Saudi Arabia launches bid to host FIFA World Cup 2034
Saudi Arabia has announced its bid to host the 2034 World Cup after FIFA, the world soccer’s governing body, invited “member associations from the territories of the Asian Football Confederation (AFC) and the Oceania Football Confederation” to submit bids. The kingdom’s bid for FIFA World Cup 2034, which is led by the Saudi Arabian Football […]
Saudi’s flynas acquires five additional A320 neo aircraft
Saudi low-cost carrier flynas has received five A320 neo aircraft in the past month. Those deliveries take the count of the flynas all-Airbus fleet up to 56 aircraft, therefore recording a growth of more than 100 per cent in the last two years. The delivery of the five new A320 neo aircraft raises the number […]
Saudi’s PIF & SEC launch Electric Vehicle Infrastructure Company
The Public Investment Fund (PIF) of Saudi Arabia and the Saudi Electricity Company (SEC) have launched the Electric Vehicle Infrastructure Company. PIF will own a 75 percent stake in the Company, while SEC will hold the remaining 25 percent stake. The company is established to deliver best-in-class electric vehicle (EV) fast-charging infrastructure across Saudi Arabia, […]
Saudi’s PIF sets up Al Balad Development Company to transform Jeddah’s historic district
Saudi’s Public Investment Fund (PIF) has established Al Balad Development Company (BDC). The launch of BDC aligns with PIF’s strategy to diversify Saudi Arabia’s economy through developing and enabling strategic sectors, including real estate and tourism – in line with the goals of Vision 2030. The company will be the primary developer of Al Balad […]
China grants Saudi Arabia Approved Destination Status
China has officially granted Approved Destination Status (ADS) to Saudi Arabia thereby setting the stage for increased visits of citizens of the Asian country to the kingdom. Saudi Arabia aims to attract three million Chinese travellers by 2030. The ADS is expected to allow Chinese citizens to travel to Saudi Arabia in group tours as […]
Saudi Tourism Authority expands collaboration with Huawei Mobile Services
The Saudi Tourism Authority (STA) has expanded its strategic collaboration with Huawei Mobile Services (HMS) and Petal Ads, the advertising arm of HMS, in order to boost Chinese tourism to Saudi by creating a smarter and more immersive travel experience for tourists. The partnership aims to revolutionize the way tourists explore the country through increased […]
Saudi’s Wahaj picks IFS Cloud to accelerate digitalization
IFS, the global cloud enterprise software company, has announced that Saudi Advanced Technologies Company (Wahaj) has selected IFS Cloud ERP and defense manufacturing solutions. Wahaj is Saudi Arabia’s fastest-growing precision engineering & manufacturing company in the Aerospace and defense as well as Oil and Gas sectors and a fully owned affiliate of Sahara International Petrochemical […]
ADES Holding IPO’s retail tranche oversubscribed nearly 10 times
Saudi Arabia’s oil and gas driller ADES Holding Company’s retail subscription was oversubscribed 9.83 times, the company said in a statement on Wednesday. The order book reached nearly 4.5 billion riyals ($1.2 billion), with subscriber numbers at 1,307,676. Individual subscribers will receive a minimum of 10 shares each. The remaining shares will be allocated pro rata […]
NEOM’s Sindalah welcomes MB92 for yacht repair facility
Saudi Arabia’s $500 billion futuristic city, NEOM and the leading superyacht maintenance company, MB92 Group, have harnessed a partnership to establish a 10,000 square-meter repair facility for yachts at NEOM’s luxury island and yachting destination on the Saudi water of the Red Sea, Sindalah. The partnership aligns with the imminent opening of Sindalah during 2024 […]
Lucid opens Saudi Arabia’s first car production facility
Electric carmaker Lucid Group has inaugurated the first-ever car production facility in Saudi Arabia’s port city of Jeddah. The facility, which is the automaker’s second Advanced Manufacturing Plant (AMP-2) and first international plant, will produce electric vehicles (EV) for Saudi Arabia and export to other markets. The AMP-2 facility, located in King Abdullah Economic City (KAEC), will […]