海角直播

Riyadh Air orders 60 next-generation Airbus A321 aircraft

The deal was signed by Tony Douglas, CEO of Riyadh Air, and Christian Scherer, CEO Commercial Aircraft of Airbus, at the 8th Future Investment Initiative in the Kingdom鈥檚 capital city.聽Supplied
The deal was signed by Tony Douglas, CEO of Riyadh Air, and Christian Scherer, CEO Commercial Aircraft of Airbus, at the 8th Future Investment Initiative in the Kingdom鈥檚 capital city.聽Supplied
Short Url
Updated 30 October 2024

Riyadh Air orders 60 next-generation Airbus A321 aircraft

Riyadh Air orders 60 next-generation Airbus A321 aircraft
  • Strengthening the operations of Riyadh Air is crucial for 海角直播 as the Kingdom is evolving itself as a global tourism destination
  • New order will also support the airline鈥檚 long-term goal of creating 200,000 jobs and delivering enhanced connectivity

RIYADH: 海角直播鈥檚 Riyadh Air, a subsidiary of the Public Investment Fund, has signed an agreement to purchase 60 Airbus A321neo single-aisle aircraft, as it plans to commence its operations in 2025.聽

According to a press statement, the deal was signed by Tony Douglas, CEO of Riyadh Air, and Christian Scherer, CEO of Commercial Aircraft of Airbus, at the 8th Future Investment Initiative in the Kingdom鈥檚 capital city.聽聽

Strengthening the operations of Riyadh Air is crucial for 海角直播 as the Kingdom is evolving as a global tourism destination, aligned with the economic diversification goals outlined in the Vision 2030 program.聽

In September, the airline launched its first non-commercial flight from Riyadh鈥檚 King Khalid International Airport as part of the certification process.

Last year, the airlines had ordered 39 Boeing 787 Dreamliners with options for 33 more, thus bringing the estimated fleet capacity to 132.




The Airbus A321neo airliner is widely considered the most sustainable and efficient aircraft in the aviation industry. AN/Abdulrahman bin Shalhuob

鈥淲e are pleased to embark on another key milestone in Riyadh Air鈥檚 journey with the carrier鈥檚 second major fleet order, this time in partnership with Airbus,鈥 said Yasir Al-Rumayyan, governor of PIF and chairman of Riyadh Air.聽

He added: 鈥淭his deal underlines the airline鈥檚 ambitious intentions in advance of next year鈥檚 launch as it builds a comprehensive international network and establishes Riyadh as a major strategic global aviation hub.鈥

The Airbus A321neo airliner is widely considered the most sustainable and efficient aircraft in the aviation industry, and it is expected to fulfill Riyadh Air鈥檚 ambition to cover 100 destinations worldwide by the end of this decade, the press statement said.聽

Riyadh Air added that the new order will also support the airline鈥檚 long-term goal of creating 200,000 jobs and delivering enhanced connectivity to Riyadh to the world.聽

鈥淭his order will not only enable us to support economic growth in the aviation industry, it will also ensure Riyadh Air operates one of the most sustainable fleets in the industry and be instrumental in helping 海角直播 achieve its net-zero emissions goals,鈥 said the CEO of Riyadh Air.聽

Douglas added: 鈥淭his deal strongly reinforces the positive economic impact of 海角直播鈥檚 newest airline on both a global and local scale and helps facilitate the fast-growing local aviation ecosystem.鈥澛

The chief of Commercial Aircraft at Airbus said that the latest generation A321neo aircraft will bring exceptional efficiency to Riyadh Air鈥檚 operations and comfort to its passengers.聽

鈥淲e look forward to working together to support the incredible growth of Saudi aviation,鈥 added Scherer.聽


PIF鈥檚 EA deal: What鈥檚 happening behind the scenes in esports?

PIF鈥檚 EA deal: What鈥檚 happening behind the scenes in esports?
Updated 21 October 2025

PIF鈥檚 EA deal: What鈥檚 happening behind the scenes in esports?

PIF鈥檚 EA deal: What鈥檚 happening behind the scenes in esports?

RIYADH: Just weeks after the conclusion of the second edition of the Esports World Cup, the Saudis were ready for the next step. 

