Business

Business jet flights have surged, reaching 23,612 in 2024, a significant increase from 19,000 in 2023. Domestic flights climbed by 26% to 9,206, while international flights rose by 15% to 14,406. This expansion was primarily driven by Saudi Arabia's major airport hubs. King Abdulaziz International Airport in Jeddah experienced a 30% rise in business jet traffic. Meanwhile, King Khalid International...

Saudi Arabia is actively seeking mining partnerships to secure essential minerals for industrial expansion, aligning with global consolidation trends. At the World Economic Forum, Minister Bandar Alkhorayef discussed the potential advantages of engaging in mergers. Despite limited success in past overseas ventures, Saudi Arabia sees new opportunities in the mining sector. The kingdom is interested in acquiring a stake in...

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Saudi Arabia's Derayah Financial has announced plans to launch an initial public offering (IPO) on Riyadh's main market, marking the first such announcement this year. The company intends to sell a 20% stake, equivalent to 49.94 million existing shares. The final price will be set after a book-building process. Co-founder and chairman Taha AlKuwaiz expressed enthusiasm about the IPO, highlighting...

Saudi Arabia's Mining Ambitions Face Investor Doubts Saudi Arabia is striving to establish a significant metals and mining hub, yet foreign investors remain more interested in Saudi funding rather than committing their own capital. During the recent Future Minerals Forum in Riyadh, several participants expressed interest in attracting Saudi investments instead of investing locally. They are awaiting tangible developments from...

Saudi Arabia's digital security firm, Elm Company, has announced its acquisition of Thiqah, a business services firm, from the Public Investment Fund (PIF) for 3.4 billion riyals ($906 million). This acquisition is part of Elm's strategy to enhance its position in the digital services sector. The deal was reached through a cash-based share purchase agreement with PIF, following discussions initiated...

Saudi Prince's Firm Avoids Crypto Investments Kingdom Holding, led by Saudi Prince Alwaleed Bin Talal, has decided against investing in cryptocurrencies due to their limited use in everyday transactions, as reported by Reuters. The Prince, known for a conservative investment strategy similar to Warren Buffett's, maintains a diversified portfolio of $13.6 billion, spanning sectors like finance, hospitality, and technology. CEO...

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The business jet sector in Saudi Arabia experienced a remarkable 24% increase in flight volumes in 2024, according to the General Authority of Civil Aviation (GACA). This announcement was made during a Saudi House aviation event at the World Economic Forum in Davos. Flight numbers grew from 19,000 in 2023 to 23,612 in 2024, with domestic flights rising by 26%...

Talent 360, a prominent HR solutions provider, has successfully secured a significant investment from C.STAR, a key player in Saudi Arabia's business development scene. This partnership is set to enhance Talent 360's footprint in the Kingdom, introducing innovative AI-driven HR solutions to revolutionize talent management and business operations. Since its market entry in mid-2024, Talent 360 has gained a diverse...

Saudi Arabia Home Furniture Market Overview The Saudi Arabia home furniture market is experiencing significant growth, driven by economic development, urbanization, and evolving consumer preferences. It was valued at USD 4.49 million in 2023 and is projected to reach USD 6.71 million by 2032, with a compound annual growth rate (CAGR) of 5.91%. This market encompasses a wide array of...

Saudi Arabia's Elm, a digital solutions firm, has announced its acquisition of Thiqah Business Services Co. from the Public Investment Fund (PIF) for $907 million. This strategic move aims to strengthen the nation's information and communications technology sector. In a cash deal, Elm will acquire all 45,000 shares of Thiqah, each valued at SR1,000. This acquisition supports Saudi Vision 2030...

Saudi Arabia and Palestine have agreed to form the inaugural Saudi-Palestinian Business Council to boost trade and investment between the nations. This decision was made during a meeting in Riyadh between Hassan Al-Huwaizi, head of the Federation of Saudi Chambers, and Mazen Ghanem, the Palestinian ambassador to Saudi Arabia. Al-Huwaizi emphasized the Saudi private sector's commitment to supporting Palestinian businesses...

Saudi Arabia's hydroponic farming sector is set for expansion as Arable, an agritech startup, secures $2.55 million in seed funding. The investment, largely from foreign backers, will support the Kingdom's agricultural development. Saudi Arabia faces challenges like limited water and harsh climates, which hydroponic farming can help address by boosting yields and conserving water. Arable's growth is driven by strategic...

The Saudi Export-Import Bank and Pakistan's Bank Alfalah have signed a $15 million agreement to enhance Saudi exporters' access to the Pakistani market, aiming to strengthen economic ties between the two nations. This financing deal is set to boost the flow and competitiveness of Saudi non-oil exports, opening new trade opportunities. It aligns with Pakistan's ongoing efforts to deepen trade...

Saudi Arabia has initiated the Exploration Enablement Program to enhance investments and competitiveness in its mining sector, selecting six companies for the first phase. These include Royal Road, Ajlan and Bros Holding, EV Metals Group, Ma'aden, Gold and Minerals Co., and Al-Masane Al-Kobra Mining Co. (AMAK). The program, launched at the Future Minerals Forum by the Ministry of Industry and...

