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Saudi Arabia

Saudi makes 48-hour negative Covid test mandatory for Umrah pilgrims

The new directive will come into effect on 1am, February 9, 2022

Diriyah: Nesma awarded SAR1.2bn transportation contract

It covers the construction of a network of road tunnels, ramps and a major bridge deck as well

Saudi Arabia

Saudi wealth fund edges closer to green bond with Moody’s rating

Last week, Fitch Ratings gave the fund a rating of A

Green bonds still have a long way to go to dent climate crisis

Global sales of green bonds hit a record $513bn last year

Saudi Arabia airport

Saudi mandates Covid-19 booster shot for citizens travelling abroad

The directive will be put into effect from 1am on February 9, 2022

Mobily partners with Ericsson to expand 5G industry use cases in Saudi Arabia

The collaboration will showcase the importance and capabilities of private networks in a variety of industries

Saudi pharmacy chain seeks $1.3bn in top IPO since Aramco

The firm received regulatory approval for the listing in December

Saudi unveils $1.1bn programme for digital content creation, media production

The ‘Ignite’ initiative will offer several incentives such as financial support for local, regional and international companies and startups

In pics: Day two at Saudi’s global technology platform LEAP22

Saudi Arabia is hosting its largest-ever technology event, LEAP, from February 1-3 at the Riyadh Front Expo Centre

Saudi Telecom spins off data centre, cable assets to new firm

Saudi Telecom already spun off its internet services unit and listed it on the kingdom’s stock market last year

In pics: Day one at Saudi’s largest-ever tech event LEAP22

The event is being held at the Riyadh Front Expo Centre from February 1-3 and will feature over 400 expert speakers

LEAP22: Saudi Arabia unveils over $6.4bn in technology and startup investments

NEOM Tech & Digital Co. launches XVRS cognitive metaverse and M3LD data management platform as part of a $1bn investment

Saudi arabia riyadh

Saudi Arabia’s Elm draws $57bn in institutional orders

Local investors placed orders worth SAR206bn

Global edtech Cuemath expands to Saudi Arabia

Cuemath, backed by Google, launched its operations in the UAE in June 2021

Saudi’s Royal Commission for AlUla launches autonomous pod vehicle service

Pilot scheme for fully automated electric passenger pod will ferry people between the south entrance to AlUla’s Old Town and south car park

Saudi-based e-commerce platform raises $36m in funding

The company’s Series A round was led by Silicon Valley’s Graphene Ventures

Saudi Investment

Saudi wealth fund rakes in $5bn as demand for stocks booms

The Saudi benchmark index has jumped about 9 per cent this year

Saudi’s PIF launches Savvy Gaming Group to spur gaming, esports sector

The group aims to be the leading national and international gaming and e-sports company

Saudi Investment

Saudi’s largest-ever tech event, LEAP, to take place in February

The event will be held at the Riyadh Front Expo Centre from February 1-3 and will feature over 400 expert speakers across six conferences

Saudi’s Tourism Development Fund partners with Al Nahla Group to launch $80m destination

The project will feature upscale accommodation with more than 150 keys

Saudi Arabia plans to keep debt stable as oil income surges

Euro-denominated outstanding debt is currently around 2 per cent of the kingdom’s overall portfolio

Saudi fund’s digital security firm seeks $820m from IPO

The IPO comes as countries in the Middle East step up efforts to sell shares in private companies and boost liquidity on their stock markets

Saudi Company for Artificial Intelligence launches operations

PIF-owned SCAI will foster innovation in strategic sectors and accelerate key national technological priorities

Saudi Crown Prince unveils new hospitality brand to revive kingdom’s heritage

The Boutique Group will transform historic and cultural palaces into luxurious boutique hotels in Saudi Arabia

Landmarks Of The City Of Riyadh, Kingdom Of Saudi Arabia

Sequoia picks Saudi fintech for first Gulf deal as foray expands

Sequoia is deepening its presence in the Middle East after recently backing companies from Turkey to Egypt

Mubadala Energy

Dwindling OPEC+ spare capacity sets oil up for sizzling summer

Last month, the 10 OPEC nations in the accord managed only 60 per cent of their stipulated 250,000 barrel-a-day increase

HSBC reclaims bond crown in Mideast

Following $122bn in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year

Saudi oil minister says he’s unconcerned about rise in prices

Brent crude’s climbed 11 per cent since the end of December to above $86 a barrel

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Proven Robotics opens first robotics training centre in Saudi Arabia

The new facility will also provide customers original spare parts, onsite troubleshooting, in-house maintenance services

Apicorp and IsDB partner in $1bn infrastructure financing initiative

The joint ‘Infra Initiative’ aims to incentivise more private sector investments and mobilise funding for utility projects