Lucid Motors released its Q1 financial results this week, showing some progress compared to last year despite still experiencing significant losses. Download Lucid Q1 2024 Results Report In the latest report, Lucid revealed a net loss of $684.7 million, a decrease from $779.5 million in the same period last year. The company, known for luxury…
PIF and stc Group have finalized agreements for PIF to acquire a 51% stake in TAWAL from stc Group TAWAL and GLIC will merge to create the region’s largest telecom tower company to enhance customer service The merged entity will rank among the world’s largest tower companies stc aims to optimize capital while maintaining stakes…
The culinary scene, from kitchen clouds to doorstep delights, is a captivating playground for investors across the Gulf, and Saudi Arabia is stealing the show. With “Expo 2030” on the horizon and Vision’s lofty goals, Saudi Arabia’s restaurant realm is gearing up for a taste bud takeover. Picture this: in 2023, a whopping 4,000 new…
The completion of the second phase of their groundbreaking ‘Smart Bus’ initiative is done. As a leading enabler of digital transformation, STC Group has proudly partnered with the renowned tech giant Huawei to embark on this transformative journey, culminating in the final stop in the northern regions of the Kingdom. Covering areas such as Hail,…
The Saudi Arabian Military Industries (SAMI), backed by the Public Investment Fund (PIF), just dropped a bombshell announcement at the 2024 World Defense Exhibition! They’ve teamed up with Kia Corporation to revolutionize military vehicle production. Picture this: cutting-edge chassis for lightweight tactical rides and a whole new era of military wheels rolling out of Saudi…
Ceer, the kingdom’s pioneering electric vehicle brand, is set to revolutionize mobility with a colossal SAR 5 billion (USD 1.3 billion) contract! They’ve teamed up with Saudi powerhouse Modern Building Leaders (MBL) to bring to life the Ceer Electric Vehicle Manufacturing Complex in King Abdullah Economic City. This groundbreaking agreement isn’t just about bricks and…
Saudi Arabia’s SITE and South Korea’s AhnLab have announced a strategic partnership valued at over SAR 500 million ($133 million) to advance cybersecurity in the Middle East and North Africa (MENA) region. Key Highlights: Quotes: This collaboration positions both companies to play a significant role in safeguarding the digital landscape across the MENA region.