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  • HE Eng. Khalid bin Abdulaziz Al-Falih

    As Minister of Investment, HE Khalid Al-Falih leads a multi-disciplinary and multi-specialty team that contributes to exceptional achievements in the field of developing the investment environment in the Kingdom, attracting national and foreign investments to various vital and promising economic sectors, and supporting the Saudi private sector’s investments outside the Kingdom, in addition to driving the growth of the private sector in the Kingdom, which is a major goal of the Kingdom’s “Vision 2030”, and an important factor in the efforts to diversify the Kingdom’s national economy

  • Saudi Arabia’s SURJ Sports Investment ‘preferred bidder’ for ATP Masters 1000 event

    SURJ, the sports investment company launched by Saudi Arabia’s Public Investment Fund (PIF) last August, is reportedly the frontrunner, though an agreement is yet to be reached with the ATP Tour on a venue or commercial terms. If a deal is reached, SURJ would be granted a licence for an ATP Masters 1000 event, which feature the top-ranked players on the tour. There are currently nine ATP Masters 1000 tournaments played across cities including Miami, Madrid and Paris.

  • Saudi Bank Risk Profiles Are Stronger than at Other GCC Lenders

    Fitch’s asset quality and risk profile scores for banks in the region are strongly correlated, as the business models of GCC banks are mainly focused on lending. Credit risks are therefore a major influence on their risk profiles. The weighted-average risk-profile score for Saudi banks is just below ‘bbb+’ and the weighted-average asset quality score is ‘bbb+’. In the UAE, Qatar and Kuwait, both weighted-average scores are two notches lower, at ‘bbb-’.

  • BYD’s 1st showroom in Saudi Arabia opens

    BYD's first Saudi Arabian store opened in the country's capital, Riyadh, on May 28 in the heart of the Al Ghader district, the Chinese new energy vehicle (NEV) maker announced today on Weibo. The first BYD store in Saudi Arabia was built by local distributor Al-Futtaim Electric Mobility Company and includes a showroom, discovery center and service center.

  • Lucid, EVIQ sign MoU to set up high-speed public charging infrastructure in Saudi Arabia

    Saudi Arabia is set to activate high-speed public charging infrastructure to support the adoption of electric vehicles, thanks to a new agreement. The memorandum of understanding between the electric car specialists Lucid and Electric Vehicle Infrastructure Co., also known as EVIQ, aims to foster cooperation and the exchange of expertise in developing and enhancing the Kingdom’s EV sector.

  • Saudi Arabia Ramps Up Bonds to Help Fund MBS’s Big Projects

    Saudi Arabia hasn’t had a busier stretch in the debt market since the 2014-2016 oil crash left its budget with a double-digit deficit.

    Even with crude prices up 10% this year, it’s trying to borrow its way through a fiscal squeeze caused by the need to fund huge projects championed by Crown Prince Mohammed bin Salman, widely known as MBS, to transform the economy.

  • Saudi Arabia to launch Aramco’s secondary offering on June 2: Report

    Saudi Arabia is set to formally launch a secondary offering of Saudi Aramco on June 2, Bloomberg reported, citing unnamed sources with knowledge of the matter.   The government plans to run a book-building process to gather investor orders until June 6. The stock sale has already attracted informal interest from investors across the Middle East and Europe totaling over $10 billion.

  • Saudi Arabia Set to Launch $10 Billion Aramco Offer Sunday

    Saudi Arabia is preparing to formally launch a secondary offering of shares in oil giant Aramco as soon as Sunday, a deal that could raise more than $10 billion and rank among the largest of its kind in recent years.

    The government plans to run a book-building process to take orders until next Thursday, people familiar with the matter said, asking not to be identified as the information is private. The deal has attracted informal interest from investors across the Mideast and Europe totaling over $10 billion, they said.

  • Saudi ‘Ignite’ digital content program grows 70% in 2023: Vice Minister

    The Ignite digital content program grew 70% year-on-year (YoY) to SAR 20 billion in 2023, which reflected positively on the Kingdom’s gross domestic product (GDP), said Haytham AlOhali, Vice Minister of Communications & Information Technology, on the sidelines of a digital advertising event.   Ignite is one of the Kingdom’s digital economy fundamentals, AlOhali underlined, adding that the size of the local advertising market doubled from SAR 1.9 billion in 2022 to SAR 4.8 billion in 2023.

  • The power of innovation and collaboration in Saudi Arabia

    In our industry, ‘innovation’ is a buzzword that’s thrown around a lot, but often falls short in practice. Every conversation and project request seems to demand innovation, but most of the time, it doesn’t deliver. Let’s break it down: there’s basic improvement, which some might call innovation, and then there are big ideas that never actually happen.