Saudi Arabia and the Netherlands have signed several agreements and memoranda of understanding (MoU) with investments exceeding SR428 million (approximately $114.13 million) in Amsterdam. These agreements aim to develop and localize modern technologies in the environmental, water, and agricultural sectors. The signing ceremony took place during the visit of Saudi Deputy Minister of Environment, Water,...
OpenAI, the creator of ChatGPT, is currently in discussions to raise funds amounting to $40 billion. This initiative includes talks with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and existing shareholder MGX from the United Arab Emirates, as reported by The Information and Yahoo According to sources familiar with the situation, each of...
The Charitable Society for Orphan Care in Riyadh, also known as Insan, transferred SR10.5 million ($2.8 million) to beneficiary families in early June, benefiting a total of 35 131 individuals. This initiative was reported by the Saudi Press Agency on Monday. The funds distributed included direct cash payments, allowances for clothing, and provisions for food....
Saudi Arabia has officially launched TOURISE, a new initiative aimed at transforming the global tourism industry through innovation, sustainability, and investment. This visionary platform is designed to be a continuous engine for collaboration between public and private sectors, with the goal of creating resilient travel ecosystems worldwide. TOURISE aims to serve as a global hub...
Elon Musk announced that Saudi Arabia has approved the deployment of Starlink, his internet satellite system, for maritime and aviation use. This expansion will enhance Starlink’s already extensive global presence, which currently spans more than 125 countries and continues to grow rapidly. Musk made this statement during the Saudi-US Investment Forum, where he received enthusiastic...
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...
Saudi Arabia has achieved the top rank for the third consecutive year in the Middle East and North Africa (MENA) region according to the 2024 Government Electronic and Mobile Services Maturity Index. This index, published by the UN Economic and Social Commission for Western Asia, evaluates the effectiveness of government services delivered through electronic applications...
In 2025, Saudi Arabia plans to transform its transportation infrastructure by introducing new train routes that will enhance domestic and regional travel. The country aims to become a regional transportation hub by expanding its rail network, which will provide faster and more comfortable travel options. This development is also expected to bolster Saudi Arabia’s status...
OPEC has announced updated plans requiring seven countries, including Saudi Arabia and the UAE, to implement further oil output cuts. This decision comes as these nations have been pumping above the agreed quotas. The announcement was made on Wednesday, indicating that the new measures aim to stabilize the oil market amid ongoing adjustments since late...
Saudi Arabia-based construction technology company, TruBuild, has successfully raised $1 million in a Seed funding round. This funding was led by Wa’ed Ventures, the $500 million venture capital arm of Aramco, alongside Dar Ventures. Other contributors to the investment included Plug & Play Ventures, OQAL, Taz Investment, and various angel investors. The funds will be...