Central banks in the UAE, Saudi Arabia and Bahrain raised their key interest rates by 25 basis points on Wednesday, following the US Federal Reserve's decision to increase its benchmark rate for the first time since 2023 amid renewed inflationary pressures.
BRKZ, a leading Saudi-based technology-enabled building materials procurement platform, has announced that it has secured $31 million in new capital to fuel its next phase of growth, including advancing its AI-powered pricing and fulfillment engine and rolling out embedded financing solutions for its network of contractors and suppliers.
Oil prices held around $108 a barrel on Wednesday, near a four-month high, as markets grappled with mounting concerns over global energy supplies following the shutdown of Saudi Arabia's East-West oil pipeline and continuing attacks on key oil and shipping routes in the Middle East.
Saudi authorities have announced the signing of a key investment contract with Unigaz Arabia for the development of an integrated gas storage, filling and distribution plant coming up on a 200,000-sq-m site in the kingdom's Hail region, said a report.
Saudi Real Estate Company (Al Akaria), has awarded SAR479 million ($126 million) contracts to Mounes Mohamed Alshayeb and Partners for Civil Construction (MOBCO) and Saudi Arabian Parsons to carry out the structural and project management work for the first package of its Porta Jeddah mixed-use development.
Index Saudi Arabia, the country's leading trade show for interiors, furniture and fit-out, kicks off today in Riyadh bringing together some of the top global architects, interior designers and design academics for the 2026 edition, who will explore the kingdom’s evolving design and fit-out landscape.
Saudi technology company Cashin has signed a strategic partnership agreement with the Syrian government to help develop and operate a national digital platform for petroleum derivatives. The platform will integrate operational and financial processes across the petroleum derivatives value chain.
Global engineering and professional services firm WSP has secured the design contract for the development of King Fahd International Airport in Dammam. The project scope includes expansion of passenger terminals, upgrading of facilities and improving airport entrances and access roads.
Saudi-based SAL Logistics Services has signed an agreement with Huawei Tech Investment in a move aimed at boosting collaboration across transportation, logistics, and digital transformation, while exploring opportunities to develop joint solutions and services in the kingdom.
The fourth edition of the Jeddah International Building Exhibition (Jibex) opens this week drawing more than 300 exhibitors from local and international companies representing investment, commercial, and industrial sectors.
