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Featured in Banking and Investments
Alstom opens its regional headquarters in Saudi capital Riyadh

The new Alstom headquarters in Riyadh builds on a 70-year legacy, furthering railway innovation and development in Saudi Arabia. The Riyadh office will also host the Services Digital Centre, aimed at advancing Alstom’s capabilities in condition-based and predictive maintenance.​ 15 July 2024 – Alstom, the global leader in green and smart mobility solutions, today proudly inaugurates its opening of their regional headquarters in Riyadh. This significant step underscores Alstom’s commitment to advancing sustainable mobility and its long-standing role in shaping the region’s railway development. Strategically located in the capital of Saudi Arabia, the new headquarters is designed to enhance Alstom’s operations throughout the Gulf and beyond. This includes fostering growth and development, ......read more

Saeed Saleh Al Ghamdi appointed as new Board Member at GII Holding LLC

 Gulf Islamic Investments (GII), a leading Shari'ah-compliant asset management group, has increased its business activities in Saudi Arabia significantly in 2024, including the granting of a CMA licence, a new cooperative logistics agreement with Logipoint, the acquisition of Emad Bakeries in Jeddah, and expanding healthcare assets through Al Meswak dental clinics and the Abeer Medical Company across The Kingdom Saeed Al Ghamdi, CEO of Al Nahdi Family Office, takes the number of Saudi nationals on GII Holding LLC's Board to three, alongside Fawaz Al Tamimi (Chair of GII Saudi Arabia) and Mohammed Alhassan Riyadh: Gulf Islamic Investments group (GII) has welcomed Mr Saeed Saleh Al Ghamdi to the Board of GII Holding LLC, strengthening its representation of Saudi nationals on its Board of Directors, as GII's ......read more

Greenpeace MENA: KSA' announcement of Major Oil and Natural Gas is deeply concerning!

In response to Saudi Arabia announcement of Major Oil and Natural Gas discoveries in The Eastern Province and Empty Quarter, Shady Khalil, Campaign Lead from Greenpeace MENA, Said: This announcement is deeply concerning and indicates that Saudi Arabia has not yet embraced the imperative that the fossil fuel era is ending. COP28 in Dubai has sent a strong signal on the need to transition away from fossil fuels by 2050, with a decline this decade marking the end of the fossil fuel era. Saudi Arabia needs to demonstrate a genuine commitment to the historical consensus reached at COP28 in Dubai. We urge Saudi Arabia to prioritize the well-being of billions around the world, including its own citizens and the millions who travel to Hajj. The impacts of extreme weather events are significant and growing. This year alone, more than 1,300 ......read more

Egis Secures Saudi Arabia's Top Environmental License for Sustainable Development

Egis, a global leader in the architecture, consulting, construction engineering and mobility sectors, has been granted the respected Environmental License Class A from Saudi Arabia's National Center for Environmental Compliance (NCEC). This coveted designation signifies a company's commitment to adhering to the strictest environmental regulations, contributing to the Kingdom's ambitious sustainability goals. The Environmental License Class A plays a critical role in safeguarding public health and ecological protection. By securing this license, Egis demonstrates their proactive approach to supporting national environmental initiatives, enhancing environmental excellence within the region, and aligning perfectly with the global imperative to address climate change. For Egis, this Class A registration expands their range ......read more

#W7Worldwide Looks to Break New Barriers in 2024 After a Record Year of Excellence

Jeddah: W7Worldwide, the Kingdom's leading home-grown marketing communication consultancy agency and a leader in the GCC region, has unveiled its Annual Report 2023, showcasing a year marked by remarkable achievements and recognitions as well as breaking barriers in the corporate PR and marketing communication industry. "As we stand at the threshold of another transformative year, our unwavering commitment to bridge people and create a lasting impact remains steadfast, deeply embedded in the core of our ethos," said Abdullah Inayat, Director and Co-founder of W7Worldwide. "Driven by our collective spirit, we are poised to push our limits, foster innovation, and be industry trailblazers, as we soar to new heights in uncharted territory." The report highlights W7Worldwide's diverse portfolio and ......read more

Intersec Saudi Arabia gears up for its biggest edition to date by welcoming over 17,000 visitors

The sixth edition of Intersec Saudi Arabia will take place from 1-3 October at the Riyadh International Convention and Exhibition Center (RICEC) Building on the success of previous years, the exhibition space will be 34% larger this year, with 17,000 visitors expected to attend The exhibition's conference programme will feature the Future Security and Safety Summit and the Fire Protection and Technology Summit  Riyadh, Saudi Arabia: Intersec Saudi Arabia, Saudi’s leading trade fair for safety, security, and fire protection, will return for a sixth edition from 1 - 3 October at the Riyadh International Convention and Exhibition Center (RICEC).  Organised by 1st Arabia and licensed by Messe Frankfurt, the exhibition is held in association with the Ministry of Interior and Saudi Civil Defense. Intersec ......read more

