Saudi Arabia's first-quarter GDP grows by 3.4 percent, beating flash estimates
Saudi Arabia's economy grew by more than expected in the first quarter of 2025, according to government data estimates, with lower oil prices impacting the economy less than previously forecast.
First-quarter GDP grew by 3.4 percent compared to the same quarter of the previous year, beating flash estimates of 2.7 percent released in May by the Saudi General Authority for Statistics.
Oil GDP shrank by 0.5 percent, while initial flash estimates had shown it contracting by 1.4 percent. Non-oil growth reached 4.9 percent compared to estimates last month pointing to a 4.2 percent increase.
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Arab News
2 hours ago
- Arab News
Baheej to open new wellness resort on Yanbu coastline
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Arab News
2 hours ago
- Arab News
ABB launches mentorship program for female employees
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Arab News
2 hours ago
- Arab News
Arab News honored in London on its 50th anniversary
LONDON: To mark the 50th anniversary of Arab News, the Global Arab Network hosted on Friday an event at the Frontline Club featuring a documentary preview and a panel discussion on the newspaper's digital transformation and the growing impact of artificial intelligence on the future of media. Welcoming guests, Ghassan Ibrahim, founder of the London-based Global Arab Network, commended Arab News, saying it has become 'one of the most trusted newspapers in the Middle East.' 'Global Arab Network works to help people from Arab countries and other parts of the world understand each other better. They support projects that connect cultures, support development, and share news and ideas,' he said. 'Their work is similar to what Arab News does — they both want to bring the East and West closer together.' In his address, Arab News Editor-in-Chief Faisal J. Abbas said: 'We thank the Global Arab Network for hosting this event and presenting the documentary. We hope that the attendees can benefit from the Arab News digital transformation success story as we all brace for an AI-led future' He added: 'For the past 50 years, Arab News has been at the forefront of technology when it comes to news gathering, verification, research and distribution. We vow to continue on this path, and our latest podcast, launched using Google NotebookLM, is a testimony to our commitment.' The Frontline Club event in London was attended by renowned dignitaries, diplomats and journalists including Saudi Editor Othman Al-Omair, Asharq Network's Nabeel Khatib and Al Majalla Editor in Chief, Ibrahim Hamidi. Members of parliament, lecturers from British universities and former ministers and ambassadors were also among the attendees. The event saw a preview of 'Rewriting Arab News,' a short film about the newspaper's relaunch and digital transformation between 2016 and 2018, which was presented by Global Arab Network. The event paid tribute to the brothers Hisham and Mohammed Ali Hafiz, who launched Arab News as Saudi Arabia's first English-language daily newspaper, from a small garage in their hometown, Jeddah, while depicting the publication's growth and milestones in the runup to it relaunch. The evening also discussed how Arab News is consistently launching new initiatives and projects as part of its preparations for an AI-driven future. 'In 2000, less than 7 percent of the world's population was connected to the internet; 25 years later, more than 60 percent of the world is connected to the internet,' Abbas said. 'We are at the brink of an AI revolution that is already happening, and the evolution of the news industry continues. We hope that Arab news can continue this challenge and thrive under this challenge.' Arab News was established in 1975 under the slogan, 'The Middle East's Leading English Language Daily,' to give Arabs a voice in English while documenting the major transformations taking place across the Middle East. In April 2018, Arab News changed its 43-year-old logo with a new one as well as its motto to 'The Voice of a Changing Region.' The newspaper relaunched with a new design and a new approach to stories that it believed was better suited to the internet age. 'Since 1975, Arab News has been the voice of the Arab world and the newspaper of record for Saudi Arabia and the wider region. As this region changes, and as the Arab world faces new challenges and new political, social and economic realities, so must that voice change. And so must Arab News,' the newspaper said in an editorial on April 4. Arab News is marking its 50th anniversary at a shifting moment, as Lebanon and Syria form new governments and the Middle East prepares for a high-level conference on the Palestinian two-state solution, co-chaired by Saudi Arabia and France, in New York this June. 'It's remarkable looking back at history to see the pattern of how history repeats itself, but sometimes it could be a happy ending,' said Abbas. A panel discussion after the screening of the documentary featured Chris Doyle, director of the Council for Arab-British Understanding (Caabu); Juan Senor, partner at Innovation Media Consulting Group; and Abbas. 'Like Arab News, tech giants Apple and Google also started in garages — there's something to be said about that,' Doyle said. He praised Arab News for consistently reinventing itself 'not just to keep up with the times, but to stay ahead of them.' In April, Arab News launched its 50th anniversary collection, highlighting key events that shaped the Middle East over the past five decades, alongside the newspaper's own evolution. As part of its digital transformation efforts and complementing the anniversary project, Arab News released a podcast series last month. Produced using Google's AI-powered research tool, NotebookLM, it features artificial hosts and AI-generated voices recounting pivotal moments that defined the region's recent history. Senor said: 'Arab News has consistently set the standard for English-language journalism in the region, offering clarity and credibility at a time when balanced narratives about the Middle East are more important than ever.' He added: 'Arab News has played a crucial role in elevating regional voices that were often overlooked or misrepresented in international discourse — it's journalism with purpose, not just headlines.' As part of the same series of initiatives marking its 50th anniversary, Arab News hosted a special reception and talk last month in collaboration with Google on the opening day of the Arab Media Summit in Dubai in the UAE. During the May 26 reception, Mona Al-Marri, director-general of Dubai Media Office, Government of Dubai, said: 'I hope that all media outlets in our region follow in the steps of Arab News, because this is when you set a good working model for the whole region. … Arab News is leading this transformation.' In a region where over 50 percent of the population is young, she added, 'we should all follow this model.' In his keynote speech at the event, Khalfan Belhoul, CEO of the Dubai Future Foundation, said: 'Let's all agree that how we create and consume media is changing dramatically. Look at the average attention span, which is eight seconds.' He said the disruptive power of AI — from disinformation to audience mistrust — makes the 'human touch' more vital than ever. 'AI may be the hero of the next media chapter, but self-critique, adaptability and editorial responsibility will define its success,' Belhoul said. Arab News, headquartered in Riyadh, has expanded its digital voice by establishing bureaus in London, Pakistan and Dubai, besides editions published in French and Japanese.
