AlUla, Saudi Arabia - Date palm cultivation in AlUla governorate has witnessed a significant increase in productivity this year, with production surpassing 90,000 tons of dates annually.  The governorate boasts more than 2 million date palm trees, and the Royal Commission for AlUla (RCU) is actively engaged in expanding the...

ACWA was the sole financial advisor to Al Dur Phase II IWPP project company.

Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the planned target of SAR12.4 billion ($3.348 billion) by 33%. They represented 5.2% of the total credit facilities for non-oil exports in the Kingdom. Saudi EXIM Bank disbursed a total of...

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. "In the real world, the current transition strategy is visibly failing on most fronts," Saudi Aramco Chief Executive Amin Nasser said...

The firm said the total dividend for 2023 will be S120 million.

RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in Dammam, connecting the Kingdom to Southeast Asia and India, Saudi Ports Authority (Mawani) announced. This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime...

Riyadh, Saudi Arabia - The capital city of Riyadh is abuzz with excitement as preparations are underway for the premiere performance of the highly anticipated opera, "Zarqa Al-Yamama." Scheduled to debut on April 25 at the prestigious theater of the King Fahd Cultural Center, the opera is poised to make...

DAMMAM, SAUDI ARABIA – With the increase in passenger traffic during Ramadan, the General Directorate of Passports is ramping up efforts to handle the increased number of arrivals at King Fahd Causeway and King Fahd International Airport here. The directorate's officers in Dammam are utilizing modern technology to expedite procedures...

The company's Board announces a dividend of $11.79 million.

The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say a latest IEA report.

RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC 2024, Toronto, Canada under the umbrella of "Invest Saudi". The Saudi delegation was represented at the World’s Premier Mineral Exploration & Mining Convention by the CEO of the Saudi Geological...

Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit ratings of Saudi Arabia at 'A/A-1' with stable outlook. The agency indicated in its report that this rating affirmation is a result of the continuation of the Kingdom's economic and...

Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and 201,000 tons of potatoes, along with notable quantities of onions, cucumbers, and zucchinis, Saudi Ministry of Environment, Water, and Agriculture revealed on Friday. Highlighting the critical importance of conserving food...

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of the country's real GDP in 2023 – the highest level on record, according to an analysis of the General Authority for Statistics data by the Ministry of Economy and Planning....

Diriyah, Saudi Arabia -  Saudi Arabia, has revealed plans for "The Arena in Diriyah," a monumental 76,000-square-meter lifestyle facility set to redefine the region's cultural and entertainment landscape.  Designed by London-based HKS Architects as part of a $63.2 billion masterplan, the arena aims to become the Middle East's premier venue...

RIYADH, SAUDI ARABIA –   Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General Authority for Statistics (GASTAT).  The cost-of-living index for February rose to 110.64 points, according to the base year 2018, from 108.67 points in the same month a year earlier.  Inflation...

Arar, Saudi Arabia -- In a unique and creative initiative, families in Saudi Arabia's Northern Borders Region are using henna body paint to encourage children to fast during Ramadan. The practice involves drawing intricate henna patterns on the hands of young girls, often featuring symbols related to Ramadan and fasting. These...

Riyadh, Saudi Arabia -- Saudi Arabia witnessed a surge in commercial registrations across various business sectors in the last quarter of 2023, with land transport of goods leading the way, the Kingdom's Ministry of Commerce said Wednesday. Land transport of goods witnessing a remarkable increase. By the end of Q4...

The insurance provider had suffered a loss of $18.15m in 2022.

Ittihad's miserable night was summed up in the final minute of normal time, when striker Abderrazak Hamdallah was given a second booking for grabbing Hilal defender Ali Al Bulaihi by the throat. The confrontation sparked a number of clashes between the opposing sets of players.

The company's board had decided 15% cash dividend for H2 2023.

Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real estate in Makkah and Madinah, according to global property consultancy Knight Frank’s inaugural Destination Saudi report Knight Frank surveyed 506 Muslim global HNWI from nine countries to understand their attitudes,...

Madinah, Saudi Arabia -- The United Nations Human Settlements Programme (UN-Habitat) has recognized Madinah for attaining Gold Level in the SDG Cities Global Initiative, becoming the first Saudi and Arab city, and the third internationally, to receive this recognition of achievement. Al-Madinah Region Development Authority said that the city was...

While 93 percent of companies in the kingdom have an AI strategy, only 8 percent feel fully prepared, according to the Cisco AI Readiness Index for Saudi Arabia. The biggest skills gap identified is comprehension of AI tools (31 percent). Thankfully, 82 percent of companies are investing in employee AI...

