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The defence sector is no longer a niche or cyclical play—it is becoming a structural necessity in investor portfolios. With rising geopolitical tensions and global security realignments, the financial case for defence stocks has never been stronger. The surge in defence equities over the past year suggests a fundamental shift, not just a reaction to short-term events. At the Munich Security Conference last weekend, European leaders signalled […]

stc.AI, the artificial intelligence arm of Saudi Arabia’s leading digital enabler stc Group, has launched a groundbreaking large language model sovereign cloud platform. This move positions the kingdom at the forefront of the AI revolution, marking a key milestone in its ambition to become a global technology hub. The platform is set to run Llama 405B, one of the most advanced AI models in existence, and is […]

Arabian Post Staff -Dubai The United Kingdom’s Court of Appeal has upheld a High Court decision dismissing a $1.2 billion bankruptcy petition against Prince Hussam Bin Saud Bin Abdulaziz Al Saud, a prominent member of the Saudi royal family and governor of Saudi Arabia’s Al-Bahah province. The litigation, initiated by Kuwait’s Mobile Telecommunications Company KSCP , centered on an alleged debt dispute dating back to 2010.MTC sought […]

Saudi Arabia holds the largest portion of the Gulf Cooperation Council’s debt capital market , accounting for 44.8 percent of all outstanding issuances, according to recent data from Fitch Ratings. This makes the kingdom a dominant player within the region’s financial landscape, which has seen substantial growth over the past year. The total value of the GCC’s debt capital market surpassed $1 trillion by the end of […]

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French energy giant EDF has entered a strategic partnership with TAQA Group, a Saudi-based energy company, to push forward innovations in geothermal energy technology. The deal, which also includes power generation and HVAC applications as well as compressed air energy storage, was formalised during the third PIF Private Sector Forum at the King Abdul Aziz International Conference Centre in Riyadh, Saudi Arabia. Omar Aldaweesh, CEO of EDF […]

The Middle East and North Africa region is poised for a strong year of initial public offerings in 2025, with Saudi Arabia set to dominate the market, according to recent analysis. With 27 potential listings on the horizon, Saudi Arabia continues to assert itself as the powerhouse of regional IPO activity. As the world economy begins to stabilize post-pandemic, the Middle East’s capital markets are set to […]

Nokia has teamed up with Advanced Communications & Electronics Systems Company for Neutral Host to introduce a cutting-edge indoor solution in Makkah, aimed at significantly enhancing mobile network coverage across both indoor and outdoor environments. This ambitious project, which comes as part of a long-term partnership, is set to revolutionise connectivity in the region, particularly for the millions of pilgrims who visit the holy city each year.

The partnership is focused on the deployment of an advanced, sharable indoor solution that will address growing demand for seamless communication across Makkah’s densely populated areas. This innovative system will provide robust mobile coverage across key locations, from religious sites to residential and commercial buildings, offering reliable connectivity for pilgrims, residents, and businesses alike.

The project comes at a critical time, as Makkah continues to see a surge in the number of visitors, particularly during religious seasons such as Ramadan and Hajj. With millions of people relying on mobile devices for navigation, communication, and services, the need for a comprehensive network solution has never been greater.

Through this collaboration, Nokia and ACE aim to tackle the issue of network congestion, ensuring that visitors have uninterrupted access to mobile services, even in the busiest locations. This will also provide significant benefits for local enterprises, enabling them to optimise operations and enhance the customer experience through reliable mobile networks.

In addition to improving coverage, the solution will focus on providing enhanced data services and faster network speeds, enabling users to stream, communicate, and access information with ease. By leveraging advanced technologies such as 5G, the new system will future-proof the city’s network infrastructure, making it well-equipped to handle the increasing demand for high-speed internet.

The deployment of this neutral host solution will also enable multiple mobile operators to share the same infrastructure, reducing costs while simultaneously improving service quality. This approach ensures that different networks can benefit from the same high-performance coverage without the need for duplicative infrastructure, contributing to more sustainable and efficient network management.

