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New York-based consulting firm Elevate has acquired RISE Group, a marketing and commercial services consultancy headquartered in Riyadh and Dubai. The acquisition, for an undisclosed amount, is pending customary regulatory approvals. This move marks Elevate’s strategic entry into the Middle East and North Africa region, aiming to capitalise on the burgeoning sports and entertainment sectors. As part of the agreement, RISE co-founders Seth Holmes and Tom Berrington […]

HONG KONG SAR – Media OutReach Newswire – 20 May 2025 – Mandarin Oriental, Hong Kong and LANDMARK are delighted to announce the forthcoming launch of a new dining venture in partnership with award-winning French chef, Daniel Boulud. Terrace Boulud, Hong Kong is scheduled to open in January 2026 on the 25th floor of LANDMARK PRINCE’S in Central Hong Kong, bringing Chef Boulud’s acclaimed French cuisine to […]

Saudi Telecom Company’s Tali Ventures and Aramco’s Wa’ed Ventures have jointly led a $19 million investment in Graphiant, a US-based network connectivity start-up, as part of a broader $102 million Series B funding round. The move underscores the Kingdom’s strategic push to enhance its digital infrastructure and diversify its economy in line with Vision 2030. Graphiant, headquartered in California, specialises in providing a unified network solution that […]

Saudi Basic Industries Corporation is advancing plans to list its gas subsidiary, National Industrial Gases Company , potentially within the current year. The Riyadh-based industrial giant is in early-stage talks with major financial advisers, including Lazard Inc., HSBC Holdings, JPMorgan Chase & Co., and Morgan Stanley, aiming to navigate the initial public offering process. This move reflects SABIC’s strategic intent to unlock value from its non-core assets […]

Eight Sleep, the US-based sleep fitness company, has launched its flagship Pod 5 system in Saudi Arabia, aiming to address the Kingdom’s widespread sleep quality issues. The move follows internal data indicating that Saudi Arabia ranks lowest among over 30 global markets in sleep quality.

The Pod 5 system features a temperature-controlled mattress cover and blanket, offering adjustable cooling and heating between 55°F to 110°F. Integrated surround-sound speakers provide soothing soundscapes and guided meditations, developed in collaboration with neuroscientist Andrew Huberman. A new Health Check feature monitors heart rate and breathing during sleep, providing overnight health insights through AI analysis. The system’s price ranges from $2,849 for the Core model to $6,099 for the full setup, with an annual subscription fee starting at $199.

Eight Sleep’s expansion into Saudi Arabia follows its entry into the UAE market, where sales within the first three months were five times higher than the average for other markets. The company plans to expand further into the GCC region, with Saudi Arabia and the UAE as key focus markets.

The launch of Pod 5 in Saudi Arabia comes amid growing awareness of sleep health in the region. A survey of 2,727 people across the GCC found that only half manage to sleep for the recommended six to eight hours per night, with 24 percent getting less than six hours. Cities such as Riyadh and Jeddah are among the worst in the world for sleep, according to data from wearable device company Whoop.

Eight Sleep’s Pod technology aims to address these issues by offering personalized sleep solutions. The system’s AI-powered features adjust bed temperature automatically, track sleep health metrics, and provide personalized sleep fitness scores. The company claims that after one month of using the Pod, members reported 32% better sleep quality scores on average, with improvements in daytime energy, sleep interruptions, and sleep onset time.

The sleep tech market in Saudi Arabia is growing, with both wearable and non-wearable technologies playing important roles in improving sleep quality and managing sleep disorders. Non-wearable sleep tech devices, such as smart mattresses and sleep-enhancing pillows, currently dominate the market. Consumers frequently want to test the comfort and functionality of these products in retail settings before making a purchase.

Elon Musk confirmed that Saudi Arabia has authorised the deployment of Starlink, his satellite internet service, for aviation and maritime applications. The announcement was made during the Saudi-US Investment Forum in Riyadh, where Musk also expressed interest in introducing Tesla’s autonomous vehicles to the Kingdom.

