Businesses from Saudi Arabia and Morocco are considering the establishment of a joint investment fund aimed at financing projects in both countries. A delegation of 30 prominent Saudi companies met with their Moroccan counterparts in Rabat this week to discuss this proposal. The Saudi delegation’s visit coincided with Morocco’s extensive preparations for co-hosting the 2030...
In response to increasing global concerns about food security, Saudi Arabia has launched a groundbreaking initiative called the Sustainable Agricultural Rural Development Program, known as “Reef Saudi.” This program aims to redefine the relationship between people and the countryside, advancing rural production sectors while fostering an ecosystem that promotes agricultural sustainability. Led by the Ministry...
Saudi Arabia and Indonesia have signed several agreements and memorandums of understanding valued at approximately $27 billion. These deals, reported by the Saudi state news agency SPA, involve private sector institutions and focus on areas such as clean energy and petrochemicals. The agreements were finalized during the visit of Indonesian President Prabowo Subianto to Saudi...
In a significant development timed with the Islamic New Year, Saudi Arabia has launched a 30-day grace period for individuals holding expired visit visas. This policy, which became effective on June 26, 2025, allows visitors to rectify their visa status and leave the Kingdom without incurring penalties. The grace period is applicable to all types...
Saudi Arabia’s Public Investment Fund (PIF) has raised its total assets to SR4.32 trillion ($1.15 trillion) by the end of 2024, marking an 18 percent increase from the previous year. This information was disclosed in a report filed with the London Stock Exchange. The sovereign wealth fund reported gross revenues of SR413 billion for 2024,...
Malaysian budget airline AirAsia is planning to establish a Gulf hub this year, aiming to enhance connectivity between Europe and the region while strengthening air links between South-East Asia and the Gulf. According to founder and CEO Tony Fernandes, the airline has shortlisted four airports, including one in Ras Al Khaimah and another in Saudi...
UAE banks are increasingly looking beyond their borders as they face domestic challenges and shifting interest rates, prompting them to pursue international growth opportunities. Leading Emirati banks are strategically expanding abroad to address local difficulties, such as early government repayments and pressure on net interest margins. For instance, Abu Dhabi Islamic Bank increased its exposure...
Saudi Arabia’s net foreign direct investment (FDI) decreased by 7% in the first quarter of 2025 compared to the previous quarter, according to government data released on Sunday. The kingdom attracted 22.2 billion riyals ($5.92 billion) in FDI during the three months ending March 31, down from 24 billion riyals ($6.40 billion) in the last...
The term “artificial intelligence” often brings to mind chatbots and digital assistants. However, the next phase, known as superintelligent AI, is expected to have a profound impact on the digital economy in the Middle East and beyond. Global tech leaders predict that this advanced form of AI could arrive in less than five years. The...
In a groundbreaking move, Saudi Arabia will establish 166 “schools without walls” as part of a nationwide initiative aimed at promoting community education beyond traditional classroom settings. This project was announced by Tatweer Building Company (TBC), the infrastructure arm of the Ministry of Education. These innovative schools will be built in residential areas developed by...