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  • Saudi Arabia will Introduce Tourist Visas ‘Soon’, Tourism Authority Head Confirms
     

    Saudi Arabia plans to start issuing tourist visas “soon,” Prince Sultan bin Salman bin Abdul Aziz, head of the Saudi tourism authority, said in a statement according to several reports. Prince Sultan did not give an exact time frame. The Kingdom issues separate visas for the millions of pilgrims that visit Saudi Arabia each year for […]

     
  • KAPSARC’s New Headquarters Near Riyadh, Designed by Zaha Hadid Architects, Receives LEED Platinum Status
     

    The futuristic-looking new headquarters of the King Abdullah Petroleum Studies and Research Centre (KAPSARC) on the outskirts of Riyadh has received LEED Platinum certification—the first of Zaha Hadid Architects’ projects to receive the title. KAPSARC is a non-profit dedicated to studying energy and their environmental impacts. The new 230,000 square-foot campus comprises five buildings and cuts a striking figure against […]

     
  • Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
     

    Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]

     
  • Over 87,000 Business Licenses Issued to Saudi Arabia this Year – Report
     

    Saudi Arabia’s Ministry of Commerce and Investment issued over 87,000 business licenses to women in the last year as the Kingdom looks to increase female integration into the Saudi economy. The Ministry said it issued 87,575 commercial registrations for women “for businesses in various fields, including trade, manufacturing, communications, information technology, real estate, cleaning, tourism, restaurants […]

     
  • Saudi Economy Contracts as Production Cuts, Reforms Begin
     

    Saudi Arabia’s economy contracted by 1.03 percent in the second quarter of this year following a 0.5-percent contraction in the first quarter, according to reports, as participation in the OPEC oil production cut and disappointing growth in non-oil industries weighed on the economy. While the contraction in the economy is to be expected as OPEC and Russia seek […]

     
  • Saudi-based Restaurant Management Startup Raises $4m
     

    A restaurant management startup in Saudi Arabia has raised a $4m Series A investment as the Kingdom sees signs of life for new small and medium-sized enterprises (SMEs). Foodics, which is a Saudi-based company, offers an all-in-one iPad-based point of sale and restaurant management system. Foodics raised its venture funding from Saudi VC firms Raed […]

     
  • Saudi Arabia’s ‘Third Rail’ No More? Kingdom Eyes Ambitious Energy Subsidies Cuts By November 2017, Report Says
     

    Energy subsidies have long been a significant drag on the Saudi economy on numerous fronts, but as Vision 2030 reforms move ahead, Saudi Arabia is reportedly eyeing further cuts to its domestic energy subsidy program, long a third rail for Saudi domestic politics. According to a Bloomberg report, the government will aim to phase out “subsidies for gasoline and jet […]

     
  • ‘Shale Oil 2.0’: Uptick in Oil Prices Entices Shale Producers, but ‘Bumps in the Road’ Persist — Jadwa Investment
     

    The recently observed uptick in oil prices has given many US shale oil producers the opportunity to expand production, Riyadh-based Jadwa Investment said in a research note on shale production. “Latest forecasts from the Energy Information Administration (EIA) see US oil production rising by 10 percent year-on-year in 2017, and 3.3 percent in 2018. Alongside the […]

     
  • Saudi Arabia Secures Spot in 2018 World Cup in Russia
     

    Saudi Arabia has secured a trip to compete in the next World Cup in 2018 after defeating Japan 1-0 in their last AFC Round 3 Group B match on Tuesday. The World Cup in 2018 is being hosted by Russia, and matches will be played in cities across the country. According to FIFA, Saudi Arabia finished […]

     
  • Dow Chemical to Buy 15% More of Sadara to Boost Stake to 50%
     

    Dow Chemical plans to buy an additional 15 percent stake in its $20 billion joint venture with Saudi Aramco, the companies said on Monday according to reports. The U.S.-Saudi joint venture, named Sadara, aims to transform Saudi Arabia “from a consumer and importer to a global exporter,” according to Saudi Energy Minister Khalid al-Falih. U.S.-based Dow Chemical […]

     

MUST-READS

  • Saudi Film Pioneer Faisal Baltyuor Launches First Arthouse Cinema in Riyadh

    Saudi Arabian film industry pioneer Faisal Baltyuor is opening the first arthouse cinema in Riyadh in what amounts to a milestone in the kingdom’s moviegoing trajectory ever since Saudi lifted its 35-year ban on cinema in late 2017. The plush state-of-the-art 80-seat venue, called Cinehouse, is set to open in the Saudi capital later this month.

