Saudi aviation authorities have temporarily suspended operations at King Khalid International Airport in Riyadh after a ballistic missile and drone attack claimed by the Iran-aligned Houthi movement. The strike reportedly killed 12 people and injured more than 300, prompting condemnation from the United States, European allies and regional governments.
Saudi Arabia Targets $64 Billion in Private Infrastructure Investment by 2030
Saudi Arabia is accelerating private sector participation in transport, energy, water and digital infrastructure through its National Infrastructure Fund and privatization strategy. The government is targeting $64 billion in private infrastructure investment by 2030, while domestic banks continue to finance approximately 60% of construction spending.
Saudi Consumer Spending Jumps 23% to $4.4 Billion as Education Purchases Rise
Weekly consumer spending in Saudi Arabia has increased 23% to $4.4 billion, according to data released by Saudi authorities. Seasonal education-related purchases were a major driver of the increase, alongside strong retail activity across the Kingdom's main urban centers.
Riyadh Investment and Technology Conferences to Proceed Despite Heightened Security
Organizers of major international business and technology conferences in Riyadh have confirmed that upcoming events will proceed as scheduled following security assessments with Saudi authorities. The decision comes amid heightened security measures after attacks on the capital's airport and other infrastructure.
Saudi Arabia's Jeddah Tower Reaches 116 Floors as Developers Target Late 2028 Completion
Construction of Jeddah Tower on Saudi Arabia's Red Sea coast has reached 116 floors, according to project development updates. Contractors are continuing structural work on the landmark skyscraper, with completion currently targeted for late 2028.