Business & Money | Monday 20 April, 2026 3:36 pm

Dammam Sports City project worth SAR 1B signed during SIF 2026

A number of agreements were signed on the first day of the Sports Investment Forum 2026 (SIF 2026), including the Dammam Sports City project with a deal between the Sharqia Development Authority (SDA) and Dammam Valley Co. The Dammam project boasts investment of up to SAR 1 billion. The...

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Business & Money | Sunday 19 April, 2026 11:24 am

Acwa, SPPC sign SAR 11.5B PPA for Rabigh 2 power plant expansion

ACWA Power (Acwa) signed a power purchase agreement (PPA) with Saudi Power Procurement Co. (SPPC), valued at SAR 11.5 billion. The deal covers the Rabigh 2 independent power plant expansion, a combined-cycle gas-fired project located in Makkah, with a generation capacity of 2,313.5 megawatts...

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Business & Money | Thursday 16 April, 2026 10:26 am

PIF Governor says no projects canceled in NEOM so far

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), stated that no project within NEOM has been canceled so far, adding that the master developer has been directed to reprioritize its plans. He told Al Arabiya TV that there is a common misconception that The Line represents...

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Business & Money | Wednesday 15 April, 2026 3:08 pm

Crown Prince approves PIF’s 2026-2030 strategy

The Public Investment Fund (PIF), chaired by Crown Prince Mohammed bin Salman, approved its 2026–2030 strategy, according to the Saudi Press Agency. The strategy builds on PIF’s long-term plan, with a focus on developing globally competitive domestic economic ecosystems,...

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Business & Money | Wednesday 15 April, 2026 10:29 am

Saudi Arabia resilient to economic shocks: Al-Jadaan

Saudi Arabia remains capable of managing economic shocks, and maintaining economic stability, Finance Minister Mohammed Al-Jadaan said at a roundtable during the IMF-World Bank Spring Meetings in Washington. The Kingdom continues to implement structural reforms that support economic...

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Business & Money | Wednesday 15 April, 2026 10:26 am

Saudi Energy acquires stake in Kraken Tech, forms joint venture in Riyadh

Saudi Energy Co. signed a definitive agreement to establish a strategic partnership with Kraken Technologies Ltd., a global company specializing in AI-powered digital operations solutions for the utilities sector. The deal includes the creation of a joint venture based in Riyadh, as well as...

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Business & Money | Tuesday 14 April, 2026 8:00 am

Al-Khorayef visits Ras Al-Khair Port, inspects Maaden facilities, RCJY ops center

Minister of Industry and Mineral Resources Bandar Al-Khorayef visited Ras Al-Khair Port, several facilities owned by Maaden, and the Royal Commission for Jubail & Yanbu’s (RCJY) operations center in Ras Al-Khair Industrial City for Mining. The visit came with the aim to assess the...

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Business & Money | Monday 13 April, 2026 8:00 am

Al-Saif inaugurates Lenovo regional HQ in Riyadh

Investment Minister Fahd Al Saif inaugurated today, April 12, Lenovo’s regional headquarters (HQ) for the Middle East, Turkey, and Africa in Riyadh. This comes as part of Saudi Arabia’s push to boost its appeal as a hub for global companies. The minister said the move reflects the success...

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Business & Money | Sunday 12 April, 2026 10:12 am

ADES extends offshore rig contract in Nigeria; adds SAR 178M to backlog

Ades Holding Co. secured a one-year extension for the jack-up offshore rig Shelf Drilling Scepter contract with Chevron Nigeria, with an additional one-year extension option that remains unpriced. In a statement to Tadawul, the company said the extension adds around SAR 178 million (about...

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Business & Money | Thursday 9 April, 2026 8:00 am

Soudah Development Highlights Sustainable Achievements in 2025 Report Release

Soudah Development, a Public Investment Fund company, chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has announced the release of its Sustainability Report 2025, which tracks progress from October 2024 to September 2025. This report...

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