In late September, the Public Investment Fund, along with investment partners, acquired the American video game company Electronic Arts for $55 billion, a deal considered one of the largest in the sector.

Riyadh is now given the key to entering global markets, bringing it closer than ever to achieving its goals, particularly those related to attracting tourists from Japan and South Korea, historical leaders in this sector.

The most prominent outcome of this deal is that 海角直播 will benefit from the EA player base, estimated at around 150 million annually, given that the company develops the most popular games such as FIFA and F1. 

It will be easy for the Kingdom to organize tournaments with exclusive rights within the Esports World Cup to attract all these people to the Riyadh Boulevard in Hittin over the next few years.

海角直播鈥檚 influence and confident steps toward digital sports leadership have worried some American politicians, including Senators Richard Blumenthal and Elizabeth Warren. 

They sent a letter to the Committee on Foreign Investment in the US Treasury Department demanding strict scrutiny of the deal, arguing that it goes beyond a financial investment to influence storytelling and content, which they say influences American culture. 

EA responded that the deal has been approved and aims to accelerate innovation and growth in the entertainment industry, according to PC Gamer, a British magazine specializing in the video game industry.

海角直播鈥檚 passion is relentless. The latest edition of the Esports World Cup saw the Saudi Tourism Authority join as an official partner, capitalizing on the tournament鈥檚 audience of 3 million visitors. 

Meanwhile, the General Entertainment Authority installed giant interactive sculptures of famous characters such as Gundam and Vegapunk in Boulevard World during the Riyadh Season, seeking to attract Asian audiences through various entertainment experiences such as Anime Cafes, Japan Park, and a Kanji calligraphy experience.

Here鈥檚 the question: Will the number of tourists coming to 海角直播 from Asian capitals such as Beijing, Bangkok, and Manila, as well as Taipei, Singapore, and New Delhi, increase before the start of the 2027 AFC Asian Cup and the 2034 World Cup?

Faisal bin Homran, chief product officer at eSports World Cup Foundation, confirms that their strategy with clubs encourages fans from their home countries to come to Riyadh as part of an integrated sports, tourism, and entertainment journey. 

The latest club tournament generated 350 million viewing hours, with prizes exceeding $70 million, the largest prize pool in the history of the global eSports sector.

Further fueling the growth are the combined efforts of partners in China, Japan, Germany, and the US ahead of the inaugural eSports National Team Cup in Riyadh in November 2026. 

Bin Hamran believes the sustainability of the game lies in enhancing it with artificial intelligence technologies and increasing viewership, despite challenges such as differing audience tastes, the decline of some games among citizens of different countries, and the time difference between the East and West. 

All of these obstacles are fading thanks to the continued support and attention of Crown Prince Mohammed bin Salman.

The eSports sector aims to contribute $13 billion to 海角直播鈥檚 GDP by 2030. Bin Hamran believes that current planning will lead to amazing future results, not only in terms of sporting enjoyment, but also in terms of financial outcomes. 

He said: 鈥淢ost of the current targets have been achieved, and most of the revenues come from partnerships, viewership, visitors, tickets, sponsorship rights, advertising, promotional merchandise, and fees from game-producing companies.

鈥淧rofits will double and increase in the coming years. Our goal is to double viewership, follow-up, and participants, while increasing the value of the game鈥檚 brand for sponsors and advertisers.鈥

Sports fans are wondering about the possibility of creating a global game that reflects Saudi identity after the sovereign wealth fund acquired EA. 

Bin Hamran told Al-Eqtisadiah: 鈥淚t is possible, as the company owns the largest international studios, and there are ongoing discussions with other studios, which will undoubtedly develop local content played by hundreds of millions around the world. 

鈥淎lso, electronic game publishers are racing to open headquarters and studios with the latest technology in Riyadh, with financial investments pumped into them under the umbrella of major partnerships. It is sufficient that the national strategy for games aims to provide more than 39,000 job opportunities over five years.鈥


Closing Bell: Saudi main index closes in red at 11,546聽

Closing Bell: Saudi main index closes in red at 11,546聽
Updated 21 October 2025

Closing Bell: Saudi main index closes in red at 11,546聽

Closing Bell: Saudi main index closes in red at 11,546聽

RIYADH: 海角直播鈥檚 Tadawul All Share Index slipped on Tuesday, falling 98.75 points, or 0.85 percent, to close at 11,545.80. 

