#Saudi Arabia

Saudi’s PIF acquires up to 9.5% stake in Skyborn Renewables

The investment will allow the sovereign wealth fund to participate in the acceleration of energy transition and clean energy at an international scale

Service

Regional wealth management firm launches invest now pay later service

The service allows investors to start investing in private markets without funding the entire commitment from day one

Stella Stays

Proptech Stella Stays expands footprint, opens second residence tower in Riyadh

The Olaya Tower 2 offers furnished apartments, a co-working space and other recreational and commercial services

Saudi Arabia’s real GDP grows 8.8% in third quarter

Oil activities in the third quarter increased 14.2 per cent year-on-year

Saudi Arabia's non-oil exports rise 4% to $6.6bln in October

Saudi Arabia sees 2023 budget surplus bump

Revenues are now set to reach SAR1.13tn, slightly more than projected earlier

Saudi’s NEOM unveils first luxury island development

Sindalah will feature a 86-berth marina, while offshore buoys will house superyachts

Saudi Exchange Tadawul

Saudi Exchange launches market-making framework for equity and derivatives markets

This step further enhances the Saudi Exchange’s appeal as an investment destination for investors and issuers, regionally and internationally

Saudi’s Public Investment Fund launches Aseer Investment Company

The new investment arm will attract local and foreign direct investment to develop the Aseer region

PIF subsidiary, ACWA Power to develop MENA’s largest solar plant in Saudi Arabia

The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province

Oracle

Oracle, stc announce business partnership

The announcement came after Oracle’s CEO Safra A. Catz visited stc’s headquarters

Saudi

Saudi Arabia wealth fund raises $17bn loan for refinancing

Public Investment Fund raised the seven-year loan from a syndicate of 25 banks in Europe, the US, the Middle East and Asia

saudi arabia

Saudi PIF-backed EV firm secures site for Foxconn project

Construction on the site, which is near a major Red Sea trading port, will start early next year

Careem

Careem clocks in one billion rides

Careem captains have driven over nine billion kilometres across more than 80 cities in ten years

saudi arabia

Informa, SAFCSP form JV to build global events portfolio in Saudi Arabia

By providing market access, stimulating inbound investment and generating international trade, events can contribute to delivering significant economic stimulus to a country

Qatar Airways

Qatar Airways to resume service to Taif with three weekly flights

The resumption of services marks the airline’s sixth destination in Saudi Arabia

Saudi Arabia elected chair of UNWTO

UNWTO elects Saudi Arabia as chair of Executive Council

The Saudi Minister of Tourism, Ahmed Al-Khateeb, will represent the kingdom as chair of the UNWTO Executive Council

shop online

How to shop safely online by avoiding common scams

Although online shopping is extremely convenient, consumers should always be alert when looking for the top offers

Saudi Aramco announces record Q2 and H1 2022 results

Saudi Aramco Base Oil gets approval for Riyadh share offering

Saudi Aramco is aiming to sell 50 million shares – a 29.7 per cent stake – in the company

Nestle to invest $1.9bn in Saudi Arabia over next decade

The plant, set to open in 2025, will serve Saudi Arabia and export markets in the Middle East and North Africa

Mideast KFC operator Americana raises $1.8bn from IPO

Mideast KFC operator Americana raises $1.8bn from IPO

Americana will be the first company to have its shares traded in both Riyadh and Abu Dhabi

chess

The Arab Esports Federation moves into Web3 and launches online chess platform

The federation is headquartered in Riyadh and is led by Prince Faisal bin Bandar bin Sultan

Saudi Arabia announces public holiday after historic FIFA World Cup win

Saudi Arabia stunned Argentina in a 2-1 win, to mark an unprecedented entry into the football tournament

Qashio

UAE-based fintech Qashio raises $10m in a seed round

The company’s virtual and physical cards combined with its software allow businesses to manage their spending in a more automated and transparent way

Oil steadies after wild ride with Chinese demand, OPEC+ in focus

Oil prices have weakened this month on concerns about demand

americana courtesy WAM

KFC operator Americana doubles UAE retail offer for IPO

The subscription periods remain unchanged and will continue until November 21, for individuals and other investors in the UAE and Saudi Arabia

UAE President meets Saudi Crown Prince on sidelines of G20 summit

The two leaders discussed relations between the UAE and Saudi Arabia

Alula

Saudi’s Royal Commission for AlUla enters the metaverse

RCU has created a 3D model of Hegra’s Tomb of Lihyan, son of Kuza, a UNESCO World Heritage site

PIF partners with Blackrock to explore investments in Saudi Arabia, Middle East

The two entities will collaborate to attract regional and international investors, and boost foreign direct investment into Saudi Arabia

Funding for green-hydrogen plant - sustainable

Funding for green-hydrogen plant at Saudi Arabia’s Neom almost done

Construction of the $5bn plant in the north-west of the kingdom has started

Saudi PIF sells 10% stake in Tadawul

Saudi Arabia’s PIF completes sale of part of its stake in Tadawul

The offering size was SAR2.3bn, making it the second largest accelerated bookbuild offering to ever take place in the Saudi market and the GCC region