MUST-READS

• PRIORITY Summit in Miami Highlights Saudi Arabia’s Key Role in Geopolitics, Finance, Technology, and Sports

  The PRIORITY Summit, hosted by the Future Investment Initiative (FII) Institute in Miami, underscored Saudi Arabia's growing influence across geopolitics, finance, technology, and sports. The event attracted top leaders from politics, finance, and technology, reinforcing its status as one of the premier global investment conferences. The summit also served as a call to global investors to participate in multiple opportunities in Saudi Arabia, such as infrastructure, AI, sports, and healthcare, while highlighting opportunities that Saudi investors are keen to pursue internationally. An office to facilitate inbound and outbound investments was announced by the Saudi Minister of Investment, H.E. Khalid bin Abdulaziz Al-Falih, in the presence of Saudi Ambassador to U.S, Princess Reema bint Bandar Al Saud, Abdulrahman Bakir (Managing Director, MISA Americas) and Miami Mayor Francis Suarez.

• PwC working to mend ties with Saudi Arabia

  Global consulting firm PwC is working with Saudi Arabia and its sovereign wealth fund to address issues that have led to a suspension of new consulting projects, reported Reuters.  The Public Investment Fund (PIF), with assets worth $925bn (SR3.5trn) and more than 100 subsidiaries, has instructed its companies to halt project assignments to PwC until February 2026.  This comes two years after PwC received a licence to establish its regional headquarters in Riyadh.  The firm currently employs more than 2,000 individuals across various cities in Saudi Arabia.

• Ninja Seeks $1 Billion Valuation in Fundraising Round Ahead of IPO

  Ninja, a Saudi Arabia-based quick commerce firm, is in talks with investors to raise funds, potentially valuing the company at over $1 billion. The funding round is led by Riyad Capital and could close as early as this month. The company is preparing for an IPO by 2027.  Operating in Saudi Arabia, Bahrain, Qatar, and Kuwait, Ninja aims to capture a larger share of the Gulf region’s growing e-commerce market. Its business model focuses on the rapid delivery of products like groceries and pet supplies through local fulfillment centers. The company’s expansion into neighboring markets underscores its ambition for regional dominance.

• KFSHRC Rises 20 Spots in Newsweek’s Global Top 250 Hospitals Ranking

  King Faisal Specialist Hospital & Research Centre (KFSHRC) has again secured its position as the top hospital in Saudi Arabia for the fourth consecutive year, according to Newsweek’s 2025 ranking of the world’s best hospitals. KFSHRC has made strides, jumping 20 places from last year's list, indicating a 9% improvement in this prestigious ranking. Among more than 200,000 hospitals operating globally, Newsweek and Statista evaluate only 2,400 institutions and publish an annual list of the top 250 hospitals. The ranking is based on various criteria, including medical performance indicators, healthcare outcomes, and expert recommendations from international healthcare professionals. In 2024, KFSHRC set a new record with 1,111 organ transplants in one year, including 500 successful kidney transplants through the paired exchange program, reinforcing its status as a global leader in complex surgeries and organ transplantation. The hospital also provided advanced medical care to patients from 17 different countries, solidifying Saudi Arabia’s position as a premier destination for healthcare.

• SWPC Signs $2.26 billion Jubail-Buraydah Independent Water Transmission Pipeline Project

  Saudi Water Partnership Company (SWPC) announces the signing of agreements of Jubail-Buraydah Independent Water Transmission Pipeline (IWTP) project with the consortium comprising Aljomaih energy & water company and Nesma Company Ltd. and Buhur for Investment Company. This project is a significant boost to the water infrastructure in the Al-Qassim and the Eastern provinces that will cater to the drinking water needs in both regions. The pipeline will have a transmission capacity of 650,000 m3/day and a length of 587 km, at a total project cost of 8.5 billion riyals.

• Aramco Trims World’s Biggest Payout in Blow to Saudi Budget

  Saudi Aramco expects the total payout to be about $85 billion in 2025, compared with $124 billion last year, it said in a statement Tuesday. The lower distribution, in line with previously announced policy, has been in focus for investors and economists alike as the payout has become a crucial component of the kingdom’s budget amid a multitrillion-dollar plan to transform the economy. The decision represents a crucial choice for the Saudis — risk increasing stress on Aramco’s balance sheet or let the kingdom’s budget deficit widen. The company had flipped into a net-debt position recently, a sharp turnaround from the over $27 billion in net cash a year ago. Last year, the total dividend was almost $40 billion higher than free cash flow — the money left over from operations after accounting for investments and expenses.

• PIF and Goldman Sachs Asset Management sign an MoU to partner on investment in Saudi Arabia, GCC

  PIF and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region. The new investment funds will aim to raise equity capital from international investors, with significant capital allocated for investments in Saudi Arabia. The MoU would further strengthen the domestic asset management industry and encourage regional and international managers to expand their presence in Saudi Arabia. Asset management is part of PIF’s wider efforts to diversify the Saudi economy and enhance local capital markets.

• Saudi Arabia to consider resuming Lebanon imports, lifting travel ban

  Saudi Arabia will review “obstacles” to resuming Lebanese imports and ending a ban on its nationals visiting Lebanon, the two governments said. The announcement was made in a joint statement released after Lebanese President Joseph Aoun met Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman (MBS) in Riyadh on Tuesday – Aoun’s first trip abroad since taking office in January. “The two sides agreed to start studying the obstacles facing the resumption of exports from the Lebanese Republic to the Kingdom of Saudi Arabia, and the measures necessary to allow Saudi citizens to travel to” Lebanon, the statement published by the official Saudi Press Agency said. In April 2021, the kingdom suspended fruit and vegetable imports from Lebanon, charging that shipments were being used for drug smuggling and accusing Beirut of inaction.

• Saudi oil giant Aramco posts drop in full-year profit, slashes dividend

  Saudi state oil producer Aramco reported on Tuesday a decline in net profit to $106.2 billion in 2024, down from $121.3 billion in 2023. The company said it expects total dividends for 2025 of $85.4 billion — a significant fall from 2024′s total of $124.2 billion. This comes as it cut its total payout for the fourth quarter. The oil giant said its base dividend for the final three months of the year would be increased to $21.1 billion, but its performance-linked payout would be just $200 million. This compares to a third-quarter base dividend of $20.3 billion and a performance-linked dividend of $10.8 billion. Lower oil prices hit the company’s net profit last year as crude production around the world increased and demand slowed. Amarco’s realized oil price — the final price the company receives for selling its crude after accounting for transport costs and other factors — dropped to $80.2 per barrel in 2024 from $83.6 the year prior.

• Heavy rains sweep across Saudi Arabia, triggering weather warnings and supension of in-person classes
  Saudi Arabia’s General Directorate of Civil Defense has issued a weather warning for most regions of Saudi Arabia, forecasting moderate to heavy rainfall across large parts of the country until Friday. The affected regions include Mecca, Riyadh, Medina, Tabuk, Hail, Qassim, the Eastern Province, Northern Borders, Al Jouf, Al Baha, and Asir. The Civil Defence urged residents to take necessary precautions, avoid flood-prone areas such as valleys, and refrain from swimming in them.

• 10 of 44010 results<< 1 … 13 14 15 … 4,401 >>