Aramco Boss Will Keep Borrowing Even as Oil Slump Cuts Cashflow
The Saudi state oil producer needs funds to plug a gap in finances as declining free cash flow amid weaker crude prices fails to cover a massive dividend payment, even after it was reduced. That's boosted net debt to the highest in almost three years and driven up leverage ratios, but they still remain way below some of the other major oil companies.
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Saudi Arabia ICT Market Size, Shares, Trends and Growth Analysis 2025-2034 - The Largest and Most Rapidly Expanding Market in the Middle East and North Africa Region
Driven by government initiatives like Vision 2030, the sector, including 5G expansion and increased digital adoption, sees rapid growth, enhancing economic diversification Saudi Arabian ICT Market Dublin, Aug. 20, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia ICT Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)" report has been added to Saudi Arabia ICT market reached approximately USD 44.69 Billion in 2024. The market is projected to grow at a CAGR of 9.10% between 2025 and 2034, reaching a value of around USD 106.77 Billion by 2034. Saudi Arabia ICT Market Outlook As of March 2024, with a valuation of more than $40.9 billion and accounting for 4.1% of the GDP, the market stands as the largest and most rapidly expanding in the Middle East and North Africa region. In 2023, government spending on ICT in Saudi Arabia increased by 20% compared to the previous year, amounting to SR 41.87 billion ($11.16 billion). As per the Saudi Arabian Ministry of Commerce, between October to December 2023, issuance of cloud computing permits surged by 40% y-o-y, reaching 1,759. Saudi Arabia ICT Market GrowthThe telecommunications sector is the backbone of the Saudi Arabian economy, with a predicted CAGR of 3.92% until 2029. The Kingdom has the biggest telecom market in the Middle East and is expected to continue growing steadily. The Saudi Arabian government's strategic push and the increased demand for fast internet are driving this growth. Another notable trend in the market is the swift adoption of 5G technology, with multiple market participants investing in its expansion across the region. According to GSMA Intelligence data, 78% of Saudi Arabia's population has access to 5G coverage as of April 2022, up from 43% two years prior, leading to the expansion of the market in the ambitious programmes introduced by the government of Saudi Arabia are also supporting the market. For instance, 'Vision 2030' is reshaping the telecom sector in Saudi Arabia by aiming to reduce the country's dependence on oil and diversify its economy. This initiative recognises the crucial role of the telecom sector in enhancing quality of life and driving economic progress. It seeks to enhance competition, elevate service quality, and amplify the industry's GDP impact. Furthermore, the programme envisions leveraging the telecom sector as a catalyst for the digital evolution of various sectors, such as healthcare, education, and tourism, among others. Saudi Arabia ICT Market ShareBased on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. Over the forecast period of 2025-2034, the BFSI sector is assessed to grow at a CAGR of 9.4%. Information and Communication Technology (ICT) is crucial in the advancement and development of banking and financial operations. It is not only necessary for meeting customer needs but also for gaining a competitive edge. ICT enables bankers to offer a variety of services to customers in an efficient, cost-effective, convenient, compliant, and organised Companies in the Saudi Arabia ICT MarketMajor players are investing heavily in technological upgrades to gain a competitive edge in the market. IBM Corp. Microsoft Corp. Cisco Systems Inc. Inc. (Amazon Web Services, Inc.) Palo Alto Networks Inc. Accenture PLC Dell Inc. HP Inc. Trend Micro Inc. Saudi Telecom Company SJSC Others Key Attributes Report Attribute Details No. of Pages 130 Forecast Period 2025-2034 Estimated Market Value (USD) in 2025 $44.69 Billion Forecasted Market Value (USD) by 2034 $106.77 Billion Compound Annual Growth Rate 9.1% Regions Covered Saudi Arabia Key Topics Covered1 Executive Summary1.1 Market Size 2024-20251.2 Market Growth 2025(F)-2034(F)1.3 Key Demand Drivers1.4 Key Players and Competitive Structure1.5 Industry Best Practices1.6 Recent Trends and Developments1.7 Industry Outlook2 Market Overview and Stakeholder Insights2.1 Market Trends2.2 Key Verticals2.3 Key Regions2.4 Supplier Power2.5 Buyer Power2.6 Key Market Opportunities and Risks2.7 Key Initiatives by Stakeholders3 Economic Summary3.1 GDP Outlook3.2 GDP Per Capita Growth3.3 Inflation Trends3.4 Democracy Index3.5 Gross Public Debt Ratios3.6 Balance of Payment (BoP) Position3.7 