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  • The Next Big Things in Retail Summit will explore how the Middle East’s retail industry is being transformed

    The Middle East is on the cusp of a retail revolution. Driven by ambitious economic diversification plans and a growing young population, the region offers a dynamic opportunity for retailers and innovators. As consumer expectations evolve and reshape the industry, Fast Company Middle East’s Next Big Things in Retail summit, scheduled for 12th November in Riyadh, will serve as a crucial platform to explore and shape the future of retail in the region with a deeper focus on Saudi Arabia.

  • Food and beverage sector dominates Saudi POS spending

    According to a report by the Saudi Central Bank, restaurants and cafes in the Kingdom have spearheaded a notable increase in point-of-sale (POS) transactions from June 30 to July 06. The food and beverage sector held the largest share of POS spending, with an 8.8 percent increase to SR2.05 billion, up from SR1.88 billion the previous week. This was followed by the restaurant and cafe sector, which saw a 9 percent rise in spending, reaching SR1.96 billion. This highlighted a resilient economic recovery.

  • Saudi Arabia to host inaugural Olympics Esports Games in 2025, says IOC

    The decision will be ratified at the IOC Session to be held on the eve of the Olympic Games in Paris, after which work will begin on selecting a host city for the inaugural edition. “We are very fortunate to be able to work with the Saudi NOC on the Olympic Esports Games, because it has great – if not unique – expertise in the field of esports with all its stakeholders,” IOC president Thomas Bach said in a statement.

  • Saudi Pro League to focus on younger signings, homegrown talent

    The Saudi Pro League is encouraging its clubs to foster homegrown talent and switch focus to wooing promising young internationals after making headlines for big name signings for huge money, a document outlining plans for the new season said. The league signed 97 foreign players last season and boasts 39-year-old global soccer superstar Cristiano Ronaldo and 32-year-old Brazil forward Neymar among other household names.

  • Saudi Prince’s Trillion-Dollar Makeover Faces Funding Cutbacks

    A government committee led by the de facto Saudi ruler, Crown Prince Mohammed Bin Salman, is close to completing a sweeping review of mega projects including the sprawling desert development known as Neom, people familiar with the matter said, asking not to be identified as the information is private.

  • Why Saudi Tourism’s Future Depends on Strong Private Sector Partnerships

    While Saudi’s tourism industry is currently keeping pace, it requires significant efforts to reach these future goals. Many of its new destinations are still developing their travel infrastructure or catering to niche markets. The country also faces the challenge of integrating these emerging markets into its existing tourism framework and effectively marketing them to attract the right visitors.

  • Saudi-Chinese partnership wins $2bn Diriyah deal

    Work will begin on a new mixed district at the Saudi giga-project Diriyah in the third quarter of 2024 after a SAR7.8 billion ($2 billion) construction contract, the largest yet, was awarded to a Chinese-Saudi partnership. Saudi contractor El Seif Engineering and China State Construction Engineering will build the district, which will contain educational institutions, cultural venues, offices and a luxury hotel in the northern part of Diriyah, the official Saudi Press Agency said. “This represents a major step in our accelerating development strategy and commitment to making Diriyah one of the most important and prominent tourist, humanitarian, and cultural destinations in the world,” Diriyah’s CEO, Jerry Inzerillo, said.

  • US ‘winding down’ Gaza pier operations

    U.S. Central Command yesterday announced that U.S. operators and others attempted to “re-anchor the temporary pier to the beach in Gaza to resume humanitarian operations. However, due to technical and weather-related issues, CENTCOM personnel were unable to re-anchor the pier to the shore … The pier and support vessels and equipment are returning to Ashdod where they will remain until further notice. A re-anchoring date has not been set.”

  • Saudia plane catches fire during landing at Peshawar airport; all passengers safe

    A Saudi Arabian Airlines aircraft caught fire while landing at Bacha Khan International Airport in Peshawar, Pakistan, on Thursday. Flight SV-792 was en route from Riyadh with 297 people on board. Saudi Arabian Airlines issued a statement confirming that all passengers were safely evacuated via inflatable emergency slides with no injuries reported. The aircraft is currently undergoing technical evaluation by specialists.

  • Lucid sees higher demand in Saudi Arabia, begins exports to UAE

    The demand for electric cars is increasing in Saudi Arabia, which is one of the company’s strongest markets in the world, due to the young generation’s awareness of the importance of sustainability and the efficiency, Faisal Sultan, Vice President and Managing Director of Lucid Group Middle East), told Argaam.