In his Ramadan message, King Salman while giving thanks for the blessings bestowed upon the kingdom said the war in Gaza would cast a shadow during the holy month. He said "our hearts are heavy with sorrow for the ongoing suffering of our Palestinian brothers facing relentless aggression."

In Saudi Arabia, the start of the holy month had been cast into doubt after some of the kingdom's observatories reported that the moon was obscured by "cloudy weather and dust particles". But final confirmation of the sighting came through the Al Majmaah University Astronomical Observatory in Riyadh.

Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership to launch a new air route in an effort to enhance air connectivity between the two countries. Beginning on April 8, China Eastern Airlines will introduce three weekly flights directly...

RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that it has adopted the chain-linking methodology to calculate the real GDP in the country. The Q4 2023 results and the annual results for the same year have been reached at...

Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) continued to decline for the 13th month in a row, falling 8.8 percent in January compared to Jan 2022, on the decrease in mining and quarrying activity. Given the relative importance of mining and quarrying activity, which amounted to 61.4...

The oil giant posted a 24.7% fall in net profit to US$121.25bn.

AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months of 2024, compared to US$1.79 billion (JD1.272 billion) for the same period last year. According to statistical data obtained by Petra, exports of five sectors recorded an increase, while the...

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of customs duty exemptions for various industrial products and materials starting April 1. Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential...

BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater inbound tourists to Saudi Arabia as part of its Vision 2030 program. The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the...

Riyadh, Saudi Arabia -- A total of $13.4 billion in investments were announced during the third edition of the International Tech Conference LEAP, the biggest global tech event in terms of turnout, which has concluded in Riyadh on Thursday. LEAP conference organized by the Ministry of Communications and Information Technology,...

Jeddah, Saudi Arabia - Jeddah is poised to host Alicia Keys, the legendary musician, singer, and multiple Grammy-award winner, at the Jeddah Corniche Circuit Main Stage on March 9. This performance is set to be a highlight of the Formula 1 STC Saudi Arabian Grand Prix 2024 festivities. Alicia Keys...

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's PIF sovereign wealth fund, according to state media. Aramco is the main source of revenue for Crown Prince and Prime Minister Mohammed bin Salman's ambitious economic and social reform program...

Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing for what organizers are terming as "record-breaking" final day with more announcement of investments expected to be made on the occasion. Abdullah Al-Swaha, Saudi minister of communications and information technology,...

Riyadh, Saudi Arabia - Saudi Arabia unveiled its first male humanoid robot ‘Muhammad’ during the second edition of DeepFast in Riyadh which kicked off at the Riyadh Exhibition and Convention Centre in Malham on Monday. A 7-second video of the robot is now viral. In it, the reporter Rawya Kassem,...

Riyadh, Saudi Arabia -- After announcing a staggering US$11.9 billion of investments on Monday, LEAP 2024, the world's most attended technology exhibition, unveiled another raft of investments totaling over US$888 million on Wednesday. The investments at LEAP 2024, which runs until March 7 at Riyadh Exhibition and Convention Centre in...

The company's board announces a dividend of $775 million.

The fund saw participation from leading sovereign wealth funds.

Jeddah, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan has emphasized the unanimous rejection of the displacement of Palestinians from the Gaza Strip by the Islamic countries. During his presidential address at the Extraordinary Session of the Council of Foreign Ministers of the Organization of Islamic...

The surge of three GCC nations in the Global Soft Power Index, with UAE leading with a perfect economy score, highlights their global influence and reputation enhancements.

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a memorandum of understanding (MoU) to expand cooperation and enable investment opportunities in Bahrain, PIF said. PIF said in a statement that the MoU provides multiple...

Higher utilization rates in Saudi, Egypt fuel revenue growth.

RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, rose to 57.2 points in February. The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.    The PMI...

"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have seen the first cohort of female lawyers graduate in 2008, the first female lawyers admitted to the courts in 2013, and the first female arbitrator appointed by the Saudi Center...

Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of its road network, Minister of Transport and Logistics Eng. Saleh Al-Jasser said on Monday. Speaking at the launch of the "Safe distinguished roads" campaign in Riyadh, Al-Jasser highlighted a remarkable...

Dubai, UAE – The Middle East witnessed the highest percentage of new CEO appointments globally, averaging at 16 percent, with Saudi Arabia leading with an impressive 20 percent, a report said. This trend is paralleled by markets such as Poland and Switzerland, with similarly high rates of new appointments, according...

Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology investments on the first day of LEAP 2024 worth more than $11.9 billion. Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the...