The kingdom is turning to the debt market to find alternative funding sources to cover an anticipated fiscal shortfall of about $21bn this year
The Afiyah Fund raised the money from a group of Saudi Arabian, GCC and European investors, led by Jada Fund of Funds
The superyacht has been described as a sportfisher on steroids with a long flaring bow of a typical American sportfish boat
Neo Space Group will invest in local and international assets and capabilities, as well as venture capital opportunities
While the dates are tentatively set, final confirmation will come from the official moon sighting committee in Saudi Arabia
The energy firm expects to pay $31bn in dividends, despite reporting lower earnings for the first quarter
The groundbreaking follows on the heels of DP World opening freight forwarding offices in Dammam, Jeddah and Riyadh
The Power Purchase Agreement (PPA) covers two projects, which will contribute 1.1 GW of renewable energy to the national grid
The layoffs at Lucid will impact employees at all levels, including leadership and mid-level management,
The change in rating reflects increased predictability of policies and decision-making processes
Shell announced a plan to divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses
Saudi Arabia‘s deadline for foreign firms to establish their regional headquarters in the kingdom went into effect earlier this year
COMAC’s planes fly almost exclusively within China and with one Indonesian airline, but the planemaker is looking to expand elsewhere
Airalo, a leading eSIM marketplace, reveals its expansion plans as global travel surges
The kingdom’s growing mining industry is a key pillar in Crown Prince Mohammed Bin Salman’s Vision 2030 programme to diversify the economy away from oil dependency
Tosyali is pursuing investment opportunities in Europe and the Americas as it aims to become one of the world’s top 30 iron and steel producers
The company priced its IPO at the top of the previously announced range, selling its shares at SAR37 per share apiece to raise SAR841m
Saudi Arabia’s AI authority will train its “ALLaM” Arabic language model using Watsonx, adding new language skills to the firm’s offerings
Saudi Arabia and Japan signed over 30 memorandums of understanding during the bilateral talks between the Crown Prince and Japanese PM
The state-owned group said Saudia would be receiving 54 of the A321neo jets, while flyadeal would acquire 12 A320neos and the remaining A321neos
Crude exports from the world’s largest oil exporter increased 1.5 per cent to 6.413 million barrels per day in March
W Riyadh is expected to feature 210 luxury guest rooms and suites, seven restaurants, retail space, and expansive event and meeting facilities
Despite the volatility in the region, oil prices moved only slightly
Earlier on Sunday, King Salman underwent medical tests at the royal clinics at Al Salam Palace due to high temperature and joint pain
The investment aims to bolster Saudi Arabia’s burgeoning technology ecosystem and support high-growth companies across key sectors
Saudi Manpower Solutions Company (SMASCO) has determined the final offer price at SAR 7.5 per share for its IPO
The flagship vessel of Aroya Cruises is an impressive 335-metre floating resort
PIF saw its US-traded stock holdings plummet from $35bn at the end of 2023 to $18bn by March 31
The strategy will see the company increase the number of its 5G network sites in the country to more than 7,000
CBRE has expanded its offerings as well as operations as the GCC sees a real estate boom backed by economic versatility and government investment programmes