Saudi Tourism Authority marks largest global partnership with Trip.com Group
Saudi Tourism Authority (STA) and Trip.com Group have marked a significant global partnership, which will drive greater inbound tourists to Saudi Arabia as part of its Vision 2030 program. The joint effort aims to bring over 350 thousand additional tourists to Saudi. STA has established a global partnership with Trip.com Group, encompassing all brands under its […]
Saudi Arabia bolsters renewable energy partnership with Kazakhstan
The Kingdom of Saudi Arabia (KSA) and the Government of Kazakhstan, have signed an executive program for cooperation in the Kazakh capital Astana, under the umbrella of the memorandum of understanding concluded between the two countries in 2023. This program includes cooperation in a number of energy sectors such as oil, gas and their derivatives, […]
Saudi Aramco, UAE’s ADNOC in talks to invest in US LNG projects: Reports
Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) are in talks to invest in US liquefied natural gas (LNG) projects, as they step up competition with oil majors and regional rival Qatar in the booming super-chilled gas market, sources aware of the matter said. Future demand drives LNG interest The two energy giants are […]
PIF’s Ceer awards $1.3bn contract for EV factory in Saudi Arabia
Ceer , an electric vehicle firm backed by Saudi Arabia’s Public Investment Fund (PIF) has awarded a $1.3bn (SAR5bn) contract for the construction of a manufacturing site in King Abdullah Economic City. The electric carmaker awarded the contract to Saudi Arabia’s Modern Building Leaders (MBL) to build a production facility, spanning more than one million […]
Arcapita closes $500m logistics fund in Saudi Arabia
Arcapita Capital Company, a subsidiary of Arcapita Group Holdings Limited, announced on Wednesday the closing of KSA Logistics Fund III for SAR1.8 billion ($500 million), with participation from a leading sovereign wealth fund from the GCC region and other major institutional investors. Arcapita has already deployed a substantial amount of the fund in a sizable […]
Saudi Cable Company to exit Turkish investments
In a major move, Saudi Cable Company has announced plans to exit its investments in Turkey following a review of its performance in the country as these companies did not achieve the desired returns during the past few years. The board’s decision comes within the framework of reviewing the company’s plans and business strategy and […]
Ericsson & Mobily sign network exposure MoU for Saudi enterprises
Ericsson and Etihad Etisalat (Mobily) have signed a Memorandum of Understanding (MoU) to expose Mobily’s network capabilities to enterprises and developers in Saudi Arabia. Under the MoU, signed at LEAP 2024, Riyadh, Kingdom of Saudi Arabia, Mobily will be able to easily activate new capabilities and expose them through Application Programmable Interfaces (APIs), boosting the […]
Saudi’s NDF & SDB to establish gaming-industry focused venture funds
The Saudi National Development Fund (NDF), in collaboration with the Social Development Bank (SDB), has signed two agreements to establish two venture funds with a total size of $120 million, in an innovative move to bolster the gaming and Esports industry within the Kingdom of Saudi Arabia. The announcement was made during the LEAP 2024 […]
Tech investments approach $13bn on Day 2 at LEAP 2024
LEAP 2024, among one of the world’s most attended technology exhibitions, continued its momentum by announcing a new wave of investments exceeding $888m on its second day, further bolstering Saudi Arabia’s burgeoning tech ecosystem. This announcement comes hot on the heels of Monday’s staggering revelation of $11.9bn in investments. The Riyadh Exhibition and Convention Centre […]
Saudi Arabia’s PIF, Bahrain Mumtalakat to boost cooperation, investment
The sovereign wealth funds of Saudi Arabia and Bahrain have signed an MoU to boost cooperation and investment in strategic sectors. The agreement aims to expand cooperation between the two parties and enable new and promising investment opportunities in Bahrain, the Public Investment Fund (PIF) and Mumtalakat said in a joint statement. PIF said the […]