Saudi

Saudi Arabia on Verge of Sending First Delegate to Miss Universe

Saudi Arabia is on the cusp of a historic first: sending a delegate to compete in the Miss Universe pageant. This potential milestone comes amid the kingdom’s ongoing social reforms, which have loosened restrictions on women’s rights in recent years. The possibility of Saudi Arabian participation gained momentum in late March when model Rumy al-Qahtani announced on social media her alleged selection as the country’s representative. While […]

April 27

World Football Federation Secures Sponsorship From Saudi Oil Giant

In a move that strengthens coffers but raises eyebrows, FIFA, the international governing body of football, announced a major sponsorship deal with Saudi Arabian oil company Aramco. The multi-year agreement, finalized on April 25th, 2024, grants Aramco exclusive sponsorship rights within the energy category for upcoming FIFA tournaments. This includes the highly anticipated FIFA World Cup 2026, co-hosted by the United States, Canada, and Mexico, and the […]

April 26

Saudi Arabia Forges Telecom Tower Titan

Saudi Arabia is poised to become a regional leader in telecommunications infrastructure with the announcement of a major collaboration between the Public Investment Fund (PIF) and the Saudi Telecommunications Company (STC). The partnership aims to establish the Middle East’s biggest telecom tower company, boasting an extensive network and promising significant economic benefits. Through this strategic alliance, PIF will acquire a controlling stake in TAWAL, STC’s existing tower […]

April 23

Saudi Arabia Pushes for Domestic Car Production

Saudi Arabia is hitting the gas pedal on its automotive industry, aiming to become a regional hub for car manufacturing, according to a senior official. Aftab Ahmed, a National Center for Industrial Development (NCID) advisor specializing in the automotive sector, highlighted the government’s commitment to this goal during a recent Saudi-American Business Council seminar. This focus on domestic production aligns with Saudi Arabia’s ambitious Vision 2030 plan, […]

April 22

Saudi Central Bank Chief Urges Caution as Global Economy Faces Headwinds

The head of Saudi Arabia’s central bank, Ayman Al-Sayari, issued a warning about potential economic pitfalls during a recent meeting. Al-Sayari, the Governor of the Saudi Arabian Monetary Agency (SAMA), spoke at the International Monetary and Financial Committee (IMFC) Plenary session held during the 2024 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF). His remarks focused on the need for continued vigilance […]

April 22

Electric Vehicle Production to Spark in Egypt as Saudi Company Joins Forces

Saudi Arabia’s WAJA Co., a diversified conglomerate, has set its sights on the burgeoning electric vehicle (EV) market through a newly formed joint venture in Egypt. The agreement, signed with the Arab Organization for Industrialization (AOI), a prominent Egyptian military organization, paves the way for the establishment of a production facility dedicated to EVs. This venture signifies a strategic move for both entities, aiming to not only […]

April 21

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Petrochemical Storm Clouds Gather Over Saudi Arabia

The Saudi Arabian petrochemical industry, a linchpin of the kingdom’s economic diversification plans, is confronting a confluence of headwinds in 2024. A sluggish global economy, coupled with a projected growth rate of less than 2%, is dampening demand for petrochemical products. This bleak outlook comes at a time when Saudi Arabia has aggressively expanded its production capacity, aiming to become a major force in the global market. […]

April 19

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Saudi Petrochemical Industry Faces Headwinds in 2024

Riyad Capital, a leading Saudi Arabian investment firm, has cast a cautious outlook on the country’s petrochemical sector for the first half of 2024. Their Q1 2024 equity preview report predicts a challenging period for these companies, marked by sluggish demand and potential restructuring efforts. The report highlights persistent weak demand as a primary concern. While hopes for a broader economic recovery exist, the immediate future appears […]

April 17

Saudi Driller Set for Expansion in Qatar with $93.3 Million Jack-Up Rig Contract

Saudi Arabia’s ADES, a prominent drilling services firm, has secured a significant contract worth $93.3 million to operate a jack-up rig in Qatar. The agreement, awarded by French energy giant TotalEnergies, marks a strategic move for ADES, solidifying its presence in the Qatari oil and gas market. The contract, detailed in a statement to the Saudi Stock Exchange (Tadawul), includes a mandatory operational period with an optional […]

April 14

Powering Up for Reality: First-Ever Dragon Ball Theme Park Coming to Saudi Arabia

