海角直播

EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals

EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals
The show will serves as a platform for knowledge exchange, focusing on advancements in battery technology, charging infrastructure, and regulatory developments.聽File
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Updated 16 September 2024

EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals

EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals
  • Exhibition is a central event for the Kingdom鈥檚 expanding EV ecosystem
  • Attendees will have the chance to explore a variety of EVs, charging solutions, and green technologies

RIYADH: The rapidly evolving transport sector in 海角直播 is set for a significant boost with the return of the EV Auto Show to Riyadh, taking place from Sept. 17 to 19.聽

Hosted at the Riyadh International Convention and Exhibition Center, this three-day event aligns with 海角直播鈥檚 Vision 2030, emphasizing its commitment to electric vehicles and sustainable technology.

The exhibition is a central event for the Kingdom鈥檚 expanding EV ecosystem. It brings together key stakeholders, including automotive manufacturers, charging solution providers, policymakers, and consumers, to discuss the future of mobility in the region.

Attendees will have the chance to explore a variety of EVs, charging solutions, and green technologies. The show will feature interactive seminars and panel discussions, allowing participants to engage with industry experts and innovators.

As 海角直播 aims to manufacture and export over 150,000 electric cars by 2026, such events are vital for advancing the shift toward clean technology and sustainable energy sources.聽

The show also serves as a platform for knowledge exchange, focusing on advancements in battery technology, charging infrastructure, and regulatory developments.聽

This exchange is crucial for overcoming current challenges and accelerating the Kingdom鈥檚 transition to electric mobility.

Shift in perception

海角直播鈥檚 EV market is growing, fueled by government initiatives, public-private partnerships, and increasing consumer interest.

Ravi Ravichandran, president of Ford Middle East, told Arab News: 鈥淭he electric vehicles market in 海角直播 is undergoing rapid expansion, largely driven by the Kingdom鈥檚 Vision 2030, which seeks to diversify the economy beyond its traditional reliance on hydrocarbons.鈥

He noted a rise in consumer interest in EVs, citing a recent survey that shows 40 percent of Saudi consumers are considering purchasing one within the next 12 months. This reflects a growing shift away from traditional internal combustion engine vehicles.

Among those surveyed, hybrid vehicles were the most popular choice, followed by plug-in hybrids and pure battery EVs.聽




Ravi Ravichandran, president of Ford Middle East. Supplied

Ravichandran added that nearly one third of Saudis are already exploring the EV market. He also highlighted that 81 percent of respondents reported an improved view of electric vehicles over the past year, with many now perceiving them as sleek, enjoyable to drive, and technologically advanced. This indicates a positive shift in public perception.

Infrastructure development

A significant challenge in promoting EV adoption is the development of a comprehensive charging infrastructure.聽

The Ford executive highlighted that 鈥渞ange anxiety鈥 remains a significant issue for consumers who worry about the availability of charging stations for long trips or daily commutes.聽

To address this, he added: 鈥淭he Saudi government, along with regional stakeholders, is actively working to build a robust charging network.鈥

Electromin is a key player in expanding the charging infrastructure across the Kingdom.

Mark Notkin, chief innovation officer at Electromin, told Arab News: 鈥淭he widespread implementation of fast charging services across Riyadh hinges on several key factors including governmental incentives, EV adoption rates, regulatory approvals, and partnerships with the private sector.鈥澛

These factors will influence the timeline for making fast charging facilities widely available.

Electromin has already installed over 100 chargers across 海角直播, all operated by the company and accessible via its app. The company is focusing on increasing the availability of fast charging services in high-traffic areas, including major malls in Riyadh and Jeddah.




Mark Notkin, chief innovation officer at Electromin. Supplied

Localization and talent development

An essential component of developing a sustainable EV ecosystem is the localization of talent in the infrastructure sector.聽

Vision 2030 is driving companies to invest in training and hiring local professionals.聽

Notkin said: 鈥淭he localization rate of Saudi employees in the EV infrastructure sector is rising, driven by Vision 2030. Companies are increasingly training and hiring local talent in roles such as project management, marketing, and operations.鈥

This growing localization is expected to continue as the sector expands, contributing to job creation and fostering technological expertise in the Kingdom.

