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Saudi Arabia

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • Saudi Arabia issues tax warning to businesses: Pay up or face hefty fines

    Riyadh, Saudi Arabia - Saudi authorities have issued a clear warning to businesses operating within the country: settle your outstanding taxes promptly or brace yourself for substantial fines. The call comes from Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA), which has taken a strong stance on enforcing tax compliance.The...
  • GCC steps up to diversify Europe’s natural gas supply

    Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options.
  • NDF helps in financing of US$2.2bn renewable energy project

    RIYADH, SAUDI ARABIA -  The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to the US$2.2 billion (SAR8.3 billion), 2.6 GW Al Shuaibah solar project that is to be carried out by the National Infrastructure Fund (under establishment).This is one of the world’s largest...
  • Japan prepares to hold foreign ministers meet with GCC nations in Sept

    Tokyo, Japan -- Japan is preparing to hold a foreign ministers' meeting with the six member states of the Gulf Cooperation Council in Saudi Arabia in early September, a report said.Japan's Kyodo News said the meeting comes as Japan aims to strengthen relations with oil-producing countries in the Middle East...
  • Saudi Arabia’s football rise ‘long-term project’, says top official

    The Saudi Pro League has a years-long commitment from the kingdom's rulers in its goal to become one of the world's top competitions, chief operating officer Carlo Nohra said. Nohra was speaking at Al-Hilal's unveiling of Brazilian superstar Neymar, who joins Cristiano Ronaldo, Karim Benzema and a host of other...
  • 25 teams attending Afro-Arab Esports League 2023 in Saudi Arabia

    Riyadh, Saudi Arabia -- The Afro-Arab Esports League, which opened Saturday in Saudi Arabia, will see participation from over 25 national teams. These teams will compete for three days in a variety of tournaments tailored for both men and women, covering popular games such as eFootball and Valorant.The inauguration ceremony...
  • Saudi Arabian Crown Prince launches KAUST’s new strategy

    RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board of Trustees, launched on Sunday a new strategy of the university.The strategy aims to transform research into economically productive innovations by focusing on the national priorities for research, development, and...
  • Brazilian exports to Arab countries up 8% in seven months

    Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to the Arab world during the first seven months of 2023, totaling to $10.61 billion, compared to $9.825 billion in the same period in 2022.Brazilian exports to the the kingdom totaled...
  • Al Hilal wins over Fulham striker Mitrovic for US$64m

    Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to join Al Hilal. The club is reported to have negotiated a $64 million deal for the 28-year-old. The Premier League club confirmed the Serbian's departure following Saturday's 3-0 Premier home...
  • Saudi Arabia and Kazakhstan to boost environment, agriculture ties

    Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture.The strengthening of ties in these sectors came up in a meeting between President of Kazakhstan Kassym-Jomart Tokayev and Saudi Arabia's Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli.Both affirmed the...
  • Malaysia’s edible oil industry eyes Middle East market

    As Middle Eastern countries rise economically and their populations grow, Malaysia sees a bigger role in fulfilling the region's growing demand for edible oils and fats.
  • Brazil star Neymar arrives in Saudi Arabia ahead of unveiling ceremony

    Riyadh, Saudi Arabia--Neymar was greeted with much fanfare Friday as he arrived in Saudi Arabia where he joins a growing list of big names lured to the oil-rich kingdom.The 31-year-old Brazil forward who will be unveiled as an Al-Hilal player on Saturday after six seasons with French champions Paris Saint-Germain landed...
  • India and Saudi Arabia discuss visit of Crown Prince to India

    Riyadh, Saudi Arabia - India and Saudi Arabia are in discussions regarding a state visit by Crown Prince Mohammed bin Salman to India, Indian television channel Timesnow reported on Friday. The discussions are said to be centered around the Crown Prince's visit after the G20 summit on September 9-10 which he...
  • Saudi CST urges public for feedback on ‘space use plan’ for frequency spectrum

    Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space use plan for frequency spectrum, aiming at enabling space radio services, studying the most critical trends and needs of manufacturers, operators and users.Besides it will ensure optimal use of frequency...
  • Saudi Arabia and India sign agreement on digital economy

    Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing.The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning, and to strengthen their partnership in digital research and innovation and the use of emerging technologies.It also...
  • Saudi Crown Prince and Iran foreign minister discuss bilateral relations

