Saudi-listed banks posted a combined net profit of 24 billion Saudi riyals ($6.4 billion) in the first quarter of 2026, marking an 8% year-on-year (YoY) increase and surpassing market consensus estimates by 3%, according to a new report by Alrajhi Capital. The earnings growth was primarily driven by strong performances from Al Rajhi Bank, Saudi […]
Riyadh: Kreab, a global advisor in strategic communications, has launched its first regional office in the Middle East in Riyadh under the name “Kreab Saudi Arabia,” in a move that reflects the company’s commitment to strengthening its presence in the Saudi market and positioning the Kingdom as a strategic hub for managing its regional expansion plans. […]
Saudi Arabia-based fintech startup Arib has raised US$23.5 million in a new funding round led by Merak Capital, as the company looks to strengthen its position in the Kingdom’s rapidly growing digital finance sector. The funding round also included Sharia-compliant Murabaha financing facilities, highlighting increasing investor interest in Islamic fintech solutions and digital lending services […]
DHAHRAN, Saudi Arabia – Aramco, one of the world’s leading energy and chemicals companies, in partnership with Pasqal, a global leader in neutral-atom quantum computing, today officially inaugurated the Kingdom of Saudi Arabia’s first quantum computer. Aramco and Pasqal also unveiled the first commercial Quantum Computing as a Service (QCaaS) platform in the Middle East, opening a […]
Enhanced liquidity in SAB Invest Saudi Quant ETF (Ticker: 9402), with tighter bid-ask spreads and improved pricing efficiency, enabling a smoother and more effective trading experience for investors Riyadh, Kingdom of Saudi Arabia, SAB Invest, the investment arm of Saudi Awwal Bank (SAB), today announced its official registration by the Saudi Exchange (Tadawul) as the first […]
Riyadh, Saudi Arabia: Riyad Bank and Mastercard announced today the launch of an innovative Travel and Expense (T&E) Corporate Card program, marking Riyad Bank’s first corporate card offering in the Kingdom. The launch marks the latest collaboration between the two entities, building on their ongoing efforts to redefine business travel within the Kingdom, the Middle East […]
Riyadh: BlueFive Capital is pleased to announce it has signed a binding share subscription agreement with Gulf General Cooperative Insurance Company, a publicly listed company on Saudi Arabia’s Stock Exchange. The agreement sets out a series of actions to restructure the Company’s share capital in order to strengthen the Company’s financial position. It includes: Reducing the […]
Stitch, the operating system built for modern financial institutions, today announced it has raised $25 million in Series A funding led by Andreessen Horowitz (a16z). The investment marks a16z’s first in the GCC and brings Stitch’s total funding to $35 million. In addition to a16z, existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC […]
Riyadh, Paris – Albilad Capital announces the official launch of the Horizon Trading Solutions platform, marking a strategic milestone that reflects the company’s ongoing commitment to strengthening its technological infrastructure and advancing its operational systems in line with the rapid growth of the Saudi capital market. This initiative supports Albilad Capital’s efforts to elevate its market‑making […]
Saudi-based healthcare supply chain platform Aumet has raised USD 12 million in a Series A funding round to expand its AI-powered procurement operating system across healthcare systems in the GCC and international markets. The round was led by Emkan Capital, with participation from Qatar Development Bank, SABAH Fund, and AAIC. Existing investors Shorooq Partners and […]