INSEAD Day 4 - 728x90

Riyadh

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.
  • Blinken urges Saudi-Israel normalcy, pledges no nukes for Iran

    "The United States has a real national security interest in promoting normalization between Israel and Saudi Arabia. We believe we can and indeed we must play an integral role in advancing it," Blinken told the American Israel Public Affairs Committee, the powerful pro-Israel lobby.
  • Iran says will reopen embassy in Saudi Arabia on Tuesday

    Iran is set to reopen its embassy in Saudi Arabia on Tuesday following a seven year closure, Tehran and a diplomatic source said, sealing a Chinese-brokered rapprochement deal announced in March. Riyadh severed relations with Tehran in 2016 after its embassy and consulate in Iran were attacked during protests.
  • US, Saudi Arabia urge truce talks between warring Sudan groups

    The last truce was agreed to allow desperately needed humanitarian aid and safe passages into areas of Sudan ravaged by the fighting, but like all that preceded it was routinely violated by both sides.
  • Syrian leaders want UN to re-begin talks with President Assad

    Syria's opposition urged the resumption of moribund United Nations-sponsored talks with the regime of President Bashar al-Assad, who has returned to the Arab fold after years of isolation. "The international, regional and Syrian conditions provide an appropriate circumstance for the resumption of direct negotiations...," the Syrian Negotiation Commission said in...
  • ‘Benzema and Messi to Saudi Arabia?’: Saudi minister’s comment fuels speculation

    Riyadh, Saudi Arabia - Saudi Arabia's Minister of Sports, Abdelaziz Al-Faisal, has reportedly added fuel to the speculation surrounding Lionel Messi and Karim Benzema's potential moves to the Gulf country, effectively ending their careers in European football.  Benzema is said to have received a staggering €400 million offer from an...
  • Saudi-Russian discord clouds OPEC+ output policy meeting

    Analysts are now divided over whether Saudi Arabia and Russia will keep the group on course with its current output policy, or further curtail production. "The recent inconsistent rhetoric from the two heavyweights certainly threw the spanner in the works and it is hard to predict the outcome," said Tamas...
  • ‘I will continue’: Ronaldo says he’ll stay in Saudi Arabia

    Riyadh, Saudi Arabia - Portuguese star Cristiano Ronaldo pledged to remain in Saudi Arabia next season on Thursday despite failing to land any silverware since his lucrative move to the oil-rich kingdom. Ronaldo's January signing for Al Nassr has been followed by speculation about how long he will stay, including...
  • Saudi merchandize exports down 14.6% in Q1 as oil exports fall

    Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a report by the General Authority for Statistics (GASTAT) said. The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1...
  • Saudi Arabia’s SME sector grows by 4.8% in Q1 2023

    Riyadh, Saudi Arabia - The number of SMEs in Saudi Arabia increased by 4.8 percent in the first quarter of 2023, reaching a total of 1.2 million, Saudi Arabia's General Authority for Small and Medium Enterprises (Monsha'at) reported on Wednesday.  This growth was driven by the launch of 88,858 new...
  • PwC opens regional headquarters

    The Middle East headquarters has been set up in Riyadh.
  • Saudi population expands one third in last 13 years

    "The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said. It set the total population of the country at 32.2 million: 58.4 per cent Saudi nationals and most others from South Asia or elsewhere in the MENA...
  • PIF sets up firm Badael to curb tobacco use in Saudi Arabia

    RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and distribute innovative products targeted to reduce smoking prevalence and promote healthier lifestyles by offering tobacco-free and less harmful alternatives.   The initiative, in the run-up to the World Health Organization...
  • Saudi Arabia,  UK ink pact to develop critical minerals supply chains

    Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals supply chains. The agreement was signed between Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, and the United Kingdom’s Secretary of State for Business and Trade, Kemi...
  • Saudi astronauts at ISS make amateur Radio Contact with students in kingdom

    Riyadh, Saudi Arabia - Saudi astronauts Rayyanah Barnawi and Ali Al-Qarni have used the Amateur Radio on board the International Space Station (ISS) to talk with a group of students. The astronauts made the call when the ISS flew over the ground station in Riyadh.  The call, made in coordination...
  • Saudi Arabia’s logistics sector set to reach $15.3 bn by 2030

    Riyadh, Saudi Arabia - The logistics sector in Saudi Arabia is poised for remarkable expansion, with its market size projected to grow to SAR 57.4 billion ($15.3 billion) by 2030, according to latest data.  The surge is an outcome of the efforts made by the Ministry of Transport & Logistics...
  • Bahrain to resume diplomatic relations with Lebanon

    The Bahraini decision comes the day after the Arab League summit in Saudi Arabia against a backdrop of unexpected rapprochement between Riyadh and Tehran, brokered by Beijing. The warming of relations between the region's two great rivals has paved the way for a major diplomatic reshuffle in the Arab world.
  • Saudi astronauts to conduct 11 experiments at Space Station

