Saudi Arabia’s Bank Aljazira will issue US-denominated capital certificates that could reach up to $500 million, the Saudi bank said in a bourse filing. The sale, conducted through a Cayman Islands-registered vehicle, will only be available to pre-selected investors in a private placement, and the certificates are redeemable after five...

Colliers white paper explains why IVF popular in MENA region despite high population growth IVF one of leading treatments undertaken by medical tourists in UAE In-vitro Fertilization (IVF) market in UAE, Saudi Arabia and Egypt is estimated to be worth $1 billion, according to a white paper on the IVF...

Estonian exports to Saudi Arabia totaled $80 million in 2020 Estonian delegation presented a workshop aimed at consolidating frameworks of the joint cooperation Saudi Arabia and Estonia recently discussed ways to enhance digital cooperation, exchange experiences in the field of the digital government, and support the growth of the digital...

Dar Al Arkan tied up with Danish 3D construction printer company Cobod The first 3D construction printed house would be ready by Q4 2021 in the Shams Ar Riyadh project Saudi Arabian real-estate developer Dar Al Arkan has introduced 3D construction printing technology, or 3DCP technology, in the country, said...

Annual growth in eCommerce market expected to grow by more than 6 percent Currently, only 15 to 20 percent of orders are collected at a physical location operated by courier companies Online buying has been growing in Saudi Arabia in recent years at such speed that it is now estimated...

  Indonesia invited Saudi Arabia to invest in Bank Sharia Indonesia, the nation's largest sharia compliant bank It could also build housing in Mecca for Indonesians traveling to the kingdom for pilgrimage   Saudi Arabia and Indonesia have agreed to form a task force in order to discuss investment opportunities...

The consignment of millions of amphetamine pills was hidden in a shipping container Saudi Arabia had banned imports of fruit and vegetables from Lebanon in April   Millions of amphetamine pills headed for Saudi Arabia in a shipping container were confiscated by Lebanon on Friday. The seizures were made at...

The merger will create cost savings of tens of millions of riyals GOSI and the PPA are major investors in Saudi Arabian companies The Saudi Public Pension Agency’s (PPA) merger with the General Organization for Social Insurance (GOSI) will create one of the Kingdom’s largest investment funds, estimated at billions...

Minimo VFX  CEO Felix Balbas said that his company would open a regional headquarters in Riyadh The studio will enter into a joint partnership with a local company Minimo VFX, the Spanish film studio, is going to make an investment of $250 million in Saudi Arabia through a joint venture...

Russia might get a toehold in the banking sector in Saudi Arabia A proposal in this regard is being looked at by both the countries There might soon be a Russian bank in Riyadh. A proposal in this regard was presented at a meeting between Saudi and Russian officials on...

World’s biggest oil exporter looks for foreign investments into a sector that has $1.3 trillion in untapped potential reserve value Saudi Arabia’s mining industry has already attracted some major foreign investors Saudi Arabia intends to auction two major mining licenses in 2022 for gold, copper, and zinc as the world’s...

The move is to ensure that all safety measures adopted by the government to keep the virus Only Saudi pilgrims can make the Hajj this year, like last year The Ministry of Hajj and Umrah has cautioned pilgrims not to travel to Mecca to perform the Hajj unless they have...

The company issued 30,000 sukuk with a par value of $200,000 each The sale, launched on June 9, was Aramco’s first dollar-denominated sukuk The Saudi oil giant, Aramco, has said that it completed disbursing international trust certificates for $6 billion of sukuk. The company issued 30,000 sukuk with a par...

The move is designed to minimize human contact to contain Covid-19 spread Each of the 20 robots deployed loaded with three shelves of water bottles Hoping to reduce the threat of outbreak of Covid-19 at Islam’s holiest site in Mecca during the Hajj in July, the Saudi government has deployed...

