#Saudi Arabia

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar aims to add to existing projects in the kingdom, including a 400MW wind farm and a 300MW solar power plant

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent

Saudi Arabia sets up carbon market firm to support net-zero goal

The Public Investment Fund said it started the Regional Voluntary Carbon Market Company with Saudi Tadawul Group

Saudi Arabia signs 6 MoUs courtesy Saudi Press Agency

Saudi Arabia signs six MoUs on opening day of 6th Future Investment Initiative

The agreements will support the efforts and objectives of the Ministry of Investment to attract investments, enable sectors to grow and facilitate access to investment opportunities

Saudi Telecom

Saudi’s PIF offers to buy stake in $5.8bn STC towers unit

The PIF made a non-binding offer to Saudi Telecom Co. for 51 per cent of Telecommunications Towers Company

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

The US bank will have doubled the size of its Saudi operations by the end of the year, compared to 2016

Saudi Arabia’s PIF launches company to develop halal production industry

The company aims to localise knowledge, technology and innovation for the development of halal products, including foods, cosmetics, and pharmaceuticals

Saudi Arabia launches supply chain initiative to beckon $10.6bn of investments

The initiative will contribute to overcoming challenges faced by global supply chains

Aramco Launches Taleed Program to Accelerate SME growth in Saudi Arabia

Aramco launches Taleed to accelerate SME growth in Saudi Arabia

The programme will provide SMEs a wide range of support from capability building and strategy development to training, market access, advisory services and business planning

OPEC+ says growing risk of global recession justifies oil cuts

OPEC+ says growing risk of global recession justifies oil cuts

The group agreed on October 5 to reduce its collective crude-output target by 2 million barrels

SAUDI-ARABIA-alcohol

Saudi retail enablement company Zid raises $50m in Series B funding

The proceeds will be used by Zid to expand into new markets in Saudi Arabia and in the region

Proven Reality

Proven Reality, Gulf Medical University sign MoU to promote healthcare education blended with VR

The Simbios Proven Reality virtual reality training software enables teachers to design more individualised training programmes that meet the goals of medical students

FIFA World Cup ticket sales near 3 million

FIFA World Cup ticket sales near 3 million with over a month to go

Demand has been highest among fans based in Qatar, the US, Saudi Arabia, England, Mexico, the UAE, Argentina, France, Brazil, and Germany

Saudi Arabia to issue free e-visa for Hayya Card holders

Saudi Arabia to issue free e-visa for Hayya Card holders

The FIFA World Cup is starting on November 20 and will run until December 18

Amazon opens its new corporate office in Riyadh

Amazon opens its new corporate office in Riyadh

With the opening of the new office, Amazon is also working to launch an initiative to empower and train Saudi talent

Aster Pharmacy to set up stores in KSA

Aster, Al Hokair Holding Group to set up over 250 pharmacies in Saudi Arabia

As part of the first phase, the partnership will see Aster pharmacies opening and operating in high streets, communities and shopping malls, beginning with Riyadh

Bayfront Project Al-Khobar Saudi Arabia

Saudi’s Ajdan Real Estate Development Company to develop SAR250m Bayfront project in Al-Khobar

Bayfront will be located on the northern part of Al-Khobar’s beach, spanning over 100,000 square metres from the shore with a 1,600-square-metre island

Healthcare provider Burjeel soars in debut of scaled-down IPO

Burjeel Holdings rose 20 per cent to almost Dhs2.4 in Abu Dhabi

Saudi utility Marafiq seeks to raise $897m in share sale

Book-building for Marafiq’s IPO opens on Sunday and lasts until October 14, followed by a retail offering from October 26-29

Black Hat event

Riyadh to host infosec heavyweights at Black Hat MEA show in November

Visitors can expect a packed agenda with cybersecurity training, hacking competitions and sessions with leading international speakers at the event

Saudi’s Seera Group to operate inbound charter flights to the kingdom

Flights will operate from November 2022 through to March 2023

STC to spend $1bn to make Saudi Arabia a regional data hub

STC is expanding into a range of services beyond its core telephone network business

Saudi Arabia wins bid to host 2029 Asian Winter Games in Neom's Trojena

Saudi Arabia to host 2029 Asian Winter Games at NEOM’s Trojena

The announcement was made at the General Assembly meeting of the Olympic Council of Asia held in Cambodia

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

Yousef-Abdullah-Al-Benyan

CEO of Saudi Arabia’s Sabic, Yousef Abdullah Al-Benyan, resigns

By virtue of a royal decree, Al-Benyan was appointed as the kingdom’s new education minister

Alteia

French enterprise AI platform Alteia closes its latest funding round led by Wa’ed Ventures

The company will increase its presence in Saudi Arabia by opening an office in Dhahran to develop industrial vision-based solutions

Saudi Crown Prince

Saudi Crown Prince Mohammed bin Salman named Prime Minister

The directive comes as part of a cabinet reshuffle

HSBC Saudi Arabia promotes Faris Alghannam to CEO role

Alghannam has been with HSBC Saudi Arabia since 2011

UAE, Saudi Arabia non-oil foreign trade

UAE, Saudi Arabia non-oil foreign trade grows 92.5% over past decade

Saudi Arabia was the UAE’s fourth leading trading partner from 2012 to 2021, with trade exchange amounting to Dhs904.3bn

Saudi National Day celebrations in UAE

UAE to celebrate Saudi National Day with fireworks, festivities and retail offers

UAE will commemorate Saudi Arabia’s 92nd National Day with an extensive programme of celebrations from September 23 to 26