BlackRock has joined forces with Saudi wealth fund PIF to launch new mutual funds across asset classes focused on Saudi systematic active equities and Mena fixed income at the ongoing Future Investment Initiative (FII9) event in Riyadh.
The Saudi Modon has signed five new industrial contracts in the critical medical and pharma industries in bid to localise vital supply chains. For these projects, 46,500 sq m of industrial land has been allocated in Jeddah, Sudair City and Dammam.
Amid a rapidly shifting global landscape defined by geopolitical uncertainty, climate change and tech disruption, Generative AI and innovation-led 'Engine 2' business models are emerging as major drivers of resilience across the region, says a new study.
Abunayyan Holding, a major player in the Saudi utility sector, has joined hands with NEXTracker, a leading provider of intelligent solar tracker solutions, to set up a new venture, Nextracker Arabia, aimed at accelerating energy transition in the Mena region.
Merak Capital, a Saudi-based investment firm focused on opportunities across multiple industries, has announced a SAR100 million ($26.7 million) strategic investment in Arsann, the kingdom’s leading operator of smart parking and mobility infrastructure.
The Saudi Tourism Authority (STA) concluded its promotional tour across Oman, Qatar, Bahrain, and the UAE. The tour was executed in cooperation with a select group of partners from the Saudi tourism private sector.
Global law firm Reed Smith has announced that it has opened its office in Riyadh from where it will kick off its Saudi operations. The new office builds on its long-standing presence in the Middle East, having opened its Abu Dhabi office in 1978.
The Saudi Arabia Ministry of Tourism inaugurated its new offices in Makkah and Madinah regions as part of its strategic initiative to enhance the efficiency of services within the tourism sector.
Aramco Digital, the technology subsidiary of Saudi oil giant Aramco, is set to launch the kingdom’s national industrial communications network operating in the 450 MHz band. It will support sectors that need continuous operations and dependable communications for critical assets and facilities.
Cement sales volumes across the Kingdom of Saudi Arabia fell in December on both an annual and monthly basis, reflecting softer demand at year-end, although full-year volumes still posted strong growth driven by gains from leading producers, said a report.
