Business

Business registrations in Saudi Arabia experienced a significant 48% increase in the first quarter of 2025, with 154,638 new commercial records issued. This data, provided by the Ministry of Commerce, highlights the importance of commercial registration certificates for legal business operations in the Kingdom. These certificates are essential for opening bank accounts, hiring employees, and signing contracts. Most of these...

Sary, a Saudi-based B2B marketplace, has merged with Bangladesh’s ShopUp to form SILQ Group, supported by a $110 million funding round. This investment includes both equity and financing for SILQ Financial, the group’s financial services unit. Sary, launched in 2018, connects small businesses with manufacturers and lenders, while ShopUp, founded in 2016, links local shops with mills, brands, and manufacturers....

Saudi Arabia is advocating for enhanced global collaboration on technical standards and radio spectrum management to boost satellite investments, as discussed at the 40th Space Symposium in Colorado. The event, which included major industry figures from companies like SpaceX and Amazon’s Project Kuiper, highlighted Saudi Arabia's strategic position as a connectivity hub linking Europe, Asia, and Africa. CST Governor Mohammed...

Saudi Aramco has agreed with China's Sinopec to expand their Yasref petrochemicals facility on Saudi Arabia's west coast. This move is part of Aramco's strategy to strengthen its refining and chemicals operations, helping to balance fluctuations in global oil prices. The expansion includes plans for a mixed feed steam cracker with a capacity of 1.8 million metric tons per year,...

Accesso Technology Group PLC has been selected as the guest experience technology provider for the Qiddiya entertainment project in Saudi Arabia. Located southwest of Riyadh, Qiddiya covers over 300 square kilometers and is a key part of Saudi Vision 2030. It will feature attractions such as the Six Flags Qiddiya theme park and the Aquarabia water park. Accesso will implement...

Saudi Arabia is considering the launch of special purpose acquisition companies (SPACs) on its parallel market, Nomu, aiming to encourage more private sector listings and expand investment opportunities. The Capital Markets Authority (CMA) is seeking public input on a proposed regulatory framework for SPACs, part of a broader effort to deepen the capital market and diversify available investment products. The...

Saudi Arabia’s industrial sector marked a notable advance with the launch of 103 new factories in January, drawing investments of SR900 million and creating over 1,500 jobs. This progress reflects the nation’s broader push to expand its industrial base as part of ongoing economic diversification efforts. The Ministry of Industry and Mineral Resources also granted 63 new industrial licenses that...

SS&C Technologies has expanded its international reach by opening a new office in Riyadh, Saudi Arabia. This move is aimed at strengthening relationships with key financial regulators in the region and enhancing support for local clients. Currently, SS&C serves 850 financial and corporate clients across the Middle East, including 150 in Saudi Arabia. The company provides advanced software and services...

SS&C Technologies Holdings has expanded its presence in the Middle East with a new office in Riyadh, Saudi Arabia. This move aims to strengthen the company's relationships in the region, particularly with the Capital Markets Authority and the Saudi Arabian Monetary Agency. The new location is expected to support SS&C's growth and deepen its engagement within the Saudi financial sector.

Artificial intelligence is playing a bigger role in the beauty industry, with companies in Saudi Arabia and worldwide adopting new technologies to improve customer experiences. Glamera, a company that started in Egypt and now operates in several Saudi cities, uses AI to tailor service recommendations by analyzing users’ preferences and behaviors. Augmented reality is also gaining ground, letting consumers virtually...

Saudi Arabia is experiencing a surge in mergers and acquisitions, significantly reshaping its business environment. The General Authority for Competition's approval of economic concentration requests is playing a crucial role in this transformation, promoting market consolidation and growth. This increase in approvals, up 17.4% in 2024, reflects the Kingdom's commitment to enhancing market competition, preventing monopolies, and fostering a robust...

Saudi Arabia has introduced new Commercial Pledge and Trade Names Systems to modernize its business environment, part of the Vision 2030 initiative. These systems, effective April 3, 2025, aim to simplify commercial operations and boost economic growth. The Ministry of Commerce highlights that the new systems streamline procedures by introducing a unified commercial register, eliminating branch registers. This change reduces...

Saudi Arabia is implementing significant updates to its business registration process with the introduction of the new Law of Commercial Register and Law of Trade Names. These changes will eliminate the need for subsidiary registers, requiring only a single commercial register valid across all regions. This move aligns with the nation's strategy to diversify its economy and boost private sector...

Despite a global decline in CEO confidence, leaders in Saudi Arabia remain optimistic about their country's prospects and their companies' revenue growth, as revealed by PwC's annual CEO Survey. Saudi Arabia's economic diversification strategy is proving effective, boosting business leaders' confidence in the Kingdom's future. The survey compared the perspectives of Saudi CEOs with those from the Middle East and...

