Business

While startups in many regions grapple with a scarcity of funding, Saudi Arabia's burgeoning pipeline of initial public offerings (IPOs) is poised to kindle investor enthusiasm for ventures often deemed too perilous. This comes during a period marked by global reticence in the IPO arena.In contrast to the global pullback, Gulf nations have been briskly producing IPOs, defying the broader...

As Gulf nations seek to expand their economic horizons beyond the oil sector, they have set their sights on the global mining industry, channeling substantial financial resources into acquiring critical minerals needed for clean energy production. This strategic move is reshaping the landscape of the mining sector and providing an alternative to the traditional dominance of Western and Chinese interests.In...

Lazard Inc. has strategically expanded its workforce by acquiring the expertise of Ali Syed, a former Citigroup Inc. managing director. Syed is renowned for his extensive experience in managing relationships with sovereign-wealth funds and pension funds across varied regions, including the Middle East, Asia, and North America.According to sources acquainted with the situation, Syed will soon become part of Lazard’s...

Riyadh Air, the Saudi Arabian carrier that is fully owned by the Public Investment Fund (PIF), has announced a strategic collaboration with Artefact, a premier global data and AI transformation consultancy. This alliance is set to bring a wave of AI-driven enhancements to the aviation sector. According to a press release from Riyadh Air, the partnership will be instrumental in...

At the helm of the Saudi Stock Exchange, Sarah Al-Suhaimi stands as a pioneering figure, having broken through the financial industry's glass ceiling by becoming its first female chairperson at the age of 44. Her ascent into this role is a testament to the shifting dynamics of women's participation in Saudi Arabia's corporate sector.With a foundation of excellence, Al-Suhaimi graduated...

In a groundbreaking year for its travel sector, Saudi Arabia achieved a significant milestone, with foreign visitors' expenditures soaring to new heights. According to initial figures from the Saudi Central Bank, international guest spending reached an unprecedented SAR135 billion (equivalent to $36 billion) in 2023, a 42.8% rise from the previous year. The substantial increase in visitor spending symbolizes the...

Saudi Arabia has been lauded for its role as the chair of the World Trade Organization's Dispute Settlement Body (DSB), a testament to its global prestige, economic clout, and the trust bestowed upon it by the international community. In a recent interview with Al-Ekhbariya TV, Saqer Abdullah Al-Moqbel, Saudi Arabia's permanent representative to the WTO, highlighted the nation's proactive efforts...

Saudi Arabian Plastic Pipes Market Set for Robust ExpansionThe plastic pipes sector in Saudi Arabia is on the brink of a substantial growth spurt, driven by the government's ambitious infrastructure projects. The upcoming years, specifically from 2024 to 2028, are expected to showcase a remarkable increase in market size, with forecasts predicting a substantial compound annual growth rate (CAGR).Aggressive Infrastructure...

MoneyGram International, Inc., a leading player in the global fintech industry, has unveiled a strategic collaboration with the innovative FinTech application barraq. This alliance is set to revolutionize how consumers in Saudi Arabia manage their international transactions.With the integration of MoneyGram's advanced cross-border technology, users of the barraq mobile app can now effortlessly send money to friends and relatives across...

Dolce & Gabbana has unveiled an ambitious expansion plan in the Middle East, with a sharp focus on taking advantage of the burgeoning market opportunities in Saudi Arabia.At the heart of this expansion is the launch of a new flagship store in Riyadh, Saudi Arabia's capital and commercial nucleus. In a strategic move, the luxury fashion brand is entering into...

The economic landscape of Saudi Arabia is undergoing a significant transformation, presenting a complex mix of opportunities and challenges for India. This shift, characterized by the Kingdom's decreasing reliance on oil, has seen non-oil sources making up almost half of its gross domestic product (GDP). This diversification away from oil heralds a new era of potential collaboration and competition within...

According to a recent study, the allure of smart, interconnected urban environments could significantly enhance the contentment of their residents. A Mastercard assessment brings to light the synergies between human aspirations and the forward march of technology in shaping the metropolises of tomorrow in the Middle East. By the midpoint of the century, urban dwellers are expected to constitute two-thirds...

Saudi Arabia is taking a significant stride towards fulfilling its Vision 2030 with the launch of the Integrated Maritime Service (IMS) at King Abdul Aziz Port. The initiative is a key part of the country's plan to evolve into a diversified, innovative economy, and establish itself as a leading investment hub. A pivotal element of this transformation is the enhancement...

The Kingdom of Saudi Arabia has been making notable strides in economic development, which has resulted in a surge of indirect investment opportunities within its stock market, according to insights from a senior official at EFG Hermes, a MENA-centric investment bank.Research head Ahmad Shams El Din, during a televised dialogue, mentioned that these new investment openings are fueled by the...

In the bustling Abi Al-Saud district, the majestic Historical Palace of the Emirate stands as a testament to Najran's storied past and cultural richness. Erected in the year 1944, this structural marvel spans 625 square meters and showcases the exceptional craftsmanship of its creators. The palace, which served as the administrative headquarters for the Emirate of Najran, is a remarkable...