Ravichandran also highlighted the job creation potential, and said: 鈥淭he expansion of EV manufacturing, charging infrastructure, and related services will generate significant new job opportunities, playing a crucial role in 海角直播鈥檚 economic diversification.聽

鈥淎s more local talent is employed in the EV sector, this will in turn foster the transfer of advanced technologies, particularly in battery production, charging solutions, and software development.鈥

Creating awareness聽

Increasing consumer awareness about the benefits of EVs is essential for widespread adoption.聽

However, misconceptions continue to pose barriers. Ravichandran said: 鈥淣early one-third of Saudis mistakenly believe EV batteries cannot be recycled, half think EVs require routine oil changes, and one-quarter incorrectly assume that EVs still need fuel to operate.鈥澛

These misconceptions highlight the need for 鈥渢argeted education to inform the public about the realities of owning and maintaining an electric vehicle.鈥

Efforts are underway to enhance consumer understanding of the long-term cost savings associated with EVs.聽 鈥淐onsumers need to understand the long-term cost savings, such as reduced fuel consumption and lower maintenance expenses,鈥 said Ravichandran, adding: 鈥淯nlike traditional internal combustion engine vehicles, EVs have fewer components to maintain, making them a more cost-effective and reliable option over time.鈥

Future outlook

Looking ahead, the Saudi EV market is expected to undergo significant evolution over the next five to 10 years, driven by key developments and innovations.

Ravichandran believes that a 鈥減ivotal focus will be on accelerating the rollout of advanced charging infrastructure, with particular emphasis on integrating cutting-edge technologies to enhance convenience and efficiency for customers.鈥

He also highlighted advancements in local manufacturing capabilities, predicting that innovations in EV production processes and materials will likely drive down costs and increase competitiveness.


Closing Bell: Saudi main index closes in red at 10,770

Closing Bell: Saudi main index closes in red at 10,770
Updated 12 August 2025

Closing Bell: Saudi main index closes in red at 10,770

Closing Bell: Saudi main index closes in red at 10,770
  • Parallel market Nomu lost 91.69 points to close at 26,144.11
  • MSCI Tadawul Index edged down 0.26% to 1,391.13

RIYADH: 海角直播鈥檚 Tadawul All Share Index slipped on Tuesday, shedding 21.98 points, or 0.20 percent, to close at 10,769.66. 

The total trading turnover on the main index reached SR4.08 billion ($1.09 billion), with 94 stocks advancing and 159 declining. 

The Kingdom鈥檚 parallel market Nomu also fell, losing 91.69 points to close at 26,144.11, while the MSCI Tadawul Index edged down 0.26 percent to 1,391.13. 

The best-performing stock on the main market was Red Sea International Co., whose share price jumped 9.96 percent to SR45.72. BAAN Holding Group Co. rose 4.98 percent to SR2.32, while Astra Industrial Group gained 4.71 percent to SR149. 

The share price of Methanol Chemicals Co. dropped by 9.92 percent to SR10.62. 

On the announcements front, Saudi Electricity Co. reported a net profit attributable to common shares of SR1.86 billion after deducting profit attributable to Mudaraba instruments for the second quarter, up 113 percent from SR0.87 billion a year earlier. 

The company鈥檚 net profit before Mudaraba payments stood at SR6.25 billion, compared to SR5.24 billion in the same quarter of 2024, reflecting a 19.26 percent increase. 

The utility鈥檚 share price slipped 0.61 percent to SR14.61. 

First Milling Co. announced it had completed the acquisition of a 100 percent stake in Jeddah-based Al Manar Feed Co. in a deal valued at SR77 million. In a Tadawul filing, the company said the acquisition aligns with its strategy to boost feed production capacity. 

