Opinion Oil & Gas Why the Saudis have to keep oil prices higher for longer The kingdom's vast Vision 2030 plan makes it imperative that it keeps oil prices high February 13, 2024
Giga-projects Jeddah Central signs contracts for major landmarks Jeddah Central, the developer of one of Saudi Arabia’s giga-projects, signed four construction contracts this week for a set of major landmarks. According to the state-run Saudi Press Agency, Jeddah Central’s CEO Ahmed bin Abdulaziz Al-Saleem signed the contracts to construct a sports stadium, an oceanarium, an opera house and infrastructure work in the Red […] February 6, 2024
Opinion Business of Sport Saudi Arabia should saddle up for soft power of horses There is a strong rationale for the kingdom to take equestrian pursuits seriously February 2, 2024
Leisure & Hospitality Fitness brands shape up for Saudi expansion plans GymNation, founded in Dubai, has revealed plans to open 50 new fitness centres in Saudi Arabia as it seeks to capitalise on the kingdom’s billion-dollar fitness industry. The mid-market brand was set up six years ago and currently operates 11 gyms in the emirate, with a further six set to open before the summer. Founder […] February 1, 2024
Economy IMF predicts 2025 rebound for Saudi GDP The International Monetary Fund this week lowered its 2024 forecast for GDP in Saudi Arabia to 2.7 percent, down from 4.0 percent forecast last October. The IMF cited the kingdom’s lower oil production, a day after state oil company Saudi Aramco surprised markets by scrapping plans to expand maximum output capacity to 13 million barrels […] January 31, 2024
Video length: 01:02 VIDEO Tourism Saudi tourism scores big with Lionel Messi video Global Google searches for “Saudi tourism” shot up at the weekend after tourism bosses in the kingdom released a new promotional video starring footballer Lionel Messi. The campaign, which is being launched in markets including Europe, India and China, focuses on overturning common misconceptions about Saudi Arabia. The video has been watched by 50 million […] January 30, 2024
Opinion Markets Jack be nimble, if you want to make money in the Tadawul Investors should increase their exposure to Saudi non-oil sectors such as retail and food January 30, 2024
Construction Neom reveals Zardun: a luxury eco-resort Neom, the smart city being developed in the north west of Saudi Arabia, has announced another luxury ecotourism resort on the Gulf of Aqaba, called Zardun. Neom has rolled out plans for a range of luxury resorts in recent months. These include Aquellum, with a floating marina; a tower complex called Epicon; the mountain hotel […] January 25, 2024
Opinion Cybersecurity Fighting cybercrime in the age of quantum computing The Middle East must learn to navigate the threats and the opportunities January 25, 2024
Aviation Saudi will top Gulf business travel chart, says Wego boss Business travel to and from Saudi Arabia is expected to surpass neighbouring UAE, according to the CEO and co-founder of online travel marketplace Wego. As of the start of this month, foreign companies hoping to gain access to billions of dollars worth of government contracts must have their regional headquarters in Riyadh. The regional HQ […] January 25, 2024
Construction Seven plans entertainment sites in remote parts of Saudi Arabia Saudi giga-project developer Seven says it will open the first of 21 destinations next year as part of its mandate to build entertainment complexes in remote corners of the country. It plans to roll them out over the next six years. Damien Latham, chief attraction officer at the Public Investment Fund subsidiary, said Seven had […] January 25, 2024
EXCLUSIVE Giga-projects Saudi’s Qiddiya to open first sites next year as plans grow Saudi Arabia’s mega sports and entertainment city Qiddiya is adding more hotel space and attractions to its masterplan to accommodate Riyadh’s projected population growth, a senior official said this week. Riyadh’s population is forecast to grow to 15 million by 2030. The city was chosen last year as the location for Expo 2030. Qiddiya, southwest […] January 23, 2024
Trade Saudi-Morocco fund to drive investments – and closer ties Saudi Arabia and Morocco are setting up a joint investment fund as part of a deal to strengthen co-operation between their private sectors. The Saudi-Moroccan Economic Forum, held in Riyadh on Sunday, also included an agreement on direct shipping line projects. In addition, Saudi companies will get more support in accessing North African and European […] January 23, 2024
Opinion Logistics The Saudi e-commerce surge is transforming logistics A young, digitally savvy population is changing the way the kingdom does business January 22, 2024
Infrastructure Saudi airports operator issues tender for Abha expansion Saudi Arabia’s state-owned airport operator has issued a tender for a new terminal at Abha International Airport in the Aseer region. The Civil Aviation Holding Company, also known as Matarat, has called for expressions of interest by the end of this month. On offer is a 30-year build-operate-transfer deal to develop and run the terminal. […] January 17, 2024
Opinion People & Lifestyle The world is moving to Saudi Arabia The kingdom could supplant the UAE as the GCC destination of choice for both tourists and migrants January 16, 2024
Giga-projects Saudi Arabia plans stadium for holographic concerts Saudi Arabia has announced plans to build a new stadium featuring holographic technology that will be able to stage virtual interactions with celebrities and artists. The Prince Mohammed bin Salman Stadium will be built in Qiddiya City, located 40 minutes from Riyadh and part of the kingdom’s new entertainment city, the state-run Saudi Press Agency […] January 15, 2024
Economy Larger deficits unlikely to trouble Saudi debt access Saudi Arabia faces several years of budget deficits as it pushes ahead with massive development projects. Construction is fuelling the regional economy despite a slide in oil prices, raising questions about the kingdom’s continued access to debt markets. Saudi Arabia launched its Vision 2030 plan in 2016 to diversify the economy away from oil, but […] January 15, 2024
Employment New Saudi visas aim to lure ‘high-wealth investors’ Saudi Arabia’s new long-term residency visas is at attracting “high-wealth investors” to the kingdom, though it may hinder the nurturing of local talent, some analysts have warned. The updated “premium residency” options are designed to lure top global talent to Saudi Arabia as it continues its billion-dollar transformation from a hydrocarbon-based economy. The visas cover […] January 11, 2024
Giga-projects Neom launches ‘futuristic’ project on Aqaba coast Saudi Arabia’s $500 billion Neom giga-project has launched Aquellum, a “futuristic” mixed-use development on the Gulf of Aqaba coast. The project will be concealed from the outside along the coastline, hidden within a 450-metre-high mountain range. Visitors will access Aquellum through “the world’s first floating marina” in a specially designed vessel, entering through a concealed […] January 11, 2024
Industry Saudi Arabia invests $400bn in factories as oil industry slows Total investment in Saudi Arabia’s industrial sector has risen by nearly 10 percent in a year, to reach SAR1.5 trillion ($400 billion). The official figures, released by the Saudi Press Agency, show growth of 1.5 percent in the third quarter of 2023 and growth of 9.3 percent for the year to Q3. The non-oil economy […] January 11, 2024
Sustainability Gulf’s recycling industry grows with mega-projects The volume of Gulf construction projects will increase the use of recycled materials, the head of the Bureau of Middle East Recycling has told AGBI. Ibrahim Aboura, who is also managing director of Aboura Metals in Dubai and a committee chairman of the Bureau of International Recycling (BIR), added that it will also raise the […] January 8, 2024
