Alghanim partners with Saudi Coffee Company to introduce Jazean brand
Alghanim Industries, one of the largest privately owned companies based in Kuwait, has forged a strategic partnership with the Saudi Coffee Company, which is owned by the Kingdom of Saudi Arabia’s Public Investment Fund (PIF). This collaboration highlights the Saudi Coffee Company’s specialty coffee brand, Jazean, and is aimed at promoting Saudi Arabia’s distinguished coffee […]
SFD signs deals to support Pakistan’s clean energy sector
Saudi Fund for Development (SDF) has signed two development agreements with Islamic Republic of Pakistan Ministry of Economic Affairs Secretary Dr. Kazim Niaz to finance the establishment of the Shounter Hydropower and the Jagran-IV Hydropower Projects with development soft loans amounting to $66 million and $35 million, respectively. The first agreement is intended to construct […]
World’s only ever Dragon Ball theme park in Saudi Arabia
The Saudi Arabia-based Qiddiya Investment Company has announced that it will be constructing the World’s only ever Dragon Ball theme park as part of its “Qiddiya” giga project. Nestled within Qiddiya City, the Dragon Ball theme park will boast a whopping size of over 500,000 square meters and feature seven different areas that recreate various […]
King, Crown Prince offer condolences to Russia president for the victims of terror attack near Moscow
Custodian of the Two Holy Mosques King Salman has sent a cable of condolences and sympathy to President Vladimir Putin of the Russian Federation for the victims of the terrorist attack that took place near Moscow. Custodian of the Two Holy Mosques strongly condemned this criminal act, and expressed deepest condolences and sincere sympathy to […]
Saudi Arabia’s Almarai to invest over SAR18bn under five-year plan
Almarai, the GCC region’s biggest dairy producer, said it would invest $4.8bn (SAR18bn) over the next five years to boost growth while focusing on areas including supply chain capabilities and food security. Almarai, in a regulatory filing, said that the investment plan focuses on several strategic enablers to support its implementation including supply chain capabilities, […]
Aramco CEO: “We should abandon the fantasy of phasing out oil and gas”
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out fossil fuels, Saudi Aramco CEO Amin Nasser said on Monday. The head of the world’s largest energy company urged a re-set of global energy transition plans in remarks […]
Saudi’s New Murabba ‘open for international investment’, says CEO
The New Murabba Development Company (New Murabba) showcased its ambitious plans for urban redevelopment and invited international investors to participate in the project at the global real estate trade show, MIPIM 2024, in Cannes, France. In February last year, Saudi Crown Prince and Prime Minister Mohammad bin Salman bin Abdulaziz launched the company to undertake […]
Morgan Stanley expects oil prices to climb to $90 per barrel by summer 2024
Morgan Stanley raised its Brent crude oil price forecasts by $10 per barrel to $90 for the third-quarter of 2024. The forecasts have been changed citing tighter supply and demand balances on OPEC+ commitment and Russia’s oil production curtailments after recent drone attacks on its refineries. Oil supply forecast Morgan Stanley lowered its supply forecast for […]
Saudi Arabia “plans” $40bn push into artificial intelligence
Saudi Arabia plans to create a fund of about $40bn to invest in artificial intelligence (AI), the New York Times reported on Tuesday. Representatives of Saudi Arabia’s Public Investment Fund (PIF) have discussed a potential partnership with US venture capital firm Andreessen Horowitz and other financiers in recent weeks. Andreessen Horowitz and PIF governor Yasir Al-Rumayyan have discussed the […]
Big demand for mining licences in Saudi Arabia, says report
There has been a notable increase in the demand for mining licences across Saudi Arabia following the implementation of a new investment law in 2021, reported SPA, citing the Ministry of Industry and Mineral Resources. It is mainly aimed at promoting investment in the sector, spurring development and boosting the KSA’s mineral production. According to the […]