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  • Saudi Arabia’s NEOM: $500 bln project unveils Utamo to host global mega artists

    Saudi Arabia’s NEOM – the Kingdom’s $500 billion mega business and tourism project – has unveiled Utamo, a new destination for art and entertainment which aims to host performances from the globe’s biggest artists.

    NEOM has billed its latest project as “an innovative and multipurpose event and performance space” featuring VIP lounges, and signature restaurants that aims to make it one of the world’s most exclusive event spaces.

  • Saudi Arabia’s 30-Year Tax Relief: A Strategic Incentive for Regional Headquarters

    Under Saudi Arabia’s new policy, foreign companies that set up their regional headquarters in the kingdom are eligible for a generous 30-year withholding tax. This tax incentive aims to encourage foreign companies to establish a strong presence (regional headquarters) in Saudi Arabia, leveraging its strategic geographical location, investment hub and robust infrastructure for regional operations.

  • Ma’aden and Ivanhoe Electric start exploration activities in Saudi Arabia

    Ivanhoe Electric Inc. and the Saudi Arabian firm Ma’aden have officially begun exploration activities in Saudi Arabia through their 50/50 joint venture company. The joint venture, established earlier this year, aims to explore approximately 48,500 km2 of the underexplored Arabian Shield, focusing on discovering copper, gold, silver and other electric metals. Ivanhoe Electric will operate during the exploration phase, with Ma’aden set to assume operatorship if an economically viable deposit is identified for further development.

  • Saudi Arabia’s Acwa Power seeks development partners to invest in Africa projects

    Saudi Arabia's Acwa Power is working on a “recipe” to finance sustainable infrastructure projects in Africa, given the continent's opportunities and risks, its chief executive has said. The Riyadh-based company is looking for the best development institutions to work with local governments on the continent and foster dialogue with private investors while ensuring that "proper” guarantees are in place for the investments, Marco Arcelli told The National. “Africa, to me, is very interesting as a case because the most successful developer built 1.5 to 2 gigawatts in 15 years. So, the whole continent is quite fragmented and slow in development,” he said ahead of the Cop28 climate conference in Dubai.

  • Saudi Arabia studies graphite, rare earths trading platform – minister

    Saudi Arabia is exploring the potential launch of a new commodity trading platform for battery materials, including graphite and rare earths, its vice minister of industry and mineral resources said. Riyadh's efforts to build an economy that is not dependent on oil include a shift towards mining the country's untapped mineral resources - worth about $1.33 trillion - including copper, lithium, phosphate and gold, but also investing in overseas assets.

  • As Saudi Arabia wins bid for 2030 World Expo, a new book lifts the lid on the Kingdom’s push to be a key art world player

    Saudi Arabia boosted its cultural and diplomatic credentials yesterday (28 November) by winning the bid to host the Expo 2030 world fair, beating Italy and South Korea in a landslide vote during a closed-door meeting in Paris. The victory is the latest move to rebrand a state considered isolationist and ultra conservative until only a decade ago, which also has a concerning record on human rights.

  • World Bank: Saudi Arabia’s Non-Oil Sectors Continue to Grow, Women’s Participation in Workforce Doubles

    The World Bank (WB) report titled "Structural Reforms and Shifting Social Norms to Increase Women's Labor Force Participation" revealed the latest economic developments in the Gulf Cooperation Council (GCC) countries. The report indicates that the efforts towards economic diversification in the region have started to show positive results, but there is still a need for further reforms. According to the report, the number of workers in the Saudi private sector increased by approximately 153,300 by the end of the first half of 2023 compared to the end of the first half of 2022, with the total number of workers being around 2.3 million. The report also highlights that the participation of Saudi women in the workforce has doubled within six years, rising from 17.4% in early 2017 to 35.3% in the second quarter of 2023.

  • Foster + Partners Designs Model Village for Saudi Arabian Pavilion at Expo 2025 Osaka

    Foster + Partners has been selected to design the Kingdom of Saudi Arabia’s pavilion for Expo 2025 Osaka. Positioned at the Yumeshima waterfront, the pavilion aims to evoke the essence of Saudi Arabian towns and cities while providing an engaging spatial experience. Overall, the design aims to immerse visitors through audio-visual elements and offer them a glimpse into the marvels of Saudi Arabia.

  • Google Cloud and Haboob partner to strengthen Saudi Arabia’s nationwide cyberdefence

    Haboob, a leading cybersecurity service provider owned by the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), has announced its partnership with Google Cloud to deliver Chronicle CyberShield to the Kingdom of Saudi Arabia. This marks the first time Chronicle CyberShield will be offered in a managed services model in the Kingdom, aiming to bolster cybersecurity services for public sector organisations. Chronicle CyberShield is a comprehensive solution that provides technology, processes, capabilities and resources to deliver situational awareness of the cyberthreat landscape. It is uniquely designed for government entities to share threat information; help accelerate investigations; and initiate a united response against persistent and ever-evolving threats proactively and rapidly.

  • Gibson Dunn Launches in Saudi Arabia with Seven-Partner Team

    The firm’s Riyadh team includes seven partners—each of whom has extensive experience working with clients in Saudi Arabia: Megren Al-Shaalan, Mohammed Bashir, Mahmoud Abdel-Baky, Jonathan Langley, Mohamed AlHasan, Lars Petersen and Ibrahim Soumrany. Gibson Dunn has significantly expanded in the Gulf in the last 12 months, adding 14 new partners and 19 new associates, the largest investment made in the region by any international firm during this time.