Saudi non-oil revenues surge 48% amid diversification drive

A tourist visits the Khuraiba archaeological site near Saudi Arabia’s northwestern town of Al-Ula. (AFP)
Updated 26 October 2018
Follow

Saudi non-oil revenues surge 48% amid diversification drive

RIYADH: Saudi Arabia’s third-quarter non-oil revenue surged by almost half according to the Kingdom’s finance minister.

Mohammed Al-Jadaan told the Future Investment Initiative (FII) in Riyadh that non-oil revenues grew by 48 percent, to SR211 billion ($56.25 billion), compared to a year earlier.

The Kingdom generated non-oil revenues of SR89.4 billion in the second quarter, up 42 percent year on year.

Government spending in the third quarter increased by about 25 percent, he said.

Saudi Arabia’s government expects to run a budget deficit of SR128 billion next year Jadaan said last month.

Jadaan was speaking on the final day of the FII event where global business leaders have gathered this week.

Deals signed at the event have topped $56 billion, Saudi Energy Minister Khalid Al-Falih said on Thursday.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
Follow

Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.