Explore

Takeaways from Trump's White House meeting with Saudi crown prince: Deals and bromance

Takeaways from Trump's White House meeting with Saudi crown prince: Deals and bromance

A jovial President Donald Trump has held a warm and friendly meeting with Saudi Crown Prince Mohammed bin Salman at the White House

Saudi Arabia's Quiet Shift on Alcohol Policy to Attract Foreign Residents

Saudi Arabia's Quiet Shift on Alcohol Policy to Attract Foreign Residents

Saudi Arabia is discreetly easing its strict alcohol prohibition as part of its broader strategy to attract foreign residents and boost its entertainment and tourism sectors. An unmarked store in Riyadh is reportedly selling alcohol to affluent foreigners with 'premium residency,' a program designed to attract skilled expatriates. This move aligns with Saudi Arabia's Vision 2030, which aims to diversify the economy and reduce reliance on oil. The store's existence is not widely advertised, and access is limited to those meeting specific income criteria. This development reflects a potential shift in Saudi Arabia's approach to balancing religious conservatism with global expectations.

Leonardo DRS Signs MOI with Saudi Arabia for C6ISR Collaboration

Leonardo DRS Signs MOI with Saudi Arabia for C6ISR Collaboration

Leonardo DRS has entered into a memorandum of intent (MOI) with the Saudi Ministry of Defense to explore collaboration opportunities in the C6ISR space. This agreement focuses on enhancing network and combat computing capabilities, including battle management systems, digital command-and-control tools, and C6ISR systems for brigade-level units. The MOI also covers rugged vehicle computing hardware, multifunctional rugged displays, vehicle communication systems, and mobile situational awareness capabilities for special forces and dismounted soldiers. This initiative builds on a previous agreement with Saudi Arabian Military Industries and its subsidiary, Advanced Electronics Company, aimed at localizing the production of combat management system devices and supporting command, control, reconnaissance, and computing operations.

Red Sea Film Foundation CEO Faisal Baltyuor Discusses Saudi Arabia's Entertainment Ecosystem Development

Red Sea Film Foundation CEO Faisal Baltyuor Discusses Saudi Arabia's Entertainment Ecosystem Development

Faisal Baltyuor, a prominent figure in Saudi Arabia's film industry, has been appointed as the CEO of the Red Sea Film Foundation. This organization is pivotal in developing the country's entertainment ecosystem, hosting the annual Red Sea International Film Festival and supporting filmmakers through various initiatives. Baltyuor's extensive experience in film production and distribution positions him as a key player in Saudi Arabia's rapidly growing film and TV industry. The foundation aims to fill gaps in the entertainment value chain by fostering talent, supporting film production, and attracting international collaborations. Baltyuor emphasizes the importance of building a sustainable industry that balances commercial and art house films, aligning with Saudi Arabia's Vision 2030 plan.

Saudi Arabia's Agriculture Market Poised for Growth with Technological Advancements

Saudi Arabia's Agriculture Market Poised for Growth with Technological Advancements

Saudi Arabia's agriculture market is projected to experience significant growth, reaching USD 212.6 billion by 2034, driven by technological adoption and government initiatives. The market, currently valued at USD 136.9 billion, is expected to grow at a CAGR of 5.02% from 2026 to 2034. The country's Vision 2030 plan emphasizes food security and sustainability, promoting the use of AI and smart farming technologies. These advancements aim to optimize resource use, improve crop yields, and support sustainable practices in the face of challenging desert conditions.

Saudi Arabia Expands Alcohol Sales to Wealthy Foreign Expats in Riyadh

Saudi Arabia Expands Alcohol Sales to Wealthy Foreign Expats in Riyadh

Saudi Arabia has discreetly expanded its alcohol sales policy by allowing wealthy foreign expatriates with 'premium residency' status to purchase alcohol in a store located in Riyadh. Previously, alcohol sales were restricted to foreign diplomats. The new policy requires expats to have spent at least 30 months in the country over the past five years and earn a minimum monthly income of 50,000 riyals (approximately $13,300). Access to the store is controlled through a reservation system and a points-based purchase limit. This move is part of Saudi Arabia's broader strategy to develop its non-religious tourism sector, although there has been no official announcement regarding this policy change.

