Fitch Affirms Credit Rating of Saudi Arabia at ‘A+' with Stable Outlook

Riyadh, July 11, 2026, SPA -- Fitch Ratings affirms Saudi Arabia's credit rating at 'A+' with stable outlook according to its latest report. The agency highlighted that the affirmation reflects the kingdom's strong fiscal balance sheets and significant fiscal buffers, with government debt and sovereign net foreign assets (SNFA) considerably stronger than the median for both the 'A' and 'AA' rating categories. Fitch highlighted that, despite the geopolitical situation, the Saudi economy -especially non-oil activities, andpublic finances have been resilient. The agency expects real GDP growth to slow to 0.6% in 2026 and rebound in 2027 as the normalization of flow through the strait of Hormuz allows higher oil and petrochemicals production, before easing to 2.9% in 2028.

...read full article

Investment Ministry to Participate in LEAP East 2026 to Showcase Tech Investment Opportunities

Hong Kong, July 08, 2026, SPA -- The Ministry of Investment, represented by Invest Saudi, will participate in LEAP East 2026, which will take place in Hong Kong from July 8 to 10, as part of its efforts to strengthen the Kingdom's presence on the global investment stage. The participation aims to showcase Saudi Arabia's investment environment in the information and communications technology (ICT) and entrepreneurship sectors, while enhancing engagement with global investors and technology companies. The Invest Saudi pavilion will feature representatives from Saudi Arabia's investment ecosystem to provide information and services to investors and showcase the Kingdom's investment enablers, including its regulatory framework, advanced digital infrastructure, and incentives and services that facilitate the investor ......read full article

Saudi Fund for Development and Sri Lanka Inaugurate Faculty of Medicine at Sabaragamuwa University

Sabaragamuwa Province, Sri Lanka – 4 July 2026:The Saudi Fund for Development (SFD) joined the Government of the Democratic Socialist Republic of Sri Lanka in inaugurating the Faculty of Medicine at Sabaragamuwa University, marking another milestone in the longstanding development partnership between the Kingdom of Saudi Arabia and Sri Lanka. The inauguration ceremony was attended by Her Excellency Prime Minister and Minister of Higher Education of Sri Lanka, Dr. Harini Amarasuriya; Eng. Faisal Al-Kahtani, Deputy Chief Executive Officer of the Saudi Fund for Development; senior government officials from Sri Lanka; and representatives of the Saudi Fund for Development. Her Excellency Prime Minister and Minister of Higher Education, Dr. Harini Amarasuriya, said: "We value the longstanding partnership between Sri Lanka and ......read full article

Almarai Revenue Rises 11% to SAR5.87 Billion in Q2

  Riyadh, July 05, 2026, SPA -- Almarai Company announced that its revenue for Q2 2026 rose by 11% year-on-year to SAR5.87 billion, bringing total revenue for the first half of the year to SAR12.03 billion, up 9% compared with the first half of 2025. Profitability remained stable, with net profit reaching SAR635.7 million in Q2, supported by revenue growth and portfolio expansion, reflecting the strength of Almarai’s business model and its ability to effectively manage external cost pressures. Ongoing cost-control initiatives to enhance operational efficiency and service levels, combined with improvements in the sales mix, supported the financial performance. CEO of Almarai Company Fawaz Al Jasser said that Q2 2026 results reflect continued growth at Almarai, supported by demand for core products, particularly poultry ......read full article

World Bank: Saudi Arabia Presents Global Model for Responsible AI Innovation in Digital Learning

Riyadh, July 02, 2026, SPA -- The World Bank has documented Saudi Arabia's experience in utilizing AI in learning, affirming that the AI Sandbox for Digital Learning (AISB) initiative represents a pioneering national model for countries seeking to advance responsible innovation and improve the quality of digital learning. This came in a study published by the World Bank titled: "AI Sandbox for Digital Learning in Saudi Arabia: Driving Socio-Economic Impact through AI Innovation in Digital Learning." The study reviewed the Saudi experience as an integrated model that combines practical experimentation, capacity building, governance, and the orchestration of an innovation ecosystem within a single national platform led by the National eLearning Centre (NeLC). The study highlighted that the initiative actively ......read full article

