Funds will be used to finance working capital for projects.

PGA Tour and the Public Investment Fund (PIF) are partnering on creating a for-profit company that combines the PGA Tour's commercial business and its media rights. 

Jeddah, Saudi Arabia -- Saudi Arabia's General Directorate of Narcotics Control (GDNC) have arrested a citizen in Jeddah governorate for smuggling 209,000 pills of the narcotic methamphetamine. Legal action has been taken against him, and the case has been referred to the Public Prosecution, SPA reported.Security authorities have requested all...

AMMAN, JORDAN- Jordanian forces have killed three fugitives including two who had recently escaped jail in a raid near the kingdom's border with Saudi Arabia, authorities said on Sunday.Security forces raided on Saturday the hideout of three wanted fugitives "near the kingdom's southeastern border",  Public Security Directorate spokesman Amer Sartawi said...

Arab universities are increasingly focusing on quality and research, and many of them are making efforts to internationalize their programs.

France's energy transition minister Agnes Pannier-Runacher left the world's biggest oil exporter early Sunday morning after meeting with her Saudi counterpart. Emissions reduction targets can be more credible "when we give ourselves objectives in a short period -- 2030-2035 -- and therefore do not postpone the subject to 2050," Pannier-Runacher said in...

Riyadh, Saudi Arabia--Saudi Arabia and France have signed a memorandum of understanding (MoU) to cooperate in the field of energy, with a focus on renewable resources.In this connection, Saudi Energy Minister Prince Abdulaziz bin Salman and his French counterpart, Agnes Pannier-Runacher, signed the agreement.The two countries released a joint statement...

"The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani, Partner, Head of Middle East Research told TRENDS. "Overseas businesses are flocking to Riyadh, evidenced by a 54 percent rise in business licenses in 2022."

The number of domestic, international flights will rise.

Women drivers in Saudi Arabia is just one example, Jawhara al-Wabili says, of how women's rights have blossomed in recent years, allowing them to become ambassadors, bank directors, university administrators and even astronauts. Saudi scientist Rayyanah Barnawi took part in a mission to the International Space Station just this past...

Jeddah, Saudi Arabia - The Formula One Organizing Committee announced on Thursday the initial calendar for the 2024 FIA Formula One World Championship, which begins in Bahrain on March 2 and ends in Abu Dhabi on December 8.The 4th edition of the Formula 1 Saudi Arabian Grand Prix will be...

The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by a notable increase among women to 15.7%, according to an official report.

Dubai, UAE -- Remittances from expatriates in Saudi Arabia saw a slight decline year-on-year (YoY) to SAR 11.3 billion ($3.01 billion) in May, according to recent data released by the Saudi Central Bank (SAMA).On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia increased 14 percent, or SAR 1.35...

"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in the UAE. These outcomes serve as a testament to the insightful guidance and foresight of our wise leadership in fostering a robust and sustainable national economy," UAE Minister of Economy...

Paris, France - Saudi Arabia is continuing its multi-billion-dollar entry into all aspects of global culture, hitting a new milestone on Thursday with the first Saudi designer presenting at Paris Fashion Week.Mohammed Ashi's haute couture show -- his first as part of the official roster after years of dressing top celebrities...

Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for the latest production cuts by Saudi Arabia, Russia, and Algeria.Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August, while Russia announced...

Oil producers are grappling with falling prices and high market volatility amid fears of global economic slowdown and the Russian invasion of Ukraine, which has upended economies worldwide.

The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2023. UAE's impressive numbers led to an increase of the projects in West Asia by two thirds.

Backed by the nation's sovereign wealth fund, the Saudi Pro League is luring big names from the major European leagues with the promise of huge salaries. Former Liverpool captain Steven Gerrard took over as coach at Al-Ettifaq earlier in the week, while Karim Benzema and N'Golo Kante have also made...

Dubai, UAE - Saudi Arabia has introduced a new electronic visa system for Muslims intending to embark on the spiritual journey of Umrah. The Ministry of Haj and Umrah aims to facilitate the pilgrimage experience for Muslims worldwide by initiating this streamlined online application process. The visa issuance has commenced, and...

The subscription is open for 60 days until Aug 31.

The contracts are valid for 20 years, said Saudi Catering.

Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after signing a deal to become head coach of Al-Ettifaq.The 43-year-old has been out of the game since being sacked by Aston Villa in October.Gerrard had previously said he had turned...

KUWAIT CITY, KUWAIT -  Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready to start drilling in a disputed gas field in the resource-rich Gulf.Kuwait insisted it held "exclusive rights" to the maritime field along with Saudi Arabia, after the neighboring countries agreed...

In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move that briefly raised prices but failed to bring about lasting price recovery.

New tourism framework has been enacted, refining regulations and systems to lure investors, boost competitiveness, and elevate service quality in the sector across the Kingdom of Saudi Arabia.

