The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's deal was for 100 matches this season and for both English and Spanish language rights. The matches will feature on Fox Sports 2 and Fox Deportes as well as Fox...

Riyadh, Saudi Arabia -  In recent days, speculation has grown about the Biden administration's attempts to broker a normalization agreement between Israel and Saudi Arabia. This potential diplomatic breakthrough, akin to climbing Mount Everest, has significant implications for the Middle East and global geopolitics. While the road ahead is fraught...

In Q2 2023, net profit jumped 25.7% to $21.8 million.

Istanbul, Turkey - Turkey's exports to Saudi Arabia have skyrocketed by an astonishing 630 percent in the first seven months of this year compared to the same period in 2022, the dailysabah reported on Thursday.Data compiled by the Turkish Exporters Assembly (TIM) revealed that exports to the kingdom reached an...

Kuwait City, Kuwait - Kuwait has barred hit film Barbie from cinemas over concerns about "public ethics", officials have said, also confirming a separate ban on a horror movie featuring a transgender actor.Barbie and Talk to Me both "promulgate ideas and beliefs that are alien to the Kuwaiti society and public...

Riyadh, Saudi Arabia -- The Saudi Tourism Investment Company (ASFAR), a Public Investment Fund (PIF) portfolio company, has announced a sponsorship agreement with Al-Hilal Saudi Club, one of Saudi Arabia's premier football clubs. The sponsorship deal will run for three seasons. Under the terms of the agreement, ASFAR will serve as the...

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in Tokyo on Tuesday.The mission comes as part of the Saudi Export Development Authority efforts aimed at developing non-oil Saudi exports, stemming from its role in promoting exporters and their products,...

Dubai, UAE --  Granting the United Arab Emirates the status of a member of BRICS group (Brazil, Russia, India, China, South Africa) will allow the association to push Western countries towards accepting changes in the system of international relations, especially with regard to trade and de-dollarization, an international affairs expert...

Iran and Saudi Arabia agreed to resume diplomatic relations and reopen their respective embassies following a China-brokered deal announced in March.

Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions declined 16 percent year-on-year (YoY), or SAR 36.2 billion, to nearly SAR 184.42 billion ($49.15 billion) in 2022.The Ministry of Justice said that this is the first decline in the value of real estate transactions in the past...

Islamabad, Pakistan - Pakistan's Prime Minister Shehbaz Sharif met on Tuesday with visiting Saudi Deputy Foreign Minister Waleed bin Abdulkarim Al Khuraiji, and discussed regional and international development.They also discussed bilateral relations and ways to enhance and develop them in various fields in a way that achieves the aspirations of...

Its net profit for Q2of 2023 rose to US$187m.

Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and terrorist attacks" and if Western countries stopped arms supplies to Kyiv. It also called on Ukraine to cede its occupied territories to Moscow.

The film titled 'Talk to Me' features Australian actor Zoe Terakes. (AFP)

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, Monday announced the establishment of the Kayanee Company, a unique lifestyle integrated concept designed to inspire and enhance women’s well-being in Saudi Arabia. Kayanee will focus on women’s health and lifestyle of future generations through six offerings,...

Jeddah, Saudi Arabia -- The Saudi Geological Survey (SGS) and the Argentine Mining Geological Service (SEGEMAR) have signed a Memorandum of Understanding (MoU) to foster scientific and geological cooperation. The agreement was signed by SGS CEO Abdullah bin Muftar Al-Shamrani and SEGEMAR Executive Secretary Silvia Chavez, in the presence of...

Jeddah, Saudi Arabia-- More than 40 representatives of countries from around the world gathered in Jeddah, pledging to continue holding consultations that could pave the way for peace in Ukraine and end the deadly war.A meeting was held in Jeddah for national security advisors and representatives from over 40 countries...

Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa to travelers from eight newly-eligible countries: Albania, Azerbaijan, Georgia, Kyrgyzstan, Maldives, South Africa, Tajikistan, and Uzbekistan.Nationals of these countries can apply for a Saudi visitor visa ahead of their journey...

MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round.

Riyadh, Saudi Arabia -- Most of Saudi Arabia's real estate market sectors recorded growth in the second quarter of 2023, with Grade A office rents in the capital Riyadh growing by 12.2 percent and Grade B rents rising by 14.4 percent year-on-year.Average occupancy for both segments in the capital also...

Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF), which set up 25 companies and created 181,000 jobs during the year, latest official data has pointed out. The 2022 annual report of the PIF highlighted the establishment of a...

The investments are expected to localize partnerships.

Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power plant in the Central American country.In this connection, the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, today signed a loan agreement with the Prime Minister...

Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4 percent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said.During June, Japan's total crude oil imports were 68.5 million barrels, of...

Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.Brent crude futures rose $1.10, or 1.3%, to settle at $86.24 a barrel, while the...