    Riyadh, Saudi Arabia -– Two Saudi astronauts will conduct 14 scientific and research experiments during their ongoing space mission. The Kingdom’s first-ever astronauts Ali Al-Qarni and Rayyanah Barnawi, who is the first Muslim female astronaut, will engage in 11 research and scientific experiments within a microgravity environment at the International...
  • Namibia supports Saudi Arabia’s bid to host Expo 2030 in Riyadh

    Riyadh, Saudi Arabia--Namibia has voiced its support for Saudi Arabia's bid to host Expo 2030 in Riyadh. This was announced by Dr. Alfredo Tjiurimo Hengari, the presidential press secretary to the President of Namibia Hage G. Geingob following his meeting with the Saudi advisor at the royal court Ahmed bin...
  • Barnawi’s voyage: First Saudi female astronaut carries dreams of Arab women to space

    Two astronauts, Barnawi and Ali Al-Qarni, said that they are fully prepared for their upcoming scientific mission to the International Space Station which is scheduled on May 21.
  • A $100m Film Investment Fund established in Saudi Arabia

    Riyadh, Saudi Arabia - A new Film Investment Fund was established  in Saudi Arabia on Wednesday with a $100m capital injection, aimed at boosting the development of the country’s growing film industry.  The fund is the first capital injection initiative under the Investment Track of Saudi Cultural Development Fund's recently...
  • Saudi Arabia ranks 2nd fastest growing tourism destination in world

    The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest quarterly performance.
  • Saudi Arabia’s insurance sector grows by 26.9 percent in 2022

    Riyadh, Saudi Arabia -- Saudi Arabia's insurance sector grew by 26.9 percent in 2022, bringing gross written premiums to SAR 53 billion ($14.13 billion), Saudi Central Bank (SAMA) said in a report. SAMA said in the 16th Saudi insurance market annual report that health, protection and savings, and motor insurance...
  • Saudi football club silent on Messi as fans awaits signing

    RIYADH, SAUDI ARABIA - Al-Hilal president Fahd Bin Nafel refused to comment on the possibility of signing Lionel Messi, insisting his Saudi Arabian side is "more important than just one player", as fans clamor for the World Cup winner. "Don't ask me about Messi," Bin Nafel told reporters when asked after...
  • Saudi, Russian foreign ministers talk on phone, discuss ties, Ukraine

    Riyadh,  Saudi Arabia - Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah discussed in a phone call on Friday, with his Russian counterpart Sergey Lavrov, bilateral relations and the ongoing war in Ukraine. During the call, the two ministers also exchanged views on a number of regional...
  • Saudi Arabia to boost maritime cooperation with South Korea, Qatar

    Riyadh, Saudi Arabia - A delegation of Saudi Arabia discussed steps to enhance cooperation in maritime transport and ports with South Korea, local media reports said. Led by Saleh Al-Jasser, Saudi Minister of Transport and Logistic Services, the delegation visited South Korea and met Cho Seung-hwan, Minister of Oceans and...
  • Messi makes blockbuster Saudi move, will play next season

    The deal would mean Messi potentially joins his arch-rival Cristiano Ronaldo in the Saudi league. There was no confirmation from Messi's current club Paris Saint-Germain, who noted simply that he was under contract until June 30 when contacted by AFP.
  • Saudi Arabia launching tourism projects worth $400m

    Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations around the kingdom.  The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella.  The announcement...
  • Saudi Arabia approves rules to aid foreign investment in securities market

    Riyadh, Saudi Arabia - Saudi Arabia has approved new rules aimed at boosting foreign investment in the country's securities market.  The rules framed by the Capital Market Authority (CMA) include those for Foreign Investment in Securities, amendments to the Investment Accounts Instructions, amendments to the Implementing Regulation of the Companies...
  • Ship carrying civilians evacuated from Sudan arrives in Saudi Arabia

    A boat carrying Saudi citizens and other nationals rescued from battle-scarred Sudan arrived in Jeddah, Saudi state television said, in the first announced evacuation of civilians since fighting began. "The first evacuation vessel from Sudan has arrived, carrying 50 (Saudi) citizens and a number of nationals from friendly countries," the...
  • Saudi Crown Prince, Russian President discuss bilateral ties

    Riyadh, Saudi Arabia - Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud discussed bilateral relations in a phone call  with Russian President Vladimir Putin  on Friday. The two leaders exchanged views on a number of issues of common concern, Saudi Press Agency reported.  The...
  • Saudi Arabia’s FDI bid: Economic zones, 100% foreign ownership, tax sops

    The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones such as Jebel Ali have made it a regional hub for multinational corporations.
  • Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran

    The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr al-Nimr. They have pledged to work for stabilizing the situation in the Middle East, where they have been supporting opposite sides in the conflicts of Syria and Yemen.
  • Saudi plane hit by gunfire in Sudan unrest, says airline

    A passenger plane preparing to take off from Sudan for Saudi Arabia came under fire as deadly fighting rocked Khartoum, the kingdom's flag carrier said. The Airbus A330 bound for Saudi Arabia "was exposed to gunfire damage... with guests and crew on board" ahead of its scheduled departure to Riyadh,...
  • Saudis among scores of Yemen war prisoners freed on day two of swap

