Wednesday, April 1

Tag: Saudi Arabia

Umm Al Qura for Development & Construction Company Concludes Participation in Real Estate Future Forum 2026
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World

Umm Al Qura for Development & Construction Company Concludes Participation in Real Estate Future Forum 2026

Participation coincides with Masar’s destination receiving LEED Gold certification Umm Al Qura for Development & Construction Company, the owner, developer, and operator of Masar Destination in Makkah, has concluded its participation as a strategic partner in this year’s Real Estate Forum (RFF). The forum was held in Riyadh from January 26 to 28 under the patronage of His Excellency, the Minister of Municipal Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail. The company’s pavilion, which drew strong interest from investors and visitors, presented Masar Destination’s key components, available investment opportunities, and recent project developments. It also highlighted the significant progress achieved in recent months. During the forum, Umm Al Qura for Development ...
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Riyadh Air and Mastercard take off togetherto redefine the global travel experiencethrough multiple touchpoints
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Riyadh Air and Mastercard take off togetherto redefine the global travel experiencethrough multiple touchpoints

• The two companies announce a strategic global partnershipincluding multiple elements across enterprise, brand,consumer and guest experience • The partners will develop a portfolio of innovative consumerproducts including Riyadh Air-branded credit and prepaidcards built for the next generation of travelers • As a global first, Riyadh Air will introduce airline-brandedvirtual card program to support travel agents and otherB2B transactions • The extensive partnership will include&nb...
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Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 2026
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Business

Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 2026

Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on 22-23 April 2026, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland. His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning today confirmed the details for the regular high-level WEF meeting, which was announced at the 2025 WEF Annual Meeting. Calling for pragmatism and collaboration against a backdrop of geopolitical fragmentation, HE Alibrahim said “stability can’t be quickly built, and it can’t be bought”. “Stability needs to be founded, nurtured, protected, reinforced, and guided. Stability is non-negotiable,” he ...
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WEF26: Saudi Arabia becoming ‘a connector economy’ as world trade evolves
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WEF26: Saudi Arabia becoming ‘a connector economy’ as world trade evolves

His Excellency Majid A. Alkassabi, Saudi Arabia’s Minister of Commerce, today at the World Economic Forum Annual Meeting in Davos said the Kingdom stands to benefit from ongoing shifts in global supply chains. Speaking in a session titled ‘Many Shapes of Trade’, HE commented: “Trade today is definitely shifting from fair trade to a managed and rule-driven trade model. For us in Saudi Arabia, we have a strategic location, we have a lot of resources, we could become a bridge economy. We could become a connector economy where we can connect with Africa, with Europe, with Asia, becoming a logistic hub.” His Excellency Ahmed A. Alkhateeb, Minister of Tourism, in a session called ‘The New Geography of Travel: Elevating Destinations, Ex...
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WEF26: Saudi Arabia leads new global push to protect coral reefs, unlock AI potential
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WEF26: Saudi Arabia leads new global push to protect coral reefs, unlock AI potential

The Saudi delegation to the World Economic Forum (WEF) Annual Meeting 2026 today observed a series of announcements aimed at addressing urgent global challenges. Her Royal Highness Ambassador Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, announced that Saudi Arabia will host the first Global Coral Reef Summit in 2026, bringing together global leaders, scientists, and investors to drive solutions for the protection and recovery of coral reef ecosystems. The summit will address key challenges and policy and regulatory gaps, develop science-based solutions, and advance sustainable financing and investment mechanisms to scale coral reef protection and recover...
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“Soudah Development” and “National Grid” Sign SAR 1.3 Billion Agreement to Power Soudah Peaks
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“Soudah Development” and “National Grid” Sign SAR 1.3 Billion Agreement to Power Soudah Peaks

