The company launched the first zero-emission 5G network.

Riyadh, Saudi Arabia - The Saudi Space Agency (SSA) signed a memorandum of understanding (MoU) with Sierra Space, a leading US company in the field of space technologies, to exchange knowledge, skills and experiences and develop national capabilities and competencies in fields related to the space sector. The memorandum was...

Riyadh, Saudi Arabia -- Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project in Uzbekistan, with a production capacity of 3,000 tons per year.In a statement, the company added that the project will be developed in two phases. The first phase, a 3,000...

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024.In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that Astra...

Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the PwC's latest Middle East Pulse report, a segment of its comprehensive Global Consumer Insights Survey.Emergence of Informed BuyersThe survey underscores a notable shift in consumer behavior as Saudi shoppers explore...

In the heart of the GCC, a transformative shift towards 'Green Mobility' is underway, driven by a commitment to environmental sustainability and reducing carbon footprints.

Vienna, Austria - Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday.Brazil is among the world's top 10 producers and has been the largest oil producer in Latin America since 2016.Its crude production hit a record 3.7 million barrels per day in September, a near...

RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned by Kaspersky has found.The data shows that 71 percent of companies in Saudi Arabia suffered at least one cyber incident over the last two years.One of the main reasons cited...

Saudi Arabia will extend its voluntary cut of 1 million barrels per day. The latest Saudi cut is in addition to the voluntary cut of 500,000 barrels a day previously announced by the Kingdom in April 2023, which extends until the end of December 2024.

NEOM, Saudi Arabia – NEOM, a futuristic city planned by Saudi Arabia in its northwestern Tabuk Province, has unveiled Siranna, an exclusive tourism escape. Situated on the Gulf of Aqaba coastline, this ultra-luxurious destination will be home to a 65-key hotel, as well as 35 exclusive residences.The destination offers uninterrupted...

Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026.

The firms will explore starting eVTOL services in Saudi Arabia.

Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub leaves Qatar as its biggest shareholder. Ferrovial said it was offloading its 25 percent stake for nearly US$3 billion, with the other 15 percent going to...

World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with hiking rates and could cut borrowing costs next year as inflation cools. While Wall Street's main indices spent some time in the red, they moved higher as the yields on US...

Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.

The date of 2030 is hugely symbolic for Saudi, coinciding with the key milestone in the Vision 2030 programme of MBS to diversify Saudi Arabia economically and culturally. The Riyadh Expo is set to take place from October 2030 to March 2031 on the theme "The Era of Change: Together...

The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.

ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features and variety of terrain that makes it ideal for tourism.Situated at an altitude of 2,983 meters and having steep slopes, the basin, with a dense vegetation cover, is terraced and...

SNB Capital's Single Stock Options debut marks a leap forward, enhancing liquidity and expanding investor choices.

The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of a financing agreement through which PIF has raised a term loan from a syndicate of nine top international lenders that will be covered by K-SURE. The financing carries a door-to-door...

Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII) growth (+3.8 percent QoQ) but was undermined by a marginal decline in non-core income (-0.5 percent QoQ), reveals global professional services firm Alvarez & Marsal (A&M) has released its latest...

Tel Aviv, Israel - Israel has reportedly withdrawn its support for Saudi Arabia’s bid to host the Expo 2030. The decision, reported by the Kan public broadcaster, comes in the wake of mounting tensions between Jerusalem and Riyadh over the Gaza conflict.Israel had previously signaled its backing for Saudi Arabia...

RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as chairman of the board of directors.The bank said in a regulatory filing on the Tadawul that it also named Ibrahim bin Mohammed Al Romaih as vice chairman.Al Rajhi Bank is...

Jeddah, Saudi Arabia -- Football stars David Villa and Paolo Maldini visited Jeddah today to promote the 2023 FIFA Club World Cup, which will be hosted in the city from December 12 to 22.The two stars met with football fans at the FIFA Club World Cup Saudi Arabia official pre-tournament...

Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the largest, international promotional campaign in China, which resulted in a 277-percent surge in bookings. Running from November 17 to 23, 2023, the campaign unfolded as a grand spectacle, reaching millions...