The 1500MW plant expected to cater to power needs of about 4 million households *ACWA Power also has a 1500MW high-efficiency gas-fired power project under construction in Sirdarya, Uzbekistan Riyadh: ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 countries, has...

About 150 Saudi investors and businessmen ready to invest in Egypt Saudi Arabia has opened an office of the Saudi-Egyptian Business for investment in Egypt Saudi Crown Prince Mohammed bin Salman has urged local businessmen to make investments in Egypt, Al Arabiya reported citing the Chairman of the Business Council...

Goldman raises Saudi growth forecast for GDP to 4.5% this year, compared to an earlier 2.5% Kingdom's overall economic activity accelerated notably in manufacturing, finance and construction US investment bank Goldman Sachs has significantly raised its expectations for Saudi Arabia's oil production and economic growth this year and in 2022...

RAW is not the first UAE-based coffee brand to announce expansion plans in the Kingdom this year Emirati Coffee in April told Arab News it plans to open its first Saudi branch in July   Tapping into a growing taste for coffee in Saudi Arabia, RAW Coffee, the United Arab...

  The rate of obesity in the kingdom totals 35.6 percent in 2020 The duo offer customized diet plan to obese in order to lose flab   To fight off the growing threat of obesity in Saudi Arabia, where, according to a study by the Sharik Association for Health Research...

    The Saudi-Chinese Business Council has showed the Chinese side Saudi Arabia’s plan to attract more Chinese investments into the country The council highlighted the Saudi “legislative reforms that are expected to increase investments between the two sides”   The Saudi-Chinese Business Council in Riyadh on Tuesday, June 15,...

Egypt and Saudi Arabia will soon launch the African country’s electrical interconnection project This will increase grid capacity to 2,000 megawatts   Egypt and Saudi Arabia will soon launch the African country’s electrical interconnection project, said local reports on Tuesday, June 15. This “major scheme” will increase grid capacity to...

Only up to 10,000 Muslims took part in last year's hajj, 70% of them foreigners   2.5 million participated in the pilgrimage in 2019  Saudi Arabia announced Saturday it will allow 60,000 residents vaccinated against Covid to perform this year's hajj, but Muslims from abroad will be barred for a second...

The main reason for the drop was the 11.7 percent contraction in the oil sector Private sector and non-oil sector report positive growth Saudi Arabia has reported a three percent drop in its Gross Domestic Product (GDP) in the first quarter of this fiscal as the oil sector reported sluggish...

There are 6,285 Saudi companies operating in Egypt with investments exceeding $30 billion  More than 518 Egyptian companies operate in the Saudi markets Saudi Arabia aims to be the first trading partner of Egypt for the next five years, local reports on Monday, June 14, quoted the former’s Minister of...

The growth in the sector is mainly attributed to the ongoing Covid-19 pandemic Ounass, a luxury online store, launched in 2016 by Al Tayer Group from the UAE has only added to the growth of the luxury market Hadeel Karnib Web-based shopping is enabling further growth of luxury fashion retail...

It will launch on June 17  and will be broadcast live from studios in Riyadh and New York

If the Real Estate General Authority pays heed to the Shoura Council, then non-resident foreigners may eventually get the right to own property in Saudi Arabia

Two digital banks are being set up, if all goes well with the regulatory agency

 Aramco's $12.4 billion oil pipeline deal could be template for hiring Company also plans to spend about $35 billion on capital expenditure this year Saudi oil giant Aramco has roped in Morgan Stanley as the lead adviser to review a potential multibillion-dollar stake sale in its natural gas pipeline network,...

The kingdom is almost twice the size of the region’s second-largest economy, Egypt The UAE is the third largest Arab economy with GDP of $354.3 billion The Saudi economy alone was 29.3 percent of the $2.39 trillion Arab economy in 2020. The Kingdom’s $700.1 billion in nominal GDP was almost...

