SSG includes a number of high-powered sports owners including the Fenway Sports Group, owners of English Premier League club Liverpool, MLB's Boston Red Sox and the NHL's Pittsburgh Penguins. The deal would see players collectively access more than $1.5 billion in grants that vest over time with SSG investing an initial...

Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a future global travel leader.

Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and the outlook for the global economy in a meeting with President of the European Central Bank (ECB) Christine Lagarde at SAMA’s headquarters in Riyadh on Thursday. Several events were organized...

Riyadh, Saudi Arabia - The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia's economy, revealing a more optimistic outlook. The latest forecast anticipates a 5.5% growth rate for the Kingdom in 2025, representing an increase from the initial projection of 4.5% made in October 2023. The...

Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on procedures, requirements, targeted markets, and available opportunities for exporting products globally. General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched a series...

Otavio drilled in the opener as Miami lost the ball trying to play out from the back, bringing Ronaldo to his feet to applaud from the stands. A sliding Talisca turned in Al Nassr's second as the visitors again paid the price for conceding possession near their own box.

Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Thursday launched a new company called Alat geared to make Saudi Arabia a global hub for electronics and advanced industries. The new company aims to create 39,000 direct jobs and achieve a direct non-oil GDP contribution of $9.3 billion...

Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and liquid status. S&P Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. The ratings agency anticipates overall stability in key metrics for GCC banks in 2024. Credit...

Riyadh, Saudi Arabia -- Saudi Arabia remains undecided on accepting the BRICS bloc's invitation to join, despite initial claims of its accession. South Africa's Foreign Minister Naledi Pandor's recently asserted the kingdom's membership, but a Saudi official told Reuters that the Kingdom has not yet responded to the invitation to...

In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more than five million barrels per day (bpd) since the end of 2022. Oil prices were up slightly on Thursday and hovering around $80 per barrel.

Riyadh, Saudi Arabia -- Foreign Direct Investment inflows into Saudi Arabia hit SAR 17 billion in the third quarter of 2023, a decrease of 14.4 percent compared to the second quarter, the Kingdom's General Authority for Statistics (GASTAT) said. The total FDI outflows reached SAR 5 billion, a decrease of...

Riyadh, Saudi Arabia — Average life expectancy in Saudi Arabia reached 77.6 years compared to 74 years in 2016, the Health Sector Transformation Program (HSTP), a component of the Vision 2030 initiative, has revealed. The program attributes the remarkable progress to a series of strategic efforts, notably the incorporation of...

Riyadh, Saudi Arabia - The World Health Organization (WHO) has recognized the Saudi Food and Drug Authority (SFDA) for its efforts in ensuring that food products in Saudi Arabia are free from industrially produced trans-fatty acids (ITFA) or artificial trans fats. This places Saudi Arabia among the top five countries...

Crown Prince Mohammed bin Salman, the 38-year-old de facto ruler of Saudi Arabia, greeted Sheikh Meshal at the airport in Riyadh as trumpets played, 21 rounds were fired and the Saudi Falcons, the air force's aerobatics team, put on an air show, the official Saudi Press Agency reported.

The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.

"These are all campaigns into which I have poured my heart and soul. True empowerment, the kind I want for my daughter, involves the opportunity and tools to make your own choices," adds Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America.

Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply cuts dating back to October 2022, Saudi Arabia's daily output stands at approximately nine million bpd, far below its capacity of 12 million bpd.

Washington D.C., US--– Saudi Arabia's ambassador to the US, Reema Bandar Al-Saud, has expressed disappointment with recent media criticism of the kingdom's hosting of the Women's Tennis Association Finals and broader issues concerning women's rights in Saudi Arabia. In response to an opinion piece published by The Washington Post, she...

Riyadh, Saudi Arabia - Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical role in the national economy, who, according to the kingdom's Minister of Human Resources and Social Development, Eng. Ahmed Al-Rajhi, constitute 44% of the population and 78% of the workforce...

GFP secures nearly $60 million in equity financing to expand its network.

Nearly half of the newly elected board members were women, a first in the 21-year history of this prominent media professionals' body. This milestone coincided with the election of Faisal J. Abbas, a visionary in the field, as Deputy Chairman of the Saudi Journalists Association. This election is a step...

Riyadh, Saudi Arabia - The CEO of the Royal Commission for AlUla, Eng. Amr Al-Madani, has been arrested on charges of misusing authority and money laundering involving SR206 million ($55 milion). The Oversight and Anti-Corruption Authority (Nazaha) reported the arrest, stating that Al-Madani's partners in a company were also apprehended....

The aim is to develop technologies for clean energy.

Riyadh, Saudi Arabia -- Saudi Arabia's national tourism brand, "Saudi Welcome To Arabia," has launched a new global marketing campaign featuring football legend Lionel Messi. The campaign, called "Go Beyond What You Think," aims to address misconceptions about Saudi Arabia and encourage people to experience the country's cultural transformation. The...

Riyadh, Saudi Arabia - Red Sea Global, a company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia, has unveiled a state-of-the-art robot designed specifically for beach cleanup in Red Sea and Amaala destinations.  The electric-powered robot is engineered to enhance the visual appeal of the sandy shores...

Riyadh, Saudi Arabia - Saudi Arabia Railways (SAR) and the Italian Arsenale Group have officially inked an agreement to introduce the "Dream of the Desert" luxury train service in Saudi Arabia. The momentous deal was signed by Dr Bashar Al-Malik, CEO of SAR, and Paolo Barletta, CEO of the board...

RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU) between Al Jouf Agricultural Development Company (JADCO) and E Green Global (EGG) of the Republic of Korea. The agreement involves the transfer and localization of potato seed production techniques in...

Riyadh, Saudi Arabia - Patricia Scotland, the Secretary-General of the Commonwealth of Nations, has named Saudi Professor Manahel Thabet as the special envoy for science and technology. The appointment highlights Thabet's notable expertise and significant contributions to the fields of science and technology. The Commonwealth, an organization comprising 56 nations...

The knockout phase begins on Sunday when Australia play Indonesia, followed the same day by the United Arab Emirates against tournament debutants Tajikistan. At 146 in the world, Indonesia are the lowest-ranked team left in the tournament and squeezed through with one win and two defeats from their three group...

Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million visitors already attending the various activities, according to Turki Al-Sheikh, the chairman of the board of directors of the Saudi General Entertainment Authority (GEA). The accomplishment was announced on Wednesday,...

GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.

The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.

NEOM, SAUDI ARABIA - NEOM's Board of Directors has announced the launch of Zardun - an exclusive resort and natural reserve that will contribute to the restoration and revitalization of the surrounding environment. This will help in supporting NEOM's efforts to develop luxury ecotourism in the Kingdom. Zardun is NEOM's...

Riyadh, Saudi Arabia -- Deals worth more than $26 billion were signed at the Real Estate Future Forum 2024, which ended Wednesday. Over 50 agreements and memoranda of understanding (MoUs) were signed during the event that focused on discussing new innovations, key challenges, emerging trends, and sustainable financing solutions in...

Doha, Qatar - Roberto Mancini said on Wednesday that Saudi Arabia fear no team at the Asian Cup and will not try to duck out of a potential last-16 clash with South Korea. The Saudis have already qualified for the knockout rounds after two wins in Qatar and will top Group...

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...

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...

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...

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...

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,...

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....

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...

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...

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,...