Edmund Bower

Beirut

Journalist at Freelance

Saudi Arabia Editor at AGBI

Articles

US investors ‘would be first in line for any Aramco asset sale’

1 week ago | agbi.com | Edmund Bower

Analysis Oil & Gas Analysts expect interest from USFocus on $100bn Jafurah gas fieldSales would fund Aramco capex planAsset sales could allow Saudi Aramco to maintain its capital expenditure plans and keep its government shareholders happy with dividends, analysts have said.
AI adoption could help meet ambitious Vision 2030 targets

1 week ago | agbi.com | Edmund Bower

Analysis Artificial Intelligence Saudi Arabia dominates constructionAI can speed up deliveryProjections help reduce wasteConstruction companies in Saudi Arabia are increasingly looking to artificial intelligence to reduce waste and speed up delivery times, industry experts say.
Franklin Templeton plans Saudi products with $5bn PIF agreement

2 weeks ago | agbi.com | Edmund Bower

Finance Attracting global investmentFocusing on Saudi SMEsCompliant with Islamic lawUS asset manager Franklin Templeton says it plans to create and introduce financial products in Saudi Arabia that takes advantage of both international investor interest in the largest Arab economy as well as local appetite for global markets.
Saudi capital markets hit SAR1 trillion mark in 2024

2 weeks ago | agbi.com | Edmund Bower

Markets Assets’ value up 21% on 20231.7m investors and 1,500 funds40 IPOs on Tadawul last yearThe value of assets under management in Saudi capital markets surpassed SAR1 trillion for the first time last year. Their value was 21 percent higher than in 2023, according to the Capital Markets Authority’s annual report.
Saudi IPOs bounce back ‘quicker than expected’

2 weeks ago | agbi.com | Edmund Bower

Analysis Markets Listings set to raise up to $1.8bnFlynas, SMC and United Carton IPOs2025 could still beat last year’s totalThree initial public offerings launched in the past six weeks stand to raise close to $1.8 billion on the Saudi Exchange – nearly twice as much as the IPOs on the main market in the first quarter.
Saudi’s air passenger numbers up, but off target

2 weeks ago | agbi.com | Edmund Bower

Aviation 15% annual growthBelow pace for 2030 targetBoeing delays curb progressSaudi Arabia recorded a 15 percent rise in air passenger numbers year on year in 2024, below the pace needed to achieve an ambitious target by 2030. Last year 128 million passengers travelled through the kingdom’s airports, according to the General Authority for Statistics.
Arms, investment and AI among deals as Trump's Gulf tour begins

3 weeks ago | agbi.com | Valentina Pasquali |Edmund Bower

Trade US President begins tour of Gulf$142bn arms deal agreed with SaudiRiyadh to invest $600bn in USTens of billions of dollars in new partnerships between the US and Saudi Arabia were announced on Tuesday in Riyadh during the first day of President Donald Trump’s visit to the Gulf.
Red Sea Global’s airport ‘racing towards completion’

3 weeks ago | agbi.com | Edmund Bower

Tourism Main terminal to open by summerDAA International to manage airportDemand for flights builds, says RSGRed Sea International Airport will be “fully operational” within “a couple of months”, according to an executive at Red Sea Global. The airport “is racing towards completion”, said Ben Edwards, group head of cost, commercial and procurement at the Saudi resort developer.
Best Western Hotels to increase Saudi footprint

3 weeks ago | agbi.com | Edmund Bower

Tourism Ambitious growth plannedSaudi tourism market is targetFocus on mid-market demand Best Western Hotels and Resorts plans to increase more than six-fold the number of hotels it operates in Saudi Arabia to tap a growing market in domestic and international business and leisure travel, the Arizona-based company said.
Aramco profits down but the worst is yet to come

3 weeks ago | agbi.com | Edmund Bower

Oil & Gas Saudi Aramco/Media Gallery 4.6% decline in net-incomeVision 2030 funding pressureCapex plans face uncertaintySaudi Aramco announced a drop in net-income for the first three months of the year on Sunday, amid rising oil prices and higher operating costs.