Business

Riyadh, KSA: TASC, a top provider of business and workforce solutions in the GCC, has introduced a new co-working space in Riyadh, Saudi Arabia. This initiative supports Saudi Arabia's Vision 2030 by meeting the evolving needs of businesses and aiding the Kingdom's transformation goals. Small and medium-sized enterprises (SMEs) play a crucial role in Saudi Arabia's economy, currently contributing 20%...

ATPI Group, a UK-based company, has formed a new alliance with Arjaa Travel, a corporate travel agency in Saudi Arabia, to expand its reach in the Middle East. Arjaa Travel, part of the Almajdouie Group in Al Khobar, specializes in various sectors, including energy, marine, mining, corporate services, sports, and events. This partnership will integrate the travel management services of...

UK-based ATPI Group has formed a strategic alliance with Saudi Arabia's Arjaa Travel to enhance its footprint in the Middle East. Arjaa Travel, part of the Almajdouie Group in Al Khobar, specializes in diverse sectors including energy, marine, and corporate events. This partnership will combine their corporate travel management offerings, integrating ATPI's tech platforms and customer support. Lynn Coutts, ATPI's...

Rotana, a prominent hotel management company in the MENAT region, has announced its ambitious expansion plans at the Saudi Tourism Forum. The company is set to develop 36 new properties across 22 cities in the Middle East, Africa, Europe, and Türkiye, with a particular focus on Saudi Arabia. In Saudi Arabia, Rotana plans to significantly increase its presence by tripling...

Maaden and Alba's Aluminum Deal Talks End Negotiations between Saudi Arabia's Maaden and Bahrain's Alba to form a major aluminum entity have concluded without a deal. Alba's shares fell by 8.6% in Bahrain, while Maaden saw a 0.7% decrease. Maaden had proposed to transfer its entire share capital from two subsidiaries—Maaden Aluminium Co. and Maaden Bauxite and Alumina Co.—to Alba...

The Saudi government has earmarked SR10 billion for the Standard Incentives Program aimed at boosting the industrial sector. This move, approved by the Council of Ministers, is designed to foster industrial investment and sustainable growth while enhancing global competitiveness. Details of the incentives were revealed by the Ministry of Industry and Mineral Resources and the Ministry of Investment. Key figures...

Investor optimism and improved regulatory frameworks are set to drive Saudi Arabia's IPO market in 2025, according to industry experts. January saw two significant IPOs in the kingdom, with Almoosa Health and Nice One experiencing substantial trading gains. Nice One, considered Saudi's first unicorn, exemplifies the rising investor appetite. Zaid Ghoul from SNB Capital highlighted Nice One's performance as a...

Saudi Gazette Report RIYADH — The initiative to relocate regional headquarters of global companies to Saudi Arabia is advancing successfully, according to Investment Minister Eng. Khalid Al-Falih. He stated that 571 international companies have been licensed to establish headquarters in the Kingdom, primarily at the King Abdullah Financial Center in Riyadh. These companies are predominantly from the industrial sector, which...

Saudi Arabia is poised for growth in its entertainment sector, driven by initiatives to support 32 startups and foster innovation. The General Entertainment Authority (GEA) has introduced the third edition of its accelerator program, which provides consulting, mentorship, and international exposure to participating startups. This program will support two groups of 16 businesses each, offering 192 hours of expert guidance,...

The video game industry in Saudi Arabia is rapidly growing and is expected to significantly contribute to the Kingdom's economic diversification goals, according to experts. The gaming sector is being recognized as a major entertainment vertical, second only to video and TV streaming globally. Povilas Joniskis from Boston Consulting Group highlights the Kingdom's young population as a driving force behind...

Lloyd’s Register (LR) has secured a contract with the Saudi General Ports Authority (Mawani) to enhance management systems and prepare for certification at four major Saudi ports. This initiative aims to boost operational efficiency and solidify Saudi Arabia's role in global trade. This collaboration is part of Mawani's strategy to improve port operations and increase international market exposure, ultimately promoting...

Saudi Arabia has emerged as the foremost hub for venture capital in the Middle East and North Africa (MENA), securing $750 million in 2024. This achievement marks the second year in a row that the Kingdom leads the regional VC landscape. According to MAGNiTT, Saudi Arabia represented 40% of MENA's venture capital investment, with a 16% increase in deal activity....

Saudi Arabia is experiencing a significant rise in mergers and acquisitions, with a 17.4% increase in approvals, highlighting efforts to enhance its competitive business landscape. The General Authority for Competition (GAC) reported 202 approved economic concentration requests, marking a record high, while 10 applications are still pending. These approvals are crucial to prevent monopolies and maintain market competition. This increase...

Saudi Aramco, the leading global oil exporter, has increased its crude prices for Asian markets for February. This marks the first rise in three months, coinciding with OPEC+ extending production cuts and reduced supplies from Russia and Iran. The official selling price for Arab Light crude has been raised by 60 cents, reaching $1.50 per barrel above the Oman/Dubai benchmark....

Saudi Arabia's non-oil business sector experienced robust growth in December, despite a slight slowdown from the previous month. A recent survey highlights this trend. The Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) decreased to 58.4 in December from November's 59.0. Nonetheless, the PMI remains well above the growth threshold of 50.0. New orders increased for the fifth month in...

