Saudi Arabia’s PIF to acquire 54% stake in MBC Group
Saudi Arabia’s sovereign wealth fund is set to acquire a 54 percent stake in media giant MBC Group for SR7.46 billion ($1.99 billion). In a bourse filing, MBC Group, listed […]
Saudi Arabia climbs 15 places to 12th in global tourist spending: UN Tourism
Saudi Arabia has made a remarkable leap, climbing 15 places to rank 12th in global tourist spending for 2023, according to the latest UN Tourism report. This is the largest […]
Aramco, Taulia, SIDF join forces for key supply chain financing solution
Aramco, a global leader in integrated energy and chemicals companies based in Saudi Arabia, and Taulia, a SAP company and leading FinTech provider of working capital management solutions – supported […]
Saudi Arabia will maintain crude capacity as it develops renewables, energy minister tells FII8
Saudi Arabia is committed to keeping its crude oil capacity at 12.3 million barrels per day, despite a shift to renewable power, according to the Kingdom’s energy minister. During a […]
Saudi Arabia exceeds HQ target with 540 international firms in Riyadh, says Al-Falih
Saudi Arabia attracted 540 international companies to establish their regional headquarters in Riyadh, ahead of a 2030 target of 500, according to Khalid Al-Falih, the Kingdom’s minister of investment. Speaking […]
Aramco CEO calls for ‘Transition Plan 2.0’ with focus on Asia, Global South
Saudi Aramco has called for a new energy transition strategy that addresses the needs of Asia and the Global South, amid concerns over the current plan’s uneven progress. Speaking at […]
Saudi Arabia and Spain discuss opportunities in drone and automotive industries
Saudi Arabia is exploring partnerships with Spanish companies in drone technology, automotive components, and geological surveying, as the Kingdom’s industry minister held talks with business leaders in Madrid. During the […]
Saudi restaurant and cafe sales boost August POS spending to $15.6bn
Saudi Arabia’s point-of-sale spending reached around SR58.51 billion ($15.6 billion) in August, marking a 9.67 percent rise compared to the same month last year, according to the latest data. Figures […]
Saudi hotel spending rises 2.4% amid broader POS decline: SAMA
Saudi hotel spending rose 2.4 percent in the week of Oct. 6—12 to SR270.7 million ($72.1 million), the only sector to grow amid an overall decline in point-of-sale transactions, official […]
Crown Prince to lead Saudi delegation at EU-GCC Summit in Brussels on Wednesday
Strength of the Saudi and Egyptian fraternal relations highlighted in cable of thanks Saudi Crown Prince and Prime Minister Mohammed bin Salman will lead the Saudi delegation attending the Summit […]