Aseer Expands Summer Tourism Investment with 44 Seasonal Sites

Abha, June 30, 2026, SPA -- Aseer Region Municipality is expanding investment opportunities in the tourism sector by offering 44 seasonal investment sites during the summer season as part of its efforts to empower investors, enrich visitors' experiences, and increase the contribution of tourism and entertainment activities to the local economy amid the region's growing tourism momentum. Aseer Region Mayor Eng. Abdullah Al-Jali said the municipality is implementing a comprehensive plan to support the summer tourism season through two main tracks. The first focuses on continuing infrastructure projects and urban landscape improvements, including roads, sidewalks, parks, lighting, and municipal services, while the second centers on developing investment opportunities and organizing events and activities that enhance the appeal of ......read full article

Industry Minister Discusses Mining Investment Opportunities with Kazakh Companies

Astana, June 13, 2026, SPA -- Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana yesterday with leaders of several Kazakh mining and metals companies, in the presence of Vice Minister for Mining Affairs Eng. Khalid Almudaifer. Discussions focused on opportunities for cooperation in the mining sector, particularly in strategic minerals and rare earth elements. The talks also covered mineral exploration, geological surveying, and sustainable mining. Participants included representatives of Tau-Ken Samruk National Mining Company, KAZ Minerals, and Kazatomprom. The meetings are part of the Kingdom’s efforts to strengthen international partnerships and attract high-quality investments in the mining and minerals sector, in line with the goals of Saudi Vision 2030.

...read full article

20th IsDB Global Forum on Islamic Finance to Convene in Azerbaijan

Jeddah, June 11, 2026, SPA -- The Islamic Development Bank Institute (IsDBI) will host the 20th IsDB Global Forum on Islamic Finance in Baku, Azerbaijan, on June 17, 2026, under the theme “Achieving Sustainable Prosperity through Islamic Finance,” in conjunction with the IsDB Group Annual Meetings. Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions. The forum will examine how Islamic finance can help address structural development challenges, including ......read full article

SAB Invest the First Market Maker for ETFs on the Saudi Exchange

A landmark achievement that establishes SAB Invest as the first ETF Market Maker in the Saudi Exchange, reinforcing its leadership in this field Enhanced liquidity in SAB Invest Saudi Quant ETF (Ticker: 9402), with tighter bid-ask spreads and improved pricing efficiency, enabling a smoother and more effective trading experience for investors Riyadh, Kingdom of Saudi Arabia, 18 May 2026 – SAB Invest, the investment arm of Saudi Awwal Bank (SAB), today announced its official registration by the Saudi Exchange (Tadawul) as the first ETF market maker in the Kingdom. This landmark achievement marks a new era for Saudi Arabia's capital market, supporting Vision 2030's Financial Sector Development Program and delivering tangible benefits to investors through improved ETF trading efficiency. As the first entity to be ......read full article

ICD Signs 21 Agreements with Azerbaijan to Support Private Sector

Jeddah, May 8, 2026, SPA -- The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, signed on Thursday 21 agreements with Azerbaijan involving several financial institutions and commercial banks, as part of its cooperation with the private sector. The agreements were concluded on the sidelines of the private sector forum held in Baku. The corporation stated that Europe, Central Asia, and Azerbaijan represent the largest share of its financing portfolio, with a significant portion of operations focused on trade finance. It emphasized that its activities are centered on achieving measurable results, with objectives defined prior to project implementation, continuous monitoring of impact throughout execution, and final evaluation upon completion. The ......read full article

Saudi Stock Exchange Ends Trading Lower

Riyadh, May 06, 2026, SPA -- The Saudi Stock Exchange main index ended trading lower today, losing 57.70 points to close at 10,949.27 points. The total value of trading reached SAR6.7 billion, with 320 million shares traded. The Saudi Parallel Market Index (NOMU) ended higher, gaining 85.64 points to close at 22,811.84 points. Trading value on NOMU reached SAR19 million, with 2.8 million shares traded.

