#Saudi Arabia

Saudia turns to Germany’s Lilium for flying taxis

Saudia turns to Germany’s Lilium for flying taxis

The state-owned airline made a firm order for 50 of its eVTOL aircraft, with an option for an additional 50 later

Bahri pulls out of bidding for Germany’s DB Schenker

Saudi Arabia’s Bahri drops out of race for Deutsche Bahn’s Schenker

The departure means state-owned Deutsche Bahn needs to lower its sights on proceeds because Bahri’s offer was the highest

Emirates Steel, Eversendai partner for NEOM Trojena Ski Village project Image courtesy NEOM for illustrative purposes

Emirates Steel, Eversendai partner for NEOM Trojena Ski Village project

In line with the partnership with Eversendai, Emirates Steel will supply premium steel beams for the construction of the ski village

This futuristic PIF-Backed stadium is set to open in 2032

A subsidiary of Saudi Arabia’s Public Investment Fund (PIF) has unveiled designs of Riyadh’s New Murabba Stadium.

RENEWABLE ENERGY

China’s Sungrow inks deal with Saudi’s Algihaz for energy storage project

The project, expected to be delivered this year, will improve the stability and reliability of Saudi Arabia’s power grid.

China

China willing to strengthen trade with Saudi, commerce minister says

Yasir Al Rumayyan met with high-level officials in China including the minister of commerce and Beijing’s mayor

Saudi Arabia to host inaugural Olympic Esports Games, IOC says

Saudi Arabia to host inaugural Olympic Esports Games, IOC says

The agreement between the parties will be ratified at the IOC Session, which will be held on the eve of the Olympic Games in Paris

Job search LinkedIn

7 ways to use LinkedIn’s AI tools to help in job hunting

LinkedIn has a suite of tools that leverage AI to aide job seekers and recruiters make the perfect match

Saudia passenger’s jumps by 24% in H1 2024

Saudia carries record 9 million passengers in H1 2024

The carrier operates a fleet of 144 aircraft, connecting Saudi Arabia with more than 100 destinations across four continents

Diriyah awards $2bn contract for mixed-use district

Saudi Arabia’s Diriyah awards $2bn contract for mixed-use district

The contract was awarded to a joint venture to build educational institutions, cultural venues, offices and a luxury hotel

DAMAC to invest $1bn in data centres, expand in Saudi

DAMAC Group ramps up AI investments with $50m Anthropic deal

The investments are part of the conglomerate’s broader strategy to advance digital infrastructure and support the tech transitions

Saudi Arabia places order for four Airbus A330 MRTTs

Saudi Arabia turns to Airbus for four new military aircraft

The order includes a logistics support package with spare parts, training services and service support for the new four aircraft

Saudi Arabia raises $12.35bn from Aramco’s share sale

Saudi Arabia raises $12bn from Aramco’s share sale

The government sold a 0.64 per cent stake in Aramco last month, with an additional 154 million shares available for stabilising manager Merrill Lynch

Aramco - oil supply to China

Saudi crude oil supply to China to rebound in August, regain market share

Saudi exports to China had tumbled in June, to 1.12 million barrels per day, the lowest since March 2020

Riyadh Air, Delta Air Lines unveil strategic partnership

Riyadh Air partners with Delta Air Lines to expand global network

The deal includes interline and codeshare connectivity, enhanced loyalty programs, improved customer experience and digital transformation initiatives

Riyadh named among top 15 cities in Savills growth hubs index GettyImages

Riyadh ranks among the top 15 fastest-developing cities, shows index

Riyadh is the only non-Asian city featured in Savills Growth Hubs Index and its potential is linked to a forecasted 26 per cent population growth

Agthia expands footprint with new Saudi facility

Agthia expands footprint with Dhs90m manufacturing facility in Saudi Arabia

The new facility underscores the group’s strategic vision to tap into the vast growth opportunities in the GCC region’s largest market

Saudi Aramco returns to debt market with three-tranche dollar bond sale

Saudi Aramco returns to debt market with three-tranche dollar bond sale

GCC companies and governments have rushed to tap debt markets since the start of the year to take advantage of recent falls in global interest rate

New 24 Fintech summit to debut in Riyadh this September

The 24 Fintech summit will feature more than 200 expert speakers who will address pressing finance industry issues.

Saudi-backed EV maker Lucid beats quarterly deliveries estimates

Lucid delivered 2,394 vehicles in the quarter ended June 30, above estimates of 1,940 units.

Saudi's PIF boosts stake in Saudi Re with $114m investment

Saudi’s PIF boosts stake in Saudi Re with $114m investment

Saudi Re plans to raise its capital by SAR267.3m ($71m) through this strategic subscription agreement with the kingdom’s sovereign fund

Saudi oil minister

Saudi Arabia announces discovery of seven oil, gas deposits

Saudi Energy Minister Prince Abdulaziz bin Salman confirmed the discovery by state oil firm Saudi Aramco

Saudi Arabia’s PIF swings to $36.8bn profit in 2023

Saudi Arabia’s wealth fund PIF swings to $36.8bn profit in 2023

Under Vision 2030, Saudi Arabia has poured hundreds of billions of dollars through the fund into projects, including NEOM

Staycations rise, visitors staying longer in Middle East, reveals travel report

Staycations rise, visitors staying longer in Middle East, reveals travel report

The emphasis on regional travel, unique experiences and budget-friendly options like cruises are set to shape the future of tourism in 2024 and beyond

Saudi Aramco signs $25bn in contracts for gas expansion

Saudi Aramco awards $25bn in contracts for gas expansion

The development of the Jafurah field is expected to cost $100bn and boost the state energy firm’s gas production by more than 60 per cent by 2030

Riyadh Air soars on Paris runway, unveils exclusive fashion line

Riyadh Air soars on Paris runway, unveils exclusive fashion collection

Saudi fashion designer Ashi has taken inspiration from the 1950s ‘golden era’ of aviation to create the fashion collection that will be worn by staff, including cabin crew

Saudi Arabia: ACWA Power, Badeel, SAPCO sign PPAs for major solar projects

The development of Saudi Arabia’s renewable energy sector is a core objective of Vision 2030, the kingdom’s blueprint for a modern, diversified economy

UAE raises $1.5bn from 10-year bonds

UAE returns to bond market, raising $1.5bn in 10-year bonds

The debt is rated Aa2, the third-highest investment grade, by Moody’s and one step lower at AA- by Fitch Ratings

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

The banking group said it was conducting studies on the potential expansion and that these were in line with its strategy envisioning potential investments in the region

Saudi Arabia’s construction output value to hit $181.5bn by 2028

Saudi Arabia’s construction output value to hit $181.5bn by 2028, Knight Frank says

The ongoing transformation is being driven by Vision 2030, which aims to deliver more than 660,000 residential units and over 320,000 hotel keys