4.1%. Business tourism accounts for 55% of the kingdom's tourism sector.

The Small and Medium Enterprises General Authority (Monsha'at) launched Finance Week in collaboration with the SME Bank. The event runs from May 3 to May 7, 2026. Activities are held at enterprise support centers in Riyadh, Jeddah, Khobar, and Medina.

The final offering price for the IPO has been set at 9.70 riyals per share. The offering saw a coverage rate of 66 times the total shares. The individual subscription period is scheduled to begin on Sunday, May 10, and will last for five days.

Dar Al Majd Real Estate reported a decline in profits during the first quarter of this year. Profits reached 38,662,000 riyals, according to the report. This follows a decrease in sales volume for Al Moammar Information Systems. The company stated the decline resulted from increased spending on expansion rather than weak demand. Sales and distribution specifications rose by approximately 6.19% during the period. Strategic investments included opening new branches and launching a digital platform. The company is also updating operating systems and investing in distribution and logistics networks. Al Madina Cement reported profits of 30,178,000 Saudi riyals for the first quarter of the current year. This figure represents a decline in earnings for the company.

Fahad Al-Mufrej has requested a two-week period to decide whether to join the Saudi national team management. The decision depends on resolving his current commitments with Al-Hilal club before the World Cup.

A major technology company announced plans to reduce its workforce by approximately 10 percent to balance investments in artificial intelligence. The reduction could result in the layoff of about 8,000 employees.

The World Travel and Tourism Council released its 2025 economic impact report for the Middle East. The report states the total contribution of the travel and tourism sector to Saudi Arabia reached approximately $178 billion USD in 2025.

Saudi Arabia has acquired a 46% share of the total tourism economy in the Middle East.

The Metropolitan Opera has canceled its planned three-day residency in Riyadh, Saudi Arabia. The residency was intended to occur annually every February for eight years.

The number of fintech companies in Saudi Arabia has increased more than 14 times over a six-year period. In 2019, the country had only 20 fintech companies, according to a report discussed on Radio Riyadh.