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Climate change

Private sector key to tackling climate change, says tourism chief

The world cannot expect governments to combat climate change alone and the private sector must step up and safeguard the future of the planet, according to John Pagano, CEO of Saudi’s Red Sea Global. Countries across the world are taking various measures to address climate change. In the Middle East, the UAE and Oman have […]

UK and Saudi Arabia plant seed for closer ties on green finance

Saudi Arabia has signed an agreement with the UK to foster greater cooperation on green finance as the kingdom looks increasingly at ethical funding for its transformative giga-projects. Jeremy Hunt, the UK’s chancellor of the exchequer, and Mohammed Al-Jadaan, the Saudi minister of finance, met on Tuesday in London to sign a memorandum of understanding […]

Partanna concrete

Caribbean carbon-negative concrete set for Saudi projects

Bahamas-based startup Partanna is finalising the terms of its first commercial partnership in the Middle East – a tie-up with the developer responsible for two of Saudi Arabia’s flagship giga-projects, Red Sea and Amaala. A joint venture is expected to be signed with Red Sea Global (RSG) early next year, according to Rick Fox, co-founder […]

Amaala

Saudi giga-projects: ‘enough work for every sector of the industry’

While much of the global economy is reeling from a sharp slowdown in growth, Saudi Arabia recorded a GDP growth rate of 8.6 percent in the third quarter this year, with its economy being propelled forward by ambitious projects in its tourism sector.  The Red Sea Global (RSG) giga-project, which comprises the kingdom’s flagship tourism […]

Heavy industries replace tech in Middle East funding rounds

More traditional industries such as manufacturing and oil and gas services have replaced technology as the driving force behind capital flows between Europe and the Middle East, according to new research The switch comes as technology giants including Alphabet, Microsoft, Meta and Amazon reported disappointing third-quarter results and the tech-heavy Nasdaq stock market has lost […]