The Gulf state expects to post a fiscal deficit of SAR118bn, wider than the SAR79bn projected in the 2024 budget statement last December
The $63bn project is one of the Public Investment Fund’s giant construction efforts aimed at boosting economic growth
The platform addresses common challenges in the M&A process, such as high costs and fragmented service models, streamlined, and cost-effective alternative
The deal, which is expected to be completed in Q1 2025, is subject to regulatory and corporate approvals
The initiative is part of the Tourism Investment Enabler Program that is aimed at making Saudi Arabia a global tourism powerhouse
Huawei Cloud’s low latency of 25 milliseconds across Saudi Arabia demonstrates its commitment to delivering high-performance AI services
The ’24 Fintech event, taking place from September 3-5 in Riyadh, is set to be an essential gathering for industry leaders, investors, and innovators driving the future of finance
The updated law fosters a level playing field for both domestic and international investors
The government is considering helping pay off dues to banks, lending to the firm, and even potentially increasing its stake
The kingdom’s capital city Riyadh will host eight stadiums, including the new King Salman Stadium, which will accommodate over 92,000 spectators
The kingdom’s total public debt stood at SAR1.149tn at the end of June, up from SAR1.05tn at the end of last year
The kingdom’s GDP decreased by 1.7 per cent in Q1 2024, as cuts to oil production have continued to weigh on the country’s economy.
Covering more than 660,000 square meters, the stadium will serve as the home ground for Saudi Arabia’s national soccer team
The contract was awarded to a joint venture to build educational institutions, cultural venues, offices and a luxury hotel
Under Vision 2030, Saudi Arabia has poured hundreds of billions of dollars through the fund into projects, including NEOM
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
Nasser has become highly popular at Aramco, by promoting a decentralised culture and spending time with both leaders and workers, as per analysts tracking the oil giant’s growth
The kingdom is turning to the debt market to find alternative funding sources to cover an anticipated fiscal shortfall of about $21bn this year
Neo Space Group will invest in local and international assets and capabilities, as well as venture capital opportunities
The strategy will see the company increase the number of its 5G network sites in the country to more than 7,000
The move is in line with the strategy to establish an entertainment, sports and culture powerhouse in the kingdom
The partnership seeks to implement and activate joint initiatives to advance research, deliver innovation and enhance the visitor experience
Oil revenues reached SAR181.9bn, while total revenues were SAR293.4bn as non-oil revenues edged higher, although oil still dominates
John Pagano tells Gulf Business how “nature and the environment”, the most valuable assets on the company’s balance sheet, differentiate RSG from other destinations
The facility will support NEOM’s short-term financing requirements as it advances the development of major projects such as THE LINE
Saudi Arabia is accelerating efforts to diversify its economy away from oil under a plan known as Vision 2030
Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform
The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions
The strategy, which envisions investments in supply chain and tech capabilities, will be financed from the company’s operating cash flow
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