عربي English Türkçe اردو فارسى
Logo
Latest News
Business

GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
TT
TT

GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo

The net inflow of foreign direct investment (FDI) in Saudi Arabia amounted to SAR 16 billion ($4.2 billion) during the third quarter of 2024, a decrease of 24% compared to the third quarter of 2023, the General Authority for Statistics (GASTAT) said.

FDI achieved a growth of 37% compared to the second quarter of 2024, which recorded SAR 11.7 billion ($3.1 billion), said statistical data published by GASTAT on Monday.

The volume of inflows amounted to about SAR 18 billion ($4.5 billion) during the third quarter of 2024, a decrease of 21% compared to the third quarter of 2023 which was approximately SAR 22.6 billion ($6 billion).

The volume of inflows recorded a decrease of 8% compared to the second quarter of 2024, which recorded SAR 19.4 billion ($5.1 billion).

The volume of outflows amounted to about SAR 2 billion during the third quarter of 2024, a growth of 27% compared to the third quarter of 2023, where the volume of outflows reached SAR 1.6 billion. While it recorded a decrease of 74% compared to the second quarter of 2024.

Most Viewed

 
 
Business

Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
TT
TT

Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices were little changed on Monday, while investors awaited a slew of US economic data including the December nonfarm payrolls report for further guidance on the Federal Reserve's stance on interest rates.
Spot gold held its ground at $2,635.39 per ounce by 0510 GMT. US gold futures dropped 0.2% to $2,646.80.
How the US jobs data fares this week could hold the key to whether gold breaks out of its recent range, said Tim Waterer, chief market analyst at KCM Trade.
"There is a plethora of US data due for release this week (including ISM Services PMI data), and any downside misses could hurt the USD and help gold."
The US jobs report, due on Friday, is expected to provide more clues to the Fed's rate outlook after the US central bank rattled markets last month by reducing its projected cuts for 2025.
Investors are also awaiting ADP hiring and job openings data, as well as minutes of the Fed's last policy meeting for further direction.
Gold flourishes in a low-interest-rate environment and serves as a hedge against geopolitical uncertainties and inflation.
US President-elect Donald Trump is set to return to office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
This could prompt the Fed to go slow on rate cuts, limiting gold's upside. After three rate cuts in 2024, the Fed has projected only two reductions for 2025 due to persistent inflation.
The US central bank's benchmark policy rate should stay restrictive until it is more certain that inflation is returning to its 2% target, Richmond Federal Reserve President Thomas Barkin said on Friday.
Spot silver was down 0.2% at $29.57 per ounce, platinum dipped 0.7% to $931.30 and palladium fell 0.4% to $918.22.