Population Outlook3.8 Urbanisation Trends4 Country Risk Profiles4.1 Country Risk4.2 Business Climate5 Middle East and Africa ICT Market Overview5.1 Key Industry Highlights5.2 Middle East and Africa ICT Historical Market (2018-2024)5.3 Middle East and Africa ICT Market Forecast (2025-2034)6 Saudi Arabia ICT Market Overview6.1 Key Industry Highlights6.2 Saudi Arabia ICT Historical Market (2018-2024)6.3 Saudi Arabia ICT Market Forecast (2025-2034)7 Saudi Arabia ICT Market by Type7.1 Hardware7.1.1 Historical Trend (2018-2024)7.2 Software7.3 IT and Infrastructure Services7.4 Telecommunication Services 8 Saudi Arabia ICT Market by Enterprise Size8.1 Small and Medium Enterprises8.2 Large Enterprises 9 Saudi Arabia ICT Market by Industry Vertical9.1 BFSI9.2 IT and Telecom9.3 Government9.4 Retail and E-Commerce9.5 Manufacturing9.6 Energy and Utilities9.7 Others 10 Saudi Arabia ICT Market by Region10.1 Makkah10.2 Riyadh10.3 Madinah10.4 Qassim10.5 Eastern Province 11 Market Dynamics11.1 SWOT Analysis11.1.1 Strengths11.1.2 Weaknesses11.1.3 Opportunities11.1.4 Threats11.2 Porter's Five Forces Analysis11.2.1 Supplier's Power11.2.2 Buyer's Power11.2.3 Threat of New Entrants11.2.4 Degree of Rivalry11.2.5 Threat of Substitutes11.3 Key Indicators for Demand11.4 Key Indicators for Price12 Competitive Landscape12.1 Supplier Selection12.2 Key Global Players12.3 Key Regional Players12.4 Key Player Strategies12.5 Company Profiles12.5.1 IBM Corp.12.5.1.1 Company Overview12.5.1.2 Product Portfolio12.5.1.3 Demographic Reach and Achievements12.5.1.4 Certifications12.5.2 Microsoft Corp.12.5.3 Cisco Systems Inc.12.5.4 Inc. (Amazon Web Services, Inc.)12.5.5 Palo Alto Networks Inc.12.5.6 Accenture PLC12.5.7 Dell Inc.12.5.8 HP Inc.12.5.9 Trend Micro Inc.12.5.10 Saudi Telecom Company SJSC12.5.11 Others For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian ICT Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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Trump Embarks on $104 Million Bond-Buying Spree While in Office
(Bloomberg) -- President Donald Trump has bought hundreds of bonds since he returned to office, including those sold by US companies affected by the sweeping changes to federal policies he's championed. The 690 transactions, the first of which was made the day after his inauguration, total at least $103.7 million, according to a document released by the White House on Tuesday that disclosed the billionaire's investing activity this year through early August. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome In addition to municipal bonds issued by local governments, school boards, airport authorities and gas districts, Trump bought corporate debt in tranches of at least $500,000 each from Qualcomm Inc., Home Depot and T-Mobile US Inc. on Feb. 10. He also purchased at least $250,000 of debt from Facebook owner Meta Platforms Inc. later that month. The report, which all federal elected officials and appointees who trade must submit, doesn't provide exact amounts or prices, since only broad ranges of transactions involving stocks, bonds, commodity futures and other securities are required. Trump reported no sales. The investments provide another example of how the president, whose net worth is pegged at $6.4 billion by the Bloomberg Billionaires Index, continues to pursue wealth accumulation while in office. Unlike his predecessors, Trump didn't divest or move his assets into a blind trust with an independent overseer. His sprawling business empire is managed by two of his sons and operates in several areas that intersect with presidential policy. Trump has held meetings with leaders of businesses whose supply chains have been upended by his implementation of the highest tariffs in decades as well as technology industry executives. The White House didn't immediately respond to an emailed request for comment on the 33-page filing, which was dated Aug. 12 and provided to the Office of Government Ethics. In an earlier financial disclosure report spanning his activity in 2024, Trump listed hundreds of bonds held in personal investment accounts that are separate from his business empire. The latter encompasses properties like his Florida resort Mar-a-Lago, his stake in Trump Media & Technology Group Corp. and crypto ventures that have added at least $620 million to his fortune in recent months, according to the Bloomberg index. Under federal ethics law, presidents aren't required to divest assets that may pose conflicts of interest, but they have done so anyway. Trump is the first president to buck that since the law was passed in 1978. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Survived Bankruptcy. Next Up: Cultural Relevance? Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P.
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