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Wednesday, Jun 17, 2026
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Kingdom Holding and PIF See SpaceX Investment Rise to $6.83 Billion After IPO

Kingdom Holding Company said the value of its joint investment with the Public Investment Fund in SpaceX has climbed to $6.83 billion, underscoring Saudi Arabia's growing exposure to global technology and space industries.
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Saudi Arabia Declares Start of Islamic Year 1448 Hijri

The Supreme Court confirmed the sighting of the crescent moon, marking the beginning of Muharram and establishing the official calendar for the new Islamic year.

Saudi Arabia Launches National Biotechnology Strategy to Expand Drug Manufacturing

Health officials introduced incentives to attract global pharmaceutical companies and establish local research and production facilities, reducing reliance on imported medicines.

Saudi Pro League Intensifies Recruitment of Leading European Football Players

Clubs backed by the Public Investment Fund have begun negotiations with elite players from England and Spain as Saudi football continues its international expansion.

Saudi Arabia Establishes Regulatory Framework for Green Hydrogen Exports

Energy authorities introduced certification and export standards for green ammonia production, aiming to position the Kingdom as a major supplier to European and Asian markets.

Saudi Central Bank Keeps Interest Rates Unchanged in Line With Federal Reserve

The central bank maintained benchmark borrowing costs to support currency stability, manage inflation and preserve liquidity for large-scale domestic investments.

Saudi Venture Capital Company Increases Investment in AI and Fintech Funds

The state-backed investor committed hundreds of millions of riyals to specialized venture funds to support startup growth and improve financing for technology companies.

Saudi Arabia Prepares for First Riyadh Esports World Cup

Organizers said the upcoming tournament will feature record international participation and prize pools, reinforcing Saudi ambitions to become a global center for esports and di...

Diriyah Launches Major Expansion of Heritage and Retail District

The development authority announced a new phase featuring luxury retail areas and cultural attractions designed to increase international tourism to historic Riyadh.

Saudi Arabia and China Expand Petrochemical Cooperation Through New Joint Ventures

Saudi Aramco and Chinese state-owned enterprises signed agreements to build integrated refinery and petrochemical projects, strengthening long-term energy ties and downstream op...

King Salman International Airport Advances With New Terminal Construction Contracts

Authorities awarded major engineering contracts for new passenger terminals in Riyadh as part of plans to turn the capital into a leading global transport and logistics hub.

Saudi Arabia Awards New Mining Exploration Licenses to International Companies

The government granted extensive exploration rights targeting rare earth elements and copper deposits as it seeks to unlock an estimated $1.3 trillion in mineral resources.

ACWA Power Secures Financing for Major Renewable Energy Projects in Uzbekistan

The Riyadh-based utility developer closed a large syndicated loan to support wind and solar projects in Central Asia, expanding the international reach of Saudi renewable energy...
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