The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023
The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate
Saudi Arabia and Egypt will be the key markets for the group’s expansion in the region
The resort will feature 225 guest rooms and suites with terraces overlooking the beaches of the Red Sea
Jessica Wong, managing partner at eWTP Arabia Capital looks at how Saudi Arabia is uniquely placed to leapfrog innovation hurdles and build businesses with global impact
Aman Wadi Safar will include 78 keys, while Janu Diriyah will feature 120 guest rooms
The developer shares the same vision as the authorities in Saudi Arabia and the company plans to open an office in Riyadh in Q4 2023
The project already has equity bridge loans of $14m from the EBRD and $45m from the APICORP
The boutique hotel will feature 35 guest rooms and is expected to open to by Q4 2023
The crescent Moon that signals the end of the holy month of Ramadan was spotted in the kingdom and the UAE on Thursday
The 200-key new-build property will open in the capital’s Olaya district in 2026
Hilton currently operates 16 hotels in Saudi Arabia and has another 51 under development
Dar Tantora by The House Hotel, a Kerten Hospitality brand, will open with 30 guest rooms
The state remains the largest shareholder in Aramco after the transfer, as it retains more than 90 per cent of the company’s shares
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links
It has confirmed 56 additional weekly services to 14 destinations
The Eid holiday will start on Thursday, April 20, at the end of the workday
The company will benefit from Savvy’s long-term financial backing to deliver on its strategy to grow and deepen existing franchises
The kingdom has one of the highest reserve coverage ratios among Fitch-rated sovereigns at 18 months of current external payments
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals
The 246-key voco Hotel and Suites Riyadh North is scheduled to host its first guests in 2026
Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day
The bank signed off on EUR318m ($344.5m) towards the financing of Phase I of the Electric Express Train Project in Egypt
The state-owned oil major said the deal includes the supply of 480,000 bpd of crude oil to Rongsheng refinery for 20 years
The state-owned oil giant will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in China’s Liaoning province
The airline will be focused on enabling travel for tourists, residents and commercial partners to and from NEOM
The non-binding MoU aims to contribute to the digital transformation of various industrial sectors in Saudi Arabia
The contract’s scope includes project management for master planning, design and construction services, through to testing, commissioning, operational readiness, activation and transition
It’s the first of many hospitals planned in Saudi Arabia and regionally, as part of OSHCO’s aim to grow its healthcare investment portfolio
The sighting of the moon signifies the start and the end of Ramadan, the ninth month of the Islamic calendar