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Saudia witnesses 21% yearly surge in passengers

Saudia witnesses 21% yearly surge in passengers

The state-owned carrier operated 176,300 flights while transit flights registered 77 per cent growth compared to the year 2019

Saudi Arabia’s PIF seeks to raise $5bn from bond sale

Saudi Arabia’s PIF taps debt market with $5bn three-part bond

The triple-tranche bond sale generated strong demand, with orders worth over $27bn

PIF Launches Electric 360 Image PIF

PIF unveils ‘Electric 360’ partnership, announces new brand revamp

The partnership with Formula E, Extreme E and E1 will promote educational opportunities tied to electric motorsports, as well as community, social programmes and environmental stewardship

SABIC to build $6.4bn China petrochemical plant

Saudi Arabia’s SABIC gives go-ahead for $6.4bn China petrochemical plant

The complex is expected to be able to produce 1.8 million metric tons of ethylene per year and is designed to expand SABIC’s manufacturing presence in Asia

The RIG msterplan announced Image courtesy OPDC The RIG

Saudi oil rig ‘adventure park’ gets a masterplan

The project includes three hotels with a total of 800 rooms, 11 restaurants, an extreme sports and adventure park, a marina and helipads

Saudi Tadawul Group acquires 32.6% stake in Dubai Mercantile Exchange

Saudi Tadawul Group acquires 32.6% stake in Dubai Mercantile Exchange

The trading platform will be rebranded the Gulf Mercantile Exchange and expand in energy, metals and agricultural products as part of the deal

jobs in UAE, Saudi Arabia

Trends shaping the 2024 jobs landscape in UAE, Saudi Arabia

Better salaries and a better work-life balance, are the top reasons for seeking a job change, as 62 per cent employees consider a job move this year

ADCB obtains Saudi banking licence in regional expansion push

ADCB secures Saudi banking licence in regional expansion push

The bank will provide services for both corporate and institutional clients, including financing and working capital solutions

Mawani posts 12.07% surge in container handling

Saudi Arabia’s Mawani posts 12.07% surge in container handling

The authority achieved its highest-ever monthly container handling statistics in May 2023, with an 18.8 per cent increase in containers handled at its ports

Saudi inflation eases further in December to 1.5%

Saudi inflation continues to ease in December to 1.5%

The statistics authority said rental prices increased by 9 per cent in December 2023

Saudia to offer air taxi service for Hajj and Umrah pilgrims. the airliene to source aircraft from Lilium Lilium jet Image courtesy Lilium

Saudia to offer air taxi service between Jeddah, Makkah for pilgrims

The group is looking to purchase 100 Lilium jets and German-made electric vertical take-off and landing aircraft to operate the service

GII acquires SAR600m stake in Saudi hospital chain

Dubai’s GII invests SAR600m in Saudi hospital chain

Abeer operates about 50 health-care facilities including hospitals, pharmacies and clinics in Saudi Arabia and the GCC region

Saudi Arabia’s Avalon Pharma sets IPO price range

Saudi Arabia’s Avalon Pharma sets IPO price range

The company will offer six million shares, or 30 per cent of its issued share capital, on the Saudi Exchange

NEOM to feature Apartments by Marriott Bonvoy at Sindalah Image Supplied

NEOM to feature Apartments by Marriott Bonvoy at Sindalah

The property, set to open this year, will feature units ranging from studios to one, two, and three-bedroom apartments

NEOM's Aquellum development. (Source: NEOM)

NEOM reveals ‘upside-down’, underground skyscraper in Saudi mountains

NEOM’s new futuristic project will also include bringing life-like meta-verse experiences and an “omnidirectional internal transit system”

PIF-backed ROSHN partners with EVIQ to power EV adoption in Saudi Arabia Image courtesy Getty Images

PIF-backed ROSHN, EVIQ to power EV adoption in Saudi Arabia

The collaboration between ROSHN and EVIQ will also see the launch of the kingdom’s first fast-charging public site launch at ROSHN Front in Riyadh

Saudi Arabia unveils new premium residency scheme

How Saudi Arabia seeks to attract foreign talent, investments

The five new premium residency products offer a wide range of benefits to holders, including the ability to conduct business and own real estate properties

Avalon Pharmaceuticals partners with AlUla Peregrina

Saudi Arabia’s Avalon Pharma partners with AlUla Peregrina Trading

The patented formulas that will emerge from the collaboration will undergo a few months of formulation, tests and assessment process

Saudi Arabia leads MENA venture capital market

Saudi Arabia secures $1.4bn in 2023, leads MENA VC fundraising

The kingdom’s venture capital market was boosted by the government’s focus on innovation, a dedicated unicorn project, and investments from sovereign funds

Strong demand for Saudi Arabia’s $12bn bond issuance

Saudi Arabia has successfully sold $3.25bn, $4bn and $4.75bn bonds in tenors of six, 10 and 30 years for domestic budgetary purposes

Shares in MBC Group soar 30% on Saudi exchange debut

Shares in regional broadcaster MBC Group soared 30 per cent on its debut on Saudi Arabia’s Tadawul stock exchange on Monday

Shareek programme to suppport Saudi Arabia's private sector

Saudi Arabia records 40% jump in cloud computing growth

The issuance of cloud computing permits in Saudi Arabia increased 40 per cent year-on-year to reach 1,759 for the last quarter

ADEL DISTRICT - DAMMAM

Adel District blueprint envisions 50,000 residents in Dammam’s biggest urban development

Adel District is a plot-based urban development and will comprise five expansive residential neighborhoods

NEOM, Saudi Energy Ministry sign energy cooperation deal

NEOM, Saudi Energy Ministry sign MoU on cooperation in energy fields

The agreement outlines the collaboration between the two entities to develop modern technologies in the energy sector

Avalon Pharma to sell 30% stake in Riyadh IPO

Saudi Arabia’s Avalon Pharma plans to list 30% on Tadawul

The pharmaceutical firm said the final offer price will be determined following a January 14-18 book-building period

Saudi Arabia's Vision for S

How digital ID is unlocking Saudi Arabia’s vision for smarter cities

With a burgeoning ecosystem of over 100 fintech companies and a thriving array of digital wallets and services such as STC Pay, UrPay, and Friendi Pay, the kingdom is making significant strides towards diversifying its economy

suez canal

Shipping traffic through Suez Canal down 20% due to Middle East tensions

The Suez Canal is an important source of dollar revenues for Egypt

Huawei Cloud advances Saudi cloud operation with new licence

Huawei advances Saudi cloud operation with new licence

The licencing allows Huawei Cloud to deliver cutting-edge Cloud Services to both public and private sectors across the kingdom and the wider region

ANTONY-BLINKEN-MAHMOUD-ABBAS-STATE-DEPT

Antony Blinken back in the Middle East as Israel crisis rages on: 8 countries on tour list

Blinken’s visit to the region comes amid an escalation to the crisis in the Middle East

Saudi Arabia e-visas now available to residents of 63 countries photo-courtesy-WAM

New business registrations surged in Saudi Arabia in 2023

In its latest bulletin, Saudi Arabia’s Ministry of Commerce announced a 23 per cent rise in company registrations for the final quarter of 2023