Business

In a recent development, a prominent trade representative from China has signaled an opportunity for Saudi Aramco, the world's leading oil company, to broaden its investment ventures within the nation. This invitation was extended during a dialogue that took place on Thursday, marking a significant moment for potential collaboration between the two parties. The beckoning of Saudi Aramco to invest...

During the Future Minerals Forum held in Riyadh, Saudi Arabia's Vice-Minister for Mining Affairs, His Excellency Khalid Al-Mudaifer, highlighted the critical need for three pillars to fund global mineral value chains: ample supply, supportive policies, and robust investment. Addressing the challenges associated with the global push towards decarbonization and net-zero emissions, he emphasized the urgency of ramping up production of...

Marriott International has forged a new agreement to introduce its Apartments by Marriott Bonvoy brand to the opulent island retreat of Sindalah, situated on the Red Sea off the northwest coast of Saudi Arabia. Targeting a 2024 opening, Apartments by Marriott Bonvoy will offer guests premium and luxurious apartment-style lodgings. The accommodations will range from studio apartments to spacious one,...

During the inaugural day of the Future Minerals Forum in Riyadh, which took place from January 9th to 11th, Saudi Arabia's Vice-Minister for Mining Affairs, His Excellency Khalid Al-Mudaifer, highlighted the necessity of enhancing global mineral value chains through three pivotal elements: consistent supply, strategic policy frameworks, and robust investment. In light of the global shift towards a net-zero carbon...

A contingent of fifteen Saudi enterprises, all of which are entrenched in the plastic and petrochemical sectors, is showcasing at the 19th iteration of the PLASTEX exhibition. This prominent event is taking place at the Egypt International Exhibition Center in Cairo, featuring over 500 participating entities from more than 50 nations across the globe including various Arab countries. The objective...

In a significant development, Saudi Arabia's state television reported that the kingdom has reached an understanding with Canada to recommence the exchange of trade delegations, resuming a practice that had been dormant for five years. This move comes in the wake of the restoration of full diplomatic relations between the two nations in the previous year. An accord was struck,...

The Transport General Authority (TGA) recently concluded a successful showcase at the annual meeting of the Transport Research Board, held at the Walter E. Washington Convention Center. In a significant move, the TGA displayed two innovative technological solutions designed to improve both monitoring and the detection of violations during the Hajj season, which is a period that demands high levels...

In an announcement that signals continued ambition for Saudi Arabia's special economic zone, Neom's leadership has unveiled a new, audacious project called Aquellum. This development is planned to be seamlessly integrated along the Gulf of Aqaba's coastline, nestled within a towering 450-meter mountain range. Its entrance will be ingeniously hidden, with access provided by an underground canal. Aquellum is conceived...

In a move set to bolster the luxury hospitality and residential sectors in Saudi Arabia, KUN Investment Holding has teamed up with AlUla Development Company, a subsidiary of the Public Investment Fund (PIF), to embark on an ambitious project dubbed Aman Hegra. This partnership is anchored by a strategic Shareholders' Agreement aimed at fostering development in the AlUla region, known...

In a strategic move that supports Saudi Arabia's industrial ambitions, HIMA Group, a leading independent provider of safety-related automation solutions, has inaugurated its first establishment in the Kingdom. This development is in line with the country's forward-looking Saudi Vision 2030 and is poised to reinforce initiatives within the industrial domain, especially those propelled by Aramco's In-Kingdom Total Value Add (IKTVA)...

A strategic alliance has been formed between Qvest, renowned for its media-centric solutions, and SRMG, to create a joint venture (JV) with the mission to elevate media, production, and technology services within Saudi Arabia. The JV, headquartered in Riyadh, has already initiated its first series of projects and is on track to be fully operational in the first half of...

With 40% of its populace being expatriates, Saudi Arabia is reinforcing its efforts to draw in talent and investments by extending its Premium Residency Program with five novel visa categories. These new offerings aim to attract real estate owners, entrepreneurs, and individuals boasting unique talents, aligning with the nation's economic diversification goals. As the largest economy in the Middle East,...

In the heart of Saudi Arabia, the ambitious NEOM project, valued at $500 billion, has recently revealed its latest high-end offering, the Aquellum mountain resort. Touted as a captivating retreat nestled within a towering 450-meter-high mountain range, Aquellum is set to redefine luxury with its unique approach to guest experiences. Visitors yearning for exclusivity will be intrigued by the world's...

The upcoming World Economic Forum (WEF) Annual Meeting in Davos, taking place from January 15 to 19, 2024, has chosen "Rebuilding Trust" as its central theme. This reflects a global imperative to restore faith in international institutions amid fluctuating geopolitical landscapes. Representing Saudi Arabia, a high-ranking delegation led by Minister of Foreign Affairs Prince Faisal bin Farhan is poised to...

In a pivotal move within the Kingdom of Saudi Arabia, a prominent real estate firm and an electric vehicle (EV) infrastructure company, backed by the Public Investment Fund, have agreed to introduce EV charging solutions throughout the country’s developments. The collaboration between ROSHN Group and the Electric Vehicle Infrastructure Company (EVIQ) aims to hasten the integration of electric vehicles nationwide....

