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Savvy Commits Major Investments to Boost Gaming Industry in Saudi Arabia  

Prince Faisal bin Bandar bin Sultan, President of the Saudi Esports Federation. (SPA) 
Prince Faisal bin Bandar bin Sultan, President of the Saudi Esports Federation. (SPA) 
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Savvy Commits Major Investments to Boost Gaming Industry in Saudi Arabia  

Prince Faisal bin Bandar bin Sultan, President of the Saudi Esports Federation. (SPA) 
Prince Faisal bin Bandar bin Sultan, President of the Saudi Esports Federation. (SPA) 

Saudi Arabia is placing the gaming and esports sector at the heart of its economic transformation, allocating billions of dollars to build the Kingdom into a global hub for creativity and investment in digital entertainment. Backed by a national strategy, the Kingdom aims to position itself as a leader in game development, publishing, and competitive esports.

A clear demonstration of this ambition came with the Esports World Cup, hosted in Riyadh, which drew more than 2,000 players from 200 clubs from over 100 countries. The seven-week tournament concluded on Sunday night with Prince Mohammed bin Salman, Crown Prince and Prime Minister, awarding Saudi Arabia’s Team Falcons as champions of the 2025 edition.

Spanning 25 competitions across 24 different games, the event featured record-breaking prize pools of more than $70 million, redefining the scale of global esports contests and underscoring the Kingdom’s ability to combine innovation and creativity in a rapidly expanding industry.

Speaking at the New Global Sport Conference, Prince Faisal bin Bandar bin Sultan, President of the Saudi Esports Federation, emphasized that “games will always remain at the core of this industry - whether in development, esports, or content creation.”

He noted that gaming revenues in the Middle East and North Africa reached $6 billion in 2024, with Saudi Arabia accounting for more than a third of that figure. The region, he added, encompasses 22 countries and over 250 million gamers.

Prince Mohammed bin Salman, Crown Prince and Prime Minister, awards Saudi Arabia’s Team Falcons as champions of the 2025 edition of the Esports World Cup. (SPA)

The role of Savvy

At a press conference in Riyadh, Brian Ward, CEO of Savvy Games Group, outlined the company’s pivotal role in attracting international partners.

Global outreach tours led by Prince Faisal, he explained, are part of the national gaming and esports strategy that has no parallel elsewhere in the world.

Savvy has already invested around SAR 50 billion ($13 billion) in game development and publishing, securing high-profile deals with Scopely and Niantic, while also establishing local studios in Riyadh.

Walter Driver, CEO of Scopely, which was acquired by Saudi Arabia’s Public Investment Fund in July 2023 for $4.9 billion, shared details of the company’s recent performance. In 2024 alone, Scopely recorded over 5 billion hours of gameplay, with half of its active players logging in daily.

He revealed that its titles have been downloaded more than one billion times worldwide, generating cumulative revenues of over $10 billion in 2024.

Since 2019, the company has maintained a compound annual growth rate of 53 percent, far outpacing the global industry average. Flagship titles such as Monopoly Go, Pokémon Go, and Star Trek Fleet Command have each surpassed $5 billion in revenues individually.

Saudi Arabia’s rise in the global gaming and esports arena is part of its broader Vision 2030 to diversify the economy and foster creative industries. By 2030, the sector is expected to contribute more than 50 billion riyals to GDP and create nearly 39,000 new jobs.

The Kingdom also plans to establish 250 new local gaming companies, cementing its role as a key player in an industry now valued at more than $200 billion globally.

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Business

Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.

Business

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 

Business

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.