Business

Saudi Arabia’s mergers and acquisitions market has seen a strong surge, with deal values rising 55 percent to $9.6 billion in 2024. This growth is largely driven by foreign investment and activity in sectors such as industry, technology, and consumer goods, all aligning with the nation's Vision 2030 economic transformation goals. Foreign investors contributed to nearly a third of these...

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 is investing heavily in airport infrastructure, allocating $147 billion to expand and modernize its aviation sector. This initiative aims to enhance air connectivity to 250 destinations, increase annual passenger capacity to 330 million, and double air cargo handling to 4.5 million tons by 2030. The ambitious program is projected to add $82.3 billion to the nation's GDP by...

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...

Several Thai firms are set to invest in Saudi Arabia’s Qassim region, viewing it as a promising business destination. The area stands out as a major agricultural hub, often called Saudi Arabia’s “food basket,” and serves as a critical link between Riyadh, Madinah, and Hail. Qassim produces over a million tonnes of agricultural goods each year and hosts the Middle...

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...

Saudi Arabia is rapidly positioning itself as a major business hub, driven by significant investments in infrastructure, technology, and tourism. Central to this transformation is Saudia, the nation’s flagship airline, which is playing a key role in reshaping business travel within the region and beyond. Strategically located between Europe, Asia, and Africa, Saudi Arabia offers a natural gateway for global...

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...

Are you an experienced professional in mobile game economy design? If you have over three years of experience and have released at least one game, this opportunity might be for you. Expertise in the Free-to-Play (F2P) market Skill in creating and optimizing complex economic simulations Advanced Excel skills with a strong math and statistics foundation Understanding of player psychology and...

Saudi Arabia's Derayah Financial has announced plans to launch an initial public offering (IPO) on Riyadh's main market, marking the first such announcement this year. The company intends to sell a 20% stake, equivalent to 49.94 million existing shares. The final price will be set after a book-building process. Co-founder and chairman Taha AlKuwaiz expressed enthusiasm about the IPO, highlighting...

Saudi Arabia's Mining Ambitions Face Investor Doubts Saudi Arabia is striving to establish a significant metals and mining hub, yet foreign investors remain more interested in Saudi funding rather than committing their own capital. During the recent Future Minerals Forum in Riyadh, several participants expressed interest in attracting Saudi investments instead of investing locally. They are awaiting tangible developments from...

Saudi Arabia's digital security firm, Elm Company, has announced its acquisition of Thiqah, a business services firm, from the Public Investment Fund (PIF) for 3.4 billion riyals ($906 million). This acquisition is part of Elm's strategy to enhance its position in the digital services sector. The deal was reached through a cash-based share purchase agreement with PIF, following discussions initiated...

Saudi Prince's Firm Avoids Crypto Investments Kingdom Holding, led by Saudi Prince Alwaleed Bin Talal, has decided against investing in cryptocurrencies due to their limited use in everyday transactions, as reported by Reuters. The Prince, known for a conservative investment strategy similar to Warren Buffett's, maintains a diversified portfolio of $13.6 billion, spanning sectors like finance, hospitality, and technology. CEO...

Are you an experienced professional in mobile game economy design? We're seeking individuals with over three years of experience, including at least one game successfully launched in the market. Ideal candidates will have a robust understanding of the F2P market and the ability to create, balance, and optimize intricate economy simulations. Proficiency in Excel and a strong foundation in math...

The business jet sector in Saudi Arabia experienced a remarkable 24% increase in flight volumes in 2024, according to the General Authority of Civil Aviation (GACA). This announcement was made during a Saudi House aviation event at the World Economic Forum in Davos. Flight numbers grew from 19,000 in 2023 to 23,612 in 2024, with domestic flights rising by 26%...

Talent 360, a prominent HR solutions provider, has successfully secured a significant investment from C.STAR, a key player in Saudi Arabia's business development scene. This partnership is set to enhance Talent 360's footprint in the Kingdom, introducing innovative AI-driven HR solutions to revolutionize talent management and business operations. Since its market entry in mid-2024, Talent 360 has gained a diverse...

Saudi Arabia Home Furniture Market Overview The Saudi Arabia home furniture market is experiencing significant growth, driven by economic development, urbanization, and evolving consumer preferences. It was valued at USD 4.49 million in 2023 and is projected to reach USD 6.71 million by 2032, with a compound annual growth rate (CAGR) of 5.91%. This market encompasses a wide array of...

Saudi Arabia's Elm, a digital solutions firm, has announced its acquisition of Thiqah Business Services Co. from the Public Investment Fund (PIF) for $907 million. This strategic move aims to strengthen the nation's information and communications technology sector. In a cash deal, Elm will acquire all 45,000 shares of Thiqah, each valued at SR1,000. This acquisition supports Saudi Vision 2030...

Saudi Arabia and Palestine have agreed to form the inaugural Saudi-Palestinian Business Council to boost trade and investment between the nations. This decision was made during a meeting in Riyadh between Hassan Al-Huwaizi, head of the Federation of Saudi Chambers, and Mazen Ghanem, the Palestinian ambassador to Saudi Arabia. Al-Huwaizi emphasized the Saudi private sector's commitment to supporting Palestinian businesses...

Saudi Arabia's hydroponic farming sector is set for expansion as Arable, an agritech startup, secures $2.55 million in seed funding. The investment, largely from foreign backers, will support the Kingdom's agricultural development. Saudi Arabia faces challenges like limited water and harsh climates, which hydroponic farming can help address by boosting yields and conserving water. Arable's growth is driven by strategic...

The Saudi Export-Import Bank and Pakistan's Bank Alfalah have signed a $15 million agreement to enhance Saudi exporters' access to the Pakistani market, aiming to strengthen economic ties between the two nations. This financing deal is set to boost the flow and competitiveness of Saudi non-oil exports, opening new trade opportunities. It aligns with Pakistan's ongoing efforts to deepen trade...

Saudi Arabia has initiated the Exploration Enablement Program to enhance investments and competitiveness in its mining sector, selecting six companies for the first phase. These include Royal Road, Ajlan and Bros Holding, EV Metals Group, Ma'aden, Gold and Minerals Co., and Al-Masane Al-Kobra Mining Co. (AMAK). The program, launched at the Future Minerals Forum by the Ministry of Industry and...