Saudi Basic Industries Corporation (Sabic) reported revenue of SAR 24.81 billion ($6.62 billion) for the second quarter of 2026, down 5 per cent compared with the previous quarter, as the company navigated geopolitical uncertainties, supply disruptions and elevated energy costs.
DP World has started operations at its first multi-client 3PL warehouse in Saudi Arabia, expanding integrated warehousing and distribution capacity for businesses serving the kingdom's consumer and industrial sectors. Located in Riyadh, the 15,250 sq-m facility provides over 17,000 pallet positions.
Saudi Arabia's National Shipping Company (Bahri) has reported a more than six-fold increase in Q2 net profit which hit SAR2.75 billion ($733 million), while its revenue soared to SAR6.3 billion ($1.6 billion), helped by higher freight rates and stronger demand for its crude oil shipping business.
Mammoet, a global leader in engineered heavy lift and transport sector, has expanded its fleet in Saudi Arabia with the deployment of seven Mercedes-Benz trucks, 60 Goldhofer conventional axle lines, Azobé crane mats and all-terrain and crawler cranes as part of a major investment in the kingdom.
Saudia and Air India have signed a strategic MoU to expand their partnership, enhancing connectivity between Saudi Arabia and India through broader codeshare cooperation, network integration, operational collaboration and potential expansion to affiliate carriers.
Oil prices extended their sharp decline in early Asian trading on Tuesday as markets welcomed a fourth consecutive night without military strikes between the United States and Iran, easing immediate fears of a wider disruption to Middle East energy supplies.
Saudi Water Authority will launch local production of energy recovery devices in 2027, establishing the world’s first facility outside the US to manufacture the desalination technology, boosting supply security and supporting exports.
Saudi Arabia's General Authority of Civil Aviation (GACA) has granted Universal Aviation a licence to provide ground handling services at the private aviation terminal at King Fahd International Airport in Dammam, marking the company's entry into the Kingdom.
Acciona Cultura has completed Riyadh Air’s 2,000 sq m Hafawa Lounge at King Khalid International Airport, delivering a premium, technology-driven passenger experience and marking a milestone in the launch of Saudi Arabia’s new national airline.
The Kingdom of Saudi Arabia needs to move beyond defence assembly and develop domestic aerospace and defence engineering capabilities to capture more value from its spending, in line with its Vision 2030 target of localising 50% of defence spending within four years, said an expert.
