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...

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...

Despite Israel's strong determination and increasing US mediation efforts, the establishment of diplomatic relations between Tel Aviv-Riyadh still face serious obstacles.

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,...

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...

"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.

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 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.

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...

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,...

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...

India and Saudi Arabia held their first Strategic Partnership Council meeting, emphasizing the strengthening of defense and security partnerships between the two nations.

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.

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.

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...

"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, 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...

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...

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...

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,...

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.

The book-building process starts Sunday and run through Sept. 14.

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.

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.

Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and Europe. This modern-day Spice Route aims to integrate regions that represent about a third of the global economy. Washington, Saudi Arabia, the EU, the UAE, and other nations plan to...

His visit comes at a time when Washington is actively engaging with the kingdom, encouraging it to normalize ties with Israel. "This has been the result of months of careful diplomacy, quiet, careful diplomacy, bilaterally and in multilateral settings," US Deputy National Security Advisor Jon Finer said Saturday. This project...

LYON, FRANCE - President of Saudi Arabia’s Oversight and Anti-Corruption Authority ‘Nazaha’ Mazin bin Ibrahim Al-Kahmous on Friday visited the headquarters of the International Criminal Police Organization (Interpol) here. The Saudi and Interpol staff discussed several topics of common interest.    The two sides discussed cooperation between Nazaha and Interpol...

Spending by Saudi Arabian football clubs in the transfer window just closed was second only to that by teams in the English Premier League, said separate reports by FIFA and Deloitte. The sport's world governing body said Saudi Pro League teams had spent $875.4 million on new players from June...

New Delhi, India - President Biden, along with the leaders of India, Saudi Arabia, and the United Arab Emirates (UAE), is likely to ink a railway deal to connect the Middle East during the G20 Summit in New Delhi, a report published in Axios.com said.  The initiative aims to establish...

DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has expressed readiness to build an economic partnership with the BRICS countries. The Saudi Press Agency said the two sides had discussed various issues at the BRICS summit, where Saudi Arabia...

Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to Q2 of 2022, according to Kingdom's General Authority for Statistics (GASTAT). A GASTAT report showed a 6.1 percent increase in non-oil activities over 2022, a 2.3 percent increase in government...

A recent study in BMJ Oncology 2023 has highlighted an alarming increase in early onset of cancer cases in the Gulf countries, particularly the UAE, Qatar, and Saudi Arabia, from 1990 to 2019. While these countries report staggering growth rates, nations like Lithuania, Georgia, and Latvia have seen a decline.

It is expected to speed up the use of yuan in trade.

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.   The IMF said in a statement...

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.

Saudi Arabia's embassy in Tehran resumed operations last month. In June, Iran marked the reopening of its embassy in Riyadh with a flag-raising ceremony. Last month Iran's top diplomat, Foreign Minister Hossein Amir-Abdollahian, preached unity and dialogue during his first visit to Saudi Arabia since the surprise rapprochement was announced,...

Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.

The Saudi production cut of one million barrels per day which first took effect in July will continue "for another three months until the end of December 2023", the kingdom's energy ministry said in a statement. Russia's export cut of 300,000 bpd will continue for the same period, Deputy Prime...

GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to the nationals.

Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy, has witnessed the signing of 21 agreements and memoranda of understanding (MOUs) across various sectors.Hosted in Milan, the Forum was attended by the Saudi Minister...

Riyadh, Saudi Arabia - An Israeli sports delegation arrived in Saudi Arabia on Monday to participate in the World Weightlifting Championships, as reported by Israeli media. This marks a historic moment, as it's the first time Israeli weightlifters are competing in Riyadh, Saudi Arabia, for the championship that began on...

Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user touching $270 as compared to $181 in MENA. With the game live streaming market poised to an annual growth rate (CAGR 2023-2027) of 10.08% in Saudi Arabia, esports is gaining...

Riyadh, Saudi Arabia -- The Saudi Heritage Commission announced on Monday the nomination of 50,000 urban heritage assets across the Kingdom of Saudi Arabia for registration. This process is being carried out in close coordination with various stakeholders, following the Antiquities and Urban Heritage regulations.  ]The Commission has outlined its...

Tehran, Iran--Iran's President Ebrahim Raisi has termed Saudi Arabia and Iran as the two most influential countries in the region and the Islamic world as he lay emphasis on the need for strengthening relations between the two. The president made the remarks In a meeting with Iran's newly-appointed ambassador to...

Islamabad, Pakistan - Pakistan's caretaker Prime Minister, Anwaar-ul-Haq Kakar, announced on Monday that Saudi Arabia plans to invest up to $25 billion in Pakistan over the next two to five years across various sectors. The investment is part of a concerted effort to boost foreign direct investment in the South...

New Delhi, India -  The share of the BRICS (Brazil, Russia, India, China, South Africa) group in the global Gross Domestic Product (GDP) is set to increase from its current 26% to 30% starting January 2024, State Bank of India (SBI) said in its report.  The growth is attributed to...

Jeddah, Saudi Arabia--Saudi Arabia’s Crown Prince Mohammed bin Salman has announced the establishment of Global Water Organization in order to safeguard water resources, the Saudi Press Agency (SPA) reported on Monday. The newly formed organization will have its headquarters in Riyadh and is set to play a pivotal role in...

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The move by the two countries' football federations would contribute to "fostering closer ties between their respective footballing communities, allowing clubs to host matches on their home turf and visiting the respective away stadiums, creating a more engaging and exciting experience for the fans and players alike," the Asian Football...

Doha, Qatar -- More than 2.56 million people visited Qatar from January to August 25, which is more than the full-year arrivals in 2022 and marking a 157 percent increase over the same period last year, according to Qatar Tourism. Qatar Tourism said in statement that the latest achievement bears...