The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue
TMF Group will open a new office in Riyadh, and build on the existing Saudi clients
The merged entity will implement a plan to grow the combined commercial businesses, drive greater fan engagement and accelerate growth initiatives
It will operate thrice-weekly nonstop services from Riyadh and Jeddah
The scope of the agreement will cover elements of design, finance, build, operations and maintenance of the housing communities
Partanna, which uses recycled ocean water brine in its carbon-negative concrete, will supply Red Sea Global with 11,000 carbon-negative pavers initially for its landscape nursery
The project seeks to raise Saudi Pro League’s commercial revenues from SAR450m in 2022 to over SAR1.8bn annually
The 23-nation group offered no additional action to buttress the market, but pledged to maintain their existing oil production cuts until the end of 2024
The airline describes it as a “perfect blend of cutting-edge technology and timeless elegance”
The Saudi Industrial Development Fund supported over 100 beneficiaries through the industrial fund’s academic and advisory programmes
The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering
The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital
This comes as part of the firm’s broader commitment to the region to create 6,000 new jobs and continued investment in digital technology and ESG
By mid-2024, Neom will be making hydrogen for vehicles such as buses and trucks, Dave Edmondson, CEO of Neom Green Hydrogen, said in Dubai
The company will continue to pursue the IPO of Olam Agri at the next practical window without providing any approximate time frame
These developments follow the $32m Series A fundraise and partnership with Visa aimed at strengthening its presence in the Saudi market
The milling company said big investors placed orders worth SAR68.8bn, almost 69 times more than was available to them
The Saudi SEZs offer competitive corporate tax rates, exemption from customs duties on imports, production inputs, machinery and raw materials, and 100 per cent foreign ownership of companies
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The kingdom has also invested in esports and video games and committed billions of dollars of spending on football stars, teams and tour sponsorships
The UK and Saudi Arabia signed a declaration of intent to jointly develop resilient and responsible critical mineral supply chains
The new company will make tobacco-free nicotine delivery products available across Saudi Arabia by the end of 2023
Al Neyadi has been in space for almost three months and during this period he has performed a historic spacewalk and carried out several scientific investigations
Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories
The number of flights it operated in Q1 2023 stood at 17,000, a 13 per cent increase year-on-year
Saudi Arabia had suspended diplomatic ties and halted new trade and investment dealings with Canada in 2018
The port’s cargo column saw an addition of 19.33 per cent to the 2022 volume to achieve about 5,261,883 tons
The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds
Majority of construction decision makers in the two countries are confident about the market conditions over the next 12 months
All the digital systems developed by Accenture will be designed specifically for the airline, increasing operational efficiency and reducing costs