With the purchase, First Milling Co. will add a daily production capacity of 450 tonnes in the feed segment, bringing its total feed output to 1,350 tonnes per day. 

The company鈥檚 share price rose 0.28 percent to SR53.20. 


OPEC projects global oil demand to rise by 1.38m bpd in 2026

OPEC projects global oil demand to rise by 1.38m bpd in 2026
Updated 12 August 2025

OPEC projects global oil demand to rise by 1.38m bpd in 2026

OPEC projects global oil demand to rise by 1.38m bpd in 2026
  • Supply growth from producers outside OPEC+ is trimmed, signaling a tighter market outlook

LONDON: OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the US and other producers outside the wider OPEC+ group, pointing to a tighter market outlook.

The outlook for higher demand and a drop in supply growth from outside OPEC+ would make it easier for OPEC+ to proceed with its plan to pump more barrels to regain market share after years of cuts aimed at supporting the market.

World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year鈥檚 expectation was left unchanged.

In the report, OPEC also increased its forecast for world economic growth slightly this year to 3 percent as President Donald Trump鈥檚 administration signs some trade deals and the economies of India, China and Brazil outperform expectations.

鈥淓conomic data at the start of the second half of 2025 further confirm the resilience of global growth, despite persistent uncertainties related to US-centered trade tensions and broader geopolitical risks,鈥 OPEC said in the report.

Oil supply from countries outside the Declaration of Cooperation 鈥 the formal name for OPEC+ 鈥 will rise by about 630,000 bpd in 2026, OPEC said, down from last month鈥檚 forecast of 730,000 bpd.

OPEC's report said it now expects US output of tight oil, another term for shale, to decline by 100,000 bpd in 2026, versus last month鈥檚 outlook for flat output year on year.

鈥淭he 2026 forecast assumes sustained capital discipline, additional drilling and completion efficiency gains, weaker momentum in drilling activities and increased associated gas production in key shale oil regions,鈥 OPEC said.

OPEC鈥檚 report also showed that in July, OPEC+ raised crude output by 335,000 bpd, a further increase reflecting its decisions this year to increase output quotas.


Cost excellence key to unlock potential of 海角直播鈥檚 mining sector: Alvarez and Marsal

Cost excellence key to unlock potential of 海角直播鈥檚 mining sector: Alvarez and Marsal
Updated 12 August 2025

Cost excellence key to unlock potential of 海角直播鈥檚 mining sector: Alvarez and Marsal

Cost excellence key to unlock potential of 海角直播鈥檚 mining sector: Alvarez and Marsal
  • Kingdom鈥檚 mining and minerals industry is poised for sustainable long-term growth
  • It has already laid strong foundations in the sector

RIYADH: Mining firms operating in 海角直播 should implement disciplined financial planning, transparency, and cost ownership in their operating model to reap long-term benefits, according to an analysis. 

In its latest report, professional services firm Alvarez and Marsal said the Kingdom鈥檚 mining and minerals industry is poised for sustainable long-term growth with committed investments worth SR246 billion ($65.55 billion) supporting the sector. 

The study was released just days after the Kingdom鈥檚 ranking on the Mining Investment Attractiveness Index jumped from 104th in 2013 to 23rd in 2024, cementing the nation鈥檚 status as the world鈥檚 fastest-rising power in the exploration industry, according to Canadian public policy think tank Fraser Institute.

As a part of its economic diversification efforts, 海角直播 is accelerating the development of its mining sector, with the Kingdom鈥檚 mineral wealth now estimated at SR9.4 trillion ($2.5 trillion).

Commenting on the latest report, Alexander Shvets, managing director, infrastructure and capital projects 鈥 metals and mining at Alvarez and Marsal Middle East, said: 鈥満=侵辈モ檚 mining sector is now central to the Kingdom鈥檚 economic transformation.鈥 

He added: 鈥淏uilding on this momentum with embedded cost visibility and performance tracking will help operators to achieve global competitiveness and long-term value creation.鈥 

According to Alvarez and Marsal, adopting structured financial frameworks can help mining companies seize emerging opportunities and ensure operational excellence as the sector matures. 