The benchmark index recorded a total trading turnover of SR4.91 billion ($1.31 billion), with 35 stocks advancing and 221 declining. 

The Kingdom鈥檚 parallel market Nomu also shed 149.66 points, or 0.59 percent, to close at 25,072.11. 

Meanwhile, the MSCI Tadawul Index fell 0.73 percent to 1,507.47. 

Al Majed Oud Co. was the best-performing stock on the benchmark index, as its share price increased by 3.36 percent to SR135.20. 

The share price of Americana Restaurants International rose 2.40 percent to SR2.13. 

Arabian Contracting Services Co. also saw its stock price climb by 1.79 percent to SR108.10. 

Conversely, the share price of Yamama Cement Co. declined by 9.99 percent to SR28.46. 

On the announcements front, Alinma Bank reported a net profit of SR4.67 billion for the first nine months of 2025, up 8.61 percent compared to the same period of the previous year. 

In a Tadawul statement, the financial institution attributed this rise to growth in financing and investments volume. Its third-quarter net profit rose 1.30 percent year on year to SR1.59 billion. 

Alinma Bank鈥檚 share price declined 0.53 percent to SR26.20. 

Bank Aljazira also released its results, reporting a nine-month net profit of SR1.14 billion, a 20.42 percent increase from the previous year. 

According to a Tadawul statement, this rise in profit was driven by a higher income from financing and investments, which increased as a result of portfolio growth. 

The financial institution鈥檚 third-quarter profit stood at SR400.1 million, marking an increase of 20.82 percent compared to the same period in 2024. 

The share price of Bank Aljazira dropped by 1.85 percent to SR12.72. 


Goldman Sachs expands wealth management in 海角直播, targeting ultra-rich聽

Goldman Sachs expands wealth management in 海角直播, targeting ultra-rich聽
Updated 21 October 2025

Goldman Sachs expands wealth management in 海角直播, targeting ultra-rich聽

Goldman Sachs expands wealth management in 海角直播, targeting ultra-rich聽

RIYADH: Goldman Sachs is expanding its wealth management division in 海角直播, the bank said, as global financial firms increase their presence in the Middle East鈥檚 largest economy.  

The New York-based banking giant has launched the first phase of its private banking services locally, Al-Eqtisadiah reported. The expansion will enhance operations from its Riyadh office, where the US lender has maintained a presence for over a decade. 

The expansion comes after Goldman Sachs became the first major international investment bank to receive a regional headquarters license in 海角直播 last year. 

In a statement, Rob Mullane, co-head of private wealth management for the EMEA region at Goldman Sachs, said: 鈥満=侵辈 has an exceptionally dynamic economy and a highly sophisticated investor base.鈥

He added that the bank plans to offer both 鈥渓ocal and global investment opportunities鈥 for regional clients. 

The license aligns with Saudi authorities鈥 ongoing efforts to attract more foreign companies to establish regional hubs in the Kingdom, as part of the broader economic diversification plan under Vision 2030. 

Goldman Sachs鈥 expansion is part of a wider trend of global financial firms scaling up operations across the Middle East. This growth is largely driven by the region鈥檚 vast concentration of capital, including sovereign wealth funds and wealthy families managing more than $1 trillion in assets. 

While 海角直播 and the UAE remain the primary focus, other Gulf nations, such as Qatar, are also taking steps to attract international financial institutions. 

The move positions Goldman Sachs to directly serve ultra-high-net-worth individuals and families in 海角直播 and across the Middle East, tapping into one of the world鈥檚 most significant pools of private capital. 


PIF鈥檚 Soudah Development partners with FII Institute to boost sustainable tourism聽

PIF鈥檚 Soudah Development partners with FII Institute to boost sustainable tourism聽
Updated 21 October 2025

PIF鈥檚 Soudah Development partners with FII Institute to boost sustainable tourism聽

PIF鈥檚 Soudah Development partners with FII Institute to boost sustainable tourism聽

RIYADH: 海角直播鈥檚 Public Investment Fund鈥搊wned Soudah Development has signed a strategic partnership with the Future Investment Initiative Institute to advance sustainable investment and tourism in the Aseer region. 

