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China Saudi growth

Slowing Chinese economy no threat to Saudi oil exports – yet

Slower economic growth in China in the second quarter of this year has raised concerns about Saudi Arabia’s ability to maintain funding lines from its main trading partner.  The Chinese economy grew at a year-on-year rate of 4.7 percent, down from 5.3 percent in the previous quarter. In the retail sector, the pace of growth […]

Terminal 4 at DP World's Jebel Ali Port – which formed part of the region's biggest M&A deal in 2022

Mena merger activity hits ‘unprecedented’ levels

When Dubai-based headhunter Dulsco acquired Scottish energy personnel specialist Advance Global Recruitment this week, it was the latest deal in a mergers and acquisitions market that analysts say is growing at an “unprecedented” rate. The EY Middle East and North Africa M&A Insights 2022 report found that the Mena region – which historically records 500-600 […]

The three million sq m Special Integrated Logistics Zone was launched in 2022 by Saudi Arabia’s General Authority for Civil Aviation

Saudi special logistics zone signs deals to stimulate growth

Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has signed three memoranda of understanding (MoUs) to develop ‘Riyadh Integrated’, the country’s first special logistics zone. The company hopes the MoUs, signed during the inaugural Global Logistics Forum in Riyadh, will stimulate industrial growth, economic diversification and job creation.   The first agreement was signed with […]

Buy now pay later provider Tabby

Fintech Tabby doubles debt facility

Buy now, pay later company Tabby has doubled its existing debt facility as it looks to maintain triple-digit growth recorded in recent years. The fintech is backed by Abu Dhabi sovereign fund Mubadala and secured $350 million in funding through key global credit investors. Buy now, pay later (BNPL) allows consumers to order and take […]

RedSea founders Ryan Lefers, right, and Mark Tester

RedSea rules out listing in search for growth

Sustainable agriculture business RedSea has revealed plans to raise extra funds, but has ruled out a listing for the company for the moment. Founded in 2018 by plant scientist Mark Tester, agriculture engineering expert Ryan Lefers and material scientist Derya Baran, the Saudi-based agtech startup aims to find ways to feed populations in the face […]

Saudi Arabia's first robot, Sara, is inspected by a visitor at Leap in 2023. This year she was joined by a male counterpart, Mohammad

Saudi Arabia ‘leads GCC’ in adoption of robotics

The rising number of robotics companies in Saudi Arabia has helped the kingdom become a regional leader in the adoption and development of the technology, experts have told AGBI.  The number of robotics companies registered in the country surged to 2,344 in the second quarter of 2023, up from 1,537 a year earlier, according to […]

RedSea claim their heat-blocking roof technology can reduce energy usage and water use in irrigation

RedSea to dig further into Egypt’s agricultural market

RedSea, an agtech business based in Saudi Arabia, is prioritising Egypt to transform the North African nation’s agricultural industry. The company has also announced the appointment of Bruno De Oliveira as vice president of Egypt and East Africa as a result of increasing customer demand for its products.   RedSea has already installed heat-blocking roofing materials […]

People, Person, Tie

Asia must not become arena for ‘big power contest’: China’s Xi

The Asia-Pacific is no one’s backyard and should not become an arena of big power rivalry, China’s president Xi Jinping said on Thursday, warning against Cold War tensions in a region that is a flashpoint of competition between Beijing and Washington. Xi’s remarks ahead of an Asia-Pacific Economic Cooperation (APEC) summit in Bangkok were an […]

In the race to be the global hub of Web3, there is significant opportunity

Will Dubai win the Web3 race?

The co-founder of Tahseen Consulting, one of the MENA’s top tech policy firms, rates Dubai’s chances of becoming a hub for the decentralised web and crypto exchange

Saudi Arabian investment minister Khalid Al Falih and Italian business minister Adolfo Urso at the Italian-Saudi Investment Forum in Milan

Italian companies urged to make Saudi their ‘second home’

Saudi Arabia has invited top Italian companies to make the kingdom their “second home” as both countries aim to boost investment and trade levels. The Italian-Saudi Investment Forum, which brought together policy makers, business leaders and innovators, witnessed the signing of 21 memoranda of understanding (MoUs) and investment agreements. They covered sectors including clean energy, […]

Abdulaziz bin Abdulrahman Al-Arifi

New CEO named for Saudi’s $1.3trn private sector push

A new CEO has been appointed to the Private Sector Partnership Reinforcement Program which aims to facilitate investments of $1.33 trillion from Saudi private sector businesses by 2030. Abdulaziz bin Abdulrahman Al-Arifi, advisor to the Secretariat General of the Cabinet and a former CEO of finance at Jadwa Investment, has been hired to lead the […]