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  • Saudi Announces Four-Day Holiday For 94th National Day

    The slogan “We Dream and Achieve” isn’t just catchy—it’s a reflection of the Kingdom’s ambitious projects and leadership in innovation. It perfectly captures the spirit of progress and transformation that defines Saudi Arabia today. The GEA is encouraging all government and private organizations to get on board with the theme and use the official branding to make this National Day unforgettable.

  • Saudi Perfume Maker’s $188 Million IPO Sells Out In Hours

    Saudi Arabia-based perfume maker Al Majed for Oud Co. received more orders for its initial public offering than shares available in just a few hours after books opened on the deal on Sunday. The company is selling a 30% stake — 7.5 million shares — and seeks to raise as much as $188 million. Institutional investors fully covered the order book throughout the 90 riyals to 94 riyals ($24 to $25) price range, according to people familiar with the matter, who asked not to be identified as the information is private.

  • Saudi Minister of Interior Welcome US Ambassador to KSA

    The meeting highlighted the presence of the Deputy Minister of Interior, Dr. Nasser bin Abdulaziz Al-Daoud, and the Assistant Minister of Interior, Dr. Hisham bin Abdulrahman Al-Falih, alongside the Undersecretary of the Ministry of Interior, Dr. Khalid bin Mohammed Al-Battal, and the Undersecretary of the Ministry of Interior for Security Affairs, Mr. Mohammed bin Muhanna Al-Muhanna, and a number of senior officials at the Ministry of Interior.

  • Saudi Arabia’s residential landscape changing as smart cities rise

    Saudi Arabia was represented five times in the 2024 edition of the International Institute for Management Development Smart City Index — with Riyadh, Madinah, and Makkah making the list along with Jeddah and Al-Khobar. With the $500 billion giga-project of NEOM set to lead the way with smart technology, it is no surprise the number of high-net-worth individuals flocking to Saudi Arabia is set to rise, with a report released by Henley & Partners in June projecting over 300 millionaires would be moving to the Kingdom in 2024.

  • Saudi efforts to attract foreign educational companies and schools pay rich dividends

    These efforts received a shot in the arm with the latest move to formulate an ambitious program to facilitate the attraction of the best foreign companies and schools from abroad. Three Saudi government agencies, represented by the Ministry of Education, Ministry of Investment and the Royal Commission for Riyadh City, are working on this program, according to Abdulaziz Al-Fahd, chairman of the National Committee for Training and Private Education at the Federation of Saudi Chambers.

  • Saudi real estate: BlackRock signs major property financing deal

    The minister and his accompanying delegation are in the US to discuss ways to boost Saudi-American partnerships in the urban development, construction, building, finance and real estate development sectors. The agreement was signed by SRC CEO Majid Fahd Al Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock KSA Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony.

  • Saudi Telecom Jumps Most Since 2008 After Dividend Boost

    Shares in Saudi Arabia’s top telecom company rose the most in almost 16 years after the company announced plans to boost quarterly dividends and said it may consider handing over more money to investors via special payments. Saudi Telecom Co. jumped 9.9% on the Saudi stock exchange on Sunday to 43.70 riyals ($11.65) a share, its biggest move on a closing basis since October 2008.

  • US return of offensive weapons sales to top customer Saudi Arabia set to boost revenue

    The Biden administration reversed the three-year-old policy this month, which was originally meant to pressure the kingdom over its involvement in the Yemen war – a move that the US may now be regretting given its own need to curb the Houthis now. Saudi Arabia – the main recipient of US arms exports from 2019-2023, according to the Stockholm International Peace Research Institute (Sipri), could boost revenue that made up 15 per cent of total US global arms exports at the time.

  • Saudi Arabia’s Public Investment Fund (PIF) boosts economic diversification

    Saudi Arabia's Public Investment Fund (PIF) has managed to double the value of its investment portfolio aimed at developing and enhancing emerging sectors, reaching 943 billion Saudi Riyals (equivalent to EUR 231 billion) by the end of 2023.  This significant increase reflects a key strategy to strengthen its role in the Kingdom's economic transformation and diversification of its revenue sources, thereby reducing dependence on oil.

  • Commentary: OPEC’s and Saudi Arabia’s moment of truth

    In the next few weeks, Saudi Arabia and its OPEC allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook. The recent slides in front-month Brent futures prices, calendar spreads and refinery margins, amid concerns about the outlook for petroleum consumption, have dramatised the danger of getting it wrong. Boosting production despite downward revisions to consumption growth and a continued output increases from rivals in the United States, Canada, Brazil and Guyana risks another accumulation of inventories and a slump in prices.