Riyadh Air aims for 300 cabin crew with 900k diverse applications. Riyadh Air, backed by Saudi’s fund, targets 200k jobs by 2030. Riyadh Air eyes 100 Boeing 737 Max, unveils livery, and showcases sustainability with Lucid Group. In a strategic move to fortify its position as a major player in the aviation industry, Riyadh Air, … Read more
Saudi Crown Prince established a company to carry out a hugely ambitious development in downtown Riyadh. the New Murabba Development Company’s project will feature more than 80 cultural and entertainment venues. The development will cover 19 square kilometres to the northwest of Riyadh when it is finished in 2030. As part of Saudi Arabia‘s … Read more
RIYADH: Saudi Arabia is expected to convert 22 airport operators into holding companies, as a privatisation process for them proceeds rapidly, Arab News quoted head of the General Authority of Civil Aviation Abdulaziz Al-Duailej, as saying. He emphasised that the privatisation involved “vigorous steps”, with two proposed projects, Taif and Abha airports progressing toward final … Read more
RIYADH: Sanabil Investments, wholly owned by the Public Investment Fund, and 500 Global, a leading global venture capital firm has unveiled 11 startups in the second batch of the Sanabil 500 MENA Seed Accelerator Programme 2021, Arab News reported. Female founders lead a third of the batch, signaling 500 Global’s commitment to continue supporting diversity. The program … Read more
JEDDAH: Saudi Arabia’s Crown Prince Mohammed bin Salman has launched the plan and main features of the Jeddah Central Project, previously known as New Jeddah Downtown, with total investments of 75 billion riyal ($19.99 billion), SPA reported on Friday. “The ambitious 75 billion Saudi riyal project will develop 5.7 million square metres of land overlooking the Red … Read more
RIYADH: Some 140 local tour guides will be trained to boost Saudi Arabia’s tourism sector, it has been announced. This comes as part of the agreement signed between the Public Investment Fund’s Cruise Saudi and the Ministry of Tourism, Saudi Press Agency reported. The deal will see the two organisations working together in areas of development and … Read more
RIYADH: Saudi Arabia’s Finance Ministry said it looks at long-term and historical periods to ensure oil price outlook is more accurate, Arab News quoted Finance Minister Mohammed Al-Jadaan, as saying. Speaking at a budget forum in Riyadh, the finance minister said revenues are calculated based on structural income factors. He said the Saudi budget surplus … Read more
RIYADH: Saudi Real Estate Refinance Company has completed issuing a SR2 billion ($533 million) Sukuk to support lenders in the kingdom’s housing market, Arab News reported. The 10-year Sukuk was issued at a fixed profit rate of 3.04 per cent marketed to Saudi institutional investors, the deal was oversubscribed 2.5 times, the company said in a statement. … Read more
Saudi Global Ports has agreed a deal to help double Riyadh Dry Port’s handling capacity to 1.5 million containers/annum by 2030, Arab News reported. The Public Investment Fund-backed SGP will work with the Saudi Railway Company to improve connections between the dry port and Dammam Seaport, where it operates the first and second container terminals. SGP will … Read more
RIYADH: Saudi Arabia, which reported last month a surplus in its first quarterly budget surplus since the first quarter of 2019, is applying restraints on spending even, as oil prices are trading near multiyear high, Arab News reported. The Saudi Ministry of Finance has started to apply the spending cap regardless of the oil price and revenues, … Read more
The world’s largest cinema operator, AMC Entertainment Holdings continued expansion drive in Saudi Arabia as it has opened the sixth cinema in the Kingdom, as a part of its ambitious plans to open cinemas in different 50 locations by 2024. After more than three decades, the Kingdom had allowed reopening the cinemas for the first … Read more