Both companies are leveraging their expertise to create a solution that not only improves the quality of service but also ensures a long-term, scalable approach to meet future demands. Nokia’s vast experience in mobile network technology, combined with ACE’s in-depth knowledge of the local market and its role as a neutral host provider, positions the partnership as a key player in the ongoing development of Makkah’s network infrastructure.

With this project, Makkah is expected to become one of the most connected cities in the world, setting a new standard for network coverage in religious tourism destinations. The solution is designed to meet the specific needs of the region, including high capacity, low latency, and seamless handovers between indoor and outdoor networks, ensuring that visitors and locals alike benefit from a superior mobile experience.

The implementation of this solution also aligns with broader initiatives in Saudi Arabia to modernise its infrastructure in line with Vision 2030, which aims to diversify the economy and enhance the quality of life for citizens and visitors. As part of this vision, the Saudi government has been investing heavily in digital transformation projects, with a focus on developing smart cities and improving connectivity in key locations like Makkah.

This partnership is expected to drive further collaboration between telecom companies and service providers in the region, fostering innovation and accelerating the adoption of new technologies. It also highlights the growing importance of network connectivity in the modern world, particularly in regions that attract large numbers of visitors and where reliable communication is essential for both safety and convenience.

The advanced indoor solution is just the beginning of what could be a series of initiatives aimed at enhancing connectivity in Makkah and beyond. As mobile data usage continues to increase, both Nokia and ACE are committed to ensuring that the city remains at the forefront of technological innovation, providing the best possible service for all users.

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Saudi Arabia’s Public Investment Fund is intensifying its efforts to diversify the nation’s economy by expanding tourism investments beyond the capital city, Riyadh. This strategic move aligns with the Kingdom’s Vision 2030 objectives, aiming to transform Saudi Arabia into a global tourism hub. In July 2023, PIF established the Saudi Tourism Investment Company, known as Asfar, to spearhead the development of new tourism projects across various cities. […]

Brazil is set to host the BRICS leaders’ summit in Rio de Janeiro on 6th and 7th July 2025, as announced by Foreign Minister Mauro Vieira. This gathering will bring together heads of state from Brazil, Russia, India, China, South Africa, and other partner nations, marking a significant event in international diplomacy. Assuming the rotating presidency of BRICS on 1st January 2025, Brazil has been actively preparing […]

Silicon Valley-based AI chip manufacturer Groq has secured a $1.5 billion investment from Saudi Arabia to enhance its AI inference infrastructure within the Kingdom. This significant commitment, announced at the LEAP 2025 technology conference, underscores Saudi Arabia’s strategic push to position itself as a global leader in artificial intelligence. Groq, founded by former Alphabet engineer Jonathan Ross, specializes in AI inference chips designed to optimize the speed […]

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Etihad Salam Telecom Company has announced a strategic partnership with Genesys to revolutionise customer service across Saudi Arabia. This collaboration aims to integrate advanced technologies into Etihad Salam’s offerings, enhancing both customer interactions and operational efficiency.

The partnership focuses on implementing a comprehensive telecommunications solution that combines advanced Session Initiation Protocol trunk services with sophisticated call centre platforms. By leveraging artificial intelligence, automation, and cloud-based technologies, the initiative seeks to transform traditional customer service models, providing more personalised and efficient experiences.

Eng. Amjad Arab, Chief Wholesale and Partnerships Officer at Etihad Salam, highlighted the significance of this alliance: “Our mission is to provide robust, innovative solutions that support the rapid expansion of digital content and seamless technology experiences. Collaborating with Genesys allows us to offer enriched connectivity services and bring content closer to end-users, ultimately empowering businesses to thrive in an increasingly digital landscape.”

This development comes at a time when Saudi Arabia’s information and communication technology sector is experiencing substantial growth. Projections indicate that the sector will reach a valuation of USD 82.51 billion by 2030. The partnership between Etihad Salam and Genesys is poised to contribute significantly to this growth by introducing cutting-edge customer service solutions that align with the Kingdom’s digital transformation goals.

In addition to this collaboration, Etihad Salam has been actively engaging in other strategic partnerships to bolster the nation’s digital infrastructure. Recently, the company strengthened its alliance with center3, a subsidiary of the stc Group, to enhance network resilience and connectivity. This joint effort aims to deliver unparalleled digital infrastructure, benefiting businesses, cloud providers, and content creators alike.

