#Saudi Arabia

Riyadh Air (Image: Sourced from Riyadh Air Media Centre)

Riyadh Air signs deal for 90 GEnx engines at Paris Air Show

The deal also includes spares and a services agreement to support the airline’s upcoming Boeing 787-9 Dreamliner fleet

Electric buses Saudi Arabia

Saudi’s Transport General Authority introduces self-driving electric buses for Hajj pilgrims

Without requiring human intervention, the buses navigate along a predetermined route, utilising the data collected and analysed during their movement to make informed decisions

Emirates Eid Al Adha 2023

Emirates adds extra flights for Hajj season and Eid Al Adha celebrations

The airline has deployed an additional 34 flights to popular destinations

UAE tourist attraction

UAE’s top tourist attraction revealed

The destination holds twice the popularity compared to any other venue

Uber and Saudi railway deal

Saudi railways integrates Uber’s reserve product on rail platform

The service allows passengers to pre-book up to four reserve rides to and from seven train stations across six cities

flynas A320neo aircraft

Saudi Arabia’s flynas orders 30 A320neo family aircraft

The order is expected to support the carrier’s growth plans as it continues to expand its international routes and destinations network

PIF sets up Lifera to boost biopharma industry growth

Saudi Arabia’s PIF sets up Lifera to boost biopharma industry growth

The biopharma investment firm seeks to advance formulation development, medicine development and manufacturing

Modirum

PayTabs becomes first to deploy Modirum 3D secure payment solutions in Saudi Arabia

The alliance aims to offer flexible and cost effective secure authentication solutions for PayTabs merchants, banks and processors

Air Arabia Egypt

Air Arabia Egypt resumes direct flights to Yanbu

The direct flights will connect Cairo International Airport with Prince Abdul Mohsin bin Abdulaziz International Airport starting from August 4, 2023

Mashaaer metro

Saudi’s Mashaaer metro line ready to transport over 2 million pilgrims

The high-speed electric train was specifically designed to cater to the needs of pilgrims during the annual Hajj season

Anantara resort to open in Trojena NTR Lake Knoll image supplied by Minor Group image Minor Group

Minor Hotels announces new Anantara resort in Trojena, NEOM

The 270-key resort will offer a selection of guest rooms and suites, including some with private pools, and all with spectacular lake or mountain views

Saudi cost of living

Saudi cost of living in line with swift economic progress: Mercer

The driver behind the changes in Saudi Arabia’s cost of living is an increase in the cost of groceries and personal care items

PwC Middle East training in KSA

PwC Middle East to train next-generation Saudi talent in AlUla

The programme allows the young graduates to advance their digital capabilities while acquiring skills and experience

Arab China Conference

Arab-China Business Conference underscores strengthening ties

The forum concluded with the signing of the Riyadh Declaration, underscoring continued collaboration between the China and Arab countries.

Oil prices near four-month high

Oil holds near three-month low as demand concerns reverberate

West Texas Intermediate edged higher to trade above $67 a barrel, after losing around 8 per cent over the previous three sessions

e-visa

Saudi Arabia introduces new instant e-visa

The introduction of the e-visa is one of several initiatives launched by the kingdom in the past year to enhance the visitor experience

Saudi Arabia signs deal with China EV maker

Saudi Arabia inks $5.6bn deal with Chinese EV brand Human Horizons

The deal accounts for more than half of the $10bn investment agreements that were signed on the first day of the Arab-China business conference

IMF trims Saudi Arabia growth forecast

IMF trims Saudi Arabia growth forecast to 2.1% in 2023

The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue

Proven

TMF Group expands into Saudi by acquiring Proven’s corporate services business

TMF Group will open a new office in Riyadh, and build on the existing Saudi clients

PIF merges LIV Golf and PGA Tour

Saudi-backed LIV Golf merges with PGA Tour and DP World Tour

The merged entity will implement a plan to grow the combined commercial businesses, drive greater fan engagement and accelerate growth initiatives

Flynas (Image: Supplied by flynas)

Flynas to commence flights to Egypt’s Sphinx International airport

It will operate thrice-weekly nonstop services from Riyadh and Jeddah

NEOM construction progress

Saudi Arabia’s NEOM gets $5.6bn to build workforce housing

The scope of the agreement will cover elements of design, finance, build, operations and maintenance of the housing communities

Red Sea Global partanna image- Red Sea Global

Saudi’s Red Sea Global, Partanna project to use carbon-negative concrete

Partanna, which uses recycled ocean water brine in its carbon-negative concrete, will supply Red Sea Global with 11,000 carbon-negative pavers initially for its landscape nursery

Saudi Arabia sports clubs’ privatisation plan

Saudi Arabia kicks off sports clubs privatisation project

The project seeks to raise Saudi Pro League’s commercial revenues from SAR450m in 2022 to over SAR1.8bn annually

Oil production to be hit after Saudi Arabia announces cuts. Image: Getty Images

Saudi Arabia to cut additional one million barrels in oil production after OPEC+ talks

The 23-nation group offered no additional action to buttress the market, but pledged to maintain their existing oil production cuts until the end of 2024

Riyadh Air

Riyadh Air unveils new livery

The airline describes it as a “perfect blend of cutting-edge technology and timeless elegance”

Saudi Arabia disburses $8bn

Saudi Arabia’s National Development Fund disburses over $8bn in financing

The Saudi Industrial Development Fund supported over 100 beneficiaries through the industrial fund’s academic and advisory programmes

Tamimi markets sells 30% stake to PIF

Saudi wealth fund PIF to acquire 30% stake in Tamimi Markets

The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering

Saudi-backed Lucid Air sedan

Saudi-backed electric car maker Lucid plans to raise $3bn

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

PwC Middle East

PwC Middle East inaugurates regional headquarters in Riyadh

This comes as part of the firm’s broader commitment to the region to create 6,000 new jobs and continued investment in digital technology and ESG