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  • A look at market share of major Saudi perfume companies

    The prospectus for the initial public offering (IPO) of Almajed for Oud Co. on the Main Market (TASI) revealed the market shares of companies operating in the Saudi perfume market in 2022. According to the prospectus, the top five frontrunners in the Saudi perfume market accounted for 36.9% of the total market shares in 2022, as the sector was relatively fragmented at the time. The remaining competitors took 64.3% of the total.

  • Ivanhoe Electric’s Saudi JV begins drilling first target

    Ivanhoe Electric (NYSE American: IE) (TSX: IE) said on Monday its joint venture in Saudi Arabia has started drill testing the first of two chargeability anomalies identified near the Al Amar gold-copper-zinc mine, which is owned by Ma’aden, the state-owned mining company and Ivanhoe’s 50/50 partner. In November 2023, the JV kicked off its exploration campaign on 48,500 km2 of land on the Arabian Shield, initially targeting the areas surrounding Al Amar that are considered highly prospective for volcanic massive sulphide (VMS) and epithermal deposit types.

  • Saudi Wealth Fund’s Returns Boosted by Global Markets Rally

    The Public Investment Fund’s annualized returns since 2017 rose to 8.7%, compared with 8% a year earlier, according to an annual report published Monday. Performance was boosted by last year’s rally in global markets, with the S&P 500 Index returning 24% in 2023.

  • The Rise of Eating Disorders in Saudi Arabia

    While eating disorders used to be considered a Western phenomenon, they have now become a global health crisis. Many experts link the rise of eating disorders in other parts of the world to a spread in Western values and a ‘thin’ beauty ideal, underpinning body satisfaction and other core elements of eating disorder pathology. Equally, eating disorders in other cultures sometimes take different forms from those seen in the West, causing them to be missed or overlooked.

  • Saudi’s Bahri signs almost $1 billion deal for nine oil tankers

    The National Shipping Company of Saudi Arabia (Bahri) (4030.SE), opens new tab has signed a purchase agreement to acquire nine Very Large Crude Carriers (VLCCs) from Capital Maritime and Trading Corporation for approximately 3.75 billion Saudi riyal ($999 million), the company announced on Tuesday.
    The purchase is part of a modernisation drive and will enable the company to start phasing out older vessels, Bahri said in a statement issued via Saudi Arabia's stock exchange.

  • Saudi Fund Said to Eye Boeing, Airbus Jets for New Cargo Airline

    The cargo-hauling operation would serve flag-carrier Saudia and startup Riyadh Air, according to people familiar with the matter, who asked not to be identified as the talks are private. The Public Investment Fund is in discussions with both planemakers and lessors to acquire Boeing 777 and Airbus A350 freighters, the people said. The talks are at an early stage. No final decisions have been made and the fund may ultimately decide to delay or scrap the plans.

  • RDIA launches national initiative to strengthen Saudi Arabia’s semiconductor sector

    The eight-month training, which will run from September 29 to May 29, targets individuals with bachelor’s degrees in electrical and computer engineering or related fields. Participants will be poised to join companies within the National Semiconductor Hub, directly contributing to the advancement of Saudi Arabia’s semiconductor industry.

  • How prepared is Saudi Arabia to handle mpox?

    An international outbreak of a milder variant of mpox occurred between July 2022 and May 2023. The first cluster of cases was reported in the UK, followed soon after by more in other parts of the world, including Europe and North America. It was the first time that a transmission chain had been reported outside of Africa without any known epidemiological links to West or Central Africa. In all, 87,000 cases were reported in 111 countries, and 140 people died.

  • Rare blue supermoon to light up Saudi Arabia’s skies

    The first supermoon of 2024 is set to light up the night skies of Saudi Arabia on Monday night, a rare event during which the moon is closer to Earth and thus appears larger and brighter than usual.

  • Saudi Arabia’s premier auction event brings together global falcon breeders to Riyadh

    The event, running through August 24th, features 35 breeding farms representing more than 16 countries. Its significance is underscored by impressive sales figures, including a record-breaking falcon sold for 1.75 million Saudi Riyals in 2021. The auction has generated more than 18 million Riyals in total sales since its launch.