The Kingdom of Saudi Arabia has taken a significant step forward in enhancing its energy, mining, industrial, and logistics sectors by forming a strategic collaboration with a prominent technology company. This partnership is set to nurture innovation, attract new investments, and provide robust support for budding entrepreneurs. This pivotal agreement was formalized during the International Future Minerals Forum 2024 in...

The Saudi capital of Riyadh is poised to become a hub for the latest in property trends, focusing on innovative and sustainable practices, as it prepares to host the third Saudi Real Estate Future Forum. This significant event is scheduled to take place from January 22 to 24 and will convene under the theme: "The Power of Flexibility... Building a...

Riyadh to Host Global Milestone Event: Expo 2030 After winning the bid to host Expo 2030, Saudi Arabia's Minister of Economy and Planning, Faisal Alibrahim, has highlighted the international community's trust in the Kingdom's capacity to organize major global events. In a statement to the Saudi Press Agency, Alibrahim emphasized that the Kingdom's aspiration to hold this prominent international exhibition...

During the prominent Future Minerals Forum held in Riyadh, a pivotal partnership was forged between the National Industrial Development and Logistics Program (NIDLP) and Newlab, a frontrunner in pioneering technology and crafting eco-friendly solutions across energy, mining, and logistics sectors. The collaboration ushers in the establishment of 'Nwelapksa', Newlab's new regional hub in the Kingdom of Saudi Arabia. This initiative...

In a significant move to bolster international relations within the mineral sector, Saudi Arabia's Ministry of Industry and Mineral Resources has successfully established four Memorandums of Understanding (MoUs) with a quartet of nations: the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia. These agreements were signed during the Ministerial Roundtable, which served as a precursor to the third edition...

During a recent international mining conference in Riyadh, Saudi Arabia's Minister of State for Foreign Affairs, Adel bin Ahmed Al-Jubeir, emphasized the Kingdom's commitment to leading the charge in setting environmental standards and not merely adhering to them. As the world's most prominent oil producer, Saudi Arabia has set ambitious objectives to transition towards renewable energy and sustainable economic growth....

The grand vision for a luxurious mountain retreat, named Aquellum, was recently revealed by the team behind the ambitious NEOM megacity in the northwest of Saudi Arabia. This exclusive visitor complex is the newest venture within the extensive regional development project that spans multiple billions of dollars. NEOM's announcement highlighted the unique blend of state-of-the-art technology, groundbreaking architecture, and innovative...

In a significant move to foster the growth of electric vehicle (EV) use in Saudi Arabia, ROSHN Group, a premier real estate developer owned by the Public Investment Fund (PIF), has entered into a collaborative agreement with the Electric Vehicle Infrastructure Company (EVIQ), a key provider of EV charging solutions. A Memorandum of Understanding (MoU) was signed to enhance the...

Saudi Arabia has introduced five additional offerings to its premium residency program, an initiative designed to attract international professionals and investors. This expansion is part of the Kingdom's broader strategy to reduce its reliance on oil revenues by diversifying its economy. Launched in 2019, the premium residency program grants eligible foreign nationals the ability to live in Saudi Arabia and...

In a strategic move to diversify its economy and enhance its mining sector, Saudi Arabia has established several memorandums of understanding (MOUs) with key international partners. At the esteemed Future Minerals Forum held in Riyadh, the kingdom signed agreements with Egypt, Russia, Morocco, and the Democratic Republic of Congo to foster cooperation in the realm of mineral resources and geology....

In the burgeoning northwest region of Saudi Arabia, NEOM's Board of Directors has unveiled their latest project, Aquellum, a high-end and immersive establishment nestled within the mountains. This venture is a testament to the area's continuous evolution and showcases a commitment to utilizing cutting-edge technology, innovative architecture, and progressive ideas to redefine luxurious living. As per the details shared by...

In a move poised to invigorate commercial relations, the Federation of Saudi Chambers has entered into a strategic partnership with the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus. This alliance, formalized through a memorandum of understanding (MoU), aims to amplify investment and trade activities between the two countries. The MoU was ceremoniously...

Forecasts by the World Bank indicate that Saudi Arabia and the UAE are poised to drive economic growth within the Gulf region in the upcoming year. The UAE’s gross domestic product (GDP) is expected to see a 3.7% rise in the current year, with a further acceleration to 3.8% anticipated in the following year, as per the World Bank's analysis....

Riyadh is set to host the third annual International Mining and Resources Conference (IMARC) ministerial roundtable, an exclusive gathering of high-level government officials engaged in the mining sector. The conference will commence this Tuesday, bringing together a global assembly of ministers to intensify collaboration in the strategic mineral domain, which is crucial for the energy sector's transformation. The objective of...

A new economic chapter has been initiated as Saudi Arabia and Belarus inked a Memorandum of Understanding (MoU) on Monday, aimed at amplifying investment and bolstering trade connections between the two nations. This strategic alliance was formalized by the Federation of Saudi Chambers and the Belarusian National Centre for Marketing and Price Study, part of the Ministry of Foreign Affairs...