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  • Wamda’s Tawaref Series Provides Blueprint for Expanding in KSA
     

    Wamda has partnered up with Tawaref, a Saudi Arabia-based tech investment community that also provides startup advisory, legal consultancy and due diligence support, to publish a series of articles to help entrepreneurs navigate the Saudi market.

     
  • Johnson Controls Arabia Announces Export of 300 Saudi-Made Scroll Chillers to the United States from KAEC Manufacturing Plant
     

    Johnson Controls Arabia (JCA) hosted an export milestone event at its YORK Manufacturing Complex at the King Abdullah Economic City (KAEC) to mark the company’s latest export achievement of more than 300 Saudi-made YORK Scroll Chillers to the American market during this year, with a total market value of 100 million Riyals in the initial phase, the […]

     
  • Saudi Internet Penetration Reaches 99%
     

    According to the “Internet Saudi Arabia” report for 2023, published by the Communications, Space, and Technology Commission, both men and women demonstrated high levels of internet usage, with rates of 99.3 percent and 98.5 percent respectively. The report also says that 52.3% of users spend more than seven hours online each day.  

     
  • Saudi Car Market: Tops GCC, women purchase 30% of cars sold in 2023
     

    In 2023, Saudi Arabia sold 729,466 cars, a 17% increase from the previous year. The Toyota Yaris was the best-selling car, accounting for 37% of the sales. Car sales are expected to surge to 870,000 this year.

     
  • Nusuk pilgrim card launched
     

    With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.

     
  • 10th Saudi Film Festival Underway
     

    The 10th Saudi Film Festival runs May 2-9 at the King Abdulaziz Center for World Culture (Ithra) in Dhahran.  Debuting in 2008 this year’s edition has two main themes: Indian cinema and sci-fi films.

     
  • PIF and BlackRock Launch $5bn Investment Fund
     

    BlackRock and Public Investment Fund signed a non-binding MOU that calls for the sovereign fund to invest up to $5bn in stages as the new firm hits agreed milestones. Investments will provide capital for a variety of funds invested in public equities and bonds as well as alternative assets.

     
  • Saudi Space Agency and WEF Establish Space C4IR Center
     

    The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR)  focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.

     
  • Special World Economic Forum Convenes in Riyadh
     

    The World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh convenes 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared global challenges.

     
  • Vision 2030 Marks 8th Year Since Launch
     

    Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.

     

MUST-READS

  • How the convergence of AI and 5G is transforming Saudi Arabia’s smart technologies

    According to a recent PwC report called “The Smarter Phone,” AI-enabled smartphones are already integrating with daily activities, leveraging predictive analytics to automate routine processes and provide real-time solutions. AI-powered assistants, image recognition and voice command systems are increasingly becoming integral parts of mobile devices, enabling more intuitive user interfaces and features such as facial recognition, automated photo sorting and smart scheduling.

  • Saudi Arabia sets strict health criteria for Haj 2025, urges vulnerable groups to postpone

    The Saudi Ministry of Health recommended that individuals who are elderly (over 65), have chronic diseases, such as heart, kidney, or respiratory issues, or diabetes, have immune deficiencies, whether congenital or acquired, have cancer, are terminally ill, are pregnant, or are children under 12 should consider postponing their Haj and Umrah pilgrimage this year.

  • Saudi Arabia targets control of Alba to bolster metals ambitions

    State-controlled Saudi Arabian Mining Co., known as Ma’aden, announced a series of deals this week involving Aluminium Bahrain B.S.C., or Alba. When those deals close, the Saudi company “hopes to be a majority shareholder in Alba,” Ma’aden chief executive officer Bob Wilt said in an interview in Riyadh. “I’m very bullish on aluminum,” Wilt said. “The energy transition doesn’t happen without aluminum, so if we want to be a critical minerals and processing hub, we’ve got to control the feedstock.”

  • Ronaldo gets new coach in Saudi Arabia with Pioli hired by Al-Nassr

    Al-Nassr appointed former AC Milan boss Stefano Pioli on Wednesday, a day after it fired Luis Castro. The 58-year-old Pioli led Milan to the Serie A title in 2022 and then took the team to the last four of the Champions League in 2023 before leaving the club in May. Castro was fired after a slow start to the season with just one win in three league games.

  • Can Saudi Arabia’s solar manufacturing initiative be a game changer?

    Saudi Arabia is actively developing its solar power capacity through various projects. In July, the Kingdom’s Public Investment Fund (PIF) announced partnerships with China’s JinkoSolar and TCL Zhonghuan, leading producers of solar modules and silicon wafers, along with wind turbine manufacturer Envision Energy. These collaborations will introduce 30GW of solar PV manufacturing capacity – from ingots to modules – to Saudi Arabia, supporting the goal of localizing 75 percent of renewable energy components by 2030, as outlined in the National Renewable Energy Program.

  • Saudi Arabia approves first exchange-traded funds tracking Hong Kong-listed equities

    Saudi Arabia has granted approval for its first exchange-traded funds (ETFs) tracking equities listed in Hong Kong on Tuesday, the Capital Market Authority (CMA) said, marking the debut of such a product in the Middle East. The move follows efforts by Beijing and Hong Kong to deepen ties with Arab countries in response to escalating tensions with the West.

  • Saudi Arabia winger in intensive care after fall

    Saudi Arabia international Fahad Al-Muwallad is in intensive care after falling from a balcony at his apartment in Dubai. The player's club, Al-Shabab, said an accident occurred on Thursday at a home owned by the 30-year-old. Local police confirmed that Al-Muwallad, who has represented his country 78 times, "fell from the balcony of his second-floor home".

  • Saudi Arabia: Former Public Security Chief Jailed 20 Years Over Forgery, Bribery And Embezzlement

    The court issued an irrevocable ruling and jailed Lt. Gen. Khalid bin Qarar Al-Harbi for an initial 10 years for forgery and bribery. His SR1 million fine and seized embezzled funds will be deposited in the government’s treasury. Al-Harbi was also handed an additional 10 years’ imprisonment after the court convicted him of misusing authority for personal gains, exploiting government contracts and embezzling public funds.

  • Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’

    “I think within the next year,” Habib, Deputy CEO of SDAIA’s strategy management office, told CNBC’s Dan Murphy after being asked about a potential timeline. It’s a significant expectation given that the United States’ strict export controls have thus far prevented the chips’ export to the kingdom. Habib made the comments on the sidelines of GAIN, Saudi Arabia’s international AI summit, which took place in Riyadh this week.

  • Chinese Premier vows stronger trade, investment ties with Saudi Arabia

    “China and Saudi Arabia should further expand the scale of bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure construction … [while expanding] to new energy, information and communications, digital economy, green economy … and work together to maintain the stability of the global industrial supply chain,” the premier said, according to the official People’s Daily newspaper.