The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals
Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day
Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023
It is being designed by architecture firm, ACPV Architects Antonio Citterio Patricia Viel
The airline will be focused on enabling travel for tourists, residents and commercial partners to and from NEOM
It’s the first of many hospitals planned in Saudi Arabia and regionally, as part of OSHCO’s aim to grow its healthcare investment portfolio
The PLAY-DOH centres will open in eight locations in Saudi Arabia over the next 10 years
The competition remains stiff in the coming years, especially for emerging brands
The sighting of the moon signifies the start and the end of Ramadan, the ninth month of the Islamic calendar
The kingdom is exercising concerted efforts to infuse a digital-first approach
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
Yazeed Saleh Aldemaigi, deputy of strategy and international affairs at Capital Market Authority didn’t give a time frame for when the framework could be introduced
The facility will help finance the growing demand for bringing the buy now, pay later products in the GCC while continuing its growth across new verticals
Residents in Riyadh and Jeddah can now use the marketplace to sell their used laptops, mobile phones, tablets and smartwatches
The strategy aligns with the fund’s aim to support the private sector in increasing its contribution to GDP by up to 65 per cent by 2030
The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period
Riyadh will be the company’s operational hub, and will connect the Saudi capital to over 100 destinations globally
The announcement is the latest in a series of initiatives that seek to attract visitors coming from GCC countries
The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues
The real estate arm of Saudi conglomerate, Rawabi Holding, is looking to be part of the solution on climate change
The company plans to build additional sites in other rapidly growing data centre markets including Nairobi, Casablanca and Lagos
Aamer Sheikh, PepsiCo CEO Middle East, shares how the company’s women empowerment platform aims to support one million Saudi women by 2030
Domestic deals represented 34 per cent of the total M&A value at $28.4bn while outbound deals led in value at $40.1bn
Prices for US customers were left unchanged
The project marks ACWA Power’s entry into the Central Asian country with an initial investment of $1.5bn
The first wave of supported projects, which will have strategic impact on several economic sectors, will benefit from investments worth SAR192.4bn
The Gulf states are accelerating the decarbonisation of their energy sectors by investing heavily in renewable energy
SABIC, which is majority-owned by Saudi Aramco, said average sale prices dropped 9 per cent from the previous quarter.
Emkan Capital’s technology fund will invest in pre-seed and seed-stage companies with high-growth potential