Saudi airline flynas’ IPO oversubscribed by nearly 350%
Saudi low-cost carrier flynas finalized its initial public offering share allocation at SR80 ($21) per share, the top of its indicated range, following robust demand from institutional and retail investors. The pricing values the airline at an estimated market capitalization of SR13.6 billion at listing. The offering comes after flynas announced plans last month to […]
PIF-backed D360 bank eyes global investors for Series A round
Saudi Arabia’s Public Investment Fund-backed digital bank D360 is in early talks with potential global investors as it prepares for a Series A funding round planned for the second half of 2025. The Shariah-compliant lender, which began operations in December, is targeting the first quarter of 2026 to complete the raise, CEO Eze Szafir said […]
Mining, entertainment sectors eye 100bn in investments by 2030
Saudi Arabia is steadily progressing in its journey to attract $100 billion in foreign direct investments by the end of this decade, with the Kingdom heavily focusing on securing funds in high-growth sectors, experts have said. Saudi Arabia’s Vision 2030 economic diversification program aims to transform its economic landscape, including attracting foreign direct investment and […]
Saudi Arabia and Qatar to provide financial support for Syrian state employees
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Syrian Foreign Minister Asaad Hassan al-Shibani attend a press conference in Damascus, Syria May 31, 2025. (Reuters) Syria’s interim foreign minister Asaad Shaibani, right, receives Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan at Damascus International Airport on May 31, 2025. (SANA/AFP) Prince Faisal […]
UAE, China, India among top destinations for Saudi Arabia’s non-oil goods: GASTAT
The UAE emerged as the leading destination for Saudi Arabia’s non-oil exports during the first quarter of 2025, with shipments valued at SR21.32 billion ($5.68 billion), marking a 33.91 percent increase compared to the same period last year, according to the latest data from the General Authority for Statistics. Machinery and mechanical appliances were the […]
Eco-friendly and safer walkways expanded to 33% in Makkah Hajj sites
Muslims performing Hajj this year will be seeing better quality and safer walkways in Makkah, thanks to the increased use of a new road construction solution. Saudi authorities have announced the expansion of roads made of flexible rubber asphalt by 33 percent this year, with work on the road extending from Namirah Mosque to Al-Mashaer […]
Sky-high architecture shows Kingdom’s business ambitions
Skyscrapers are transforming Riyadh’s skyline, signaling a bold shift in the capital’s urban and economic ambitions. From finance to high-end living, vertical development is accelerating, drawing comparisons to global cities such as New York. Riyadh’s skyline is rapidly evolving, with high-rises, luxury towers, and smart skyscrapers rising from the King Abdullah Financial District to North […]
Riyadh positions itself as a global arbitration hub
Saudi Arabia is rapidly positioning Riyadh as a global hub for arbitration, leveraging comprehensive legal reforms, technological advancements, and strategic initiatives aligned with its Vision 2030 economic diversification agenda. The Kingdom’s concerted efforts to modernize its arbitration infrastructure have resulted in a notable increase in the enforcement of arbitral awards. Since the enactment of the […]
Uber overtakes Lucid as PIF’s largest US equity holding by value
Uber Technologies Inc. has emerged as the Saudi Public Investment Fund’s largest single holding by market value in its US portfolio, valued at $5.31 billion for an unchanged stake of 72.84 million shares. This change reflected a market-driven increase in Uber’s stock price. In contrast, Lucid Group Inc., in which PIF continues to hold 1.77 billion shares, saw its […]
Japan FM in Riyadh to bolster ties with Saudi Arabia
Japan’s Foreign Minister Takeshi Iwaya arrives in Riyadh on Wednesday to hold talks with Saudi Arabia officials on strengthening strategic cooperation. Iwaya’s visit comes as the two nations celebrate the 70th anniversary of diplomatic ties this year. In an exclusive opinion piece for Arab News published on Wednesday, Iwaya outlined his vision to help lead […]