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  • Sotheby’s Establishes a Foothold in Saudi Arabia After Hosting the Kingdom’s First Major Auction

    The results were like the two-part evening sale’s lineup: a mixed bag. The house took in $17.3 million (estimate: $14 million–$20 million) across 117 lots, with works of fine art, luxury objects, and sports memorabilia among them. However, the value of the house’s foray into the desert kingdom was never going to be confined to the depth of bidding alone. The historic outdoor auction served as a portal into the Saudi art and luxury markets (terra incognita for international auction houses), and it will be appraised against the long-term success of Sotheby’s in the country.

  • Saudi Arabian Unicorn Tabby Taps HSBC, JPMorgan, Morgan Stanley for IPO

    Saudi Arabia-based Tabby, one of the Middle East’s first fintech unicorns, has hired banks to help prepare for an eventual initial public offering, according to people familiar with the matter. The buy-now, pay-later firm is working with HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley on the deal, the people said, asking not to be identified as the information isn’t public. The plans at an early stage, and no final decisions have been made on the timing or the size of the offer, they said. The firm could potentially look to raise additional cash ahead of the listing, according to one of the people. It was valued at $1.5 billion in its most recent funding round, in November 2023.

  • Deals worth $15bn on day one of Saudi Leap tech event

    Investment deals worth almost $15 billion have been announced on the first day of the Leap 25 tech event in Riyadh. The Saudi communications ministry said that deals signed on day one of the four-day event, which ends on Wednesday, totalled $14.9 billion. The deals included plans for a manufacturing plant in the Saudi capital by the Chinese computer-maker Lenovo and the Saudi Public Investment Fund-backed technology company Alat. The plant will produce millions of Saudi-made laptops and desktops from next year and create 15,000 direct and 45,000 indirect jobs, Lenovo said.  Lenovo said it will also establish a regional headquarters in Saudi Arabia.

  • LEAP 2025: NEOM, DataVolt anounce $5bln deal to establish first sustainable AI data centre in Saudi

    The second day of LEAP 2025, Saudi Arabia’s award-winning global tech event, produced further announcements totalling US$6.13 billion of investments in technology and Artificial Intelligence (AI). Leading the roll call of mega investments to continue the evolution of the Kingdom’s technology ecosystem, DataVolt and Saudi Arabian giga-project NEOM announced a US$5 billion partnership to establish the first fully sustainable AI data centre with a capacity of 1.5 gigawatts in Oxagon – the floating industrial city being developed in the Red Sea.

  • China Harbour’s moduling building factory begins operations in Saudi Arabia

    Spanning approximately 200,000 square meters, the factory will supply prefabricated components for the Sedra project's fully modular villas, while laying the industrial foundation for future prefabricated construction initiatives in Saudi Arabia, the CHEC announced in a statement on Sunday. At the inauguration ceremony on Sunday, Iain McBride, head of commercial at Saudi ROSHN Real Estate Company, praised the factory's remarkable speed of completion, commending its design, construction quality, and safety standards.

  • Saudi Arabia declares February 22 as official holiday for private and non-profit sectors to mark Founding Day

    The Ministry of Human Resources and Social Development has announced that Saturday, February 22, will be an official holiday for both the private and non-profit sectors in observance of Saudi Founding Day. Founding Day marks the anniversary of the establishment of the First Saudi State by Imam Mohammed bin Saud in 1727, celebrating the Kingdom’s deep historical roots, national unity, and strong leadership bond that has connected Saudi citizens to their rulers since the founding of Diriyah as the state’s first capital. The occasion highlights the early Saudi efforts in establishing security and stability, which profoundly shaped Saudi society after centuries of division and instability.

  • Saudi Arabia emerges as the epicentre of Media & Entertainment in 2025

    According to a January 2025 Statista report, Saudi Arabia leads the MENA media industry, holding a dominant 30% market share. This month Saudi Arabia appears to be the hub for everyone in Media & Entertainment, with Leap, followed by the Future of Media Exhibition (FOMEX) from February 19-21, and the BroadcastPro Summit KSA on February 25. We will have a stand at FOMEX too and look forward to meeting many of you there. It’s that final burst of activity before everything calms down for Ramadan – or will it?

  • ‘Red line’: Egypt condemns Netanyahu’s call for Palestinian state in Saudi Arabia

    Egypt has strongly criticised comments by Israel's prime minister, in which he suggested that a Palestinian state could be established on Saudi territory. On Thursday, Benjamin Netanyahu said during an interview with Israel's Channel 14: "The Saudis can create a Palestinian state in Saudi Arabia; they have a lot of land over there." The remarks came after Riyadh reiterated that it would only normalise relations with Israel if there was a clear pathway towards Palestinian statehood.  Without naming Netanyahu, Cairo's foreign ministry said on Saturday that it condemned the remarks "in the strongest terms".  "Egypt condemns the irresponsible Israeli statements that incite against the kingdom and call for the establishment of a Palestinian state on Saudi lands," the ministry said.

  • ‘Take the Israelis to Alaska’, Saudi official mocks Netanyahu and Trump

    A member of the powerful Saudi Shura Council, Yousef bin Trad al-Saadoun, ridiculed Israeli Prime Minister Benjamin Netanyahu’s suggestion of establishing a Palestinian state in Saudi Arabia, instead proposing that US President Donald Trump should relocate Israelis to Alaska and later to Greenland “after annexing it”.  Writing in the Saudi newspaper Okaz on Friday, al-Saadoun criticised Trump’s approach to Middle East policy, arguing that reckless decisions stem from ignoring expert advice and dismissing dialogue. He warned that "Zionists and their allies" would fail to manipulate Saudi leadership through media pressure and political manoeuvres. Taking a swipe at the Trump administration, al-Saadoun said: "The official foreign policy of the United States will seek the illegal occupation of sovereign land and the ethnic cleansing of its inhabitants, which is the Israeli approach and are considered crimes against humanity. "Anyone who follows the path of the emergence and continuation of Israel clearly realizes that this plan was certainly formulated and approved by the Zionist entity, and was handed over to their ally to read from the White House podium.

  • Seven Saudi Hospitals Rank Among Brand Finance World’s Top 250

    Seven Saudi hospitals have been recognized among Brand Finance's top 250 hospitals worldwide for 2025, underscoring the Kingdom's remarkable progress in the healthcare sector, driven by the ambitious goals of Vision 2030. Leading the way for Saudi and regional hospitals, King Faisal Specialist Hospital and Research Center secured the 15th position globally, solidifying its status as the leading medical facility in the Middle East and North Africa. The impressive Saudi representation on the list includes King Fahad Medical City, King Khalid University Hospital, King Saud Medical City, King Abdullah Medical City, National Guard Health Affairs, and King Fahad University Hospital. This significant achievement reflects the rapid advancements in healthcare infrastructure, cutting-edge medical technologies, and robust scientific research initiatives, all of which aim to establish a globally competitive healthcare system, as envisioned in Vision 2030.