Industry

Saudi Arabia’s Public Investment Fund (PIF) has been recognized as the world’s top sovereign wealth fund in brand value for the second year in a row, according to Brand Finance. The fund’s brand value reached $1.2 billion, marking an 11% increase from the previous year’s figure, as reported by Brand Finance. Brand Finance’s annual assessment highlighted the PIF’s A+ brand...

Va Tech Wabag, an Indian water technology company, has secured a major contract to build a 300 million litres per day (MLD) seawater reverse osmosis desalination plant in Yanbu, Kingdom of Saudi Arabia, according to the Saudi Water Authority (SWA). The project, valued at approximately $272 million (₹2,332 crore), will be constructed on a new site along Saudi Arabia’s west...

WeRide has become the first company to receive approval for operating autonomous robotaxis in Saudi Arabia, with initial trials set to launch in Riyadh. The project is a collaboration with Uber and Ai Driver, aiming for full commercial service by year’s end, according to company statements. This marks Saudi Arabia’s debut in autonomous taxi pilots, as no such permits had...

Saudi Arabia’s Minister of Industry and Mineral Resources, His Excellency Bandar Al-Khorayef, met with leading figures from the American private sector in Chicago to strengthen ties in industry and mining. The discussions, held at World Business Chicago, centered on expanding investment and fostering sustainable economic partnerships between Saudi Arabia and the United States. His Excellency Bandar Al-Khorayef highlighted the robust...

The market for miniature circuit breakers (MCBs) and modular switches in Saudi Arabia is expected to see strong growth from 2020 to 2039, according to Global Data Route Analytics. This expansion is fueled by large-scale infrastructure projects, urban development, and the push for smart buildings across the country. MCBs are essential for electrical safety, preventing overloads and short circuits, while...

Elon Musk’s artificial intelligence company xAI is exploring a possible expansion into Saudi Arabia, according to Bloomberg. The company is in talks to lease data center space in the Kingdom, drawn by the region’s low electricity costs and favorable regulatory landscape. xAI has reportedly engaged with Humain, an AI firm supported by Saudi Arabia’s Public Investment Fund. Humain has ambitious...

Saudi Arabia has experienced a dramatic rise in mega-projects, increasing by 643 percent since 2010—from 64 to 476 projects by 2025—according to a report from UK-based consultancy Mace. This growth places the Kingdom among the top three countries globally for large-scale developments. The report, titled The Future of Major Programme Delivery, defines mega-projects as those valued at $1 billion or...

Saudi Arabia’s Capital Market Authority (CMA) has introduced new regulatory changes to boost the investment fund sector, according to the Saudi Gazette. The updates cover investment fund regulations, real estate investment fund rules, and related definitions. These changes are designed to strengthen the asset management industry, align with global standards, and improve investor protection. Key enhancements include expanding the range...

Nokia, in partnership with the Communications, Space & Technology Commission (CST) of Saudi Arabia, ACES NH, Mobily, and Zain Saudi, has successfully completed the Kingdom’s first pilot of 5G Standalone (5G SA) indoor coverage using shared spectrum in the 4.0-4.1 GHz band. This approach enables high-speed 5G inside offices, hotels, and public spaces regardless of the customer’s mobile operator, according...

Saudi Arabia’s Minister of Industry and Mineral Resources, His Excellency Bandar Alkhorayef, held talks in Moscow with Mr. Anton Alikhanov, Russia’s Minister of Industry and Trade, focusing on expanding collaboration in industrial development, manufacturing, and mining. According to the Saudi Gazette, the two ministers discussed leveraging Russian expertise in sectors such as heavy equipment, agricultural machinery, chemicals, automotive, and advanced...