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17/08/2026

Saudi Arabia and seven other Arab and Islamic countries have condemned Israel’s rejection of a proposed road map aimed at completing the implementation of US President Donald Trump’s Comprehensive Plan to End the Gaza Conflict, which was endorsed by UN Security Council Resolution 2803.

In a joint statement, the foreign ministers of Saudi Arabia, Egypt, Jordan, Pakistan, Indonesia, Türkiye, Qatar, and the UAE also criticized Israel’s rejection of Palestinian statehood.

The ministers said Israel’s positions undermine the peace plan, threaten its implementation, and weaken international efforts to achieve a just and lasting peace in Gaza and the wider Occupied Palestinian Territory. They added that Israel’s stance places responsibility on it for obstructing efforts to advance peace.

12/08/2026

Inventure Group Leads Global Consortium for $5B+ Medical Cities

Inventure Group, led by Chairman & CEO Karim Nakhle, finalise with PM & Government,the working group for immediate implementation of the $5B+ Foreign Direct Investment (FDI) project establishing Egypt’s International Medical Cities (EIMC). Driven by Presidential Directive No. 7088 issued by President Abdel Fattah El-Sisi to Inventure Group for the development of the New Administrative Capital Medical City (CADMED - $2.8B) and the North Coast Medical City (NCMC - $2.5B) in New Alamein and others.

High-level meetings were held at the Prime Ministry and Ministry of Health with:
H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt
H.E. Dr. Khaled Abdel Ghaffar, Deputy PM & Minister of Health and Population
H.E. Randa El Manshawi, Minister of Housing and Urban Planning
General Walid Aref & General Dr. Ashraf El Arabi (Engineering Authority of the Armed Forces)
Dr. Mohamad Abdel Ghaffar, President of GOTHI
Dr. Sherif Mostafa, Deputy Minister of Health
Diplomatic Presence:
Ms. Mona Badawi (British Embassy for Healthcare & Education Affairs)
Mr. Damiano Fior (First Secretary, Italian Embassy)
Project Highlights:
Inventure Group as Master Developer leads infrastructure, digital, construction, and operation alongside the Egyptian Government, Ministry of Health, and GOTHI.
🔹 CADMED Scope: 5,000 beds, 18 international specialized hospitals, 1 general hospital, 1 central hospital, 1 AI & medical university, 1 medical datacenter, 1 simulation center, 3 Hotels.
🔹 NCMC (North Coast Medical City): 4,000 beds, 15 international specialized hospitals, 1 general hospital, 1 central hospital, 1 AI & medical university, 1 medical datacenter, 1 simulation center, 5 Hotels. Both projet Target 3M+ medical tourists annually.
🔹 Allocated beds to support Egypt’s Universal Health Insurance System for citizens.
🔹 Consortium Partners: HDH, HDH Investments, IIG Investments, InfraNexus, Pizzarotti, AVIC, CSEC, The Advisory Group, ICB, MV Project, Inventure Capital, Inventure Medical, Inventure Digital Group, Inventure Education, Finnish British Consortium, MTS/Inspur, with Italian,British, Chinese & international Operators.

02/08/2026

Al Moammar Information Systems Company (MIS) has renewed its credit facility from Saudi Awwal Bank to support new projects.

The facility is valued at almost 420 million Saudi riyals ($111.78 million), the company said in a statement to the Saudi stock exchange.

The credit facility, valid until July 28, 2027, will also be used to provide letters of credit and guarantees.

The facility is backed by promissory notes equivalent to the total facility limit, the statement said.

Last week, MIS signed a memorandum of understanding (MoU) with Saudi Fransi Capital, acting on behalf of Saudi Data Center Fund 1, to study the development of three additional data centres across the kingdom.

22/06/2026

Russia's seaborne exports of fuel oil and vacuum gasoil (VGO) fell by about 6% month-on-month to 3.2 million ⁠metric tons in May, as Ukrainian drone strikes on infrastructure ‌curtailed output and shipments, data from traders and LSEG showed.

Saudi Arabia remained a key destination for fuel oil and VGO as high summer temperatures boosted air-conditioning demand, but shipments there were down 17% from April to 1.23 million tons, Reuters calculations based on the data showed.

