Vision 2030

A picture taken on December 7, 2022 in Riyadh, shows the Chinese and the Saudi flags adorning a street ahead of the Chinese president's visit to the Saudi capital. - Chinese President Xi Jinping will make a three-day visit to Saudi Arabia this week, meeting the king and de facto ruler of the world's biggest oil exporter. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Saudi Arabia's Diriyah awards Chinese firm $1.53B contract: What to know

Saudi Arabia’s Diriyah Company has awarded a major contract to China Harbour Engineering Company for the development of a Vision 2030 project.

People attend the international esports gamers Next World Forum, in the Saudi capital, Riyadh, on Sept. 7, 2022.

Analysis

Elite gamers chase $70M at Saudi Esports World Cup as Riyadh eyes bigger prize

Although aligned with Riyadh’s overall sports strategy, the Esports World Cup also plays a unique role in showcasing the Gulf nation’s tech and pop culture reach.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

CORRECTION / A picture taken in Riyadh shows the sign in Arabic of an Aramco gas station on the outskirts of the Saudi capital Riyadh on November 5, 2024. Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third quarter profit on November 5, 2024, citing low oil prices. (Photo by Fayez Nureldine / AFP) / "The erroneous mention[s] appearing in the metadata of this photo by Fayez Nureldine has been modified in AFP systems in the following manner: changing the second phrase to refer to Saudi

Saudi PIF reports 60% profit drop as inflation, low oil prices bite

The PIF said that the impairments were mainly related to changes in operational plans and increases in budgeted costs.

Neom

France's EDF reportedly dropped from Saudi Neom project: What to know

EDF was appointed by the Saudi government in January 2024 to carry out preliminary studies on the conception and construction of a hydroelectric power plant in Neom.

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Analysis

Will Trump's push for Gulf investment align with regional economic realities?

President Donald Trump shakes hands with Saudi Arabia's crown prince, Mohammed bin Salman, in the Oval Office of the White House on March 20, 2018.

In Bristol, reporting on regional business, climate change, AI, tech

Exclusive

'Cloud First' policies give Saudi Arabia, UAE edge in AI race: Amazon exec

Yasser Hassan

In Bristol, reporting on regional business, climate change, AI, tech

Saudi PIF, Italy sign $3B export deal as ties grow under Meloni: What to know

EU-GCC summit

Saudi Arabia markets Middle East's first euro green bond: What to know

Delegates arrive for the opening session of the United Nations Convention to Combat Desertification, UNCCD COP16, in the Saudi capital Riyadh on December 2, 2024. Saudi Arabia is hosting the COP16 UN conference on land degradation and desertification as the top oil exporter pitches itself as an environmental defender despite criticism of its role at climate talks. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

This picture shows a construction site for Saudi Arabia's Public Investment Fund in Riyadh, on April 16, 2023.

Saudi Arabia’s non-oil private sector grows at fastest rate in over a decade

Saudi Arabia's General Authority for Statistics said last week that the kingdom's non-oil GDP growth rate was up 4.3% from 2023, while oil activities declined by 4.5%.

AFP via Getty Images

Saudi Arabia eases foreign investment laws for Mecca, Medina real estate

Foreign investors will have access to limited shares of companies listed on the Saudi capital market, convertible debt instruments or both, the Saudi Capital Markets Authority said in a statement.

Saudi Finance Minister Mohammed al-Jadaan attends a session on the closing day of the World Economic Forum (WEF) annual meeting in Davos, on Jan. 19, 2024.

Exclusive

Saudi finance minister hints kingdom could meet 2030 renewables target early

On Monday, the kingdom commissioned its largest battery energy storage system to its grid, with a capacity of 500 megawatts and the ability to store 2,000 megawatt hours of electricity.

In Bristol, reporting on regional business, climate change, AI, tech

MBS

Analysis

New Saudi-Greek strategic council: Boost for defense, energy, EU ties

Riyadh and Athens are steadily expanding their ties to include military, political and economic dimensions, driven by a shared commitment to regional stability and economic diversification.

Sabena Siddiqui

By Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Saudis celebrate World Cup announcement

Saudi Arabia bets 2034 World Cup will bring foreign investment, reduce reliance on debt

Hosting the 2034 World Cup will give fresh impetus to Saudi Arabia’s economic diversification plans as tournament-linked construction and developments open new investment opportunities.

SAM PANTHAKY/AFP via Getty Images

Airbus becomes latest multinational to open regional HQ in Saudi Arabia

The European plane maker aims to develop local talent and technological expertise in the fast-growing Gulf market.

WASHINGTON, DC - MARCH 20: President Donald Trump (R) holds up a chart of military hardware sales as he meets with Crown Prince Mohammed bin Salman of the Kingdom of Saudi Arabia in the Oval Office at the White House on March 20, 2018 in Washington, D.C. (Photo by Kevin Dietsch-Pool/Getty Images)

Analysis

Saudi Arabia to pursue two-track approach for Trump presidency

Riyadh is likely to compartmentalize business dealings with incoming President Donald Trump separately from its foreign policy engagements, where there is likely to be disagreement.

Jennifer Gnana

By Jennifer Gnana

In Dubai, reporting on Gulf energy policy and politics

NEOM CEO Nadhmi Al-Nasr speaks during the last day of the Future Investment Initiative conference, Riyadh, Oct. 25, 2018.

Analysis

Why did Saudi Arabia replace Neom's CEO amid budget concerns?

The change in leadership comes at a pivotal time for the $1.5 trillion green, megacity project central to the ambitious agenda of Saudi Vision 2030.

In Bristol, reporting on regional business, climate change, AI, tech

US Secretary of Defense Lloyd Austin welcomes Saudi Defense Minister Khalid bin Salman to the Pentagon in Washington, DC, on November 1, 2023. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

Analysis

In military reshuffle, Saudi Arabia seeks efficiency, closing gap with regional rivals

Saudi Arabia has recently undertaken a significant reorganization of its top military leadership, with new senior appointments to the kingdom’s joint, land and naval forces — a step that could mark a pivotal shift in the country's defense strategy and domestic balance.

Francesco Schiavi

By Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

PEDRO PARDO/AFP via Getty Images

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.

Beijing

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.

Media image of a Lilium eVTOL jet, download July 18, 2024.

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.