For the first time in the Kingdom: Bupa Arabia launches insurance benefits upgrade product for its members

Jeddah: Bupa Arabia for Cooperative Insurance has launched an innovative service, the first of its kind in Saudi Arabia, allowing employees covered under the company's client insurance policies to easily upgrade their maternity coverage and select hospital room types through the Bupa Arabia mobile app. The service aims to enable employees to manage their insurance coverage to better suit their needs and preferences, including room type, within one minute via the Bupa Arabia app, without the need to contact the insurance company or visit any of its branches. This provides customers with convenience and the necessary healthcare during critical moments in their lives. The new benefit upgrade product from Bupa Arabia responds to the needs of a specific segment of customers who desire more flexibility and control over their ......read more

Hayy Jameel to Become the New Home of Alliance Française

Saudi Arabia  Alliance Française to Open at Hayy Jameel in Jeddah From left to right: Larry Lamartiniere (Alliance Française Managing Director), Mohammed Nehad (Consul General of France in Jeddah), Zaher Al Munajeed (President of Alliance Française), HE Ludovic Pouille (Ambassador of France), Hussein Jameel (Director of Community Jameel), Faisal Al Sammanoudi (Chairman of Abdul Latif Jameel Enterprises), Rowaid Al Sawaf (CEO of Abdul Latif Jameel Enterprises), Marguerite Bickel (CEO of Alliance Française d'Arabie saoudite), Antonia Carver (Director of Art Jameel) Jeddah; Declaration of intent to establish Hayy Jameel in Jeddah as the new home of Alliance Française Saudi Arabia (AFAS) made in the presence of HE Ambassador of France M. Ludovic Pouille, the Consul General of France in Jeddah, M. Mohammed Nehad, the ......read more

Bupa Arabia wins two prestigious awards at the Insuretech 2024 "Golden Shield of Excellence" ceremony

Bupa Arabia wins the "Best Health Insurance Company" and "Best Insurance Brand" awards at the Insuretech 2024 "Golden Shield of Excellence" ceremony Riyadh: Bupa Arabia for Cooperative Insurance was crowned for its outstanding achievements by winning two awards: "Best Health Insurance Company of 2024" and "Best Insurance Brand" at the 10th edition of the "Golden Shield of Excellence" awards ceremony, which was recently held on the sidelines of the Insurtech Middle East 2024 conference at the Mövenpick Hotel in Riyadh. This recognition comes in appreciation of Bupa Arabia's leadership in the health insurance sector in the Kingdom of Saudi Arabia and its commitment to providing excellent healthcare services that meet the diverse needs of its clients. This ......read more

Saudi Exchange welcomes Rasan Information Technology Company to the Main Market

Riyadh, 13 June 2024: The Saudi Exchange today congratulates Rasan Information Technology Company (Rasan), the leading InsurTech services provider in the Kingdom of Saudi Arabia, as it lists on the Main Market. Established in 2016, Rasan is a company specializing in the InsurTech services in the Gulf region. The Group's portfolio includes InsurTech companies like Tameeni, offering insurance aggregation services, among others such as Treza for policy management, Awal Mazad for car auctions, and R Solutions for business intelligence and predictive modeling. Mr. Nasser Alajaji, Chief of Listing at Saudi Exchange, said: "The listing of Rasan is testament to the growth of the InsurTech sector in Saudi Arabia in recent years and demonstrates the commitment of the Saudi Exchange to welcome innovative companies from a diverse ......read more

Jadwa Investment launches new app to enhance client experience

Riyadh, KSA, 5 June 2024 — Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced the launch of its new mobile application, ‘the Jadwa Investment app’, as part of the firm’s continuous efforts to enhance its client service and experience. Following Jadwa’s new corporate website and web portal, the app is the firm’s latest milestone in offering its clients a seamless digital experience. Using the new app, clients can access a comprehensive suite of features, allowing them to manage their digital investments effortlessly through their mobile phones.  Commenting on the launch, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “We are pleased to announce the launch of the Jadwa Investment app. Client service is at the heart of ......read more

AJEX Logistics Services Inks New Deal with Africa Union Holdings Group Expanding Reach Across Africa

