Saudi city of future enlists Dutch help to grow crops in desert
Saudi Arabia is teaming up with a Dutch greenhouse company to create ‘a synthetic climate’ to make the desert bloom. It’s carving out an area the size of some 15 soccer fields to form a horticulture oasis on the outskirts of Neom, an entirely new city being built on the Red Sea coast that extends […]
Saudi wealth fund takes $15.6bn hit from SoftBank and tech
Saudi Arabia’s sovereign wealth fund reported a $15.6bn comprehensive loss for 2022 after the value of its investments in SoftBank Vision Fund plunged and other tech ventures were hit by a market downturn. The Public Investment Fund, or PIF, made an income of $25.4bn the year before, according to an annual financial report published Sunday. […]
Interval Plus CrossFit expands its Saudi presence with new branch
Interval Plus CrossFit has expanded its fitness community with the opening of its new branches in Khobar, Saudi Arabia. The newest facilities mark a significant milestone in Interval Plus’s journey to empower athletes and promote a healthier and stronger community across the Kingdom of Saudi Arabia. Interval Plus CrossFit aims to extend its reach and […]
Saudi & Turkish companies sign deals to localize drone industry
Under the patronage of Minister of Defense, Prince Khalid bin Salman bin Abdulaziz, several Saudi companies specialized in military and defense industries, and Turkish defense companies have signed an agreement and two memorandums of understanding (MoUs) in order to localize the drone industry and its component systems within the Kingdom. The agreement and MoUs are […]
Saudi Arabia & Uruguay discuss ways to support bilateral cooperation
Saudi Arabia’s Minister of Investment Eng. Khalid Al-Falih met a number of ministers in Uruguay during his visit to the country. This visit comes within Eng. Al-Falih’s visit to Latin America to improve the investment relations, and review the existing strategic partnership between Saudi Arabia and the countries of Latin America. This is in addition […]
SFD inks $77mn loan deal for construction of solar energy plant in Belize
The Saudi Fund for Development (SFD) has signed a new development loan agreement worth $77 million in order to fund the “Construction of the Solar Energy Plant Project” in Belize, through SFD. This agreement is part of SFD’s efforts to support sustainable development in developing countries and Small Island Developing States (SIDS). The loan will […]
1st phase of Diriyah’s masterplan receives Leed for Cities Certification
Saudi-based Diriyah Gate Development Authority (DGDA) has been awarded Platinum Level Leed for Cities Certification by the US Green Building Council (USGBC) for the first phase of its masterplan.This is the first time a project in the Middle East received this accreditation in Leed for Cities and Communities. Platinum certification is the highest level within […]
Saudi Aramco awards oil field drilling contracts to US-based SLB
Saudi Arabia’s energy giant, Aramco has awarded a contract to the US-based global oilfield services company SLB, to provide directional drilling services for some of the world’s largest oil and gas fields in the kingdom. On both land and offshore, SLB will deliver directional drilling and digital drilling solutions and logging-while-drilling services, said the company […]
Saudi Fund inks $75mn loan agreement with Saint Lucia
Saudi Fund for Development (SFD) has signed its first development loan agreement worth $75 million with Saint Lucia in order to fund the “Reconstruction and Rehabilitation of St. Jude Hospital Project”.This agreement is part of SFD’s efforts to support sustainable development in developing countries and Small Island Developing States (SIDS). Furthermore, the signing marks SFD’s […]
Saudi Arabia & Monaco sign MoUs to develop coastal tourism in Red Sea
The Saudi Red Sea Authority (SRSA) has signed two Memorandums of Understanding (MoUs), with Prince Albert II of Monaco Foundation and Monaco Yacht Club, aiming to develop coastal tourism in the Red Sea.The signing of the agreements aligns with SRSA’s mandate to regulate the navigational activities of cruise ships and yachts, as well as to […]