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  • Saudi Arabia: Alstom to Enhance Reliability of East-West Freight Corridor

    As part of this contract, Alstom will implement its HealthHub™ technology to enable real-time locomotive monitoring and predictive maintenance, minimising downtime and optimising fleet availability. This digital solution is expected to ensure the long-term operational performance of locomotives connecting key ports like Dammam and Jubail with the Riyadh dry port, facilitating the smooth flow of goods across the region.

  • How Saudi Arabia Turned Back Climate Progress at COP29

    The Gulf state surprised the world at COP28 when it joined nearly 200 nations in agreeing to transition away from fossil fuels, but it’s been trying to walk that historic moment back ever since. “The Arab Group will not accept any text that targets specific sectors, including fossil fuels,” Saudi representative Albara Tawfiq made clear to delegates at this month’s United Nations meeting in Baku. After three decades of being the main opposition at the annual climate talks, the Saudis have developed a sophisticated playbook, according to veteran negotiators. They are masters of the arcane and complicated rules that govern the COP process, said multiple people who participated in the closed-door debates, and used that skill to raise oblique objections to run down the clock and present poor compromises that were non-starters.

  • Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia

    Addressing the World Investment Conference in Riyadh on Monday, the minister confirmed that those who obtained the premium residency are treated as if they were in their home countries. About 2,500 investors from 30 countries are participating in the conference. Referring to the investment climate and its advancement since the launch of Vision 2030, Al-Falih said that investment flows have now tripled compared to the period before the launch of the Vision. “The rate of the gross domestic product (GDP) recorded an increase of 70 percent, reaching $1.1 trillion during the same period,” he said while noting that half of this comes from non-oil sectors.

  • Saudi Arabia: Shaping Global Urbanization Discussions at Urban 20 Summit

    A Saudi delegation, led by Advisor at the General Secretariat of the Saudi Arabian Council of Ministers Fahd Al-Rasheed, actively participated in the 7th Urban 20 (U20) Global Summit in Rio de Janeiro. The summit, one of the world’s most influential urban development forums, highlighted Saudi Arabia's continued leadership in shaping global urbanization strategies. The U20 gathers cities from G20 member states to address pressing economic, climate, and developmental challenges. Saudi Arabia has played a prominent role in the forum since 2019, with Al-Rasheed previously serving as Chair in 2020 during Saudi Arabia’s G20 presidency.

  • Saudi Arabia Cinema Market Forecast Report and Company Analysis 2024-2025 & 2033, Profile of AMC, IMAX, Cinepolis, VOX Cinemas and Empire Cinemas

    Saudi Arabia Cinema Market will reach US$ 1.29 billion by 2033, up from US$ 590.32 million in 2024, with a CAGR of 9.13% between 2025 and 2033. The improvement of infrastructure is a key factor propelling the expansion of the Saudi film industry. To improve accessibility and convenience for viewers, the public and private sectors are making significant investments in the construction of contemporary movie theater complexes around the Kingdom.

  • Saudi Arabia reveals strides in local defense production as it races towards ambitious 2030 goal

    “The Authority [GAMI] worked to sign more than 53 industrial cooperation programs worth approximately 35 billion riyals [$9.32 billion] with local and international companies, including approximately 13 billion riyals [$3.46 billion] purchase orders for local companies,” he said. Saudia Arabia’s General Authority for Military Industries (GAMI) “issued many policies and legislation that regulate and stimulate the sector and enhance the competitiveness of the local product, which raised the localization rate from 4 percent in 2018 to 19.35 percent at the end of last year of military spending,” GAMI head Ahmad Abdulaziz Al-Ohali said Thursday during a dialogue session at the Local Content Forum.

  • IPL teams set to splash the cash at ‘mega-auction’ in Saudi Arabia

    The Indian Premier League opens its "mega-auction" later Sunday in Saudi Arabia with teams primed to splash out millions of dollars on world-class cricketers for the lucrative Twenty20 tournament. A total of 574 players are up for grabs with Indian wicketkeeper Rishabh Pant, England veteran James Anderson and New Zealand all-rounder Rachin Ravindra among the top names in contention at the two-day auction in Jeddah. Australian pacer Mitchell Starc smashed auction records last time when he signed with Kolkata Knight Riders for $2.98 million. An incremental rise in the tournament's salary cap means his price may be potentially eclipsed at the auction, which will be broadcast live to an audience of millions.

  • CEO outlines Saudi Arabia’s 2034 World Cup bid

    On December 11, the world will officially know where the 2034 World Cup will be held, with the announcement set to take place at FIFA’s next congress. With no competing bids, Saudi Arabia is expected to be confirmed as the host nation — a bold candidacy that has faced international allegations of human rights violations and skepticism about LGBTQIA+ acceptance in the country. At the forefront of the project is Hammad Albalawi, a Newcastle supporter, who built his career at the Saudi Ministry of Sports and now serves as the CEO of Saudi Arabia’s bid to host the World Cup.

  • Saudi Arabia dipping its toes into cricket might be the start of something big

    The auction marks Saudi Arabia's first major play in cricket, though the foundations have been laid gradually. Prince Mishal bin Saud Al-Saud, chairman of the Saudi Arabia Cricket Federation (SACF), was pictured with BCCI secretary Jay Shah at the opening match of IPL 2023, while state-backed Saudi companies have signed lucrative sponsorship deals in the past. Visit Saudi, the state tourism arm, and Aramco, the state-owned oil giant, have both been prominent IPL sponsors. Aramco has also signed a long-term agreement as a "premier partner" of the ICC, including securing naming rights for match awards at World Cups. This year Rajasthan Royals wore the logo of Neom, a futuristic city being built on the Saudi coast, on their shirts.

  • Citi gets license for regional headquarters in Saudi Arabia, memo shows

    U.S. bank Citigroup (C.N), opens new tab has received approval to establish its regional headquarters in Saudi Arabia's Riyadh, according to an internal memo seen by Reuters on Friday. Riyadh has been looking to attract more companies to set up their regional headquarters in the kingdom by offering tax breaks as Crown Prince Mohammed bin Salman looks to wean the economy off oil by attracting foreign investment. Saudi Arabia's new rules also mandate foreign firms to have regional headquarters in the kingdom or risk losing hundreds of billions of dollars in lucrative government contracts.