#Saudi Arabia

Web3

How Web3 is becoming a more prominent part of today’s economy

Paul Lalovich, partner at Agile Dynamics shares how Web3 Delight Riyadh is connecting global and local Web3 players for enhanced cooperation opportunities

saudi arabia GDP

Tarabut Gateway partners with Saudi’s micro-lending firm Tamam

The partnership will make micro-loans easily accessible, resulting in more favourable loan arrangements for both fintechs and customers

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

The ADX-listed healthcare services provider signed a MoU with Leejam Sports Company to create a joint venture

Oil

Oil extends gain as Saudi Arabia bets on demand rebound in Asia

Saudi Aramco increased most of its prices for crude that will be shipped to its main market of Asia in March

UAE’s non-oil foreign trade grows 17% in 2022

UAE’s non-oil foreign trade grows 17% in 2022

This is the first time that the country’s non-oil foreign trade has surpassed the Dhs2tn mark

National Housing Company CEO

Saudi Arabia’s National Housing Company announces Al-Fursan Suburb project

The project will include more than 50,000 residential units for more than 250,000 people

LEAP23

LEAP23 announces investments of over $9bn to support future technology and startups

The event is running at Riyadh Front Exhibition & Conference Centre from today until February 9

Oracle

Oracle to open third public cloud region in Saudi Arabia

The new region in Riyadh is part of the company’s planned $1.5bn investment to expand cloud infrastructure in the kingdom

Oman, Saudi Arabia sign executive programme for ICT infrastructure enhancement

Saudi Arabia, Oman sign executive programme to enhance ICT infrastructure

The programme will boost cooperation to enhance telecommunication and information technology infrastructure, and high-speed digital interconnection for data exchange

Leap saudi

LEAP23: Second edition of technology event opens today in Riyadh

The Riyadh Front Exhibition & Conference Centre is set to host around 100,000 tech innovators

Saudi Omani conference Photo courtesy saudi press agency SPA

Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn

The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh

vertical farms

Saudi’s PIF partners with AeroFarms to build indoor vertical farms across MENA

The first farm, to be built in Saudi Arabia, will have an annual production capacity of up to 1.1 million kgs of crops

AFC Asian Cup

Saudi Arabia wins rights to host AFC Asian Cup 2027

Saudi Arabia has won the prestigious AFC Asian Cup championship on three occasions: 1984, 1988, and 1996

Saudi Arabia - FDI

Saudi Arabia’s economy grows by 8.7% in 2022

The kingdom’s real GDP grew by 5.4 per cent during the fourth quarter of 2022

UAE's Pure Harvest enters strategic partnership with Saudi's NADEC

Pure Harvest enters strategic partnership with Saudi’s Nadec

The two entities aim to assist in the transition towards greater food security and water conservation in the kingdom and GCC

Saudi Arabia announces new $266m entertainment destination

The destination will feature an e-karting and a 10-lane futuristic bowling experience, a 12-hole indoor adventure golf course, and a 10-screen cinema

Aramco's venture arm invests $14m in Japanese drone tech firm

Aramco’s venture capital arm invests $14m in Japanese drone tech firm

Terra Drone is the first Asian startup to raise funding from Wa’ed Ventures

Saudi Arabia scraps restrictions on Hajj pilgrim numbers, age limit

Saudi prepares to serve two million pilgrims during Hajj season

Hajj is one of the five pillars of Islam, obligatory once in a lifetime for all who are able

Saudi Mastercard

Saudi National Bank partners with Mastercard, SEF to transform esports

The three entities will explore and develop innovative financial products and offerings that create added value and enhance gamers’ experience

Venture debt funding in MENA crosses $260m in 2022

Venture debt funding in MENA crosses $260m in 2022

Fintech accounted for 61 per cent of total funding between 2018 and 2022

Lazard

Lazard names key Aramco IPO banker as head of MENA advisory

Wassim Al-Khatib will also be the CEO of Lazard Saudi Arabia

oil

Oman Energy firm OQ to sell 49% stake in oil-drilling unit IPO

The IPO could raise as much as $500m

Saudi-Aramco acquires Motiva and launches Aramco Trading Americas

Saudi Aramco acquires Motiva, announces launch of Aramco Trading Americas

The move strengthens Aramco Trading Company’s global operations and extensive portfolio, giving it incremental access to the largest oil refinery in North America

Saudi

Saudi 2.0: Digital technologies underpinning the kingdom’s economic landscape

The kingdom’s objective is to become a more prosperous economy, whereby Saudi is ranked among the top 15 economies worldwide by 2030

Jadwa divests stake in Luberef

Davos 2023: Saudi Arabia open to talks on trade in currencies besides dollar

The world’s largest oil exporter is seeking to strengthen its relations with crucial trade partners

Saudi Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Events Investment Fund

Saudi Crown Prince launches Events Investment Fund, aims to boost culture, tourism, sports sectors

The fund will conceptualise, finance and oversee development of more than 35 venues by 2030, with the aim of delivering its first asset by 2023

Saudi Arabia confident about attracting FDI

Saudi Arabia confident about attracting more foreign investors, says minister

The Saudi government has made more than 700 regulatory changes as it seeks to attract investors

Saudi inflation

Saudi inflation hits 3.3% in December, highest in 18 months

Prices for housing, water, electricity, gas and other fuels in the kingdom rose an annual 5.8 per cent, while food and beverages were up 4.2 per cent

Saudi Flynas

Saudi low cost carrier Flynas eyes expansion with overseas units

The airline said it would seek so-called Air Operator Certificates in two unidentified countries as it looks to double the scale of its operations

Saudi Arabia's PIF and Maaden sign JV

Saudi Arabia’s Public Investment Fund and Ma’aden to set up JV

The joint-venture company aims to initially invest in iron ore, copper, nickel, and lithium as a non-operating partner taking minority equity positions