    The first flight of the day took off from the southern Saudi city of Abha before 9:00 am (0600 GMT), headed for Yemen's Houthi-held capital Sanaa with 120 Houthi rebel prisoners, ICRC public affairs and media adviser Jessica Moussan said. It was followed by a flight from Sanaa to Riyadh...
  • Arab nations gather to discuss ending Syria’s long isolation

    Arab countries gathered in Jeddah on Friday to discuss ending Syria's long spell in the diplomatic wilderness as regional relations shift following Saudi Arabia and Iran's decision to resume ties.
  • Saudi inflation eases to 2.7%  in March: official data

    Riyadh, Saudi Arabia - Saudi Arabia's annual inflation rate dropped to 2.7 percent in March from 3 percent in February, as per government data.  The decrease was mainly driven by a rise in housing rents. Housing, water, electricity, gas, and other fuels rose by 7.4 percent from the previous year,...
  • TRENDS poll: GCC residents opt to be in Dubai for Eid vacation

    Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate the festival in, with Doha coming at a distant second.
  • Iran officials to visit Saudi Arabia on April 14 ahead of reopening diplomatic missions

    Iran's foreign ministry said a delegation will visit Saudi Arabia by April 14 to pave the way for reopening its diplomatic missions there following a similar move by Riyadh. The announcement comes a day after a Saudi delegation arrived in Tehran and follows a historic meeting between the two Gulf...
  • Omani group in Yemen to discuss Saudi-Houthi peace deal

    Nearly a decade of war in Yemen has claimed hundreds of thousands of lives, both directly and indirectly, and triggered what the United Nations has called the world's worst humanitarian crisis. The Huthis seized the capital Sanaa in 2014, triggering the conflict with the government backed for eight years by...
  • Four Saudi cities find top slots on IMD Smart City Index for 2023

    Riyadh, Saudi Arabia--Four cities in Saudi Arabia were placed in the IMD Smart City Index for 2023. According to the index, released by the International Institute for Management Development (IMD), the Saudi capital city of Riyadh maintained its position as the third smartest Arab city. Makkah entered in the index...
  • Iran, KSA agree to resume flights and bilateral visits

    Iranian Foreign Minister Hossein Amir-Abdollahian and his Saudi counterpart Prince Faisal bin Farhan have pledged to reopen diplomatic representations within two months.
  • MODON to acquire GE’s Industrial Complex in the Eastern Region

    Riyadh, Saudi Arabia --  The Authority for Industrial Cities and Technology Zones (MODON) has signed an agreement with GE whereby the latter's factories spread over 120,000 square metres in the Eastern Region will come under MODON supervision. The agreement was signed between the CEO of the MODON Eng. Majed Al-Argoubi...
  • Joblessness among Saudis falls to 8%, an all-time low

    The jobless rate for Saudi women dropped to 15.4 percent in the fourth quarter, down 5.1 percent from the third quarter and 7.1 percent from a year earlier.
  • Saudi ministries ink MoU with Korean NAVER Group for joint digital projects

    Riyadh, Saudi Arabia - The Saudi Ministry of Municipal, Rural Affairs, and Housing and the Ministry of Investment have signed a memorandum of understanding (MoU) with the NAVER Group of South Korea to undertake joint digital projects in the kingdom .  The NAVER, NAVER LABS, and NAVER Cloud, specialize in...
  • Saudi Arabia agrees to partner with China-led security bloc

    Riyadh, Saudi Arabia -- Saudi Arabia has agreed to join the Shanghai Cooperation Organization as a "dialogue partner", state media reported on Wednesday, the latest indication of closer political ties with China. The Shanghai Cooperation Organization was established in 2001 as a political, economic and security organization to rival Western institutions....
  • Xi hails Middle East thaw in call with Saudi crown prince

    In his first comments on the matter to be made public since the deal was struck, Xi said the dialogue promoted by China would "play a major role in strengthening regional unity and cooperation". Crown Prince Mohammed on Tuesday "expressed the Kingdom's appreciation for the Chinese initiative to support efforts...
  • Saudi Arabia’s TASI ends the week higher while UAE markets fall

    Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
  • Saudi Arabia’s Women’s National Team enters FIFA World Ranking

    The national team, commonly known as the ‘Green Falcons’, are currently led by Finish Head Coach Rosa Lappi-Seppälä, who took over from the newly promoted Women’s Technical Director Monika Staab.
  • E-invoicing: Saudi Arabia stipulates criteria for selecting establishments

    Riyadh, Saudi Arabia - Saudi Zakat, Tax and Customs Authority (ZATCA) has identified the criteria for selecting the establishments targeted in the third group of the “connectivity and integration” phase of e-invoicing. The authority said the third group includes all the establishments that generated more than SAR250 million ($67 million)...
  • After Iran deal, KSA in talks with Syria to resume consular services

    Riyadh has been hinting at a rapprochement with Syria for weeks. It sent aid to both rebel-held and government-controlled parts of the country in the aftermath of a devastating earthquake that struck southeastern Turkey and northern Syria on February 6, killing tens of thousands of people.