The cut which first took effect for July will continue in August and "can be extended", the Saudi Press Agency (SPA) reported, citing an energy ministry source. "The source confirmed that this additional voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting...

The shareholders approved to distribute an 8.3% dividend.

Baghdad, Iraq - Saudi Arabia and the UAE have allocated $6 billion to support their operations in Iraq, the Federation of Iraqi Chambers of Commerce (FICC) announced on Sunday. The FICC signed an agreement with the two countries to create business councils. The FICC's president Abdul al-Razzaq al-Zuhairi told the...

Saudi Arabia's impressive performance in the 2023 Global AI Index is attributed to its comprehensive National Strategy for AI and dedicated government agency.

Saudi Arabia is investing $500 billion in NEOM, a future city in the northwest, expected to be a hotspot for tourism, tech, and innovation. It is also transforming the UNESCO heritage site, AlUla, into a key tourist attraction.

The Saudi Arabia-based Organization of Islamic Cooperation called for collective measures to avoid future Quran burnings, days after a copy was torched outside a Stockholm mosque. OIC met at its Jeddah headquarters to respond to Wednesday's incident in which an Iraqi citizen living in Sweden stomped on the holy book...

Riyadh, Saudi Arabia--Saudi Arabia will take part in the 15th Arab Games, "Algeria 2023," which is set to commence next Wednesday. Algeria will host the event until July 15th, with the involvement of all Arab nations.Saudi Arabian athletes will compete in 17 different sports, including 14 Olympic disciplines, such as...

Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according to US Energy Information Administration (EIA) estimate. OPEC members earned about $888 billion in net oil export revenue last year. That’s what the US Energy Information Administration (EIA) estimates in...

LONDON, UK - Novak Djokovic warned on Saturday that the "integrity and tradition" of tennis must be preserved should the sport strike a tournament deal with Saudi Arabia.Both the ATP and WTA, which run the money-spinning men's and women's tours, have had discussions with Saudi Arabia.The country has been signing up...

On Friday, two days after the last major ritual, tens of thousands of people packed roads and boarded buses out of Islam's holiest sites in Mecca, bringing the hajj to a close, the AFP correspondent said. They departed after performing a farewell "tawaf" - circling seven times around the Kaaba,...

Under a heavy police presence, Salwan Momika stomped on the Quran before setting several pages alight in front of Stockholm's largest mosque. Police in the Swedish capital had granted him a permit for the protest but said later they had opened a probe into the man over "agitation".

The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by 2030, says an expert.

Riyadh, Saudi Arabia - The Saudi Esports Federation (SEF) on Tuesday announced that Razer, the world’s leading lifestyle brand for gamers, will be the gaming gear partner at Gamers8: The Land of Heroes, the biggest gaming and esports festival worldwide.This is the second year in a row that SEF and...

MECCA, SAUDI ARABIA- If a landmark reconciliation between Saudi Arabia and Iran has eased tensions in the Gulf, clouds have also lifted at the hajj pilgrimage, where Iranian visitors finally feel welcome again.Seven years of enmity between the Sunni and Shiite powers had made for a cool reception for Iranian pilgrims...

The data showed most of the faithful came from abroad. The Kingdom's officials had predicted more than 2.5 million pilgrims, making it the largest to date. But officials figures carried by the state-run Al Ekhbariya TV showed that the total number of pilgrims for this hajj season as 1.84 million.

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion ($1.49 billion) in April 2023, compared to SAR 6.57 billion in 2022, the Kingdom's General Authority for Statistics said.Compared with March 2023, the Kingdom's imports from GCC dropped by 21...

RIYADH, SAUDI ARABIA- The Saudi Arabian Football Federation (SAFF) and the Fédération Internationale de Football Association (FIFA) announced on Monday that Jeddah will host the next edition of the FIFA Club World Cup 2023.This follows an official visit made by a FIFA delegation to Jeddah last week to inspect the...

After performing the ritual circumambulation of the Kaaba, the giant black cube at Mecca's Grand Mosque that Muslims pray towards each day, worshippers set off for Mina, about seven kilometers (more than four miles) away, in suffocating heat.

SPARK Logistics Company will meet the needs of investors.

RIYADH, SAUDI ARABIA – The Saudi Arabian Football Federation (SAFF) announced unprecedented funding and support for women’s football clubs.This initiative will help in growing women’s football leagues and will ensure its sustainability.SAFF  will provide financial help to Saudi Premier League and Women's First Division clubs. SAFF will allocate US$13 million...

The $15 million is located in Dammam area of the Kingdom.

Hyundai will build a petrochemicals complex in the kingdom.

Islam's holiest site is expected to host more than two million worshipers from 160 countries during the annual rites that could break attendance records.

Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices.