INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Saudi Arabian delegation arrives in Iran to cement diplomatic ties

Iran's Foreign Minister Hossein Amir-Abdollahian (L), Saudi Foreign Affairs Minister Prince Faisal bin Farhan (R) and Chinese Foreign Minister Qin Gang (C) during a meeting in Beijing on April 6. (SPA)
  • Iranian President Ebrahim Raisi has been invited by Saudi King Salman to Riyadh, a trip planned to take place after the holy fasting month of Ramadan.
  • The two countries severed ties after protesters in the Islamic republic attacked Saudi diplomatic missions following Riyadh's execution of a prominent Shiite cleric.

Riyadh, Saudi Arabia — A Saudi Arabian diplomatic delegation arrived on Saturday in Tehran to discuss the reopening of its diplomatic missions after a seven-year absence, Riyadh’s foreign ministry said.

The visit follows an unprecedented meeting between the foreign ministers of both countries in China this week after they agreed last month to restore diplomatic ties.

Saturday’s visit is part of “implementing the tripartite agreement” reached on March 10 between the two regional powers, brokered by China, to restore relations ruptured in 2016, the Saudi foreign ministry said, cited by the official Saudi Press Agency.

The two longtime Middle East rivals have now pledged to work together.

Saudi Foreign Minister Prince Faisal bin Farhan and his Iranian counterpart Hossein Amir-Abdollahian met in Beijing on Thursday and vowed to bring “security and stability” to the turbulent Gulf region.

On Saturday, a Saudi “technical delegation” met Iran’s chief of protocol at the foreign ministry in Tehran, SPA said.

The two countries severed ties after protesters in the Islamic republic attacked Saudi diplomatic missions following Riyadh’s execution of a prominent Shiite cleric.

Iranian President Ebrahim Raisi has been invited by Saudi King Salman to Riyadh, a trip planned to take place after the holy fasting month of Ramadan.