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  • Saudis’ investment in US equity slow down in Q2 of 2021

    Despite the fall in the second quarter, trading in US equity witnessed a huge jump since the start of 2020. The trading of the third quarter of 2020 is the highest recorded so far, as it exceeded SR100 billion, the data showed. The Saudis’ trading in the US stock market during the past year 2020 recorded historical levels at SR323.4 billion, compared to transactions that amounted to about SR45.8 billion in the year preceding 2019.

  • Saudi Arabia extends visas for stranded foreigners to Sept. 30

    Saudi Arabia announced on Tuesday that it has extended the residence permits and visas for the stranded foreigners under the Saudi ban due to the COVID-19 pandemic to Sept. 30. The foreigners with Saudi residence permits or visas are now prohibited from entering the kingdom if they are currently in the banned countries.

  • Saudi Arabia: Mandatory vaccination to attend the workplace

    On 7 May 2021, the Saudi Ministry of Human Resources and Social Development ("MHRSD") announced that it would be mandatory for public and private sector workers to be vaccinated to attend the workplace. On 18 May 2021, the Ministry of Interior ("MoI") clarified that this would come into force on 1 August 2021. In this article, we provide a brief background on how this works in practice.

  • Real estate giant, Saudi firm team up on $37M senior living project in Florida

    The $37 million project, from Washington, D.C.-based Madison Marquette and Arbah Capital, will be in Punta Gorda Isles, according to a statement. It’s scheduled for completion/resident move-ins in early 2023 and will be operated by Meridian Senior Living, which currently manages over 75 communities with 7,000 residents nationwide, the release adds.

  • Saudi AirBnB-like platform Mabaat raises $2.4m in funding round

    Jeddah-based accommodation platform Mabaat has secured SR9 million ($2.4 million) in a seed funding round, as it aims to build on its contribution to Saudi Arabia’s tourism goals. The Saudi startup provides a platform for property owners to offer short-term rental accommodation, much like the AirBnB model. Unlike the US holiday rental platform, Mabaat handles the whole rental process from marketing, booking and payments to property maintenance.

  • Brazil’s BRF says Saudi Arabia suspends new shelf life rules for chicken

    BRF SA, the world’s largest poultry exporter, said on Tuesday that Saudi Arabia’s health regulator had suspended recently implemented rules that had shortened the shelf life of chicken products, a regulation that was seen curtailing imports to the country.

  • Singer Halsey wears emerging Saudi designer in new film

    Sulaiman, who is one of the very few Saudi designers to have their creations featured in a large-scale Hollywood production, was responsible for creating the white, off-the-shoulder dress worn by award-winning singer Halsey in the movie poster for her first feature film, “If I Can’t Have Love, I Want Power.”

  • 5 Saudi Concept Stores To Shop in 2021

    As the world continues to discover a stream of creativity from The Kingdom, we reveal some of the coolest regional shops that need to be on your radar

  • Fintech is driving Saudi Arabia toward a cashless society

    The fintech market in Saudi Arabia has reportedly grown threefold in 2020 as compared to 2019. The number of fintech companies jumped to 60 in 2020 as compared to only 20 in 2019. It is expected that the fintech market in the Kingdom will exceed SR123 billion ($32.8 billion) by 2023.

  • Six Saudi universities advance in latest ARWU ranking

    King Abdulaziz University (KAU) and King Saud University (KSU) secured a place among the world's top 150 universities with the former keeping its ranking in the ARWU's 101-150 category and the latter moving from the 200-251 category to the 101-150 category. King Abdullah University of Science and Technology (KAUST), King Fahd University of Petroleum & Minerals (KFUPM), King Khaled University (KKU) and Taif University been also ranked among the top 1,000 institutions in the world.