黑料社区

黑料社区 opens first phase of Sports Boulevard

The project, led by the Sports Boulevard Foundation, is now 40 percent complete, with 83 km of the route set to be accessible to visitors starting Feb. 27, according to the Saudi Press Agency.聽File
The project, led by the Sports Boulevard Foundation, is now 40 percent complete, with 83 km of the route set to be accessible to visitors starting Feb. 27, according to the Saudi Press Agency.聽File
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Updated 26 February 2025

黑料社区 opens first phase of Sports Boulevard

黑料社区 opens first phase of Sports Boulevard

JEDDAH: 黑料社区 has opened the first phase of Sports Boulevard, marking a聽major聽milestone in Riyadh鈥檚 transformation into a global athletics and lifestyle destination.聽聽

The project, led by the Sports Boulevard Foundation, is now 40 percent complete, with 83 km of the route set to be accessible to visitors starting Feb. 27, according to the Saudi Press Agency.聽

Chaired by Crown Prince Mohammed bin Salman, the board of directors of the SBF announced the launch of the phase, which includes five key destinations: Wadi Hanifah, the Promenade, a section at the intersection of Prince Mohammed bin Salman bin Abdulaziz Rd. and Prince Turki bin Abdulaziz Al-Awwal Rd., as well as the Princess Nourah bint Abdulrahman University internal loop, and the first phase of Sands Sports Park.聽

The initiative,聽launched by King Salman in March 2019,聽aligns with the country鈥檚 Quality-of-Life Program, outlined in Saudi Vision 2030, by creating greener, more sustainable cities that encourage participation in activities like walking, cycling, and horse riding.聽It also aims to transform Riyadh into one of the world鈥檚 most livable cities by blending sports with cultural, artistic, and environmental opportunities.聽

The Sports Boulevard, closely overseen by the crown prince, stretches across Riyadh, connecting Wadi Hanifa in the west to Wadi Al-Sulai in the east via Prince Mohammed bin Salman Road.

At over 135 km in length, it will become the world鈥檚 largest linear park.聽The project includes pathways for pedestrians, cyclists,聽and amateur athletes, as well as聽horse trails and various other sports facilities.

The urban facades follow the distinctive design guidelines outlined in the Sports Boulevard鈥檚 design code.

The first completed destination of the project, Wadi Hanifah, is聽located聽in western Riyadh. Stretching 13.4 km, it runs from Al-Olab Dam in the north to Jeddah Road in the south, passing through the Diriyah Gate project.聽

Wadi Hanifah features pedestrian pathways, cycling and equestrian trails, green spaces, and designated rest areas. A key feature is the Cycling Bridge, which connects Wadi Hanifah to the Promenade.聽

Located at the intersection of King Khalid Road and Prince Mohammed bin Salman Road, the bridge offers two distinct paths: a 1 km pedestrian walkway and a 771-meter cycling track.聽

The Promenade spans 4 km and follows聽the Sports聽Boulevard鈥檚 urban design code, which draws inspiration from Salmani architecture.聽It features dedicated cycling paths for聽both聽professionals and amateurs, expansive green spaces, water features, walking trails, children鈥檚 playgrounds, and聽a variety of聽retail outlets.聽

At the intersection of Prince Mohammed bin Salman bin Abdulaziz Road and Prince Turki bin Abdulaziz Al-Awwal Road, a 300-meter area features the Arts Tower 鈥 an installation inspired by the high-voltage electricity towers that once lined Prince Mohammed bin Salman Road. The figure鈥檚 geometric panels reflect sunlight, creating reflections,聽and serving as a distinctive landmark and focal point for visitors.

聽The Sands Sports Park, the fifth completed destination in the first phase, is located southeast of King Khalid International Airport. It offers dedicated cycling paths, mountain bike trails, BMX tracks, and scenic hiking and equestrian trails.聽

At its core is the Najdi Flower, a signature 45-km cycling route for professionals. Over 350,000 sq. meters of聽sand聽dunes have聽been rehabilitated聽to enhance the park鈥檚 natural landscape.