鈥淐ontrol is not just a finance function 鈥 it鈥檚 an operational discipline. In mining, where complexity and capital intensity are high, real-time cost visibility and team capability are what turn strategy into measurable results,鈥 said Renat Akimbitov, managing director, infrastructure and capital projects 鈥 metals and mining at Alvarez and Marsal Middle East. 

The report said 海角直播 has already laid strong foundations in the sector, with the establishment of institutions such as the Saudi Geological Survey, creating a dynamic and investor-friendly environment.

In March, the Kingdom also launched a new incentive package to attract foreign direct investments into the nation鈥檚 mining sector. 

At that time, the Saudi Press Agency reported that the Kingdom鈥檚 Ministry of Investment is collaborating closely with the Ministry of Industry and Mineral Resources through an exploration enablement program aimed at simplifying investments in the mineral exploration industry. 

Alvarez and Marsal outlined a strategy for mining and industrial companies to strengthen financial resilience by implementing activity-based budgeting, which links finance directly to operational drivers for greater accuracy and agility.

The report also underscored the vitality of empowering business leaders with digital dashboards to manage costs dynamically, as well as conducting structured cost review meetings to ensure accountability through regular performance tracking. 

Alvarez and Marsal further highlighted the importance of cost-capability building and said that equipping teams with practical tools and training is essential to foster a cost-conscious culture within the organization. 


海角直播鈥檚 mining sector jumps to 23rd globally in Fraser Institute index聽聽

海角直播鈥檚 mining sector jumps to 23rd globally in Fraser Institute index聽聽
Updated 12 August 2025

海角直播鈥檚 mining sector jumps to 23rd globally in Fraser Institute index聽聽

海角直播鈥檚 mining sector jumps to 23rd globally in Fraser Institute index聽聽

RIYADH: 海角直播鈥檚 mining sector has leapt 81 places over the past decade to rank 23rd globally in the Fraser Institute鈥檚 Investment Attractiveness Index, underscoring the Kingdom鈥檚 rapid emergence as a global mining contender. 
The rise from 104th place in 2013 marks one of the steepest climbs recorded by the Canadian think tank and puts 海角直播 ahead of several established mining destinations in Asia and Latin America.  
The Fraser Institute credited the surge to sweeping regulatory reforms, strategic investment, and accelerated exploration activity.
These improvements reflect investor confidence in a stable regulatory environment and the vast untapped mineral wealth supported by large-scale geological surveys, new discoveries, and competitive mining licensing rounds. The rise aligns with the rapid growth of 海角直播鈥檚 mining industry, a key pillar of the Kingdom鈥檚 Vision 2030 diversification strategy.   
Commenting on the Fraser Institute鈥檚 2024 report, Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer said: 鈥淚t reflects the structural transformation of the Saudi mining sector in line with the targets of Vision 2030.鈥 
He added: 鈥淥ur focus remains on maximizing the economic value of our mineral resources, creating jobs for citizens, and localizing supply chains.鈥  
The vice minister said mining is no longer a traditional sector; rather, 鈥渋t has become a key driver of industrial and economic growth, and we are committed to building on this momentum to ensure sustainable success.鈥 
The Kingdom also ranked 20th globally in the Policy Perception Index, up from 82nd a decade ago, and 24th in the Best Practices Mineral Potential Index, rising from 58th. 
This comes as 海角直播 issued a record number of new mining exploration licenses in the first half of 2025, registering a 144 percent increase year on year, official data showed.   
The Ministry of Industry and Mineral Resources reported that 22 licenses were granted during the period, up from nine in the same period a year earlier, underscoring rising investor interest and the government鈥檚 drive to build a more competitive and attractive mining sector.  
Commenting on 海角直播鈥檚 significant jump in the rankings, Minister of Industry and Mineral Resources Bandar Alkhorayef described the progress as 鈥渦nprecedented positive results that align with the Kingdom鈥檚 rise as a global mining power, reflecting the impact of reforms to enhance competitiveness in the mining investment environment, which have increased global investor confidence.鈥   
鈥淲e are proud of this progress and will continue to develop the mining sector to maximize its role in diversifying our economy in line with Vision 2030 targets,鈥 he added. 