• Strategic partnership to deliver advanced power infrastructure to Soudah Peaks. • A new important milestone in the progression of Soudah Peaks project paving the way for more. Soudah Development, a Public Investment Fund (PIF) company, chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, has signed a landmark agreement with National Grid, a Subsidiary of the Saudi Electricity Company, valued at more than SAR 1.3 billion, to develop and deliver advanced power infrastructure for the Soudah Peaks.  This strategic partnership marks a critical milestone in the development of Soudah Peaks, an ultra-luxury mountain destination rising 3,015 meters above sea level, and underscores Soudah Development’s commitment ...
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Algorithm and Batterjee Pharma Sign Strategic Partnership Agreement to Localize Key Pharmaceuticals in KSA
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Algorithm and Batterjee Pharma Sign Strategic Partnership Agreement to Localize Key Pharmaceuticals in KSA

Algorithm, a pioneering regional pharmaceutical manufacturer has announced the signing of a strategic partnership agreement with Batterjee Pharma, a leading Saudi pharmaceutical company, becoming the first Lebanese company to localize its portfolio in the Kingdom. The agreement covers the manufacturing and supply of several EU & Japanese licensed Algorithm products. The collaboration will kick off with products targeting the treatment of critical therapeutic areas as hyperlipidemia, dyslipidemia & hypertension with full technology transfer by mid-2026. Aligned with KSA’s Health Sector Transformation Program under Vision 2030, this partnership&nb...
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Saudi Arabia Issues Green, Social, and Sustainable Debt Instruments Guidelines to Support ESG Investment and Align with Global Standards
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Saudi Arabia Issues Green, Social, and Sustainable Debt Instruments Guidelines to Support ESG Investment and Align with Global Standards

The Capital Market Authority (CMA) of Saudi Arabia has issued the Guidelines for Issuing Green, Social, Sustainability, and Sustainability-Linked Debt Instruments, marking a strategic milestone in the Kingdom’s journey to build a diversified and globally integrated capital market under Vision 2030. Effective from May 27, 2025, the Guidelines provide issuers with a framework aligned with international standards. This initiative is part of CMA’s 2024–2026 Strategic Plan and reflects the Kingdom’s ongoing commitment to advancing ESG-aligned capital formation, enhancing transparency, and expanding financing channels across the public and private sectors.  Abdullah Al-Moqbel, Director of the Sustainability Department at the CMA, said: “This framework supports the growth of Saudi...
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CMA Approves Amendments to Investment Accounts Instructions to Strengthen Foreign Investor Access and Enhance Market Efficiency
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CMA Approves Amendments to Investment Accounts Instructions to Strengthen Foreign Investor Access and Enhance Market Efficiency

The Capital Market Authority (CMA) of Saudi Arabia has approved a set of amendments to the regulatory framework governing the procedures for opening and operating investment accounts. These changes aim to facilitate access for a broader base of foreign investors and align with the Kingdom's regulatory and technological developments.  The amendments are part of CMA’s ongoing efforts to enhance the investment environment and expand the investor base in the Saudi capital market.  The requirements for opening an investment account for individual foreign investors residing in one of the GCC countries have been developed. In addition, the scope of securities that they can directly invest in now includes the shares of listed companies on the Saudi Main Market (TASI).  Befo...
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Registration Continues for the Second Edition of “Miyahthon” to Advance Innovation in Water Sustainability
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Registration Continues for the Second Edition of “Miyahthon” to Advance Innovation in Water Sustainability

The Saudi Water Authority is continuing to accept applications for participation in the second edition of the global hackathon “Miyahthon”, which brings together innovators and entrepreneurs from Saudi Arabia and beyond to develop sustainable solutions for the future of water. Registration remains open until 11 October 2025. This edition builds on the success of the inaugural Miyahthon, which witnessed wide participation from both local and international innovators. It led to the development of groundbreaking projects, including the “Smart Ric” water treatment solution and “Hydraya”, an artificial intelligence application. The winning projects were incubated in the business accelerators of the Saudi Water Innovation Center, enabling them to grow and transform into market-ready...
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