Russia invaded Ukraine on February 24, 2022, failing in its attempt to take Kyiv but seizing swathes of territory that Western-backed Ukrainian troops are fighting to recapture. Beijing, which says it is a neutral party in the conflict but has been criticised by Western capitals for refusing to condemn Moscow,...

Makkah, Saudi Arabia - A scientific forum organized by Arab and Islamic universities’ associations has recommended the formation of a working group of scholars and researchers to become envoys for the Muslim World League’s (MWL) initiative, "Building Bridges Between East and West.”The forum, titled “The role of media in enriching...

The dispute over the field -- known as Arash in Iran and Dorra in Kuwait and Saudi Arabia -- dates back to the 1960s when Iran and Kuwait awarded overlapping offshore concessions. Last year Kuwait and Saudi Arabia signed an agreement to develop the field, despite objections from Iran which...

Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to strain the region's finances, data and analytics company GlobalData said in its Global Risk Report Quarterly Update -- Q1 2023. The region's risk score went up from 54.3 out of...

Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase in net income to SAR 6.1 billion at the end of 2022, compared to 2021.Bander Sulaiman Alayed, the Deputy of Market Institutions, said the retained profits in capital market institutions...

Geopolitical tensions, such as the Russian-Ukrainian war and the trade war between the United States and China, have sent shockwaves through the oil market, says an expert.

RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of 2023, the finance ministry said on Thursday.Saudi Arabia, the world's top oil exporter, recorded a budget surplus of almost $30 billion in 2022 as the high prices of the fossil...

Riyadh, Saudi Arabia -- Saudi Arabia will extend the voluntary 1 million barrels per day cut, announced in July, to the month of September, with the possibility of further extension.Saudi Press Agency, quoting an official source from the Kingdom's Ministry of Energy, said the country's production for the month of...

The second quarter net profit fell 85 percent on weaker demand.

British director Peter Hutton, who sits on the league's board, told the BBC: "I think the budgets are in place for a number of years -- you know, I don't see this slowing down." He added: "I've worked in sport for 40 years and I've never seen a project as...

Both Saudi Arabia and Kuwait renewed "their previous and repeated calls to the Islamic Republic of Iran to negotiate" the demarcation of their maritime borders to settle the issue, according to the statement carried by the official Saudi Press Agency (SPA). Recent attempts to revive negotiations have failed.

The net profit rose to US$39.21m in H1 of 2023.

Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are projected to experience faster growth rates compared to other member nations

Dubai, UAE - Human rights groups have accused Saudi Arabia of detaining five relatives of a US citizen who pursued a commercial lawsuit in Pennsylvania against royals including Crown Prince Mohammed bin Salman.The five detainees appeared briefly on Monday at the Specialized Criminal Court in Riyadh, which was established in 2008...

LONDON —Strategically important power and water projects controlled by GCC governments or government-related entities (GRE), are benefitting from the support and lower risks, according to the latest report by Fitch Ratings.GCC governments typically play multiple roles in power and water desalination projects, often controlling project companies with minority stakes held...

The company has approved a cash dividend of SAR225 million.

The twice African footballer of the year is the latest high profile player to join the cash-rich Saudi league. Both clubs announced the transfer involving the former Liverpool star which German media estimated at around 30 million euros on a three-year deal with an annual salary for Mane of 40...

Jakarta, Indonesia-- Saudi Arabia and Indonesia have discussed defense and military cooperation in a meeting between Indonesian Minister of Defense Prabowo Subianto and his Saudi counterpart, Prince Khalid bin Salman bin Abdulaziz. According to SPA, the two officials discussed bilateral relations and military and defense cooperation, as well as other issues...

Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the market with a 57 percent increase, fueled by demand for luxury properties.

Singapore, Singapore - Liverpool manager Jurgen Klopp on Tuesday urged football authorities to address the late closure of the transfer window in the Saudi Arabia league, fearing it may have a detrimental effect on European clubs.Speaking in Singapore on the eve of his team’s pre-season friendly against German champions Bayern Munich,...

SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone for the construction of a new library in the University of Sarajevo here.The funding for construction and equipping of the library has been through a generous US$22 million grant provided...

Dubai, UAE -- Nesma & Partners, a contracting company funded by Saudi sovereign wealth fund, the Public Invesment Fund, has signed an agreement to acquire Kent, a global energy services provider. The acquisition is expected to close by the end of the calendar year, subject to regulatory approvals and satisfaction...

Rise was driven by a jump in insurance revenue.

Yemen's finance minister and central bank governor as well as the Saudi ambassador were expected to disclose details of the grant at a signing ceremony in Riyadh. Since 2015, Riyadh has led an international coalition backing the Aden-based government in its war against Houthi rebels, who seized the capital Sanaa...

The drop was even higher (79 percent) in the second quarter.