Tesla has announced its upcoming launch in Saudi Arabia, scheduled for April 10. The event will take place in Riyadh, as stated on the company’s official website. This launch is significant as it occurs amid a decline in Tesla’s electric vehicle (EV) sales in both Europe and China. In recent months, Tesla’s sales in Europe...
UAE and Saudi Arabian companies are increasingly using long-term salary bonuses as a strategy to attract top executive talent. A report by Cooper Fitch reveals that over 50% of chief executives in Saudi Arabia receive more than six months’ worth of their basic salary in bonuses. This trend indicates a significant shift in how companies...
A recent survey by PwC has revealed that 81 percent of CEOs in Saudi Arabia have embraced artificial intelligence (AI) within the past year. This statistic underscores the optimism among Saudi business leaders regarding their companies’ revenue growth, which they expect to outpace both regional and global averages in 2025. The Kingdom is establishing itself...
On World Meteorological Day 2025, Saudi Arabia and the UAE reaffirmed their dedication to enhancing early warning systems globally. Both nations aim to ensure that all countries have access to these systems by 2027, aligning with the World Meteorological Organization’s objectives. Dr. Abdulla Al Mandous, the director-general of the National Center of Meteorology and president...
Investors from the Middle East, including those from Saudi Arabia and the UAE, are in discussions with HudBay Minerals to acquire up to a 30 percent stake in the company’s flagship Copper World project located in Arizona, USA. This interest was reported by Bloomberg, citing Peter Kukielski, the CEO of HudBay Minerals. Among the potential...
Cognite, an industrial software firm backed by Saudi Aramco, has launched its AI services center in Bengaluru, India. The company revealed plans to invest millions of U.S. dollars in India and aims to increase its investment in the region over time. Chief Strategy Officer Hakon Bjerke emphasized that Cognite is committed to this growth strategy....
Emaar The Economic City (Emaar EC) has successfully obtained a loan of 1 billion riyals, equivalent to $267 million, from the Public Investment Fund (PIF) to support project costs and drive growth. This loan is part of the company’s Capital Optimisation Plan. The new financing represents an amendment to a prior agreement made in 2023...
Hassana Investment Company has successfully finalized the acquisition of a 40% stake in Berain Water Company from Mohammed Abdulaziz Al-Rajhi & Sons Investment Company, also known as Rajhi-Invest. This significant transaction is expected to initiate a long-term partnership between the two companies, positioning Hassana to enhance its presence in the consumer sector of Saudi Arabia....
Saudi Arabia is set to expand its hospitality sector by adding 362 000 new hotel rooms by 2030. This ambitious project is part of a $110 billion investment aimed at enhancing the kingdom’s tourism and hospitality landscape, as detailed in data released ahead of the 2025 Future Hospitality Summit (FHS) Saudi Arabia. The expansion is...
Energy Capital Group (ECG), a Saudi investment firm focused on industrial services and global technologies, has completed the full acquisition of MT Enterprises through its ECG2.0-Fund2. This acquisition bolsters ECG’s industrial services platform and aligns with its commitment to local content development, technology transfer, and sustainable job creation, supporting the goals of Saudi Vision 2030...