The firms will build primary and secondary infrastructure works.

Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation, sustainability, and global unity.

Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.

RIYADH, SAUDI ARABIA  - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor, which showed a 3.5 percent growth in the number of SMEs in the Kingdom in Q3 2023, bringing their total number to 1.27 million.With over 40,000 new businesses created across...

Riyadh, Saudi Arabia -- An overwhelming 80 percent of consumers across 16 diverse nations now identify climate change as the foremost global challenge, according to a study conducted by GSMA Intelligence in collaboration with Huawei. The participating countries, including Saudi Arabia, Turkey, Egypt, South Africa, Argentina, Brazil, France, Germany, Indonesia,...

Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1 challenge, a recent research conducted by GSMA Intelligence with support from Huawei, revealed. The countries include Saudi Arabia, Turkey, Egypt, South Africa, Argentina, Brazil, France, Germany, Indonesia, Italy, Japan, Pakistan,...

RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget deficit, media reported.The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China, Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc, according to...

RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here.This reflects their confidence in the Egyptian market, he said.In a speech at the...

Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter of the FIFA Club World Cup Saudi Arabia 2023. This prestigious tournament will be hosted in Jeddah from December 12 to 22, 2023, marking the first time it will be...

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at enhancing trade and investment.The agreements covered trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts.The agreements were signed on Thursday by the Federation of Saudi...

Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly leading to the 17.1 percent fall in overall merchandise exports to SAR 103.8 billion, from SAR 125.3 billion in September 2022.  The share of oil exports in total exports increased from...

Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would be put back by four days to November 30. Reports said the decision was made after Angola and Nigeria pushed back at lower targets urged on them, with Saudi Arabia...

exposed the double standards and selective application of international laws and UN resolutions by the global community. Representing Saudi Crown Prince Mohammed bin Salman, Saudi finance minister Mohammed Al-Jadaan said that the Israeli invasion of the besieged Gaza was in flagrant violation of international laws and it had led to...

Experts say Saudi Arabia's successful bid to host 2034 World Cup might not have been possible if there had not been already a successful world cup in 2022.

Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in the next 12 months, according to Mastercard’s Borderless Payments Report 2023.Globally, the report highlights two in five (40 percent) senders, and half of receivers, intend to use cross-border payments more...

Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of the UAE by the year 2023, with expectations of further increase to 3.7% in 2024.According to the recently published World Bank Gulf Economic Update (GEU) report, the Bank anticipated the...

MOSCOW, RUSSIA – The foreign ministers of Saudi Arabia, Jordan, Egypt, Indonesia, Palestine and the Secretary General of the Organization of Islamic Cooperation (OIC) have arrived here to discuss the Gaza Strip with Russian Foreign Minister Sergey Lavrov, a diplomatic source told TASS."They have arrived, the meeting will start soon,"...

The conglomerate intends to sell 33.25 million shares.

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank of China. The maximum value of the swap is 50 billion Chinese yuan ($7.02 billion). The agreement is part of the financial cooperation between the two central banks, which works...

Johannesburg, South Africa--South Africa will Tuesday host a virtual summit of the BRICS group of nations, including Russian President Vladimir Putin, to discuss the Israel-Hamas war, Pretoria and Moscow said Monday.The BRICS --  Brazil, Russia, India, China and South Africa -- are a group of major emerging economies seeking to reshape...

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW.The second phase is part of a 950 MW solar CSP independent power...

RIYADH, SAUDI ARABIA - The National Center for Wildlife, in cooperation with the Prince Mohammed bin Salman Royal Reserve released 85 endangered animals, the first batch in the 2023-2024 season.The release is part of the center's program with increasing and relocating endangered wild animals, restructuring ecosystems, and enriching the biodiversity...

Obeikan AGC Glass will have an export credit insurance policy.

Following the outbreak of the war last month, Chinese officials, including Foreign Minister Wang, called for an immediate ceasefire and a "cooling down" of the situation. China has historically been sympathetic to the Palestinians and supportive of a two-state solution to the Israeli-Palestinian conflict.