Etihad Salam has partnered with ServiceNow to support the burgeoning small and medium-sized enterprise sector in Saudi Arabia. With the SME sector witnessing a 60% year-on-year growth and over 135,000 new registrations in the last quarter, this collaboration aims to provide tailored solutions that address the unique needs of these businesses. By combining Etihad Salam’s connectivity and managed services with ServiceNow’s expertise in automating administrative processes, the partnership seeks to facilitate agile business setups and operations.

Tencent Cloud has unveiled plans to launch its inaugural Middle East Cloud Region in Saudi Arabia, marking a pivotal expansion in the company’s global infrastructure. Announced at the LEAP 2025 technology summit in Riyadh, the new cloud region will encompass two availability zones, each designed with full redundancy to ensure robust and reliable services. This development is slated to become operational by 2025, aligning with Saudi Arabia’s ambitious Vision 2030 objectives to foster digital transformation and economic diversification.

The strategic move includes an investment exceeding $150 million over the forthcoming years, underscoring Tencent Cloud’s commitment to bolstering the Kingdom’s burgeoning digital economy. Dan Hu, Vice President of Tencent Cloud International for the Middle East and North Africa, emphasized the significance of this initiative, stating, “We’re excited to have grown alongside the Kingdom of Saudi Arabia and look forward to ramping up cloud support for the Middle East. The new Cloud Region strengthens our ability to support the country’s digital transformation journey.”

This expansion will integrate Saudi Arabia into Tencent Cloud’s extensive global network, which currently comprises over 50 availability zones across 21 regions. The new infrastructure is poised to deliver a comprehensive suite of advanced cloud services, including artificial intelligence capabilities, data analytics, and digital media solutions. These offerings are tailored to meet the diverse needs of industries such as finance, gaming, media, and e-commerce within the region.

Saudi Arabia’s cloud computing market is experiencing rapid growth, driven by the government’s proactive digital initiatives and the private sector’s increasing adoption of cloud technologies. Projections indicate that annual spending on public cloud services in the Kingdom is expected to reach $2.5 billion by 2026, reflecting a compound annual growth rate of 25%. This surge is attributed to the nation’s focus on emerging technologies, including AI, cloud computing, and the Internet of Things , as integral components of its Vision 2030 plan.

The LEAP 2025 summit, where Tencent Cloud’s announcement was made, has emerged as a significant platform for technological collaboration and investment in Saudi Arabia. The event witnessed the Kingdom securing $14.9 billion in new investments aimed at advancing its digital infrastructure and AI capabilities. Notably, global cloud service providers are increasingly recognizing the potential of the Saudi market. For instance, Amazon Web Services has partnered with stc Group to accelerate cloud adoption and AI-driven innovation across various sectors, including healthcare, finance, and education.

Tencent Cloud’s entry into the Middle East market is anticipated to intensify competition among cloud service providers, offering businesses in the region a broader array of options to enhance their digital operations. The establishment of local data centers is particularly advantageous, as it addresses data residency requirements and reduces latency, thereby improving the performance of cloud-based applications and services.

In addition to infrastructure development, Tencent Cloud is expected to collaborate with local enterprises and governmental bodies to provide training and support, fostering a skilled workforce adept in cloud technologies. This initiative aligns with Saudi Arabia’s broader goals of nurturing innovation and entrepreneurship, ultimately contributing to a diversified and knowledge-based economy.

The Middle East’s strategic importance in the global technology landscape is increasingly evident, with countries like Saudi Arabia investing heavily in digital transformation. Tencent Cloud’s expansion into the region not only signifies confidence in the local market’s potential but also reinforces the Kingdom’s position as a burgeoning hub for technological advancement and innovation.

As the cloud computing landscape in Saudi Arabia continues to evolve, the presence of global players like Tencent Cloud is poised to accelerate the adoption of cutting-edge technologies. This development is expected to drive economic growth, enhance competitiveness, and pave the way for new business models and opportunities within the region.