Calling all Saiyans, Earthlings, and Namekians! The world of Dragon Ball is about to transcend animation and become an immersive reality. Qiddiya, a mega-entertainment project in Saudi Arabia, has announced its collaboration with Toei Animation to create the world’s first Dragon Ball theme park. Spanning over a massive 500,000 square meters, the park promises to be a meticulously crafted homage to Akira Toriyama’s legendary creation. Visitors can […]

April 08

Kingdom of Construction: Saudi Arabia’s Building Boom

Saudi Arabia is witnessing a monumental surge in construction activity, driven by the nation’s ambitious Vision 2030 plan. This economic diversification strategy aims to lessen the country’s reliance on oil and propel it towards a knowledge-based economy. The most prominent manifestation of this transformation is the flourishing construction sector, teeming with projects like NEOM, a futuristic mega-city, and the Red Sea Project, a luxurious tourism destination. This […]

April 08

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Saudi Arabia Scales Back Ambitious Neom Project

Arabian Post Special Neom, a futuristic city project envisioned as a centerpiece of Saudi Arabia’s plan to diversify its economy, has undergone a significant revision. Originally planned to house 1.5 million residents in a high-tech zone called “The Line”, officials now expect a more modest population of 300,000 by 2030. The Line itself, initially designed to stretch for 170 kilometers along the coast, will only see a […]

April 06

$100 Billion Saudi Foreign Investment Quest Faces Challenges

Arabian Post Special Crown Prince Mohammed bin Salman’s ambitious Vision 2030 plan for Saudi Arabia aspires to transform the kingdom from an oil-reliant state into a diversified, technology-driven economy. A key pillar of this strategy is attracting significant foreign direct investment (FDI). However, the recent saga surrounding Lucid Motors, a California-based electric car company heavily funded by Saudi Arabia’s Public Investment Fund (PIF), casts a shadow on […]

April 04

Miss Universe Clarifies Saudi Arabian Participation

The Miss Universe organization has definitively addressed recent speculation regarding Saudi Arabia’s potential participation in the 2024 pageant. In a statement released online, the organization refuted claims of a confirmed contestant from the kingdom, calling them “false and misleading.” “We would like to categorically state that no selection process has been conducted in Saudi Arabia,” the statement reads. This clarification comes after reports circulated suggesting the nation […]

April 03

UAE Golden Gambit to Counter Saudi Bid for Business Leadership

Arabian Post Special The United Arab Emirates’ (UAE) proposed introduction of 10-year “golden licenses” for businesses is a strategic move amidst a heating up competition with Saudi Arabia to become the preeminent business hub in the Middle East. While the UAE has long enjoyed a reputation for attracting foreign investment, the recent reforms undertaken by its ambitious neighbor necessitate a proactive response. The context for this competition […]

March 29

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A Tightrope Saudi Walk Towards Net-Zero

Arabian Post Special The Kingdom of Saudi Arabia, a nation synonymous with oil, has made a bold move towards environmental sustainability with the launch of its Green Finance Framework. This initiative aims to mobilize investments to propel the country towards its ambitious target of achieving net-zero emissions by 2060. However, this path is fraught with challenges as the nation grapples with the inherent conflict between its dependence […]

March 29

Saudi Arabia Unveils Green Financing Tool to Achieve Net-Zero Goals

In a significant move towards environmental sustainability, Saudi Arabia has launched the Green Finance Framework, a financial mechanism designed to propel the nation towards its ambitious target of achieving net-zero emissions by 2060. Established by the Ministry of Finance, the framework aims to channel investments into climate-friendly initiatives and projects that align with the principles of a circular carbon economy. The announcement comes after Saudi Arabia’s commitment […]

March 29

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A Saudi coffee partnership aims to flavour global markets

Arabian Post Special Alghanim Industries, the region’s leading Costa Coffee franchisee, has joined forces with the Saudi Coffee Company, a subsidiary of the Public Investment Fund, in a strategic partnership to elevate Saudi Arabia’s coffee culture globally. This collaboration coincides with the opening of Alghanim’s 100th Costa Coffee store in the Kingdom, signifying a shared dedication to promoting coffee appreciation worldwide. The partnership will showcase Jazean, a […]

March 26

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Saudi Aramco Seeks Broader Alliance with China

