RIYADH: Telecommunications major stc Group has been named the best workplace in Saudi Arabia by the professional networking platform LinkedIn. According to a press statement, the firm was followed in second place by hospitality giga-project Red Sea Global, with energy giant Saudi Arabian Oil Co., also known as Aramco, ranked third. Motor vehicle manufacturing company Ceer … Read more
RIYADH: One of the region’s leading optical retail chains, Magrabi Retail Group, reported double-digit growth in 2023, highlighting its adaptability in a rapidly evolving market landscape. The company witnessed a 15 percent surge in total sales compared to the previous year, and a 30 percent increase in like-for-like sales under its Doctor M banner, surpassing previous … Read more
LONDON: Abu Dhabi’s state-backed investment firm MGX is in early stage discussions to invest in ChatGPT-maker OpenAI’s chip venture, the Financial Times reported on Friday, citing two sources. MGX, a technology investment company with Abu Dhabi’s Mubadala and artificial intelligence firm G42 as founding partners, was only launched earlier this week. MGX and OpenAI did … Read more
RIYADH: Saudi Arabia’s dynamic business environment is continuously drawing attention from international companies, and now Estonian ride-hailing giant Bolt is looking to expand its operations in the Kingdom. Established in 2013, the company has become a prominent player in the global mobility industry, operating in 45 countries and 500 cities, with a current valuation of €7.4 … Read more
RIYADH: The Saudi capital finds itself in global competition with cities like New York and Tokyo for a skilled workforce, according to its mayor. With a population exceeding 7 million, the city is experiencing an ongoing transformation as it becomes a hub for attracting talent and boosting entrepreneurship. In an interview with Arab News at … Read more
PARIS: France and Qatar have sealed a strategic partnership under which Qatar has agreed to channel €10 billion ($10.85 billion) into start-ups and investment funds in France between 2024 and 2030, the French presidency said in a statement. The investments “to the mutual benefit of both countries” will target key sectors ranging from energy transition, semiconductor, aerospace, artificial intelligence, … Read more
RIYADH: Saudi Arabia’s 5G coverage is almost double the global average of 42 percent thanks to “really good operators that have high demands,” according to a senior industry executive. Speaking to Arab News, Pekka Lundmark, CEO of telecommunications firm Nokia, underlined how the Kingdom’s 77 percent coverage rate marks it out compared to several parts … Read more
RIYADH: Innovation is a priority for HSBC Saudi Arabia as it aims to enhance its offerings, according to the bank’s CEO. Faris Al-Ghannam, CEO and board member of HSBC Saudi Arabia, provided a comprehensive overview of the financial institution’s prospective plans, along with the Kingdom’s economic landscape and the investment opportunities it presents. In an … Read more
RIYADH: Achieving global power security is everyone’s responsibility, according to Saudi Energy Minister Prince Abdulaziz bin Salman. Speaking at the International Petroleum Technology Conference in Dahran on Feb. 12, the minister said that the Kingdom is continuously working toward ensuring market stability. He added that Saudi Arabia has significant surplus oil production capabilities. “We are … Read more
Saudi Arabia emerging as a ‘continent in itself’ with array of tourist destinations, forum hears RIYADH: Saudi giga-projects are shifting the country’s image from a religious destination to a multifaceted tourism hub, real estate experts claimed at special event in Riyadh. Driven by the “clear vision” of Crown Prince Mohammed bin Salman, the nation is … Read more