Arabian Post Staff Etihad Salam Telecommunications Company, a prominent player in Saudi Arabia’s telecommunications and IT sector, has entered into a Memorandum of Understanding with Advanced Communications & Electronics Systems Company for Neutral Host . This strategic partnership aims to enhance connectivity and telecommunication services for government and corporate sectors in Riyadh, leveraging ACES’s Fiber to the Home infrastructure. A significant milestone of this collaboration is the […]

Etihad Salam Telecom Company has entered into a strategic partnership with Genesys, aiming to revolutionise customer experience across Saudi Arabia. This collaboration seeks to integrate advanced technologies into Etihad Salam’s service offerings, enhancing customer interactions and operational efficiency.

The partnership focuses on leveraging Genesys’s expertise in cloud and artificial intelligence solutions to transform Etihad Salam’s customer service platforms. By adopting these technologies, Etihad Salam aims to provide more personalised and efficient services, aligning with the Kingdom’s Vision 2030 objectives of digital transformation and improved quality of life.

Eng. Amjad Arab, Chief Wholesale and Partnerships Officer at Etihad Salam Telecom Company, emphasised the significance of this alliance: “Our mission is to provide robust, innovative solutions that support the rapid expansion of digital content and seamless technology experiences. We are excited to work together to offer enriched connectivity services and bring content closer to end-users, ultimately empowering businesses to thrive in an increasingly digital landscape.”

This partnership is part of a series of strategic initiatives by Etihad Salam to enhance its service offerings and infrastructure. In collaboration with center3, a subsidiary of stc Group, Etihad Salam is working to bolster Saudi Arabia’s digital infrastructure. This joint effort aims to improve network resilience, enhance connectivity, and provide scalable solutions, thereby enriching the digital ecosystem and supporting the nation’s burgeoning ICT sector, projected to reach USD 82.51 billion by 2030.

The Etihad Salam-center3 partnership focuses on three critical areas: expanding network reach and reliability through shared connectivity services; utilising center3’s carrier-neutral data centres to enhance enterprise solutions; and integrating Etihad Salam’s extensive network with center3’s internet exchanges. This comprehensive approach is designed to accelerate innovation in cloud data management and internet connectivity, providing businesses with the tools needed to thrive in a digital-first world.

In another strategic move, Etihad Salam has partnered with ServiceNow to support the growth of small and medium-sized enterprises in Saudi Arabia. This collaboration aims to offer tailored solutions that address the unique needs of SMEs, facilitating agile business setups and streamlined operations. By combining Etihad Salam’s connectivity and managed services with ServiceNow’s expertise in automating HR, administrative, and management processes, the partnership seeks to provide SMEs with comprehensive tools to navigate the complexities of the digital age.

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Saudi Arabia has solidified its position among the world’s top ten battery energy storage markets, marked by the commissioning of the 500 MW/2,000 MWh Bisha Battery Energy Storage System in the southwestern province of ‘Asir. This facility stands as one of the largest energy storage projects in the Middle East and Africa. The Bisha BESS, owned by Saudi Electric Company , comprises 122 prefabricated storage units designed […]

ROSHN Group, Saudi Arabia’s prominent multi-asset real estate developer and a Public Investment Fund company, has finalized a SAR 2 billion Shariah-compliant credit facility with Saudi National Bank . This seven-year financing arrangement is designated for the acquisition of ROSHN Front, a premier commercial and retail complex in Riyadh.

The strategic acquisition of ROSHN Front signifies ROSHN Group’s deliberate expansion into the commercial and retail sectors, complementing its existing residential projects. Opened in 2019, ROSHN Front has become a central hub for both shoppers and businesses, drawing over 7 million visitors annually. The development comprises two main sections: ROSHN Front—Retail, offering more than 81,800 square meters of leasable space occupied by leading retail and dining brands; and ROSHN Front—Business, providing over 78,900 square meters of office space housing esteemed government agencies, private enterprises, and multinational corporations.

Avinash Pangarkar, Group Chief Finance Officer of ROSHN Group, emphasized the importance of this financial partnership, stating that the agreement with Saudi National Bank is a pivotal milestone for ROSHN Group, enabling the unlocking of significant value from the acquisition and creating long-term benefits for stakeholders and the communities served.

