#Vision 2030

LME to list Jeddah port as a delivery point

LME to list Saudi Arabia’s Jeddah port as delivery point for copper, zinc

The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions

Almarai to invest over SAR18bn under five-year plan

Saudi Arabia’s Almarai to invest over SAR18bn under five-year plan

The strategy, which envisions investments in supply chain and tech capabilities, will be financed from the company’s operating cash flow

Saudi Arabia’s real GDP contracts 0.8% in 2023

Saudi Arabia’s real GDP shrinks 0.8% in 2023, oil sector weighs

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

Saudi Arabia transfers 8% Aramco stake to PIF

Saudi Arabia doubles sovereign fund’s stake in Aramco

The fund has held a 4 per cent stake in Aramco since 2022 and indirectly holds another 4 per cent that was transferred last year to Sanabil

AWS to invest $5.3 bn in Saudi Arabia, open data centres

AWS unveils $5.3bn investment to advance Saudi Arabia’s cloud infrastructure

The new region will consist of three availability zones at launch, adding to the existing 105 zones across 33 geographic regions globally

Building a Saudi Arabian Silicon Oasis

PIF-owned Alat aims to create a world-class manufacturing electronics hub in the heart of Saudi Arabia

How LEAP 2024 aligns with Saudi Arabia’s Vision 2030

Tahaluf’s CEO shines the spotlight on LEAP 2024

Michael Champion says the move to a larger venue for LEAP in 2024, reflects the event’s commitment to accommodate more innovative technologies, digital entrepreneurs and tech startups

Raffles Hotels & Resorts to debut at NEOM’s Trojena

Raffles Hotels & Resorts set to debut on this NEOM island

Raffles Trojena, the newest hospitality brand to partner with NEOM Hotel Division, will be located in the Discover cluster

saudi arabia - Vision 2030 - IMF

Saudi finance minister expects above 5% non-oil growth

Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent

ROSHN’s group CEO on transforming Saudi living

ROSHN CEO David Grover on transforming Saudi’s housing sector

The group GCEO tells us that ROSHN is a catalyst for economic growth and diversification in addition to raising homeownership rates in the country

How GCC sovereign funds are accelerating growth

Why GCC wealth funds are becoming engines of regional growth

Sovereign funds in the GCC region are key to their respective governments’ national development plans and contribute to deploying national wealth in strategic sectors of interest

Saudi Arabia posts 2023 budget deficit of $22bn - capex

Saudi Arabia posts 2023 budget deficit of $22bn

The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024

Red Sea Global gets SAR2bn financing from Riyad Bank

Saudi Arabia’s Red Sea Global secures SAR2bn debt financing

The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort

Saudi Aramco lines up banks for potential share sale

Saudi Arabia poised for new Aramco share sale: Report

The government has lined up Citigroup, Goldman Sachs and HSBC for the sale, which could take place in the second or third quarter of this year

neom - xaynor

NEOM launches members-only club Xaynor

With its untouched seafront location, Xaynor will offer club members an opportunity to escape the hustle and bustle of city life, and recharge in a secluded, exclusive environment

Saudi Arabia visitors cross 100 million

Saudi Arabia visited by 100 million tourists in 2023

The kingdom aims to attract 150 million tourists by 2030, with 80 million domestic and 70 million international tourists

Saudia witnesses 21% yearly surge in passengers

Saudia witnesses 21% yearly surge in passengers

The state-owned carrier operated 176,300 flights while transit flights registered 77 per cent growth compared to the year 2019

ROSHN group CEO David Grover

PIF-owned ROSHN Group’s David Grover shares the company’s ambitious plans

PIF-backed ROSHN’s group CEO tells us how the company is delivering on Saudi Vision 2030’s goals by building over 400,000 homes by 2030

Saudi Arabia unveils new premium residency scheme

How Saudi Arabia seeks to attract foreign talent, investments

The five new premium residency products offer a wide range of benefits to holders, including the ability to conduct business and own real estate properties

Saudi Arabia leads MENA venture capital market

Saudi Arabia secures $1.4bn in 2023, leads MENA VC fundraising

The kingdom’s venture capital market was boosted by the government’s focus on innovation, a dedicated unicorn project, and investments from sovereign funds

NEOM, Saudi Energy Ministry sign energy cooperation deal

NEOM, Saudi Energy Ministry sign MoU on cooperation in energy fields

The agreement outlines the collaboration between the two entities to develop modern technologies in the energy sector

Saudi Arabia e visa

Saudi wealth fund PIF splashes $31.6bn in 2023

Big-ticket purchases included $4.9bn for US gaming company Scopely, $3.6bn to buy Standard Chartered’s aircraft leasing division and $3.3bn for steelmaker Hadeed

Saudi Arabia’s NEOM launches lifestyle community Norlana

Saudi Arabia’s NEOM unveils plans for lifestyle community Norlana

Located on the coastline of the Gulf of Aqaba, the lifestyle community will have a 120-berth marina that will serve as an international hub for superyachts

Saudi’s Mawani inks four contracts worth SAR1bn

Saudi Arabia’s Mawani signs four contracts worth SAR1bn

The authority signed the contracts with Zamil Marine Services and Naghi Marine Company to provide diverse maritime services

NEOM - UTAMO

Saudi’s Neom announces new destination for art and entertainment

Set to be built along the Gulf of Aqaba, Utamo, is crafted as an immersive destination for art and entertainment

NEOM launches new food company Topian

Saudi Arabia’s NEOM unveils new food company Topian

The company will spearhead the kingdom’s efforts to ensure food security, mitigate climate change and achieve net-zero emissions by 2060

QIDDIYA CITY

Qiddiya City megaproject brand unveiled by Saudi Crown Prince

Qiddiya City expects to attract an anticipated 48 million visits per year with its never-built-before array of world-class attractions and venues

Saudi Arabia allots $100m for Sudan humanitarian crisis

Saudi Arabia approves 2024 state budget, forecasts SAR79bn deficit

The budget estimates expenditures of SAR1.3tn in 2024 and total revenues of SAR1.2tn

Riyadh Season

Riyadh Season attracts 2 million visitors in opening weeks

The Saudi Tourism authorities hope to match visitor numbers to previous years which saw between 12 to 15 million tourists visit the annual festival

Saudi Arabia - Riyadh Image Getty Images

Saudi Arabia to enforce January deadline to move regional HQs to Riyadh

Some companies have raised concerns over the regulatory framework, including taxation