Saudi startup investment shifts focus to AI, enterprise software, and SMEs
Saudi Arabia’s startup ecosystem is gaining momentum, propelled by government-backed initiatives and an influx of investor interest. While the fintech sector remains a primary focus, emerging opportunities in artificial intelligence, […]
Saudi Arabia’s industrial production holds steady in September: GASTAT
Saudi Arabia’s industrial production held steady in September, showing a slight year-on-year decrease of 0.3 percent due to a modest decline in manufacturing output, official data showed. According to data […]
Biban 24 concludes with $9bn in deals, boosting Saudi Arabia’s SME sector
Agreements exceeding SR35.4 billion ($9.42 billion) were signed at Biban 24 in Riyadh, an event organized by the General Authority for Small and Medium Enterprises, also known as Monsha’at The […]
Qiddiya launches executive office to strengthen engagement with business partners
Qiddiya Investment Co., fully backed by Saudi Arabia’s Public Investment Fund, has launched an executive office dedicated to overseeing destination marketing and management. The new office, called “Spirit of Play,” […]
Up to 77% of Swedish firms in Saudi plan to boost investment over the next year, official says
Up to 77 percent of Swedish companies operating in Saudi Arabia plan to increase their investment over the next year, according to a top official from the European country. In […]
Saudi Aramco reports $27.52bn net profit in Q3
Energy giant Saudi Aramco reported a net profit of SR103.37 billion ($27.52 billion) in the third quarter of this year, exceeding analyst expectations, which projected a median net income of […]
Red Sea Global likely to spend another $27bn by 2030: Report
Red Sea Global, the developer of regenerative tourism hubs, The Red Sea and Amaala, is likely to spend another $27 billion over the next six years to push ahead with […]
Saudi Arabia working on $798m road infrastructure projects
Saudi Arabia’s Roads General Authority (RGA) said the road sector in Riyadh region is witnessing a significant transformation with work under way on SAR3 billion ($798 million) projects. The region’s […]
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 […]
