• 92% of respondents in Saudi Arabia willing to pay more for sustainable broadband

    Riyadh, Saudi Arabia - About 92% of respondents in Saudi Arabia consider ‘critical national infrastructure’ and are willing to pay more for sustainable broadband with roughly a quarter of them prepared to pay over 20% more for eco-friendly connectivity., a Cisco survey in the kingdom has found.  The survey, encompassing...
  • Airports Council International sets up first office in Riyadh

    Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in Riyadh. Saudi Minister of Transport and Logistics Services and Chairman of the Board of Directors of the General Authority of Civil Aviation (GACA), Saleh Al-Jasser, inaugurated the office yesterday. Al-Jasser...
  • $15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA

    RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued compensations totaling US$15 million (SAR58 million) to passengers in the period 2021-2022. These compensations, according to GACA, were given primarily to deal with issues such as delays, loss of luggage,...
  • Middle East embraces Mandarin learning in geopolitical shift

    Riyadh, Saudi Arabia - Middle Eastern countries are increasingly embracing the Mandarin language, extending China's soft power influence in the region. While interest in learning Mandarin has declined in the West, Middle Eastern nations are mandating Chinese language education in their schools, , a report in South China Morning Post...
  • UNESCO adds 15 new sites to world heritage list during Riyadh session

    Riyadh, Saudi Arabia - The UNESCO World Heritage Committee, during its 45th session held in Riyadh, unveiled fifteen new additions to its World Heritage List, drawing attention from both historical enthusiasts and geopolitical spectators alike. "Tell es-Sultan-Jericho", a prehistoric site near the Palestinian city of Jericho, was inscribed, a move...
  • Realty sector’s success hinges on GDP growth

    The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.
  • Saudi Arabia participates in global meet to bridge digital divide

    RIYADH, SAUDI ARABIA – The Kingdom’s Governor of the Communications, Space and Technology Commission (CST) Dr. Mohammed Saud Al-Tamimi participated in the Broadband Commission for Sustainable Development annual meeting in New York. The meeting was held on the sidelines of the 78th session of the United Nations General Assembly. The...
  • Palestine’s pre-historic Tell al-Sultan site on world heritage list, says UNESCO

    The United Nations' cultural organization inscribed the "pre-historic site of Tell al-Sultan" located near the occupied West Bank city of Jericho on its World Heritage List, UNESCO said. The decision, which was posted by the organization on X, formerly Twitter, was taken at UNESCO's 45th world heritage committee meeting held...
  • Water-starved Saudi Arabia confronts desalination’s heavy toll

    The Jazlah plant in Jubail city applies the latest technological advances in a country that first turned to desalination more than a century ago. Projects like Jazlah, the first plant to integrate desalination with solar power on a large scale, are meant to ease the conflict: officials say the panels...
  • S&P confirms Saudi Arabia’s credit rating at A/A-1 amid reforms

    Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1” with a stable outlook. The confirmation comes in view of Saudi Arabia’s ongoing efforts to implement significant reforms and achieve structural improvements in recent years, which have supported the sustainable...
  • Gulf banks show resilient growth despite US Fed hikes

    Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported record profits in the first half of 2023, says a report.
  • Saudi ministry inks economic pact with Alfaisal University

    RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic development and implement awareness programs, in line with Saudi Vision 2030 goals. Under the MoU, the two parties will cooperate to promote economic development, activate academic research, implement awareness programs...
  • Saudi-China Entrepreneurs Association and HKTDC sign MoU

    Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC). The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit," which saw participation from...
  • Aramco expands into South American retail market with Esmax buyout

    Riyadh, Saudi Arabia -  Aramco, one of the world’s leading integrated energy and chemicals companies, has announced its agreement to acquire a 100% equity stake in Esmax Distribusción from Southern Cross Group,  a Latin America-focused private equity company.  The acquisition marks Aramco's entry into the South American retail market.  Esmax...
  • Blinken likely to visit Saudi, Israel, West Bank in October to discuss normalization

    Tel Aviv, Israel - US Secretary of State Antony Blinken is considering a trip to the Middle East in October as part of Washington's ongoing efforts to broker a normalization agreement between Israel and Saudi Arabia, according to a report published in The Times of Israel.  The proposed visit would...
  • Saudi business delegation visits ZSBVC steel factory in Vietnam

    HANOI, VIETNAM  - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and centers visited Zamil Steel Building Vietnam Co. (ZSBVC) here. The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam. During the visit,...
  • Lumi IPO 11.5 times oversubscribed