Saudi Arabia Eases Alcohol Restrictions for Foreign Residents, Signaling Potential Policy Shift

Saudi Arabia Eases Alcohol Restrictions for Foreign Residents, Signaling Potential Policy Shift

Saudi Arabia is reportedly easing its strict alcohol bans, allowing an unmarked store in Riyadh to discreetly sell alcohol to affluent foreigners. This development, reported by the New York Times, indicates a potential shift in the Kingdom's conservative policies as it seeks to attract international appeal. The store, which lacks an online presence, sells alcohol to those with 'premium residency,' a program designed to attract skilled foreign nationals. Bloomberg reports that entry to the store requires proof of a monthly salary exceeding 50,000 riyals. This move aligns with Saudi Arabia's broader strategy to balance religious conservatism with global expectations, as it diversifies its economy beyond oil dependency.

IHG Hotels Resorts Partners with SEDCO Capital to Launch Hotel Indigo in Jeddah

IHG Hotels Resorts Partners with SEDCO Capital to Launch Hotel Indigo in Jeddah

IHG Hotels & Resorts has signed a management agreement with SEDCO Capital to launch Hotel Indigo Grand Square Jeddah. This 150-key lifestyle hotel marks the first collaboration between the global hospitality group and the Saudi real estate investment fund. The hotel will be a central component of the Grand Square mixed-use development on King Abdulaziz Road in Jeddah. The project is developed through a strategic partnership involving Ajdan Real Estate Development Company, MASIC Investment Company, and SEDCO Capital. Hotel Indigo Grand Square Jeddah aims to introduce a new model of contemporary living by integrating hospitality, retail, and office spaces within one destination. The hotel will reflect the brand's signature design approach, offering guests a neighborhood-inspired stay shaped by the local culture and energy.

Brookfield and Qatar launch $20 billion AI infrastructure joint venture

Brookfield and Qatar launch $20 billion AI infrastructure joint venture

DUBAI/LONDON, Dec 9 (Reuters) - Brookfield and Qai, an artificial intelligence company owned by Qatar's sovereign wealth fund, have formed a $20 billion joint venture to develop artificial intelligence infrastructure in Qatar and select international markets, the two groups said Tuesday.

Hollywood-hungry Gulf states bankroll Paramount's Warner Bros bid

Hollywood-hungry Gulf states bankroll Paramount's Warner Bros bid

By Federico Maccioni and Rachna Uppal ABU DHABI, Dec 9 (Reuters) - Paramount Skydance's addition of three Gulf sovereign wealth funds to the cast of its $108 billion hostile bid for Warner Bros Discovery marks a relatively rare alliance among the states as they build their own entertainment

Aleph Hospitality Secures Tapestry Collection by Hilton for New Hotel in Saudi Arabia

Aleph Hospitality Secures Tapestry Collection by Hilton for New Hotel in Saudi Arabia

Aleph Hospitality, a leading independent hospitality management company in the Middle East and Africa, has announced the acquisition of the Tapestry Collection by Hilton brand for a new hotel in Dammam, Saudi Arabia. This upcoming 84-key hotel, owned by AREA Investment and Real Estate, marks Aleph Hospitality's third Tapestry Collection property under management. The hotel is scheduled to open in 2027 and will be part of Hilton's portfolio of independent boutique hotels, known for their cultural charm and unique experiences. The hotel will also participate in Hilton Honors, the company's guest loyalty program.

ALPTech Expands Middle East Presence with New Office in Riyadh

ALPTech Expands Middle East Presence with New Office in Riyadh

ALPTech, a global provider of data science and risk analytics services, has opened a new office in Riyadh, Saudi Arabia. This expansion is part of the company's strategic plan to tap into the rapidly growing AI economy in the region. Co-Founder and Senior Partner Ashwani Roy highlighted the move as a commitment to the Saudi market, which is becoming a global testbed for large-scale data solutions. The Riyadh office will be led by Co-Founder Sharad Gupta, who will relocate to oversee operations. The firm aims to meet the increasing demand for its services in the finance and investment sectors.