    Iran's foreign minister met Saudi Arabia's Crown Prince Mohammed bin Salman during his first visit since the Middle East rivals announced a rapprochement, officials said. Hossein Amir-Abdollahian, who travelled to Riyadh on Thursday, held talks with the Crown Prince in Jeddah, the Saudi foreign ministry said, after extending a scheduled...
  • Barbie film draws crowds in Saudi Arabia, generates buzz

    Riyadh, Saudi Arabia - After being banned in several Arab countries, blockbuster film Barbie in Saudi Arabia is drawing huge crowds.The unexpected success of the film Barbie in Saudi Arabia has become a symbol of the dramatic societal changes taking place in the Middle East. Despite calls for its ban...
  • ‘Fuel of the future’: Gulf states bet on ‘green’ hydrogen

    The investment in green hydrogen has not curbed expansion in oil and gas, with both the UAE and Saudi Arabia planning to grow their hydrocarbon industries. Experts predict it could still take years before Gulf countries can produce green hydrogen at a cost competitive with fossil fuel-based alternatives.
  • Saudi Arabia executes US national convicted of killing Egyptian father

    The death sentence for Bishoy Sharif Naji Naseef was carried out in the Riyadh region, the official Saudi Press Agency said. The Gulf kingdom is frequently criticised for its prolific use of capital punishment, which human rights groups say undermines its bid to soften its image through a sweeping "Vision...
  • Disparity remains as Saudis, Emiratis see wealth gains

    The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region experiencing an increase in their wealth.
  • Iran Foreign Minister stresses unity on first Saudi visit since ties restored

    Hossein Amir-Abdollahian also took the opportunity to reiterate the Islamic republic's support for the Palestinian cause at a time when Riyadh is in discussions with the United States about potentially normalizing ties with Israel.
  • Saudi economic support vital for progress in various sectors: Yemen PM

    Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor for achieving progress in various service and development sectors.During a cabinet meeting today in Aden, Abdulmalik pointed out that the kingdom's economic support backs the efforts of the Yemeni government...
  • Risk of renewed conflict in Yemen: UN sounds alarm

    The poorest country on the Arabian peninsula, Yemen's economy has collapsed in the eight years of war between Iran-backed Houthis and the Saudi coalition-backed government. The conflict has left hundreds of thousands of people dead and millions displaced, with the UN having accused all parties -- including in Saudi Arabia...
  • Saudi, Chinese companies, banks sign 12 pacts worth $1.33bn

    Beijing, China - Saudi Arabian and Chinese companies and banks on Wednesday signed 12 agreements involving an investment exceeding $1.33 billion (SAR 5 billion). The agreements covered infrastructure development, financing, with five of them related to housing projects.The agreements were signed at the Saudi-Chinese Business Forum being held in Beijing...
  • ACWA Power is preferred bidder for DEWA’s Hassyan Seawater Reverse Osmosis plant

    DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday that Saudi Arabia’s ACWA Power is the “preferred bidder” for the construction and operation of the 180 Million Imperial Gallon per Day (MIGD) Sea Water Reverse Osmosis Hassyan Phase 1...
  • Russian defense officials meet Saudi Arabian, Iranian counterparts

    MOSCOW, RUSSIA - The 11th Moscow Conference on International Security, held at the Patriot Congress and Exhibition Center here, saw high-level discussions between Russian Deputy Defense Minister Alexander Fomin and military representatives from Saudi Arabia and Iran.In a meeting with Talal Abdullah Al-Otaibi, military adviser to the Saudi defense minister,...
  • Saudis, Emiratis gain wealth, but disparity remains

    In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent of adults in the UAE, according to Global Wealth Report 2023.
  • Riyad Capital okays 2.5% cash dividend

    The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
  • 4.4m travel by SAR in H1 2023

    Train trips in H1 2023 rose 46 percent compared to H1 2022.
  • Saudi Arabia lures football stars with big money

    From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from clubs across Europe.
  • Oil price, COVID-19 spur Arab world’s public finance

    Central banks are prioritizing fiscal and monetary policy coordination to boost macroeconomic stability, cut inflationary pressures, and support long-term growth.
  • Five skills workers require in real estate

    Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance the sector’s GDP contribution while fostering job and investment prospects.
  • Brazil footballer Neymar to join Saudi Arabia’s Al-Hilal

    Paris, France - Brazil forward Neymar has signed for Saudi Arabia's Al-Hilal from Paris Saint-Germain, the clubs announced on Tuesday, joining Cristiano Ronaldo and Karim Benzema as the latest big name lured to the Kingdom."I am here in Saudi Arabia, I am Hilali," Neymar said in a video posted to Al...
  • Mawani adds 20 cargo services to Saudi Arabia’s ports in H1

    Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam, and Jubail during the first half of 2023, a development that inspired the Kingdom’s latest score of 76.16 points in the Q2 2023 update of the UNCTAD’s Liner Shipping Connectivity...
  • Ceer Siemens

    Ceer and Siemens deal to boost EV in Saudi Arabia

    Riyadh-based Ceer is collaborating with Siemens Digital Industries Software to accelerate Ceer’s digital transformation and empower its engineers to design and build truly next-generation vehicles.
  • Saudi minister, Chinese firms seek collaboration in housing development

    Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting with key leaders from Chinese housing infrastructure companies, which are aimed at fostering collaboration in infrastructure, urban development, housing, real estate development, and financing. The Kingdom's ambassador to China, Abdulrahman...
  • Ma’aden, BADC ink agreement

    Firm to supply 600,000 tons of fertilizers to BADC.
  • US special Yemen envoy Lenderking’s Gulf tour to push for longer truce

    "The United States is committed to supporting a resolution to the Yemen conflict as soon as possible. We are working closely with the UN, Saudi Arabia, UAE, Oman, and other partners to build on the UN-mediated truce, which has delivered the longest period of calm since the war began, and...
  • Saudi Arabia to introduce stricter labour fines, penalties to ensure workers’ rights

    Riyadh, Saudi Arabia - The Saudi Ministry of Human Resources and Social Development (MHRSD) is set to introduce a system of fines and penalties targeting employers who breach labor regulations, a report in Saudi Gazette said.The changes encompass a wide array of labor-related violations: The companies will face fines for...
  • Saudi Arabia’s NDMC issues local sukuk worth US$9.57 billion

    Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi Sukuk Issuance Program, in addition to an early purchase of more than $9.52 billion.In a statement carried by the Saudi Press Agency (SPA), NDMC outlined that such a step is...
  • Naval forces in Gulf warn ships against nearing Iranian waters

    "Vessels are being advised to transit as far away from Iranian territorial waters as possible" to minimize the risk of seizure, US Fifth Fleet spokesperson Commander Tim Hawkins told AFP. The International Maritime Security Construct (IMSC), led by Washington, is "notifying regional mariners of appropriate precautions to minimize the risk...
  • Chancellor Scholz urges further talks after Saudi-led Ukraine summit

    Representatives from around 40 countries including China, Germany, India and the United States took part in last weekend's gathering in Jeddah, though Russia was not invited. "It makes sense for us to continue these talks, because they increase the pressure on Russia to realize that it has taken the wrong...
  • UAE ranks first globally in employing Indians, Saudi second: Minister

    New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently employing more than 3.55 million people from the world's most populous country, India's Minister of State for External Affairs, V Muraleedharan, told parliament.The number of Indians in the UAE last...
  • Saudi Arabia, France vow to promote secure, affordable and sustainable energy

    RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met and issued a joint communiqué:The Government of the Kingdom of Saudi Arabia and the Government of the French Republic acknowledge that energy is one of the main pillars of their...
  • GCC deals with rice shortage amid Russia-Ukraine war

    The Russian-Ukrainian war heightens global food crisis fears as India, followed by the UAE and Russia, sequentially impose rice export bans, disrupting global supply chains.
  • Saudi home to three of top five Arab smart cities

    Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart cities.
  • Gulf’s green transition: How Turkiye can lead the way

    As these countries -- including Saudi Arabia, UAE and Qatar -- progress to the next phase of their economic diversification, focusing on renewable energy technologies and cutting-edge manufacturing, Turkiye can emerge as a dependable partner, offering opportunities for technology transfer and joint development, he adds.
  • Saudi names Nayef al-Sudairi as non-resident envoy for Palestine

    Al-Sudairi, the current ambassador to Jordan, will also serve as consul general in Jerusalem, a new position announced amid speculation about possible future ties with Israel. The file for the Palestinian Territories has traditionally been handled by Saudi Arabia's embassy in Amman.
  • Riyadh to host Peace and Sport Middle East Forum in Oct

    Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by the Saudi Olympic and Paralympic Committee on 18-19 October.The forum will be held under the theme, “Sport is an answer for peace”, at the Cultural Palace in Riyadh-based Diplomatic Quarter...
  • Brazilian striker Firmino scores hat-trick on Saudi debut

    Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday as Al- Ahli defeated Al-Hazem 3-1.The 31-year-old skipper found the net in the sixth, 10th and 72nd minutes for the promoted team who also fielded fellow new signings Riyad Mahrez,...