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  • Lucid to deliver up to 100,000 EVs to Saudi Arabia’s government

    Saudi Arabia, a major investor in Lucid, has agreed to buy up to 100,000 Lucid EVs over the next 10 years. The deal is for at least 50,000 vehicles over that time, with Saudi Arabia’s Ministry of Finance having an option to purchase up to 50,000 more.

  • Saudi Media Group have ‘no direct links to Saudi Government’ following Chelsea bid

    It was previously reported that buyers have been advised that a cash offer for Chelsea, and being the highest bidder, will be crucial if they wish to win the race to buy the Club. Mohamed Alkhereiji is a Chelsea fan leading the private consortium to take over the Blues from Abramovich. It had previously been revealed that Saudi Media wished to renew the contracts of Antonio Rudiger and Cesar Azpilicueta and redevelop Stamford Bridge.

  • Saudi Arabia allocates 324 million sqm land to government entities

    The State Properties General Authority (SPGA) allocated more than 324 million square meters of land to 24 government agencies during 2021, while issuing 64 decisions to meet their real estate needs. The government agencies that benefited from the award are the Ministries of Education, Health, Environment, Water and Agriculture, Culture, Sports, Energy, Human Resources and Social Development, Justice, Interior, National Guard, Commerce, and Communications and Information Technology, in addition to the Public Investment Fund, the Saudi Authority for Data and Artificial Intelligence, Sharqia Development Authority, and Medina Development Authority.

  • Vice Media secretly organised $20m Saudi government festival

    Despite this, efforts were taken to keep Vice’s name off the event. Contractors who worked on the music festival – organised through Vice’s creative marketing agency Virtue – were asked to sign non-disclosure agreements, while Vice’s did not appear on public marketing material.

  • 92% Of Government IT Decision-makers Agree Saudi Arabia Is Accelerating Towards Digital Transformation

    In terms of the top three priority areas for Saudi government organizations’ digital investment in 2022 and beyond, 67% said human capital management, 61% said enterprise resource planning, 56% said core solutions, 41% said customer experience, 41% said predictive analytics, and 34% said procurement.

  • Saudi Government Enables Private Sector to Engage In Major State Projects

    The report revealed key government projects that supported the private sector, with the contribution of the Federation of Saudi Chambers, including raising the percentage of local content in mega projects, issuing the mining investment system, stimulating national exports according to incentive packages and government facilities, in addition to contributing to the franchise system and organizing the Saudi Center for Commercial Arbitration.

  • Saudi Arabia Added in iBoxx Global Government Bond Index

    The iBoxx Global Government Bond Index reflects the performance of sovereign debt instruments in local currencies for countries like Saudi Arabia, which has the fifth highest investment-grade credit rating from Moody's. This announcement comes shortly after the Saudi Exchange was added to the FTSE Emerging Market Government Bond index, which comes into effect in April 2022.

  • SEC’s power procurement unit taken over by Saudi government

    However, the Saudi Power Procurement Company remains responsible for the renewable and conventional energy projects. The Procurement company is in charge of business agreements for the procurement and sale of power and procuring fuel.

  • Saudi pilgrimage sites developer to restructure $800 mln government loan

    Jabal Omar Development Company (4250.SE), one of Saudi Arabia's largest listed developers, said on Sunday it agreed to restructure a 3 billion riyals ($799.91 million) loan it owed to the government as part of plans to fix its finances. The company, which runs the Jabal Omar complex of hotels and property within walking distance of the Grand Mosque in the Muslim holy city of Mecca, was hit hard when the coronavirus outbreak reduced pilgrimages.

  • Saudi government agencies to use income sharing as a contracting method 

    The Saudi Cabinet has allowed government agencies to apply income sharing with the private sector, as one of the contracting methods to secure goods and services. The Digital Government Authority, announced that income sharing would enhance the partnership between the private and public sectors, according to SPA.