The integration of ROSHN Front into ROSHN’s portfolio is poised to enhance the retail and commercial landscape of the area, elevate tenant experiences, and attract top-tier brands and businesses. This move aligns with ROSHN’s broader mission to develop integrated, human-centric communities that enrich the quality of life across the Kingdom.

The acquisition of ROSHN Front, formerly known as Riyadh Front, was initially announced in December 2022, with the rebranding to ROSHN Front occurring in September 2023. The complex is strategically located adjacent to ROSHN’s flagship SEDRA project in Riyadh, facilitating potential synergies between the developments. SEDRA is envisioned to house approximately 30,000 new homes upon completion, and the proximity to ROSHN Front is expected to provide residents with enhanced access to amenities, exclusive promotions, and diverse retail and commercial options.

The financing agreement with SNB not only underscores ROSHN’s commitment to expanding its footprint in the Kingdom’s real estate sector but also reflects the confidence of financial institutions in ROSHN’s strategic vision and operational capabilities. As a PIF-backed entity, ROSHN continues to play a vital role in advancing Saudi Arabia’s Vision 2030 objectives by developing sustainable and vibrant communities that cater to the evolving needs of its populace.

A significant assembly of finance ministers and central bank governors from emerging markets is set to commence on February 16, 2025, in Al-Ula, Saudi Arabia. This high-level conference, jointly organized by the International Monetary Fund and the Kingdom of Saudi Arabia, aims to address the multifaceted challenges confronting emerging market and developing economies in the current global landscape. The gathering occurs against a backdrop of escalating trade […]

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The Environmental, Social, and Governance sukuk market has achieved a significant milestone, with its outstanding value exceeding $50 billion by the end of 2024. This growth underscores the increasing integration of ethical and sustainable principles within Islamic finance. Data from the London Stock Exchange Group indicates that ESG sukuk issuances reached $15.2 billion in 2024, marking a 14.5% annual growth. This represents the eighth consecutive year of […]

Saudi Arabia’s Crown Prince Mohammed bin Salman has assumed a pivotal role in shaping the international landscape under U.S. President Donald Trump’s administration. As traditional diplomatic norms give way to a more transactional approach, the Crown Prince’s influence is increasingly evident in critical geopolitical arenas, notably the Middle East and Eastern Europe.

In the Middle East, Saudi Arabia is leading an urgent Arab initiative to counter President Trump’s contentious proposal for Gaza. The U.S. plan suggests relocating Palestinians to neighboring countries, a move that has been met with widespread rejection from regional stakeholders. In response, Saudi Arabia, in collaboration with Egypt, Jordan, and the United Arab Emirates, is formulating an alternative strategy. This plan emphasizes the establishment of a Gulf-funded reconstruction program and the marginalization of Hamas, aiming to stabilize Gaza while preserving Palestinian national aspirations. A summit in Riyadh is scheduled to further deliberate on these proposals, underscoring Saudi Arabia’s commitment to regional stability and its willingness to challenge U.S. policies when they conflict with Arab interests.

Beyond the Middle East, Crown Prince Mohammed bin Salman is extending his diplomatic reach to address the ongoing conflict in Ukraine. The Trump administration has announced potential peace talks with Russian officials, a move that has elicited mixed reactions from the international community. European leaders have expressed concerns that this approach may inadvertently legitimize Russian aggression. Amid these tensions, Saudi Arabia has offered to host summit talks in Riyadh, positioning itself as a neutral ground for dialogue. This initiative not only highlights the Crown Prince’s ambition to elevate Saudi Arabia’s global diplomatic profile but also reflects a strategic alignment with President Trump’s unconventional foreign policy methods.

Saudi Arabia has reported a fiscal deficit of 115.625 billion riyals for 2024, driven by a 6% increase in total spending compared to the previous year, as per data from the Ministry of Finance. This rise in expenditure aligns with the kingdom’s commitment to its Vision 2030 economic transformation strategy, which aims to diversify the economy beyond oil dependence.

The government’s initial projection for the 2024 deficit was 79 billion riyals, approximately 1.9% of GDP. However, updated estimates have revised this figure to 115 billion riyals, around 3% of GDP. In the first nine months leading up to September 30, the deficit stood at 58 billion riyals, with more than half of this amount recorded in the third quarter alone.

