Business

Saudi Arabia's IPOs are leading the Gulf region's share sales, even as some recent listings have struggled. Notably, Nice One Beauty Digital Marketing and Alamosa Health saw strong trading debuts, maintaining prices above their initial offers. Despite a mixed performance for some Saudi listings over the past year, the Saudi stock market has outshone its Gulf counterparts in after-market performance...

Saudi Arabia's Sustainable Tourism Vision Shared at WEF Saudi Arabia's tourism industry is undergoing a significant transformation, prioritizing sustainability to ensure growth without harming natural environments and local communities. The country's tourism minister emphasized this commitment during a briefing at the World Economic Forum in Davos. Saudi Arabia collaborates with key global organizations, including the WEF and UN Tourism, to...

Saudi Arabia's Rize, a real estate tech firm, has successfully raised SR132 million ($35 million) in a Series A funding round to extend its operations beyond Riyadh. This round included both equity and debt and was spearheaded by Raed Ventures, with contributions from SEEDRA Ventures, Aqar Platform, JOA Capital, Nama Ventures, and HALA Ventures. Rize has partnered with Partners For...

Saudi Arabia has seen a significant rise in business activity, with a 60% increase in commercial records issued in 2024, totaling 521,969, as reported by the Ministry of Commerce. This marks a substantial jump from the 368,038 records issued in 2023. The Kingdom's strategy to diversify its economy beyond oil dependency is central to this growth. By 2030, the goal...

Saudi Arabia Leads GCC IPO Market with $4.1 Billion in 2024 Saudi Arabia emerged as a dominant force in the Gulf Cooperation Council's initial public offering market in 2024, securing $4.1 billion through 42 IPOs. This accomplishment marks the highest number of listings in the region. According to a report by The Kuwait Financial Centre (Markaz), the GCC's IPO proceeds...

Riyadh, the capital of Saudi Arabia, serves as a major hub for government activities, manufacturing, finance, and services. The public sector is the city's largest employer, with Saudis making up the majority of government workers. The private sector sees significant employment in services, construction, trade, and industry. As a financial and business center, Riyadh hosts the central bank and numerous...

Saudi Arabia is turning to Riyadh Air to boost tourism and diversify its economy. However, the airline's launch has been delayed due to Boeing's delivery issues. Initially, Riyadh Air had planned its debut for early 2025, but this has now shifted to the third quarter. The airline had ordered 39 Boeing 787-9 Dreamliners and expected eight deliveries this year. Now,...

The Weir Group and Olayan Saudi Holding Company have announced a joint venture to deliver mining technology solutions in Saudi Arabia. Revealed at the Future Minerals Forum in Riyadh, this partnership strengthens the companies' longstanding relationship. Weir will leverage its expertise in sustainable mining technology and sales, while Olayan will apply its local market knowledge. In the joint venture, Weir...

Saudi Arabia's oil giant is set to explore lithium mining within the country, reflecting a trend where traditional fossil fuel companies are investing in this vital component for the global shift to renewable energy. Saudi Aramco has announced a joint venture with the leading mining firm in Riyadh, spurred by the discovery of promising lithium deposits in its existing oil-producing...

Gulf states like the UAE and Saudi Arabia are setting ambitious goals to transition their economies from oil dependency to technological innovation. The UAE aims to be a leader in artificial intelligence, while Saudi Arabia is focusing on becoming a hub for startups in advanced fields such as robotics. However, these aspirations face challenges from geopolitical dynamics. Key topics in...

Britain is set to enter a minerals cooperation agreement with Saudi Arabia, aiming to enhance supply chains and attract investments to the UK. This partnership is expected to create new opportunities for British businesses. Importance of the Agreement The UK needs a stable supply of critical minerals like copper, lithium, and nickel. These materials are essential for manufacturing smartphones, electric...

Saudi-Japan Business Collaboration RIYADH — The Saudi-Japanese Joint Business Council convened in Riyadh, featuring key figures like Saudi Minister of Investment Khalid Al-Falih and Japan's Minister of Economy, Trade, and Industry, Motoo Yuji. Over 80 company and entity representatives from both nations attended. Japan's delegation comprised industrial, commercial, and financial experts focusing on modern technologies for Saudi markets. The meeting...

Ivanhoe Electric's Copper Discovery in Saudi Arabia Ivanhoe Electric Inc. has announced significant discoveries in its joint venture with the Saudi Arabian Mining Company, Ma’aden. The company has successfully identified a new copper zone in Saudi Arabia, thanks to its advanced Typhoon geophysical technology. This breakthrough highlights the potential of Ivanhoe's technology in swiftly locating mineral resources, enhancing its market...

Saudi Aramco has secured 145 agreements and memorandums of understanding valued at $9 billion during the opening of the In-Kingdom Total Value Add Forum and Exhibition 2025. These deals aim to boost the localization of products and services in Saudi Arabia, enhancing the local supply chain. The agreements support the objectives of the iktva program, which focuses on improving supply...

Saudi-Japanese Business Forum Held in Riyadh The Saudi-Japanese Joint Business Council convened in Riyadh, with the participation of Saudi Minister of Investment Khalid Al-Falih and Japanese Minister of Economy, Trade, and Industry Motoo Yuji. Over 80 representatives from both nations' companies attended the meeting. The Japanese delegation included members from companies and financial institutions with a focus on modern technologies...

