The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of the Arabian Shield region, said the Minister of Industry and Mineral Resources, Bandar Alkhorayef. There are more resources to be explored and with more exploration investments, Saudi Arabia can reach the maximum capacity...

RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two agreements with Emaar, The Economic City (EEC) which is the main developer of King Abdullah Economic City (KAEC).The agreement was signed in the presence of Saudi Arabia Minister of Energy...

The US secretary of state -- on his fourth Middle East tour since the war broke out -- was back in Israel on Tuesday to meet Prime Minister Benjamin Netanyahu and members of his war cabinet, including opposition figure Benny Gantz. He also voiced hope that, after the war, Israel...

Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight percent dive in Boeing shares after an emergency landing on an Alaska Airlines aircraft revived safety worries. "We basically are having a little bit of a bargain hunting today," economist...

Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount of Venture Capital (VC) funding in 2023, according to MAGNiTT, the MENA-based venture data platform. The Kingdom captured the highest share of total VC funding in the year, accounting for...

RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus signed on Monday a memorandum of understanding to boost investment and trade between the two countries.The memo was signed at the federation's headquarters by...

On his fourth regional trip since the war began, US Secretary of State Antony Blinken arrived in Saudi Arabia after talks in Abu Dhabi. Blinken "emphasized the importance of preventing further spread of the conflict", during talks with United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan, a US...

"We do not see ourselves, as the German federal government, opposing British considerations on other Eurofighter (sales)," Baerbock told journalists on a trip to Israel, in which she highlighted the Saudi role in the Middle East security crisis since the eruption of the Israel-Hamas war on October 7.

Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies listed on the Saudi Exchange by total market capitalization. The index is calculated in real time and tracks the stocks of the largest companies in the market.The companies have a...

The firm will offer 6 million shares in its Initial Public Offering.

Madinah, Saudi Arabia -- The number of existing electronic-commerce records in Madinah reached 1,834 during the 4th quarter of 2023, registering a slight increase of 2.6 percent from the 1,792 records for the third quarter, according to official figures.According to the business sector bulletin for the 4th quarter of 2023,...

Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December 2023, a report by the National Center for Vegetation Cover Development and Combating Desertification has revealed, cited by Saudi Gazette. The vegetational growth is attributed to robust rainy conditions during...

RIYADH, SAUDI ARABIA  - The National Center for Wildlife, in collaboration with NEOM, has released a total of 132 animals into the NEOM Nature Reserve.This initiative aims to rehabilitate and ensure the adaptation of these animals to their new environment before releasing them into the wild.The released species consist of...

NEW YORK, US - Former US president Donald Trump's businesses received at least $7.8 million from foreign governments including China during his time in the White House, a congressional report claimed.Officials from Saudi Arabia, India, Turkey and Democratic Republic of Congo were among some 20 countries' representatives who paid money to...

The sovereign wealth fund acquired 23% stake in the firm.

Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end, a report by the Saudi Council of Health Insurance revealed. The target is to reach 25 million beneficiaries by 2030, aiming for health insurance to...

Saudi Arabia and Qatar condemned comments by two Israeli ministers calling for Palestinians to emigrate from the Gaza Strip. Israel's National Security Minister Itamar Ben-Gvir on Monday called for promoting "a solution to encourage the emigration of Gaza's residents" and the re-establishment of Israeli settlements in the Gaza Strip.

Sheikh Meshal al-Ahmed Al-Sabah, who was sworn in as emir last month, named Sheikh Mohammed Sabah al-Salem Al-Sabah, a popular ex-foreign minister, as the new premier. He replaces Sheikh Ahmed Nawaf al-Ahmed al-Sabah, son of the late emir whose death has raised hopes of a political shift in the country.

The agreement was extended by an additional $1.54 billion.

Riyadh, Saudi Arabia -- ROSHN Group has been recently recognized as "The Best Place to Work in Saudi Arabia" for 2023 by the globally recognized employer of choice certification program Best Places to Work, the company said in a press release.ROSHN achieved its ranking based on anonymous surveys conducted by...

Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment of US$3.46 billion during 2023, contributing to the kingdom's growth in international indicators and solidifying its position as a global logistics center. In order to enhance the attractiveness of Saudi...

Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and guidelines, Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih said during the inauguration of the Leadership Forum for the Transformation to Accrual Accounting in Riyadh....

RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12 million visitors.Chairman of the Board of Directors of the General Entertainment Authority (GEA) Turki bin Abdulmohsen Al Al-Sheikh said in a tweet that the success of the event is due...

RIYADH, SAUDI ARABIA – flynas reported record results for its performance in 2023 compared to the previous year 2022, with a historic increase in the number of passengers to over 11.1 million passengers, growing more than 28 percent.The LCC has taken delivery of 19 new aircraft during 2023, upscaling fleet...

Riyadh, Saudi Arabia --Consumer spending in Saudi Arabia grew by 8 percent to SAR 111.5 billion ($29.73 billion) in November 2023 from nearly SAR 103.3 billion during the same month a year earlier, according to the Saudi Central Bank's (SAMA) monthly bulletin.Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions,...

The projects in 6 industrial cities are valued at $143 million.

Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first phase of the Skill Verification Program (SVP) in Egypt. The collaborative effort with the Egyptian Ministry of Manpower aims to improve the proficiency of professional labor and raise the standard...

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’...