AJEX will have rights to operate warehousing facilities at Modon.

Officials will include the foreign ministers of the Palestinian Authority in the West Bank, Saudi Arabia, Jordan, Egypt and Indonesia, as well as the secretary-general of the Organisation of Islamic Cooperation. "During the visit, China will have in-depth communication and coordination with the joint delegation of foreign ministers of Arab...

Announced in February 2021, Saudi Arabia's regional headquarters (RHQ) program is widely seen as a bid to compete with Dubai in the neighboring United Arab Emirates, a favorite base for global firms with business in the Middle East. Despite complaints from some executives that there remains a lack of clarity...

The Argentine replaces Nuno Espirito Santo who took Al Ittihad to the Saudi title last season. The Portuguese former Tottenham and Wolves manager was fired earlier in November following a run of bad results and amid reports of a difficult relationship with star striker Karim Benzema, who joined the club...

The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.

A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust non-hydrocarbon activity.

RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk issue from US$26 million (SAR 100 million) to US$133 million (SAR 500 million).  The move aims to boost the company's capital expansions and working capital, the company said in a...

Despite the difficulties, some 4.1 million people have received humanitarian aid in the last seven months -- but that amounts to just 22 percent of the people whom humanitarian organizations aim to assist this year. Sudan's warring parties resumed negotiations late last month in Jeddah, brokered by Saudi Arabia and...

Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the MENA region, says a new report.

Riyadh, Saudi Arabia - Global credit agency Fitch Ratings has reaffirmed Saudi Arabia’s Public Investment Fund's (PIF) long-term foreign- and local-currency issuer default ratings at "A+" with a stable outlook. In its assessment, Fitch highlighted the PIF’s robust financial autonomy and its critical role in bolstering Saudi Arabia’s non-oil gross...

RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the countries in accordance with a clear policy to build positive relationships based on respect, cooperation and common interests.The Kingdom's interest in establishing relations with the Caribbean Community (CARICOM) stemmed from...

Dubai, UAE - Mukta A2 Multiplex WLL, the international subsidiary of Mukta Arts, one of India's leading film production houses, has signed an agreement with Al-Othaim Investment Company to operate cinemas across Saudi Arabia, Indian publication The Hindu Business Line reported on Thursday. The move expands the company's footprint in...

"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai International) is at the absolute maximum with everything optimized, we are going to need a new airport," Dubai Airports CEO Paul Griffiths said.

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at Jeddah Islamic Port, with a total area exceeding 130,000 square meters and an investment value nearing US$132 million (SAR 487 million).President of Mawani Omar Hariri said, “The new logistics park...

Riyadh, Saudi Arabia -- Saudi Arabia's consumer price index experienced a slight decrease in October, dropping to 1.6 percent from 1.7 percent in September, according to the latest official data.The General Authority for Statistics (GASTAT) reported that this decrease in inflation was primarily due to a 0.8 percent reduction in...

Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule. The development supports Aramco’s strategy to increase gas production by more than half over 2021 levels,...

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The agreements signed with SPPC are valued at $3.9 billion.

The parties to the conflict pledged last week at talks in Saudi Arabia to improve humanitarian access, tasking the UN with setting up the forum to facilitate the implementation of these commitments. But Griffiths said most basic services in the country have come to an "almost complete standstill," making efforts...

It will acquire 84 percent stake for US$12.3 million.

The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.

Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to infuse capital into Alkhorayef Petroleum, a subsidiary of Alkhorayef Group. Through this agreement, PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef...

Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived as a sustainable path for a secure food supply.

Riyadh, Saudi Arabia -- The Saudi Power Procurement Company (SPPC) has released request for qualification (RFQ) for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy.The combined capacity of Round 5 projects is approximately 3700 MW....

PIF, SEC JV's brand name for EV infrastructure is EVIQ.

"The use of generative artificial intelligence (AI) extends beyond urban design and development. It involves creating smart cities tailored to the needs of their residents, promoting sustainable and inclusive living environments," he adds, highlighting the crucial role of generative AI in city services and urban solutions.

Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on the sidelines of the Saudi-African summit in order to enhance business ties with them.The Saudi-Chadian roundtable meeting was held yesterday, in the presence of the President of the Republic of...