    The daylong retail offering saw 124,900 investors subscribe.
  • Saudi hosts Yemen’s Iran-backed rebels for talks on ending war

    Houthis headed for Riyadh on an Omani plane, days after Saudi de facto ruler Crown Prince Mohammed bin Salman met Oman's sultan on his way back from the G20 summit in India. Oman has played a role as mediators in the conflict. "Optimism exists regarding the mediation and the Omani...
  • Nearly two-thirds of Saudi Arabian employees lack enhanced digital skills 

    Riyadh, Saudi Arabia - A substantial 62% of employees in Saudi Arabia are eager to acquire improved digital skills in their daily work with computers and other digital devices, a survey conducted by Kaspersky, a cybersecurity company, has revealed.  The findings also exposed a troubling trend, with 45% of respondents...
  • Saudi Arabia leads as MENA region sees gaming boom

    The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030.
  • Deals with India add pace to Saudi diversification

    Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe.
  • RSG gets Mostadam Diamond Certification

    The accolade recognizes RSG's commitment to sustainability.
  • Relations with Iran will be strong, says Saudi envoy

    TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries will be strong in all areas, including trade, economy and investment. Speaking to IRNA in Tehran, the Saudi envoy expressed satisfaction with the start of a new chapter in his...
  • Gulf banks to maintain resilience despite challenges, says S&P Global

    According to the credit rating agency, a combination of higher interest rates and production cuts by the OPEC is expected to restrain near-term growth prospects for major GCC economies. However, non-oil growth is anticipated to bolster the region's economies, particularly in Saudi Arabia and the UAE.
  • India-Middle East-Europe Corridor will change face of Middle East: Netanyahu

    Tel Aviv, Israel - Israel's Prime Minister Benjamin Netanyahu has welcomed the launch of the ambitious India-Middle East-Europe Economic Corridor (IMEC) as the "largest cooperation project in our history" that will have a profound impact on the Middle East, Israel, and the world. Leaders from the United States, India, Saudi...
  • ACWA Power signs clean energy agreements with Chinese firms

    Riyadh, Saudi Arabia/Guangdong, China -- Saudi-listed ACWA Power has signed MoUs with two Chinese firms to bolster collaboration in China and globally in green hydrogen and ammonia, global renewable energies and integrated smart energies. The agreements were signed with state-owned China Southern Power Grid International Company and clean energy integrated...
  • Saudi capital market assets under management rise by $14bn in Q2

    Riyadh, Saudi Arabia -- The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital Market Authority (CMA) rose 7 percent, or SAR 53 billion ($14 billion), quarter-on-quarter (QoQ) to SAR 823.6 billion in Q2 2023, according to the authority’s data. The total AUM held...
  • Saudi and Russian oil cuts to cause big supply shortfall: IEA

    The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this year, partly due to resurgent Chinese consumption and jet fuel. But the extension of Saudi and Russian output cuts "will lock in a substantial market deficit" through the last three...
  • Normalization of Israeli-Saudi ties hit Palestine, security barriers

    Despite Israel's strong determination and increasing US mediation efforts, the establishment of diplomatic relations between Tel Aviv-Riyadh still face serious obstacles.
  • Saudi capital market institutions employ 5,524 by second quarter end: CMA

    Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the end of the second quarter of 2023, according to the latest data from the Capital Market Authority (CMA). Males accounted for 80 percent of the employees at capital market institutions,...
  • Saudi Venture Capital invests $5m in VentureSouq fintech fund

    Riyadh, Saudi Arabia - Saudi Venture Capital (SVC) has made a $5 million investment in a fintech fund managed by VentureSouq (VSQ), primarily targeting early-stage fintech startups. The SVC, established in 2018, is a government investment company and a subsidiary of the SME Bank, one of the development banks affiliated...
  • ‘Saudi Arabia sees fastest growth among G20 nations’

    "The Saudi economy achieved a growth rate of 8.7 percent in 2022, the fastest among G20 countries, surpassing the expectations of international organizations, which had estimated it at a maximum of 8.3 percent," the minister points out, adding that the Kingdom ranks 17th among the world's 64 most competitive economies.
  • Saudi SME Bank inks pact with SIDBI of India

    New Delhi, India - The Small and Medium Enterprises Bank (SMEB) of Saudi Arabia has signed an agreement with the Small Industries Development Bank of India (SIDBI).  SMEB acting CEO Abdulrahman bin Mohammed bin Mansour and SIDBI Deputy Managing Director Sudatta Mandal attended the signing ceremony in the Indian capital,...
  • GCC real estate transactions surge on demand increase

    GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the market, contributing 54 percent to the total value.
  • Five-member Israeli delegation makes first open visit to Saudi Arabia

    An Israeli delegation attended a UNESCO meeting in Riyadh, marking the country's first publicly announced visit to Saudi Arabia as speculation grows about a potential normalization of ties. The five-member delegation arrived, an Israeli official told AFP, for the meeting to update UNESCO's world heritage list of cultural and historic...
  • Saudi Industrial Production Index falls third month in a row

    Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) fell for the third month in a row, declining by 9.8 percent year-on-year (YoY) in July. Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI retreated to 122.03 points in July, according to the base year 2010,...
  • Saudi national stopped at Delhi hotel lobby while trying to meet UAE President

    New Delhi, India - A Saudi Arabian national attempted to gain access to a five-star hotel in Delhi where UAE President Mohamed bin Zayed Al Nahyan was staying, the Indian newspaper, The Indian Express reported on Monday. The individual was promptly intercepted by vigilant security personnel while trying to approach...
  • Saudi Arabia, India boost alliance with multiple MoUs

    India and Saudi Arabia held their first Strategic Partnership Council meeting, emphasizing the strengthening of defense and security partnerships between the two nations.
  • The relationship between us is in our DNA: Saudi Crown Prince to Indian PM Modi

    The state visit of the Crown Prince follows a historic agreement to launch a massive maritime and rail connectivity corridor between India, the Middle East, and Europe that was announced during the G20 conference on Saturday.
  • Russia to cancel tourist visas to four Gulf countries

    Speaking at the Eastern Economic Forum (EEF), Russia's Minister of Economic Development Maxim Reshetnikov said that his country has offered the complete cancellation of tourist visas to Kuwait, Oman, Bahrain, Saudi Arabia and Malaysia. "We are exploring the topic of making the transition to visa-free travels," he added.
  • Saudi Arabia’s ROSHN Group announces $2.4bn in commercial partnerships

    Riyadh, Saudi Arabia - Saudi Arabia's leading real estate developer, ROSHN Group, announced on Sunday a series of commercial partnerships totaling $2.4 billion, Saudi Press Agency (SPA) reported. The most significant deal, valued at $2.05 billion, was signed with China Harbor Engineering to develop 6,700 residential units in Riyadh's Sedra...
  • ‘Saudi Arabia emerges as a leader in digital economy’

    "Today, the Kingdom takes pride in its advanced technological sector, which has solidified its regional and global position as a leading tech hub. With national digital capabilities boasting global qualifications and enabling digital infrastructure, these collective advancements get reflected in international indices and reports," he adds.
  • Riyadh to host 45th session of UNESCO’s World Heritage Committee

    Riyadh, Saudi Arabia -- Saudi Arabia is hosting the extended 45th session of UNESCO's World Heritage Committee from September 10 to 25 in Riyadh. This session anticipates the participation of 3,000 individuals representing 21 member states of the World Heritage Committee, out of the 194 states that have ratified the...
  • IsDB to finance projects worth US$800m in member states

    JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects worth US$800 million for improving the living conditions of the people in member countries and attaining Sustainable Development Goals (SDGs). IsDB President Dr. Mohammed Al-Jasser said that the projects were...
  • $17.32bn projects launched on first day of Cityscape Riyadh

    Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate projects worth around SAR 65 billion ($17.32 billion) on the opening day. ROSHN Group will have four strategic partnerships of over SAR 9 billion in the fields of construction and...
  • Saudi Arabia’s first social network Jaco attracts 1m users in 2 months

    RIYADH, SAUDI ARABIA:   The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the team is working to reach five million users soon. He added that Jaco's attraction of over one million users in the coming two months from other networks, including well-known names,...
  • Mega projects bet high on diversified future

    This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high investments in the real estate sector and infrastructure projects.
  • ADES prices IPO $3.33-$3.60 per share

    The book-building process starts Sunday and run through Sept. 14.
  • Secret talks, lasting failures: key Israeli-Palestinian peace bids

    US president Ronald Reagan's administration opens dialogue with the Palestine Liberation Organization (PLO) in 1988 after its exiled leader Yasser Arafat agrees to recognize Israel's right to exist. Three years later, in late 1991, Washington and Moscow co-organize an Israeli-Arab peace conference in Spain.
  • ‘Historic’ EU-Middle East-India trade plan launched

    At the G20 Summit in New Delhi, the US, EU, Saudi Arabia, and UAE have launched an ambitious trade initiative to connect railways, ports, and energy networks globally.