Saudi Arabia and Pakistan have agreed to launch an economic cooperation framework, based on the two countries' shared economic interests.
The Middle East and North Africa region continued to demonstrate healthy activity and investor interest, with 11 IPOs raising $700 million in total proceeds. The IPO pipeline remains strong, with 19 companies and funds intending to list on the region’s exchanges.
The Kingdom of Saudi Arabia's 40% budget and expenditures are now being financed by non-oil revenues, and notably, 90% of FDI in the country is non-oil, said its senior minister at the Future Investment Initiative (FII9) summit in Riyadh.
Masdar, a Abu Dhabi energy company, has been awarded two solar photovoltaic (PV) projects, with a combined capacity of 2 gigawatts (GW), under the sixth round of bidding in Saudi Arabia's National Renewable Energy Program (NREP).
AJEX Logistics has opened Saudi Arabia’s first Good Manufacturing Practices-GxP certified logistics depot in Riyadh. The 3,000 sq m facility enhances its capability to support the demand for temperature-controlled storage and distribution.
Kamco Invest, a regional non-banking financial powerhouse, has announced that its private equity team has acquired a stake in Unifonic, a leading customer engagement platform and SaaS provider in the Mena region.
Red Sea Global (RSG), a leading developer powered by Saudi PIF, has secured a SAR6.5 billion ($1.73 billion) funding for its ultra-luxury wellness destination, Amaala, featuring more than 1,400 hotel rooms across eight different resorts.
The growth trajectory of Saudi Arabia’s asset management industry (AMI) is expected to continue with its AUM projected to exceed $400 billion in 2026, maintaining the kingdom’s lead in the GCC region, according to Fitch Ratings.
President of Saudi Arabia General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej and Cuba’s Ambassador to the Kingdom of Saudi Arabia Miguel Porto Parga signed an agreement on air transport services between the governments of Saudi Arabia and Cuba at GACA’s headquarters in Riyadh.
EICT, a leading Saudi Arabian ICT and systems integration company, has officially launched the IO by HFCL portfolio of enterprise Wi-Fi and networking solutions in Saudi Arabia.
