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Saudi Arabia
Real Estate
Cityscape Global 2024: ICON reveals Network of City Innovators, a platform for collaborative urban solutions
The platform aims to tackle complex urban challenges requiring collective expertise and diverse perspectives
Real Estate
Saudi Arabia’s NEOM appoints partners for first phase of The Line
Starting in early 2025, several architects will undertake the planning and design of the neighborhoods within phase one
Real Estate
Cityscape Global 2024 kicks off in Riyadh to showcase real estate sector’s latest trends
This year’s Cityscape Global Institutional Investor Program promises to unlock regional and global opportunities, particularly in Saudi Arabia
Hospitality & Tourism
Saudi Arabia launches beta version of virtual travel companion Sara AI
Sara sets a new benchmark as the first digital human travel companion developed for a national tourism board
Banking & Finance
Dubai’s Spinneys announces record $626.2 million revenue for nine months, pre-tax profit climbs to $55.3 million
Adjusted EBITDA up 8.8 percent YoY with an industry-leading EBITDA margin of 18.3 percent
Markets
GCC region’s IPO outlook remains positive for 2024 despite slower Q3: Report
Outlook for the GCC IPO market remains positive with a healthy IPO pipeline of companies from a diverse range of sectors
Hospitality & Tourism
Saudi flynas reinforces European Network during World Travel Market 2024 in London
Throughout its booth, flynas demonstrated its latest products, offerings, Umrah and travel packages
Hospitality & Tourism
Air Arabia launches Sharjah-Yanbu flights, bringing UAE-Saudi routes to 12
The new route underscores carrier’s swift growth throughout the Kingdom as tourism and business travel climb
Banking & Finance
Saudi Aramco achieves Q3 revenue of $111.1 billion, $27.6 billion in net profit
“Aramco delivered robust net income and generated strong free cash flow during the third quarter, despite a lower oil price environment,” Eng. Nasser said
Banking & Finance
stc Group achieves highest 9-month revenues of $15 billion, $2.98 billion in net profit
Total revenues grew 3.92 percent compared to the same period last year
Energy
OPEC+ extends voluntary oil output cuts until the end of the year
The group is currently cutting 5.86 million barrels per day of output, equal to about 5.7 percent of global demand
Industry
Saudi Arabia’s PIF to acquire 54 percent stake in MBC Group for nearly $2 billion
MBC Group recorded a net income of SAR237.8 million in 1H 2024 – up a significant 359.8 percent year-on-year
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