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  • Al-Jadaan unveils Saudi Arabia’s integrated strategy to accelerate digital transformation

    Addressing the first edition of the International Conference on Financial Technology, '24 Fintech, at the Riyadh Front Exhibition and Conference Center on Tuesday, he said that the Kingdom has adopted an integrated strategy aimed at enabling and accelerating the government's digital transformation efficiently and effectively. "Saudi Arabia has targeted, since the launch of Vision 2030, accelerating the pace of transformation to advance the digital economy, as well as to ensure the sustainability of its growth and keep pace with the rapid development in the world of technology," he said.

  • Virgin Atlantic is launching daily flights from London to Saudi

    The UK airline will begin direct Virgin Atlantic Saudi flights to Saudi’s capital starting from Sunday March 30, 2025. The nonstop service will function directly from Riyadh to London Heathrow, taking around six hours and 50 minutes. Passengers will board the state-of-the-art A330neo, Virgin Atlantic’s newest fuel-efficient aircraft.

  • Saudi fintech Malaa secures $17.3 million Series A

    Saudi Arabia-based fintech Malaa has closed a Series A funding round at $17.3 million, led by SNB Capital, with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN.

  • Amendments to Saudi Labor Law

    With wide labor market input, and extensive benchmarking studies of other countries' labor laws and global practices, the Amendments aim to further align with Saudi Arabia's Vision 2030 by creating a more attractive work environment for employees; enhancing job security; protecting both parties' rights; developing human capital; and promoting training opportunities, among others.

  • Shoura Council welcomes 19 new female members

    Among the 150 members, 30 are women, with 19 of them serving their first term in the council. This diverse group of newly appointed female members includes distinguished experts such as Dr. Arwa Al Rashid, Dr. Ishraq Rafaei, Dr. Amal Qattan, Dr. Amal Al-Hazani, Dr. Bushra Al-Hamad, and Dr. Taqwa Omar. Their inclusion reflects the growing recognition of women's expertise and leadership potential within the council.

  • Saudi PMI rises to 54.8 points in August

    According to the PMI, job creation was a notable feature of this expansionary trend, with employment numbers rising at some of the highest rates seen in a decade. Purchasing activity and inventory levels also increased due to stronger company expectations, accompanied by a slight rise in new order growth.

  • Tamara secures preliminary approval from SAMA for consumer finance license

    Tamara, the leading fintech platform in Saudi Arabia and the GCC, is thrilled to announce that it has received preliminary approval from the Saudi Central Bank (SAMA) for a license to operate in consumer finance and Buy Now Pay Later activities. This significant milestone underscores Tamara's commitment to advancing the fintech sector and enhancing financial services in the region.

  • Saudi Wealth Fund Taps Bond Market for Fourth Time This Year

    Saudi Arabia’s sovereign wealth fund tapped bond investors for the fourth time this year as it looks to finance its huge domestic investment plans. The Public Investment Fund sold a three-year sukuk in a $1.5 billion size, according to people familiar with the matter. The spread was tightened to 75 basis points over US Treasuries from an initial target of around 110 basis points. Demand was over $4.7 billion, the people said.

  • Heavy rain hit the city of Jeddah in Saudi Arabia: Video

    The heavy rain in Jeddah, Saudi Arabia, had a negative impact on life. There were floods on some roads due to rainfall.

  • SparkLabs launches $50 million fund for Saudi AIM-X accelerator

    Global early-stage venture capital firm SparkLabs Group has launched the SparkLabs AIM AI Fund with confirmed investment of $50 million, which will invest in participants in the AIM-X artificial intelligence startup programme. SparkLabs unveiled AIM-X in June, as the official AI startup programme under Saudi Arabia’s Artificial Intelligence Mission (AI.M), which aims to bolster the Kingdom's leadership in AI over the next five years. Originally announced at LEAP24 in March, AI.M was created by Saudi’s Ministry of Communications and Information Technology's National Technology Development Program (NTDP), King Abdullah University of Science and Technology (KAUST), and Saudi Data & Artificial Intelligence Authority (SDAIA).