The new partnership agreement, signed between Africa Union Trading, Africa Union Aviation, and AJEX will enhance logistics and supply chain services between Africa and the Middle East Riyadh, Saudi Arabia, 4 June 2024 - AJEX Logistics Services, a leading Middle East-based specialist in express distribution and shipping solutions, is proud to announce the signing of a new partnership agreement with Africa Union Trading and Africa Union Aviation, subsidiaries of Africa Union Holdings. The agreement, inked at the Saudi Trade Attaché's office in Sandton, Johannesburg, marks a significant step towards enhancing logistics and supply chain services between Africa and the Middle East.  The new agreement will support the strategic expansion objectives of both companies – with Africa Union Holdings growing its footprint across ......read more

Partnership Agreement Signed between Kanoo Machinery UAE & KSA and Combilift to Revolutionize Material Handling in Saudi Arabia

28th May 2024, Riyadh, Kingdom of Saudi Arabia:  In a strategic development, Kanoo Machinery UAE and KSA, a member of Yusuf Bin Ahmed Kanoo Group (YBA Kanoo), one of the largest independent family-owned multinationals in Saudi Arabia and the Middle East, announced the signing of a partnership agreement with Combilift, the largest global manufacturer of multidirectional, sideloading, and articulated forklifts, to provide sustainable forklifting solutions in the region.  The signing ceremony took place at the Irish Embassy in Riyadh and was supported by Enterprise Ireland, the Irish government's enterprise development agency dedicated to nurturing the growth of Irish-owned companies. This partnership between Kanoo Machinery UAE and KSA, a member of YBA Kanoo, and Combilift exemplifies a shared dedication to innovation ......read more

Construction Commences on Premium Diriyah Square Office Space, as ‘The City of Earth' Project Accelerates Development

Five sustainably designed office buildings will include modern facilities. Exteriors will match the traditional Najdi architectural style of the surrounding area. Offices to complement recently announced Diriyah Square high-end shopping precinct for 400 retail outlets. Underscores Diriyah Company’s commitment to create a dynamic business hub as part of its development masterplan. DIRIYAH - May 27, 2024: The Diriyah Company has commenced the construction of a premium office development in Diriyah Square, further enhancing its diverse infrastructure offerings for the business community. The five low-rise office buildings, designed with sustainability in mind, will offer nearly 39,000 square meters of gross leasable area (GLA), and a total gross floor area (GFA) of almost 47,000 square meters, with approximately 1,000 ......read more

Brands For Less Announces the Opening of its 34th Branch in Saudi Arabia, Al Medina

The leading off-price retailer reaches new heights with growing presence in the Middle East, covering 7 cities across the Kingdom Al Medina, KSA, 27 May – Brands For Less, a leading retail conglomerate, is proud to announce the opening of its 34th branch in Saudi Arabia, expanding across seven cities throughout the Kingdom. This new store is strategically located in Al Manar Mall, Al Medina, 11 minutes away from the Al Medina Haram. This expansion signifies the group's continued commitment to providing exceptional retail experiences across the Kingdom. The new branch marks a significant milestone in BFL Group’s growth strategy, reinforcing its presence in the Saudi market. The Group's extensive network is designed to cater to the diverse needs of its customers, offering a wide range of high-quality products at ......read more

Soudah Development announces birth of three Ibex in Soudah Peaks

[May 26, 2024], Riyadh, Saudi Arabia: Soudah Development, a Public Investment Fund company, has proudly announced the birth of three Ibex in the Red Rock zone inside King Abdullah National Park in Soudah – following the release of 23 Ibex into the wild last year in collaboration with the National Center for Wildlife. This highlights a key milestone in their collaborative reintroduction and conservation efforts, in line with the Saudi Green Initiative as well as environmental sustainability goals of Vision 2030. Among the mothers, two are adult females who were originally transferred by the National Center for Wildlife, and the third mother is a young Ibex, approximately two years old, who was born within the enclosure in May 2022. She was later released into King Abdullah National Park in February 2023. These efforts have ......read more

Egis Recognised as a 2024 Top Employer in Saudi Arabia

Egis, a leading international group in architecture, consulting, construction engineering, and mobility services, is proud to announce its certification as a 2024 Top Employer in Saudi Arabia. This recognition by the Top Employers Institute underlines Egis' dedication to fostering a superior work environment through leading human resources (HR) practices. The Top Employer Institute's certification process assesses organizations based on their participation and results in the HR Best Practices Survey. This assessment covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more. Robert Hope, Middle East Regional Managing Director at Egis in Saudi Arabia, said: "As we navigate the complexities of a rapidly evolving ......read more

