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...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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,...

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...

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...

"More than 200 essential medications have been identified, making up about 40 percent of the total purchases by government health institutions, totaling roughly SAR14 billion (US$3.73 billion). Efforts are currently in progress to produce some of these medications locally," the Saudi minister adds.

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation sector in the Kingdom and the adoption of three economic regulations for airports, ground services, air freight and air transport services, which came into force on Monday. The economic policy...

JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines transported 814,000 Umrah performers to and from Saudi Arabia, a 50 percent increase over last year, according to a press release issued by Saudia. Its commitment to operate during the...

SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.

Six Senses AlUla will open in Saudi Arabia in 2027.

stc's revenue was $14.5 billion in January-September 2023.

Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and services to the kingdom's healthcare sector. As per the terms of the agreement, Agility and MISA will explore four areas of collaboration in the healthcare sector. This includes the potential...

Riyadh, Saudi Arabia - Saudi Fund for Development (SFD) on Sunday signed a $100 million loan agreement to support the water sector in Argentina, marking the Fund’s first presence in the country.  The agreement will support the growing demand for potable water in Argentina’s provinces of Santa Fe and Córdoba....

Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts, the third derivatives product to be introduced in the Saudi Exchange.  SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and...

The profit growth was driven by 27% revenue increase.

Leading Arab opposition to Israel's planned invasion of the Gaza Strip, Saudi Arabia has denounced "any ground operations" due to the threat posed to Palestinian civilians. The kingdom's foreign ministry cautioned against the danger of continuing to "carry out these blatant and unjustified violations of international law against the brotherly...

Riyadh, Saudi Arabia - Two falcons were sold for 154,000 Saudi Riyals ($41,067) amid a large turnout of falcon enthusiasts and breeders from the Kingdom and the region on the 16th night of the auction, held in Riyadh. Both falcons are young peregrines. The first, from Hail city, was sold...

RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH Group's plans are unchanged with regard to listing in other markets, CEO Razi Al Murbati said. The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and...

RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting its Vision 2030 targets, a report revealed. Saudi Arabia's non-oil private sector is leading in growth for 2023, having accelerated to 5.8 percent year-on-year (yoy) in Q2 2023 and is...

Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges during the third quarter of the current year, after achieving market profits of nearly $167 billion, according to the Arab Monetary Fund. The Fund, in its quarterly bulletin on Arab...

New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory Body on Artificial Intelligence (AI), which consists of 39 members representing government and private and civil-society organizations and the academic community from various countries around the world.Shura Council member Dr....