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.
Hilton has surpassed the milestone of 100 hotels trading and in the pipeline in Saudi Arabia – representing a combined investment of $8 billion from hotel owners and investors into Hilton’s growing portfolio, and underscoring the company’s long-term commitment to supporting Vision 2030 by expanding its footprint and delivering world-class hospitality throughout the Kingdom.
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.