Starlink, operated by Musk’s aerospace company SpaceX, aims to provide high-speed internet connectivity, particularly in underserved and mobile regions. The approval in Saudi Arabia allows the service to cater to the country’s aviation and maritime sectors, enhancing communication capabilities in these industries.

Musk’s participation in the forum coincided with a visit by former U.S. President Donald Trump, who was in the Kingdom to strengthen bilateral economic ties. During the event, Musk showcased Tesla’s Optimus humanoid robots and discussed the potential introduction of Tesla’s self-driving vehicles in Saudi Arabia, aligning with the nation’s Vision 2030 initiative to diversify its economy through technological innovation.

Saudi Arabia has been investing heavily in its transportation and logistics infrastructure, aiming to become a global hub in these sectors. The integration of Starlink’s satellite internet service is expected to bolster the Kingdom’s capabilities in aviation and maritime operations, contributing to its broader economic diversification goals.

While Musk did not provide a specific timeline for the introduction of Tesla’s autonomous vehicles in Saudi Arabia, his discussions with Saudi officials indicate a mutual interest in exploring advanced transportation technologies. The Kingdom’s commitment to embracing innovative solutions positions it as a potential market for Tesla’s self-driving technology.

Saudi Arabia has authorised SpaceX’s Starlink satellite internet service for deployment in its aviation and maritime sectors, marking a significant step in the Kingdom’s push to modernise its digital infrastructure. The announcement was made by Elon Musk during the Saudi-US Investment Forum in Riyadh, where he expressed gratitude to the Kingdom for the approval. The decision aligns with Saudi Arabia’s broader ambitions to diversify its economy and […]

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Saudi Aramco has unveiled 34 preliminary agreements with major American firms, collectively valued at up to $90 billion, marking one of its most substantial single-day commitments to deepening commercial ties with the United States. The signings, announced during the U.S.-Saudi Investment Forum in Riyadh, coincide with U.S. President Donald Trump’s Gulf tour and underscore Aramco’s strategic push to diversify its portfolio under Saudi Arabia’s Vision 2030 initiative.

The agreements span a broad spectrum of sectors, including energy, technology, and finance. In the energy domain, Aramco has entered into memoranda of understanding with U.S. liquefied natural gas producers NextDecade and Sempra, securing approximately 6.2 million tons of LNG supply. This move aligns with Aramco’s ambition to reach nearly 7.5 million tons of LNG capacity by 2030. Additionally, a $3.4 billion investment is earmarked for the expansion of the Motiva refinery in Texas, enhancing its refining capabilities.

In the technology sector, Aramco has partnered with Nvidia to establish advanced industrial AI infrastructure, including an AI Hub and a robotics center. Collaborations with Amazon Web Services and Qualcomm aim to drive digital transformation and enhance industrial networks and AI capabilities. An agreement with ExxonMobil focuses on evaluating significant upgrades to their SAMREF refinery, with plans to expand it into an integrated petrochemical complex.

The financial services front sees Aramco forging agreements with asset management giants such as PIMCO, State Street Corporation, and Wellington. A notable initiative includes the establishment of a unified investment fund, named ‘Fund of One,’ in collaboration with BlackRock, Goldman Sachs, Morgan Stanley, and PIMCO, aimed at streamlining short-term cash investments.

Acwa Power has formalised Memorandums of Understanding valued at $500 million with several US companies, reinforcing its strategic collaborations in the energy sector. These agreements were signed during the Saudi-US Investment Forum held in Riyadh, aiming to bolster innovation and investment in renewable energy and infrastructure. The new MoUs build upon Acwa Power’s existing partnerships with American firms, which now collectively exceed $6 billion. The latest agreements […]

U.S. President Donald Trump has announced plans to lift longstanding U.S. sanctions on Syria, in place since 1979 and intensified during the Syrian Civil War. During his Middle East tour, Trump revealed the decision at the U.S.-Saudi Investment Forum, describing the sanctions as historically significant yet now detrimental. The sanctions had frozen Syrian assets, banned petroleum imports, and isolated the country from the global economy. Critics highlight […]

By Nitya Chakraborty Soon after organizing a 90 day truce last week end at Geneva through three day intensive talks between top officials of the United States and China, President Donald Trump is on a three nation tour covering Saudi Arabia, Qatar and UAE to pursue his deal making focusing on both trade and security. […]

Supermarket operator Spinneys reported a 14% year-on-year increase in net profit for the first quarter of 2025, reaching AED 85 million , buoyed by new store openings and a significant uptick in online sales. Revenue for the quarter climbed over 11% to AED 906 million, reflecting the company’s strategic expansion and digital initiatives.

