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  • Positioning Saudi Arabia at the forefront of low-carbon expertise

    Marco Arcelli, CEO of ACWA Power, talks to The Energy Year about the company’s multi-gigawatt pipeline of renewable projects in the Middle East and Saudi Arabia’s growth potential beyond 2030. ACWA Power is a Saudi company that develops and operates power generation and desalination assets in 14 countries across the Middle East and Asia. ACWA Power’s development has gone through several phases. Initially, we focused on domestic projects, especially independent water plants with some power generation. Our international expansion began in nearby markets such as Morocco, and around 2020, when Saudi Arabia’s Vision 2030 became more concrete, we entered a phase of accelerated growth.

  • Saudi Arabia expands scope of Saudi Qualification Verification Program

    On 28 January 2025, the Saudi Ministry of Human Resources and Social Development announced the full expansion of the Professional Verification service under the Professional Accreditation program. The program now applies to all industries and a broader range of countries. The scope of the Professional Accreditation program has now been expanded to 1,007 professions encompassing all industries, moving beyond its previous focus on sectors such as aviation, construction, health care, media and tourism. Additionally, the MHRSD's recent announcement confirms that the target of 160 countries has been met.

  • Max Bergmann: Does Europe Matter in the Middle East?

    The larger question is though, can Europe develop a more cohesive foreign policy as essentially the European Union toward the Middle East? Because when you talk about these individual countries, they are of declining power on the world stage—the United Kingdom and France in particular. Europe collectively is 450 million people, an economy the size of the United States and China. The question is, can it really assert itself in the Middle East or have a presence in the Middle East that reflects its potential power?

  • Lulu to retail popular Saudi brand Milaf Cola

    An iconic Saudi F&B brand, Milaf Cola, will now be available at LuLu outlets in the GCC – and with the possibility of taking it to India as well. This comes after the Abu Dhabi headquartered hypermarket operator Lulu signed a deal with Al Madina Heritage, part of the Saudi wealth fund PIF’s holdings. "Sourcing and selling world-class products globally has always been our key strength,” said Yusuffali M. A, Chairman of Lulu Group. With our sourcing network spanning 23 countries, we are further strengthening our product portfolio by signing various MoUs with top suppliers.” What makes Milaf carve a different niche in an intensely fought over cola market is its use of carbonated date-sweetened formula. This replaces the traditional sugars or sweeteners with date extracts.

  • Saudi Wealth Fund Blocks PwC From Advisory Work for One Year

    Saudi Arabia’s wealth fund has temporarily banned PwC from advisory and consulting services contracts, people familiar with matter said, halting the firm’s progress in one of the world’s most lucrative markets. Executives at the $925 billion Public Investment Fund and its more than 100 subsidiaries have been told to stop handing out consulting projects to PwC until February 2026, the people said, declining to be identified as the information is confidential. The firm’s auditing projects will not be affected, they said. The PIF did not explain reasons behind the move in messages sent to its portfolio companies. Representatives for the fund declined to comment, while a spokesperson for PwC didn’t respond to requests for comment. The PIF’s decision comes two years after PwC received a license to open its regional headquarters in the kingdom, where it employs more than 2,000 people across Riyadh, Jeddah, AlUla, Al Khobar and Dhahran. In the Middle East, the company operates from more than 20 locations. PwC’s non-audit services span areas like mergers and acquisitions and tax advisory, alongside its strategy and consulting work. For its most recent fiscal year, the Middle East was the fastest-growing geography within PwC UK, the corporate entity that includes the region.

  • Saudi Housing Demand Under Pressure: Video

    Faisal Durrani, Partner & Head of MENA Research at Knight Frank speaks with Bloomberg TV’s Joumanna Bercetche on the Horizons Middle East and Africa show about first-time home buyer demand in Saudi Arabia and his outlook for the property market in the kingdom.

  • Saudi Crown Prince congratulates Lebanese PM on forming new government

    Saudi Crown Prince Mohammed bin Salman congratulated Lebanese Prime Minister Nawaf Salam on forming a new government, the Saudi Press Agency (SPA) reported on Thursday. MBS sent a cable to Salam, expressing “sincere congratulations and wishing [Salam] goodluck and success and for the brotherly people of Lebanon further progress. ”The Crown Prince’s cable to the prime minister comes after the newly formed Lebanese government won the lawmakers’ vote of confidence on Wednesday. Salam was serving as president of the International Court of Justice before his designation as prime minister in January. It came after the country’s army commander, Joseph Aoun, was elected as a president.

  • Commentary: What the ‘Trump Gaza’ fantasy is meant to tell to the Arab world

    US President Donald Trump appears to have finally accepted that his scheme to expel all 2.2 million Palestinians permanently from Gaza and have the US turn it into a "riviera" is unworkable. A week ago, Mr Trump was still insisting the Palestinians must be expelled, potentially never to return. However, this weekend he confirmed that Egypt and Jordan had refused to take the Palestinians, and the idea was now merely "a recommendation". But Mr Netanyahu’s plan has become clear during phase one. By continuing to refuse to discuss any alternative Palestinian civic administration he has made a strategic choice to leave Hamas in power. This is effectively a continuation of his traditional divide-and-rule policy towards Palestinians to thwart what the Israeli right fears most: Palestinian statehood. By dividing Palestinians between Islamist control in Gaza and secular nationalist rule by Fatah in the West Bank, the Palestinian movement is crippled and Israel can disingenuously claim it doesn't know who to talk to.

  • Saudi Arabia opens 1st phase of Sports Boulevard with 5 key destinations

    The launch of the first phase marks a milestone in one of Riyadh’s major development projects, which was unveiled by King Salman bin Abdulaziz on March 19, 2019. Closely overseen by the Crown Prince, the project aims to elevate Riyadh’s global ranking, positioning it as one of the world’s most livable cities. The destinations include Wadi Hanifa Destination, the Promenade Destination, the section between the intersection of Prince Mohammed bin Salman bin Abdulaziz Road and Prince Turki bin Abdulaziz I Road, the inner track of Princess Nourah bint Abdulrahman University, and the first phase of the Sand Sports Park. The completed sections of the project now span 83 kilometers, with an overall completion rate of 40%.

  • Investors Snap Up Saudi Arabia’s Debut Euro Green Bond

    Saudi Arabia sold a €1.5 billion ($1.58 billion) debut green euro bond after drawing in €7.25 billion of investor bids, as the country seeks to fund its ambitious economic-transformation plan. The transaction, the first such trade from a sovereign in the Middle East and North Africa, was sold alongside a €750 million 12-year conventional bond that priced 145 basis points over mid-swaps, the person said. Books for that tranche topped €2.7 billion.