Saudi Arabia

Saudi Arabia’s Al Akaria secures $192.48 million deal with Diriyah Gate for metro excavation

Expected financial impact to appear on company's statements starting from Q1 2024

Saudi Aramco expands Fadhili Gas Plant with $7.7 billion in EPC contracts

This expansion initiative aims to enhance the plant's processing capacity from 2.5 to a potential 4 bscfd

PIF-owned SITE teams up with Korea’s AhnLab for advanced cybersecurity solutions in Saudi Arabia

SITE will hold a 75 percent stake in the local joint venture to be set up in the Kingdom

Saudi Arabia’s tourism sector sets new record, foreign visitor spending touches $36 billion

In 2023, Saudi Arabia led the UN tourism list for the growth rate of international tourists compared to 2019

OPEC Secretary General predicts persistent global demand for oil in the coming decades

OPEC believes that the oil industry will need approximately $11.1 trillion by 2045

$13.32 million initiative restores 56 heritage buildings in Jeddah historic district

The project primarily targets showcasing the rich heritage of the Historic Jeddah District

Saudi Arabia introduces green financing framework to drive sustainability

Framework reaffirms Saudi Arabia's position as a regional leader in sustainable finance

More than 1,200 brands ready for franchising in Saudi Arabia: Report

The Kingdom’s franchising market offers over 10,000 business opportunities

Saudi Arabia’s ACWA Power inks $800 million deal with Senegal for desalination project

The plant, known as the Grande Côte seawater desalination plant, will have a capacity of 400,000 cubic meters per day

Saudi Arabia’s unemployment rate declines to 4.4 percent in Q4 2023

The unemployment rate among women saw a 2.6 percent decline

Saudi Arabia’s Red Sea international airport set to welcome inaugural flight with flydubai service

New twice-weekly service, operated by flydubai, commences from DXB to RSI on 18 April

Saudi Arabia’s greenfield FDI inflows surge over two-fold to $28.78 billion

This figure surpassed the previous peak of $17.57 billion in 2018

Saudi Arabia to lead U.N. forum for women’s rights

The Kingdom's Ambassador Dr. Abdulaziz Al-Wasel becomes first permanent representative to chair committee since 1946

First Saudi Green Initiative Day: Celebrating the Kingdom’s commitment to sustainability

The occasion coincides with the initial launch of the Saudi Green Initiative on the same date in 2021

Saudi Arabia sets ambitious goal to rank among top 10 global tourism destinations in 2024

The Kingdom currently holds 940,000 jobs in the tourism and hospitality fields

Saudi Arabia invests $100 million annually to enhance skills in tourism sector

Ministerial insights highlight Saudi Arabia's ambitious tourism targets

Saudi Arabia’s private equity activity surges to $4 billion in transactions in 2023

Kingdom's private equity sector thrives, dominated by buyout transactions

12 percent surge in Saudi business registrations, reaching 1.12 million

The city has seen a 14 percent increase in commercial records, surpassing 192,000 in the past five years

Saudi Arabia to get new Social Responsibility Index

The index seeks to encourage enhanced company practices

Saudi Arabia’s Rasan gets IPO approval, to offer 22.7 million shares on Tadawul

The IPO will involve the sale of 30 percent of the company's capital

Saudi Arabia implements 2nd phase of Saudization of consulting services

Second phase covers 40 percent of professions in the sector

OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045

Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition

Saudi Arabia’s Sharaan Resort project at AlUla begins

Upon completion, the resort will feature 38 suites carved into the sandstone mountains of AlUla