The Dubai-based retailer, which went public on the Dubai Financial Market in 2024, attributed its robust performance to the launch of three new stores and a continued focus on enhancing its e-commerce platform. The company has been actively expanding its footprint, with plans to open 10 to 12 new stores across the UAE and Saudi Arabia by the end of the year.

Spinneys’ entry into the Saudi market marks a significant milestone in its regional growth strategy. The company inaugurated its first store in Riyadh’s La Strada Yard, receiving an exceptional response from customers. CEO Sunil Kumar highlighted the strong demand in the Kingdom, stating that the early performance reinforces a positive outlook for Spinneys in Saudi Arabia. The retailer plans to open additional stores in Riyadh’s King Abdulaziz Financial District and other locations before the end of 2025.

The company’s e-commerce segment has also shown impressive growth. Online sales increased by 21.7% year-on-year, surpassing AED 217 million in the first half of 2024. E-commerce now accounts for 14% of Spinneys’ total revenue, driven by the launch of the Spinneys Swift app, which offers hyperlocal delivery services. The app’s 60-minute delivery service has been piloted in key locations, with plans for a broader rollout across the UAE.

Spinneys’ strategic focus on premium grocery segments has positioned it well in the GCC’s evolving retail landscape. The company’s target market, comprising affluent households, is growing faster than the broader grocery sector. In the UAE, this segment is projected to expand at a compound annual growth rate of 4.4% from 2022 to 2028, while in Riyadh and Jeddah, the growth rate is expected to be 6.7%.

The retailer’s commitment to quality and innovation is evident in its product offerings and store concepts. Spinneys has introduced ‘The Kitchen, by Spinneys,’ a food hall concept in Dubai Mall, offering fresh meal solutions with margins exceeding traditional grocery retail. The company plans to open more locations of this concept in the UAE, catering to the growing demand for convenient and high-quality dining options.

Financially, Spinneys maintains a strong position. The company reported a 9.9% increase in revenue to AED 1.6 billion in the first half of 2024, with a net profit of AED 146 million, up 15.2% year-on-year. Despite the introduction of a 9% corporate tax in the UAE, Spinneys has continued to deliver solid financial results, supported by efficient sourcing, supply chain management, and a successful private label strategy.

Arabian Post Staff -Dubai President Donald Trump’s ambitious pursuit of $1 trillion in investment pledges from Saudi Arabia is encountering a formidable challenge: the kingdom’s own sweeping economic transformation plans, which are projected to cost nearly twice that amount. As Trump embarks on his first Middle East tour of his second term, his administration is focusing on securing substantial trade and investment agreements with Gulf allies, including […]

Primark, the renowned UK-based fashion retailer, is poised to make its debut in Dubai, marking a significant expansion into the Middle East market. The brand plans to open three flagship stores in early 2026, strategically located in Dubai Mall, Mall of the Emirates, and City Centre Mirdif. This move is part of a strategic partnership between Primark and Alshaya Group, a leading international retail franchise operator. The […]

By Saifur Rahman The Emirates Group reported an 18 percent growth in profit before tax exceeding US$6.2 billion (Dh22.7 billion) – a new record – in the financial year 2024-25. This is the first financial year that the UAE corporate tax, enacted in 2023, is applied to the Emirates Group. After accounting for the 9 percent tax charge, the Group’s profit after tax reached US$5.6 billion (Dh20.5 […]

