The deal is the largest of its kind signed in the Saudi banking industry
Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher
Yazeed Saleh Aldemaigi, deputy of strategy and international affairs at Capital Market Authority didn’t give a time frame for when the framework could be introduced
The facility will help finance the growing demand for bringing the buy now, pay later products in the GCC while continuing its growth across new verticals
The strategy aligns with the fund’s aim to support the private sector in increasing its contribution to GDP by up to 65 per cent by 2030
The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period
Riyadh will be the company’s operational hub, and will connect the Saudi capital to over 100 destinations globally
The announcement is the latest in a series of initiatives that seek to attract visitors coming from GCC countries
The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues
The real estate arm of Saudi conglomerate, Rawabi Holding, is looking to be part of the solution on climate change
The deal comes amid expectations of lucrative business opportunities in Saudi Arabia and the Middle East
The company plans to build additional sites in other rapidly growing data centre markets including Nairobi, Casablanca and Lagos
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Domestic deals represented 34 per cent of the total M&A value at $28.4bn while outbound deals led in value at $40.1bn
Prices for US customers were left unchanged
The first wave of supported projects, which will have strategic impact on several economic sectors, will benefit from investments worth SAR192.4bn
The Gulf states are accelerating the decarbonisation of their energy sectors by investing heavily in renewable energy
Aramco will be a minority stakeholder in the venture while Geely and Renault are expected to retain equal equity stakes
The transaction expands Aramco’s lubricants business globally
Public and private sector enterprises are setting standards for digital excellence with the support of events such as LEAP2023
SABIC, which is majority-owned by Saudi Aramco, said average sale prices dropped 9 per cent from the previous quarter.
Emkan Capital’s technology fund will invest in pre-seed and seed-stage companies with high-growth potential
Mawani said the logistics park is expected to further boost its role as a key player in the national transportation ecosystem
The seven-week programme will be available exclusively through the University of Southern California
The sultanate’s historic decision is expected to shorten flights to some Asian destinations by more than two hours
The kingdom wants to use its energy windfall to accelerate projects that contribute to weaning it off a reliance on oil
The purchase was funded from Almarai’s internal cash flows
The new Murabba project will feature a museum, a technology and design university, a multipurpose immersive theater, and more than 80 entertainment and culture venues
The tournament will be held from December 12-22