The deal is subject to regulatory approvals and it is expected to be closed in the second half of 2024
The new routes reinforce Saudi Arabia’s commitment to boost the growth of the travel and aviation sectors
Several parts of Saudi Arabia witnessed heavy rains and hail showers this week, prompting warnings from meteorology and civil defense authorities
The company has appointed banks including HSBC and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the debt sale
Spanning 56,280 square metres, the project featuring villas will seamlessly blend modern amenities with Saudi heritage
The Consumer Price Index (CPI) in Saudi Arabia recorded a slight decrease of 0.1 per cent compared to February 2024
By the end of February, Saudi Arabia had a total of 11,757 factories either operational or under construction
In addition to the Al Qassim route, Etihad Airways will increase frequencies to various destinations, including Antalya and Jaipur, starting June 15
This development follows the approval from Saudi Arabia’s cabinet last year on the agreement with Kuwait regarding the railroad project
While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices
The Saudi Exchange played a pivotal role in facilitating more than SAR11.9bn ($3.2bn) raised through IPOs on the Main Market in 2023
The kingdom hopes to attract $100bn in FDI by 2030 to boost non-oil gross domestic product
The rate of unemployment, for both Saudi nationals and expats, decreased in the last quarter of 2023 indicating job creation in the economy
This year, international oil prices have been strong, with Brent holding above $80 a barrel
This venture positions Four Seasons as the latest addition to the lineup of luxury brands at Triple Bay, situated along Saudi Arabia’s stunning northwestern coastline
The holiday will begin at the end of the work day on Sunday, April 7, with most employees getting four days off to mark the festival
The trade pact is expected to lead to one of the world’s largest free trade areas, between Türkiye and the GCC, with a total value of $2.4tn
Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform
The US Secretary of State is on his sixth visit to the region since the October 7 crisis broke out
The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions
Public Investment Fund’s representatives have discussed a potential partnership with US venture capital firm Andreessen Horowitz
Already making significant strides in laying the groundwork for the iconic Mukaab building, the company has excavated nearly four million cubic metres of material
The IPO will offer 120,000,000 shares, representing 30 per cent of SMASCO’s total issued share capital
The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors
The PIF currently ranks number five globally in terms of sovereign wealth funds by asset size
Riyadh Air has signed significant agreements so far with aviation, transportation and sport partners, including Saudia, Turkish Airlines, Boeing, GE, CAE, Swiss AS, Lufthansa Systems, Lucid Motors and Atlético de Madrid
According to the International Trade Administration, there are around 23.5 million gamers in Saudi Arabia, which accounts for almost 70 per cent of its population
Following the theme of its conference, EFG Hermes highlights opportunities available in frontier emerging markets
GDP growth for Saudi Arabia in 2024 is expected to top 2.1 per cent, while growth in the UAE is set to reach 4.4 per cent
The latest data shows that the economy contracted by 4.3 per cent in Q4 2023 after a 16.2 per cent year-on-year decrease in oil activities