PIF acquires 40% stake in Zamil Company to boost Saudi Arabia’s offshore support sector
The Public Investment Fund (PIF) has finalized its acquisition of a 40% stake in Zamil Offshore Services Company, a leading Saudi-based operator and service provider in the offshore support vessel and construction industry. This strategic investment is set to fortify Zamil Offshore’s capital base, enabling the company to expand its services and fleet in response […]
First AI-powered satellite imagery firm set up in Saudi Arabia
SpaceKnow, a New York-based technology company dedicated to transforming space data into actionable intelligence has announced the launch of SpaceGuardian, the first approved company dedicated to satellite imagery and AI (artificial intelligence) analysis in Saudi Arabia. SpaceGuardian specializes in applying machine learning AI on satellite imagery to facilitate economic activities, energy and commodities analysis, environmental […]
KAFD awards contract for latest hospitality project to SAUDICO & ALEC FITOUT
King Abdullah Financial District Development & Management Company (KAFD DMC) has awarded a contract for the complete fitout design and implementation for the district’s latest hospitality destination to the joint venture between SAUDICO and ALEC FITOUT. Marking the occasion with a signing ceremony at KAFD were Gautam Sashittal, Chief Executive Officer at KAFD DMC, and […]
SDAIA strikes MoU with FIWARE to localize technology
The Saudi Data and AI Authority (SDAIA) has signed a memorandum of understanding (MoU) with the FIWARE Foundation in order to localize the technology and adapt it to the local language, culture, regulations, infrastructure, and skills. According to the statement, “Further, it intends to support Arabic interfaces, compatible features, local cloud hosting, and training information-technology […]
Riyadh Air & Sabre partner to elevate its planning efficiency
Riyadh Air, the new national airline of Saudi Arabia that’s shaping the future of flying, has entered into a fundamental collaboration with Sabre Corporation, a leading software and technology provider powering the global travel industry. This strategic partnership underscores Riyadh Air’s commitment to enhancing operational efficiency and driving incremental revenue gains through Sabre’s end-to-end Network […]
NDMC ends February sukuk issuance raising SR7.874 billion
The National Debt Management Center (NDMC) has completed the February 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program, with the total funds raised amounting to SR7.874 billion. This issuance has been divided into three distinct tranches to support various maturity profiles. The first tranche of the issuance amounts to SR1.180 billion and […]
Saudi Commerce Ministry extends online services to help foreign firms set up regional headquarters in KSA
Saudi Arabia’s Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment. These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing […]
Crown Prince receives Dutch prime minister in Riyadh
Crown Prince and Prime Minister Mohammed bin Salman received Prime Minister of the Netherlands Mark Rutte at the Royal Court of Al-Yamamah Palace in Riyadh on Tuesday. During the meeting, the two leaders reviewed the friendly relations between the two countries. They also discussed the ways to further enhance bilateral cooperation in various fields. A […]
Saudi Arabia approves Law for Protection of Whistle-blowers and Witnesses
The Saudi Council of Ministers on Tuesday approved the Law for the Protection of Whistleblowers, Witnesses, Experts and Victims. The Weekly session of the Cabinet, chaired by Custodian of the Two Holy Mosques King Salman in Riyadh, also approved the regulation of the Saudi Tourism Authority. A few years ago, the Shoura Council approved the draft law […]
Front End showcases autonomous aerial vehicles at IPTC
Front End, a leader in the integration of advanced technology across sectors, is captivating audiences at the International Petroleum Technology Conference (IPTC) 2024, from February 12 to 14 in Dhahran, Saudi Arabia. The focal point of its participation will be its cutting-edge autonomous aerial vehicles (AAVs) by Ehang on display at booth 6140, that aim […]