The park also features retail outlets and specialized聽centers for聽bicycle rentals and accessories.聽Future phases will introduce additional sports facilities and buildings,聽further聽enhancing the visitor experience.

The news agency reported that the SBF had previously opened the Prince Turki bin Abdulaziz Al-Awwal Road Underpass to improve traffic flow and mobility in Riyadh. Construction is also ongoing at other project destinations, including those beyond the Promenade, the Urban Wadi Destination, the King Abdulaziz Road Underpass, and the Abi Bakr Al-Siddiq Road Underpass.

SPA concluded that these developments are progressing according to the approved project schedule.

As part of the broader Sports Boulevard project, the SBF announced聽in December聽it had launched a SR3.5 billion ($933 million) real estate investment fund to develop Urban Wadi High Rises, spanning 40,000 sq. meters with a gross floor area exceeding 207,000 sq. meters.

SBF signed agreements with Riyadh Development Co., Turkiye鈥檚 FTG Development, and Jadwa Investment to establish the fund, which aims聽to transform Riyadh鈥檚 urban landscape.


SME lending in 黑料社区 surges past $112bn

SME lending in 黑料社区 surges past $112bn
Updated 22 October 2025

SME lending in 黑料社区 surges past $112bn

SME lending in 黑料社区 surges past $112bn

RIYADH: Lending to small, medium, and micro enterprises in 黑料社区 reached a record SR420.7 billion ($112.18 billion) by the end of the second quarter of 2025, up 37 percent from the same period last year, official data showed.

This represents an increase of more than SR113.3 billion compared with the second quarter of 2024, when SME facilities stood at SR307.4 billion, the Saudi Press Agency reported, citing data from the Saudi Central Bank, also known as SAMA.

On a quarterly basis, SAMA鈥檚 monthly statistical bulletin for August reported that lending increased 10 percent from SR383.2 billion at the end of the first quarter, adding SR37.5 billion in new credit.

It also aligns with Vision 2030鈥檚 target to increase SME contributions to gross domestic product from 30 percent to 35 percent. With more than 1.8 million SMEs operating in the Kingdom, supporting this sector financially is not just a policy goal but a macroeconomic necessity.

鈥淭he bulletin indicated that the facilities provided by the banking sector amounted to SR402.1 billion, constituting about 96 percent of the total facilities, while the facilities provided by the financing companies sector amounted to SR18.6 billion,鈥 the SPA report stated. 

Medium-sized enterprises received the largest share of bank lending, securing SR198.9 billion, about 49 percent of total banking facilities. Small enterprises, meanwhile, dominated the financing companies鈥 portfolio, with SR8.5 billion, representing 46 percent of that sector鈥檚 total.

Overall, medium enterprises led total SME facilities with SR206.4 billion, representing 49 percent, followed by small enterprises at SR154.2 billion, or 37 percent, and micro enterprises at SR60.1 billion, accounting for 14 percent.

According to the General Authority for Small and Medium Enterprises, medium enterprises are defined as those with revenues between SR40 million and SR200 million or 50鈥249 employees.

Small enterprises have revenues of SR3 million to SR40 million, or six to 49 employees, while micro enterprises generate less than SR3 million or employ one to five people.


OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General
Updated 22 October 2025

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

JEDDAH: Global demand for oil is expected to reach around 123 million barrels per day by 2050, with the crude maintaining the largest share of the global energy mix at nearly 30 percent, OPEC Secretary-General Haitham Al-Ghais said.

Speaking at a conference in Kuwait on Oct. 22, Al-Ghais said demand for all types of fuel will continue to rise through 2050 and beyond, driven by population growth, economic expansion, rising urbanization, and the emergence of new energy-intensive industries, the Saudi Press Agency reported.

Al-Ghais added that meeting this projected demand will require massive investments estimated at about $18.2 trillion by 2050.

