JEDDAH: The Haramain Express Train has run a successful trip from King Abdullah City in Rabigh to Madinah at speeds of up to 300 kilometers per hour (kph).
The project — which will connect Makkah and Madinah via Jeddah’s airport and King Abdullah Economic City in Rabigh — will be completed by the end of 2017, said the chairman of the Public Transport Authority, Rumaih bin Mohammed Al-Rumaih, who is also acting head of the Saudi Railways Organization (SRO).
Al-Rumaih noted the support of the General Investment Fund (GIF), which financed and facilitated the implementation of the project.
He thanked Makkah Gov. Prince Khaled Al-Faisal and Madinah Gov. Prince Faisal bin Salman for their support during the different stages of the project.
The electric railway will be 450 km long. Trains will run between Makkah and Madinah in two hours, and are projected to serve 60 million passengers annually.
High-speed Haramain train tested successfully at 300 kph
High-speed Haramain train tested successfully at 300 kph
Saudi Arabia topped MENA region in e-government services for third successive year in 2024
- Kingdom outperformed 16 other countries, achieving maturity rate of 96% in delivering services
- Governor of Digital Government Authority praises achievement
RIYADH: Saudi Arabia ranked first for the third successive year among countries in the Middle East and North Africa region in the 2024 Government Electronic and Mobile Services Maturity Index.
The index, published by the UN Economic and Social Commission for Western Asia, measures the maturity of government services provided through electronic applications and portals.
Saudi Arabia ranked first in the 2024 index, outperforming 16 other countries and achieving a maturity rate of 96 percent in delivering digital government services, the Saudi Press Agency reported.
Ahmed Alsuwaiyan, the governor of the Digital Government Authority, praised the achievement on Monday, saying it was the result of collaboration among government agencies, the use of technologies and artificial intelligence, and the introduction of digital products to deliver government services.
The Kingdom ranked fourth in the index in 2020 and second in 2021 before taking the top spot in 2022 and 2023. Alsuwaiyan noted that the progress was due to significant improvements in digital services across essential sectors, including health, education, and smart cities.
Saudi Arabia has made significant strides in the healthcare sector by offering citizens and residents digital prescriptions, appointment bookings, and telehealth services, while remote learning platforms and electronic university admissions have been established in the education sector.
Saudi minister receives copy of Omani ambassador’s credentials
RIYADH: Saudi Deputy Foreign Minister Waleed Al-Khuraiji has received a copy of the credentials of the newly appointed Omani ambassador to the Kingdom Sayyid Najib bin Hilal Al-Busaidi.
Al-Khuraiji welcomed the ambassador and wished him success in his new duties, Saudi Press Agency reported on Monday.
Fintech founder describes journey in shaping Saudi finance
- Adel Alateeq: Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations
- Adel Alateeq: I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity
Adel Alateeq, co-founder and CEO of Awaed, reflected on a career that has witnessed the evolution of Saudi Arabia’s investment landscape.
In a discussion with The Majlis podcast produced in partnership with Arab News, Alateeq described his career path from traditional finance to fintech startup cofounder.
Alateeq’s early roles involved managing public equity funds, an area significantly affected by Saudi Arabia’s market crash in February 2006.
“The market was booming, a lot of Saudis were participating in the Saudi markets,” he said.
“But, then, all of a sudden, came February 2006, a crash happens, and a lot of people lost trust, lost money, a lot of money in the market, and then they started looking for other things, and they started deserting the local markets.”
The financial turmoil, coupled with the 2008 global financial crisis, highlighted the vulnerability of relying solely on public equities and spurred a search for alternative investments.
This led Alateeq to work on the first real estate investment trust in Saudi Arabia with Riyad Capital, a project initiated around 2008 and eventually launched in 2016.
Simultaneously, he championed the development of a venture capital fund with Riyad Capital.
Discussions began in 2012, but it took four years to convince investors, primarily due to skepticism about the potential for startups in Saudi Arabia at the time.
“We started talking about the fund back in 2012. We only launched in 2016,” Alateeq said.
“It took us four years to convince investors, and to fundraise for our first VC fund, because a lot of investors did not believe that there would be startups coming out of Saudi.”
Not long afterwards, Alateeq was tapped by the Public Investment Fund to join Jada Fund of Funds, founded in 2018.
He said the mandate was to “catalyze the private equity and venture capital industry” in Saudi Arabia.
Despite the challenges of building a team remotely during the global pandemic, Jada achieved its five-year key performance indicators within just three years.
Speaking about his move to establish the Awaed digital wealth management platform, Alateeq said: “Entrepreneurship is part of me. I’ve always wanted to do something on my own, to have the freedom to do creative things out of the boundaries of large organizations.”
