Saudi Arabia has signed a memorandum of understanding (MOU) with packaging solutions company Sidel in Paris, France, aiming to explore the establishment of packaging operations within the kingdom. This agreement was formalized during the official visit of Saudi Arabia’s Minister of Industry and Mineral Resources to France. The MOU was signed by Saleh AlSolami, CEO...
Saudi Arabia is emerging as an attractive market for healthcare providers, driven by a rapidly growing population and high rates of lifestyle diseases. The country’s median age is increasing, and there is a significant prevalence of conditions like hypertension and diabetes that require medical intervention. Tara Rampal, founder of Quest Prehab, a London-based company offering...
The Bank of New York Mellon (BNY Mellon) has acquired a license from the Ministry of Investments (MISA) to establish a regional headquarters (RHQ) in Saudi Arabia. This move is part of the country’s broader effort to diversify its economy and reduce reliance on the oil industry. Under the initiatives led by Crown Prince Mohammed...
PJT Partners has made a significant strategic move by opening a new office in Riyadh, Saudi Arabia. This expansion enhances its senior team in a region that is increasingly becoming a hub for investment banking. The Middle East is gaining importance for investment banks, driven by a rise in sovereign wealth fund activity, efforts for...
Pemo, a comprehensive spend management platform, has officially launched in Saudi Arabia, offering innovative financial solutions tailored for businesses across the Kingdom. The company, which has secured $19 million in funding from international investors, aims to provide smart corporate and virtual cards, automated receipt collection, and AI-driven accounting to simplify expense tracking and invoice management....
Saudi Arabia’s foreign direct investment (FDI) inflows have dropped for the third consecutive year in 2024, indicating ongoing challenges in attracting foreign investors. The kingdom saw a year-on-year decline of 19%, bringing total inflows down to $20.7 billion, marking the lowest level since 2020. This information comes from an annual government report that monitors the...
Saudi Arabia’s Vision 2030 initiative has made significant strides, achieving 93 percent of its key performance indicators either fully or partially since its launch nine years ago, as reported in the latest official assessment. This assessment demonstrates the effectiveness of the program, which focuses on diversifying the economy, empowering citizens, and creating an appealing environment...
Artificial Intelligence (AI) is rapidly transforming economies around the globe, and Saudi Arabia is emerging as a significant contributor to this global shift. The Kingdom is experiencing a notable increase in AI adoption across various sectors, driven by its Vision 2030 initiative and a national strategy aimed at economic diversification. This includes advancements in energy,...
Virgin Atlantic has officially launched its first-ever service to Saudi Arabia, with Flight VS242 arriving from London Heathrow at King Khalid International Airport in Riyadh. This marks a significant milestone for the airline, highlighting its commitment to expanding international travel routes. The new daily service to Riyadh is part of Saudi Arabia’s growing prominence on...
Saudi Arabia has launched a series of water and sewerage projects valued at $533 million in the Riyadh region. This initiative is part of the Kingdom’s broader efforts to expand public utility services and address the increasing demand for essential resources. According to a press release from the National Water Co., the projects encompass 30...