 


Closing Bell: Saudi main index ends in green at 11,585聽

Closing Bell: Saudi main index ends in green at 11,585聽
Updated 22 October 2025

Closing Bell: Saudi main index ends in green at 11,585聽

Closing Bell: Saudi main index ends in green at 11,585聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index rose on Wednesday, gaining 40.10 points, or 0.35 percent, to close at 11,585.90. 

The total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 91 of the listed stocks advanced, while only 163 retreated. 

The MSCI Tadawul Index also increased, up 3.47 points, or 0.23 percent, to close at 1,510.94. 

The Kingdom鈥檚 parallel market Nomu lost 36.98 points, or 0.15 percent, to close at 25,035.14. This comes as 39 of the listed stocks advanced, while 40 retreated. 

The best-performing stock was CHUBB Arabia Cooperative Insurance Co., with its share price surging 9.91 percent to SR32.84. 

Other top performers included LIVA Insurance Co., which saw its share price rise by 4.57 percent to SR13.50, and 黑料社区n Oil Co., which saw a 3.75 percent increase to SR25.98.

On the downside, Canadian Medical Center Co. saw the largest drop, with its share falling 8.84 percent to SR8.25. 

Tourism Enterprise Co. fell 8.43 percent to SR15.75, while Naseej International Trading Co. dropped 7.04 percent to SR62.70. 

On the announcements front, the Saudi Investment Bank released its interim financial results for the first nine months of the year. 

Net profit reached SR518.4 million, up 0.11 percent year on year and 1.15 percent compared with the previous quarter. The bank attributed the modest annual increase to a decline in total operating expenses. 

In a statement on Tadawul, the bank said that total operating income had decreased by 3 percent, mainly due to a drop in net special commission income and fair value through the statement of income, partially offset by higher exchange income and fee income from banking services. 

SAIB鈥檚 shares traded 1.94 percent lower on the main market to reach SR13.67. 


Egypt鈥檚 labor reforms aim to attract Qatari investment聽

Egypt鈥檚 labor reforms aim to attract Qatari investment聽
Updated 22 October 2025

Egypt鈥檚 labor reforms aim to attract Qatari investment聽

Egypt鈥檚 labor reforms aim to attract Qatari investment聽

JEDDAH: Egypt and Qatar are set to deepen economic ties, with the North African country鈥檚 recent labor law reforms aimed at attracting Gulf investment and improving the business environment. 

Egypt鈥檚 Minister of Labor, Mohamed Abdel Aziz Gibran, met in Cairo with Mohamed bin Ahmed Al-Obaidli, a board member of the Qatar Chamber, to discuss boosting bilateral economic cooperation and encouraging Qatari investors to enter the Egyptian market.

The two sides also reviewed Egypt鈥檚 labor law and discussed ways to tackle challenges facing investors in the country鈥檚 labor market, according to the Qatar News Agency.

In mid-April, the two countries agreed to pursue a package of $7.5 billion in direct Qatari investments. The move comes as Egypt steps up efforts to secure funding from Gulf neighbors and other foreign partners to address high foreign debt and a large budget deficit. 

鈥淒uring the discussions, HE the Minister reviewed the latest amendments to the Egyptian Labor Law, which include the establishment of an emergency fund to support workers and struggling companies, as well as the creation of an entity dedicated to training and upgrading workers鈥 skills,鈥 QNA reported. 

It added that the Egyptian official said the new law seeks to create a more favorable work environment and promote a stable, secure climate for investors in Egypt. 

The meeting also reviewed the outcomes of Gibran鈥檚 recent visit to Qatar, during which he met with representatives of the Qatari private sector. 

鈥淭he visit resulted in positive understandings aimed at strengthening cooperation in the fields of labor, training, and employment,鈥 the QNA report added. 

Al-Obaidli praised the strong fraternal ties between the countries, emphasizing the Qatar Chamber鈥檚 commitment to broadening cooperation across economic, commercial, and investment sectors. 