...read full article

Makkah Chamber Organizes 'Seasonal Work Skills' Workshop to Enhance Services for Pilgrims

Makkah, May 05, 2026, SPA -- The Makkah Chamber of Commerce organized a workshop today titled "Seasonal Work Skills," aimed at developing the capabilities of workers in Hajj-related sectors and enhancing their professional readiness to serve pilgrims efficiently and professionally.= The workshop covered several key topics, including the nature of seasonal work, time management mechanisms, and understanding human behavior, as well as best practices for interacting with pilgrims, contributing to improving their overall experience. This initiative forms part of the chamber's efforts to support private sector establishments and workforce development, enabling them to play an effective role in serving pilgrims, in line with the objectives of Saudi Vision 2030 to enhance the quality of services provided to Hajj and Umrah ......read full article

Bahri reports first quarter 2026 results with net profit of sar 2.15 billion

Q1 2026 revenue of SAR 4.96 billion (+129% YoY), driven mainly by higher freight rates, supported by a larger fleet and increased charter activity to meet customer requirements. Q1 2026 EBITDA of SAR 2.84 billion (+137% YoY) and net profit of SAR 2.15 billion (+303% YoY), with growth led by Bahri's crude oil transportation business. Bahri exercised prudent stewardship and maintained crew and vessel safety amid disruption and conflict in the Arabian Gulf, with all vessels commercially deployed. Riyadh, Kingdom of Saudi Arabia – 30 April 2026: The National Shipping Company of Saudi Arabia ("Bahri" or the "Company", 4030 on the Saudi Exchange), the Kingdom's leading shipping and logistics provider, announced its financial results for the first quarter of 2026, reporting revenue and net ......read full article

'Invest Saudi' Concludes Participation in SusHi Tech Tokyo 2026

Tokyo, April 30, 2026, SPA -- Saudi Arabia concluded its participation in the SusHi Tech Tokyo 2026 innovation and technology exhibition, held from April 27 to 29, in the presence of Saudi Ambassador to Japan Dr. Ghazi Binzagr. The participation highlighted the strength of the strategic partnership between the two countries and the Kingdom's growing position as a global hub for innovation and entrepreneurship. The exhibition featured several activities and sessions, including a strategic workshop held in partnership with the Tokyo Metropolitan Government on positioning Saudi Arabia as a global destination for entrepreneurship. The workshop showcased regulatory reforms, national policies, and strategic investments supporting Saudi Vision 2030 and attracting global capital. It drew significant interest from Japanese investors and ......read full article

Eddekhar Gains Sharia Approval from SRB for Employee Savings Offering

Eddekhar ("Eddekhar"), a workplace-based savings platform that enables employees to build savings through automated salary deductions, has received Sharia certification from Bahrain-based Shariyah Review Bureau ("SRB"). The certification confirms that Eddekhar's savings framework, which offers both investment-based savings in approved funds and non-investment savings through Murabaha financing structures, aligns with Sharia principles.   Digital financial platforms can reshape personal savings behavior as individuals increasingly adopt technology-enabled solutions that automate financial planning and improve access to investment opportunities. Workplace savings programmes have gained attention as employers seek to support employee financial wellbeing while ......read full article

EXEED delivers comprehensive Q1 performance across global markets

Riyadh, Kingdom of Saudi Arabia – April 26, 2026: EXEED has closed an active first quarter globally, with its operations under Arabian Heritage Motors by Al Ghurair continuing to build on the Kingdom's position as a priority market. From rigorous product validation to channel expansion and brand building, EXEED has shown the systemic resilience and technological depth that now underpin its growth across key regions, including the Middle East. In January, the brand unveiled its largest flagship showroom in the MENA region in Riyadh. The 5,000-square-metre space offers an immersive environment that brings together product experience and brand culture. A second showroom has since opened in Jeddah, widening Saudi customers' access to EXEED's premium line-up. Beyond the Kingdom, EXEED is making steady progress across ......read full article

ZATCA Calls on Businesses to Submit 2025 Zakat and Income Tax Returns by April 30

Riyadh, April 23, 2026, SPA -- The Zakat, Tax and Customs Authority (ZATCA) has urged businesses to submit their zakat and income tax returns for foreign establishments for the fiscal year ending December 31, 2025, no later than April 30, 2026. This call aligns with Article 102 of the Executive Regulations for Zakat Collection and Article 60 of the Income Tax Law, both of which require taxpayers to submit returns and fulfill their financial obligations within 120 days of the end of their fiscal year. The authority encouraged businesses to expedite their submissions through the e-services portal on the official ZATCA website to ensure compliance and avoid late-filing penalties. To support taxpayers, ZATCA has made several inquiry channels available, including a 24/7 unified call center at 19993, the "@Zatca_Care" social media ......read full article

Saudi Stock Exchange Ends Trading Lower

Riyadh, April 22, 2026, SPA -- The Saudi Stock Exchange main index ended trading lower today, losing 99.97 points to close at 11,244.99 points. The total value of trading reached SAR4.9 billion, with 280 million shares traded. The Saudi Parallel Market Index (NOMU) ended higher, gaining 1.18 points to close at 22,861.47 points. Trading value on NOMU reached SAR15 million, with more than two million shares traded.