Farmer's Market with Azka Foods returns to Hayy Jameel in Jeddah

Jeddah: Art Jameel, an organization that supports artists and creative communities, hosts another edition of its highly anticipated Farmer's Market at Hayy Jameel with Azka Foods. The two-day family-friendly market takes place at Jeddah home for the arts on Friday May 24 and Saturday May 25, bringing together more than 20 vendors from across all 13 regions within Saudi Arabia to celebrate local, organic and seasonal produce. Showcasing local produce, culinary delights, heritage, and a rich public programme including talks, workshops and film screenings, the Farmer's Market is free and open to all ages with the aim of connecting, understanding and appreciating the abundance and diversity of the lands     . This edition of the Farmer's Market is the fourth collaboration with Azka Foods, an online Ethical ......read more

New Murabba's Mukaab Signs Landmark Piling Contract With Hssg Foundation Contracting Llc

Riyadh, Saudi Arabia – 23 May 2024 – In a significant milestone that propels the ambitious Mukaab forward, the New Murabba Development Company – A PIF Company -  is pleased to announce the signing of the Mukaab Piling Works Contract with HSSG Foundation Contracting LLC, known for providing technically advanced foundation solutions. This marks a pivotal step in the development of the Mukaab, which is set to become the centerpiece of the New Murabba, Riyadh’s transformative downtown destination. Once completed, the Mukaab will be one of the largest built structures in the world (measuring 400 meters in height, width, and length). The contract was formalized by Michael Dyke, Chief Executive Officer of New Murabba Development Company, and Ali Korhan from HSSG Foundation Contracting, bringing together two ......read more

Saudi Arabia's Non-Oil Sector Remains Resilient as Riyadh Emerges as a Destination for International Corporations

- The sector remained the key driver of the economy and surged by a robust 4.4% in 2024, despite a revised overall GDP last year, which showed a decline of 0.8%. - Continued strength in non-oil activities is expected to propel GDP growth to a projected 2.1% in 2024. - Grade A offices witnessed an increase in rents by 5% in the last quarter, owing to the buoyant demand for quality assets. - Technology, Media & Telecommunications (TMT) and Banking, Financial Services and Insurance (BFSI) companies dominated occupier inquiries, comprising 27% of the total inquiries received by Savills.   The latest Saudi commercial market report by Savills revealed that despite global economic challenges and a GDP that was revised downward by 0.8% last year, Riyadh’s office market has maintained its robust performance in the ......read more

Fortinet Reports First Quarter 2024 Financial Results

First Quarter 2024 Highlights Total revenue of $1.35 billion, up 7% year over year Service revenue of $944 million, up 24% year over year GAAP operating margin of 23.7% Non-GAAP operating margin of 28.5% Cash flow from operations of $830 million Free cash flow of $609 million Riyadh: Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the first quarter ended March 31, 2024. Financial Highlights for the First Quarter of 2024 Total revenue was $1.35 billion for the first quarter of 2024, an increase of 7.2% compared to $1.26 billion for the same quarter of 2023. Product revenue was $408.9 million for the first quarter of 2024, a decrease of 18.3% compared to $500.7 million for the same quarter of 2023. Service ......read more

Al Masaood Bergum Showcases Innovative Modular Solutions at Saudi Giga Projects 2024 & MENA Construction Summit 2024

Al Masaood Bergum's modular solutions to expand to Saudi market Abu Dhabi, May 13, 2024 – Al Masaood Bergum, part of Al Masaood Group, and a leading tailor-engineered modular building systems provider, successfully participated as an attending partner at the Saudi Giga Projects 2024 and MENA Construction Summit 2024 at the Hilton Hotel & Residences in Riyadh on 13-14 May 2024. The first day of the event was dedicated to Saudi Giga Projects 2024, giving participants an overview and future perspective of Saudi Arabia's giga project initiatives and the opportunities it presents for contracts and suppliers. The second day focused on the MENA Construction Summit 2024, fostering in-depth conversations about the execution of construction projects, while also emphasizing enhanced sustainability and efficiency ......read more

Saudi Moving and Logistics Companies Showcase Significant Presence on the Global Stage

Al Mani: "Participating in this significant international event allows us to enhance our robust partnerships and extend our reach globally. This enables us to deliver our services to and from any conceivable destination worldwide.” Jeddah, Saudi Arabia, May 12, 2024: In a new step to strengthen its presence on the international stage, Four Winds Saudi Arabia Limited, Four Winds Saudi Arabia Limited, a Saudi leader in comprehensive and integrated moving and logistics services since 1979, today announced its participation as a Principal Sponsor at the 2024 FIDI Conference, which will be held in Edinburgh, Scotland, from May 12 to May 15, 2024. Nizar Al Mani, CEO of Four Winds Saudi Arabia Limited, said: "Our principal sponsorship of the FIDI Conference 2024 signifies a strategic move to enhance our international ......read more

