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  • Perspective: Business was as usual in Saudi Arabia during pandemic

    Last year Saudi Arabia’s General Authority for Small and Medium Enterprises conducted a survey. It showed that out of 918 businesses, 46.7 percent of micro enterprises, 30 percent of small businesses and 30.6 percent of medium-sized enterprises decided to close down at least one of their branches as a result of the pandemic’s negative impact. Likewise, 14 percent of the micro enterprises, 19.8 percent of the small enterprises and 34.7 percent of the medium-sized enterprises went out of business.

  • PIF-Backed ACWA Power to Seek Over $1 Billion in Saudi IPO

    While ACWA runs many natural gas-fired power plants, the Saudi government plans to make it the main vehicle for the kingdom’s major solar and green-hydrogen projects. ACWA is part of a consortium, along with U.S.-based AirProducts and Chemicals Inc., developing a $5 billion plant that will export green hydrogen from the new city of Neom. It’s also building a renewable power project for the kingdom’s Red Sea Development Co

  • Saudi TV Stations Begin Shift to Riyadh in Challenge to Dubai

    Saudi Arabian news channels are starting to transfer operations out of Dubai amid a push by the country’s crown prince to get multinational companies to relocate their headquarters to the kingdom. Staff at Al Arabiya and Al Hadath, both part of which operate under the same media umbrella, were told of the plans to shift to Riyadh from Dubai on Monday, according to several people who spoke on condition of anonymity because they aren’t authorized to speak on the matter. The move will happen in stages, the people said.

  • HSBC Saudi Arabia offers the first climate change focused investment fund in the kingdom

    HSBC Saudi Arabia is now offering the first environmental initiative investment fund in Saudi Arabia, known as the HSBC Global Equity Climate Change Fund, offering eligible investors exposure to renewable energy, clean transport, sustainable water management and climate change adaptation. This will provide interested customers participation and direct access to investments that help reduce the impact of climate change.

  • Saudis spend nearly 90% more in restaurants and cafes in 2021

    The restaurants and cafes sector achieved the highest growth rate, with its proceeds increasing 89 per cent during the first seven months of this year, compared to the same period of the previous year. Sales from the beginning of this year amounted to 33.95 billion riyals, compared to 18 billion riyals last year.

  • Saudi Vision 2030, Oman Vision 2040 offer joint strategic investment opportunities: Al-Falih

    The Saudi-Omani Investment Forum kicked off in Muscat Monday with the participation of Minister of Investment Eng. Khalid Bin Abdulaziz Al-Falih, Omani Minister of Commerce, Industry and Investment Promotion Qais Bin Mohammed Al-Yousef, and Chairman of the Omani Chamber of Commerce and Industry Redha Bin Jumah Al-Saleh.

  • Saudi Chemical Company’s subsidiary signs deal with Eli Lilly to manufacture insulin

    Saudi Chemical Company Holding (SCCH) has announced the signing of a memorandum of understanding (MOU) with an American pharmaceutical company for the manufacture of insulin in the kingdom. The agreement between the company’s subsidiary AJA Pharma and Eli Lilly Saudi Arabia has received support and empowerment from Saudi’s Ministry of Investment, SCCH said in a statement to the Saudi Stock Exchange (Tadawul).

  • Saudi Arabia reports 12th MERS coronavirus case of 2021

    The patient is a 69-year-old man from Riyadh. He reportedly had contact with camels.

  • Saudi Arabia in need of 1 million residential units by 2030: Report

    Saudi Arabia will need one million residential units to cater to the growing demand in the capital Riyadh and its other largest cities Jeddah and Dammam and Al Khobar (DAK), by 2030. Of this, 630,000 units (63 per cent) are likely to be generated by new Saudi and non-Saudi households, according to global commercial real estate leader Colliers.

  • Saudi mortgage lending picks up in July

    Saudi new residential real estate financing contracts reached over 18,000 worth SR8.4 billion for individuals in July, up from a month ago but down from the same month last year, Saudi central bank (SAMA) data showed. It's half of the value recorded at the beginning of this year.