Saudi’s PIF sets up Al Balad Development Company to transform Jeddah’s historic district
Saudi’s Public Investment Fund (PIF) has established Al Balad Development Company (BDC). The launch of BDC aligns with PIF’s strategy to diversify Saudi Arabia’s economy through developing and enabling strategic sectors, including real estate and tourism – in line with the goals of Vision 2030. The company will be the primary developer of Al Balad […]
China grants Saudi Arabia Approved Destination Status
China has officially granted Approved Destination Status (ADS) to Saudi Arabia thereby setting the stage for increased visits of citizens of the Asian country to the kingdom. Saudi Arabia aims to attract three million Chinese travellers by 2030. The ADS is expected to allow Chinese citizens to travel to Saudi Arabia in group tours as […]
Saudi Tourism Authority expands collaboration with Huawei Mobile Services
The Saudi Tourism Authority (STA) has expanded its strategic collaboration with Huawei Mobile Services (HMS) and Petal Ads, the advertising arm of HMS, in order to boost Chinese tourism to Saudi by creating a smarter and more immersive travel experience for tourists. The partnership aims to revolutionize the way tourists explore the country through increased […]
Saudi’s Wahaj picks IFS Cloud to accelerate digitalization
IFS, the global cloud enterprise software company, has announced that Saudi Advanced Technologies Company (Wahaj) has selected IFS Cloud ERP and defense manufacturing solutions. Wahaj is Saudi Arabia’s fastest-growing precision engineering & manufacturing company in the Aerospace and defense as well as Oil and Gas sectors and a fully owned affiliate of Sahara International Petrochemical […]
ADES Holding IPO’s retail tranche oversubscribed nearly 10 times
Saudi Arabia’s oil and gas driller ADES Holding Company’s retail subscription was oversubscribed 9.83 times, the company said in a statement on Wednesday. The order book reached nearly 4.5 billion riyals ($1.2 billion), with subscriber numbers at 1,307,676. Individual subscribers will receive a minimum of 10 shares each. The remaining shares will be allocated pro rata […]