#Saudi Arabia

Seven signs deal with Formula E Image Supplied

PIF’s Seven brings world-first Formula E karting attractions to Saudi

The Formula E Karting attractions will be built at four of Seven entertainment destinations located in Riyadh, Jeddah, Dammam and Abha

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

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

Muzzammil Ahussain CEo fo Almosafer

Power Letters 2024: Muzzammil Ahussain, CEO of Almosafer

A surge in visitor numbers is on the cards both in Saudi Arabia and the wider region when the announced unified GCC tourist visa begins to be implemented

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

Saudi's Aramco allocates $4bn to expands global VC programme Image: Getty Images

Energy giant Aramco allocates $4bn to expand global VC programme

Aramco’s venture capital programme supports the development of disruptive new technologies and creates diversification opportunities for Aramco while paving the way for collaborations with innovative startups

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

Bid baggage hassles bye: Saudi Arabia's new luggage service, other services in UAE Image Getty mages

Saudi’s new ‘passengers with no bags’ service — what you need to know

The ‘Passengers with No Bags’ service has been launched across domestic and international Saudi airports, enabling travellers to ship their luggage ahead from home to any destination

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

Banyan Tree group rebrands, to open 19 new properties in 2024 Image supplied

Banyan Tree Group rebrands, aims to open new 19 properties in 2024

During its 30th anniversary this year, Banyan Group will launch Beyond, a new digital companion that offers a holistic experience across its wellbeing framework and withBanyan, an experiential members programme

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

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

ROSHN group CEO David Grover

PIF-owned ROSHN Group’s David Grover shares the company’s ambitious plans

PIF-backed ROSHN’s group CEO tells us how the company is delivering on Saudi Vision 2030’s goals by building over 400,000 homes by 2030

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

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

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

Huawei

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

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

Saudi PIF increases stake in MEPCO to 23.08%

Saudi wealth fund PIF hikes stake in MEPCO to 23.08%

The fund said the investment will enable MEPCO to expand its production, raise its operational efficiency, and support environmental sustainability

UAE, Saudi Arabia non-oil sector grew strongly in December

UAE non-oil sector grew strongly in December, Saudi maintains solid growth

Both the Riyad Bank Saudi Arabia PMI and the S&P Global UAE PMI remained way above the 50-mark that separates growth from contraction

Saudi real estate - EJAR

Saudi rent payment system switches to Ejar from Jan 15

The streamlined electronic service for rent payments aims to improve efficiency, transparency and ease of access for tenants and their landlords