Analysis Banking and Finance Strong post-IPO performance bodes well for Saudi flotations Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London […] January 14, 2025
Opinion Mining Riyadh seeks to become ‘rule shaper, not rule taker’ in mining Saudi Arabia's ambitions for a super-region will be on display at this week's Future Minerals Forum January 13, 2025
Energy Sale of enriched uranium announced by Saudi Arabia Saudi Arabia intends to export enriched uranium, the country’s energy minister, Prince Abdulaziz bin Salman, said on Monday. The announcement is the latest indication of Saudi nuclear ambitions. Saudi Arabia has long expressed an interest in developing a nuclear power sector and has engaged in talks with the United States over nuclear cooperation, which were […] January 13, 2025
Employment Saudi Arabia plans cash pay-offs to cut public sector jobs Saudi Arabia is to offer cash incentives to encourage unproductive employees in the public sector to resign in a bid to tackle inefficiency. Saudi newspapers have reported that the government has earmarked nearly 12.7 billion riyals ($3.38 billion) for the three-year plan, which it dubs the ‘Golden Handshake’. While Riyadh has not clarified why it […] January 13, 2025
Trade End sanctions on Syria, says Saudi Arabia Prince Faisal bin Farhan, Saudi Arabia’s foreign minister, has called for an end to economic sanctions on Syria, as the kingdom looks to repair trade and relations after the overthrow of the Assad regime. Speaking at a ministerial meeting in Riyadh to discuss Syria, Prince Faisal said that “continuing sanctions will hinder the aspirations of […] January 13, 2025
Manufacturing Alba and Ma’aden end merger discussions Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been taking place since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive, Ali Al Baqali. […] January 13, 2025
Editor's insight Economy Balancing the Saudi books to improve growth The sixth line of the Riyadh metro has now opened – a considerable achievement executed at unprecedented speed, according to architects and engineers interviewed by Valentina Pasquali. But the IMF is predicting growth in the Saudi economy of only 1.5 percent this year. Not so great. It is easy to be sceptical of macroeconomic forecasts, subject as they […] January 13, 2025
Finance Saudi Arabia exceeds 2030 target for regional HQs Global companies opening regional headquarters in Saudi Arabia have exceeded the Vision 2030 target, the investment minister has said. The number of companies setting up their main regional base in the kingdom has reached 571, primarily in the industrial sector, Khalid Al Falih told Asharq Business, an Arabic-language financial portal. The Gulf state, he said, […] January 13, 2025
Economy New Lebanese president faces uphill task on economy Joseph Aoun, the new Lebanese president who was elected on Thursday, faces an uphill task of pulling his country out of the worst financial crisis since independence, according to analysts. After a presidential vacuum of more than two years, the 60-year-old Maronite Christian and former army commander takes over the Baabda presidential palace against the […] January 10, 2025
Giga-projects Rising fuel and feedstock prices could fund Vision 2030 Higher feedstock and fuel prices introduced in Saudi Arabia are likely to play a part in funding the kingdom’s trillion-dollar Vision 2030 programme, according to a leading ratings agency. From the start of the month, the price of methane, the main component of natural gas and commonly used as a fuel in cement kilns, rose […] January 10, 2025
Manufacturing Lenovo completes $2bn deal to open Saudi PC factory The Chinese computer maker Lenovo Group will open a PC manufacturing facility next year in Saudi Arabia after the completion of a $2 billion investment deal with Alat, a Public Investment Fund-backed manufacturing company. The agreement means the company, which has headquarters in Hong Kong, will establish its Middle East and Africa HQ in Riyadh. The deal, […] January 10, 2025
Renewable Energy Acwa Power awarded 1GW solar project in Iraq Iraq has invited Saudi Arabian utilities major Acwa Power to finalise an agreement for the construction of a 1,000 megawatt (MW) solar energy plant, local media reported. The country, Opec’s second largest oil producer, is engaged in a post-war programme to tackle a persistent power supply deficit. The plant in the Central Najaf governorate is […] January 10, 2025
Energy PIF-backed Tabreed explores Saudi listing this year Tabreed District Cooling is planning to launch an initial public offering (IPO) on the Saudi stock market this year, according to a news report. Backed by the Public Investment Fund (PIF), the refrigeration and cooling company has hired Citigroup and SNB Capital for a potential flotation, Bloomberg reported, citing informed sources. While no final decisions […] January 10, 2025
Agriculture Middle East’s biggest ‘livestock city’ set for Saudi province A SAR9 billion ($2.4 billion) plan to develop the largest “livestock city” in the Middle East has been announced by the Saudi Eastern Province city of Hafr Al Batin. The project, which is expected to provide 30 percent of Saudi Arabia’s demand for red meat, was announced at the Hafr Al Batin Investment Forum 2025 […] January 10, 2025
Finance Saudi Arabia’s PIF invests $200m in JP Morgan fund Saudi Arabia’s Public Investment Fund has invested $200 million in a recently launched exchange-traded fund that tracks dollar-denominated bonds and sukuk issued by the kingdom’s government and quasi-state entities. The JP Morgan Saudi Arabia Aggregate Bond UCITS ETF, created in mid-December, is the first internationally listed fixed-income Saudi Arabian ETF. As such, it “further deepens […] January 9, 2025
Economy Tech companies fuel spike in Saudi business registrations Commercial business registrations in Saudi Arabia increased by more than two-thirds in the fourth quarter of 2024, led by a proliferation of technology-based companies setting up in the kingdom. Over 160,000 new records were issued throughout the three-month period, taking the number of active commercial registrations in the country to more than 1.6 million, according […] January 9, 2025
Opinion Employment UAE and Saudi Arabia are magnets for global talent Recruiters say the region is attracting applications from global workers on an unprecedented scale January 8, 2025
Analysis Finance Saudi startup funding tumbles as era of cheap money ends Funding for startups in Saudi Arabia dropped 44 percent to $750 million last year, the sharpest decline in the Middle East and North Africa, according to data analyst Magnitt. Across Mena, venture capital was down 29 percent to just under $2 billion, reflecting global trends of high interest rates and investor caution. Saudi Arabia was […] January 8, 2025
Business of Sport Stake in Premier League team sought by Saudi brothers A US-Saudi group has reportedly signed an exclusivity agreement to buy 45 percent of the English Premier League club Crystal Palace. A consortium funded by the Saudi brothers Mansoor and Haider Syed, which includes US sports and business executives, has agreed to buy the stake in the club owned by the American company Eagle Football, […] January 7, 2025
Tech Saudi Aramco leads $30m investment in tech startup Wa’ed Ventures, the $500 million venture capital fund owned by Saudi Aramco, and Japanese conglomerate Sumitomo have invested in Zension Technologies, a consumer electronics startup. Wa’ed led the funding raise of $30 million, which also included Dubai-based Global Ventures. Based in Riyadh, Zension provides consumers with access to the latest tech devices. Instead of purchasing devices […] January 7, 2025
