#Vision 2030

Ajay Banga, president of the World Bank Group - COP28

World Bank chief Ajay Banga warns of economic headwinds for global economy

Geopolitical tensions heightened by the Middle East crisis pose the biggest threat to the world economy

ARAMCO HYUNDAI GAS FIELD DEAL

Saudi Aramco, Hyundai to set up $2.4bn gas plant in Jafurah

Jafurah is Saudi’s largest unconventional non-oil associated gas field, with reserves estimated at 200 trillion cubic feet

new Abha Airport Terminal masterplan launched

Saudi Crown Prince unveils master plan for new Abha International Airport

Expected to handle more than 90,000 flights per year, the new airport will feature 20 gates, along with 41 check-in counters and seven self-service check-in kiosks

RED SEA-GUESTS

Red Sea destination welcomes its first guests, launches Saudi’s first sea plane company

A delegation of Saudi ministers and leaders were the first guests of the destination

Saudi Arabia’s PIF, SEC set up EV infrastructure company

Saudi Arabia’s PIF, SEC set up EV infrastructure company

The wealth fund will hold a 75 per cent shareholding in the company, while the SEC will own the remaining 25 per cent stake

Saudi Arabia launches bid to host FIFA World Cup 2034

Saudi Arabia launches bid to host FIFA World Cup 2034

The kingdom has qualified for the iconic tournament on six occasions since 1994 – most recently in 2022

Saudi unemployment plunges to 4.9% in Q2 2023

Saudi unemployment plunges to 4.9% in Q2 2023

The unemployment rate for female citizens fell to 15.7 per cent, from 19.3 per cent a year ago

Saudi Arabia’s SAL Logistics IPO could fetch $678m

Saudi Arabia’s SAL Logistics seeks to raise $678m from IPO

The logistics firm set the price range at SAR98 and SAR106 per share, implying a market capitalisation on listing of as much as SAR8.5bn

Amer Kharbush shines the spotlight on ROSHN’s design philosophy

Exclusive: Amer Kharbush shines the spotlight on ROSHN’s design philosophy

The group’s head of programme and project management tells Gulf Business that MARAFY is an example of the company’s approach to integrated community development

Tanmiah, Ukraine’s MHP invest in poultry value chain

Ukraine’s MHP, Tanmiah invest in Saudi Arabia’s poultry value chain

The partnership is expected to significantly boost food security and self-sufficiency in poultry products in Saudi Arabia

Huawei opens cloud data centre in Riyadh

Huawei Technologies opens cloud data centre in Riyadh

The data centre will store data locally in line with Saudi Arabia’s data regulations

Saudi Arabia economy growth

Saudi Arabia unveils master plan for logistics centres

The kingdom will build 59 logistics centres with a total area of more than 100 million square meters

Cityscape Global Saudi to debut in September

Cityscape Global Saudi to debut in September

The four-day programme will host master developers, exclusive showcases of giga projects, as well as B2B real estate services

Saudi arabia investment law

Energy Capital announces first close of $150m fund

The fund aims to play a pivotal role in helping achieve the ambitious industrial development agenda of Saudi Arabia as it transforms its economy

Red Sea Global

Red Sea Global awards contracts worth $2.4bn to Saudi Airlines Catering

The partnership is expected to create more than 500 new jobs for local talent across the kingdom

Niven Al-Khoury on diabetes management strategies to be effective

Insights: How Saudi Arabia is making strides in diabetes control and prevention

There are an estimated 4.2 million patients suffering from diabetes in Saudi Arabia, out of which 1.8 million are undiagnosed

plant based meat Thryve

IFFCO’s 100% plant-based meat Thryve set to debut in Saudi Arabia

Plant-based meat is increasingly being considered as an alternative to meat products in order to reduce the global carbon footprint of existing food systems

Saudi Arabia sports clubs’ privatisation plan

Saudi Arabia kicks off sports clubs privatisation project

The project seeks to raise Saudi Pro League’s commercial revenues from SAR450m in 2022 to over SAR1.8bn annually

saudi astronauts

Saudi astronauts depart space station, to splashdown in Atlantic Ocean

The Saudi Space Commission announced the successful separation of the SpaceX spacecraft carrying the two Saudi astronauts from the ISS

Red Sea Coastline. Image Credit: redseaglobal.com

Red Sea joins Virtuoso’s portfolio as a travel partner

The destination hopes to be the gold standard for regenerative and sustainable tourism when it opens its doors to travellers later in 2023

Cityscape Global Saudi Arabia Edition

Cityscape Global to debut in Saudi Arabia this year

Over 180,000 domestic and international attendees will attend the debut edition of Cityscape Global

Saudi Arabia tranfer Aramco stake

Saudi Arabia transfers 4% Aramco stake to PIF

The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares

Fitch upgrades Saudi Arabia.

Fitch Ratings raises Saudi Arabia’s outlook on strong fiscal buffers

The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments

S&P Global, Moody’s raise Saudi Arabia rating on reform agenda

Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher

Saudi’s Mawani, Jeddah Chamber to jointly build $267m integrated logistics park

Mawani said the logistics park is expected to further boost its role as a key player in the national transportation ecosystem

AFC Asian Cup

Saudi Arabia wins rights to host AFC Asian Cup 2027

Saudi Arabia has won the prestigious AFC Asian Cup championship on three occasions: 1984, 1988, and 1996

Saudi Arabia announces 5 mining exploration opportunities

Saudi Arabia announces five new mining exploration opportunities

The kingdom is looking to leverage an estimated $1.3tn worth of vastly underexplored metals and minerals to support its sustainable development goals and the clean energy transition

Saudi Arabia introduces new tourism law

Saudi Arabia’s new tourism law aims to boost business, investment and innovation

Saudi Arabia recently issued the Regional Tourism Development Councils Regulation to boost tourism in areas like NEOM, the Red Sea and Diriyah Gate

FOO Fintech

Fintech solution provider FOO expands operations into Saudi Arabia

FOO works with banks, fintech companies and retailers across the MENA region to provide digital products that enhance business models and customer experience

Saudi Aramco

Saudi Aramco and Aveva to partner to drive sustainability through digitalisation

Partnership would leverage digital transformation to support Saudi Arabia’s energy transition and expand its knowledge economy