#Saudi Arabia

Saudi Investment

Saudi Arabia makes $5bn deposit in Egypt Central Bank

It is part of the kingdom’s efforts to support Egypt’s economy

Emaar to manage new Armani hotel in Saudi Arabia’s Diriyah development

Armani Hotel Diriyah will include 70 rooms and two restaurants, with its suites featuring their own spa and swimming pool

OPEC says it’s stabilised oil market

The Organization of Petroleum Exporting Countries and its partners have resisted calls to raise output faster

SAFCSP and Spire Solutions ink partnership for capacity building in Saudi Arabia

The partnership aims to support Saudi youth by providing a series of short courses on some of the latest cybersecurity technologies

Saudi Arabia’s FDI hit decade-high last year on Aramco deal

Foreign direct investment in 2021 totalled $19.3bn, the most since 2010

Dubai attracts 57% of scaleup funding in MENA region – report

Scaleups in the UAE raised $5.4bn as of December 2021

Saudi’s Alpha Pharma and SAP sign deal for digital transformation partnership

SAP’s suite of solutions to deliver initial steps into wider digitalisation strategy

E-commerce

Saudi grocer BinDawood buys majority stake in online developer

The deal is expected to close in the second half of the year

Aramco and ACWA Power look to join Saudi carbon trading exchange

The kingdom’s sovereign wealth fund signed non-binding memorandums of understanding with five companies

KFC Operator

Middle East KFC operator starts early talks over listing

Discussions are ongoing, but no advisers have been hired

Biggest Saudi listing since Aramco surges on trading debut

Nahdi’s IPO is the largest listing in the kingdom since Saudi Aramco raised almost $30bn in 2019

Bahrain sees higher oil helping it beat budget balance target

The International Monetary Fund estimates Bahrain needs oil prices of around $107 a barrel to balance its budget

Resecurity introduces dark web intelligence in Saudi Arabia

The US-based company recently exhibited their solutions and shared their expertise at the World Defense Show in the kingdom

Japan asks UAE to boost oil output

OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020

Saudi ukraine visas

Saudi Arabia to extend visas of Ukrainians in kingdom

The visas will be extended without any fees charged and will be done so automatically

Dar Al Arkan Elie Saab

Dar Al Arkan teams up with Elie Saab for new residential project in Qatar

Les Vagues will feature 70 one-, two- and three-bedroom sea-front residences

Saudi Arabia to start building green hydrogen plant in NEOM

The NEOM project, called Helios, is led by a consortium including Air Products and ACWA Power International

Saudi Arabia’s real GDP grows 3.2% in 2021

The kingdom’s real GDP grew by 6.7 per cent in the fourth quarter of 2021

UAE’s e& offers to boost stake in Mobily in $2.12bn deal

E& offered SAR47 a share for a higher stake in Mobily, a 22.2 per cent premium to its Tuesday’s closing price

Four trends to reboot the GCC construction sector in 2022

Rising up to these opportunities will not only offer up success, but set early-movers apart as industry role models

Cover Story: How Informa Markets is putting the Middle East region on the global map

From being hit hard during the Covid-19 pandemic to organising LEAP22, Mike Champion and Annabelle Mander of Informa Markets, tell us how their company’s resilience has helped them successfully deliver some of the region’s top live events

Getty Images

How technology will inevitably play an important role in Saudi Arabia

The kingdom recently announced over $6.4bn of investments in future technologies and entrepreneurship at LEAP, the largest tech event in Saudi Arabia

Riyadh

Saudi oil refinery targeted in drone attack

The strike on the facility in Riyadh on Thursday morning did not result in any injuries, while the supply of oil from it remained unaffected too

Cisco Saudi Arabia and Sultan Bin Abdulaziz Humanitarian City collaborate

The MoU aims to develop cooperation in digital transformation and explore ways to accelerate digital health services to patients

Saudi Arabia’s first movie chain plans landmark IPO

Muvi Cinemas is Saudi Arabia’s first homegrown cinema brand

Dr. Maryam Ali Ficociello, Chief Governance Officer at The Red Sea Development Company

Women in business: How empowering women will in turn power our economies

Simply recruiting more females is not enough

Trojena NEOM

Trojena: All you need to know about Saudi’s new mega tourism project

Trojena which will include the GCC first outdoor ski resort is expected to create more than 10,000 jobs and add SAR3bn to the kingdom’s GDP by 2030

Women in business: How diverse perspectives deliver greater profitability

Strong leadership has nothing to do with gender, feminism or politics – and everything to do with outperforming on both profitability and value creation

Buy-now-pay-later provider tabby secures $54m in funding

The investment will support tabby’s international expansion plans

Sophia

Sophia, the first intelligent humanoid robot, to debut in Dubai

Saudi Arabia granted her citizenship in October 2017