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Morning must-read: Successful entrepreneurs are middle-aged, not young
Transport Authority orders the shut-down of two ride-hailing and four order-delivery apps
More earnings: Ades Holding, Tasnee, Saptco, Clean Life
Ades Holding’s revenues were up 75.6% y-o-y in 2023 to SAR 4.3 bn
New rules on ride hailing and other fare-based transport services went into effect yesterday
Drivers of ride-hailing companies will be banned for canceling more than 5 ride requests within a 30 day period
PIF looks to ramp up annual deployment capacity to USD 70 bn, positions Saudi as global AI hub
Plus: EFG Hermes named best research house in KSA for second consecutive year
PIF’s mobility investment arm buys into Croatia-based Project 3 Mobility + eyes Recogni, Holon
P3 plans to use the proceeds to fund its R&D and expand its team
Juffali Automotive opens its largest Mercedes center. Plus: Infrastructure, agriculture, and debt
The Riyadh facility, dubbed Center for Tomorrow, spans over 21k sqm
Stadler is supplying the Kingdom with next-generation passenger trains
The new trains will help double the annual passengers capacity for eastern trains to more than 3.8 mn passengers
PIF launches new vehicle to target sustainable tech manufacturing. PLUS: Debt, aviation, fintech
Alat is chaired by Crown Prince Mohammed bin Salman
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