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  • Saudi Arabia unveils 15 new incentives to boost exports, logistics

    Saudi Arabia has rolled out 15 new incentives under the Authorized Economic Operator program, to boost export competitiveness, enhance supply chain security, and advance the Kingdom’s ambitions as a global logistics hub. The Ministry of Industry and Mineral Resources announced the incentives, which include key administrative benefits such as assigning liaison officers and account managers to streamline processes for investors and address challenges more efficiently. As part of the program, companies will also gain access to industrial land, with long-term leases of up to 30 years, and eligibility for the “Custom Factory on Demand” service. These measures are designed to support industrial expansion and strengthen the Kingdom's position in global trade.

  • Newlab Expands to the Kingdom of Saudi Arabia to Catalyze Critical-Tech Ecosystem and Accelerate Startup-Led Economic Growth

    Newlab Riyadh will attract leading critical-tech startups to KSA and accelerate commercialization outcomes that will translate into measurable economic impact in the Kingdom and broader region. Newlab Riyadh joins Newlab’s growing network of hubs around the world, including Newlab Brooklyn, Newlab Detroit, and Newlab Montevideo. Newlab will establish an initial beta space in Riyadh in 2025 to serve as an anchorpoint for the founding startup ecosystem while commencing development of a larger hub which is slated to open in 2026.

  • Saudi crown prince receives Greek PM in AlUla

    Saudi Arabia’s Crown Prince Mohammed bin Salman received Greek Prime Minister Kyriakos Mitsotakis at the winter camp in AlUla on Monday, Saudi Press Agency reported. The two leaders discussed relations between their countries and ways of developing cooperation in various fields. They also exchanged views on regional and international developments of concern and efforts made with regard to them. Prince Mohammed and Mitsotakis also chaired the Saudi-Greek Strategic Partnership Council during which a number of topics were reviewed.

  • Pakistan, Saudi Arabia finalise Hajj 2025 for 179,210 pilgrims

    The agreement also focuses on providing better facilities for Pakistani pilgrims. Special spaces will be allocated for Pakistani pilgrims at Mina, and the rates will be reduced. The spokesperson added that the Saudi Minister of Hajj has assured full cooperation in providing better facilities for Pakistani pilgrims. To make the Hajj journey more accessible, convenient, and comfortable, a shorter Hajj program of 20 to 25 days has been introduced. Pilgrims will have the option to choose accommodation in Madinah for 4 to 8 days. Each pilgrim will receive a specially designed bag containing a Pakistani flag, a QR code for identification, and relevant information. The Ministry of Religious Affairs spokesperson also mentioned that a special mobile app will provide all information to pilgrims on their mobile phones.

  • How Saudi Arabia became the world’s plastic cheerleader

    Saudi Arabia, the world’s biggest crude oil exporter, was the ringleader of a group of oil-rich nations including Russia and Iran that successfully blocked efforts to limit plastic production during last month’s talks in Busan, South Korea. And there’s no reason to think they won’t try to pull the same thing this year. “Saudi Arabia is now investing heavily in its environmental diplomacy,” said one negotiator from within the self-named high-ambition coalition, who was granted anonymity to discuss the closed-door talks. “I think there aren’t many delegations that can boast such a talented team of negotiators. [It] has the firing power.” For nations like Saudi Arabia, whose wealth depends on oil, it’s existential. The $700-billion-per-year-and-growing  plastics industry is set to become a key driver of oil demand as the world slowly switches from gas to electric modes of transport.

  • Saudi ports sector achieves key milestones in 2024

    In 2024, Saudi Arabia’s global ranking in container handling improved markedly, as reported by Lloyd’s List. The Kingdom ranked 15th globally, with three of its ports listed among the world’s top 100 ports. Jeddah Islamic Port climbed from 41st to 32nd place, King Abdullah Port advanced from 71st to 70th, and King Abdulaziz Port in Dammam rose from 90th to 82nd. To enhance the competitiveness of Saudi ports, Mawani signed agreements, broke ground, and inaugurated projects to establish eight logistics zones and centres at Jeddah Islamic Port and King Abdulaziz Port in Dammam. These private-sector investments, totaling approximately SAR2.9 billion, are part of a broader plan involving SAR10 billion for 18 logistics zones across the kingdom.

  • Strong post-IPO performance bodes well for Saudi flotations

    Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London Stock Exchange Group (LSEG). Eleven of these companies trade at above their IPO price as of market close on January 12 and nine are up more than 10 percent. These gains come despite the wider market’s stutters, with the main index near-flat over the past 12 months. This bodes well for this year’s IPOs. Five companies have approval to go public, including Derayah Financial, technology business Ejada Systems, animal feed maker Arabian Agricultural Investments and packaging company United Carton Industries. About 30 more are awaiting the regulatory nod to do likewise.

  • Riyadh seeks to become ‘rule shaper, not rule taker’ in mining

    The fourth Future Minerals Forum opens in Riyadh on Tuesday, highlighting Saudi Arabia’s non-oil natural resources and the mining industry that seeks to extract them. The forum, held in the King Abdulaziz International Conference Centre attached to the famous Ritz-Carlton hotel, has become progressively bigger. Now the target is 9,000 attendees, putting it on a par with the autumn gathering of the Future Investment Initiative Institute. That is a sign of the importance attached to minerals and mining as part of the Vision 2030 transformation. The message – as propounded by Bandar Alkhorayef, the minister of industry and mineral resources – is twofold.

  • Arab investments in Egypt’s economy reach nearly $40bn

    Foreign direct investments from Arab countries in Egypt totalled $39.5 billion in the final quarter of the fiscal year 2023-24, led by the UAE. The UAE’s investments in the construction sector stood at $37.5 billion, accounting for 95 percent of the total, Al Arabiya Business reported citing data from Egypt’s central bank. Last February Abu Dhabi sovereign wealth fund ADQ unveiled plans to invest $35 billion to build the “largest new city” in Egypt and drive economic growth. The fund acquired the development rights for Ras El Hekma for $24 billion and plans to develop the region as a Mediterranean holiday destination, including a free zone. ADQ will also convert $11 billion of deposits that will be used for investment in prime projects across Egypt.

  • UK to sign critical minerals partnership with Saudi Arabia

    Britain will sign a minerals cooperation partnership with Saudi Arabia that could help strengthen supply chains, create opportunities for British businesses and attract investment into the UK, the British government said on Tuesday. Britain needs a secure, long-term supply of critical minerals, such as copper, lithium and nickel, which are used to make smartphones and electric cars, but are also vital to build data centres that help develop artificial intelligence systems. On its part, Saudi Arabia, which estimates the value of its untapped mineral resources at $2.5 trillion, is aiming to become a major global hub for critical minerals trade.