The collaboration, unveiled ahead of the FII9 conference in Riyadh from Oct. 27 to 30, will see both entities cooperate on thought leadership programs, global forums, and innovation initiatives aimed at promoting environmental responsibility and community development, the company said in a statement. 

Established in 2021, the company aims to develop Soudah and parts of Rijal Almaa into a world-class luxury mountain tourism destination, emphasizing authentic cultural experiences and immersion in nature in line with Saudi Vision 2030. 

海角直播鈥檚 tourism sector has exceeded expectations, hitting its original Vision 2030 target of 100 million visitors seven years early, and now aims for 150 million tourists by the end of the decade. 

Richard Attias, chairman of the executive committee and acting CEO of the FII Institute, said: 鈥淭ourism is a powerful engine for economic growth and cultural exchange, but its future depends on regenerative approaches that restore ecosystems, empower communities, and preserve authenticity.鈥  

He added: 鈥淭ogether, we aim to demonstrate how tourism can be both a driver of prosperity and a catalyst for long-term resilience.鈥 

The partnership underscores the FII Institute鈥檚 focus on sustainable investment and supports Soudah Development鈥檚 efforts to advance tourism and economic growth 

鈥満=侵辈 is accelerating the realization of Vision 2030, and Soudah Development is proud to be contributing through Soudah Peaks, the Kingdom鈥檚 first luxury mountain destination,鈥 said Saleh Aloraini, CEO of Soudah Development. 

He added: 鈥淎s a strategic partner of FII Institute, we are showcasing how this flagship project is driving the development of the Aseer region, attracting investment, and advancing the Kingdom鈥檚 economic diversification agenda.鈥 


Madinah advances development projects worth over $53bn聽

Madinah advances development projects worth over $53bn聽
Updated 21 October 2025

Madinah advances development projects worth over $53bn聽

Madinah advances development projects worth over $53bn聽

RIYADH: 海角直播鈥檚 Madinah region is advancing more than 224 development projects valued at over SR200 billion ($53 billion), underscoring the Kingdom鈥檚 accelerating investment drive, according to a new report. 

Data released by the Al-Madinah Al-Munawara Chamber showed that the region鈥檚 real estate market recorded transactions exceeding SR2.7 billion in the first quarter of 2025, reflecting an annual growth of about 8 percent. 

Madinah has emerged as one of 海角直播鈥檚 fastest-growing regional economies, driven by major investments in construction, trade, and tourism. In 2025, the region recorded strong first-quarter growth, with construction accounting for 24 percent of the workforce and trade for 20 percent, reflecting ongoing diversification efforts. 

鈥淭hese investments are diversified across various economic sectors such as trade, tourism, construction, transportation, health, education, and others,鈥 the report said. 

It added: 鈥淭he projects are expected to contribute to providing more than 125,000 direct job opportunities, a major development the region is witnessing.鈥 

The chamber also highlighted promising investment opportunities in the Investors鈥 Zone, reflecting optimism about Madinah鈥檚 long-term growth prospects across trade, logistics, technology, and real estate. 

The report reaffirmed the chamber鈥檚 commitment to providing detailed analytical insights to help businesses make informed strategic decisions. These insights, backed by comprehensive data, aim to foster regional economic growth and align with the objectives of Vision 2030. 

In February, the Madinah Region Development Authority reported improvements in quality of life, economic growth, and cultural initiatives. The region ranked 88th globally in Euromonitor International鈥檚 2024 Top 100 City Destinations Index and seventh in the Tourism Performance Index, with 3,200 sites listed in the National Urban Heritage Register. 

海角直播 has also eased restrictions on foreign ownership in real estate, allowing international investors to purchase shares in listed firms that hold property in Makkah and Madinah 鈥 a move expected to attract additional capital inflows into the region. 

In August, a Knight Frank report noted that Madinah led the Kingdom in growth, with residential transactions in the holy city surging 49 percent year on year to SR3.4 billion, while volumes climbed 38 percent. 

Large-scale, government-backed projects are also reshaping the urban landscapes of Makkah and Madinah, enhancing their livability and appeal to residents and pilgrims alike, while advancing 海角直播鈥檚 broader tourism and economic development objectives.