Business & Money | Monday 7 September, 2026 8:00 am

Energy Ministry, MODON sign MoU to establish natural gas compression plant in Dammam

The Ministry of Energy signed a memorandum of understanding (MoU) with the Saudi Authority for Industrial Cities and Technology Zones (MODON) on Sept. 6 to establish a natural gas compression and tanker distribution plant at the Third Industrial City in Dammam. The ministry was represented by...

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Business & Money | Thursday 3 September, 2026 1:51 pm

NWC Concludes a Contract to Rehabilitate, Operate, and Maintain 9 STPs in 4 Regions at SR +1.3 billion

Today, September 1st, 2026, the National Water Company (NWC) signed the tenth package of long-term operation and maintenance contracts (LTOMs) with a Saudi-Chinese consortium for the rehabilitation, operation, and maintenance of 9 environmental treatment plants (STPs) for a period of 15 years in 4...

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Business & Money | Thursday 3 September, 2026 1:46 pm

SAIB to sell entire stake in American Express Saudi Arabia for SAR 1.43B

The Saudi Investment Bank (SAIB) has signed an agreement with American Express Middle East to sell its entire 50% stake in American Express Saudi Arabia for SAR 1.43 billion ($381.36 million), in addition to a deferred purchase consideration, in accordance with the shareholders’ agreement between ...

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Business & Money | Thursday 3 September, 2026 1:44 pm

Saudi Ministry of Investment signs deal to localize offshore drilling rig manufacturing

The Ministry of Energy said the Ministry of Investment and Saudi Aramco Rowan Offshore Drilling Co. (ARO) have signed an agreement to support the localization of offshore drilling rig manufacturing in Saudi Arabia. The agreement aims to localize the offshore drilling rig business by...

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Business & Money | Wednesday 2 September, 2026 3:27 pm

LEAP 2026 sees over $2.5B investments in 2nd day

The second day of LEAP 2026 saw the announcement of investments and launches worth approximately $2.5 billion in total, Saudi Press Agency (SPA) reported. The announcements covered data centers, cloud services, technology localization, and research and development, reinforcing Saudi Arabia’s ...

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Business & Money | Wednesday 2 September, 2026 2:48 pm

Saudi Arabia is outpacing global peers in AI and digital health adoption, says EY MENA’s new report, launched at LEAP 2026

 Saudi Arabia has emerged as a global frontrunner in the adoption of digital health and artificial intelligence (AI), according to the new EY report “Navigating the Future of Health in Saudi Arabia”. Launched today at the LEAP 2026 conference in Riyadh, the research reveals that a young,...

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Business & Money | Wednesday 2 September, 2026 10:17 am

NDMC completes USD 3.25B international sukuk issuance arrangements

The National Debt Management Center (NDMC) completed arrangements for an international issuance of US dollar-denominated Saudi government sukuk under the Saudi Government’s International Sukuk Issuance Program, structured on an Ijarah basis. This marks the Saudi government’s second...

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Business & Money | Tuesday 1 September, 2026 2:00 pm

Saudi Tourism Authority names Ageel Alshaibani as CEO

The Saudi Tourism Authority’s board appointed Ageel Alshaibani as CEO, effective today. Alshaibani previously served as Deputy Minister of Tourism for Strategic Planning and Monitoring, where he contributed to the development and implementation of the National Tourism Strategy. He was...

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Business & Money | Tuesday 1 September, 2026 12:07 pm

MIS secures SAR 301.2M purchase orders from MOMAH

Al Moammar Information Systems Co. (MIS) received two purchase orders from the Ministry of Municipalities and Housing (MOMAH) worth SAR 301.2 million, including VAT, on Aug. 31, 2026. The company said in a statement to Tadawul that the purchase orders are for providing information systems ...

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Business & Money | Tuesday 1 September, 2026 10:29 am

HUMAIN Partners with DataVolt to Jointly Develop 100MW of a 360MW AI Data Center Project in NEOM

HUMAIN, a PIF company delivering full-stack artificial intelligence capabilities globally, and DataVolt, a Saudi-based developer and operator of sustainable digital infrastructure, today announced at LEAP an expanded partnership to develop 100MW of the 360MW AI-ready data center at Oxagon,the...

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