Consumer spending in Saudi Arabia is expected to remain strong, driven by a young, digitally savvy population and ongoing economic reforms. Experts highlight that millennials and Gen Z are fueling demand for e-commerce and cross-border shopping, with digital platforms making premium goods more accessible. Strategic government investments and efforts to diversify the economy are significantly boosting consumer confidence and spending....

Consumer spending in Saudi Arabia is projected to remain strong, supported by a youthful population and digital growth. Sunil Kumar, CEO of Spinneys, forecasts a 6.4% annual growth rate in consumer spending in Saudi Arabia from 2022 to 2028, compared to 4.3% in the UAE. Kumar's insights are echoed by a report from AlixPartners, noting Saudi Arabia's consumer market is...

Saudi Arabia's Vision 2030 aims to create a more business-friendly environment, attracting both local and international investors. The government has simplified business setup processes through reforms like streamlined licensing, tax incentives, and better legal protection for foreign investments. Foreign entrepreneurs entering the Saudi food and beverage market must navigate specific legal processes. Two common scenarios include launching a new restaurant...

Businesses in Riyadh experience a surge in activity during Ramadan, as shoppers seek items that enhance their celebrations. Traditional products such as lanterns, dates, and fabrics see higher demand, reflecting the importance of cultural customs during this period. A visit to Al-Magliah market revealed that clothing retailers, in particular, benefit from the season. Shops offering undergarments for thobes, as well...

Tesla is set to enter the Saudi Arabian market, marking a significant step for the company as it faces industry challenges. The electric vehicle maker will host a launch event in Riyadh, where it plans to highlight advancements in artificial intelligence and robotics, including demonstrations of the Cybercab and the Optimus humanoid robot. Tesla representatives will also be available to...

Saudi Arabia has introduced new incentives to draw foreign investment into its mining sector, supporting ongoing economic diversification plans. The Ministry of Investment, in collaboration with the Ministry of Industry and Mineral Resources, has launched a program to simplify mineral exploration investment. This move aims to make the sector more attractive for both domestic and international companies. The government plans...

Spain's Tecnicas Reunidas and Egypt's Orascom have won a $2.6 billion contract to expand a major gas-fired power plant in Saudi Arabia. The project will increase the plant's capacity to 3 gigawatts and introduce carbon capture infrastructure, alongside a new 380-kilovolt substation. This contract, structured as an equal partnership between the two companies, adds to a series of recent deals...

A consultant, Steven Catudal, spent six months working in Riyadh, Saudi Arabia, where he experienced intense heat and a unique work environment that altered his perspective on his career. Catudal, who has worked on projects in various countries, was drawn to the Middle East. He seized the opportunity to work in Riyadh through his firm, Oliver Wyman, with the process...

Pokemon GO, launched in 2016, transformed mobile gaming by encouraging players to explore real-world locations in search of virtual creatures. The game quickly became a cultural phenomenon, turning public spaces into gathering spots for millions of fans. Now, the ownership of Pokemon GO is set to shift, as Saudi Arabia secures a significant stake in Niantic’s business through Scopely, a...

Al Waha: Enhancing Saudi Arabia's Travel Retail Sector Saudi Arabia's Public Investment Fund (PIF) has launched Al Waha, a company focused on duty-free retail, to strengthen the kingdom's presence in the global travel market. This initiative aligns with Saudi Arabia's Vision 2030 strategy to diversify its economy and enhance its tourism infrastructure. Strategic Expansion in Travel Retail Majed Al-Assaf of...

Taiba Investments, a prominent hospitality group in Saudi Arabia, has appointed Jummar as its communications and public relations consultant. Established in 1988, Taiba Investments is a key player in Saudi Arabia's hospitality and real estate sectors, managing around 40 properties. These include notable brands like Makarem, Dur Communities, Al Aqeeq Hotels, and Nur by Makarem, alongside collaborations with global hotel...

PwC, a leading global accounting firm, is actively seeking to restore its relationship with Saudi Arabia and its sovereign wealth fund. This effort involves collaboration with the kingdom, as reported by sources familiar with the situation. The Public Investment Fund (PIF) of Saudi Arabia, a significant client for PwC, has paused activities with PwC's holding company, though its portfolio companies...

Saudi Arabia recently hosted a delegation of 40 companies from Central Asia to enhance cross-border investment and trade partnerships. Organized by IDR Australia and UDI Group, the event gathered Saudi business leaders and Central Asian counterparts to explore collaborative opportunities. The meeting featured B2B discussions, investment matchmaking, and industry dialogues, aligning with Saudi Vision 2030 and the growth goals of...

The recent mission to Saudi Arabia involved high-level discussions aimed at enhancing business and trade opportunities. In Jeddah, the delegation engaged with leaders from the Jeddah Chamber of Commerce, including Eng. Raed Al-Madhihim, focusing on expanding trade relations. They also explored partnerships with NERA in areas like airspace management and cybersecurity, and discussed AAM infrastructure advancements with Saudia Group executives....

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...