Saudi-Japanese Business Council Meeting in Riyadh The Saudi-Japanese Joint Business Council convened in Riyadh with the participation of over 80 representatives from both nations. Key figures included Saudi Arabia's Minister of Investment, Khalid Al-Falih, and Japan’s Minister of Economy, Trade and Industry, Motoo Yuji. The Japanese delegation was comprised of professionals from various sectors, focusing on modern technologies aimed at...

Riyadh, KSA: TASC, a top provider of business and workforce solutions in the GCC, has introduced a new co-working space in Riyadh, Saudi Arabia. This initiative supports Saudi Arabia's Vision 2030 by meeting the evolving needs of businesses and aiding the Kingdom's transformation goals. Small and medium-sized enterprises (SMEs) play a crucial role in Saudi Arabia's economy, currently contributing 20%...

ATPI Group, a UK-based company, has formed a new alliance with Arjaa Travel, a corporate travel agency in Saudi Arabia, to expand its reach in the Middle East. Arjaa Travel, part of the Almajdouie Group in Al Khobar, specializes in various sectors, including energy, marine, mining, corporate services, sports, and events. This partnership will integrate the travel management services of...

UK-based ATPI Group has formed a strategic alliance with Saudi Arabia's Arjaa Travel to enhance its footprint in the Middle East. Arjaa Travel, part of the Almajdouie Group in Al Khobar, specializes in diverse sectors including energy, marine, and corporate events. This partnership will combine their corporate travel management offerings, integrating ATPI's tech platforms and customer support. Lynn Coutts, ATPI's...

Rotana, a prominent hotel management company in the MENAT region, has announced its ambitious expansion plans at the Saudi Tourism Forum. The company is set to develop 36 new properties across 22 cities in the Middle East, Africa, Europe, and Türkiye, with a particular focus on Saudi Arabia. In Saudi Arabia, Rotana plans to significantly increase its presence by tripling...

Maaden and Alba's Aluminum Deal Talks End Negotiations between Saudi Arabia's Maaden and Bahrain's Alba to form a major aluminum entity have concluded without a deal. Alba's shares fell by 8.6% in Bahrain, while Maaden saw a 0.7% decrease. Maaden had proposed to transfer its entire share capital from two subsidiaries—Maaden Aluminium Co. and Maaden Bauxite and Alumina Co.—to Alba...

The Saudi government has earmarked SR10 billion for the Standard Incentives Program aimed at boosting the industrial sector. This move, approved by the Council of Ministers, is designed to foster industrial investment and sustainable growth while enhancing global competitiveness. Details of the incentives were revealed by the Ministry of Industry and Mineral Resources and the Ministry of Investment. Key figures...

Investor optimism and improved regulatory frameworks are set to drive Saudi Arabia's IPO market in 2025, according to industry experts. January saw two significant IPOs in the kingdom, with Almoosa Health and Nice One experiencing substantial trading gains. Nice One, considered Saudi's first unicorn, exemplifies the rising investor appetite. Zaid Ghoul from SNB Capital highlighted Nice One's performance as a...

Saudi Gazette Report RIYADH — The initiative to relocate regional headquarters of global companies to Saudi Arabia is advancing successfully, according to Investment Minister Eng. Khalid Al-Falih. He stated that 571 international companies have been licensed to establish headquarters in the Kingdom, primarily at the King Abdullah Financial Center in Riyadh. These companies are predominantly from the industrial sector, which...

Saudi Arabia is poised for growth in its entertainment sector, driven by initiatives to support 32 startups and foster innovation. The General Entertainment Authority (GEA) has introduced the third edition of its accelerator program, which provides consulting, mentorship, and international exposure to participating startups. This program will support two groups of 16 businesses each, offering 192 hours of expert guidance,...

The video game industry in Saudi Arabia is rapidly growing and is expected to significantly contribute to the Kingdom's economic diversification goals, according to experts. The gaming sector is being recognized as a major entertainment vertical, second only to video and TV streaming globally. Povilas Joniskis from Boston Consulting Group highlights the Kingdom's young population as a driving force behind...

Lloyd’s Register (LR) has secured a contract with the Saudi General Ports Authority (Mawani) to enhance management systems and prepare for certification at four major Saudi ports. This initiative aims to boost operational efficiency and solidify Saudi Arabia's role in global trade. This collaboration is part of Mawani's strategy to improve port operations and increase international market exposure, ultimately promoting...

Saudi Arabia has emerged as the foremost hub for venture capital in the Middle East and North Africa (MENA), securing $750 million in 2024. This achievement marks the second year in a row that the Kingdom leads the regional VC landscape. According to MAGNiTT, Saudi Arabia represented 40% of MENA's venture capital investment, with a 16% increase in deal activity....

Saudi Arabia is experiencing a significant rise in mergers and acquisitions, with a 17.4% increase in approvals, highlighting efforts to enhance its competitive business landscape. The General Authority for Competition (GAC) reported 202 approved economic concentration requests, marking a record high, while 10 applications are still pending. These approvals are crucial to prevent monopolies and maintain market competition. This increase...

Saudi Aramco, the leading global oil exporter, has increased its crude prices for Asian markets for February. This marks the first rise in three months, coinciding with OPEC+ extending production cuts and reduced supplies from Russia and Iran. The official selling price for Arab Light crude has been raised by 60 cents, reaching $1.50 per barrel above the Oman/Dubai benchmark....