  Zain KSA ranked first in the mobile 5G average download speed Company also a topper in the Fixed Internet Video Streaming quality indicator   Zain KSA, a leading telecom service provider in Saudi Arabia, has been ranked first for delivering the best 5G services during the first quarter of...

  Saudi Arabia dominates startup investment sector during May In all nearly $110 million was raised across 35 deals over the month Saudi Arabia has topped the startup investment market in the Middle East and North Africa (MENA) region during May, Arab News quoted from figures released by entrepreneurship platform...

  Tanmiah Food Company has won approval from CMA to sell 30 percent of company shares The food company employs 1500 people and is a major supplier of chicken products The Capital Market Authority (CMA) has given the go-ahead to Tanmiah Food Company for the listing of 30 percent of...

  The deal will see the implementation of quality performance evaluation services for GACA’s internal audit department The move will look to activate aspects of partnership and cooperation between the two parties Saudi Arabia’s General Authority of Civil Aviation and the Saudi Institute of Internal Auditors signed a cooperation agreement...

  The consortium is led by US-based energy investment firm EIG Aramco will retain the remaining 51% stake in the pipeline entity The 49% stake in Aramco Oil Pipelines Company, from which the Saudi Arabian Oil Company or Aramcolooks to make gains of $12.4 billion, has a new taker in...

The Public Investment Fund (PIF), led by Governor Yasir al-Rumayyan, is at the heart of Saudi Arabia's plans to transform the economy The fund is expected to inject $40 billion annually into the local economy, and increase its assets to $1 trillion by 2025   Saudi Arabia's Public Investment Fund...

The Saudi Food and Drug Authority took the decision due to the spread of bird flu there The regions are Landes, Pyrenees-Atlantiques, and Gers   Saudi Arabia has temporarily banned the import of poultry meat, table eggs, and their products from three regions in France due to the spread of...

Chalhoub Group is going to pack its top management positions with more women, and will also raise the number of Saudis working in the company

@Hack set to be one of the largest cyber security events in the world It will host offensive security hackers that train western security services Saudi Arabia will organize a mega cybersecurity event that will bring together the world’s best hackers and trainers in the Kingdom. The event called @Hack...

The kingdom ranks 13th globally out of 167 countries on 'Satisfaction with Efforts to Preserve the Environment' indicator

Withholding tax is deducted from the total income of a non-resident establishment in Saudi Arabia, in return for services it provides inside the Kingdom

They have a capacity of 23.8 liters of sterilizers with a consumption rate of 2 liters per hour to eliminate bacteria over 600 square meters

A patented system of solar and growth monitoring technologies allows use of salt water for cooling greenhouses, irrigating crops  

IFIN platform eliminates the need for customers to visit their bank branch to secure finance and provides retailers with an opportunity to boost their sales and increase customer loyalty   

The initiative, called the Wa’ed program, is aimed at training newly graduated Saudi engineers  It will offer them professional opportunities and help them build skills for the current market Saudi Arabia’s National Housing Company has announced that it has launched a training program for both male and female engineering graduates...

The macro-economic conditions in Saudi economy are improving Encouraged by spending in many sectors, the overall health of the economy is positive Spurred by spending in the local market such as retail, transport, health, and food and beverages sectors, the overall health of the Saudi economy has shown improvement in...

Oil rick kingdom had recently announced a privatization plan that includes identifying 160 projects  Saudi finance minister Al-Jadaan opened a high-level G20 conference with his Italian counterpart Daniele Franco Saudi Arabia will raise $55 billion from privatization including sale of assets and public-private partnerships, according to the kingdom’s finance minister...

The worldwide market for AI is expected to generate revenues to the tune of $554 billion by 2024

The offering could be as much as 30 percent of stake in the company Riyadh-based Berain is one of Saudi Arabia’s biggest bottled-water companies Berain Water of Saudi Arabia has roped in the services of the investment banking arm of Samba Financial Group to manage a potential Initial Public Offering...

The company also took part in 20 percent startup funding in the Middle East