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  • Saudi Arabia anticipates strong investor demand for private jet industry

    Infrastructure plans call for six private jet airports and nine dedicated terminals in commercial airports to improve connectivity. The increased airport capacity will accommodate the forecast growth of 24 business jets per 10,000 inhabitants (it was five jets in 2021) and for 90 per cent of the business jets owned by Saudis to be based in the kingdom rather than abroad.

  • Future Aviation Forum exceeds expectations: $21 billion in deals and forward-looking vision

    One of the most notable highlights was Saudia Group’s announcement of the largest-ever aircraft deal in Saudi aviation history with the European aerospace major, Airbus. This landmark agreement includes the acquisition of 105 aircraft, comprising Airbus A320neo and A321neo models, thereby increasing Saudia Group’s Airbus order backlog to 144 A320neo family aircraft.

  • Saudi sovereign wealth fund to reorganize management amid budget crunch, sources say

    Saudi Arabia's $925 billion sovereign wealth fund is weighing a reorganization that could see managers assume some internal responsibilities from governor Yasir Al-Rumayyan, people familiar with the matter told Reuters.
    The Public Investment Fund (PIF) aims to sharpen its focus on investments that have a higher chance of success, said the people, after scaling back some of its flagship "giga-projects" due to rising costs.

  • Saudi FM discusses Gaza, West Bank with Palestinian PM

    Saudi Foreign Minister Prince Faisal bin Farhan on Thursday spoke to Palestinian Prime Minister and Minister of Foreign Affairs Mohammed Mustafa by telephone, the Kingdom’s Foreign Ministry said.

    They discussed developments in the West Bank, Gaza Strip and its surrounding areas.

  • Saudi Arabia plans Aramco share sale as soon as June, sources say

    Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco (2222.SE), opens new tab as soon as June in what would be one of the region's biggest stock deals, two people familiar with the matter said.
    The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could still change, the sources said, who were speaking on condition of anonymity because the matter is private.

  • Mega projects in Saudi Arabia attract strong interest from investors: Al Khateeb

    Major projects in Saudi Arabia receive strong interest from private-sector operators, financiers, and investors locally, regionally, and globally, Ahmed Al Khateeb, Minister of Tourism, told Al Arabiya TV.   The private sector participation is important to support development in all fields, particularly in the tourism sector. The sector is witnessing substantial growth, especially in major projects such as Al Soudah, Diriyah, Qiddiya, NEOM, among others.

  • China, the US, and the battle for Middle Eastern technology

    China's engagement with the Middle East is intimately intertwined with its broader global competition with the United States, which is increasingly evolving into a profound struggle for supremacy among great powers. Technological innovation has become a flashpoint in this struggle, and the rivalry has driven mutual incremental measures aimed at advancing what is commonly referred to as "technological decoupling" — a process of reducing asymmetrical dependencies and, in certain instances, disentangling the technological and cyber domains altogether.

  • China planemaker COMAC eyes Saudi Arabia for global expansion

    Chinese planemaker COMAC is eyeing Saudi Arabia as a launch pad for its international ambitions, as the state-owned company steps up efforts to sell overseas and break into a passenger jet market dominated by Western manufacturers.
    Chairman Dongfeng He visited Saudi Arabia for the first time this week, having welcomed a Saudi delegation to the company's Shanghai facilities in February, amid warming ties between the two major economies.

  • Saudi Arabia’s best international Islamic bank: HSBC Saudi Arabia

    The bank topped the league tables on sukuk issuances by value, with a 19.5% share of the market. It extended a total of $11.85 billion in financing in 2023.

  • Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels

    Saudi Arabia signed deals to buy electricity from two large-scale wind farms that are cheaper than natural gas plants, as it aims to rapidly transition to a bigger share of renewables in the power grid.