Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU) with Ayan for Commerce & Industry. This extension comes as a result of the ongoing valuation and due diligence processes, which are yet to be completed.The original MoU, signed on...

The distribution ratio of the NAV stands at 0.10 percent.

Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge Pavilion Marketplace.The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development, and offer a one-stop shop for listing opportunities...

RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the Kingdom for the third quarter of 2023, highlighting the developments, financial results and its contribution to the Kingdom’s gross domestic product (GDP).The report was issued to provide transparent, accurate and...

They will manufacture, test, sell and service mtu engines in Saudi.

RIYADH, SAUDI ARABIA - A team of Saudi researchers from King Abdullah Children's Specialist Hospital (KACSH) and King Abdullah International Medical Research Center (KAIMRC) have discovered a new genetic disorder.This disorder has been named Alfadhel Syndrome, after Professor Majid Alfadhel, the leader of the research team.The syndrome has gained official...

An update on the PGA Tour website regarding talks said the memo, which reportedly was obtained by The Golf Channel and ESPN, addressed efforts to extend the deadline into 2024. Monahan said in his memo, according to the Golf Channel, that the PGA Tour will "continue our active and productive...

The bank will absolve Amiantit of all its financial obligations.

Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.

Friday night's Turkish Super Cup between Galatasaray and Fenerbahce had been due to be played in Riyadh, Saudi Arabia. But it was postponed before kickoff after Saudi organizers refused to allow players to wear jerseys bearing political slogans.

In 2023, Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait collectively advanced in technology and sustainable development, achieving global integration.

According to the Saudi sports television channel SSC, "the match has been cancelled. The match will not take place." Scheduled to be played on Friday between Galatasaray and Fenerbahce, the Turkish SuperCup was postponed at the last minute after Saudi organisers refused to allow players to wear jerseys bearing "political...

Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası A.Ş. and Albaraka Türk Katilim Bankasi A.S. The agreement is likely to help boost trade between the two countries and facilitate the flow of Saudi non-oil exports to the Turkish...

Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a significant milestone in their exploration efforts. Initiated in 2022, the company's exploration program led to discovery of a promising gold resource potential spanning across a 100-kilometer stretch from the existing...

KLP, which manages over 700 billion kroner ($70 billion), said the exclusion amounted to $15 million. The fund dropped 11 companies in the telecommunications and real estate sectors from Kuwait, Qatar, Saudi Arabia and the United Arab Emirates "over unacceptably high human rights violations' risks".

Tunis - Tunisia and Saudi Arabia signed seven memoranda of understanding in various fields and sectors on Wednesday afternoon The agreements were signed between acting Tunisian Minister of Economy and Planning, Sihem Nemsia Boughdiri, and Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef. during the 11th session...

New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala project in Saudi Arabia's Red Sea region. The project, covering 4,155 sq km within the Prince Mohammed bin Salman Natural Reserve, is a high-end tourism destination.The contract, awarded by the...

The collaboration will involve efforts from both parties.

Riyadh, Saudi Arabia -- Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects in 2024, Minister Bandar AlKhorayef said.The coming year will witness the execution of a big number of projects as well as investments, AlKhorayef added on the sidelines of the annual...

Riyadh, Saudi Arabia -- Aramco Digital Co. and Intel have unveiled plans to establish Saudi Arabia’s first open radio access networks (RAN) development center.The step aims to drive innovation, promote technological advancement, and contribute to Saudi Arabia’s digital transformation, according to a statement by both companies.This collaboration will accelerate the...

Gulf International Bank is a merchant bank in the Middle East

MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of Beni Mellal Khenifra in Morocco signed a partnership agreement to strengthen economic and commercial cooperation.The agreement was signed on Sunday in the presence of the Assistant Consul General at the...

Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication Union’s ICT Development Index (IDI) 2023.The Information and Telecommunication Technology index monitors the economies of 169 countries to measure their progress in ICT services through two main pillars ‘universal connectivity’...

Riyad, Saudi Arabia -- Key regional players have welcomed the agreement – involving a comprehensive set of measures aimed at establishing a ceasefire, improving living conditions, and resuming political dialogue under the auspices of the United Nations (UN) – reached by the warring parties in Yemen. Jassem Mohamed Albudaiwi, the Secretary...

Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD) with a $34 million loan, has been inaugurated to enhance water and food security in the country and contribute to the development of key developmental sectors.Saudi Fund for Development (SFD)...

UN special envoy Hans Grundberg's announcement marks the latest step to end the nine-year war that has killed hundreds of thousands of people and triggered one of the world's worst humanitarian crises. It follows recent meetings by Grundberg with head of Yemen's Saudi-backed presidential council and the chief negotiator of...

RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the first 50 days after its launch.The season started in late October, and since then, it has witnessed a large visitor turnout at all areas, with expectations that the coming period...

Riyadh, Saudi Arabia — UK's Secretary of State for Defense Grant Shapps welcomed Saudi Arabia's Minister of Defense Prince Khalid bin Salman at Lancaster House Palace in London on Thursday.Upon Prince Khalid bin Salman's arrival, a formal reception ceremony was held, featuring a review of the guard of honor, Saudi Gazette...

Pep Guardiola also made history as the first coach to lift the Club World Cup on four occasions and with three different clubs after previously winning the competition twice at Barcelona and once in charge of Bayern Munich. "To win the treble was truly special, but to win two more...

It will boost the trade between Saudi Arabia and Kazakhstan.

Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries and its ten allies have struggled to boost flagging prices. Moreover, the wider OPEC+ group faces pressure on multiple fronts, as rising US crude production, a looming transition...

Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and businesses will face crucial decisions about spending and investing, where price differentials and interest rates have burrowed into budgets, informing the resources available with less wiggle room, according to the...

Riyadh, Saudi Arabia -- Saudi Arabia’s holdings of US Treasuries reached $117.5 billion in October 2023, up $399 million month-on-month and the highest level since December 2022, new data released by the US Treasury showed.The Kingdom kept the 17th place among the largest holders of US Treasuries for the month,...

Riyadh, Saudi Arabia - "From the Ashes," a Saudi film inspired by true events, is poised to debut on Netflix on January 18, 2024.The film intricately unfolds within the confines of an all-girls' school, where a seemingly routine day takes a harrowing turn when a fire erupts in the school's...

Officially taking over from his half-brother Sheikh Nawaf, who passed away on Saturday, Sheikh Meshal is faced with the task of pulling the country out of longstanding political paralysis and reforming a bloated public sector that have turned Kuwait into one of the Gulf's most laggard states.

Riyadh, Saudi Arabia -- The total value of assets held by public and private investment funds in Saudi Arabia decreased by 1 percent quarter-on-quarter (QoQ) to SAR 507.7 billion ($135.32 billion) by the end of the third quarter of 2023.The number of investment funds rose to 1,209 by the end...

Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain more clout. But the group's enlargement has proven to be "a double-edged sword", noted Ozkardeskaya, with decision-making becoming more difficult.

Despite missing their biggest goal threat and creative hub, City were never troubled as an unblemished record for European sides against Asian teams at the Club World Cup was extended to 14 games. City lacked penetration and punch for the first 45 minutes despite enjoying over 80 percent of possession...

Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application processes. The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years.Abdul Hadi Al-Mansouri, Assistant Minister of Foreign Affairs for Executive Affairs, unveiled the platform...

Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47 billion riyals ($13 billion) by the end of the decade. The goal underlines the country's intent to diversify its economy and bolster the non-oil GDP, Saudi Press Agency reported.Recent data...

Riyadh, Saudi Arabia -- Noor Riyadh Festival 2023 has secured six new Guinness World Records, making it its third consecutive year of record-breaking achievements.The records were set during the closing presentation of an art installation, after the 17 days of celebration, held from November 30 to December 16, 2023.The festival's...

RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City. The US$100 million (SAR 376 million) loan, secured on Sunday, has a duration of seven years and three months...

It will be used to test a range of EV chargers and software.

Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in manufacturing vaccines and biotech solutions. The agreement was inked between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the South Korean GL Rapha Holding Company, Saudi Gazette reported.As...

Riyadh, Saudi Arabia -- King Abdulaziz International Airport in Jeddah, King Fahd International Airport, Abha International Airport, Al-Ahsa International Airport and Gurayat Airport are among the top performers on the General Authority of Civil Aviation's monthly performance reports of the Kingdom's airports in November.The airports are assessed according to 11...

TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an advanced photogrammetry technology developed by VAARST, a leader in marine robotics.This technology is being used to produce high-resolution, 3D digital representations of Al Wajh Lagoon's coral reefs and vital habitats.This...

Tehran, Iran — Iran has waived visa requirements for passport holders from 33 nations, signaling a significant step in opening its doors to global visitors. “The government intends to open the country's doors to the world,” Iranian Minister of Tourism Ezzatollah Zarghami, said on Wednesday as reported by Saudi Gazzete....

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index (LSCI) for Q4 2023, securing a remarkable score of 79.01 points.This aligns with the objectives of the National Transport and Logistics Strategy (NTLS).This achievement adds to the recent major records,...

MBC Group runs a group of TV and radio channels.

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data by the General Authority for Statistics (GASTAT).The cost-of-living index for November rose to 110.06 points, according to the base year 2018, from 108.25 points in the same month a year...