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Banking & Finance

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Dealmaking potential soars in the Middle East in 2024: Report

Robust M&A activity in the region with economic diversification driving growth

EFG Hermes concludes advisory on Cenomi retail’s sale of a portfolio of fashion brands to Abdullah Al-Othaim Fashion

In December 2023, Cenomi Retail acquired 100 percent of the share capital of Innovative Outfit Trading Company

Fintech accelerator programs: Paving the way for innovation and growth

Accelerating innovation, unveiling market trends and crafting business success

LEAP 2024: Takamol Holdings launches $53 million investment fund to empower tech startups

The initiative seeks to advance tech sectors in the Middle East and Africa

LEAP 2024: Saudi Arabia bolsters tech hub leadership with $888 million in deals

Investment funds and funding rounds to support innovation and tech entrepreneurship

With over $15.4 billion in investments, Aramco seeks stronger collaboration with China

Amin Nasser highlights mutual opportunities for economic growth and investments

Oil to retain significant role in energy markets for decades, affirms OPEC Secretary General

Al-Ghais highlighted that calls to abandon oil were "wrong" and "unrealistic"

Oil demand will reach a record 104 million barrels per day in 2024: Aramco CEO

Nasser emphasizes the effectiveness of carbon capture in mitigating greenhouse gasses

Egypt’s Modern Gas to develop $533K subsidiary in Saudi Arabia

Modern Gas generated revenues of $55.2 million in 2023

Saudi Arabia’s crude exports dip 0.2 percent in January

OPEC+ extends output cuts amid market dynamics and global demand predictions

Canadian firms eye investments in Saudi Arabia’s healthcare sector

Will strengthen bilateral cooperation in healthcare and medical services

Saudi Arabia boosts local drug production with 4 key agreements

Agreements mark significant step towards health and pharmaceutical security

New blood test promises early detection of Alzheimer’s disease

Testing blood for p-tau217 could provide accurate Alzheimer’s screening before symptoms manifest

Saudi Arabia introduces insurance for new domestic workers

Insurance will become part of the employer’s contract

Workplace wellness: 5 tips for a healthier office environment

Enhancing employee well-being improves organizational performance

Industry

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Saudi Arabia’s mineral wealth estimated at $2.4 trillion

Exploitation licenses in the Kingdoms mining sector soared by 138 percent

Investments in 11,670 Saudi factories reach $410 trillion by January

A total of 152 new industrial licenses were issued in January

Saudi Arabia’s industrial production index up 0.3 percent in January on mining and quarrying

Manufacturing activities in the Kingdom rose by 1.1 percent in January 2024

Saudi Arabia’s Ceer awards $1.3 billion contract for EV manufacturing complex

Saudi Arabia's first EV brand advances Vision 2030 with state-of-the-art facility

With $2.5 trillion in mineral resources, Saudi Arabia set to become global mining hub

Saudi Arabia's Vision 2030 serves as the driving force behind the nation's strategic endeavors in the mining industry

Saudi Arabia launches strategy and academy to develop human capabilities in industry, mining

The new academy will offer direct training programs for professionals and graduates

Logistics

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Top performing airports in Saudi Arabia highlighted in GACA report

King Abdulaziz International Airport secured the top spot with a 91 percent compliance rate

Saudi Arabia’s Mawani introduces ‘GALEX’ shipping service at King Abdulaziz Port in Dammam

This service aims to strengthen the maritime connections between Saudi Arabia and East Asia

Saudi Arabia, Bahrain strengthen collaboration in transportation and road maintenance

The agreements seek knowledge sharing and the organization of training programs and seminars

Saudi Arabia’s air traffic surpasses pre-pandemic levels in 2023 with 112 million passengers

Saudi Arabia attributes the surge in passenger traffic to the increasing prominence of low-cost carriers

Saudi Arabia’s airports excel in complaint resolution: GACA reports near-perfect performance in February

King Khalid International Airport topped international terminals with over 6 million passengers annually

Saudi Arabia’s shipping services receive high marks on U.N. maritime connectivity index

The recent evaluation demonstrates a 30 percent increase since launch of Vision 2030 initiative in January 2016

Saudi gold market faces volatility as U.S. dollar gains momentum

Copper retreats from 11-month highs amid growing concerns over China

Oil prices slide on stronger dollar, potential Middle East tensions alleviation

Declining gasoline supply in the U.S. indicates potential slowdown in crude demand

Saudi Arabia sees modest increase in gold prices following Fed’s policy announcement

Resurgence of copper rally takes center stage, PMIs come into focus

Oil prices surge on weaker dollar, Fed’s policy announcement

The expectation of limited supplies continued to support crude prices

Miscellaneous

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Saudi ministries boost job opportunities with 35 percent localization in dental professions

The new resolution will apply to private sector establishments that employ three or more workers in dental professions

Saudi Arabia’s Qiddiya to host Esports World Cup in Gaming & Esports District

The inaugural Esports World Cup is set to take place later this year in Riyadh

Qiddiya: New details revealed about Saudi Arabia’s F1 track

The new track will feature a 108-meter elevation difference across its 21 corners

10 biggest companies in the world by market capitalization

Energy powerhouse Saudi Aramco makes it to the list

Riyadh Season 2023 draws in more than 72 million visitors globally

The initiative recorded over 6,000 licenses for 230 entertainment destinations

Real Estate

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Construction begins on Al-Urubah Park, Riyadh’s largest green space project

More than 600,000 trees and shrubs will be planted, covering 65 percent of the park area

Egyptian government signs $1 billion agreement with alliance for real estate development

Facilitating logistical supply for real estate-related projects in Saudi Arabia

GCC real estate sector set for growth in the first half of 2024

Stable oil prices and strong economic indicators drive optimism

NHC launches Eyal Sadayem community project in Jeddah

The new project includes 390 villas and townhouses

Saudi nationals employed in real estate surge 116 percent

Saudis working in the private sector reached 2.3 million in 2023

LEAP 2024: Ericsson, Mobily boost digital transformation with AI-powered managed services

The two companies extended the managed services partnership for another three years

LEAP 2024: Ericsson and ACES partner to revolutionize indoor 5G connectivity in Saudi Arabia

The deal aims to create a neutral host ecosystem, allowing service providers to share infrastructure

stc Group records $19.28 billion in revenues for 2023

The Group reported $3.6 billion in net profits

Group CEO Hatem Dowidar on how e& is spearheading the world’s transformative tech space

Diversifying its business and creating robust pillars are key to its continuing success

stc Group partners with iBASIS to boost IoT connectivity in MENA

Enhancing global communication and driving digital transformation in the region