Saudi: $177.06mln allocated by GADD through SAMI to develop local defense industry
The General Authority for Defense Development (GADD) and SAMI launched today two programs to support the localization of the defense development sector in the Kingdom of Saudi Arabia. The two programs, valued at SAR664 million, will run for 4 years and represent the first batch of GADD’s incentives programs for the sector. They include grants […]
PIF announces new investment company to boost Saudi car industry
A new investment company tasked with developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia has been announced by the Kingdom’s Public Investment Fund. Tasaru Mobility Investments will drive investments and partnerships with local and global private sector companies, according to a statement from PIF. It aims to support sector […]
Saudi Arabia’s electricity and gas supply sector sees 21.5% growth: GASTAT
Saudi Arabia’s electricity and gas supply sector grew by 21.5 percent in August compared to the same month last year, according to the General Authority of Statistics. The electricity and gas sector has consistently shown high annual expansion since the start of 2023. Factors contributing to this growth are the Kingdom’s investments in energy infrastructure, including […]
Saudi National Bank, Mastercard launch UEFA Champions League cards
Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the kingdom, offering cashback credit card and prepaid card without annual fees. Saud Bajbair head of Retail Business Group at SNB said: “SNB holds a prominent position […]
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 […]