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  • Saudi Arabia to showcase $100bn aviation investment opportunities at WEF

    he investment showcase will highlight projects and incentives to unlock more than $100 billion of investment into the Kingdom's booming aviation sector across airports, airlines, ground services, cargo and logistics. As part of the more than $100 billion of investment opportunities, airports account for more than $50 billion, new aircraft orders around $40 billion, while the remaining $10 billion is comprised of other projects, including $5 billion in special logistics areas around the three main airports in Riyadh, Jeddah, and Dammam.      

  • Saudi: New executive regulations for law practice come into force

    The Saudi Bar Association (SBA) has announced the enforcement of the new executive regulations for law practice, effective from Jan. 15. These regulations replace the previous ones issued in 1423 AH. The updated regulations aimed to enhance the organizational framework of the legal profession, aligning it with modern international best practices. They also seek to strengthen the Kingdom’s competitiveness and improve its business environment by ensuring the availability of essential legal services for investors and business owners across various sectors. The new regulations include significant updates and reforms, such as the repeal of the rules on disciplinary action and the filing and adjudication of related complaints issued in 1443 AH. Additionally, the executive regulations for licensing foreign law firms, issued in 1444 AH, and the rules for mitigating conflicts of interest for former judiciary employees and their equivalents practicing law, issued in 1444 AH, will be annulled.

  • New Honeywell centre cements Saudi Arabia’s position in global cybersecurity market

    Honeywell recently launched a new centre in Saudi Arabia’s Jubail to provide localised cybersecurity services for critical industrial sectors in the Kingdom, according to a press release. Honeywell Himaya Center, which was announced at the In-Kingdom Total Value Add (iktva) Forum and Exhibition 2025 in Dhahran, will support Saudi Arabia’s digital transformation and strengthen its position as a key player in the global cybersecurity market.

  • KAUST leads efforts to kickstart an innovative cement industry in Saudi Arabia

    As part of efforts to support the Kingdom in diversifying the Saudi economy and creating innovative new industries, KAUST has announced the Future Cement Initiative (FCI) to guide cement manufacturing. KAUST, the Ministry of Industries and Mineral Resources, and the National Committee of Cement Companies form the core group of founding partners of the FCI. Saudi Arabia’s industrial sectors have surged by 60% over recent years, reflecting the country’s efforts to diversify its economy and position itself as a global manufacturing power. Many of these projects are cement intensive, and a primary goal of the FCI aims to improve the economic and environmental competitiveness of cement manufacturing in Saudi Arabia through the development of cost-effective approaches and innovative technologies. In turn, this will position Saudi Arabia as a leader in the Middle East region’s cement industry.

  • LIV Golf announces multiyear media rights deal with Fox Sports

    LIV Golf announced a multiyear media rights agreement with Fox Sports to broadcast the pro golf tour to U.S. viewers, starting in February. The tour’s 14-tournament season will air on Fox, FS1 and other Fox networks, and will also stream on the Fox Sports and LIV Golf+ apps. The LIV Golf League features 13 teams of four golfers each, including two-time major champions Jon Rahm and Bryson DeChambeau. The news comes a day after the Saudi-financed sports organization named Scott O’Neil, the former CEO of Merlin Entertainments and Harris Blitzer Sports & Entertainment, as its new CEO. He replaces Greg Norman, the tour’s first commissioner and CEO, who will remain informally involved with LIV. LIV Golf was previously broadcasted on the Nexstar Media Group-operated CW Network. The upstart golf league struggled to bring in big audiences on The CW.

  • IMF lowers 2025 Mena growth forecast on slowing Saudi economy

    The International Monetary Fund on Friday lowered its growth forecast for the Middle East and North Africa this year, largely reflecting a slowdown in Saudi Arabia's economy due to Opec+ production cuts. The broader Mena economy is projected to grow by 3.5 per cent this year, according to the IMF's latest World Economic Outlook, half a percentage point down from its October update. Saudi Arabia, the biggest Arab economy and Opec’s top oil producer, is forecast to grow by 3.3 per cent in 2025, a downwards revision of 1.3 percentage points. Its economy is projected to grow by 4.1 per cent in 2026, which is down by 0.3 percentage points from the fund's October forecast.

  • Saudi Minister of Finance Participates in 2025 World Economic Forum Annual Meeting

    His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, will participate as a member of the Saudi delegation at the 2025 World Economic Forum (WEF) Annual Meeting, scheduled to be held January 20-24, 2025 in Davos-Klosters, Switzerland under the theme "Collaboration for the Intelligent Age". During the 2025 WEF Annual Meeting, Minister Aljadaan will participate in several sessions to discuss various topics including new approaches to measuring growth, ways to drive action through international forums, challenges facing emerging economies, MENA region's economic growth, economic diversification's impact on sustainability, GCC's role in global economic growth, as well as Saudi Arabia's economic transformation.

  • A Saudi Arabian Driver Won the Dakar Rally For the First Time on Home Soil

    For the first time since 1994, the overall Dakar winner won on home soil as Yazeed Al Rajhi became the first Saudi Arabian to win the desert rally. The only other competitor to win at home was Pierre Lartigue in his first of three consecutive victories and the only one to finish back in Paris. Al Rajhi won as a privateer Toyota entry in a Dakar that Toyotas dominated after Carlos Sainz Sr.'s Audi, which captured victory for Audi for the first time in last year's Dakar, was forced to exit the rally during stage three following a crash in stage two.

  • Saudi Arabia issues nearly 522K commercial records in 2024

    Saudi Arabia experienced a 60 percent increase in commercial records in 2024, with a total of 521,969 issued, compared to the previous year, according to the Ministry of Commerce. The number of commercial records granted in 2023 was 368,038, the ministry said in a statement outlining its achievements for 2024. Last year, there were 368,038 registrations from establishments and 153,931 from companies, bringing the total number of active commercial records in the Kingdom to 1,606,169.

  • Riyadh’s property boom puts home ownership beyond reach of many Saudis

    Saudi Arabia’s housing minister has acknowledged that soaring property prices in Riyadh have become a “concern” for the government, highlighting the difficulties facing officials desperate to turn home ownership into a reality for the vast majority of its citizens in the capital. Property prices in Riyadh have surged since the pandemic, with the cost of a house now almost 81 per cent higher than in 2020, according to real estate researchers Knight Frank. Apartment prices in the city, meanwhile, have increased 56 per cent over the same period. The surge in prices is complicating Crown Prince Mohammed bin Salman’s attempts to hit a 70 per cent goal for owner-occupancy by 2030. At the moment, 63 per cent of Saudis own their own home, up from 47 per cent in 2016, when the Crown Prince’s ambitious reforms of the Saudi economy were first unveiled. But the figure in Riyadh, where 4.4mn of 18.8mn Saudis live, is far lower at 53.2 per cent, according to the latest census data, taken from 2022.