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.

Riyadh, Saudi Arabia -- More than 70,000 transactions worth SAR 56 billion ($14.92 billion) have been conducted on Saudi Arabia's Real Estate Market since its launch about two months ago.The traded real estate areas amounted to about 550 million square meters (sqm), Argaam reported. Real Estate Market provides its services...

The upcoming summit is being organised by the Organisation of Islamic Cooperation (OIC), a 57-member bloc of majority Muslim countries. It will be Raisi's first visit to the kingdom since the two countries agreed to restore diplomatic relations after seven years of estrangement, a deal brokered by China in March.

Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle.After a tough year for traders, the bank's decision last week to pause on monetary policy...

RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9 billion) in September, according to recent data released by the Saudi Central Bank (SAMA).On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million (SAR...

RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing a "Visiting Investor" business visit e-visa.This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030, which aims to attract...

Taking to X, formerly Twitter, King Abdullah said that Jordan's air force personnel air-dropped at midnight urgent medical aid to Jordanian's field hospital in Gaza. Terming it as "our duty to aid our brothers and sisters injured in the war on Gaza", he said the kingdom will always be there...

AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business Forum on November 22-23.Held under the theme "Business - Investment - Partnership," the event is organized by the Federation of Gulf Cooperation Council (FGCC) chambers in cooperation with FEDCOC, with...

AlUla, Saudi Arabia -- The Royal Commission for AlUla (RCU) has announced that the archeological excavation teams at the Qurh site in AlUla Governorate have found a hand axe dating back to the Paleolithic Age, estimated to be more than 200,000 years old.It is a strong tool, made of soft...

AMMAN, JORDAN  – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and representatives from the Palestinian Authority – met here to discuss strategies for ending the ongoing conflict in Gaza.The meeting, held on Saturday, was aimed at coordinating efforts to halt the...

Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day, which went into implementation in July 2023 and was later extended until the end of December 2023. The Kingdom’s production in the month of December 2023 will be approximately 9...

RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September, at a total value of US$1.4 billion (SAR 5.3 billion). A total of 82 factories started actual production in September, with total investments of US$506 million (SAR 1.9 billion), the ministry...

The company's revenues increased by 9 percent during this period.

The aim is to advance digitalization in Saudi Arabia.

The company said higher operating income was the main driver.

The company had posted a net profit of $4.32bn in 9M 2022.

Despite summer temperatures touching 50 degrees Celsius (122 Fahrenheit) in the major cities, Saudi Arabian Football Federation president Yasser al-Misehal did not rule out playing the tournament in the hottest months. "Of course, we are ready for all possibilities," Misehal said late on Tuesday at the Asian Football Confederation awards...

Riyadh, Saudi Arabia -- A total of 138 agreements, MoUs and deals worth more than SAR 13.3 billion ($3.54 billion) were signed during the three-day Global Health Exhibition organized by Saudi Arabia's Ministry of Health.Held under the theme 'Invest in Health' and visited by 111,000 local and international visitors, more...

Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39 billion) by the end of Q2 2023, Argaam reported, citing Saudi Central Bank (SAMA) data.The foreign investment balance recorded an increase of 5 percent quarter-on-quarter, or nearly SAR 109.9 billion.Foreign...

European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the top with a market value of US$1.34 billion.

Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.

The third quarter net profit fell 23% compared to the Q3 2022.

Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of 2023, compared to the third quarter of 2022, flash estimates by the General Authority for Statistics (GASTAT) said.GASTAT attributed the fall to a decrease in oil activities by 17.3 percent,...