#Saudi Arabia

americana courtesy WAM

KFC operator Americana doubles UAE retail offer for IPO

The subscription periods remain unchanged and will continue until November 21, for individuals and other investors in the UAE and Saudi Arabia

UAE President meets Saudi Crown Prince on sidelines of G20 summit

The two leaders discussed relations between the UAE and Saudi Arabia

Alula

Saudi’s Royal Commission for AlUla enters the metaverse

RCU has created a 3D model of Hegra’s Tomb of Lihyan, son of Kuza, a UNESCO World Heritage site

PIF partners with Blackrock to explore investments in Saudi Arabia, Middle East

The two entities will collaborate to attract regional and international investors, and boost foreign direct investment into Saudi Arabia

Funding for green-hydrogen plant at Saudi Arabia’s Neom almost done

Funding for green-hydrogen plant at Saudi Arabia’s Neom almost done

Construction of the $5bn plant in the north-west of the kingdom has started

Saudi PIF sells 10% stake in Tadawul

Saudi Arabia’s PIF completes sale of part of its stake in Tadawul

The offering size was SAR2.3bn, making it the second largest accelerated bookbuild offering to ever take place in the Saudi market and the GCC region

Almosafer

Saudi’s Almosafer partners with Visit Oman to boost sultanate’s inbound tourism

Almosafer’s consumer business will run a 360 marketing campaign throughout 2023 to promote Oman to its customer base in Saudi Arabia, Kuwait and the UAE

Finastra's Nour Sabri on baas in Saudi Arabia

Insights: How BaaS can transform consumer financing in Saudi Arabia

While securing a bank loan that suits individual needs can be time-consuming and often unsuccessful, banking as a service may be the solution

Saudi Arabia GDP growth rises 8.6% in Q3 2022 Riyadh-800x533-1

Saudi Arabia’s real GDP grows by 8.6% in Q3 2022

Domestically, real non-oil GDP growth expanded by 5.9 per cent, following six consecutive quarters of growth

Volocopter-NEOM-OXAGON_rendering-scaled

NEOM invests $175m in urban air mobility provider Volocopter

Electric air taxis are a key component of NEOM’s strategy to implement a sustainable and seamlessly connected multi-modal mobility system totally powered by renewable energy

Mobily

Saudi telecom operator Mobily successfully integrates 5G frequencies with Nokia

The fastest download speed in the Middle East was accomplished after trying to merge three frequencies within the mid-range spectral range

Saudi Crown Prince launches kingdom’s first electric vehicle brand

The EV brand, Ceer, will attract over $150m of foreign direct investment, and create up to 30,000 direct and indirect jobs

Agility ALP_Riyadh_2022

Kuwait’s Agility invests $163m to build Jeddah Logistics Park in Saudi Arabia

The park will serve international and local customers in the retail, consumer goods, technology, automotive, energy and e-commerce sectors

Careem introduces inter-city rides from Saudi to Qatar

Careem introduces inter-city rides from Saudi to Qatar for FIFA World Cup

City-to-city rides are available to those attending multiple matches

CBUAE launches new website

UAE Central Bank raises interest rate by 75 basis points

The US Federal Reserve upped its policy rate by three-quarters of a percentage point for the fourth consecutive time

Aramco, IBM aim to establish innovation hub in Saudi Arabia

The collaboration aims to support the kingdom’s economic growth, leveraging emerging technologies in hybrid cloud, AI, and quantum computing

LuLu opens new Hypermarket in Saudi Arabia's Saihat

Lulu opens new hypermarket in Saudi Arabia’s Saihat

Between 2020 and 2023, Lulu Group is planning to open 91 hypermarkets as part of its $2.9bn investment in its retail network

Saudi’s KHC, Prince Alwaleed’s private office are Twitter’s second largest investor after Elon Musk

Elon Musk has also said that Twitter’s verification process is ‘being revamped right now’

Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company photograph (1)

How Thakher Development Company aims to support Saudi Arabia’s tourism goals

Engineer Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company shares how it is supporting Vision 2030, its key milestones and the company’s future plans

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

Amanat buys 60% stake in HDC

UAE’s Amanat acquires 60% stake in Human Development Company for Dhs215.3m

Based in Saudia Arabia, Human Development Company provides educational, medical and rehabilitation services

Dar Al Arkan_3d printed villa

Saudi Arabia’s Dar Al Arkan completes first 3D printed villa at Shams Al Riyadh

Unlike traditional home-building methods, 3DCP cuts the construction time by more than half, is more flexible and requires less manpower since it takes only three workers to build one house

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar inaugurates new office in Saudi Arabia to expand presence

Masdar aims to add to existing projects in the kingdom, including a 400MW wind farm and a 300MW solar power plant

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent

Saudi Arabia sets up carbon market firm to support net-zero goal

The Public Investment Fund said it started the Regional Voluntary Carbon Market Company with Saudi Tadawul Group

Saudi Arabia signs 6 MoUs courtesy Saudi Press Agency

Saudi Arabia signs six MoUs on opening day of 6th Future Investment Initiative

The agreements will support the efforts and objectives of the Ministry of Investment to attract investments, enable sectors to grow and facilitate access to investment opportunities

Saudi Telecom

Saudi’s PIF offers to buy stake in $5.8bn STC towers unit

The PIF made a non-binding offer to Saudi Telecom Co. for 51 per cent of Telecommunications Towers Company

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

JPMorgan set to hire 20 more bankers in Saudi Arabia expansion

The US bank will have doubled the size of its Saudi operations by the end of the year, compared to 2016

Saudi Arabia’s PIF launches company to develop halal production industry

The company aims to localise knowledge, technology and innovation for the development of halal products, including foods, cosmetics, and pharmaceuticals

Saudi Arabia launches supply chain initiative to beckon $10.6bn of investments

The initiative will contribute to overcoming challenges faced by global supply chains