Saudi Arabia's IPOs are leading the Gulf region's share sales, even as some recent listings have struggled. Notably, Nice One Beauty Digital Marketing and Alamosa Health saw strong trading debuts, maintaining prices above their initial offers. Despite a mixed performance for some Saudi listings over the past year, the Saudi stock market has outshone its Gulf counterparts in after-market performance...

Saudi Arabia's Sustainable Tourism Vision Shared at WEF Saudi Arabia's tourism industry is undergoing a significant transformation, prioritizing sustainability to ensure growth without harming natural environments and local communities. The country's tourism minister emphasized this commitment during a briefing at the World Economic Forum in Davos. Saudi Arabia collaborates with key global organizations, including the WEF and UN Tourism, to...

Saudi Arabia's Rize, a real estate tech firm, has successfully raised SR132 million ($35 million) in a Series A funding round to extend its operations beyond Riyadh. This round included both equity and debt and was spearheaded by Raed Ventures, with contributions from SEEDRA Ventures, Aqar Platform, JOA Capital, Nama Ventures, and HALA Ventures. Rize has partnered with Partners For...

Saudi Arabia has seen a significant rise in business activity, with a 60% increase in commercial records issued in 2024, totaling 521,969, as reported by the Ministry of Commerce. This marks a substantial jump from the 368,038 records issued in 2023. The Kingdom's strategy to diversify its economy beyond oil dependency is central to this growth. By 2030, the goal...

Saudi Arabia Leads GCC IPO Market with $4.1 Billion in 2024 Saudi Arabia emerged as a dominant force in the Gulf Cooperation Council's initial public offering market in 2024, securing $4.1 billion through 42 IPOs. This accomplishment marks the highest number of listings in the region. According to a report by The Kuwait Financial Centre (Markaz), the GCC's IPO proceeds...

Riyadh, the capital of Saudi Arabia, serves as a major hub for government activities, manufacturing, finance, and services. The public sector is the city's largest employer, with Saudis making up the majority of government workers. The private sector sees significant employment in services, construction, trade, and industry. As a financial and business center, Riyadh hosts the central bank and numerous...

Saudi Arabia is turning to Riyadh Air to boost tourism and diversify its economy. However, the airline's launch has been delayed due to Boeing's delivery issues. Initially, Riyadh Air had planned its debut for early 2025, but this has now shifted to the third quarter. The airline had ordered 39 Boeing 787-9 Dreamliners and expected eight deliveries this year. Now,...

The Weir Group and Olayan Saudi Holding Company have announced a joint venture to deliver mining technology solutions in Saudi Arabia. Revealed at the Future Minerals Forum in Riyadh, this partnership strengthens the companies' longstanding relationship. Weir will leverage its expertise in sustainable mining technology and sales, while Olayan will apply its local market knowledge. In the joint venture, Weir...

Saudi Arabia's oil giant is set to explore lithium mining within the country, reflecting a trend where traditional fossil fuel companies are investing in this vital component for the global shift to renewable energy. Saudi Aramco has announced a joint venture with the leading mining firm in Riyadh, spurred by the discovery of promising lithium deposits in its existing oil-producing...

Gulf states like the UAE and Saudi Arabia are setting ambitious goals to transition their economies from oil dependency to technological innovation. The UAE aims to be a leader in artificial intelligence, while Saudi Arabia is focusing on becoming a hub for startups in advanced fields such as robotics. However, these aspirations face challenges from geopolitical dynamics. Key topics in...

Britain is set to enter a minerals cooperation agreement with Saudi Arabia, aiming to enhance supply chains and attract investments to the UK. This partnership is expected to create new opportunities for British businesses. Importance of the Agreement The UK needs a stable supply of critical minerals like copper, lithium, and nickel. These materials are essential for manufacturing smartphones, electric...

Saudi-Japan Business Collaboration RIYADH — The Saudi-Japanese Joint Business Council convened in Riyadh, featuring key figures like Saudi Minister of Investment Khalid Al-Falih and Japan's Minister of Economy, Trade, and Industry, Motoo Yuji. Over 80 company and entity representatives from both nations attended. Japan's delegation comprised industrial, commercial, and financial experts focusing on modern technologies for Saudi markets. The meeting...

Ivanhoe Electric's Copper Discovery in Saudi Arabia Ivanhoe Electric Inc. has announced significant discoveries in its joint venture with the Saudi Arabian Mining Company, Ma’aden. The company has successfully identified a new copper zone in Saudi Arabia, thanks to its advanced Typhoon geophysical technology. This breakthrough highlights the potential of Ivanhoe's technology in swiftly locating mineral resources, enhancing its market...

Saudi Aramco has secured 145 agreements and memorandums of understanding valued at $9 billion during the opening of the In-Kingdom Total Value Add Forum and Exhibition 2025. These deals aim to boost the localization of products and services in Saudi Arabia, enhancing the local supply chain. The agreements support the objectives of the iktva program, which focuses on improving supply...