Total government revenues for 2024 reached 1.26 trillion riyals , marking a 4% increase from the previous year and exceeding initial budget estimates by 7%. Notably, non-oil revenues have shown significant growth, contributing to the overall revenue increase.

The Vision 2030 initiative encompasses several large-scale projects, including the NEOM megacity, the Red Sea Project, and Qiddiya, all designed to stimulate economic diversification and reduce reliance on oil revenues. These projects require substantial upfront investments, contributing to the current fiscal deficit. The government has emphasized that this “deficit by design” is a strategic move to foster long-term economic growth and sustainability.

Despite the widening deficit, Saudi Arabia’s non-oil sector has demonstrated resilience. Since 2017, non-oil economic growth has consistently ranged between 4% and 5%, indicating progress in the kingdom’s diversification efforts. The government remains optimistic that continued investment in Vision 2030 projects will yield significant economic benefits in the coming years.

However, the ambitious nature of these projects has raised concerns about financial feasibility. Some initiatives, such as the NEOM megacity, have faced challenges related to budget overruns and delays. Analysts suggest that the kingdom may need to reassess certain projects to ensure fiscal sustainability.

In response to these challenges, Saudi Arabia is adjusting its investment strategies. The Public Investment Fund plans to reduce its foreign investment portfolio from 30% to 18%, redirecting focus toward domestic projects that align with Vision 2030 objectives. This shift aims to bolster local economic development and maximize the impact of government spending.

Starbucks has unveiled an ambitious plan to significantly increase its presence in the Middle East by opening approximately 500 new stores over the next five years. This expansion is expected to create around 5,000 jobs in the region, underscoring the company’s commitment to growth in this market. Chief Executive Officer Brian Niccol emphasized the strategic importance of this move, stating that the Middle East offers substantial opportunities […]

The 2024 Formula 1 Etihad Airways Abu Dhabi Grand Prix significantly boosted the local economy, with international visitor spending in Abu Dhabi increasing by 34% compared to the same week in 2023, according to Visa’s latest Travel Pulse report. During the event, 133,000 Visa cardholders from 178 countries made in-person transactions in the city, marking a 9% rise in visitors and a 29% uptick in transactions.

Visitors from the United States led in spending, accounting for 14% of the total, with an average spend per card of $285, which is 29% higher than the overall average for the event. Other top-spending nationalities included Kazakhstan , the United Kingdom , Saudi Arabia , and Oman .

The Grand Prix’s economic impact extended beyond Abu Dhabi, as 62% of these visitors also spent in other emirates, particularly Dubai and Sharjah. Additionally, 4% of non-GCC visitors continued their journeys to other GCC countries during or after the event, highlighting the boost to regional tourism.

In Abu Dhabi, spending on travel services experienced the largest growth, rising by 68% and representing 18% of the total spend during the F1 weekend. Dining expenditures also saw a notable increase, up 53%, accounting for 19% of the total spend in the emirate. Retail spending grew by 17%, contributing 14% to Abu Dhabi’s overall spend.

Across the UAE, travel services saw an 18% increase, making up 9% of the total spend. Dining spend rose 27%, contributing 8% to the total spend across the nation. Retail spending witnessed an impressive 83% surge, accounting for 27% of the total spend across the UAE during the F1 weekend.

As the allure of train travel experiences a resurgence, 2025 presents an array of exceptional rail journeys that promise both luxury and adventure. From traversing Europe’s scenic landscapes to exploring the vast deserts of the Middle East, these routes offer unparalleled experiences for discerning travellers. The Orient Express La Dolce Vita is set to commence its inaugural journeys across Italy in April 2025. Travellers can anticipate itineraries […]

The Saudi Export-Import Bank and the International Islamic Trade Finance Corporation have formalized a $5 million financing agreement with Alizz Islamic Bank in Oman. This initiative is part of the KSA SMEs Export Empowerment Program, aiming to facilitate Saudi non-oil exports’ entry into Omani markets and enhance export opportunities for the Kingdom’s small and medium-sized enterprises . The agreement was signed by Mohammed AlAbdulmohsen, Director of the […]

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