Significant developments in Saudi Arabia's poultry industry are underway, promising substantial growth and environmental advancements. A major water company has initiated a project expected to increase egg production by over 450%, reaching 165 million eggs annually. This endeavor is supported by a 12.31 million riyal investment from Naqi Water Company, collaborating with Belad Al Sham Contracting Company. The project commenced...

Saudi Arabia Unveils New Business Registration and Trade Name Laws Saudi Arabia has introduced new legislation aimed at simplifying the commercial registration and trade name processes, described as a transformative step for entrepreneurs. These laws, approved recently, are poised to boost business efficiency and enhance the commercial climate. Experts highlight that these regulations will particularly benefit small businesses, including those...

State Street Corporation has named Majed Al Hassoun as the country head for Saudi Arabia and Bahrain. Al Hassoun will focus on expanding the company's business in the Middle East. He will report to Oliver Berger, head of emerging growth markets, and Emmanuel Laurina, head of Middle East, Africa, and official institutions. Based in Riyadh, Al Hassoun is set to...

Saudi Arabia is channeling significant resources into green innovation, aiming to transform its arid landscapes. However, concerns about potential greenwashing highlight the complexities of converting ambitious initiatives into genuine climate solutions. Riyadh is currently the venue for the United Nations COP16 conference, focusing on drought and desertification—critical issues for the kingdom. Saudi officials have committed to restoring 40 million hectares...

Saudi Arabia has made significant strides in entrepreneurship, ranking third in the Global Entrepreneurship Monitor for 2023-2024. The National Entrepreneurship Context Index score has risen from 5.0 in 2019 to 6.3 in 2023, showcasing progress in building a robust entrepreneurial ecosystem. The country boasts a young and talented population, with 63% under 30, fostering a dynamic environment for emerging entrepreneurs....

China Telecom has expanded its international presence by launching China Telecom Gulf in Riyadh. This development aligns with the "Belt and Road Initiative" and aims to foster a "China-Arab Community with a Shared Future." The launch event was attended by over 100 dignitaries, including Mr. Liu Guiqing, Executive Director of China Telecom, and Mr. Fawaz from the Chinese Companies Contact...

China Telecom Gulf has officially commenced operations in Riyadh, marking a significant step in China Telecom's international expansion. This launch aligns with the "Belt and Road Initiative" and aims to foster a "China-Arab Community with a Shared Future." The event was attended by over 100 guests, including leaders from various sectors. In his speech, Mr. Liu Guiqing, Executive Director and...

The recent collaboration between Vogue Business and the Saudi Fashion Commission during London Fashion Week highlighted the burgeoning fashion and investment opportunities in Saudi Arabia. The event, featuring key figures from the Saudi government and international brands, focused on the Kingdom's supportive measures for foreign luxury brands entering its market. The event featured two roundtable discussions. The first, moderated by...

Saudi Gazette Report RIYADH — Investments in Saudi Arabia's industrial sector surged by 54%, reaching SR 1.5 trillion this year from SR 992 billion in 2019. This growth is attributed to the state's decision to waive fees for expatriate workers in the industrial sector, a policy enacted in 2019 and extended until the end of 2025. An analytical report from...

The Saudi Fashion Commission has released its 2024 State of Fashion Report, highlighting the significant growth in the Kingdom's fashion industry. The report, unveiled during an investment tour in London sponsored by the Fashion Futures initiative, was presented in a custom-designed briefcase by Saudi brand 1886. This publication offers a fresh look at Saudi Arabia's fashion landscape, detailing trends and...

Italy's exports to Saudi Arabia prominently feature fashion, food, and furniture. Italian companies see promising opportunities in sectors like wood, furniture, transportation, and electrical equipment, as highlighted at the "Exporting Digitally - Focus Saudi Arabia" event in Rome, organized by Promos Italia and Sace Education. Saudi Arabia is recognized for its political and economic stability, making it an attractive market....

The Saudi Fashion Commission has unveiled its annual report, the State of Fashion Sector in Saudi Arabia 2024, providing key industry insights and data on the burgeoning Saudi fashion industry. Presented at an investment event in London, the report was showcased creatively, featuring a custom-designed bag by Saudi brand 1886. This report offers a comprehensive look at the Saudi fashion...

Golf Saudi has partnered with Topgolf Callaway Brands to introduce golf entertainment venues and innovative products in Saudi Arabia. This collaboration aims to engage a broader audience and advance golf's future in the rapidly growing Saudi golf ecosystem. Topgolf plans to open three new facilities in Riyadh, Jeddah, and the Eastern Province, with further expansions planned across the country. Topgolf’s...

Saudi Agricultural Fund Enhances Food Sector with $533 Million Support Saudi Arabia’s Agricultural Development Fund has committed SR2 billion ($533.33 million) to bolster food sustainability and security across the nation. This funding will aid various agricultural projects, including red meat and poultry production, greenhouse farming, fish aquaculture, and cold storage. The decision was made during the fund’s third board meeting...

Saudi Arabia's crude oil production rose to 8.94 million barrels per day (bpd) in July, marking a 1.26% increase from June, according to the Joint Organizations Data Initiative. Despite this rise, crude exports fell by 5.06% to 5.74 million bpd. Domestic petroleum demand increased by 79,000 bpd, reaching 2.83 million bpd. During a virtual OPEC+ meeting, member countries reaffirmed their...