...read full article

GWC Group Closes Q1 2026 with QAR 33.7 Million Net Profit in Full Delivery of Plan

–  GWC Group posts robust Q1 2026 figures –  Sheikh Mohammed Bin Hamad: Rapid response demonstrates the founding principles of GWC Group — present, reliable and responsible for Qatar and the region when it matters most –  Sheikh Abdulla Bin Fahad: In partnership with the Qatar Government, GWC Group opened new sea, land and air corridors to safeguard strategic food supplies and protect Qatar’s supply chains –  Matthew Kearns: GWC Group drew on the full strength of its GCC network to build end-to-end supply chains in real time, closing the quarter with a safe workforce and customer commitments upheld   Gulf Warehousing Company Q.P.S.C. (GWC Group), one of the region’s leading logistics groups providing cross-border and integrated logistics solutions, released its ......read full article

Saudi Venture Capital Invests in Growth Catalyst Fund

Riyadh, April 20, 2026, SPA -- Saudi Venture Capital (SVC) announced its investment in Growth Catalyst Fund, a private equity fund managed by the CMA-licensed Growth Catalyst Investment Company. According to a press release issued by the SVC, the fund aims to invest in companies at the growth and expansion stage in Saudi Arabia and across the GCC, providing capital and operational expertise to support sustainable growth, enhance operational efficiency, and strengthen market competitiveness. It focuses on key sectors, including healthcare, education, consumer, defense industries, environment and renewable energy, as well as food and beverage, targeting opportunities with strong growth potential and innovative capabilities. Deputy CEO and Chief Investment Officer at SVC Nora Alsarhan stated: “The investment in Growth Catalyst ......read full article

Over 1.5 Million Truck Trips Recorded on Saudi Arabia's Road Network in Q1 2026

Riyadh, April 15, 2026, SPA -- The Roads General Authority announced more than 1.5 million truck trips were recorded across the Kingdom of Saudi Arabia’s road network during the first quarter of 2026, reflecting the efficiency of the sector’s infrastructure and its role in supporting logistics movement, strengthening supply chains, and ensuring smooth transport across domestic and international routes. It noted that this volume of trips ensures the flow of supply chains and meets the needs of economic sectors, enhancing the reliability of the road network and supporting the movement of goods between the Kingdom and GCC countries. This is part of ongoing efforts to improve network efficiency and develop transport and logistics services. The Kingdom’s road network exceeds 73,000 km, ranking first globally in ......read full article

SDAIA and World Bank Group Advance AI Governance Through Five-Day Workshop in Washington

Washington, April 11, 2026, SPA -- A high-level international workshop on AI governance and international cooperation concluded in Washington. The event, organized by the Saudi Data and AI Authority (SDAIA) in collaboration with the World Bank Group, was held from April 6 to 10 and brought together international experts and representatives from various organizations and government entities. The workshop featured sessions on global best practices in AI governance, as well as the development of regulatory frameworks aimed at promoting responsible technology use and supporting a secure and trusted digital ecosystem. Discussions also addressed ways to strengthen international cooperation and knowledge exchange, align national policies with global frameworks, and anticipate challenges associated with the rapid advancement of data and ......read full article

Mawani's March Transshipment Containers Rise 6.66% to 148,192 TEUs

Riyadh, April 10, 2026, SPA -- The Saudi Ports Authority (Mawani) recorded a 6.66% increase in transshipment containers in March 2026, reaching 148,192 TEUs, compared with 138,937 TEUs in the same period last year. Container throughput fell 34.85% to 456,606 TEUs, compared with 700,864 TEUs in the same period last year. Inbound containers declined 42.04% to 163,142 TEUs, while outbound containers dropped 48.20% to 145,272 TEUs. Total tonnage of general cargo, dry bulk cargo, and liquid bulk cargo handled fell 25.70% to 11,278,830 tons, compared with 15,179,503 tons in the same period of 2025. Passenger numbers rose 25.89% to 73,742, compared with 58,576 passengers last year. Maritime traffic declined 20.28% to 1,124 vessels, compared with 1,410 vessels in the same period last year. Vehicle volumes fell 61.74% to 34,534, ......read full article

