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  • Reforms shaping the new Saudi business landscape

    A virtual dialogue to discuss the recent reforms that have been implemented in Saudi Arabia in an effort to ease conducting business by creating and fostering a fair and transparent playing field was held under the aegis of the American Chamber of Commerce Saudi Arabia (AmChamKSA) and the Saudi Arabian Oversight and Anti-Corruption Authority (Nazaha). Seven other leading Saudi authorities including: Ministry of Investment (MISA), General Authority of Foreign Trade (GAFT), Saudi Standards Saber Platform (SASO), Ministry of Finance Etimad Platform (MoF), General Authority of Zakat and Tax (GAZT), National Competitiveness Center (NCC), and Saudi Customs Authority (SCA), also participated.

  • How Saudi Aramco leverages blockchain to boost business

    The Aramco Trading Company (ATC) has recently invested in Blockchain platforms VAKT and Gateway. VAKT is expected to help improve post-trade processes with regards to contracts, all aspects of logistics, invoicing data and settlements. The use of Gateway is being explored by ATC to further enhance efficiency and reduce the risk of fraud with Bill of Lading documents.

  • New business growth continues but slows in March

    The headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index™ (PMI) fell from 53.9 in February to 53.3 in March, indicating a slightly softer, but still relatively solid, upturn in the performance of the non-oil private sector economy. The index has now fallen 3.8 points from its recent peak in January, suggesting that the recovery from COVID-19 has lost some momentum over the first quarter.

  • New initiative aims to connect Saudi women with US business leaders

    The project aims to provide women in the Kingdom with resources to help them pursue careers as CEOs, investors and startup owners, so that they can contribute to job creation and positive economic change. “Ignite will bring together Saudi women with American entrepreneurs and business leaders in a series of workshops and networking events to build relationships, share knowledge and develop partnership opportunities,” Strong said.

  • Saudi Aramco role in private investment drive guided by business not state, says CEO

    The government has not spelled out how the programme will work in detail, but Nasser said private companies would seek incentives from the government - whether infrastructure, fiscal or regulatory support - and Aramco would determine whether to back a project as a partner. “This is a voluntary programme. It’s on the private sector to bring these projects, to ask for incentives,” he said.

  • 6 Powerful Women Transforming the Business World in the GCC

    Mentioned as one of BBC’s most powerful and inspiring women in 2020, Sarah bint Yousif Al Amiri has also made history by leading the mission of launching UAE’s Hope probe to Mars in February 2021. The UAE Minister of State for Advanced Technology and Chairperson of UAE’s space agency made UAE the first Arab country to reach the Red Planet.

  • Saudi female business leaders poised for growth: KPMG

    Some 66% of female leaders in Saudi Arabia and more than half (58%) of global respondents remain confident or very confident about their companies’ growth prospects over the next three years, a KPMG survey found. A significant majority of global female leaders (79%) and female leaders in Saudi Arabia (81%) stated that their company’s digital transformation projects have been accelerated during the Covid-19 crisis.

  • ‘Everyone is freaking out’: Saudi Arabia’s ultimatum rattles big business

    “The Saudi government is the biggest spender of any entity across the region, so you have to follow the money. You will probably have some takers on this request, but will take a long time for people to move their lives from the UAE to Riyadh because of the lifestyle.”

  • High Influx of New Business in the Saudi Non-Oil Private Sector

    The headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index™ (PMI) posted at 53.9 in February, to indicate a solid improvement in the health of the non-oil private sector economy in the kingdom.

  • Number of businesses in Saudi military industries sector grows to 70

    The authority said it had issued 114 licenses to 70 local and international companies by the end of last year, allowing them to operate in the sector. Of those, 57 percent were manufacturing licenses, 25 percent were for military services, and 18 percent were supply licenses. National companies accounted for 81 percent of the licenses, and foreign and mixed-ownership companies for the remaining 19 percent.