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Saudi Arabia’s PIF pitches kingdom as AI hub

Saudi sovereign wealth fund PIF pitches kingdom as AI hub

Al-Rumayyan’s comments signal that data centres may be a core part of the kingdom’s strategy to capitalise on the booming demand for GenAI technology

Saudi retail growth

Saudi Arabia’s meteoric rise to third place in Global Retail Development Index

Increase in non-cash transactions and strategic initiatives propelled the kingdom’s retail growth

Saudi Arabia mulls follow-on share offerings framework

Saudi Arabia considers regulatory framework for follow-on share offerings

The framework would be a process that is governed and regulated and a catalyst for increasing the free float of listed companies

Saudi Foundation Day

Saudi Arabia Foundation Day 2024: Celebrate long weekend with fireworks and more

The kingdom celebrates the occasion with several events, including fireworks and drone shows paying homage to its history

Diriyah - bab samhan hotel

Saudi heritage on display at Diriyah’s Bab Samhan Hotel

The opening of Bab Samhan marks a significant milestone in Diriyah’s journey towards becoming a premier destination for luxury hospitality

AI - DEEPFEST

Unlocking the potential of AI across industries: Hear it at DeepFest 2024

From revolutionising customer interactions to advancing national security, AI holds promise for shaping the future of technology and human interaction

Alat co-chief of corporate development, Brian Rogove

WATCH: Softbank, PIF’s Alat to build robots in Saudi Arabia

A new JV will build a ‘lighthouse factory’ that will create robots by year-end, according to Brian Rogove, the co-chief of corporate development at Alat.

Saudi Aramco likely to issue a bond in 2024

Saudi Aramco likely to issue a bond in 2024, CFO says

The state-owned energy firm last tapped global debt markets in 2021, when it raised $6bn from the sale of a three-tranche sukuk

Saudi Arabia bolsters film industry with $100m fund

Saudi Arabia unveils $100m film fund in entertainment push

The fund will collaborate with major international studios and provide content that reflects Saudi culture and values

Raffles Hotels & Resorts to debut at NEOM’s Trojena

Raffles Hotels & Resorts set to debut on this NEOM island

Raffles Trojena, the newest hospitality brand to partner with NEOM Hotel Division, will be located in the Discover cluster

Red Sea

Red Sea tensions: Cargo ship abandoned after Houthi Attack

The crew abandoned the ship early on Monday after seeking assistance from Djibouti authorities

Saudi Arabia posts 2023 budget deficit of $22bn

Saudi Arabia’s GDP has ‘nearly doubled’ since 2016

Saudi Arabia’s Minister of Investment, Khalid Al-Falih shared these milestones at the third Saudi Capital Market Forum in Riyadh on February 19

saudi arabia

Saudi finance minister expects above 5% non-oil growth

Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent

ROSHN’s group CEO on transforming Saudi living

ROSHN CEO David Grover on transforming Saudi’s housing sector

The group GCEO tells us that ROSHN is a catalyst for economic growth and diversification in addition to raising homeownership rates in the country

Red Sea

Retailers demand more action from EU to resolve Red Sea crisis

Retailers calling for firm action include members such as supermarket giants Carrefour, Lidl, M&S, and Tesco

SINDALAH-MDLBEAST

Take a look: Sindalah beach club is NEOM’s latest destination

Sindalah will open its doors in 2024, giving a taste of luxury and fun in the future

DeepFest 2024: Bringing the global AI community to Riyadh

Through diverse tech and AI offerings, the event is accelerating the adoption of technology, as well as transforming Saudi Arabia’s economy

Saudi Arabia posts 2023 budget deficit of $22bn

Saudi Arabia posts 2023 budget deficit of $22bn

The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024

Hajj registrations aopen for saudi citizens, residents -GettyImages-1017448984-1-e1690179207464

Hajj 2024: Registrations open for Saudi citizens, residents

Those wishing to perform Hajj from the kingdom can register via the ministry’s website or through the ‘Nusuk’ application

OPEC - OIL FORECAST

OPEC’s Al Ghais: We stand by our forecast of long-term demand for oil

OPEC raised its world oil demand forecasts for the medium and long term in its annual outlook published in October

Riyadh Air announces partnership with Sabre

Riyadh Air, Sabre ink strategic deal, here’s what it involves

Riyadh Air has chosen Sabre’s comprehensive suite of solutions to optimise its network planning and drive revenue growth

Red Sea Global gets SAR2bn financing from Riyad Bank

Saudi Arabia’s Red Sea Global secures SAR2bn debt financing

The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort

Saudi Aramco - oil minister

Saudi Arabia to focus on energy transition, Aramco to maintain capacity: Prince Abdulaziz

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

tanmiah FY 2023 results Image courtesy Tanmiah

Saudi’s Tanmiah sees net profit rise 19.4% riding on poultry sales

Fresh poultry sales, the key contributor to FY 2023 profits, rose 18 per cent to SAR1.73bn over the previous year

oil

How much spare oil production capacity do energy producers have?

The level of spare capacity – or the perception of how much is available – can influence world oil prices.

Saudi Aramco lines up banks for potential share sale

Saudi Arabia poised for new Aramco share sale: Report

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

defense - defence

Saudi Arabia signs deals worth over SAR20bn at World Defense Show 2024

The contracts cover a wide range of defence technologies and initiatives, with a focus on enhancing military equipment and infrastructure

oil

Oil heads for weekly gains after Israel rejects ceasefire offer

Non-OPEC output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned

neom - xaynor

NEOM launches members-only club Xaynor

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

Saudi Arabia visitors cross 100 million

Saudi Arabia visited by 100 million tourists in 2023

The kingdom aims to attract 150 million tourists by 2030, with 80 million domestic and 70 million international tourists