Business

The Saudi capital recently welcomed key figures in civil aviation for a significant conference aimed at reinforcing regional aviation safety. The General Authority of Civil Aviation (GACA) played host to the 10th session of the Executive Steering Committee for the Cooperative Aviation Security Programme Middle East (CASP-MID). The gathering was presided over by CASP-MID Chairman and GACA's Executive Vice-President for...

Saudi Arabia is steering its industrial sector's attention towards smaller investors, according to the nation's Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef.In an interview with Al-Ekhbariya TV, the minister highlighted that the ministry is offering a financing program designed with lenient criteria to assist small-scale investors and budding entrepreneurs.AlKhorayef pointed out that the industrial cities' business model,...

The Saudi Arabian government is channeling a significant segment of its $3.3 trillion investment, earmarked for the economic overhaul envisaged in Vision 2030, into developing the nation's human capabilities. The Minister of Investment underscored the critical nature of this endeavor, highlighting education as a fundamental investment sector.During a prominent event in Riyadh dedicated to the Human Capability Initiative, he emphasized...

The Jeddah Historic District Program, backed by the Ministry of Culture and facilitated by Al Balad Development Company—a subsidiary of the Public Investment Fund (PIF)—has proudly inaugurated the first set of three heritage hotels in the Jeddah Historic District.These hotels have undergone meticulous restoration and rehabilitation to maintain their distinctive architectural characteristics. This process was carried out in accordance with...

Business leaders in Saudi Arabia are setting the stage for a year of growth with anticipated salary hikes, recruitment drives, and a return to office environments, as per insights from the Hays Middle East Salary Guide for the Kingdom.The comprehensive guide outlines salary details for over 200 positions within 11 professional fields. It draws on the expertise of industry specialists...

During the esteemed Mobile World Congress Barcelona 2024 in Spain, a pivotal Memorandum of Understanding (MoU) was inked between Ericsson and stc Group's iot squared. This agreement signifies the introduction of Ericsson's innovative Connected Recycling (ECR) platform as a cutting-edge Software-as-a-Service within the Kingdom of Saudi Arabia (KSA).The collaboration aims to heighten the consciousness of effective waste management practices and...

BAKU, Azerbaijan – In a recent development, Azerbaijan's Economy Minister has engaged in discussions with Saudi Arabian counterparts to explore avenues for enhancing collaborative investments. The dialogues aim to deepen the economic connections between the two countries, with a particular focus on tourism and investment sectors. The meeting with Saudi Arabia's Minister of Hajj and Umrah led to a mutual...

Riyadh-based global advisory firm FTI Consulting, Inc. has secured a significant authorization, a Regional Headquarters License (RHQ), from the Saudi Ministry of Investment. This accreditation affirms the company's dedication to enlarging its operations and enhancing client relations within Saudi Arabia and the broader Middle East region. A senior executive, Vikas Papriwal, who leads FTI Consulting in the Middle East and...

Anticipation is building in Saudi Arabia as the Tourism Development Fund (TDF) and New Murabba Development Co. join forces, paving the way for increased financing and investment initiatives in the Kingdom's ambitious new downtown project. The collaboration, cemented with a memorandum of understanding (MoU), is set to propel the nation's socio-economic advancement with the development of New Murabba, located to...

Airbus has announced a series of new contracts for their rotorcraft division, with purchases coming from entities in Saudi Arabia, Germany, and West Virginia.In a significant boost for the European aerospace conglomerate, the Helicopter Company, which is wholly owned by the Public Investment Fund of Saudi Arabia, has entered a comprehensive agreement. This pact includes a confirmed order for eight...

Airbus has confirmed a series of new orders for its helicopters from several international entities, including a company under the ownership of Saudi Arabia's sovereign investment authority, a German emergency medical service operator, and a medical aviation service provider in West Virginia.The European aeronautical firm announced that it has entered into a framework agreement with Helicopter Company, wholly owned by...

In the Kingdom of Saudi Arabia, the labor market is experiencing a surge of activity, with a significant majority of employers set to bolster their teams. A recently released report indicates that a substantial 69% of companies in the region are preparing to expand their workforce during the current year.The findings, disclosed by a prominent recruitment agency in its annual...

Riyadh, KSA: A recent study by PwC has unveiled a strong sense of assurance among Saudi Arabian CEOs regarding the economic upswing of the Kingdom, with anticipation surpassing that seen on a global scale, as well as within the Middle East and Gulf Cooperation Council (GCC) regions. The Kingdom's gross domestic product (GDP) soared past the US$1 trillion milestone in...

A recent revelation has confirmed that Saudi Arabia's Jafurah field has experienced a significant increase in its gas reserves. The nation's Energy Minister, Prince Abdulaziz bin Salman, announced that the field's reserves have grown by an additional 15 trillion standard cubic feet of gas. This brings the total reserves at Jafurah to a staggering 229 trillion cubic feet of gas,...

The Saudi Ports Authority, also known as Mawani, recently held a ceremony to acknowledge the accomplishment of critical financial targets set by the Expenditure & Projects Efficiency Authority. The event recognized the outstanding contributions of various individuals who played a pivotal role in achieving these objectives. At the ceremony, which featured Mawani's President, Omar Hariri, and the CEO of the...

