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  • Saudi Aramco joins ACWA-led consortium developing 1.5GW PV plant

    With an investment value of SAR 3.4 billion (US$906 million), the Sudair project will be constructed in Sudair Industrial City and feature bifacial PV modules and trackers.

  • Giant Lair of Bones, Including Human, Discovered in Gruesome Saudi Arabian Cave

    A huge horde of mixed animal bones, including the remains of humans, has been found in an ancient lava tube in Saudi Arabia. The hollowed cave, called Umm Jirsan, is a sprawling lava conduit system underneath the volcanic fields of Harrat Khaybar in the northwest of the country.

  • Saudi Arabia’s Vision 2030 aims to empower the non-profit sector. Here are three areas to focus on.

    With its Vision 2030, Saudi Arabia encouraged businesses to participate in its development and to address national challenges—especially in critical sectors, such as health care, education, housing, and cultural and social programs—rather than focusing solely on generating profits. Vision 2030 calls for a more effective third sector for non-profits, among other things.

  • Saudi Aramco is in advanced talks on up to $25 billion Reliance deal

    A deal would forge closer ties between the world’s biggest oil exporter and one of the fastest-growing energy consumers. It would seal more than two years of negotiations and mark Aramco’s first all-stock deal since its initial public offering in 2019. Ambani confirmed talks about a deal with an implied stake valuation of $15 billion that same year. Discussions were delayed by the onset of the coronavirus pandemic and slump in oil prices.

  • Saudi’s SWPC issues prequalification tender for Ras Mohaisen – Baha – Makkah water transmission pipeline

    Saudi Water Partnership Company (SWPC), the principal offtaker for water and wastewater projects in Saudi Arabia, announced last week that it has issued Request for Qualification (RFQ) for Ras Mohaisen – Baha – Makkah Independent Water Transmission Pipeline Project (IWTP) to interested companies.

  • Saudi Arabia’s GEA updates entertainment licensing regulations

    The new regulation is the updated version of a regulation GEA issued in 2018 to organise entertainment activities. Saudi Arabia’s General Entertainment Authority (GEA) has issued a regulation organising licences for entertainment activities and associated suppliers services.

  • Perspective: What Is Driving The Transformation Of Saudi Aramco?

    While Aramco’s top priority is still its biggest shareholder - the Saudi government - global trends are pushing it towards diversification. The asset sale plan mirrors that of UAE neighbor Adnoc, which has been selling minority stakes in its energy assets to monetize them while it still can. Now that oil prices have recovered from the pandemic lows, it is the best time for this. Yet, Adnoc has been divesting assets for four years and has so far generated some $30 billion in proceeds in that period. The latest divestment plan is a listing of the Emirati company’s drilling business. The proceeds will reportedly be used for clean energy projects.

  • Saudi Arabia evacuates diplomats from Afghan capital

    Saudi Arabia announced on Sunday the evacuation of all members of its diplomatic mission in the Afghan capital of Kabul, the Saudi Press Agency reported.

  • Abu Dhabi’s Agthia Seeks Food Deals in Egypt and Saudi Arabia

    “We expect to see our growth coming from the consumer business,” Agthia Chief Executive Officer Alan Smith said in an interview with Bloomberg Television. “We’re going to continue to look for the right opportunities” for acquisitions with a focus on Saudi Arabia and Egypt, he said.

  • Saudi retailer BinDawood Holding says Q2 net profit down almost 50%

    Saudi Arabian supermarket retailer BinDawood Holding said profits in the second quarter were down almost 50%, as last year's figures were higher because of a boost in sales amid COVID-19 lockdown panic-buying and hoarding. The retail supermarket said net profit in the quarter ended June 30 was 95 million riyals ($25.33 million), compared with 185.4 million riyals in the same period last year.