SRMG launches the second edition of the Saudi Young Lions Competition

Championing the development of Saudi Arabia’s creative talent on a global stage SRMG is back with the second edition of the Saudi Young Lions design competition, highlighting its role as the official Saudi representative at the Cannes Lions International Festival of Creativity Registration is now open to graphic designers, illustrators and creatives aged 30 or under currently working in Saudi Arabia The winning team will compete in the Global Young Lions competition at Cannes Lions 8 May 2024 | Riyadh: SRMG, the largest integrated media group from the MENA region, today launched the second edition of the Saudi Young Lions design competition. The competition provides young and up-and-coming creators from Saudi Arabia a platform to showcase their creativity and ingenuity. It also represents a key aspect of SRMG’s ......read more

AlUla recognised with Sustainability Stand Award at Arabian Travel Market 2024

AlUla recognised with prestigious Sustainability Award for stand concept of ‘AlUla’s Net Zero: Empowering Innovation, Transforming Travel’ Presence at Arabian Travel Market (ATM) highlights AlUla’s drive for sustainable tourism, including conservation projects, eco-friendly accommodation, and community-based tourism initiatives - underpinned by AlUla Sustainability Charter and amplified by destination’s first global brand campaign, ‘Forever Revitalising AlUla, Saudi Arabia – 08 May 2024: The ancient city of AlUla in northwest Saudi Arabia has been honoured with the prestigious Sustainability Stand Award at the Arabian Travel Market (ATM) in Dubai, United Arab Emirates, out of 2,844 other competing stand designs at the event.  This accolade highlights AlUla’s steadfast ......read more

Americana Restaurants announces Q1 2024 Financial Performance, reports $493.5 million in Revenue

Revenue of $493.5 million in Q1 24, resulting in Adjusted EBITDA margin of 20.9% Continued restaurant portfolio growth with the opening of 37 new stores in Q1 2024 and 37 new restaurants under construction Persistent focus on optimizing costs and driving revenue opportunities Abu Dhabi and Riyadh, 07 May 2024: Americana Restaurants International PLC (“Americana Restaurants” or the “Company”) (ADX symbol: AMR/ ISIN: AEE01135A222) (Saudi Stock Exchange symbol: 6015), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”) and Kazakhstan, today announced its financial results for the three-month period ended 31 March 2024, generating revenues of $493.5 million and adjusted EBITDA of $103.3 million. Business Performance Impacted by ......read more

Economic transformation through automotive innovation showcased at Automechanika Riyadh

Local manufacturing and collaborative efforts are set to transform the Saudi Arabian automotive landscape, according to the Ministry of Industry and Mineral Resources Saudi automotive market has a 42% share in the MENA region and a sales forecast of 920,000 vehicles by 2035 The event continues on Thursday, 2 May 2024, at the Riyadh International Convention and Exhibition Centre Riyadh, KSA: Driving towards a sustainable future, the Saudi Arabian automotive industry is rapidly evolving under the ambitious Vision 2030 framework. This is according to Eng. Aftab Ahmed, Chief Advisor -Automotive Cluster, National Industrial Development Centre (NIDC), Ministry of Industry and Mineral Resources, who was speaking at the 6th edition of Automechanica Riyadh, which continued today at the Riyadh International Convention and Exhibition ......read more

First SaudiFood Manufacturing, Kingdom's largest F&B manufacturing event to-date, gets underway

Show opened by Eng. Majed Al-Argoubi, CEO of MODON Keynote addresses touch on the role of F&B manufacturing in achieving Saudi Vision 2030, and Inaugural SaudiFood Manufacturing Awards winners announced RIYADH – May 1, 2024: Eng. Majed Al-Argoubi, CEO of the Saudi Authority for Industrial Cities and Technology Zones (MODON) has opened the busy inaugural SaudiFood Manufacturing show, which runs from April 30 – May 2 at Riyadh Front. Eng. Al-Argoubi inaugurated the exhibition and toured its aisles, visiting the stands of many national and international companies, as well as countries. Over 500 global players from 35 countries are participating in the exhibition, from across the processing, packaging and ingredients sectors. Opening the Food Forward Summit, Eng. Al-Argoubi stressed the importance of the event ......read more

