Entertainment sector to benefit from Saudi Chambers deal with MENA Leisure and Attractions Council

The deal aims to connect buyers and suppliers in the industry through events and gatherings and provide ongoing education and training. Shutterstock.
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Updated 21 August 2024
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Entertainment sector to benefit from Saudi Chambers deal with MENA Leisure and Attractions Council

RIYADH: A cooperation agreement has been signed between a Saudi business group and a regional entertainment body to develop the industry in the Kingdom and across the Gulf.

Inked between the Federation of Saudi Chambers of Commerce and the Middle East and North Africa Leisure and Attractions Council, the deal aims to connect buyers and suppliers in the industry through events and gatherings and provide ongoing education and training.

The federation explained on its X account that the agreement aims to promote safe practices, regional development, professional growth, and commercial success in the sector.

The signing comes as Saudi Arabia’s cultural landscape is being expanded as part of the Kingdom’s Vision 2030 economic diversification strategy, with the entertainment sector earmarked to contribute $23 billion – 3 percent – to gross domestic product by the end of the decade.

Key entertainment services, including licenses for facilities and talent and crowd management certifications, can now be accessed on Saudi Arabia’s new digital platform, launched by the General Entertainment Authority earlier in August.

The initiative is available through the Saudi Business Center’s digital platform and aims to streamline processes for entrepreneurs and companies, boosting business activity and investment in the sector.

The first phase, which started on August 11, targets essential services designed to help businesses operate efficiently and adjust to the Kingdom’s evolving entertainment sector.

The London-based global publishing, research, and consulting firm Oxford Business Group projects that the Saudi entertainment and amusement market will be valued at roughly $2.55 billion by 2024 and is expected to grow to $4.20 billion by 2029, representing a compound annual growth rate of 10.44 percent.

By 2030, the broader entertainment sector is projected to grow to approximately $1.17 billion, reflecting an annual increase of 47.65 percent.

This growth is fueled by a surge in projects in the sector, such as the Qiddiya entertainment city in Riyadh.


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.