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Saudi Arabia

OPEC+ still sees no need to change plan despite Ukraine crisis

Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month

Saudi’s Alpha Pharma and SAP sign deal for digital transformation partnership

SAP’s suite of solutions to deliver initial steps into wider digitalisation strategy

Saudi wealth fund may make major investment in building firms

Talks between Public Investment Fund and the four contractors are at an early stage

E-commerce

Saudi grocer BinDawood buys majority stake in online developer

The deal is expected to close in the second half of the year

Aramco and ACWA Power look to join Saudi carbon trading exchange

The kingdom’s sovereign wealth fund signed non-binding memorandums of understanding with five companies

KFC Operator

Middle East KFC operator starts early talks over listing

Discussions are ongoing, but no advisers have been hired

Biggest Saudi listing since Aramco surges on trading debut

Nahdi’s IPO is the largest listing in the kingdom since Saudi Aramco raised almost $30bn in 2019

Resecurity introduces dark web intelligence in Saudi Arabia

The US-based company recently exhibited their solutions and shared their expertise at the World Defense Show in the kingdom

Japan asks UAE to boost oil output

OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020

Saudi Aramco reports $110bn in net income for 2021, up 124% year-on-year

Aramco declared a dividend of $18.8bn for the fourth quarter, to be paid in Q1 2022

Saudi ukraine visas

Saudi Arabia to extend visas of Ukrainians in kingdom

The visas will be extended without any fees charged and will be done so automatically

Saudi Arabia to start building green hydrogen plant in NEOM

The NEOM project, called Helios, is led by a consortium including Air Products and ACWA Power International

Saudi Arabia’s real GDP grows 3.2% in 2021

The kingdom’s real GDP grew by 6.7 per cent in the fourth quarter of 2021

UAE’s e& offers to boost stake in Mobily in $2.12bn deal

E& offered SAR47 a share for a higher stake in Mobily, a 22.2 per cent premium to its Tuesday’s closing price

UK’s Johnson to meet UAE, Saudi leaders this week

Saudi Arabia and the UAE pump more than 13 million barrels a day of oil between them

Saudi pharma retail chain Al-Dawaa surges in trading debut

The shares surged as much as 18 per cent to SAR86.1

Getty Images

How technology will inevitably play an important role in Saudi Arabia

The kingdom recently announced over $6.4bn of investments in future technologies and entrepreneurship at LEAP, the largest tech event in Saudi Arabia

Riyadh

Saudi oil refinery targeted in drone attack

The strike on the facility in Riyadh on Thursday morning did not result in any injuries, while the supply of oil from it remained unaffected too

Saudi Aramco JV to develop refinery and petrochemical complex in China

The facility will be built in the city of Panjin, in China’s Liaoning Province

Cisco Saudi Arabia and Sultan Bin Abdulaziz Humanitarian City collaborate

The MoU aims to develop cooperation in digital transformation and explore ways to accelerate digital health services to patients

Saudi Arabia’s first movie chain plans landmark IPO

Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand

Trojena NEOM

Trojena: All you need to know about Saudi’s new mega tourism project

Trojena which will include the GCC first outdoor ski resort is expected to create more than 10,000 jobs and add SAR3bn to the kingdom’s GDP by 2030

Saudi exchange to allow single-stock futures from next quarter

The Tadawul introduced index futures in August 2020

Saudi’s $500bn NEOM megaproject beckons potential investor interest

Invitations were sent to private equity firms, bankers and construction suppliers for the gathering

Buy-now-pay-later provider tabby secures $54m in funding

The investment will support tabby’s international expansion plans

Saudi Arabia

Saudi lifts Covid-19 restrictions, scraps PCR testing requirement for incoming travellers

Social distancing measures in all open and closed places, activities, and events have also been suspended

Saudi Arabia to get its first Spinneys store

The first store is expected to launch in Riyadh in the first quarter of 2023

Saudi tech firm Master Works clinches $40m investment deal

The company, which has its headquarters in Riyadh and a presence in Egypt, UAE, Jordan and India, has served more than 140 clients in Saudi Arabia

Uber’s Careem is latest investor in Egyptian food delivery scene

Egypt’s food delivery market is worth an estimated $2.8bn

Saudi oil discovery

Saudi announces discovery of natural gas fields across four regions

Saudi Aramco has discovered the five fields that can produce over 100 million cubic feet per day of natural gas in total