Top officials from the Kingdom of Saudi Arabia and the State of Qatar recently convened to discuss the future of their collaboration in the digital sphere. The Minister of Communications and Information Technology from Saudi Arabia, Eng. Abdullah bin Amer Al-Swaha, met with his Qatari counterpart, Mohammed Al-Mannai, in Doha.Key points on their agenda included the expansion of strategic partnerships...

The Ministry of Energy in Saudi Arabia has heralded a significant stride in the nation's energy sector with the successful introduction of Euro 5 standard clean diesel and gasoline across its markets, marking a departure from earlier fuel types. These advanced fuels are designed to be compatible with all modes of transportation, and are part of the Kingdom's ambition to...

Tejoury, a prominent Saudi firm specialized in records management and digitalization, has recently inaugurated a new pivotal hub at Dubai Investments Park (DIP). This strategic expansion is in line with the company's vision to broaden its reach across the entire Middle East, as revealed in a recent announcement. Occupying a substantial area of 5,000 square meters, the Dubai-based facility of...

The fintech sector in Saudi Arabia is undergoing a significant evolution, driven by the country's strategic Vision 2030 objectives and an increasing demand for digital financial services. A detailed analysis by Ken Research predicts a robust growth for this sector, with an expected compound annual growth rate (CAGR) of 12.5% over the next five years. This expansion offers a wealth...

Consulum, a renowned strategic advisory firm with over ten years of service in the Kingdom, recently inaugurated their advanced regional headquarters in Riyadh. The capital city, known as a burgeoning nexus for commerce and the epicenter of the region's extensive development initiatives, provides a fertile ground for businesses to flourish within the dynamic commercial milieu of the Kingdom.Choosing Riyadh as...

The inaugural segment of Saudi Arabia's visionary urban project, The Line at NEOM, is anticipated to reach completion in the year 2030, as per a top official involved with the initiative.A recently shared progress update video from NEOM features Chief Development Officer Denis Hickey affirming the project's commitment to achieving its bold development milestones.Hickey remarks, The first phase of The...

A comprehensive report titled "Saudi Arabia In-Vitro Diagnostics Market (By Technology, Application, Product, End User), Size, Share, Major Deals, Government Initiatives, Key Company Profiles, Revenue, Recent Developments - Forecast to 2030" has recently been made available, shedding light on the expected expansion of the in-vitro diagnostics (IVD) sector in Saudi Arabia. The market is projected to experience a significant increase,...

Red Sea Global (RSG), renowned for spearheading regenerative tourism through The Red Sea and Amaala initiatives, has made a foray into the music industry with the launch of its inaugural 'Red Sea Waves' album, courtesy of Red Sea Studios. Under the guidance of Senior Manager Adham Alzanbagi, the Red Sea Studios' creative ensemble has meticulously crafted a musical anthology that...

ROSHN Group, the premier real-estate developer in Saudi Arabia backed by the Public Investment Fund (PIF), has proudly declared its role as the sponsor for the 10th anniversary of the influential Retail Leaders Circle (RLC) MENA Summit. Slated to take place on February 19-20, the summit will unfold at the Ritz Carlton in Riyadh.The RLC MENA Summit has established itself...

An in-depth report on the Saudi Arabia HVAC TAB Services Market reveals a comprehensive analysis of factors propelling business growth, market risks, and emerging trends. It includes a thorough review of technological advancements and offers a detailed examination of market size, competitor landscapes, and SWOT and PESTLE analyses. The report delves into the growth catalysts of the industry, examining Saudi...

Comprehensive Analysis of Saudi Arabia's HVAC TAB Services Sector reveals a detailed exploration of the factors that bolster business growth, address challenges, and spotlight emerging trends. The report provides a well-rounded view of the market size and technological advancements, complete with SWOT and PESTLE analyses. A deep dive into the market reveals growth catalysts, tech trends, and profiles of leading...

In a significant development for the tourism industry in Jeddah, Saudi Arabia, an initiative has been launched to operate heritage hotels within the city's prestigious Historic District. This strategic move is supported by the Saudi Ministry of Culture and will be executed by Al Balad Development Company, a firm owned by the Public Investment Fund (PIF). The objective is to...

The industrial landscape of Saudi Arabia has witnessed a significant upsurge with a 10 percent increase in the number of operational factories by the conclusion of 2023, as reported by the Ministry of Industry and Mineral Resources. The total count of factories reached 11,549.In a notable industrial expansion, the ministry disclosed that the past year saw the issuance of 1,379...

Leading financial evaluation corporation, Moody's Investor Services, recently reaffirmed the credit standings of several noteworthy Saudi businesses. Following an update to their assessment methodology for entities related to government, a number of companies have succeeded in maintaining their commendable credit scores.Among these, Saudi Basic Industries Corp., Saudi Telecom Co., and Saudi Electricity Co. have preserved their A1 ratings. Meanwhile, Saudi...

In a significant gathering hosted in Abu Dhabi, the Minister of Commerce and head of the General Authority for Foreign Trade, Dr. Majid bin Abdullah Al-Qasabi, led a crucial preparatory session with fellow Arab trade ministers. The assembly's core objective was to unify and articulate shared Arab viewpoints and concerns in the context of the World Trade Organization (WTO) deliberations.The...