  • Saudi players arrive in China ahead of World Cup qualifier

    The Saudi national team arrived in the Chinese city of Dalian on Friday ahead of their World Cup qualifier there next week. The Green Falcons will face China on Tuesday night at the Dalian Suoyuwan Football Stadium, in the second game of the third round of the Asian qualifiers for the 2026 World Cup.

  • Saudi Arabian Military Industries Announces Retirement of CEO, Names Interim Chief

    Abukhaled took over as chief of the Saudi defense business in 2020, succeeding Andrew Schwer, a German national and former executive at Rheinmetall. Before leading SAMI, Abukhaled was CEO of the Middle East unit of Northrop Grumman. Under his leadership, SAMI underwent significant expansion and growth, acquiring several businesses, including Advanced Electronics Company and Alsalam Aerospace. He also led efforts to seal joint ventures and contracts, the most recent being a $3 billion deal with Turkish Baykar to produce Akinci drones in Saudi Arabia.

  • Saudi Arabia’s Public Investment Fund to transfer its gaming stock to Savvy Games Group

    Saudi Arabia's Public Investment Fund is set to transfer its games-related stock to its subsidiary Savvy Games Group. The move could happen as early as 2025, according to a Savvy representative talking to Nikkei, with the initiative part of a wider plan to leverage IP across the Middle East, the Japanese publication reported.

  • Saudi Arabia studies over 2,000 mineral exploration license applications: SGS

    The Ministry of Industry and Mineral Resources is currently processing over 2,000 local and international license applications, including around 2,000 for exploration and approximately 139 for mining, Abdullah Al-Shamrani, CEO of Saudi Geological Survey (SGS). Additionally, he said that more than 2,300 mining licenses have been issued, reflecting significant growth in the sector, Asharq Al-Awsat reported.

  • Perspective: Will Saudi Arabia’s big bet on the Qiddiya gaming and esports city pay off?

    Milanov is now head of gaming at Qiddiya, a dreamy “Giga Project” under way near Riyadh in Saudi Arabia. The Saudis want 17 million visitors a year to go to Qiddiya by 2030, making it the “largest tourism destination worldwide.” Not so different from Team Liquid’s heaquarters, the aim of Qiddiya is to build a whole city where gamers, esports athletes and their fans can feel at home, and Milanov is moving into high gear soon to sell people on the idea of Qiddiya. Will giant sandworms get him, or will it all pay off?

  • Saudi Arabia to waive export customs service fees and cut import customs service fees from Oct. 6

    The Saudi Zakat, Tax and Customs Authority (ZATCA) has announced waiving the fees for all customs services for exports. The authority also reduced customs service fees for imports through a new mechanism for calculating import service fees, which involves a fee of 0.15 percent of the value of the incoming goods for customs declaration. The new fee structure will take effect on Oct. 6, 2024, the authority said in a statement.

  • Qatar Beat Saudi Arabia, Advance for Gulf Basketball Championship Final

    Team Qatar hold the record of 6 titles in the championship, and are looking to widen the space from their closest competition, the Saudi team, who have four titles. The Gulf Basketball Championship was launched in 1981, and Kuwait won the first title. The latest edition was held in 2019, when Saudi Arabia won their fourth title.

  • Film AlUla Using Tax Rebates and a Focus on Talent Development to Attract New Productions to Saudi

    One of the main hurdles in bringing more international productions to Saudi is making the bureaucracy seem less daunting to American and European teams, who might be unfamiliar with working in the region.  The new Acting Executive Director of Film AlUla Zaid Shaker told Variety how Film AlUla can offer international teams support in optimizing the country’s attractive 40% tax rebate and navigating production regulations, custom clearances, visa applications and filming permits, alongside location scouting and talent recruitment.

  • UNRWA vaccinates over 160,000 children in Gaza in polio campaign

    The UN agency for Palestinian refugees (UNRWA) announced on Friday that its teams vaccinated more than 160,000 children on Thursday, marking the first day of the second phase of a polio vaccination campaign in southern Gaza. “Thousands of families went to health facilities to receive vaccines from UNRWA medical teams,” the agency said on X. “Over 160,000 children were reached on the first day of the polio vaccination campaign in Gaza’s southern areas yesterday.”