Search Site

Trends banner

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

Saudi Arabia not part of BRICS yet, still considering invite: Report

The Crown Prince has directed the implementation of the project to strengthen historic Jeddah buildings.
  • South Africa's Foreign Minister Naledi Pandor's recently asserted the kingdom's membership, but a Saudi official told Reuters the Kingdom has not yet responded to the invitation.
  • BRICS had extended membership offers to Saudi Arabia, United Arab Emirates, Egypt, Iran, Argentina, and Ethiopia last August.

Riyadh, Saudi Arabia — Saudi Arabia remains undecided on accepting the BRICS bloc’s invitation to join, despite initial claims of its accession.

South Africa’s Foreign Minister Naledi Pandor’s recently asserted the kingdom’s membership, but a Saudi official told Reuters that the Kingdom has not yet responded to the invitation to join BRICS but “it is still under consideration”.

BRICS, currently comprising Brazil, Russia, India, China, and South Africa, extended membership offers to Saudi Arabia, United Arab Emirates, Egypt, Iran, Argentina, and Ethiopia last August. Argentina previously declined the invitation in November.

Inclusion in BRICS would enhance the bloc’s economic influence and align with its proclaimed ambition to represent the Global South, potentially reshaping the international order it deems antiquated.

Earlier this month, Saudi Arabia’s Economy Minister, Faisal Alibrahim, acknowledged ongoing deliberations on the matter. The kingdom seems to be cautiously navigating complex geopolitical situations involving the United States, China, and Russia, media reports said.

While fellow Gulf Cooperation Council member, the United Arab Emirates, has confirmed joining the bloc, Saudi Arabia continues its careful evaluation amidst shifting global dynamics, the reports said.