Author: Editorial Team
RIYADH — The General Authority for Statistics revealed on Tuesday that net foreign direct investment (FDI) inflows into Saudi Arabia declined by 2.4 percent year-on-year during the first quarter of this year, reaching SR 23.1 billion, compared with SR23.7 billion in the same quarter of 2025. The authority added that net inflows also fell by 51.9 percent compared with the fourth quarter of 2025, when they reached SR48 billion. Meanwhile, statistical data showed positive growth in total foreign direct investment (FDI) inflows into the Saudi economy during the first quarter of 2026, which rose to SR26.6 billion, marking a 2.4…
RIYADH — The Public Investment Fund’s consolidated net profit surged by 152 percent in 2025, reaching SR65.1 billion, compared with SR25.8 billion in the previous year. The strong growth was driven by higher revenues, improved overall operational performance, lower administrative expenses, and a stronger contribution from associated companies to profits. The fund’s consolidated financial statements, published on the London Stock Exchange on Tuesday, showed that net profit attributable to shareholders of the parent company also rose sharply to SR46.4 billion, compared with SR11.2 billion in the previous year—nearly four times its earlier level. This reflects the improved efficiency of the…
Data Ce Source: Riyadh Daily
(R) Dr. Moataz BinAli, Chief Executive Officer of Magna AI. Magna AI, Inc., the global integrated-value-chain sovereign AI transformation leader established through a partnership between Trend Micro and Wistron Digital Technology Holding Company (WDH), powered by NVIDIA, recently announced a strategic collaboration with Emaar Executive Company (EEC), a Saudi-based company specialising in data center construction, Engineering, Procurement and Construction (EPC), systems integration, and infrastructure services. The agreement is designed to support the planning, development, and delivery of sovereign AI data centers, AI Factory infrastructure, secure AI platforms, and large-scale AI transformation programs across Saudi Arabia, with the potential to extend…
RIYADH — Saudi Arabia has raised Saudization rate in engineering professions in the private sector to 30 percent effective from Tuesday, June 30, 2026. The Ministry of Human Resources and Social Development (HRSD), in cooperation with the Ministry of Municipalities and Housing, announced the implementation of this decision, which is applicable to establishments employing five or more workers in the covered professions. The decision targets 46 engineering professions, including architecture, power generation, industrial, electronics, automotive, marine, and aerospace engineering, that required professional accreditation from the Saudi Council of Engineers. HRSD supervisory teams have begun monitoring compliance across establishments, with statutory…
NEW YORK — The Islamic Military Counter Terrorism Coalition (IMCTC), led by Secretary General Maj. Gen. Mohammed Al-Moghedi, participated in the Fourth United Nations High-Level Conference on Counter-Terrorism, which opened at the United Nations headquarters in New York. IMCTC’s participation in this prominent international conference reflects its ongoing role in enhancing international cooperation and unifying efforts to combat terrorism and extremism in all their forms. It also reinforced strategic partnerships with international organizations and member states, contributing to the development of effective policies and practices to address terrorist threats and enhance regional and international security and stability. The opening session…
Bilal Baig, Vice President, Solutions Engineering, TrendAI. Artificial intelligence is redefining enterprise operations, creating new opportunities for innovation while introducing increasingly complex cybersecurity challenges. The official launch of TrendAI in the UAE marks a significant milestone in helping organisations navigate this new era by combining AI-driven security, governance and threat intelligence into a unified platform. Rapid adoption of generative and agentic AI across the Gulf is expanding the enterprise attack surface, making visibility, accountability and risk management more critical than ever. In this interview, Bilal Baig, Vice President, Solutions Engineering, TrendAI, shares his perspectives on the governance gaps organisations must…
As Source: Riyadh Daily
DOHA — Iran-Qatar talks on Wednesday will cover the implementation of Tehran’s agreement with the United States, as well as its frozen assets, Iranian Foreign Ministry Spokesperson Esmaeil Baghaei said on Tuesday. According to Baghaei, the Iranian technical negotiators will focus strictly on consultations with Qatari officials on points of the framework deal, the release of Iran’s frozen assets and the lifting of sanctions on Iranian oil exports at the forefront of the talks. “What will probably take place in Doha tomorrow is a discussion with the Qatari side on the implementation of some provisions of the memorandum of understanding,…
From the left: Mr. Dennis Tam, President and CEO of Black Spade and Mr. Jonathan Emery, CEO of Aldar Development. Black Spade Capital Limited (“Black Spade”) is proud to support Jonathan Emery, CEO of Aldar Development, one of the largest developers in the UAE, as he joins a team of riders taking on a remarkable 3,333km cycling challenge from Barcelona to Paris in support of CycleAgainstCancer, in aid of the Al Jalila Foundation. The 25-day charitable endurance challenge will see a team of 15 riders from the UAE cycle through Spain and France, covering over 54,000 metres of elevation to…