News
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Posted On NewsPIF’s Humain seeks data centre chief for Saudi AI plan
Humain, Saudi Arabia’s national artificial-intelligence company backed by the Public Investment Fund, is hiring a head of data centre estates as it moves from headline-grabbing deals…
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Posted On NewsJabal Omar secures $533m to refinance existing debt
Saudi-listed Jabal Omar Development Company has secured new Islamic funding to refinance its existing debt on better terms. The developer raised SAR2 billion ($533 million) from Alrajhi Bank,…
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Posted On NewsSaudi wealth fund cuts $2bn from US stock holdings
Saudi Arabia’s Public Investment Fund (PIF) pared its exposure to US-listed equities in the second quarter, shedding nearly $2 billion in holdings. The $913 billion…
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Posted On NewsDrake & Scull reports rising profit as revenue doubles
Dubai contractor Drake & Scull International (DSI) increase its net profit by more than 70 percent in the first half of 2025, driven by a…
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Posted On NewsInvestors may question Alrajhi’s stock price premium
Second-quarter net profit at Alrajhi Bank rose a hefty 31 percent year on year, the biggest increase among major Saudi lenders. Net interest and investment income grew…
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Posted On NewsFlynas attributes large quarterly loss to IPO costs
Saudi Arabian budget airline Flynas has reported a quarterly net loss of almost a billion riyals ($270 million). The airline attributed the loss to costs associated with its…
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Posted On NewsRed Sea coral to get extra protection from tourists
Saudi Arabia has vowed to implement a series of measures to protect its Red Sea coral reef over the next five years as it pushes…
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Posted On NewsMaaden records huge earnings jump of 73%
Saudi mining major Maaden has reported an earnings increase of almost three quarters, driven by lower finance costs, income tax and severance. Net profit surged 73 percent…
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Posted On NewsThe Gulf’s $100 billion AI gamble is just getting started
OpenAI CEO Sam Altman visited Abu Dhabi in early 2025, for talks with AI fund MGX. It was a business meeting that signalled a profound…
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Posted On NewsYanbu port to be expanded with bunkering facility
Saudi Arabia is to build a new marine bunkering hub at King Fahad Industrial Port in Yanbu on the Red Sea coast as part of…
Liyana Parker
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