ZATCA Urges Establishments to Submit March 2026 Withholding Tax Forms

Riyadh, April 05, 2026, SPA -- The Zakat, Tax and Customs Authority (ZATCA) has called on establishments subject to withholding tax in the Kingdom to submit their March 2026 withholding tax forms by April 10, 2026. Submissions must be completed via the authority's website at zatca.gov.sa to avoid a late payment penalty of 1% of the unpaid tax for every 30 days past the due date. The authority also invited business sector taxpayers seeking further information on withholding tax to contact its unified call center at 19993, available 24/7, or to reach out through X at @Zatca_Care, by email at info@zatca.gov.sa, or via live chat on the official website. Withholding tax applies to payments made from Saudi sources to non-resident entities that do not have a permanent local establishment, at rates stipulated in the Income Tax Law.

...read full article

Funding Gate Enables SMEs to Expand, Grow

    Riyadh, March 31, 2026, SPA -- The Small and Medium Enterprises Bank (SME Bank) continues its role in empowering the SMEs sector through the Funding Gate, which was launched as a digital platform that connects enterprises with financing entities, enabling them to access suitable financing solutions and enhance opportunities for growth and expansion. The gate also aims to provide multiple financing options through a unified platform that connects enterprises with financing entities, allowing business owners to review all available financing offers and select the most appropriate solutions. The total value of funds provided through the gate has exceeded SAR36 billion since its establishment. The Funding Gate is linked to more than 50 financing partners, including commercial banks, non-banking financial companies, ......read full article

Saudi Stock Exchange Ends Trading Higher

Riyadh, March 30, 2026, SPA -- The Saudi Stock Exchange main index ended trading higher today, gaining 90.87 points to close at 11,167.27 points. The total value of trading reached SAR6 billion, with 298 million shares traded. The Saudi Parallel Market Index (NOMU) ended higher, gaining 131.44 points to close at 22,883.26 points. Trading value on NOMU reached SAR24 million, with more than 3.3 million shares traded.

...read full article

Gold Prices Jump over 3%

New York, March 28, 2026, SPA -- Gold prices increased by over 3% today on dip-buying after a pullback earlier this week as investors looked for signs of de-escalation in the conflict in the Middle East. Spot gold rose 3.6% to $4,536.29 per ounce, while US gold futures for April delivery also increased by 3.6%, reaching $4,533.70. In addition to gold, other precious metals saw significant gains: spot silver surged 4.4% to $71.01 per ounce, platinum rose 3% to $1,882.05, and palladium climbed 3.7% to $1,403.54.

...read full article

Fortinet Report: 1300% Surge in AI-Driven Cyber Fraud

Saudi Arabia Leads Banking Cyber Readiness in the Middle East and Africa     A recent technical report revealed a significant escalation in cyber risks facing financial institutions across the Middle East and Africa, driven by the accelerating pace of digital transformation and the expanding reliance on cloud infrastructure and advanced technologies.   The report indicated a global increase of 1300% in fraud operations based on Deepfake technology during 2024, with a growing trend toward targeting digital banking services and mobile banking through phishing attacks and AI-driven digital identity impersonation. External Parties The report titled "Cybersecurity for the Banking Sector in the Middle East and Africa 2026", issued by Fortinet, the global cybersecurity leader driving the convergence ......read full article

Saudi Stock Exchange Ends Trading Higher

Riyadh, March 08, 2026, SPA -- The Saudi Stock Exchange main index ended trading higher today, gaining 230.87 points to close at 11,007.19 points. The total value of trading reached SAR5.6 billion. The Saudi Parallel Market Index (NOMU) also ended higher, gaining 113.33 points to close at 22,610.31 points. The trading value on NOMU reached SAR11 million, with over 1.3 million shares traded.