Arab and Muslim leaders condemned Israeli forces' "barbaric" actions in Gaza but declined to approve punitive economic and political steps against the country over its war against Hamas. The joint summit in the Saudi capital of the Arab League and the Organization of Islamic Cooperation highlighted regional divisions over how...

Riyadh, Saudi Arabia - Saudi Foreign Ministry said on Saturday that the Kingdom will hold a joint Arab Islamic extraordinary summit here instead of two summits.“In response to the unprecedented circumstances in Gaza, and after consultation of the Kingdom of Saudi Arabia with the League of the Arab States and...

PARIS, FRANCE -  A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the Royal Commission for Riyadh City, responsible for the Kingdom's bid to host the World Expo in 2030.The event took place in Meudon on Monday in the presence of representatives from...

Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development have signed a protocol of health and technical requirements for imports of cattle, sheep, and goat meat.The protocol aims to accredit the regulatory body in South Africa by the SFDA...

Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and financial institutions on the sidelines of the Saudi-Arab-African Economic Conference recently held in Riyadh.Saad Al-Khalb, the CEO of the Saudi EXIM Bank, signed Line of Credit agreements worth $185 million...

"We have begun discussions with 80 countries participating in the mining sector. ... An international platform has been established in Riyadh to support the development of the mining sector in the region, ensuring investment flow and aiding African and Central Asian countries in bringing more minerals to the market," he...

The Summit held in Riyadh emphasizes resolving the Palestinian-Israeli conflict, urging international pressure on Israel for peace and addressing Gaza's humanitarian crisis.

NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League (IPL) may have kicked up a storm in the media, but the top brass of the Board of Control for Cricket in India claim they are yet to hear anything...

RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter of 2023, a decline of 19 percent from US$52.2 billion (SAR 194.75 billion) in the year-ago period.This was also due to the decline of Aramco’s Q3 profit by more than...

Riyadh, Saudi Arabia -- Al Moammar Information Systems Co. (MIS) recorded a net profit of SAR 26.7 million ($7.1 million) in the first nine months of 2023, down from SAR 46.5 million ($12.39 million) in the prior-year period.The lower profit was attributed to an increase in impairment loss on contract assets and...

Riyadh, Saudi Arabia - Saudi Arabia said on Thursday that policies to address climate change should not "crush the bones" of countries grappling with energy poverty, ahead of the COP28 climate talks in Dubai.Speaking at a conference on economic cooperation with Africa, the Gulf kingdom's energy minister Prince Abdulaziz bin Salman...

The emergency meetings of the Arab League and the Organization of Islamic Cooperation come after over one month of Israeli bombardment has killed more than 10,000 people in Gaza, many of them children, according to the Hamas-run health ministry. With Israel's leaders rebuffing talk of a ceasefire until the captives...

RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in September 2023, extending its downtrend to the fifth successive month. Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI fell to 122.99 points in September, according to...

The firm said unfavorable market conditions affected margins.

Tower infrastructure sale among factors responsible for the performance.

Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8 billion figure that had been published previously.According to SPA, the updated figure is a result of a new framework methodology for publishing FDI data in the kingdom which was adopted...

Nuno was under pressure because of their struggles in the Saudi Pro League, and the club brought down the axe following a 2-0 defeat to Air Force Club of Iraq in the Asian Champions League on Monday. The former Porto coach took Al Ittihad to the Saudi title last season,...

The company attributes the growth to surge in demand.

Riyadh, Saudi Arabia - In a step towards bolstering Saudi Arabia's renewable energy initiatives, the Saudi Power Procurement Company (SPPC) has announced the signing of Power Purchase Agreements (PPAs) for two solar projects. These projects are part of Round 4 of the National Renewable Energy Program (NREP), which aligns with...

Taif, Saudi Arabia -- Several investment contracts for projects in Taif Governorate, worth over SAR11 billion ($2.93 billion), have been signed at Taif Investment Forum by Saudi companies and Chinese and Korean counterparts.The contracts stipulate, among others, the establishment of the first phase of the space science fiction city Mars...

Riyadh, Saudi Arabia - Saudi Arabia has revealed plans for a remarkable megacity project named Marafy, following in the footsteps of its visionary project, Neom. Marafy is set to become a vibrant urban center located to the north of Jeddah, offering a stunning waterfront reminiscent of London's iconic landscape. This...

The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.