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  • Saudi Arabia unveils new agricultural investment opportunities in Makkah region

    The Ministry of Environment, Water, and Agriculture (MEWA) has announced four new investment opportunities to develop integrated agricultural cities and a specialized wild seedling facility in the Makkah region. This initiative aligns with MEWA’s broader strategy to enhance food security, promote sustainable agricultural practices, and drive sector growth.

  • Saudi Dallah Healthcare to acquire stakes in healthcare firms for $176mln

    Saudi Arabia's Dallah Healthcare, which had earlier this year signed MoUs to acquire stakes in two healthcare firms, has entered into a binding share purchase and subscription agreement with Ayyan Investment Co. to acquire its shares for approximately 660 million riyals ($176 million).

  • Saudi Arabia’s $1 Trillion Investment Plan Focuses On Clean Energy And Diversification – Report

    Saudi Arabia is set to embark on a $1 trillion investment drive across six strategic sectors by 2030, according to a report from Goldman Sachs Research. This ambitious plan, termed a “capex super-cycle,” will allocate approximately 73% of the investment to non-oil sectors, up from an earlier forecast of 66%.

  • Key Amendments to the Kingdom of Saudi Arabia Labour Law Announced

    The Council of Ministers in the Kingdom of Saudi Arabia (KSA) recently approved a number of amendments to the KSA Labour Law, which will come into effect six months from publication in the KSA Legal Gazette. The amendments to the Labour Law reference revisions to the Implementing Regulations, which also have yet to be published. This LawFlash considers how the key amendments will impact employers and employees once they come into force.

  • Saudi fund’s prudence pivot is only half complete

    The fund’s 2023 annual report, opens new tab, released on Monday, showed that assets under management rose almost a third last year to $766 billion, with 76% of the total haul invested at home compared with 68% in 2022 and 51% in 2021. The local proportion is probably even higher now, after Saudi transferred 8% of state oil giant Aramco to the PIF earlier this year, helping to swell the fund’s assets to $925 billion.

  • Saudi King Salman chairs cabinet meeting, state news agency says

    Saudi Arabia's King Salman bin Abdulaziz chaired a cabinet meeting on Tuesday, state media said, for the first time since a royal decree issued by him on Aug. 8 allowing the cabinet to convene in the absence of the king, crown prince or both. Crown Prince Mohammed Bin Salman chaired the Aug. 13 cabinet session.
    The 88-year-old king of the world's biggest oil exporter, a major U.S. ally in the Middle East, received medical care for lung inflammation in May. Prince Mohammed later postponed an official visit to Japan due to the king's health.

  • Saudi 2036 Olympics ambitions: long race full of major hurdles

    If Saudi Arabia bags the second largest sport mega event in the world, attention will turn to a separate prospective bid for the 2036 Olympics. As such, it can reasonably be assumed that the government delegation’s July 31 visit to Paris also featured efforts to sway the International Olympic Committee (IOC) into agreeing that the Gulf giant is the best place to hold the games in 12 years.

  • Saudi Arabia calls on businesses to submit tax returns or face fines

    The Zakat, Tax and Customs Authority (ZATCA) has called on businesses subject to Value Added Tax (VAT), whose annual supplies of goods and services exceed SR40m ($10.7m), to submit their tax returns for July no later than August 31.

  • What has happened to Saudi Pro League’s big spending?

    "It has been a relatively quiet summer across global football," Simon Chadwick, professor of sport and geopolitical economy at Skema Business School in Paris, told BBC Sport. Chadwick attributes it to "a combination of harsh economic conditions, the late finishing of continental national team tournaments, and clubs across various territories trying to navigate local financial regulations".

  • Saudi’s Bahri and Marinakis’ Capital Maritime sign mega VLCC deal

    The National Shipping Company of Saudi Arabia (Bahri) announced today it has finalised a purchase agreement with Evangelos Marinakis-backed Capital Maritime and Trading, to acquire nine very large crude carriers (VLCCs) for a total of US$1Bn. Most of the VLCCs were built in South Korea and have an average age of 5.9 years. These vessels are fitted with scrubbers and equipped with advanced energy efficiency and low-emissions technologies to minimise environmental impact. Each VLCC has an average deadweight tonnage of approximately 311,500.