INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Saudi foreign minister to visit Iran on Saturday

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah.
  • This visit follows the agreement reached in March, facilitated by China, which aimed to end the prolonged hostility between the two countries
  • Earlier in June, the foreign ministers of the two countries met in South Africa to discuss plans for the full restoration of relations

Riyadh, Saudi Arabia –  Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan Al-Saud, is scheduled to visit Tehran on Saturday, according to Iran’s semi-official Tasnim news agency. The visit is seen as a significant step in the ongoing diplomatic efforts between the two countries to mend their strained relations. The foreign minister and his delegation will engage in a series of talks with senior Iranian officials during their visit on June 17.

This visit follows the agreement reached in March, facilitated by China, which aimed to end the prolonged hostility between Iran and Saudi Arabia. The diplomatic rift had created instability in the region, particularly in countries like Yemen, Syria, and Lebanon. As a result of the agreement, Iran officially reopened its embassy in Saudi Arabia on June 7, signifying the commitment to restoring diplomatic ties.

Earlier in June, the foreign ministers of Iran and Saudi Arabia met in South Africa to discuss plans for the full restoration of relations and to explore opportunities for regional and economic cooperation between Tehran and Riyadh. 

The negotiations, which spanned several days and were mediated by China, culminated in the historic deal on March 10, paving the way for the reopening of embassies and missions after seven years of estrangement.

Observers have viewed the recent developments as a positive step towards fostering stability and easing tensions in the region. By improving their relations, Iran and Saudi Arabia aim to counter efforts that seek to divide regional countries. 

The potential for enhanced cooperation between the two nations has drawn attention, as it has the capacity to positively impact a region that has been characterized by turbulence for several decades. The United States and Israel, however, have expressed concerns about this detente, highlighting their dismay at the prospect of a closer relationship between Iran and Saudi Arabia.