Saudi PIF signs deals worth up to $50B with six Chinese institutions As one of the world’s largest sovereign wealth funds, the $925 billion Saudi PIF is already heavily invested in China. Saudi Arabia
China’s Baosteel ups investment in Saudi steel plate venture to $1B A subsidiary of the world’s largest steelmaker, China Baeowu Steel Group, will have a 50% stake in a major new Saudi-based venture. Saudi Arabia
Saudia inks deal for electric flying taxis from Germany amid airline order spree The agreement to purchase 50 jets, with an option for 50 more, was made with Lilium, headquartered outside Munich. Saudi Arabia
As Boeing struggles, Airbus inks 4-aircraft deal with Saudi Arabia The kingdom ordered four more of Airbus’ A330 Multi Role Tanker Transport aircraft for the Royal Saudi Air Force as Boeing's challenges mount in Gulf over safety issues. Saudi Arabia
Analysis Saudi Arabia's soccer dreams tested as Vision 2030 goal posts move By Samuel Wendel In Washington, DC, reporting on regional business and tech
Will Saudi Aramco's massive share sale to raise $12B pay off? By Sebastian Castelier In Dubai, reporting on regional business
Saudi Arabia sees 477% increase in multinational HQs in first quarter The 127 international companies relocating to Saudi Arabia so far this year follow a Saudi program to attract world businesses. Saudi Arabia
Goldman Sachs first Wall Street bank to get green light for Saudi Arabia HQ The US-headquartered investment bank received a license from the Saudi Ministry of Investment to set up its regional headquarters in the capital, Riyadh. Saudi Arabia
Saudi Arabia ‘conservative’ on oil revenue as it pares back Vision 2030 plans Mohammed Al-Jaadan warned that being a resource-rich country was a curse as well as a blessing because being dependent on one commodity such as oil can hold a country "hostage" to the volatility of global demand and prices. Saudi Arabia
Chinese investors skeptical as Gulf pushes for deeper economic ties with Beijing Gulf states are building economic ties with Beijing in non-energy fields, but Chinese investors remain skeptical of ambitious economic diversification plans in the Gulf. By Sebastian Castelier In Dubai, reporting on regional business
Interview Saudi Arabia's giga-projects to offer 'testing ground' for British technology Saudi startups and fintech firms are looking to tap into the United Kingdom's $1 trillion tech market. With Matt Jones Saudi British Joint Business Council Project Officer
Analysis After Neom cut, Saudi Arabia expected to scale back more Vision 2030 plans Authorities had originally planned for 1.5 million residents to live in The Line part of Neom, but they scaled back their ambitions to around 300,000. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Saudi Arabia offers $182M package, other incentives for mining investors The kingdom is prioritizing the lucrative sector as part of its ambitious Vision 2030 plan to diversify its economy away from a reliance on oil. Saudi Arabia
AI and cloud investments dominate Saudi Arabia's LEAP tech summit Amazon Web Services and DataVolt were among the companies that made significant cloud investments in the kingdom, which is looking to become a global technology hub. Saudi Arabia
UK-Saudi deal allows kingdom to tap into Britain’s $1T tech market The kingdom spent $5.1 billion on research and development in 2022, a 32.7% from the previous year’s $3.9 billion. Saudi Arabia
Saudi PIF-owned company, tourism fund partner on new downtown for Riyadh Saudi Arabia’s Public Investment Fund is working with the kingdom’s Tourism Development Fund to create "the world’s largest downtown" in the capital. Saudi Arabia
Saudi Arabia reports oil export slump after OPEC cuts The dip in exports for the fourth quarter of 2023 was due to Saudi Arabia’s decision to reduce crude output in accordance with the Organization of Petroleum Exporting Countries and allies — the kingdom has also implemented voluntary cuts. Saudi Arabia
Saudi tech giant expands investments into China, AI as part of $100B plans Alat plans to invest $100 billion by 2030 to coincide with Crown Prince Mohammed bin Salman’s Vision 2030 plan to wean the kingdom’s economy off of its reliance on oil. Saudi Arabia
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