Business

Recent analysis from Coherent Market Insights provides an in-depth look into the Saudi Arabia and Middle East Radioisotope Market, projecting growth and trends up to 2031. The study delivers key insights into economic, national, and global scales, emphasizing competitive landscapes and resource evaluations to aid companies in understanding industry shifts. It meticulously reviews market dynamics, delivering insights based on a...

Alraedah Digital Solutions, a subsidiary of the tech-focused Alraedah Digital Group, has entered into a pivotal alliance with ABHI, a fintech entity with a focus on earned wage access and invoice factoring within the MENAP region. This union signifies Alraedah's dedication to promoting financial innovation and inclusive growth within the region.Through this partnership, ABHI will benefit from Alraedah's extensive expertise...

The ambitions of the Saudi stock exchange to become an eminent global capital marketplace have led it to take cues from industry leaders like the Hong Kong stock exchange. A high-ranking official from the Saudi Tadawul Group has indicated that the Hong Kong Exchanges and Clearing (HKEX) is a key benchmark for their reformative measures.Nayef Al-Athel, the chief sales and...

AlUla has embarked on a dynamic partnership with Riyadh Air, the kingdom's emerging premier airline that aspires to connect over 100 destinations by the year 2030. This strategic alliance was formalized at the Arabian Travel Market event in Dubai, with both parties pledging to work together to amplify AlUla's appeal and the reputation of Riyadh Air to discerning international and...

In a landmark showcase at the Arabian Travel Market (ATM), the Boutique Group made its debut as an independent participant, signaling a bold foray into the world of luxury hospitality. The ATM, recognized globally as a pivotal platform for tourism industry leaders, served as the backdrop for Boutique Group's exposition of its vision to redefine luxury stays by converting some...

AviLease has achieved a significant milestone by providing Air India Express Limited with two state-of-the-art Boeing 737-8 airplanes. These jets are the initial segment of a total of six to be supplied throughout the year 2024. Renowned for its fuel efficiency, sustainability, and cutting-edge technology, the Boeing 737-8 represents the forefront of narrow-body aviation. These initial deliveries are indicative of...

The Kingdom of Saudi Arabia is witnessing a pivotal period in its development as a premier travel destination, with the AlUla region at the forefront of this remarkable evolution. Melanie de Souza, Executive Director of Destination Marketing at The Royal Commission for AlUla, has highlighted the significant impact of the region on the Kingdom's tourism industry and economic growth.De Souza...

Chinese automotive manufacturer Skyworth Auto has entered into a significant collaborative agreement with Saudi Arabia's KAG Group, a move signalling increased investment from the Saudi side into the Chinese vehicle production space.Skyworth Auto announced a strategic partnership spanning ten years with KAG Group, a firm under Saudi royal patronage. The initial five-year phase is backed by a robust business plan...

Saudi Arabia has been commended by a United Nations body for its comprehensive legal infrastructure and robust antitrust legislation. The country was awarded the highest assessment grade in the 2023 Competition Law Systems Report by the UN Economic and Social Commission for Western Asia, elevating its status from the 'developed' category it held in 2020, as reported by the SPA.Notably,...

Saudi Arabia has embarked on a journey to transform its economy beyond the traditional oil dependency, channeling massive investments into tourism and other sectors. This initiative includes several ambitious projects that have captured global attention due to their sheer scale and futuristic visions. At the forefront of these ventures is 'The Line,' a proposed urban development that promises to redefine...

Saudi Arabia has enhanced the scope of its electronic visa program by adding three additional countries to the list of eligible nations. Citizens from Barbados, the Commonwealth of The Bahamas, and Grenada can now effortlessly apply for their visas online or obtain them upon arrival at Saudi entry checkpoints.This initiative has raised the count of countries whose citizens can access...

Saudi Arabia has been lauded internationally by a United Nations commission for its formidable legal structure and the exceptional strength of its competition laws. The Kingdom has proudly achieved the highest evaluation tier in the latest Competition Law Systems Report for 2023, as released by the UN Economic and Social Commission for Western Asia. This prestige surpasses the already impressive...

Sabre Corporation, a prominent software and technology entity that energizes the worldwide travel sphere, along with Taiba Investments, a reputed Saudi hospitality firm known for its prowess in hotel and residential compound management, development, and operations, made public their strategic technology pact at the Arabian Travel Market event in Dubai. This venture will integrate Sabre Hospitality's SynXis platform into the...

Saudi Arabia has sanctioned a series of significant economic and energy agreements with multiple nations including Jordan, Brazil, and Japan, based on the outcomes of a recent Cabinet assembly.In a move to strengthen financial ties, the Kingdom's central bank has also ratified an accord with Qatar to collaborate in financing operations.The assembly gave the nod to a collection of accords...

The maiden venture of Red Sea Fashion Week is poised to make a splash from May 16 to 18, 2024, at the newly minted St. Regis Red Sea Resort in Saudi Arabia. The event will span three days, kicking off with a grand opening show, followed by a series of runway presentations and interactive experiences showcasing high-end fashion, jewelry, Ready-to-Wear,...

Saudi Arabia's transport sector is poised to welcome a significant number of pilgrims with a host of preparedness measures in place for the forthcoming Hajj season. The General Authority of Civil Aviation (GACA) has organized a massive allocation of 3.4 million seats across 7,700 flights to manage the expected influx of faithful travelers.King Abdulaziz International Airport (Jeddah)Prince Mohammad bin Abdulaziz...

