Zamil Industrial Investment appoints new CEO
Zamil Industrial Investment Company, a premier business group engaged in the development of innovative solutions for use in the construction industry, has appointed Ahmed Zaatari as its Chief Executive Officer (CEO) effective March 26. Following this, the company’s Board of Directors have taken a decision on March 25 to end the assignment of Mohammad Sulaiman […]
Lucid to receive $1bn from PIF affiliate via new stock
Electric carmaker Lucid announced an additional $1 billion investment from Saudi Arabia’s Public Investment Fund in a move which saw its shares rise 18 percent. The money is coming via the company’s majority stockholder, Ayar Third Investment Co., an affiliate of the Kingdom’s sovereign wealth body. It will reach California-based Lucid through a newly created series […]
Council of Economic and Development Affairs reviews local, global issues
Local and global advances and public agencies’ performance were in focus during a virtual meeting held by Saudi Arabia’s Council of Economic and Development Affairs. Operating under the council of ministers, CEDA aims at establishing the overall governance, the mechanisms and measures necessary to achieve Saudi Vision 2030. The body addresses issues spanning all domestic […]
Saudi Arabia’s non-oil exports up 0.8%, latest official figures show
Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed. According to the report released by the Kingdom’s General Authority for Statistics, the total value of the sector, including re-exports, reached SR24 billion ($6.40 billion). Moreover, the ratio of non-oil trade rose to 35.8 percent in January, […]
Saudi Ministry of Investment, tech firm Endava sign MoU to propel digitalization efforts
Saudi Arabia’s digital advancement will soon accelerate thanks to a new agreement signed by the Kingdom’s Ministry of Investment with global tech company Endava. The memorandum of understanding with the London-based firm, which is publicly listed on the New York Stock Exchange, will see both entities collaborate to offer Saudi organizations a swift path to impactful digital transformation, according to […]
Saudi Arabia selected to chair WTO Dispute Settlement Body
Saudi Arabia’s permanent representative to the World Trade Organization was selected to chair the entity’s Dispute Settlement Body for the year 2024-2025. According to a release, Saqer Al-Moqbel was appointed unanimously by the WTO’s General Council during its meeting on March 22. The DSB is responsible for addressing issues referred by WTO members regarding their […]