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  • K. Hovnanian to Enhance Saudi Arabia Housing Sector

    Matawan-based Hovnanian Enterprises, Inc., a leading national homebuilder across the United States, announced the signing of a Memorandum of Understanding (MOU) between its subsidiary, K. Hovnanian M.E. Investments, LLC, and the Ministry of Municipalities and Housing of the Kingdom of Saudi Arabia. Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia.

  • Rory McIlroy, and ‘the next step’ if a Tour-Saudi deal doesn’t happen

    Rory McIlroy says if a funding deal between the PGA Tour and the Saudi Arabia Public Investment Fund doesn’t happen soon, the PIF will look at “alternative options.” What those options would be was unclear as the Tour and PIF continue to negotiate, 14 months after the sides agreed to do so. McIlroy was speaking after Thursday’s play at the Tour’s season-ending event, the Tour Championship.

  • Saudi Masters Snooker Championship to Start Tomorrow in Riyadh

    The first edition of the Saudi Masters Snooker Championship begins tomorrow in Riyadh. Organized by the Saudi Billiards and Snooker Federation under the supervision of the Ministry of Sport, the tournament will take place at the Green Halls Sports Complex and continue until September 7. It will feature 144 players from around the world. The championship boasts the participation of global stars, led by seven-time world champion Ronnie O'Sullivan and the world's top-ranked player, Judd Trump.

  • Here are all the athletes representing Saudi Arabia at Paralympics Games Paris 2024

    When Saudi Arabia said it was going for global domination, it wasn’t just talking about expanding its regional developments. The Kingdom also had its eyes set on shining on the international stage, particularly in sports where Saudi athletes are stepping into the limelight. With the Paralympics Games Paris 2024 in full swing, Saudi Arabia’s talented athletes are ready to compete and make history.

  • Saudi Arabia’s Hades Financial readies $750m for India investment

    The Riyadh-based group, which manages assets worth $6.1 billion, will deploy the new funds over the next three years. About $400 million from the new allocation will flow into homegrown companies, mostly those ripe for a public flotation within three years, said Mohammed Abrar Asif, co-chief executive officer at Hades, in a recent interview with Nikkei Asia.

  • Saudi high schoolers bring home 3 medals from international astronomy Olympiad

    A group of Saudi high school students returned home on Thursday after securing bronze medals at an international science olympiad. The Saudi Astronomy and Astrophysics team arrived to cheers after representing the Kingdom in its first appearance at the International Olympiad on Astronomy and Astrophysics. Over 250 students from 53 countries gathered in Vassouras, Brazil for the ten-day event.

  • Saudi esports, gaming sectors to boost GDP by $13.3bn

    Esports and the gaming sector could contribute as much as $13.3bn (SAR50bn) to Saudi Arabia’s annual gross domestic product (GDP) and generate nearly 39,000 jobs by 2030, according to a study commissioned by PwC and the Saudi Esports Federation. Saudi Arabia unveiled its National Gaming and Esports Sector Strategy in 2022 to foster a thriving and competitive esports ecosystem as part of Vision 2030, an initiative aimed at social and economic transformation.

  • PIF-backed Saudi companies increase dividends

    This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s economic diversification. Other investors can also benefit.

  • Are You Ready for Saudi Arabia’s Personal Data Protection Law? Here’s What You Need to Know

    As Saudi Arabia’s new Personal Data Protection Law (PDPL) comes into effect this September, companies across the Kingdom are racing to meet stringent data management and privacy standards. The law, which is said to be modelled closely on the EU’s GDPR, is designed to safeguard personal information and regulate data handling practices, reflecting Saudi Arabia’s commitment to data privacy amid its broader Vision 2030 goals.

  • Saudi inflation remains steady at 1.5% in July

    The consumer price index (CPI) increase was primarily driven by a 9.3% year-on-year (YoY) rise in housing, water, electricity, gas, and other fuel prices, according to Al Rajhi Capital Research. The Wholesale Price Index (WPI) rose by 3.1% in July 2024 compared to the same month in 2023. Furthermore, Saudi crude oil production (mbpd) rose to 9.00 in July.