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  • Saudi Arabia hosted 106 million visitors in 2023, but is pushing for more tourists from abroad

    Saudi Arabia said tourist numbers climbed above 100 million last year, but the big aim for the Kingdom is to attract more international travelers. Becky Anderson asks the Saudi tourism minister how they'll do that.

  • Hong Kong start-up hubs expand city’s collaboration with Saudi Arabia to forge closer ties a year after John Lee visit

    Hong Kong Science and Technology Parks (HKSTP) and Cyberport each signed memorandums of understanding with Saudi Arabia’s King Abdulaziz City for Science and Technology in Riyadh on Monday, a year after Chief Executive John Lee Ka-chiu attended the Leap technology conference to foster closer ties between the two markets. The third annual Leap event is the first to feature a Hong Kong pavilion, where HKSTP and Cyberport had eight and seven companies exhibiting, respectively.

  • Digital oasis: Luxury and tech converge in Saudi Arabia

    With a young population keen on NFTs and new tech, Saudi Arabia is becoming a hub for digital innovation. Digital stores and Web3 are the way to local consumers’ hearts and wallets.

  • Saudi Arabia’s GAS Secures $159.4 Million EPC Contracts for Saudi Gas Pipelines

    Gas Arabian Services Company (GAS) has signed two engineering, procurement, and construction (EPC) contracts with the state-owned Saudi Power Procurement Company (SPPC), the company announced on Sunday, March 3, 2023. The contract is 598.01 million Saudi riyals ($159.46 million) in a combined project value. The first contract, valued at SAR 341.90 million ($91.2 million), pertains to constructing a gas pipeline in Qassim.

  • Saudi Arabia unveils new F1 circuit with 20-storey-high first corner

    Saudi Arabia has formally announced its new Qiddiya racing circuit, which features a 20-storey-high opening corner and is due to host the country’s Formula 1 grand prix.

  • Saudi Arabian private capital increasingly focused on domestic growth in 2024 and beyond

    The report finds two key themes are driving the future of Saudi Arabia’s position in the private capital landscape: The first theme is Saudi Arabia’s government, investors, and corporates are fostering partnerships with fund managers to bring further knowledge, infrastructure development, and co-investment to the country. From fund managers’ perspectives, Saudi Arabia is now more than just a location for raising investor capital. The second theme is Saudi Arabian appetite for domestic investment through private markets, which continues to swell as home-grown entrepreneurialism, and so investment opportunities, burgeon.

  • Saudi Arabia and the UAE among Opec+ members extending oil output cuts

    Several members of the Opec+ group oil producers, including Saudi Arabia, the UAE and Kuwait, will extend oil output cuts as part of efforts to support market balance and stability. In total, Opec+ members are extending additional voluntary cuts of 2.2 million barrels per day to the end of second quarter, the Opec secretariat said in a statement on Sunday. The caps on production are calculated from the 2024 required production level, set out in the Opec ministerial meeting in June last year. The move is in addition to the cuts announced in April last year, which have been extended until the end of 2024.

  • Niemann wins in Saudi Arabia for 2nd LIV Golf title of the year

    Joaquin Niemann won his second LIV Golf title in three starts, closing with a 4-under 66 on Sunday at LIV Golf Jeddah for a four-shot victory over Louis Oosthuizen and Charl Schwartzel. Niemann now has three wins in the last three months, starting with the Australian Open victory in December that allowed him to rejoin the European tour and eventually put him on the path toward getting invited to the Masters.

  • Foster + Partners designing two-kilometre-high skyscraper in Saudi Arabia

    UK studio Foster + Partners is reportedly designing a two-kilometre-high skyscraper in Riyadh, Saudi Arabia, which if completed would be the world's tallest building. According to a report in UK architecture magazine Architects' Journal (AJ), the UK studio is designing the megatall skyscraper for a site to the north of the Saudi capital. The AJ reports that the skyscraper will be located near the city's international airport, which is currently being redeveloped by Foster + Partners.

  • Saudi Arabia launches bid campaign to host 2034 World Cup

    Saudi Arabia is the only contender to host the 2034 World Cup after Australia opted against a bid. The Gulf state submitted a letter of intent to Fifa last October declaring its interest in hosting. Despite being the only bidder, Fifa regulations require Saudi Arabia to formally bid for the tournament. In December, Saudi Arabia’s sports minister Prince Abdulaziz bin Turki Al Faisal defended the country’s right to host the World Cup, adding that claims of sportswashing were “very shallow”.