Localized data centers are key to business empowerment in KSA

Riyadh:  Saudi Arabia is at the crossroads of digital transformation. Its ambitious Vision 2030 seeks to propel the nation into a new era of economic diversification, social progress, and technological advancement. The Saudi government has embraced digital transformation as an integral and pragmatic strategy in line with this vision. This transformation aims to enable and accelerate government efficiency and effectiveness, and propel Saudi businesses into the global market by leveraging technology. Digital transformation is also increasing the demand for cloud-based solutions in Saudi Arabia. Public cloud spending in Saudi Arabia was expected to exceed $950 million by end of 2022, with a projected 24% compound annual growth rate (CAGR) by 2025. Organizations are recognising the cost-efficiency, security, agility, and ......read more

Geopolitical stability, inclusive growth, energy security under spotlight in Riyadh at World Economic Forum Special Meeting

Riyadh-Saudi Arabia. 29 April 2024 – Riyadh convened global leaders today at the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development to host candid dialogues and outline bold steps to tackle the most pressing geopolitical, social and economic challenges facing humanity. Speaking at the Special Meeting, His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy for Saudi Arabia said a just and equitable energy transition will only be achieved by using a range of energy sources to diversify the global energy market. Access to secure and reliable energy, he said, is crucial to enabling people and communities from emerging nations achieve meaningful economic development. In a session on 'North to South, East to West: Rebuilding Trust', His Highness ......read more

Boehringer Ingelheim reports strong growth in 2023 and accelerates late-stage pipeline

In 2023, Boehringer Ingelheim in India, Middle East, Turkey and Africa (IMETA) region achieved net sales of EUR 779 million, reflecting a 13% increase compared to the previous year. Globally, Human Pharma sales increased by 10.3%* to reach EUR 20.8 bn, whereas Animal Health sales increased by 6.9 %* to EUR 4.7 bn, both fueled by new product launches. R&D expenditures increased by 14.2% to EUR 5.8 bn globally. Riyadh, Kingdom of Saudi Arabia – April 28, 2024: Boehringer Ingelheim, one of the world’s leading biopharmaceutical companies, recently announced a strong acceleration of its pipeline in 2023. Net sales in India, Middle East, Turkey and Africa (IMETA) reached EUR 779 million in 2023, reflecting a 13% increase from the previous year’s EUR 689 million. Moreover, these robust results align with ......read more

Automechanika Riyadh to be held under the patronage of the Saudi Arabian Ministry of Investment

The keynote speech is to be delivered by Eng. Saleh Al Khabti, Deputy Minister of Investment Transaction, Ministry of Investment A host of prominent speakers will represent several key bodies and government departments during Automechanika Riyadh, including the Saudi Standards Metrology and Quality Organization (SASO) and GCC Standardization Organization (GSO), amongst others The event returns from 30 April to 2 May 2024 at the Riyadh International Convention and Exhibition Center Riyadh, KSA: Automechanika Riyadh will officially be held under the Patronage of the Saudi Arabian Ministry of Investment, with the opening keynote speech to be delivered by Eng. Saleh Al Khabti, Deputy Minister of Investment Transaction, Ministry of Investment and Patron of the event. Several high-profile speakers will join him as part of the ......read more

Investcorp Launches a USD 1 billion Platform, To Be Anchored by China Investment Corporation, to Invest in the GCC and China

Riyadh, 24 April 2024 – Investcorp, a leading global alternative investment firm, and China Investment Corporation (“CIC”), one of the world’s largest sovereign wealth funds, have today announced the launch of “Investcorp Golden Horizon” to invest in high-growth companies across Saudi Arabia, the rest of the countries of the Gulf Cooperation Council (the “GCC”) and China (the “Platform”). The Platform has a target size of USD 1 billion and will be anchored by reputable institutional and private investors from the GCC, as well as CIC. Target companies are expected to have high growth potential in attractive sectors, including consumer, healthcare, logistics and business services. The Investcorp Saudi Pre-IPO Growth Fund, which is part of the Platform, has already announced ......read more

Diriyah Company Announces Zallal, Diriyah's First Mixed-Use Commercial Office And Retail Offering

Zallal set to open in 2025 within Bujairi District Includes two low-rise office buildings and 12 Retail and F&B outlets Over 14,000 square meters of leasable space and set to accommodate approximately 500 employees. Leasing space still available for commercial and retail operators at Zallal APRIL 22, 2024, RIYADH – Diriyah Company today has announced details of Zallal, its first major mixed-use commercial office and retail project that is set to open in the first half of 2025 in the Bujairi District. Construction is now well underway and when completed will include two low-rise office buildings with a combined leasable area of approximately 6000 square meters and 12 mixed retail and F&B outlets over an area of approximately 8000 square meters. The project has already received very positive reactions from ......read more