Increased export ⁠volumes in recent months were driven by disruptions linked to the Iran war, which reshaped flows and lifted demand for crude oil, as well as a temporary waiver on U.S. sanctions on Russian oil products, ‌traders said.

03/05/2026

Saudi Arabia: Saudi Reinsurance Company “Saudi Re” reported a net profit after Zakat of SAR 46.7 million in the first quarter of 2026, representing a 32% increase compared to SAR 35.4 million in the corresponding period of the previous year. The first quarter results were driven by resilient underwriting and positive investment returns.

Insurance revenue in Q1 2026 recorded a significant 73% year-on-year increase, reaching SAR 560 million. Continued expansion across various lines of business in Saudi Arabia and international markets supported this growth. Gross Written Premiums in Q1 2026 jumped by 37% to SAR 2.38 billion, up from SAR 1.74 billion in the same period last year.

Commenting on the results, Saudi Re CEO Ahmed Al-Jabr, stated: “The strong results achieved in the first quarter reflect Saudi Re’s disciplined underwriting approach and prudent investment strategy. Saudi Re has maintained its balanced business model, focusing on improving net income while expanding the scope of its operations.”

29/04/2026

The Saudi Central Bank (SAMA) licensed “Dufaa Company For financing” to provide consumer finance. This addition brings the total number of finance companies licensed by SAMA to 73.

This decision reflects SAMA’s endeavor to support and enable the finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's website.

22/04/2026

Riyadh, Saudi Arabia – Ashmore Investment Saudi Arabia, a Capital Market Institution (CMI) licensed by the Saudi Capital Market Authority, operates in advising, arranging, managing investments, and running funds. Through its management of the Education Investment Fund, the firm has completed its second acquisition, reinforcing its long-term commitment to supporting the Kingdom’s education sector in line with Saudi Vision 2030.

The latest deal, known as Project Oasis, includes the acquisition of two schools—Matrix International Schools and Wahat Al Alson School—both offering international curricula in eastern Riyadh, specifically in the Al Salam and Al Manar districts. This move marks a significant step in Ashmore’s strategy to build a leading K–12 education platform in Saudi Arabia, responding to growing demand driven by population trends and supporting national reform goals.

21/04/2026

A flagship Saudi-Egyptian joint venture Paragon Adeer has unveiled Sumou Boulevard, a landmark mixed-use development, and the first flagship investment by Sumou Investment in the Egyptian market.

Strategically located in Mostakbal City, New Cairo, Sumou Boulevard spans over 500,000 sqm, with a total investment of EGP70 billion ($1.35 billion) and projected revenues exceeding EGP 100 billion. The development brings together residential, commercial, hospitality, and retail components within a fully integrated urban ecosystem designed to meet the evolving needs of modern city life.

The project represents a major milestone in Saudi-Egyptian economic collaboration, bringing together Adeer International, the investment arm of Saudi Arabia’s Sumou Holding, and Egypt’s Paragon Developments to deliver a large-scale urban destination in New Cairo.

16/04/2026

MGB, a leading construction, property development and industrialised building system (IBS) precast concrete manufacturer, said it has secured a key contract from leading Saudi developer Roshn for the construction of 75 villas at its mixed-use development Marafy being set up under its Al Arous Development Project.

Located in the north of Jeddah, Marafy will accommodate more than 130,000 residents with a manmade canal at its heart – the first of its kind in Saudi Arabia.

On completion, Marafy's canal, which runs 11km long and 100m wide, will connect and extend the Obhur Creek. This navigable canal is the first to be built in Saudi Arabia, and will be flanked by multiple districts, including Roshn’s Al Arous.

09/04/2026

The Saudi Investment Bank (SAIB) is planning to issue Saudi riyal-denominated Additional Tier 1 (AT1) capital sukuk through a private placement in the Kingdom, as part of its SAR 5 billion sukuk programme.

The issuance is aimed at strengthening the bank’s AT1 capital base and supporting its broader financial and strategic goals.

SAIB holds credit ratings of A2 from Moody’s, A- from Fitch Ratings, and BBB+ from S&P Global Ratings, all with stable outlooks.

The bank has appointed Alistithmar for Financial Securities and Brokerage Company and Al Rajhi Capital as joint lead managers and bookrunners for the potential issuance.

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