Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

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.