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  • Saudi Arabia’s surge in female workforce participation drives economic impact

    It comes as the Gulf Cooperation Council experiences unprecedented momentum in women’s participation in the workforce. According to the latest figures from the World Bank, the female labor force participation rate in Saudi Arabia stands at 34.5 percent, compared to 79.9 percent for males. Anne-Laure Malauzat, a partner at Bain & Co. in the Middle East, told Arab News that the statistic has surpassed the original target of 30 percent, prompting the Kingdom to set a new goal of 40 percent by 2030.

  • Saudi Arabia’s PIF partners with CONCACAF to boost football development

    The Confederation of North, Central America, and Caribbean Association Football (CONCACAF) has announced a strategic partnership with Saudi Arabia’s Public Investment Fund (PIF) to elevate football development across the region. The multi-year collaboration will focus on bolstering grassroots football, expanding youth championships, and nurturing young talent. By investing in programs like the CONCACAF under-15, under-17, and under-20 championships for both men and women, the partnership aims to create more opportunities for aspiring footballers.

  • Qiddiya’s Performing Arts Centre: Where innovation meets culture in Saudi Arabia

    The Qiddiya Investment Company (QIC) is set to redefine the cultural and entertainment landscape of Saudi Arabia with the launch of the Qiddiya Performing Arts Centre. As the first cultural asset of the newly announced Qiddiya City, this state-of-the-art venue is designed to become a symbol of creativity and a cornerstone of the Kingdom’s cultural evolution. In an exclusive interview with Saudi Gazette, Majed Aldusaimani, Director of Public Relations and Media Liaison at QIC, shared insights into the vision, technological advancements, and future aspirations for the Performing Arts Centre.

  • King Salman Charter for Architecture and Urbanism Award Announces 2024 Winners in Saudi Arabia

    The King Salman Charter for Architecture and Urbanism Award has just announced the winners for 2024. Recognizing outstanding achievements in architecture and urbanism in Saudi Arabia, The King Salman Charter for Architecture and Urbanism Award is an initiative designed to celebrate projects that are aligned with the values of the King Salman Charter in Saudi Arabia. This year, since projects were honored with the award from three categories: built projects, unbuilt projects, and student projects.

  • Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil

    In what Goldman Sachs Research calls a “capex super-cycle,” Saudi Arabia is expected to invest $1 trillion across six strategic sectors by 2030. But the oil industry is likely to receive a smaller portion of this than previously forecast. Roughly 73% of the investment funds will go to non-oil sectors, Faisal AlAzmeh, who heads CEEMEA equity research and covers natural resources, chemicals, and infrastructure in the Middle East, writes in his team’s report. An earlier forecast pegged non-oil investment at 66%.

  • China Energy Engineering signs $972 million solar deal with Saudi partners

    China Energy Engineering (601868.SS), opens new tab signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a Monday filing with the Shanghai Stock Exchange, marking the latest in a string of China-Saudi renewable energy deals. The 2 gigawatt (GW) photovoltaic plant will be built by a joint venture between a China Energy Engineering consortium and Saudi partners sovereign fund PIF, ACWA Power (2082.SE), opens new tab, and Saudi Aramco Power Company.

  • Saudi Arabia’s NWC starts implementing water and wastewater infrastructure projects worth $586 m

    Saudi Arabia’s National Water Company (NWC), through its Eastern Cluster, has initiated the implementation of 17 major projects across the Eastern Province of Saudi Arabia, with a total investment exceeding 2.2 billion Saudi Riyals ($586 million). In a press release, the company explains that the projects aim to enhance the region's environmental and water services infrastructure, focusing on wastewater treatment plants, pumping stations, power lines, and network replacements to improve service delivery in various cities and governorates.

  • Saudi Wealth Fund Pumps More Cash Into Two Struggling Startups

    In most cases, these projects have been key to the oil-rich region’s diversification push, meaning the sovereign wealth funds might not be solely focused on the dollars-and-cents aspect of their return on investment. But even on that front, some investors have started to focus on ensuring they’re not throwing good money after bad.

  • Saudi Artist Turns Calligraphy Into Captivating Art With His Stunning Projects

    Based in Riyadh, Al-Sulaimani’s love for calligraffiti started back in school during an Arabic calligraphy class. Captivated by the power of the written word, he started blending this timeless art form with vibrant, graffiti-inspired styles, creating eye-catching and unique masterpieces.

  • Saudi Maaden Doubles Profits in Second Quarter of 2024

    The net profits of the Saudi Arabian Mining Company (Maaden) doubled by approximately 192 percent to one billion riyals ($266 million) during the second quarter of 2024, compared to SAR 350.9 million ($93 million) during the same period last year. In a statement on Tadawul, the company attributed the growth to the increase in total profit by 35 percent to SAR 572 million as a result of the rise in selling prices, the decrease in the cost of raw materials, and depreciation expenses.