The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort
Aramco chief executive Amin Nasser said he expected oil demand to increase to 104 million bpd this year and to 105 million bpd in 2025
Fresh poultry sales, the key contributor to FY 2023 profits, rose 18 per cent to SAR1.73bn over the previous year
The level of spare capacity – or the perception of how much is available – can influence world oil prices.
The government has lined up Citigroup, Goldman Sachs and HSBC for the sale, which could take place in the second or third quarter of this year
The contracts cover a wide range of defence technologies and initiatives, with a focus on enhancing military equipment and infrastructure
Non-OPEC output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned
With its untouched seafront location, Xaynor will offer club members an opportunity to escape the hustle and bustle of city life, and recharge in a secluded, exclusive environment
The kingdom aims to attract 150 million tourists by 2030, with 80 million domestic and 70 million international tourists
In addition to its rooms and suites, Jumeirah Jabal Omar Makkah hosts 88 residences, which sit across the podium of its four towers
Savola’s board has approved the rights issue and the distribution of Almarai shares
New airline, Riyadh Air, is bulking up its use of enterprise software as the company looks to push a digital first strategy
The company appointed HSBC as the sole financial adviser, global coordinator and lead manager on the deal and Emirates NBD Capital as joint book runner and underwriter
The new office presents an opportunity for the company to explore new partnerships and investments
The Jeddah Central Development Company is a Public Investment Fund (PIF)-owned developer, mandated with redeveloping Saudi Arabia’s historic city
Midha, a seasoned business leader with experience across Asia, the US, India, and Singapore, joins Alat from Dell Technologies
Saudi Arabia has emerged as the largest insurance market in the GCC surpassing the UAE
US Secretary of State Antony Blinken is in the region to discuss a ceasefire offer between Israel and Hamas
The projects being developed under NEOM offer a glimpse of what futuristic developments could look like in Saudi Arabia
The venture, which may amalgamate new and existing races, is being led by a handful of teams including Visma-Lease a Bike and billionaire businessman Jim Ratcliffe’s Ineos Grenadiers
While the situation remains volatile and subject to change, the newly-released data is best indication of where the market is headed
OPEC said its “committee will continue to monitor” countries’ conformity with output decisions
The kingdom of Saudi Arabia is said to be still considering an invitation to join the expanding economic bloc
Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea
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Dubai lives up to its reputation as the ‘City of Gold’, hosting 72,500 millionaires, 212 of whom are centi-millionaires and 15 billionaires
The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter
Despite global dealmaking challenges in 2023 the Middle East will continue to be a global bright spot for transactions in the year ahead
Off-plan sales can also stimulate and grow the banking sector to create financial solutions that could cater to different beneficiary segments, grow the real estate brokerage market, and stimulate multiple purchases from investors
A man overseeing the kingdom’s main pre-Islamic heritage sites at AlUla has been arrested on corruption charges