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  • Israeli solar firm enters rare venture with Saudi business

    Herzliya-based S&P 500 company SolarEdge is forming a joint venture with Riyadh-based Ajlan & Bros Holding to develop renewable energy, the two companies said Monday. It is a business partnership seldom seen between Israel and Saudi Arabia, two countries that don’t officially recognize each other. A statement from the two companies said that the joint venture is being formed to support smart renewable energy in Saudi Arabia in line with the kingdom’s Vision 2030 initiative, which aims to wean the country off economic dependence on oil by diversifying revenue streams.

  • Top 100 Arab Family Businesses 2023

    ost of the top family-owned businesses in the Middle East either started off as dealers, agents, or distributors for international companies, with the most successful enterprises evolving by adding more services and sectors to their portfolios. However, recently more family businesses seem to be looking to access the region’s stock exchanges for growth. In our 2023 list of the Top 100 Arab Family Businesses, over 60% are major shareholders in a company listed on a regional stock exchange. Most of these listed companies’ family businesses were among the founding shareholders. These listings not only bring in capital but allow family members to unlock value, as well as improve transparency and governance.

  • The Middle East is now ‘laser-focused’ on business and development, says Salman Al-Ansari

    Salman Al-Ansari, founder and president of the Saudi American Public Relation Affairs Committee, says "we need this ideology, we need more pragmatism."

  • Saudi Arabia, UAE Business Conditions Improve Even as Costs Rise

    Accelerating demand helped the Arab world’s largest economies secure new business orders and maintain employment levels. A purchasing managers’ index for Saudi Arabia rose to 59.6 from 58.5 in May, according to Riyad Bank. A similar S&P Global survey for neighboring UAE climbed to 56.9 from 55.5.

  • Saudi Arabia makes final preparations for 10th Arab-China Business Conference

    Saudi Foreign Affairs Minister Prince Faisal bin Farhan will open the 10th Arab-China Business Conference in Riyadh on Sunday, June 11. The theme for the two -day event, held under the patronage of Crown Prince Mohammed bin Salman, is “Collaborating For Prosperity,” and its aim is to support and promote strategic collaboration in the fields of economics, commerce and investment that benefits Arab nations and China.

  • Saudi Arabia’s non-oil business activity eases in May on slower output-PMI

    Non-oil business activity in Saudi Arabia slowed in May, a monthly survey showed, as the pace of growth for both output and new orders eased. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index slipped to 58.5 in May from 59.6 in April but remained firmly over the 50 mark separating growth from contraction, and higher than the long-run average. The sub-index for New Orders dropped to 67.3 in May from 69.1 the previous month but remained well above the survey's long-run trend, and was attributed to an improvement in market conditions, increased construction work, travel and tourism, and new investment.

  • UK business minister to visit Qatar, Saudi Arabia and UAE

    Britain's business and trade minister Kemi Badenoch will visit Qatar, Saudi Arabia and the United Arab Emirates this week as part of her efforts to reach a trade deal with the six countries in the Gulf Cooperation Council (GCC). Trade talks between Britain and the GCC - whose members also include Bahrain, Kuwait and Oman - started last year and there have been three rounds so far.

  • Saudi Arabia’s multibillion-dollar Port of Neom opens for business

    "We expect that seamless connection to one of the world’s busiest trading routes – and the other advanced and clean industries based at Oxagon – will combine to offer an attractive proposition to prospective innovators and manufacturers," he said. Neom has invested more than 7.5 billion Saudi riyals ($2 billion) for development of the sustainable port. “The Port of Neom will be pivotal to the continued commercial competitiveness, economic diversification and maritime trade ambitions of the kingdom,” said Nadhmi Al Nasr, Neom's chief executive.

  • Saudi Arabia’s multibillion-dollar Port of Neom opens for business

    "We expect that seamless connection to one of the world’s busiest trading routes – and the other advanced and clean industries based at Oxagon – will combine to offer an attractive proposition to prospective innovators and manufacturers," he said. Neom has invested more than 7.5 billion Saudi riyals ($2 billion) for development of the sustainable port. “The Port of Neom will be pivotal to the continued commercial competitiveness, economic diversification and maritime trade ambitions of the kingdom,” said Nadhmi Al Nasr, Neom's chief executive.

  • Saudi Arabia’s Aramco names presidents for upstream and downstream businesses

    Saudi Arabian oil giant (2222.SE) Aramco on Thursday named Nasir al-Naimi and Mohammed Al Qahtani as presidents of its upstream and downstream businesses, respectively, in a move designed to support the company's growth plans. The newly created positions and appointments, which have been approved by the board, will be effective from July 1, the state oil company said. "We expect this decision to help drive operational and financial performance, supporting our upstream capacity growth and our downstream expansion," Aramco President and Chief Executive Officer Amin Nasser said in a statement.