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...
Siemens Energy has been awarded a significant contract worth $1.6 billion to provide technology for two gas-fired power plants in Saudi Arabia, specifically Rumah 2 and Nairyah 2. These plants, located in the western and central regions of the country, are set to add 3.6 gigawatts of power to the national grid, which is sufficient...
Niantic Labs, the creator of the popular augmented reality game “Pokemon Go,” has announced that it will sell its video-game division to Saudi Arabia-owned Scopely for $3.5 billion. This move comes as Niantic shifts its focus towards geospatial technology, following challenges in replicating the success of its 2016 hit game. The sale, which was revealed...
Bank Saudi Fransi (BSF) has announced a significant financing agreement worth 6 billion Saudi riyals, equivalent to $1.6 billion, with Diriyah Company for the development of the Wadi Safar destination. The announcement was made on Wednesday, with the agreement signed by Bader AlSalloom, the CEO of BSF, and Jerry Inzerillo, the Group CEO of Diriyah...