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Saudi Arabia has finalized the transfer of ownership of the Kingdom’s $10 billion King Abdullah Financial District in the capital city to the finance ministry and the Public Investment Fund (PIF). “It is a transfer (of ownership), not a transaction. The Ministry of Finance will take legal ownership and PIF will have the operating rights,” […]

The Council of Economic and Development Affairs (CEDA), unveiled the $34.6 billion Quality of Life Program 2020, an initiative to promote entertainment, health, sports, education and other activities that contribute to the quality of life, job creation, as well as to encourage investment opportunities and diversification of economic activities, while raising the status of Saudi […]

Saudi Arabia’s Public Transport Authority (PTA) published regulations for licensed female cab operators while providing transportation services to families, according to reports from Al-Madina newspaper. Female chauffeurs providing family transportation services must be a Saudi national with a legal driving license and free from criminal records and any contagious disease. The female cab drivers of […]

Custodian of the Two Holy Mosques King Salman officially launched Qiddiya on Saturday in a glittering ceremony in the presence of Crown Prince Muhammed bin Salman, Deputy Prime Minister, Minister of Defence and Chairman of the Public Investment Fund, as well as several princes, ministers and a distinguished audience of 300 dignitaries from around the […]

The emir of Makkah and advisor to the Custodian of the Two Holy Mosques, Prince Khaled Al-Faisal, issued a ministerial decree that Saudi citizens, both men, and women, employed in the private sector in all governorates across the province must wear traditional Saudi attire at workplaces. He also assigned the Ministry of Labor and Social […]

The Saudi Arabian stock market escalated to a 32-month high as Tadawul All-Shares Index (TASI) closed trading at 8,050.30 points on Monday. TASI rose to more than the psychologically important 8,000-point mark for the first time since August 2015 and analysts credited this surge to the confidence investors gained from higher oil prices and easing […]

Saudi Arabia is on the run to achieve its dream economic transformation plan, Vision 2030, and is undertaking several reforms to diversify its economy and one major focus is on the tourism and entertainment sector. A panel of experts who are set to meet at the Euromoney Saudi Arabia Conference on 2-3 May 2018 noted […]

As part of Crown Prince Muhammed bin Salman’s Paris visit, 20 economic pacts worth $18 billion were signed between Saudi Arabia and France, reported Al Arabiya TV. MoUs were inked between Saudi And French companies in several sectors including energy, petrochemicals, trade, aviation, water treatment, tourism, health, agricultural and cultural activities. State-owned oil giant Saudi […]

Saudi Arabia will open its first cinema in over three decades on April 18 in Riyadh, after the ban on cinema was lifted last year as part of the Kingdom’s liberalization drive. Last year, Saudi Arabia’s Public Investment Fund (PIF) partnered with US movie exhibition company AMC Entertainment Holdings to explore and invest in cinema […]

Saudi Arabia’s Public Investment Fund (PIF) signed an agreement with globally renowned amusement park company, Six Flags, to design and develop a Six Flags-branded amusement park in Riyadh amid wide-ranging social reforms in the Kingdom. Six Flags will design, develop and license the Six Flags brand for Qiddiya, the Kingdom’s first entertainment, sports and cultural […]