Greenlogue/AP CO2Wall, a Netherlands-based climate solutions company, has launched operations in Saudi Arabia with the opening of a new office in Riyadh. This move aligns with the Kingdom’s Vision 2030, which aims to achieve carbon neutrality by 2060 and enhance urban sustainability. The company’s expansion is facilitated through a partnership with AstroLabs, a business expansion platform in the Gulf region. Gerwin Pul, CEO of CO2Wall Group BV […]

Saudi Arabia, the leading member of OPEC, has been pursuing an unconventional strategy in recent months, opting to lower oil prices in an effort to restore discipline within the group. The move marks a stark contrast to the traditional approach of pushing prices higher, a tactic long favoured by OPEC to maximise revenue. However, Riyadh’s shift in approach reflects the kingdom’s growing frustration with certain OPEC+ members, […]

Saudi Arabia has achieved a major leap forward in its Vision 2030 ambitions, with a significant number of its key initiatives either completed or advancing on schedule, according to the Vision 2030 Annual Report 2024. As of the end of last year, 85 per cent of the 1,502 active projects under the reform plan are either finalised or progressing as planned, demonstrating an accelerated pace towards economic […]

Syria’s fragile post-war recovery effort gained significant momentum after Saudi Arabia and Qatar pledged to clear the country’s outstanding World Bank debt, a critical step towards unlocking new international funding. The commitment, disclosed following the World Bank and International Monetary Fund spring meetings held last week in Washington, addresses approximately $15 million owed by Damascus, removing a key financial impediment for the new government led by President Ahmed Al-Sharaa.

High-level negotiations between Gulf officials and World Bank representatives culminated in the decision to settle Syria’s arrears, a move regarded by diplomats as essential for enabling the war-torn nation to access multilateral financial assistance. The overdue debt, though relatively modest in scale, had barred Syria from eligibility for fresh disbursements under the World Bank’s policies requiring client countries to be in good standing.

Officials familiar with the discussions indicated that Saudi Arabia and Qatar’s intervention was not merely financial but symbolised broader regional efforts to stabilise Syria’s economy and reintegrate it into international institutions. According to sources briefed on the meetings, both governments framed the payment as part of a larger initiative to support Syria’s economic reconstruction and political transition under Al-Sharaa, who assumed office earlier this year following a contested but internationally recognised electoral process.

President Al-Sharaa, whose government has pledged sweeping economic reforms, welcomed the support, calling it “a step towards restoring Syria’s rightful place in the global community.” Speaking through an official statement issued by the presidential office in Damascus, he emphasised that rebuilding national infrastructure, restoring basic services, and attracting private sector investment were now top priorities. His administration faces the immense challenge of reconstructing a country where more than a decade of conflict left nearly half the population displaced and critical industries in ruins.

Syria’s re-engagement with global financial institutions represents a delicate balancing act for regional and international actors. While Saudi Arabia and Qatar’s financial support signals renewed diplomatic engagement, it also reflects strategic calculations. Officials in Riyadh and Doha are believed to view a stabilised Syria as vital to broader Middle Eastern security and to limiting the influence of rival powers that gained ground during the conflict.

A Gulf-based diplomat with knowledge of the negotiations said that clearing Syria’s World Bank debt was seen as a “foundational gesture” aimed at laying the groundwork for deeper economic cooperation. “There is recognition that Syria’s stability benefits the entire region,” the diplomat explained. “But this assistance is not a blank cheque — it’s tied to expectations around governance, transparency, and economic reform.”

The World Bank, for its part, has been cautiously preparing for Syria’s potential re-entry into development programs. Bank officials underscored that while the clearing of arrears was a necessary procedural step, any future engagement would be closely conditioned on the government’s adherence to principles of accountability and inclusion. A spokesperson for the institution stated that assessment missions would be conducted to evaluate Syria’s institutional capacity and identify priority sectors for assistance, pending board approval.

Economic experts observing the development noted that while $15 million is a small figure compared to the scale of Syria’s reconstruction needs — estimated by some analysts to exceed $400 billion — the symbolic value of the Gulf states’ intervention is considerable. By assuming Syria’s financial obligations, Saudi Arabia and Qatar have effectively opened the door to broader international financial support, including potential aid from bilateral donors and regional development banks.