Red Sea Global Amplifies Saudi Tourism Offerings with Strategic AlliancesSaudi Arabia's efforts to bolster its tourism sector received a significant uplift through a pact between Red Sea Global, a prominent developer with multiple projects, and travel entity Almosafer. This collaboration is primed to enhance and market the tourism ventures and attractions of the destination.John Pagano, the CEO of Red Sea...

A recent technology partnership between Sabre Corporation, a provider of travel software, and Taiba Investments, a prominent hospitality company in Saudi Arabia, marks a significant development in the hotel management sector.The deal was formalized at the Arabian Travel Market, a notable B2B travel exhibition in Dubai, taking place from May 6 to May 9, 2024.Central to this collaboration is the...

At the Arabian Travel Market, a premier B2B travel event in Dubai, Sabre Corporation, a prominent travel software provider, has announced a technological partnership with Taiba Investments, a leading hospitality firm based in Saudi Arabia. The exhibition, which plays a pivotal role in the travel sector, took place from May 6 to May 9, 2024.The collaboration signifies the adoption of...

Sabre Corporation, a leader in the provision of travel industry software and technology, has solidified a strategic association with Taiba Investments, a foremost hospitality entity in Saudi Arabia. This collaboration, made public at the Arabian Travel Market event in Dubai, will see the deployment of Sabre Hospitality's SynXis platform across Taiba's hotel brands, which includes the likes of Makarem and...

The Deputy Minister of Industry and Mineral Resources of Saudi Arabia, Khalil bin Salamah, recently shone a light on the country's substantial global industrial influence. The Riyadh International Industry Week 2024, which began on Monday, has attracted over 10,000 industrial leaders from across the globe. With an intent to enhance the manufacturing sector, bin Salamah pointed out the Kingdom's focus...

New Collaboration to Propel Saudi Arabia's Travel AmbitionsA groundbreaking collaboration has been established between HotelRunner and Alesayi Hospitality Company (AHC), with the support of the Saudi Tourism Authority (STA), aimed at revolutionizing the Saudi Arabian travel ecosystem through advanced technology, artificial intelligence, and automation.The alliance between the provider of hospitality and travel technologies and the hotel management and hospitality consulting...

The Canadian envoy has highlighted ongoing collaborative efforts with Saudi Arabia aimed at reinforcing educational partnerships. Such initiatives are poised to fortify the bilateral relations between the two nations in the academic sphere. In a separate development, the capital of Saudi Arabia has inaugurated one of its most significant entertainment events to date. The ceremonious opening was held at the...

The Kingdom of Saudi Arabia has taken a significant step in reinforcing its water security by transforming the Saline Water Conversion Corporation (SWCC) into the newly formed Saudi Water Authority (SWA).With newly established organizational frameworks, the SWA is poised to improve regulatory oversight, elevate service management, and drive methodological advancements in the water sector.The Saudi Cabinet's approval of this move...

Millennium Hotels and Resorts MEA is on the brink of inaugurating its first establishment in Jeddah within the current month, marking a strategic enhancement of the group’s presence in Saudi Arabia. The Millennium Jeddah boasts 252 rooms and underscores the company’s dedication to the region, coinciding with the scheduled opening of three more properties in the year 2024.Fahad Abdulrahim Kazim,...

HotelRunner, a trailblazer in hospitality and travel technologies, has joined forces with Alesayi Hospitality Company (AHC) under the auspices of the Saudi Tourism Authority (STA), signing a Memorandum of Understanding to stimulate the Kingdom of Saudi Arabia's travel ecosystem with a focus on data, AI, and automation.Under the spotlight of STA's exhibit at the Arabian Travel Market in Dubai on...

The city of Riyadh in Saudi Arabia recently became the hub for the largest entertainment industry convergence with the launch of two eagerly awaited events - the Saudi Entertainment and Amusement Expo, alongside the Saudi Light and Sound Expo.Spanning over three thrilling days, the events will immerse attendees in a world of interactive exhibits, state-of-the-art technologies, and forward-thinking insights into...

NEOM has revealed its latest development, Jaumur, poised to become the preeminent cosmopolitan marina community situated on the Gulf of Aqaba's picturesque coastline. This luxurious enclave is meticulously crafted to meet unparalleled standards of future living and an exuberant active lifestyle.The announcement of Jaumur comes as a significant milestone, reflecting the ambitious vision of NEOM to set new paradigms for...

Saudia, Saudi Arabia's premier airline, has forged a strategic alliance with Red Sea Global (RSG), aiming to revamp travel experiences for RSG and its associated entities. The collaboration was formalized with signatures from Saudia's Chief Commercial Officer Arved Von Zur Muehlen and RSG Group's Chief Administrative Officer Ahmad Darwish at the Arabian Travel Market, hosted in Dubai World Trade Center.Through...

The Kingdom of Saudi Arabia's pivot towards renewable energy is anticipated to yield a substantial reduction in annual electricity expenditures, potentially saving $30 billion by the year 2030, as per a high-ranking S&P Global official. During a panel at the 2024 Saudi Arabia Capital Markets Conference in Riyadh, Sofia Bensaid, who oversees Infrastructure and Project Finance Ratings, emphasized Saudi Arabia's...