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PIF buys key stake in Saudi building materials company
Saudi sovereign wealth fund PIF said it has acquired a 30% stake in Masdar, a leading local firm specialising in the trading of building materials. This strategic investment will help the company expand its operations and also build new partnerships.
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Damiani joins Panerai to open new luxury outlet in Madrid
The Damiani Group, a leading player in the luxury sector, has announced the opening of its new outlet in the heart of Spanish capital Madrid in partnership with renowned Swiss manufacturer of high-end watches Panerai.
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German group to build big heat exchanger facility in Dubai
German technology group Allied Heat Exchange (A-HEAT) has announced plans to develop the largest heat exchanger production facility in GCC. Spanning 1.2 million sq ft, the built-to-suit facility will be located within DP World’s flagship free zone Jafza.
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Saudi Arabia unveils $1 trillion infrastructure investment plan
Saudi non-oil sector is poised for substantial growth over the next two years driven by the expansion of prime industries, said its economy minister, adding infrastructure investments in the kingdom too is expected to surge hitting $1 trillion by 2030.
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Majority plan more vacations this year, finds survey
The travel market is set to grow in 2025 with 84% of people participating in a survey planning to go on the same amount or more holidays this year, compared to 2024.
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Global firms setting up Saudi HQ doubles to 600; nets $320bn FDI
Saudi Arabia has announced tremendous response from global companies in joining the kingdom's growth story with nearly 600 firms set to open their headquarters within the country, thus taking its total investments to SAR1.2 trillion ($320 billion).
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Saudi's flynas to take delivery of over 100 Airbus planes by 2030
Saudi budget carrier flynas is likely to receive more than 100 Airbus planes over the next five years, as part of its broader deal for 280 Airbus jets, said a top official. The airline aims to operate 160 aircraft by 2030 in bid to meet growth targets.
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LEAP25 ends on a successful note; nets $15bn in key investments
LEAP25, the region's premier technology event, concluded on a successful note emerging as a global hub for investments in artificial intelligence (AI), infrastructure, and cloud computing, with the total investments exceeding $15 billion, said a report.
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Hilton Tower Race set for March 8
Hilton Dubai The Walk, in partnership with the Al Jalila Foundation, is hosting The Hilton Tower Race 2025 on March 8.
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Musk's company in deal to develop Dubai Loop project
Roads and Transport Authority (RTA) has signed an agreement with Elon Musk's Boring Company for the development of 'Dubai Loop' project. A 17-km-long underground transport system, it features 11 stations that can handle over 20,000 passengers per hour.
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Sudair Pharma to set up new insulin plant in Saudi Arabia
Saudi-based Sudair Pharma Company has laid the foundation stone for its new insulin plant coming up in the Sudair City. The plant is expected to produce 15 million insulin pens per annum, which will cover the needs of 500,000 patients in its first year.
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stc Bahrain launches new edition of 'Wonderland' festival
The stc Bahrain has launched a new edition of its family-friendly 'Wonderland’ festival in the kingdom's Seef District. The 20-day winter festival will feature a diverse range of enjoyable entertainment in a vibrant and welcoming atmosphere for all ages.
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Aramco executive elected to US National Academy of Engineering
Aramco Downstream President Mohammed Y. Al Qahtani has been elected as an international member of the prestigious US National Academy of Engineering (NAE). With this, Al Qahtani becomes the first Saudi citizen to get elected to NAE since its foundation.
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PIF named title sponsor for Saudi ladies golf tournament
Golf Saudi has announced that PIF is the new title partner of the renamed PIF Saudi Ladies International, a partnership which also sees the prize money for the tournament equaling with the men’s contest, underlining PIF’s commitment to inclusion in sport.
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