Syria’s financial rehabilitation comes amid evolving geopolitical dynamics in the Middle East, where Gulf nations have shown a willingness to recalibrate relationships and pursue pragmatic approaches to regional conflicts. Qatar, which once supported opposition groups during the Syrian civil war, has shifted its stance to focus on post-conflict recovery, while Saudi Arabia has sought to spearhead diplomatic normalisation efforts, including Syria’s readmission into the Arab League.

The economic picture within Syria remains dire. Inflation has soared, the Syrian pound continues to depreciate, and essential services such as electricity, healthcare, and education are struggling to function. The United Nations has warned of a worsening humanitarian situation unless economic conditions improve, estimating that over 14 million Syrians require some form of assistance.

President Al-Sharaa’s administration, meanwhile, has signalled a commitment to overhaul outdated regulatory frameworks, encourage foreign investment, and revive critical sectors such as agriculture, manufacturing, and tourism. In a televised address earlier this month, he pledged that Syria would embark on “an era of renewal,” focusing on job creation, infrastructure development, and restoring public trust in state institutions.

International observers caution that much will depend on the government’s ability to implement reforms credibly and transparently. Skepticism persists among some Western governments and humanitarian organisations over the prospects for genuine political and economic liberalisation. Nonetheless, the Gulf states’ financial backing and the World Bank’s procedural readiness mark a notable shift, offering Syria its first tangible pathway to re-entering the global financial system after years of isolation.

Arabian Post Staff -Dubai The United States is preparing to offer Saudi Arabia an arms package exceeding $100 billion, potentially to be announced during President Donald Trump’s upcoming visit to the kingdom in May. This proposal follows a failed attempt by the Biden administration to finalize a defense pact with Riyadh, which included conditions aimed at curtailing Chinese arms acquisitions and investments. Under Trump’s leadership, U.S.-Saudi defense […]

Saudi Arabia is preparing to pay off Syria’s outstanding $15 million debt to the World Bank, a move that could unlock significant international aid for the country’s reconstruction and support its struggling public sector. This initiative marks the first known instance of Saudi financial assistance to Syria since the Islamist-led overthrow of former President Bashar al-Assad in December 2024. The debt repayment is expected to facilitate the […]

The United States and Saudi Arabia are preparing to sign a preliminary agreement to collaborate on the development of a civil nuclear industry in the Kingdom. This marks a significant step in the two countries’ ongoing energy partnership, reflecting shared interests in enhancing the security and sustainability of global energy resources.

US Energy Secretary Chris Wright, addressing reporters in Riyadh, confirmed the impending deal, which is set to open a new chapter in Saudi Arabia’s ambitions to develop its own nuclear energy sector. The announcement comes amid growing global demand for cleaner and more sustainable energy solutions. Wright’s comments emphasised the importance of this agreement in both supporting Saudi Arabia’s long-term energy goals and strengthening the bilateral ties between the two nations.

The move follows Saudi Arabia’s ambitious Vision 2030 initiative, a broad economic reform programme designed to diversify the country’s economy away from its heavy reliance on oil exports. Among its many facets, Vision 2030 aims to establish a robust nuclear energy sector that can generate significant portions of the country’s electricity, reducing its dependence on fossil fuels. This is crucial for the Kingdom as it seeks to address both domestic energy needs and environmental concerns.

Saudi Arabia has made significant strides in recent years towards the development of nuclear energy. In 2018, the country’s nuclear authorities announced plans to construct two nuclear reactors by 2030, as part of a broader strategy to introduce nuclear power as a reliable energy source. These efforts have garnered attention from global nuclear power experts and energy companies, particularly those from the US, Russia, and China, all of which are vying for a role in the development of the Saudi nuclear industry.

The United States’ involvement in this sector is not new. Over the past decade, American firms have been at the forefront of nuclear technology development, exporting their expertise in reactors, fuel production, and regulatory frameworks. Saudi Arabia’s decision to move forward with a preliminary agreement highlights the growing importance of collaboration with nuclear powers like the US to achieve these ambitious goals. Additionally, American support could help ensure that the Kingdom adheres to international nuclear safety standards, a crucial consideration in the nuclear energy field.