Egypt enacted Labor Law No. 14 of 2025, which took effect on Sept. 1, fully replacing previous labor legislation. 

The law introduces a wide range of reforms designed to modernize labor relations, enhance workers鈥 rights, and align with international labor standards.

It requires employers to provide annual salary increments, recognizes modern work arrangements such as remote work, part-time roles, flexible hours, and job sharing, and obliges them to contribute to a workforce training fund. 

The law also updates notice periods for resignations, extends maternity and paternity leave provisions, allows longer childcare leave, and regulates annual leave entitlements, including special provisions for disabled employees. 


Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn聽

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn聽
Updated 22 October 2025

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn聽

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn聽

RIYADH: Sovereign wealth funds from the Middle East and Asia are driving a resurgence in global mergers and acquisitions, with deal volumes surpassing $3.5 trillion since the start of the year, Asharq Business reported. 

The surge marks a 34 percent increase over the previous year, putting 2025 on track to be the strongest year for M&A since 2021. The third quarter alone saw over $1.3 trillion in deals, driven by a number of mega-transactions, according to data compiled by Bloomberg. 

The flurry of activity has been led by mega-deals involving some of the world鈥檚 deepest-pocketed state-backed funds. 

On Oct. 21, Blackstone Inc. and TPG Inc. agreed to acquire medical device maker Hologic Inc. for up to $18.3 billion, including debt. The deal features the Abu Dhabi Investment Authority and Singapore鈥檚 sovereign wealth fund GIC Pte as minority investors. 

In a separate transaction last week, BlackRock Inc. partnered with MGX, an AI firm backed by Abu Dhabi鈥檚 Mubadala Investment Co., in a $40 billion deal to acquire Aligned Data Centers. 

The week prior, Carlyle Group Inc. entered a partnership with the Qatar Investment Authority to purchase the coatings unit of BASF SE in a deal that valued the unit at 鈧7.7 billion ($8.9 billion). 

In a landmark transaction in September, 黑料社区鈥檚 Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, completed the acquisition of video game giant Electronic Arts Inc. to take it private. This leveraged buyout, valued at $55 billion, stands as the largest of its kind in history. 

Beyond participating with private equity, sovereign wealth funds are aggressively expanding their in-house investment teams to execute more direct investments. This strategy allows them to capture profits without paying fees to Wall Street banks. 

They have also become major backers of private equity funds, successfully negotiating privileges that grant them co-investment rights alongside these funds in exchange for their substantial capital commitments. 

Heavy tech and AI focus 

The technology sector has been a particular focus for these funds. In August, ADIA supported Thoma Bravo鈥檚 acquisition of HR software provider Dayforce Inc. for nearly $12 billion. 

MGX, backed by the Abu Dhabi government and overseen by Sheikh Tahnoon bin Zayed Al Nahyan, has invested in OpenAI at a $500 billion valuation. It has also supported Elon Musk鈥檚 xAI venture and plans to contribute to the 鈥淪targate鈥 project announced by US President Donald Trump. 

Meanwhile, Singapore鈥檚 GIC and the Qatar Investment Authority have both invested substantial capital in OpenAI鈥檚 competitor, Anthropic. 

Wall Street sees deals continuing

Senior investment bankers anticipate that the M&A wave will persist. Goldman Sachs has predicted that deal activity will accelerate by year-end, with 2026 potentially setting a new record for the M&A market. 

Sovereign funds continue to hunt for new opportunities. For instance, the asset management arm of Mubadala is reportedly considering a bid for outdoor advertising company Clear Channel Outdoor Holdings Inc., which has a market value of approximately $930 million. 

Their investment interests are also expanding beyond direct acquisitions. Qatar Investment Authority recently participated in an over $2 billion funding round for a new company founded by Hollywood super-agent Ari Emanuel, alongside other investors like Apollo Global Management and Ares Management.