Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR 193.45 billion ($51.58 billion) in 2023, Ministry of Justice data showed.The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of sold...

Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion is the Islamic finance sector, followed by the food and beverage industry, pharmaceuticals, medical and health products, cosmetics, as well as travel and tourism.In education and health sectors, recent economic...

Riyadh, Saudi Arabia - Saudi Arabia is planning to start air mobility that is most advanced and safest in the Middle East. The Saudi General Authority of Civil Aviation (GACA) is spearheading the Advanced Air Mobility (AAM) initiative that encompasses a spectrum of innovative solutions, ranging from small, unmanned aircraft...

Riyadh, Saudi Arabia - The concept was controversial: a pop-up bar offering bellinis and spritzes that, while non-alcoholic, were served in chilled cocktail glasses in the capital of teetotalling Saudi Arabia.But although customers were initially wary of the experiment -– which coincided with the Muslim holy month of Ramadan, a time...

Riyadh, Saudi Arabia - The Saudi real estate sector has witnessed a remarkable surge in local employment, boasting a substantial increase from 12,000 to over 26,000 citizens working in the industry since July 2021.The significant 116% leap comes in the wake of the government's decision to prioritize the localization of...

Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to contribute SR750 billion ($200 billion) to the national economy, the kingdom's Minister of Tourism Ahmed Al-Khateeb said during his address at the Real Estate Future Forum in Riyadh on Monday....

RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia, and the Municipality of Al-Ahsa signed an Memorandum of Understanding (MoU).The MoU aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia, a...

Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals for Special Talent Residency. The electronic portal of the center outlined that this particular residency is designed for individuals with advanced capabilities and experiences in scientific, administrative, and research fields,...

Kampala, Saudi Arabia - Saudi Deputy Minister of Foreign Affairs Eng. Waleed Al-Khereiji stressed on Sunday the imperative to halt military operations in the Palestinian territories in a way that ensures the protection of civilians in line with international laws and humanitarian principles. Speaking on behalf of Custodian of the...

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service providers, based on the number of complaints filed with GACA by travelers during December 2023.According to GACA, 1,308 complaints were filed by travelers on Saudi air carriers last December.Flynas had...

Doha, Qatar - Roberto Mancini warned Saudi Arabia against falling victim to the kind of Asian Cup shock suffered by favorites Japan when his side face Kyrgyzstan on Sunday.Saudi Arabia fought back to beat Oman 2-1 in stoppage time in their opening match in Qatar and can seal their place in...

Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year, revealed a panel discussion of the prominent leaders in the Saudi cinema industry. The panel, consisting of cinema industry leaders, film specialists, and enthusiasts, underlined the remarkable performance of the...

Riyadh, Saudi Arabia - The city of Yanbu witnessed on Friday evening the closing ceremony of the 5th edition of Saudi Dakar Rally, and the 46th in the history of the world rally, after an exciting competition for 14 days in 12 stages, with a distance exceeding the 7,500 km....

Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and that the future outlook looked positive despite recent shocks.The minister was speaking at Davos in a session titled "Saudi Arabia: Continuing Efforts towards a More Sustainable Economy". Al-Jadaan said that...

Davos, Switzerland — Saudi Arabia will host a special meeting of the World Economic Forum (WEF) in Riyadh this April, Saudi Economy and Planning Minister Faisal Al Ibrahim said on Thursday.Speaking at the panel 'Saudi Arabia: The Course Ahead', Faisal Al Ibrahim said the event will focus on global collaborations, growth,...

Riyadh, Saudi Arabia - Jordan Henderson has moved a step closer to ending his much-criticized spell with Saudi club Al-Ettifaq by undergoing a medical with Dutch side Ajax, a source close to the negotiations told AFP on Thursday.The 33-year-old England midfielder has been with the Saudi club for just six months...

Davos, Switzerland -- The Saudi Minister of State for Foreign Affairs, Cabinet's member, and Climate Affairs Envoy, Adel bin Ahmed Al-Jubeir has called for diversification of energy sources to meet the increasing global demand for energy.The minister made these remarks Wednesday at a session titled “Bold Steps for a Sustainable...

Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi Arabia, Bloomberg reported. The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain.“Our aim is to make the best quality steel...

Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an increase of 1.5 million barrels per day (bpd) to reach 104 million bpd in 2024. “This is after rising by roughly 2.6 million bpd in 2023," Nasser said. "Higher demand,...

Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more than doubling the capital allotted to it, from $3 billion to $7 billion.This, Aramco said in a statement, will take Aramco’s overall venture capital allocation to $7.5 billion, which also...

The growth aligns with the aims of national logistics strategy.

The contract was awarded by Dubai Roads and Transport Authority.

Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the highest volume in the region, Iran's ambassador to Saudi Arabia, Alireza Enayati, said during his meeting Sunday with the President of the Federation of Saudi Chambers, Hassan bin Mujab Al-Huwaizi....

Riyadh, Saudi Arabia - Saudi Ministry of Human Resources and Social Development (MHRSD) announced on Monday that it has cut the upper limit of fees for recruiting domestic workers from a number of countries. These countries include the Philippines, Sri Lanka, Bangladesh, Uganda, Kenya, and Ethiopia.The initiative comes within the...