The potential partnership between the US and Saudi Arabia is a step forward in strengthening their long-standing relationship, which spans multiple areas including defence, trade, and energy. Saudi Arabia’s energy infrastructure, heavily dependent on oil, has been under increasing pressure to adapt to the changing global energy landscape. As the world moves towards more sustainable energy sources, Saudi Arabia aims to take advantage of nuclear energy’s potential to generate electricity without emitting the high levels of greenhouse gases associated with fossil fuel consumption.

For the United States, the deal also represents a strategic move to expand its influence in the Middle East’s evolving energy market. The US has long maintained strong energy ties with the Kingdom, but this agreement will further cement its role as a key partner in Saudi Arabia’s energy diversification plans. By providing expertise in the nuclear field, the US ensures that it will be a prominent player in shaping the future of Saudi Arabia’s energy sector.

Critics, however, have raised concerns about the environmental impact of nuclear energy, especially with the potential risks associated with radioactive waste disposal and reactor safety. Despite these concerns, both nations appear committed to ensuring that the nuclear technology used in Saudi Arabia meets the highest safety standards. The Kingdom’s regulatory bodies are expected to follow stringent international protocols, a key point of focus in the upcoming agreement.

In the broader context, this agreement comes at a time when nuclear energy is experiencing a resurgence globally, driven by the need for cleaner alternatives to fossil fuels. Countries like China and Russia have been aggressively advancing their own nuclear energy sectors, while nations in Europe and Asia are exploring similar initiatives. With the increasing demand for clean energy, Saudi Arabia’s foray into the nuclear power industry positions it as a potential leader in the region, with the ability to export energy solutions to neighbouring countries.

The US-Saudi nuclear cooperation deal also plays a part in the shifting dynamics of international geopolitics. The Middle East has long been a region of strategic importance, and energy remains a critical element in the geopolitical landscape. By fostering deeper cooperation with Saudi Arabia, the US further solidifies its influence in the region, while also promoting energy security for both countries.

Dubai-based cargo airline SolitAir has secured its Air Operator Certificate from the United Arab Emirates’ General Civil Aviation Authority , marking a significant milestone in its operational expansion. The certification, issued under UAE Civil Aviation Regulations Part V, Chapter 4, authorises SolitAir to operate as a licensed air cargo carrier, following a rigorous evaluation of its operational, safety, and financial standards.

Headquartered at Dubai World Central , SolitAir specialises in middle-mile cargo services, connecting key logistics hubs across the Middle East, South Asia, and Central Asia. The airline’s fleet now comprises three Boeing 737-800 Boeing Converted Freighters —one of which is on a dry lease—and one Boeing 737-400 BCF. This expansion supports operations from its 220,000-square-foot logistics facility at DWC, enhancing its capacity to meet growing regional demand.

The AOC also facilitates SolitAir’s transition from chartered operations to in-house management of its aircraft. Notably, the airline has taken delivery of a 20-year-old Boeing 737-800 BCF, previously operated by carriers including Air India Express and TUI fly Germany. This aircraft, converted to a freighter in 2023, is currently undergoing maintenance in Sofia before entering service under SolitAir’s registry.

SolitAir’s operational strategy includes partnerships with ASL Airlines Ireland, from which it leases two additional Boeing 737-800 BCFs. These aircraft continue to operate under ASL’s ‘5H’ code, reflecting the collaborative nature of SolitAir’s fleet management approach.

The airline has initiated routes to Bangalore, India; Erbil, Iraq; and Riyadh, Saudi Arabia, aligning with its focus on underserved regional markets. Future plans involve expanding services to Africa, the Gulf Cooperation Council countries, the Indian subcontinent, and Central Asian nations, catering to integrators, freight forwarders, express operators, and e-commerce entities.

HONG KONG SAR – Media OutReach Newswire – 6 April 2025 – ​Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to the Middle East from today (April 6) to April 10, with key engagements in Saudi Arabia and the United Arab Emirates (UAE). The visit underscores Hong Kong’s commitment to deepening economic ties with these dynamic markets […]

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