Alateeq believes that Saudi retail clients are “underserved” by existing players who struggle to reach them effectively.
He challenges the notion that Saudis lack financial literacy, arguing that the key issue is one of “access, not knowledge.”
In line with the unique aspects of the Saudi market, Awaed allows users to screen out non-Sharia compliant investment options.
Reflecting on the Saudi banking and investment sector, Alateeq said that its profitability can lead to complacency and a lack of innovation among many established players.
“The market is hungry,” he said. “There’s so much to do. But because of that, creativity is not at its best.”
Alateeq is optimistic about the country’s reforms under Vision 2030. “I think today, the transformation that Saudi is going through is probably a once-in-a-lifetime opportunity,” he said.
Riyadh International Industry Week 2025 to feature 524 exhibitors from 20 countries
- Event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region
- Activities will include live demonstrations of the latest industrial technologies
RIYADH: The Saudi capital will host “Riyadh International Industry Week 2025” under the patronage of the Ministry of Industry and Mineral Resources at the Riyadh International Convention and Exhibition Center from May 12 to 15.
It will feature more than 524 exhibitors from around the world, with an expected attendance of over 25,000 visitors, including specialists and those interested in the industrial sector, according to a press release issued by the organizer.
The event will cover an area of 20,550 sq. meters and be the largest industrial gathering in the region, bringing together more than 48,000 products and advanced technologies under one roof.
It will include national pavilions representing major industrial countries, while the activities will feature speakers and experts, with more than 60 speakers presenting strategic insights in more than 20 sessions and specialized workshops.
The exhibition agenda includes several strategic themes that will highlight the latest global trends in the industrial sector and provide a platform for dialogue with experts, investors, and decision-makers.
Activities will include live demonstrations of the latest industrial technologies, along with highlighting government initiatives aimed at supporting and empowering the sector, while highlighting key enablers of the industrial environment in the Kingdom.
The events will be spread over four specialized industrial exhibitions. The “Saudi Plastics and Petrochemicals Exhibition,” in its 20th edition, will celebrate its history of supporting these industries and offer a comprehensive platform to show the latest innovations and sustainable solutions.
The event will also host the “Saudi Print and Pack Exhibition,” featuring the latest advances in printing technology and smart packaging solutions.
It will feature the “Saudi Smart Logistics Exhibition,” highlighting the latest solutions in material handling, storage, and supply chains.
The journey of innovation will continue through the “Saudi Smart Manufacturing Exhibition” dedicated to automation and digital transformation solutions for industrial facilities in the Kingdom.
The Industry Week is a major platform for empowering the national industrial sector and exploring future opportunities in supply chains and advanced technologies.
It represents an extension of the Kingdom’s longstanding efforts to support national priorities in the industrial sector. It will foster international partnerships, facilitate knowledge transfer, and present innovative solutions that enhance industrial competitiveness regionally and globally, in line with the objectives of Saudi Vision 2030.
Jeddah roadshow promotes Malaysia’s tourism, seeks more Saudi visitors
- Group included representatives from private sector companies, travel agents and hoteliers
- Minister Dato Sri Tiong King Sing discussed preparations for the Visit Malaysia 2026 campaign
JEDDAH: Dato Sri Tiong King Sing, Malaysia’s minister of tourism, arts and culture, led a delegation to Jeddah for a roadshow and business-to-business networking event aimed at exploring tourism opportunities between Saudi Arabia and Malaysia.
Accompanied by Datuk Manoharan Periasamy, director general of Tourism Malaysia, the group included representatives from private sector companies, travel agents and hoteliers to network and form strategic alliances with buyers, travel agents and airlines from the Kingdom.
In his remarks, the minister discussed preparations for the Visit Malaysia 2026 campaign, which aims to attract 35.6 million tourists, focusing on increasing Malaysia’s visibility, improving accessibility, and enhancing the appeal of its tourism.
Speaking to Arab News, the minister said: “We are here to discuss further collaborations and launch the Visit Malaysia 2026 roadshow in Jeddah. Our annual roadshow allows us to showcase new offerings and strengthen partnerships with Saudi tour operators.”
Regarding Saudi tourist arrivals, he said: “We expect a rise in visitors from the Arab world, especially from Saudi Arabia, which has the largest percentage of visitors from the Middle East.”
He added: “Saudi Arabia has been a key market for Malaysia for years, and with Visit Malaysia 2026 approaching, we are targeting more visitors than last year, which reached 68,000.”
He asked everyone to work more vigorously and closely with Tourism Malaysia to send more Saudis to Malaysia, to observe its beauty and experience the sights and sounds of “Malaysia Truly Asia.”
