RIYADH: Ant International, a prominent global provider of digital payment, digitization, and financial technology, has inaugurated a new office in the central business district of Al-Olaya, Riyadh. This expansion comes after the company successfully received technical certification as a Payment Technical Service Provider (PTSP) from the Saudi Central Bank (SAMA). The new office will enable Ant…
All posts tagged Saudi Arabia
Matternet get approval for drone deliveries in Saudi Arabia
RIYADH: Matternet, the world’s leading developer of urban drone delivery systems, announced Monday its M2 drone has been approved for operations in Saudi Arabia. The Kingdom’s General Authority of Civil Aviation (GACA) granted the certification after determining the M2’s Federal Aviation Administration (FAA) Type Certification issued by the U.S. met GACA airworthiness standards. Matternet received…
KSA and UAE lead MENA startup funding with $328.3 million in September
DUBAI: In September 2024, Saudi Arabia and the UAE emerged as the giants of startup funding in the MENA region, according to research by Rasmal, a MENA-focused media agency. The Middle East and North Africa’s burgeoning startup ecosystem secured a substantial $328.3 million across 60 startups, with backing from 36 different investors. This influx of…
Akasa Air commences operations from Riyadh, Saudi Arabia
Akasa Air commenced operations from Riyadh, connecting it to Mumbai with daily direct flights. The inaugural flight on 15th June 2024 departed Chhatrapati Shivaji Maharaj International Airport in Mumbai
Aramco partners with GCT Semiconductor for 5G development in Saudi Arabia
In a move to advance Saudi Arabia’s 4G and 5G infrastructure, Aramco has entered into a strategic partnership with GCT Semiconductor Holding Inc., a prominent player in the 5G and 4G semiconductor arena. The Memorandum of Understanding paves the way for the two companies to collaborate on designing and developing chipsets and modules optimized for…
Informatica launches AI-powered cloud data management in Saudi Arabia
Informatica (NYSE: INFA) has announced the launch of its Intelligent Data Management Cloud™ (IDMC) in the Kingdom of Saudi Arabia. This strategic expansion includes the establishment of a new Point of Delivery (PoD) in Riyadh, marking a significant investment in the region’s cloud-first data management services. This initiative is a testament to Informatica’s support for…
Saudi Arabia to build first Dragon Ball Z theme park in Qiddiya Mega Project
RIYADH: Saudi Arabia has announced the creation of the world’s first Dragon Ball Z theme park. Spanning 5.3 million square feet, this park is the latest addition to the ambitious Qiddiya project near Riyadh. The park will immerse visitors in the universe of the beloved Japanese anime, featuring seven themed areas, over 30 rides—including five…
Saudi Lime Industries acquires Astra Mining for 164.6 million riyals
RIYADH: Saudi Lime Industries Company (SLIC) has signed a conditional binding agreement with Astra Industrial Group (AIG) and Tharawat Mining Company (TMC) to acquire 100% of the shares of Astra Mining Limited Company (AML), a leading producer of quicklime and hydrated lime in Saudi Arabia. The deal, which is expected to be completed within three…
Advanced Petrochemical signs EPC contracts for the first IPA plant in the Middle East
Advanced Petrochemical Company (ADVANCED), a leading producer of polypropylene in Saudi Arabia, announced that its subsidiary, Advanced Polyolefins Industry Company, has signed Engineering, Procurement and Construction Contracts (EPC) with SGC eTEC Co., Ltd. and SGC Arabia Co. Ltd. for the construction of an Isopropanol (“IPA”) plant in Jubail Industrial City, Saudi Arabia. The total contract…
Modern Mills sets IPO price range and kicks off book-building
RIYADH: Modern Mills Company (MMC), a leading milling and nutrition company in Saudi Arabia, has announced the price range for its initial public offering (IPO) of 30% of its share capital, as well as the start of the institutional book-building period. The price range for the IPO has been set at SAR 44 to SAR…
Ocean Aero and Saudi partners launch maritime drone technology
Ocean Aero, a leading developer of autonomous underwater and surface vehicles (AUSVs), has teamed up with INTRA Defense Technologies and MEMR, two prominent Saudi companies, to bring disruptive maritime technology to the region. The partnership, facilitated by Lockheed Martin, will leverage Ocean Aero’s Triton AUSV, the world’s first and only AUSV, to address a variety…
Desert Control enters strategic agreement for the Kingdom of Saudi Arabia
SANDNES, NORWAY: Desert Control AS has entered into an agreement with Holistic Earth Advanced Regeneration Technologies SA (H-EART) to become a licensed operator for production, sales, distribution, and implementation of Liquid Natural Clay (LNC) in the Kingdom of Saudi Arabia (KSA). The agreement marks a significant milestone in Desert Control’s transition to a royalty-based licensed…