Inaugural SaudiFood Manufacturing show to put spotlight on Kingdom's F&B manufacturing industry

Held under the patronage of H.E. bander Ibrahim Al Khorayef, Minister of Industry and Mineral Resources Over 400 leading global brands exhibiting across processing, packaging & ingredients Food Forward Summit brings stellar line up of world experts to Kingdom for the first time RIYADH – 21 April, 2024: The inaugural edition of SaudiFood Manufacturing, the first dedicated F&B manufacturing event in the Kingdom spanning processing, packaging and ingredients; will be the launchpad for the industry to take its place at the heart of Saudi Arabia’s economic transformation. Following the highly successful launch of The SaudiFood Show, the largest food event in the Kingdom, organisers KAOUN International and dmg events, today unveiled highlights of the much-anticipated SaudiFood Manufacturing event, taking place ......read more

Saudi Investment Recycling Company and SAP extend partnership with new deployment and an MoU exploring collaboration on sustainability solutions

SIRC and two subsidiaries implement SAP S/4HANA, Ariba, SuccessFactors and Analytics Cloud Photo caption: Sultan Saud Alsaif, Executive Director of Technology & Innovation, SIRC, and Dr Fahd Nawwab, Vice President, SAP Saudi Arabia, attended a ceremony to celebrate the successful deployment of several technology solutions and to sign an MoU extending the relationship between their companies. Riyadh, KSA – 16 April 2024 – The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), has announced the successful deployment of solutions from global technology company SAP that will modernize business processes including procurement infrastructure and employee management. The two parties are also deepening their existing relationship, signing a memorandum ......read more

Saudi Exchange Marks a Milestone with its 400th Listed Security

The Saudi Exchange has hit a milestone of 400 listed securities In 2023, IPOs on the Saudi Exchange accounted for over 70% of GCC IPOs, with a robust pipeline supporting the Exchange’s accelerated growth to become one of the top 10 largest exchanges globally according to the World Federation of Exchanges Riyadh, Saudi Arabia [31 March 2024]: The Saudi Exchange has welcomed its 400th listing across all securities. This achievement highlights the Exchange’s pivotal role in the Kingdom’s economy, underpinned by robust international investor interest and a diverse range of securities within a highly dynamic market landscape. Since its establishment 16 years ago, the Saudi Exchange has quickly grown to become one of the top ten largest in the world, the third largest amongst emerging market peers, and ......read more

Green Corp acquires Emad Bakeries increasing investment in Saudi food processing

GreenCorp, powered by a $150 million fund controlled by ultimate owner Gulf Islamic Investments group (GII), extended its food production and processing portfolio by acquiring Emad Bakeries, a leading industrial bakery in Jeddah, Saudi Arabia. This acquisition bolsters the assets managed by GreenCorp, advancing its vision of a unified GCC platform spanning the entire food value chain. Jeddah: ­­­­­­GreenCorp has acquired Emad Bakeries, a prominent Jeddah-based producer of Arabic bread and pastries, in a strategic move that strengthens GreenCorp's food-focused investment platform within the GCC. Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. This additional investment empowers Emad Bakeries' plans ......read more

Green Corp acquires Jeddah-based Emad Bakeries to boost its investments in Saudi food processing capabilities and strengthen regional food security

GreenCorp, powered by a $150 million fund controlled by ultimate owner Gulf Islamic Investments group (GII), extended its food production and processing portfolio by acquiring Emad Bakeries, a leading industrial bakery in Jeddah, Saudi Arabia. This acquisition bolsters the assets managed by GreenCorp, advancing its vision of a unified GCC platform spanning the entire food value chain. 28 March 2024: Dubai, United Arab Emirates: GreenCorp has acquired Emad Bakeries, a prominent Jeddah-based producer of Arabic bread and pastries, in a strategic move that strengthens GreenCorp’s food-focused investment platform within the GCC. Emad Bakeries operates the largest industrial fresh flatbread bakery in western Saudi Arabia, with state-of-the-art manufacturing facilities. This additional investment empowers Emad ......read more

From LA to Riyadh: Outer Edge Web3 Innovation Summit debuts in Saudi Arabia in partnership with Animoca Brands and KACST

Outer Edge, Animoca Brands and King Abdulaziz City for Science and Technology (KACST) present Summit on 23 April to highlight advances in Web3 and gaming ecosystem development in Saudi Arabia  21 March 2024, Riyadh – Outer Edge, one of the pioneer events in the world of Web3, tech, culture, and entertainment, today announced a partnership with Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, and King Abdulaziz City for Science and Technology (KACST), the national labs of the Kingdom, to debut Outer Edge Riyadh on 23 April. The dynamic event is set to bring together some of the biggest names in the blockchain, AI, and gaming ecosystems from all over the world to Riyadh, Saudi Arabia. Outer Edge, historically based in LA and now expanding to the Middle East, is known for ......read more