The aim is to help develop of Open RAN technologies.

RIYADH, SAUDI ARABIA - The Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday the launch of the Prince Mohammed bin Salman Stadium, an iconic multi-use venue set to further enhance Qiddiya’s philosophy of the Power of Play.Upon opening, it is anticipated to host some of Saudi...

RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of understanding for cooperation in the field of accounting, auditing and professional work.The agreement was signed by General Court of Audit (GCA) President Dr. Hussam Al-Angari and Auditor General of the...

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation declined to 1.5 percent in December 2023, compared with 1.7 percent in November, according to recent data by the General Authority for Statistics (GASTAT). The cost-of-living index for December rose to 110.15 points, according to the base year 2018, from 108.53 points in the same month a...

Riyadh, Saudi Arabia - The Saudi National Program to Combat Commercial Concealment has exposed various instances falling under the umbrella of commercial concealment or cover-up (tasattur) and clarified the distinctions between such practices and other violations.The program identified cases of tasattur, including scenarios where a Saudi citizen transfers ownership of...

"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public health, sustainability, energy, industry, and the economies of the future. This aligns with the ambitions and national priorities for research, development, and innovation declared by the Kingdom," he adds.

Riyadh, Saudi Arabia - The Saudi Arabian Boy Scouts Association will participate in the Republic Day Camp (RDC) in India from January 16 to 29. This is part of the events held by India in conjunction with its presidency of the Group of Twenty (G20) under the theme "One Earth,...

In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.

Riyadh, Saudi Arabia -- The number of individual investors on the Saudi Exchange (Tadawul) reached 6.05 million by the end of Q3 2023, an increase of 117,000 compared with the previous quarter.Argaam reported that the number of male investors reached 4.48 million in Q3 2023, while the number of female...

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry and Mineral Resources, has witnessed the signing of several memoranda of understanding (MoUs) between a number of government agencies, companies and institutions.New exploration sites were announced as well as other...

Riyadh, Saudi Arabia -- Renowned fashion designer Elie Saab will unveil the Riyadh Season Fall Collection 2025 after signing an MoU with Saudi Arabia's General Entertainment Authority.The Authority said the MoU will create a one-of-a-kind experience that intertwines fashion and entertainment during the upcoming Riyadh Season.This initiative, which is inked...

Saudi Pro League sides have shelled out to lure big-name players while Saudi Arabia is set to host the 2034 World Cup, all part of a broader move into global sport. With Roberto Mancini, who guided his native Italy to European Championship glory in 2021, now coach, the Saudis start...

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the World Economic Forum (WEF) annual meeting 2024 in Davos, Switzerland, showcases its vital role in addressing global challenges, particularly in supply chains and capacity building.In remarks to the Saudi Press...

"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships play key role in addressing contemporary challenges, particularly in food, water, energy, and securing sustainable global supply chains," he adds.

Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445 AH Hajj season on Friday. The commencement follows the conclusion of the third edition of the Hajj and Umrah Services Conference and Exhibition, a four-day event that showcased facilities for...

RIYADH, SAUDI ARABIA - Konoz, an initiative of the Ministry of Media's Center for Government Communication (CGC), has released a documentary called Horizon that, in collaboration with the National Center for Wildlife, highlights the abundance of wildlife and natural resources in the Kingdom.The documentary is currently being shown on the...

"First of all, they are not proportional. All of these constitute disproportionate use of force," Erdogan told journalists after Friday prayers in Istanbul. Oman, a mediator in attempts to end Yemen's long-running civil war, expressed its "worry" at the strikes on Houthi rebel military targets that, according to the Houthis,...

NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within the mountains, and the latest addition to the ongoing regional development in the Kingdom.With its foundations steeped in cutting-edge technology, avant-garde architecture and forward-thinking concepts, Aquellum will offer guests a...

RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia.One of the aims of these MoUs is to foster international cooperation in minerals between Saudi Arabia and these countries.According to the...

Oman emerges top performer in the GCC region.

Abu Dhabi, UAE - The UAE passport has climbed two positions to secure the 11th spot in the 2024 Passport Index by Henley & Partners. This advancement allows UAE citizens visa-free access to 183 countries. The UAE has been the most improved nation on the Index over the past decade,...

Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion, propelled by strong performances in the UAE and Saudi Arabia.The UAE led the charge, adding $117.5 billion to its market value, reaching $990.6 billion by the end of last year....

Berlin has loosened its stance on weapons exports to the kingdom recently, with the government praising Saudi Arabia's "constructive approach" in the Israel-Hamas war. Saudi Arabia had not renounced plans to normalize relations with Israel since the beginning of its war with Hamas, Foreign Minister Annalena Baerbock noted Sunday.

Riyadh, Saudi Arabia -- Saudi Arabia Wednesday announced preferred bidders in the fourth series of the licensing rounds conducted as part of the Accelerated Exploration Program designed to leverage the Kingdom's mineral resources in support of the development and growth of the mining sector.The development and growth of the sector...

Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an unsustainable fiscal path.

These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate, obtain work permits for themselves and family members and access exclusive perks and services provided by the Premium Residency Center in collaboration with government partners.