As the Hajj 2025 season approaches, Saudi Arabia is intensifying preparations through significant infrastructure and service upgrades aimed at enhancing the pilgrimage experience for millions of worshipers. The Central Hajj Committee, led by the Deputy Emir of Mecca, Prince Saud bin Mishaal, convened to evaluate the readiness of facilities and services for pilgrims during Ramadan...
Future Vision for Health Training, a Saudi healthcare education firm, is preparing to launch an initial public offering (IPO) with plans to float two million shares. This IPO will represent 20% of the company’s total share capital and is scheduled to take place on Saudi Arabia’s Parallel Market, NOMU. The share sale is set to...
Saudi Arabia’s Public Investment Fund (PIF) is preparing to invest approximately $100 million in the Malaysian airline group AirAsia. This investment is poised to enhance the Gulf kingdom’s connections with a region that serves as a significant source of tourism, as reported by sources familiar with the negotiations. The PIF is expected to be the...
Sustainable bond issuances in the Middle East are projected to reach between $18 billion and $23 billion in 2025, with the UAE and Saudi Arabia expected to contribute around 60% of this total, according to S&P Global Ratings. This significant growth reflects the increasing focus on sustainable financing in the region. Currently, sustainable bonds represent...
Saudi Arabia’s Public Investment Fund (PIF) and Goldman Sachs Asset Management have recently signed a non-binding memorandum of understanding (MoU). This partnership will allow PIF to serve as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider Gulf Cooperation Council (GCC) region. An anchor investor is...
Start-ups in the Middle East and North Africa region secured $494 million in funding in February 2025, marking a remarkable increase of 457% compared to the same month last year. This data was reported by Wamda and Digital Digest. Entrepreneurs from Saudi Arabia and the UAE were the primary beneficiaries of this fundraising surge, accounting...
Travellers at King Abdulaziz International Airport in Jeddah can now enjoy a faster and more efficient journey with the launch of 70 advanced e-gates. This initiative is part of Saudi Arabia’s efforts to modernize its aviation sector and improve the overall travel experience for up to 175,000 passengers daily The system was inaugurated by Prince...
Merger and acquisition activities in the Middle East and North Africa (MENA) saw a 7% increase in 2024, reaching a total deal value of $92.3 billion, largely fueled by the contributions of Saudi Arabia and the UAE. According to a report by professional services network EY, the region recorded 701 deals, which is a 3%...
Larsen & Toubro (L&T), an Indian engineering and construction conglomerate, has announced that its subsidiary, L&T Energy Hydrocarbon (LTEH), has secured a significant contract worth $1.5 billion from Saudi Aramco. This contract involves providing essential engineering, procurement, and construction (EPC) services for the first phase of Aramco’s ambitious Carbon Capture & Storage (CCS) hub in...
The president of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, sent his warmest greetings to Saudi Arabia on its Founding Day. Sheikh Mohamed said, “Congratulations to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, Crown Prince Mohammed bin Salman, and the people of Saudi Arabia on the occasion of...