The Fraser Institute highlighted the Kingdom鈥檚 broad regulatory transformation, covering areas such as security of tenure, taxation, environmental legislation, infrastructure, and community engagement, which enabled 海角直播 to rank in the top quartile of the index for the first time.  
The report also noted investors had no concerns regarding political stability 鈥 one of the Kingdom鈥檚 key strengths 鈥 and commended the Mining Exploration Enablement Program for reducing investment risks and boosting early-stage project confidence.  
Data from the report showed marked improvements between 2013 and 2024, including a 305.8 percent increase in the clarity and effectiveness of mining administration, from 17 percent to 69 percent, ranking 11th globally.   
The clarity of land use for mining activities rose by 82.2 percent, from 45 percent to 82 percent, placing the Kingdom 7th globally.  
The effectiveness of labor regulations improved by 102.2 percent, from 45 percent to 91 percent, while the quality of geological databases saw an 81.8 percent increase, from 33 percent to 60 percent.    
The Fraser Institute鈥檚 Annual Survey of Mining Companies is considered one of the most trusted global benchmarks for evaluating mining investment environments and is widely used by investors, governments, and financial institutions to assess opportunities in the sector.


Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services

Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services
Updated 12 August 2025

Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services

Dar Global boosts GDV by 67% to $12.5bn with Saudi expansion, entry into financial services

RIYADH: The London-listed luxury real estate developer, Dar Global, has increased its gross development value by 67 percent to $12.5 billion, driven by new large-scale projects in 海角直播 and a move into financial services.

Dar Global, majority-owned by Saudi developer Dar Al-Arkan and listed on the London Stock Exchange, announced it secured a joint development agreement with its parent company and completed major land acquisitions for projects in Riyadh and Jeddah, significantly expanding its footprint in the Kingdom.

In Riyadh, the company acquired part of a major integrated scheme worth $2.8 billion, anchored by a $300 million land purchase, replacing a previously announced deal in March. The decision aimed to deliver greater scale, higher profitability, and lower development risk.

In Jeddah, the firm signed another joint development agreement for a landmark mixed-use project on one of the city鈥檚 most prominent sites, with an estimated GDV of $1.95 billion.

Both projects will feature luxury villas, a world-class golf course, and a high-end hotel, tapping into 海角直播鈥檚 rapid economic transformation and growing demand for premium real estate.

鈥淭hese milestones mark an important inflection point for Dar Global. In 海角直播, we are delivering landmark projects in prime locations and looking to bring in more overseas investment as the Kingdom opens up,鈥 Ziad El-Chaar, CEO of Dar Global, said.

鈥淭he enhanced financing facility reinforces our balance sheet to fuel growth at scale, and the establishment of a financial services arm in DIFC (Dubai International Financial Center) enhances our ability to structure capital and unlock global opportunities,鈥 he added.

To accelerate these developments, Dar Global expanded its Litmus financing facility from $275 million to $440 million, adding $165 million in liquidity.

The facility, underwritten by Emirates National Bank of Dubai and supported by Abu Dhabi Commercial Bank, First Abu Dhabi Bank, and Zand Bank, is secured through pledged shares and corporate guarantees.

The additional funds will strengthen the company鈥檚 balance sheet, speed up project delivery, and support expansion across the Middle East, Europe, and North America.

Dar Global acquired a licensed financial services platform in the Dubai International Financial Center, authorized to provide asset management, investment banking, and advisory services.

Operating as an independent subsidiary, the platform will enable the company to attract institutional and private capital into larger-scale projects and create investment vehicles to channel funds from the GCC and beyond.

Dar Global has positioned itself as a bridge between high-growth markets and international investors, leveraging partnerships with landowners, government bodies, and brands to deliver real estate offerings to global clients.