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  • Will Lucid Motors’ Saudi Arabian Connection Help Win Them A Big Aston Martin Partnership?

    In its first year in production, EV manufacturer Lucid Motors won the coveted Motor Trend Car of the Year award with its Lucid Air sedan. Although their future appears bright regarding the design and sales of their own vehicles, they may also have a strong market with other automakers coveting their superior technology. One potential partnership that could be a mutual fit because of both companies’ connections to Saudi Arabia is a collaboration with luxury car legend Aston Martin.

  • Saudi Arabia Concludes its Participation at Farnborough International Airshow

    Complimenting this Saudi Pavilion participation, were several key strategic announcements made by Saudi Arabia, chief of which was the announcement on the defense sector localization rate, which soared from 2% in 2018 to 11.7% in 2021. A multitude of defense platforms and capabilities were localized over this period, all contributing to enhancing operational readiness and strategic autonomy, through strategic and sustainable partnership building. The overarching goal: localizing more than 50% of expenditure on defense equipment and services, by the year 2030.

  • Sommet Education starts training next generation of Saudi Arabia Tourism professionals

    The first group of Saudi students arrived at les Roches Global Hospitality Education on its campus in Marbella, Spain. This short program aims at equipping students with the fundamentals of Tourism Business and Operations from understanding housekeeping Operation to Customer Experience or Sales and negotiation skills.

  • Saudi Arabia’s Manga Productions to set up new headquarters in Mohammed Bin Salman Non-Profit City

    After releasing the first-ever Saudi-Japanese animated film last year, Manga Productions is set to move its headquarters to the Prince Mohammed Bin Salman Non-Profit City. The new city, which will open in 2024, will host Manga Productions as part of its new media sector. It will allow creative talent in the kingdom to live, learn, and grow through global collaborations and international creatives.

  • Saudi Arabia’s Almarai second-quarter profit jumps 8% on higher revenue

    Saudi Arabia's Almarai, the Middle East's largest dairy company, reported an 8 per cent increase in second-quarter net profit as revenue rose with the easing of Covid-19-related restrictions. Consolidated profit attributable to shareholders climbed to 520.4 million Saudi riyals ($138.77m) in the three-month period ended June 30, the company said in a filing to the Saudi stock exchange Tadawul on Sunday.

  • Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation

    Data obtained by Reuters through Refinitiv Eikon ship tracking showed Saudi Arabia imported 647,000 tonnes (48,000 barrels per day) of fuel oil from Russia via Russian and Estonian ports in April-June this year. That was up from 320,000 tonnes in the same period a year ago.

  • For Israel and new Arab partners, $3 billion in defense business just the beginning

    The $3 billion figure came from none other than Israeli Defense Minister Benny Gantz on Thursday, when he also said that since the signing of the Abraham Accords in 2020, there have been about 150 meetings of Israeli defense personnel with counterparts in Gulf states party to the accords. Israeli sources told Breaking Defense they expect that kind of business to blossom “dramatically,” as the Arab nations spend to upgrade their defenses against perceived threats from Iran and its proxies, especially when it comes to air defense.

  • Sentiance enters the Kingdom of Saudi Arabia market in partnership with iDRIVE

    Sentiance is pleased to announce the collaboration with iDRIVE as our first partnership in the Kingdom of Saudi Arabia. iDRIVE is the leading solution in the field of smart mobility and the first car sharing company in Saudi Arabia. Different from other car-sharing companies, iDRIVE owns their vehicles, they offer the newest models to meet people's different needs. Their vision is to offer affordable transportation for people in Saudi Arabia, moreover, car sharing is an aid in protecting the environment and saving money.

  • Digital banking start-up YAP raises $41 mln, to expand into Saudi Arabia

    YAP, a digital bank in the United Arab Emirates, said on Monday it had raised $41 million in funding and targeted raising another roughly $20 million to finance its expansion plans. The investors so far included Saudi Arabia's Aljazira Capital, Abu Dawood Group, Astra Group and Audacia Capital. YAP said it intends to complete it Series A by the end of the year.

  • Establishing a Startup in Saudi Arabia

    While some barriers exist to setting up a business or startup as a foreigner in Saudi Arabia, such as the need to obtain permits and visas, the government of the Kingdom has also made it increasingly easy for entrepreneurs to set up shop.