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  • What to Make of China’s Moves in the Middle East

    In late July, 14 Palestinian factions including rivals Hamas and Fatah agreed “to end their divisions and form an interim national unity government” in a “Beijing Declaration” after negotiations in the capital that began on July 21. The talks followed an earlier attempt by China to broker a deal between Fatah and Hamas.

  • Saudi Arabia completes SR6.018 billion Sukuk issuance for August 2024

    The National Debt Management Center has completed the receipt of investor requests for the local Sukuk issuance for August 2024, as part of the Saudi Arabian government’s Sukuk program in Saudi Riyals. The total allocation for this issuance was set at SR6.018 billion. The center's statement detailed that the issuance was divided into five tranches. The first tranche, amounting to SR2.818 billion, is set to mature in 2029. The second tranche, totaling SR1.992 billion, is due in 2031, while the third tranche, valued at SR152 million, will mature in 2034. The fourth tranche, amounting to SR415 million, is set to mature in 2036, and the fifth tranche, totaling SR642 million, is due in 2039.

  • Maersk opens the doors to its largest Logistics Park at Jeddah Islamic Port in Saudi Arabia

    The Saudi ports sector is witnessing major and unprecedented leaps, in terms of high operational performance efficiency, achieving records in international indicators, growing maritime navigation lines and increasing maritime connectivity with the countries of the world. The Maersk Logistics Park at Jeddah Islamic Port will contribute to service and development in supporting economic activity in the Kingdom and providing highly efficient logistics services to support the movement of trade and export to foreign markets and enhance the work of supply chains and logistics.

  • Saudi Cultural Fund to launch on Thursday new initiative to finance cultural projects

    The Fund will launch on Thursday a financing program, the first of its kind, to develop the cultural sector and integrate the private sector in providing financing solutions for establishments operating in various cultural and creative fields. The program is set to build strategic partnerships to link the public and private sectors with their non-profit counterparts, as well as to develop it, achieve its sustainability, and enhance its profitability.

  • Delivery partner appointed for construction of world’s largest airport in Saudi Arabia

    UK-based construction company Mace has won the role of delivery partner for Saudi Arabia’s King Salman International Airport, which is expected to be the world’s largest airport once completed. Mace will oversee the planning and construction of the airport in Riyadh and will work alongside the King Salman International Airport Development Company (KSIADC), which is owned by Saudi Arabia’s Public Investment Fund (PIF). The six-runway airport is expected to be ready to transport people travelling for Riyadh Expo 2030 and the FIF World Cup 2034.

  • Saudi POS operations reached 204 million with a value of over SR13 billion in a week

    The total number of point of sale (POS) operations in Saudi Arabia reached more than 204 million with a value of over SR13 billion during the last week. A total of 204,274,000 POS operations, with a value of SR13,568,097,000, were undertaken during the period from August 11 to 17 compared to SR13,093,782,000 in the previous week, according to the Saudi Central Bank's weekly bulletin for points of sale. The number of operations in clothing and shoes accounted for 7,338,000 with a value of SR931,595,000 while the operations in construction and building materials stood at 1,606,000 with a value of SR332,513,000. The number of operations in education reached 232,000 with a value of SR1,011,702,000.

  • Saudi infrastructure provider signs on for The Rig giga-project

    Saudi adventure tourism project The Rig has contracted a local company to develop the infrastructure for one of the kingdom’s more outlandish giga-projects. The Public Investment Fund (PIF) company said International Maritime Industries (IMI) had formally agreed to provide maritime logistics and infrastructure for the project, which has an ambitious target date of 2027. The Rig involves two floating entertainment centres on oil rig platforms off Saudi Arabia’s east coast.

  • Saudi Arabia’s NEOM Green Hydrogen Plant launches mass recruitment drive

    NEOM Green Hydrogen Company (NGHC) has initiated a major recruitment campaign for its world-leading green hydrogen plant in Saudi Arabia’s futuristic city NEOM, as the project moves closer to its operational phase. The $8.4 billion facility, set to be the world’s largest green hydrogen production plant, is progressing on schedule for full operations by the end of 2026. The project aims to produce up to 600 tonnes of carbon-free hydrogen daily, potentially eliminating five million tonnes of CO2 emissions annually.

  • Cristiano Ronaldo remains all the rage but Saudi Pro League needs a title race

    Even with players such as Sadio Mané, Marcelo Brozovic and Aymeric Laporte as fellow Yellows, and plenty of other talent, Al-Nassr do not look ready to finish above Al-Hilal at the moment. The president of the club resigned this week and there have been claims that the head coach, Luís Castro, survives in the job only because of Ronaldo’s protection. Reports of other Saudi clubs ready to pinch unsettled players – the transfer window shuts on 2 September – also does not help.

  • Saudi Pro League brings in Webook to manage electronic ticketing

    The Saudi Pro League (SPL), which kicks off its new season tomorrow, has signed a three-year deal with ticketing platform Webook.com. The SPL said the aim was “to streamline the fan experience for partnering clubs, offering early access to tickets, and season passes. Fans within the Kingdom and abroad will be able to purchase tickets well ahead of matchday.” As well as administering the tickets sales process, Webook.com will support clubs with technical assistance and ongoing ticket promotions, working towards integrating Webook into their own sites.