#Saudi Arabia

Aramco, FIFA sign four-year global partnership

Aramco signs multi-year global partnership deal with FIFA

The four-year deal will see Aramco become a worldwide partner of FIFA, including in major tournaments such as the World Cup 2026

Schengen visa process to go digital from 2028

Major Schengen visa update for Bahrain, Oman, Saudi Arabia and India

Under the new arrangement, nationals of Saudi Arabia, Oman, and Bahrain will be eligible for five-year multiple-entry Schengen visas

Render of Ritz-Carlton Reserve in Trojena

Marriott to open Ritz-Carlton Reserve in NEOM’s Trojena

Ritz-Carlton Reserve has only six properties in destinations including Thailand, Indonesia, Puerto Rico, and Mexico

Saudi Arabia hotels sector set for growth -GettyImages-1464744716-1

Saudi Arabia: 320,000 new hotel rooms expected by 2030, reveals report

A development cost of $37.8bn is expected by 2030 toward infrastructure, tourism transformation and real estate, according to industry data released ahead of the Future Hospitality Summit Saudi Arabia

Miahona to float IPO on Saudi Exchange GettyImages-1179702144-e1705645076672

Saudi IPO: Miahona Company to list shares on Tadawul

Miahona was established as one of the first proponents of the public-private partnership (PPP) model in the kingdom

PIF agrees to acquire 51% stake in stc Group’s tower company

Saudi Arabia’s PIF, stc Group to create region’s largest tower company

The deal is subject to regulatory approvals and it is expected to be closed in the second half of 2024

China Southern inaugurates flights from Beijing to Riyadh

China Southern launches new flights connecting Beijing with Riyadh

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the travel and aviation sectors

rain- cloud - thunderstorms

‘Unstable weather system’ brings heavy rain to Saudi Arabia, Bahrain

Several parts of Saudi Arabia witnessed heavy rains and hail showers this week, prompting warnings from meteorology and civil defense authorities

NEOM reportedly considers debut riyal bond sale to fund projects

NEOM reportedly considers debut riyal bond sale to fund projects

The company has appointed banks including HSBC and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the debt sale

Dar Al Arkan, ROSHN partner on SAR215m project in Sedra community

Dar Al Arkan, ROSHN ink deal on SAR215m project in Sedra community

Spanning 56,280 square metres, the project featuring villas will seamlessly blend modern amenities with Saudi heritage

Saudi Arabia posts 2023 budget deficit of $22bn

Inflation in Saudi Arabia cools despite housing rental rises

The Consumer Price Index (CPI) in Saudi Arabia recorded a slight decrease of 0.1 per cent compared to February 2024

Saudi Arabia issues industrial 118 licences in Feb -GettyImages-1464744716-1

Saudi Arabia issues industrial licences worth SAR1.88bn in Feb

By the end of February, Saudi Arabia had a total of 11,757 factories either operational or under construction

Etihad Airways to fly to Al Qassim from June Image Etihad Airways

Etihad to debut flights to this new Saudi destination

In addition to the Al Qassim route, Etihad Airways will increase frequencies to various destinations, including Antalya and Jaipur, starting June 15

Kuwait-Saudi railway link set for completion in 2028

Kuwait-Saudi rail link set for completion in 2028

This development follows the approval from Saudi Arabia’s cabinet last year on the agreement with Kuwait regarding the railroad project

Brent oil price forecast Bloomberg GettyImages-1384536093

OPEC+ gets oil price to its sweet spot, the trick is keeping it there: Insight

While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices

Tadawul marks 400th listing across all securities

Saudi’s Tadawul marks 400th listing across all securities

The Saudi Exchange played a pivotal role in facilitating more than SAR11.9bn ($3.2bn) raised through IPOs on the Main Market in 2023

Saudi Arabia - FDI

Saudi FDI inflows rise 16% for Q4 2023

The kingdom hopes to attract $100bn in FDI by 2030 to boost non-oil gross domestic product

unemployment

Saudi unemployment rate down to 4.4% in Q4 2023

The rate of unemployment, for both Saudi nationals and expats, decreased in the last quarter of 2023 indicating job creation in the economy

Opec+ oil output policy

OPEC+ unlikely to move oil output before June meeting

This year, international oil prices have been strong, with Brent holding above $80 a barrel

Four Seasons wellness resort and residences at Amaala Triple Bay Image RSG

Four Seasons, RSG to develop luxe wellness haven at AMAALA Triple Bay

This venture positions Four Seasons as the latest addition to the lineup of luxury brands at Triple Bay, situated along Saudi Arabia’s stunning northwestern coastline

Eid Al Fitr holiday dates Saudi Arabia

Eid al Fitr 2024: Saudi Arabia announces holiday dates for public and private sector

The holiday will begin at the end of the work day on Sunday, April 7, with most employees getting four days off to mark the festival

Türkiye, GCC states to launch talks for free trade pact

Türkiye, GCC states to launch talks for free trade pact

The trade pact is expected to lead to one of the world’s largest free trade areas, between Türkiye and the GCC, with a total value of $2.4tn

Franklin Templeton expands global reach with Saudi Arabia office

Franklin Templeton opens in Saudi Arabia with key hires to tap deals

Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform

blinken in jeddah

Blinken meets Crown Prince Mohammed bin Salman amid ceasefire negotiations

The US Secretary of State is on his sixth visit to the region since the October 7 crisis broke out

LME to list Jeddah port as a delivery point

LME to list Saudi Arabia’s Jeddah port as delivery point for copper, zinc

The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions

Saudi Arabia reportedly plans $40bn push into AI

Saudi Arabia “plans” $40bn push into artificial intelligence

Public Investment Fund’s representatives have discussed a potential partnership with US venture capital firm Andreessen Horowitz

New Murabba Mukkab

Saudi’s New Murabba ‘open for international investment’, says CEO

Already making significant strides in laying the groundwork for the iconic Mukaab building, the company has excavated nearly four million cubic metres of material

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

Saudi Manpower Solutions Company gets CMA nod to list IPO on Tadawul

The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital

saudi arabia non-oil activity

Saudi Arabia hits important economic milestone: Non-oil activities at 50% of GDP

The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors

PIF

PIF world’s fifth largest sovereign wealth fund post Aramco stake transfer

The PIF currently ranks number five globally in terms of sovereign wealth funds by asset size