Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out the cost of living in other cities of the Kingdom.

Riyadh, Saudi Arabia - Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10 percent stake in Brazil’s base metals company Vale, it said in a bourse statement on Sunday, as part of a strategy to invest in global mining assets. A binding agreement was signed by...

Dr Faqeeha commends the G20's support for the global platform CORDAP (Collaborative Action on Coral Reefs and People), which was launched during the Kingdom's G20 presidency. CORDAP aims to accelerate research and development for coral reefs globally and strengthen preservation and restoration efforts.

The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$ 340 million.

The talks to be hosted in the Red Sea coastal city of Jeddah next weekend will discuss a path toward peace in Ukraine, convening representatives from Kyiv, Western powers and developing countries. Russia is likely to miss the meeting just as it did not participate in a similar gathering last...

Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion.

NEW DELHI, INDIA -  The UAE ranked fourth in the world among the top 12 markets for Indian spices in the fiscal year 2022-23, the Spices Board of India announced. Spice traders, regulatory authorities, import associations and trade officials from the Gulf will be invited for the 14th World Spice...

Firm Saudi Tourism Investment Company has been set up.

New customers and projects were added in H1 2023.

The bank's profit in Q2 increased by 43% compared to Q2 2022.

During the meeting on Thursday with the Danish charge d'affaires, foreign ministry officials delivered a protest note urging an end to "these disgraceful acts, which violate all religious teachings (and) international laws and norms" and can "fuel hatred between religions", the official Saudi Press Agency said. Saudi Arabia and Iraq...

As part of this potential deal, Saudi Arabia would normalize relations with Israel, contingent on Israel making concessions to the Palestinians.

Liverpool, United Kingdom - Liverpool captain Jordan Henderson completed his move to Saudi Pro League side Al-Ettifaq on Thursday, becoming the latest big-name player to be lured to the Gulf state. The England midfielder, who posted a farewell message on Wednesday, has ended a 12-year stay at Anfield, during which he...

Riyadh, Saudi Arabia - Saudi Arabia has positioned itself as a potential world-leading hub for biotech research, development, and pharmaceutical manufacturing following an investment of $3.9 billion in research and development (R&D) since 2021.  The country's strategic move aligns with its ambitious goals of economic diversification and addressing crucial healthcare...

The air force jet was on a training exercise when it crashed on Wednesday in the south of the country, killing its crew, according to the kingdom's defense ministry. The statement from the ministry said that the accident resulted in the "martyrdom of the aircrew" without specifying exactly how many...

Riyadh, Saudi Arabia - The Public Investment Fund (PIF) announced on Thursday that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA) to expand cooperation and investment between the two entities, enabling new investments in Oman’s rapidly growing economy. The MoU provides incentives for PIF...

The money transfer firm plans to set up base across the GCC.

RIYADH, SAUDI ARABIA - The  Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition of the Lloyd’s List One Hundred Ports, steadily improving on the 24th position it occupied last year. The Minister of Transport and Logistics Services and Chairman of the Saudi Posts...

The Gulf emirate, whose revenues rely heavily on hydrocarbons, closed its fiscal balance with a surplus of $21 billion, the ministry said. More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.

A projected decline in the Middle East and Central Asia from 5.4 percent in 2022 to 2.5 percent in 2023 has been attributed to a steeper-than-expected growth slowdown in the Kingdom from 8.7 percent in 2022 to 1.9 percent in 2023, a negative revision of 1.2 percentage points.

Dubai, UAE - L&T Construction, part of Larsen & Toubro, has secured new orders in Saudi Arabia, Malaysia, and India. The company will construct a ±525kV High Voltage Direct Current (HVDC) transmission segment in Saudi Arabia. This forms part of a large capacity Voltage Source Converter (VSC) based HVDC system,...

The share of oil exports in total exports decreased from 80.8 percent in May 2022 to 74.1 percent in May 2023, according to General Authority on Statistics (GASTAT). Compared to April 2023, total merchandise exports decreased by SAR 7.0 billion or 6.7 percent.

While challenges remain in Saudi Arabia's bid for the Expo 2030 despite increasing global support, the Kingdom seems determined to continue its journey of transformation, with or without the Expo, marking a new era for Saudi Arabia on the international stage, the India-based journalist adds.

NEOM, the Kingdom's futuristic city, hosts Volocopter's pioneering eVTOL aircraft test flights, marking a substantial stride towards sustainable, smart mobility.

The decline was attributed to decrease in total operating income.

The H1 profit reached SAR 1.14bn ($303m) and Q2 profit SAR 585.9m.

The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy.

In just few years, Saudi Arabia has leapt up the global rankings to become a leading destination for international tourists, with rapid growth transforming its tourism sector.

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most investment in the next three years.

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced Sunday it has established Al Madinah Heritage Company to improve the quality and production capacity of Ajwa dates in the Madinah region. The launch of the Company will help further develop the Saudi Food and Agriculture...

The growth was backed by net special commission income.

DUBAI, UAE - Authorities in Yemen have identified a suspect in the killing of a World Food Program official in the southern Taez province, a security official has told AFP. Moayad Hameidi, the head of the UN food agency's office in Taez, was killed in a shooting on Friday in the...

Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the United Nations Framework Convention on Climate Change (UNFCC). The MENA week’s activities and events will be “Global Stocktake” to assess the progress made towards realizing the climate changes objectives outlined...

Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi Jinping's attendance at the first Chinese-Gulf summit in Riyadh seven months ago.

Oxagon is a coastal industrial city in Saudi Arabia's NEOM.

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of the camel farming industry in the Kingdom and actively contribute to its sustainable development. The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider...

For the wealthy Gulf states, combining their resources with Turkiye's defense and industrial achievements will produce lasting benefits not only in their economic diversification efforts but also in achieving greater strengths in countering security challenges, he adds.

The Saudi energy giant unveiled plans in March to acquire the stake in Rongsheng Petrochemical, valued at $3.4 billion. The deal calls for the supply of 480,000 barrels per day of Saudi crude to an integrated refining and chemicals complex owned by a Rongsheng affiliate.

Riyadh, Saudi Arabia - Saudi Arabia exported 321,000 tons of dates in 2022 worth 1.28 billion Saudi Riyals ($342 million), marking a 5.4 percent growth compared to the previous year. The growth trend is even more impressive when considering the long-term figures. In 2022, the Kingdom's dates exports surged by...

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination management companies. These firms are crucial cogs in the grand tourism machine, each contributing in unique ways towards marketing Saudi tourism and wooing tourists.

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies.

The dollar-denominated certificates have annual return of 5.23%.

The deal is worth US$266 million (SAR1.27 billion).

Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding in the first half of 2023, with a deployment of $446M (SAR 1.67 billion). According to a report published by the venture data platform MAGNiTT, the Kingdom accounted for 42...

The rise attributed to increase in total operating income.

issuance is the ninth tranche Sukuk program in US dollars.

The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage for increased non-oil intra-trade, job creation, and a significant boost in UAE exports to Turkey.

Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy. It is also drawing visitors from Russia and China. Owing to the thaw in relations with Saudi Arabia, Iran is now interested in closer ties with the Arab world.

Dubai, UAE - EdVentures, an Edtech corporate venture capital firm in the MENA region, has announced a strategic partnership with VMS, a Venture Studio helping entrepreneurs and startups in the Middle East to develop edtech industry in Saudi Arabia and Egypt.  Since its establishment in 2017, EdVentures, the investment arm...

While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security and optimism among expatriates.