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Saudi's King Salman appoints new central bank governor

Saudi’s King Salman appoints new central bank governor

Former governor, Dr Fahd Al-Mubarak, takes on the role of adviser at the royal court

Saudi Omani conference Photo courtesy saudi press agency SPA

Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn

The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh

Saudi's PIF partners with AeroFarms to build indoor vertical farms across MENA

Saudi’s PIF partners with AeroFarms to build indoor vertical farms across MENA

The first farm, to be built in Saudi Arabia, will have an annual production capacity of up to 1.1 million kgs of crops

Saudi Arabia wins right to host AFC Asian Cup 2027

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

Saudi Arabia’s economy grows by 8.7% in 2022

The kingdom’s real GDP grew by 5.4 per cent during the fourth quarter of 2022

UAE's Pure Harvest enters strategic partnership with Saudi's NADEC

Pure Harvest enters strategic partnership with Saudi’s Nadec

The two entities aim to assist in the transition towards greater food security and water conservation in the kingdom and GCC

SEVEN acquires equity stake in AMC's cinema business in KSA

SEVEN acquires AMC’s equity stake in cinema business in Saudi Arabia

SEVEN will retain intellectual property rights and the AMC Cinemas brand name in the Saudi market

Saudi Arabia announces new $266m entertainment destination

The destination will feature an e-karting and a 10-lane futuristic bowling experience, a 12-hole indoor adventure golf course, and a 10-screen cinema

Aramco's venture arm invests $14m in Japanese drone tech firm

Aramco’s venture capital arm invests $14m in Japanese drone tech firm

Terra Drone is the first Asian startup to raise funding from Wa’ed Ventures

Saudi Arabia scraps restrictions on Hajj pilgrim numbers, age limit

Saudi prepares to serve two million pilgrims during Hajj season

Hajj is one of the five pillars of Islam, obligatory once in a lifetime for all who are able

Venture debt funding in MENA crosses $260m in 2022

Venture debt funding in MENA crosses $260m in 2022

Fintech accounted for 61 per cent of total funding between 2018 and 2022

Yotel to open hotel in Neom's Oxagon by 2025

London-based Yotel announces first hotel in NEOM’s Oxagon in Saudi Arabia

The new announcement reflects Yotel’s plans to grow both management and franchised projects in the Middle East region, as part of its larger strategy to reach 50 hotels by 2025

CEO of TAM, abdullah-yusuf.png

Saudi management consultancy TAM receives CMA approval for IPO

The consultancy will list shares on Tadawul’s Nomu-Parallel Market

Lazard

Lazard names key Aramco IPO banker as head of MENA advisory

Wassim Al-Khatib will also be the CEO of Lazard Saudi Arabia

Mubadala Investment Capital invests in fintech Tabby's Series C round

Mubadala Investment Capital invests in fintech Tabby’s Series C round

The funds will be used to expand Tabby’s product line and support the company’s growing operations

Smartworld

UAE’s etisalat by e& named strongest Middle Eastern brand

Tech giant Amazon regained top spot from Apple to become the world’s most valuable brand

Jadwa divests stake in Luberef

Davos 2023: Saudi Arabia open to talks on trade in currencies besides dollar

The world’s largest oil exporter is seeking to strengthen its relations with crucial trade partners

Saudi Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Events Investment Fund

Saudi Crown Prince launches Events Investment Fund, aims to boost culture, tourism, sports sectors

The fund will conceptualise, finance and oversee development of more than 35 venues by 2030, with the aim of delivering its first asset by 2023

Saudi Arabia confident about attracting FDI

Saudi Arabia confident about attracting more foreign investors, says minister

The Saudi government has made more than 700 regulatory changes as it seeks to attract investors

Leap saudi

Saudi to host second edition of global tech event Leap in February

The Riyadh Front Exhibition & Conference Centre is set to host an expected 100,000 tech innovators from February 6-9

Saudi inflation

Saudi inflation hits 3.3% in December, highest in 18 months

Prices for housing, water, electricity, gas and other fuels in the kingdom rose an annual 5.8 per cent, while food and beverages were up 4.2 per cent

Saudi Arabia's PIF and Maaden sign JV

Saudi Arabia’s Public Investment Fund and Ma’aden to set up JV

The joint-venture company aims to initially invest in iron ore, copper, nickel, and lithium as a non-operating partner taking minority equity positions

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank to raise capital in Credit Suisse by $4.1bn

Saudi National Bank was an anchor investor in Credit Suisse’s capital raise and now holds 9.9 per cent in the firm

Saudi wealth fund joins $930m pre-IPO bet on Korean anime giant

Saudi Arabia has been beefing up investment and business ties with Korean companies, becoming a major shareholder of NCSoft Corp as well as Tokyo-listed Nexon Co

Red Sea project render

Saudi Arabia: The Red Sea to join exclusive Serandipians’ luxury network

Upon completion in 2030, The Red Sea will comprise 50 resorts, offering up to 8,000 hotel rooms and over 1,000 residential properties across 22 islands and six inland sites

Saudia

Saudia opens airport operations building in Jeddah

The mini terminal includes artificial intelligence-powered self-boarding kiosks and five luggage carousels as well as 15 meeting rooms for pre-flight cabin crew briefings

Olam Group plans to list agribusiness unit in Saudi Arabia

Olam Group plans to list agribusiness unit in Saudi Arabia

The proposed initial public offering of Olam Agri in Saudi Arabia would be the first listing of a global company in the country

Investcorp

Bahrain’s Investcorp set to invest $1bn in GCC real estate over five years

Investments worth $100m are under consideration in Saudi Arabia

Hajj pilgrim restrictions lifted

Saudi Arabia scraps restrictions on Hajj pilgrim numbers, age limit

People visiting the kingdom with an Umrah visa can now visit any city in Saudi Arabia, and any visitor to the country will be allowed to perform Umrah at any time

PIF adds Diriyah project to its portfolio

Saudi Arabia’s PIF announces Diriyah as its fifth giga project

The sovereign wealth fund’s other giga projects include NEOM, Red Sea, Qiddiya and Roshn