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Saudi Arabia's PIF backs emkan capital

Saudi wealth fund unit backs Emkan Capital’s technology fund

Emkan Capital’s technology fund will invest in pre-seed and seed-stage companies with high-growth potential

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

Netflix

Netflix launches programme to upskill television producers in Saudi

The seven-week programme will be available exclusively through the University of Southern California

Oman, Israel

Oman opens airspace to all airlines

The sultanate’s historic decision is expected to shorten flights to some Asian destinations by more than two hours

Saudi

Saudi oil revenue drop rounds off year of $326bn windfall

The kingdom wants to use its energy windfall to accelerate projects that contribute to weaning it off a reliance on oil

Almarai

Saudi’s Almarai completes acquisition of International Dairy and Juice for $68m

The purchase was funded from Almarai’s internal cash flows

China grants Saudi Arabia Approved Destination Status

Saudi launches company to develop world’s largest downtown in Riyadh

The new Murabba project will feature a museum, a technology and design university, a multipurpose immersive theater, and more than 80 entertainment and culture venues

Saudi Arabia to host FIFA Club World Cup in 2023

Saudi Arabia to host FIFA Club World Cup in 2023

The tournament will be held from December 12-22

ADNOC delivers first Middle East LNG cargo to Germany

The shipment of 137,000 cubic meters of LNG can produce enough electricity to supply approximately a quarter million German homes for a year

Saudi’s PIF invests $1.3bn in four local construction companies

The transactions are part of the fund’s strategy to enable the kingdom’s strategic sectors

PIF acquires 30 % stake in Saudi tabreed-800x533-1

Public Investment Fund acquires 30% stake in Saudi Tabreed

Saudi Tabreed currently manages 779,000 tonnes of refrigeration (TR) via contracts with major companies in Saudi Arabia

Saudi to send its first female astronaut to space this year

Saudi to send its first female astronaut to space this year

Rayyanah Barnawi and Ali Al Qarni will travel to the International Space Station during the second quarter of 2023

PIF second green bond issue _ pexels-pixabay-356036

Saudi Arabia’s PIF raises $5.5bn from sale of second green bond

The fund will allocate an amount equalling the net proceeds of the issuance to fund eligible green projects in line with its Green Finance Framework

KPMG launces CoE for metaverse at LEAP 2023

KPMG launches Centre of Excellence for metaverse and digital twins at LEAP23

KPMG has allocated a dedicated co-investment fund for metaverse use-cases in Saudi Arabia to work together with public and private partners on expediting the technology for practical use

Nana

Alwaleed’s Kingdom Holding leads $133m funding for Saudi delivery app Nana

Started in 2016, Nana raised $18m from investors including venture capital fund STV and Middle East Venture Partners

Aramco’s venture capital arm expands investment fund to $500m

Aramco’s venture capital arm expands investment fund to $500m

Aramco has allocated $300m in additional funds to Wa’ed Ventures

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

Burjeel Holding enters Saudi market via agreement to establish 60 clinics

The ADX-listed healthcare services provider signed a MoU with Leejam Sports Company to create a joint venture

Oil

Oil extends gain as Saudi Arabia bets on demand rebound in Asia

Saudi Aramco increased most of its prices for crude that will be shipped to its main market of Asia in March

Leap saudi

LEAP23: Second edition of technology event opens today in Riyadh

The Riyadh Front Exhibition & Conference Centre is set to host around 100,000 tech innovators

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

vertical farms

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

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

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