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Automechanika Riyadh 2024 records a 448% increase in exhibitor numbers…

The 2024 edition of the show will be the largest to date, as the Saudi automotive aftermarket is anticipated to top US$9.4 billion by 2027 Following unprecedented demand, the exhibition is now sold out, with more than 280 exhibitors confirmed More than 25% of exhibition show space will be dominated by first-time and returning Saudi exhibitors   Riyadh, KSA: Automechanika ......read more

Banque Saudi Fransi and AstroLabs announce 2nd cohort of the “Banker Technologist” to empower Saudi ...…

Following the success and impact of its first cohort, Banque Saudi Fransi (BSF) has announced the start of the second cohort of its “Banker Technologist” to nurture the growth of new tech talent pipelines in Saudi Arabia. The program is held in partnership with AstroLabs, the Gulf’s leading expansion platform. The initiative comes as part of the BSF's efforts to develop its ......read more

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market…

• The company's expansion is a result of thorough research on customer expectations, cultural nuances, fashion trends, and local payment methods. • The Saudi Arabia shapewear and stocking market is projected to reach a market size of more than USD 7 million by 2028   UAE, March 12, 2024: Metro Brazil, the leading retail and eCommerce company for Brazilian shapewear in ......read more

New Murabba leads Saudi Urban Development Investment Drive at MIPIM 2024 France…

Cannes, France – March 11, 2023 – New Murabba Development Company, a leading urban development destination in Saudi Arabia, is showcasing its transformative vision at the 2024 MIPIM, a prestigious real estate event gathering industry leaders from across the globe taking place on 12-15 March at the Palais des Festivals, Cannes, France. Under the “Invest Saudi” umbrella, New ......read more

Gulf Islamic Investments acquires a licensed investment and asset management firm in the Kingdom of ...…

GII’s fully-fledged investment licence in the Kingdom, under the name Gulf International Investment Company, creates new opportunities to expand its business in the country through investments in leading local companies, and fostering exciting new investment and asset management partnerships from its Riyadh office. ​ Riyadh: The planned expansion of Gulf Islamic Investments ......read more

UiPath Announces Investments in Saudi Arabia, Including First Saudi School of Automation and New ...…

CEO Rob Enslin delivers a keynote address at LEAP 2024 UiPath Business Automation Platform to showcase leading AI and automation innovations in Hall 2A at booth H2.T28 NEW YORK and Riyadh, Saudi Arabia, March 4, 2024 – UiPath (NYSE: PATH), a leading enterprise automation and AI software company, today announced at LEAP 2024 its commitment to supporting digital transformation and ......read more

ROYAL COMMISSION FOR ALULA HOSTS INAUGURAL SUPPLY CHAIN FORUM TO BOOST PARTNERSHIP NETWORK, EXPLORE ...…

RCU engaged with representatives from sectors including construction, urban regeneration, economic development, and more to discuss capacity building and growing supply chain efficiency Leading contractors explored opportunities for future development projects, to share interest in bidding for upcoming tenders, and to engage with RCU as a partner of choice     AlUla, ......read more

Introducing the first global campaign for AlUla – Forever Revitalising…

● Launching on 29 February 2024, Forever Revitalising encapsulates the essence of AlUla  ● More than a traditional destination marketing campaign, the creative communicates the purpose-driven investment in AlUla  ● The data-driven, digital-first activity debuts across nine source markets in six languages 4pm KSA, February 2024, AlUla, Saudi Arabia - The ancient ......read more

Saudi Arabia – Ejari's Sharia-Compliant Rental Platform Empowers Saudi Market.…

Ejari has proudly announced the receipt of Sharia-compliant certification for its Rent Now, Pay Later platform in Saudi Arabia. This platform caters to the rental community, offering a rent-now-pay-later service to Saudi Arabia $20bn+ rental market where more than 70% of rentals are paid on an annual or bi-annual basis, offering tenants the convenience of flexible payment options. Since launching ......read more

LEAP 2024 Spotlight to Illuminate ‘Women in Tech'…

Major uptick in female participation in Saudi Arabia’s tech mega event as dedicated program features high-level content, investment, mentorship & networking opportunities Women comprise almost a third of powerful speaker line up at LEAP 2024 Riyadh, Kingdom of Saudi Arabia – 22 February 2024: LEAP 2024, the world’s most attended technology event, will spotlight ......read more

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