...read full article

ZATCA Urges Establishments to Submit February Withholding Tax Forms by March 10

Riyadh, March 05, 2026, SPA -- The Zakat, Tax and Customs Authority (ZATCA) has urged establishments subject to withholding tax to submit their tax forms for February 2026 no later than March 10, 2026. Submissions must be completed via the official website (zatca.gov.sa) to avoid late penalties, which are calculated at 1% of the unpaid tax for each 30-day delay. Withholding tax applies to payments made from Saudi sources to non-resident entities without a permanent local establishment, as per the rates defined in the Income Tax Law.

...read full article

IsDB, Uzbekistan Sign Financing Agreements in AlUla for Transport and Education Sectors

AlUla, February 08, 2026, SPA -- Islamic Development Bank (IsDB) Group President Dr. Muhammad Al-Jasser and Uzbekistan's Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov signed financing agreements to support key infrastructure and social development projects on the sidelines of the Second AlUla Conference on Emerging Market Economies. The two sides also held talks to expand cooperation between the IsDB and Uzbekistan, focusing on accelerating high-impact initiatives aligned with Uzbekistan's national development priorities. The first agreement covers a $70 million phase of the IsDB’s total $192 million commitment to rehabilitate the 4R40 Dashtabad–Zaamin–Bakhmal–Galyaaral road. The financing will support the reconstruction of 143 kilometers of the regional highway and the ......read full article

IsDB Chair Meets Djiboutian Minister of Economy, Finance

Jeddah, February 4, 2026, SPA -- Islamic Development Bank (IsDB) Group Chairman Dr. Muhammad Al Jasser met yesterday in Jeddah with Djiboutian Minister of Economy and Finance Ilyas Moussa Dawaleh. The meeting focused on strengthening the strategic partnership and initial measures aligned with Djibouti’s national economic and investment development agenda, as well as discussing future cooperation, including preparations for a participation framework with the scheduled countries in 2027. Dr. Al Jasser affirmed IsDB’s commitment to supporting the health sector, urban development, food security, and inclusive and sustainable growth, in addition to enhancing resilience to drought and climate change.

...read full article

Hilton Signs First Tapestry Collection by Hilton in Saudi Arabia with Al Musbah Group

Diyar Ajwa, Tapestry Collection by Hilton, is expected to open later this year Hilton to debut lifestyle brand in the Kingdom with a locally inspired property in the heart of Madinah RIYADH, Saudi Arabia – 10 July 2025: Hilton (NYSE: HLT) today announced the signing of Diyar Ajwa, Tapestry Collection by Hilton, in partnership with Al Musbah Group – marking the debut of the lifestyle Tapestry Collection brand in Saudi Arabia. Expected to open later in 2025, the new signing reinforces Hilton’s continued expansion in the Kingdom and adds to its growing presence in one of the world’s most significant religious tourism destinations. With this addition, Hilton remains on track to reach its milestone of 100 hotels trading and in the pipeline across Saudi Arabia. Strategically located ......read full article

Hibrid and Alibaba Cloud Sign MoU to Deliver Advanced Streaming and Comprehensive Infrastructure Solutions Across Middle East and GCC

Dubai, UAE – June 25, 2025 – Hibrid, a leading UAE-based provider of innovative streaming technology, has announced a strategic collaboration with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, to offer comprehensive streaming and infrastructure services to customers throughout the Middle East and the Gulf Cooperation Council (GCC) region. This collaboration combines Hibrid's cutting-edge streaming platform with Alibaba's robust infrastructure capabilities to enhance content delivery, optimize network performance, and provide scalable solutions tailored to the unique needs of the Middle Eastern market. The partnership aims to empower businesses across various sectors, including media, telecommunications, and entertainment, by facilitating seamless streaming experiences backed by ......read full article

HSA Group Appoints Mr. Dirhem Abdo Saeed as Chairman of the Board

Dubai, UAE – 18 June 2025, HSA Group is proud to announce the appointment of Mr. Dirhem Abdo Saeed as Chairman of the Board, marking a significant milestone in the Group’s 88-year legacy as one of the Middle East’s leading multinational family businesses. With over 40 years of international business experience, Mr. Dirhem is a seasoned and accomplished business leader who has played a key role in the Group’s strategic growth across the Middle East, Africa, Asia, and Europe. He previously served as Vice Chairman of the Board, contributing significantly to the Group’s global expansion and resilience. At the heart of Mr. Dirhem’s leadership is a deep commitment to serving communities, improving the lives of millions, and championing sustainable development. He believes that the true measure of ......read full article

