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Gulf Business gears up for debut Saudi summit on 3 September

The discussions will cover key themes relevant to any business aiming to operate or expand within Saudi Arabia

Saudi Arabia’s PIF secures $5bn loan covered by K-SURE

Saudi Arabia’s PIF secures $5bn loan covered by K-SURE

The deal is the first export credit agency financing by the sovereign fund and will help finance exports from Korea to Saudi Arabia

Heathrow airport road sign

Saudi’s PIF to pick up 10% stake in London’s Heathrow airport

The transaction is subject to regulatory conditions and must comply with the right of first offer

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

OPEC+ talks: Oil inches higher as Black Sea storm disrupts supply

OPEC+ is due to hold an online ministerial meeting to discuss 2024 production targets

ENVI Lodges reveals ENVI Al Sifah in Oman (Image: Supplied by ENVI Lodges)

ENVI Lodges announces second resort in Oman

ENVI Al Sifah will open in late 2025 and will feature 40 luxury tents

Flynas becomes first Saudi carrier to join UNWTO (Image: Supplied by flynas)

Flynas becomes first Saudi carrier to join UNWTO

UNWTO’s members include more than 500 companies, educational and research institutions, and NGOs

SEVEN Abha unveiled in Aseer Image supplied

Saudi’s SEVEN unveils SAR1.3bn entertainment destination in Aseer

The entertainment destination is centrally located between the cities of Abha and Khamis Mushait, and will be developed with an investment of over SAR1.3bn

oil price

Why OPEC+ members find it hard to agree on oil production quotas

Oil production tends to vary month by month, making it difficult to fix on a permanent production target

saudi arabia

Saudi Arabia trade surplus grows to $12bn — GASTAT

The trade surplus in Saudi Arabia remains stable amid continued levels of strong trade in the country

Saudi Arabia’s CMA proposes rules to boost secondary share offerings

Saudi Arabia’s CMA proposes rules to boost secondary share offerings

The market regulator invited participants in the capital market as well as relevant and interested persons to participate in a 30-day public consultation

PIF-owned SRC successfully wraps up SAR3.5bn sukuk GettyImages

Saudi Real Estate Refinance Company wraps up SAR3.5bn sukuk issuance

The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme

IHG signs two properties in Saudi Arabia’s Taif (Image: Supplied by IHG Hotels and Resorts)

IHG signs two properties in Saudi Arabia’s Taif

Holiday Inn and Suites Taif and Staybridge Suites Taif will both open in 2025

Saudi Arabia introduces new airline compensation rules in Nov 2023

Saudi Arabia: New airline compensation rules come into effect

Compensation provisions for flight delays, cancellations, overbooking and unexpected stopovers have been bolstered and extended

MBC GROUP to float IPO on Tadawul Image MBC group

MBC Group IPO: Saudi media giant plans to list on Tadawul

On Tuesday, November 21, the kingdom’s Capital Market Authority approved the company’s application for registering 10 per cent of its share capital

Riyadh Season

Riyadh Season attracts 2 million visitors in opening weeks

The Saudi Tourism authorities hope to match visitor numbers to previous years which saw between 12 to 15 million tourists visit the annual festival

Saudi Arabia discovers two new natural gas fields

Saudi Arabia discovers new natural gas fields in Empty Quarter

The Minister of Energy said the discovery of the Al-Hiran natural gas field was confirmed after gas flowed from the Hanifa reservoir in the Al-Hiran

Aramco

Saudi Aramco produces first unconventional gas at South Ghawar

Commissioned facilities at South Ghawar can process 300 million standard cubic feet per day of raw gas and 38,000 barrels per day of condensate

GCC markets Image: Getty Images - ipo

Saudi among world’s fastest growing economies in 2024: Moody’s

The Gulf’s biggest economy will be among the three top fastest growing countries in the world next year, with only India and Indonesia set to expand faster

Riyadh Air x Lufthansa

Riyadh Air signs with Microsoft, Lufthansa for digital operations

Microsoft said it will extend its technical expertise to Riyadh Air by offering guidance in architecture design, scalability, and security reviews

NEOM EPICON

NEOM unveils 275m futuristic Epicon Towers

The new development, located on the Gulf of Aqaba, will comprise off two stunning towers

RIYADH AIR COO PETER BELLEW

100 cities by 2030: Riyadh Air COO underlines ambitious goal

Riyadh Air COO Peter Bellew on being the region’s youngest airline, the national carrier’s ambitions, its current challenges, and being a digital native

Saudia x Riyadh Air ink landmark agreement at Dubai AIrshow to strengthen Saudi Aviation

Saudia, Riyadh Air ink landmark deal to boost kingdom’s aviation ecosystem

Benefits that would be available for guests booking flights on Saudia or Riyadh Air will be announced when Riyadh Air launches in 2025

Riyadh Air new livery

Riyadh Air unveils permanent dual-livery at Dubai Airshow

The unveiled livery will see Riyadh Air aircraft decked in a lavender and indigo paint featuring a feather-like design near the rear of the fuselage

UAE's BEEAH, PIF's SIRC set up sustainable waste management firm in Madinah

UAE’s BEEAH, PIF’s SIRC set up sustainable waste management firm in Madinah

The company will be involved in waste collection at the source through treatment, recycling, and disposal in the general landfill in Madinah, Saudi Arabia

oil

Oil set for third weekly decline as Middle East crisis concerns ebb

The drop in prices comes as concerns around supply disruptions due to the Israel crisis ease along with a reduced demand for China

Dr Wijdan of King Faisal Specialist Hospital & Research on Space medicine

Interview: How KFSH&RC is supporting Saudi Arabia’s space ambitions

King Faisal Specialist Hospital & Research Centre’s Dr Wijdan Alahmadi shares the centre’s work in advancing astronaut safety and biomedical discovery

Masdar consortium wins bid for $1bn solar plant in Saudi Arabia

UAE’s Masdar consortium wins bid for $1bn solar plant in Saudi Arabia

The solar facility is expected to reach financial close early next year and connect to the grid in 2025

Aramco Q3 profit falls 23% on lower crude oil prices, volumes

Saudi Aramco Q3 profit falls 23% on lower crude oil prices, volumes

Net profit declined to $32.6bn for the quarter to September 30 from $42.4bn a year earlier

Riyadh Air

Riyadh Air to announce narrowbody plane order in coming weeks

The PIF-owned airline has previously placed an order for 72 Boeing 787 widebody jets in anticipation of its launch date

APICORP relocates to new office in Riyadh

APICORP relocates HQ to Riyadh, move aligns with new 2023-28 business strategy

The move to the new headquarters follows the approval of APICORP’s 2023-2028 business strategy, which includes a new brand identity

Saudi Arabia e visa

Saudi Arabia expands investor e-visa to all countries

The list includes individuals who have a valid tourist or commercial visa from the US, the UK or any Schengen country