Tim Callen, renowned for his tenure at the International Monetary Fund (IMF), is recognized as an authority on the economies of oil-exporting nations, particularly within the Gulf Cooperation Council (GCC). With a wealth of experience, he has made significant contributions to the discourse on economic diversification, fiscal policies, and exchange rate strategies.During his tenure at the IMF from 2012 to...

The Saudi Arabian startup Rize is poised to revolutionize the 'rent now, pay later' (RNPL) sector and is on track to significantly improve the efficiency of real estate transactions in the region.Recognizing the high upfront costs that renters face in Saudi Arabia, Rize, founded by Ibrahim Balilah and Mohammed Al-Fraihi in 2021, has introduced a service that allows tenants to...

The prestigious King Faisal Specialist Hospital & Research Centre (KFSH&RC) has recently been honored with five research grants as part of an initiative aimed at reactivating and upgrading existing laboratories. This initiative is steered by the Research, Development and Innovation Authority with a goal to energize local research efforts, forge a significant economic impact, and support the Kingdom's Vision 2030...

With the United Kingdom's economy experiencing a period of stagnant growth and a noticeable decrease in metropolitan transactions, numerous top-level executives are setting their sights on Saudi Arabia, seeking out fresh opportunities for business ventures and financial backing.First-time visitors are often taken aback by the country's rapid westernization, while those returning after an absence are equally surprised by the transformation....

In the dynamic realm of science and innovation, Saudi Arabian women are making landmark achievements, supported by robust educational and professional groundwork. Tailored educational opportunities for women and partnerships with renowned global entities have greatly enhanced their capacity to contribute significantly to societal progress and humanity, especially within the fast-paced world of tech and artificial intelligence.The Technical and Vocational Training...

Saudia, Saudi Arabia's esteemed national airline, has once again been honored with the highest accolade in the Kingdom, leading the YouGov Best Brand Rankings for the third year in a row with an impressive score of 59.4. The YouGov evaluation employs a robust index score that gauges a brand's overall health. This is computed by averaging various metrics such as...

Saudi Arabia is in the midst of an ambitious economic transformation, with the burgeoning space industry taking center stage as a key driver for innovation and investment. The global space economy, currently on a trajectory to reach a staggering $1 trillion in value, saw the Saudi space industry contribute a significant $400 million in revenue in 2022. Forecasts suggest this...

The financial involvement of a single investment fund is not a solid foundation for a bullish outlook on Lucid Group's stock. It is crucial for wise investors to consider the comprehensive landscape when evaluating a company's prospects. Despite the monetary backing from a significant investor, Lucid Group's stock is graded poorly.Diminishing enthusiasm for electric vehicles (EVs) places manufacturers like Lucid...

In a notable collaboration between a top-tier hospitality corporation and a Saudi Arabian public investment enterprise, a trio of unique resort experiences are set to be introduced in the culturally rich Al-Ahsa region. A signing event in Saudi Arabia, attended by prominent leaders from Hilton, sealed the deal with Dan Company, a Public Investment Fund company, to operate three distinct...

Apar Industries Ltd recently announced through a stock exchange filing that it is in the process of forming a fully owned subsidiary company, named Apar Industries Middle East Ltd. This new venture will be based in Saudi Arabia and will focus on the production of lubricants that are essential for machinery and automotive engines.Before operations can start, the newly established...

The robust earnings announcement from The National Shipping Company of Saudi Arabia seemed to have little impact on the company's stock market performance. A closer examination reveals that this could be attributed to potential red flags in the underlying figures that shareholders might be apprehensive about.Notably, a significant portion of the company's profit, to the tune of SAR 214 million,...

The United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) have achieved remarkable placements in the Global Entrepreneurship Monitor report for 2023-2024, with the UAE securing the top spot and KSA following closely in third place. The prestigious report evaluates the vibrancy of entrepreneurial ecosystems across the globe and is esteemed by international entities including the World Bank,...

The Manga Arabia enterprise, under the umbrella of the Saudi Research and Media Group, has been commended by the Japanese Patent Office for its active participation in a digital campaign aimed at thwarting electronic piracy while bolstering the enforcement of intellectual property (IP) rights. The initiative, spearheaded by the patent office in collaboration with the International Intellectual Property Protection Forum...

In a significant development, AuKing Mining Ltd has joined forces with Barg Alsaman Mining Company (BSMC) to explore and develop mineral projects in Saudi Arabia. The CEO of AuKing Mining, Paul Williams, discussed the memorandum of understanding (MoU) with the media, highlighting the importance of this alliance for the company's future growth.The collaboration aligns with AuKing Mining's strategy to diversify...

The recent assembly of Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman with Azerbaijan’s Environment and Natural Resources Minister Mukhtar Babayev marked a significant step towards climate change collaboration. Their meeting on Thursday was not just a routine gathering but also a precursor to Babayev's leadership role in the upcoming UN COP29 climate discussions, set to take place in Baku...