Saudi wealth fund cashes in $1 billion with STC stake sale
Saudi Arabia’s PIF raises $1 billion by selling a 2% stake in STC, aligning with Vision 2030’s diversification goals.
Business
Saudi firm launches “Heart of Khobar” smart city project
Saudi Arabia’s Tilal Real Estates unveils the 'Heart of Khobar,' a $1.6 billion smart city project to drive investment and elevate urban living standards in the Eastern Province.
Savola reshapes capital, hands Almarai stake to shareholders
Savola Group’s capital overhaul sees it distribute its Almarai stake, boosting shareholder value while restructuring finances for growth.
Armah Sports boosts Saudi fitness scene with $47mn in new funding for expansion
Armah Sports secures a Sharia-compliant loan to expand fitness clubs across Saudi Arabia, enhancing the Kingdom’s wellness landscape and saving on finance costs.
Sotheby’s promises luxury, heritage at Saudi’s first-ever international auction
Sotheby’s launches Saudi Arabia’s first-ever international auction, merging luxury, heritage, and art in Diriyah’s historic setting.
Saudi launches AI guide SARA to transform tourist experience
Saudi Tourism Authority launches SARA, an AI-powered guide offering travellers insights on Saudi cultural sites, enhancing the digital tourism experience.
Saudi crown prince congratulates Trump, pledges to strengthen US-Saudi ties
Saudi Crown Prince congratulates Trump on election win, signalling intent to reinforce US-Saudi ties and regional stability efforts amid shifting geopolitics.
Riyadh Air nears game-changing decision between Boeing 777X and Airbus A350
Riyadh Air, Saudi Arabia’s newest airline, weighs Boeing and Airbus for a major wide-body jet order, poised to transform the region’s aviation landscape with a strategic fleet expansion.
Saudi Arabia and Türkiye ink new economic deals in Istanbul for $30bn projected trade
Saudi Arabia and Turkiye solidify economic ties with ten new agreements at a major business forum in Istanbul, aiming for $30 billion in bilateral trade.
Monroe Capital explores Saudi expansion amid rising private credit demand
Monroe Capital eyes Saudi expansion, exploring strategic partnerships in a region ripe for private credit growth. With high demand and regulatory shifts, the firm aims to tap into MENA’s evolving financial landscape.