Saudi Arabian oil giant Saudi Aramco is signaling its ambition for a more comprehensive partnership with China, moving beyond a traditional supplier-customer relationship. Amin Nasser, CEO of Aramco, expressed this intent during a recent development forum in Beijing. Nasser emphasized China’s growing significance and outlined a desire for collaboration spanning multiple sectors. While energy remains a core focus, Aramco is eager to extend its engagement with China […]

March 25

Saudi Hospitality Sector Prioritizes Safety for Upcoming Religious Seasons

The Saudi Ministry of Tourism has issued a directive to hospitality establishments in Makkah and Madinah, emphasizing the importance of adhering to safety protocols set forth by the General Directorate of Civil Defense. This move prioritizes the well-being of visitors, Umrah performers, and pilgrims during the upcoming Ramadan and Hajj seasons. The Ministry’s circular highlights the need for hotels, guesthouses, and other lodging facilities to strictly follow […]

March 23

Saudi Arabia Unveils Vision for a High-Tech Future

Saudi Arabia is poised for a metamorphosis. Long known for its oil reserves and conservative traditions, the kingdom is now setting its sights on a future gleaming with innovation and futuristic megacities. This ambitious vision, spearheaded by Crown Prince Mohammed bin Salman’s “Vision 2030” plan, aims to diversify the economy, attract foreign investment, and position the country as a regional leader in technology and sustainability. The centerpiece […]

March 21

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Stepping into History: Saudi Arabia Launches Virtual Realm for Cultural Exploration

Saudi Arabia has taken a pioneering step into the metaverse, launching an innovative platform called “Cultural Universe” that allows users to embark on an immersive journey through the Kingdom’s rich heritage. Developed by the Ministry of Culture, this groundbreaking initiative leverages the latest virtual reality technology to offer a captivating and interactive experience for a global audience. Cultural Universe transports visitors on a virtual expedition across the […]

March 18

Eye on the Capture: Saudi Arabia Poised for Lead in Carbon Tech

The International Energy Forum (IEF) has positioned Saudi Arabia as a potential frontrunner in carbon capture technology, citing the country’s significant investments and upcoming projects. The IEF’s report highlights Saudi Arabia’s ambition to become a global leader in Carbon Capture, Utilization, and Storage (CCUS) by 2027, fueled by the launch of the world’s largest carbon capture hub on the east coast. This ambitious target stems from a […]

March 17

Saudi Banks Fuel Economic Shift with Historic Bond Issuance

Saudi Arabian banks are on track to break new ground in debt issuance to fund the country’s ambitious economic diversification plans. Analysts at Bloomberg Intelligence predict lenders will need to raise at least $11.5 billion through local and international bonds. This record-breaking borrowing spree is critical for financing Vision 2030, a strategic roadmap to transform Saudi Arabia from an oil-dependent economy into a diversified powerhouse. The impetus […]

March 16

Saudi Arabia Seeks US Investment in Booming Healthcare Sector

The Saudi Food and Drug Authority (SFDA) is extending an olive branch to American healthcare companies, signaling a potential surge in foreign investment within the Kingdom’s flourishing medical field. Dr. Hisham bin Saad Aljadhey, the CEO of SFDA, recently convened with representatives from various US firms specializing in pharmaceuticals, medical devices, and food safety technologies. These meetings, strategically held on the sidelines of the International Medical Device […]

March 15

Saudi Arabia Cautions Donors on Unauthorized Charities

Saudi Arabian authorities have issued a warning regarding unauthorized charities soliciting donations. The Ministry of Interior emphasized that the King Salman Humanitarian Aid and Relief Center (KSrelief) remains the sole legitimate entity authorized to receive and distribute charitable contributions abroad. This directive aims to safeguard the integrity of charitable work and ensure responsible donation practices within the kingdom. The Ministry’s statement, released on March 14, 2024, cited […]

March 14

Singapore’s BIGO Sets Sights on Half-Billion Dollar Saudi Investment

Singapore-based livestreaming platform BIGO is making a major play for the Saudi Arabian market, aiming to invest a staggering $500 million over the next five years. This ambitious plan was announced at the LEAP 2024 tech conference in Riyadh, underscoring BIGO’s commitment to capturing a slice of the burgeoning Saudi entertainment sector. The investment will reportedly encompass the creation of 500 new jobs in the Kingdom. This […]

March 13

Kingdom Rising: Saudi Arabia Unveils Vision for a High-Tech Future

March 13