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Saudi Arabia’s Healthcare Industry Goes Digital

CAIRO: Saudi Arabia is leading the digitalization wave in the wellness space by improving quality care, patient experience, and sustainable health development on par with the best in the world. The Kingdom aims to restructure the health sector by enhancing its capabilities as an effective, integrated, value-based ecosystem focused on the patient’s health.
Business

ADNOC Drilling Expands Fleet to Achieve $3bn Revenue by 2023

RIYADH: On the back of a strong first-quarter performance, ADNOC Drilling plans to go big on its expansion strategy as it eyes 20 percent year-on-year growth in revenue this year.  As a sole drilling partner to Abu Dhabi National Oil Co., ADNOC Drilling launched a bold fleet expansion program to enable the energy giant achieve its production targets.  In an interview with Arab News, the CEO of the Middle East’s largest national drilling company, Abdulrahman Abdulla Al-Seiari, said they grew the fleet by 16 rigs in 2022, bringing the total to 115. 
Business

Beverly Hills company seeks to develop Saudi Arabian tourist spots

RIYADH: US-based destination marketing company Beverly Hills Conference & Visitors Bureau is exploring partnerships in Saudi Arabia and the Middle East to create and develop tourist-friendly locations.  Speaking to Arab News in Riyadh, Julie Wagner, CEO of BHCVB, said: “We are here to see all the new developments in Riyadh, as Saudi Arabia has been making a lot of inroads in creating a tourism-friendly destination.” 
Business

Saudi-Iraq to Create Economic Zone to Increase Trade

JEDDAH: Saudi Arabia and Iraq on Thursday signed a raft of agreements to boost economic cooperation and develop a special economic zone. The deals were signed during the fifth session of the Saudi-Iraqi Coordination Council in Jeddah. The two sides agreed to identify economic opportunities to boost bilateral trade and investments in various sectors. Following the session, Saudi Commerce Minister Dr. Majid Al-Qasabi said the meeting was an affirmation of the brotherly relations between the two countries and aimed to strengthen the strategic partnership.
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New deal boosts UAE’s e-gaming industry

DUBAI: Abu Dhabi Entertainment Company has signed a deal with PRO Events to launch e-gaming and e-sports events in Abu Dhabi and Al-Ain. The Memorandum of Understanding also leverages both organizations’ talents and resources to help expand the regions’ sports, e-sports and leisure sectors, Emirates News Agency reported on Thursday.   Khalid Al Mutawa, Acting Chief Executive Officer of ADEC, and Rashed Abdulla, General Manager of PRO Events, signed the agreement.
Business

“CMA to List 24+ Firms on Saudi Stock Market by 2023”

RIYADH: Saudi Arabia has more than 24 initial public offerings lined up for 2023 as it seeks to create boost the economy and create financing channels for emerging sectors. A report issued by the Capital Market Authority on Sunday said the Kingdom intends to boost its market’s appeal to foreign investors and increase their ownership as a percentage of the total market value of free float shares to reach 16.5 percent by the end of 2023.
Business

Saudi Industrial Sector Attracts $144 Billion in Foreign Joint Investments

RIYADH: Saudi Arabia is rapidly expanding its industrial sector with foreign and joint investments totaling more than SR542 billion ($144 billion), as the Kingdom continues to diversify its economy.   This value represents 37 percent of the total investment seen in the industrial sector, the Saudi Press Agency reported.   The number of factories with foreign investment in the Kingdom has reached 930, accounting for 9 percent of the total number of factories, the report added.  
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