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FINTECH-
Mastercard launched its Mastercard Gateway payment infrastructure in the Kingdom to support local e-commerce transactions with the backing of the Saudi Central Bank (Sama), according to a press release. The Mastercard Gateway is a payment solutions platform that supports over 30 payment methods, with fraud detection tools to ensure secure and efficient transaction processing.
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CAPITAL MARKETS-
Sab Invest lined up approval from the Capital Market Authority (CMA) to offer its Hang Seng Hong Kong ETF on Tadawul, the authority said in a statement. This marks the second Hong Kong-focused ETF to be cleared by the CMA, following the Albilad CSOP MSCI Hong Kong China Equity ETF, which received clearance last month. The ETFs are expected to raise USD 500 mn each, Bloomberg reported last month.
HOSPITALITY-
Thailand-based Six Senses Hotels plans to launch Six Senses Amaala in 2H 2025, featuring 64 rooms, six suites, 30 villas, and 25 residences, according to a press release. No details were provided on the investment ticket. This will be the brand’s second venture in Saudi, following its existing oasis resort Southern Dunes, The Red Sea in Umluj, according to the company’s website.
EDUCATION-
King Abdulaziz University is now accepting female students into the faculty of maritime studies, according to state news agency SPA. The university has also created a student affairs agency to help women enter these specializations.
TRANSPORTATION-
The Transport General Authority (TGA) signed two MoUs on using hydrogen vehicles and sustainable mobility solutions, it said in posts on X (here and here). The TGA signed an agreement with Abdullah Hashim Industrial Gases and Equipment (AHG Group) to cooperate on testing hydrogen-powered vehicles and supplying hydrogen fuel for testing. Meanwhile, it signed another agreement with Abdul Latif Jameel Company to promote the use of hydrogen vehicles, carry out research on eco-friendly vehicles, and launch training programs for those working in the sustainable mobility sector.
ALSO- The TGA rolled out a pilot run for the Kingdom’s first hydrogen-powered taxi, it said in a separate post on X.