Islamic Development Bank Institute Engages Global Stakeholders to Advance Islamic Finance during Group Annual Meetings in Algiers

The IsDBI’s agenda focused on advancing partnerships, capacity development, and knowledge-driven solutions in Islamic finance JEDDAH, Saudi Arabia, June 2, 2025/ -- The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) has reinforced its leadership in Islamic finance by engaging with key stakeholders in a series of high-level bilateral meetings during the 2025 IsDB Group Annual Meetings in Algiers, Algeria. These strategic engagements underscore IsDBI’s commitment to fostering collaboration, innovation, and sustainable development across its Member Countries. Led by Dr. Sami Al-Suwailem, Acting Director General, the IsDBI team included Mr. Mohammad Khalid Jawahir, Senior Islamic Finance Specialist; Dr. Hylmun Izhar, Senior Research Economist; and Dr. Wejdan Kenali, Senior Editor. The IsDBI’s ......read full article

Panasonic Forges Retail Partnership with SACO to Enhance Customer Experience in Saudi Arabia

Panasonic bats for enhanced service and supply efficiency by collaborating with Saudi Company for Hardware (SACO) Riyadh, Saudi Arabia Panasonic Marketing Middle East and Africa (PMMAF) has revealed a groundbreaking strategic partnership with Saudi Company for Hardware (SACO), KSA's premier electronics and lifestyle retail distributor. This collaboration marks a significant evolution in the Kingdom's retail and electronics sectors, as it pioneers a direct supply model in the Saudi market, aligning a major international manufacturer directly with a leading national retailer. The partnership is also strategically designed to redefine how Saudi customers access and experience Panasonic's innovative products, bringing them closer to consumers through SACO's extensive network of retail locations across the ......read full article

LG Announces first-quarter 2025 financial results

Company Achieves Record-Breaking First-Quarter Revenue Driven by Balanced Growth in Home Appliance and B2B Sectors Dubai, April 25, 2025 — LG Electronics Inc. (LG) today announced consolidated revenue of USD 15.67 billion and operating profit of USD 869 million for the first quarter of 2025. This marks the highest first-quarter revenue in the company’s history and the sixth consecutive year in which operating profit surpassed USD 689 million during the first quarter. Strong performance was driven by qualitative growth across key business areas, especially in B2B, non-hardware segments (such as subscriptions and webOS platform) and direct-to-consumer (D2C) sales. Vehicle solutions and heating, ventilation and air conditioning (HVAC) – both critical to LG’s B2B strategy and future growth – delivered ......read full article

VFS Global Academy and Transformative Academy Completes First Batch of Training in Riyadh, KSA

Certification issued by Cambridge University awarded to the inaugural class 100% job placement secured for graduating class VFS Global Academy announces the successful completion of its inaugural training programme in Riyadh, in collaboration with Transformative Solutions Consulting, the leading Saudi-GCC consulting and educational firm dedicated to empowering individuals and organizations through innovative, high-impact leadership and human capital development programs. The programme, aligned with Saudi Vision 2030, focused on enhancing skills within the hospitality and tourism sectors, and has resulted in 100% job placement for all 20 graduating interns. The pioneering batch comprised students from various universities including government universities, who underwent a comprehensive 3-month Certificate Programme in Tourism ......read full article

Fourth Milling Company Reports Strong Full Year 2024 Results with Record-Breaking Revenue

Dammam, Saudi Arabia, 12 March 2025: Fourth Milling Company ("MC4" or the "Company"), a leading producer of flour and its derivatives in the Kingdom of Saudi Arabia, has announced its financial results for the fourth quarter of 2024 (“Q4 2024”) and the full year ended 31 December 2024 (“FY 2024”), showcasing substantial growth in revenue and profitability driven by a notable increase in sales volumes. The Company reported the highest annual revenue in its history of SAR 629 million, marking a 12.7% year-on-year (y-o-y) increase, and FY 2024 net profit surged 19.7% y-o-y to SAR 171 million. Key Financial and Operational Metrics  SAR Millions Q4’24 Q3’24 Change ......read full article