The Kingdom has the highest economic growth among the G20 countries in 2022, driven by strong oil production and non-oil sector growth, says the latest IMF report.

Dubai, UAE -- NEOM has finalized contracts worth SAR 21 billion ($5.59 billion) with investors for the expansion of the first phase of its residential communities to house the region’s growing workforce, making it one of the largest international public-private partnerships for accommodation.The bidders for the first phase of the...

Tehran, Iran-- With the restoration of diplomatic ties between Iran and Saudi Arabia, the talk in government circles in Tehran is now focused on cooperating with Riyadh on peaceful nuclear technologies.A hint of the potential cooperation between the two former adversaries came in a tweet by a media outlet considered...

US-based PGA Tour and Europe's DP World Tour have partnered with LIV's Saudi sponsors to form a new jointly-owned, profit-oriented entity, inviting mixed reactions from Golf world.

"We consider today an important day in the relations of the Islamic Republic of Iran and the Kingdom of Saudi Arabia," Iranian Deputy Foreign Minister Alireza Bigdeli told a flag-raising ceremony. "The cooperation between the countries is entering a new era."

Dubai, UAE -- Non-institutional foreign investors increased their ownership in Tadawul-listed equities, excluding Saudi Aramco, to SAR 310.80 billion ($82.87 billion), in the week that ended on June 1, Argaam reported.The ownership of non-institutional foreign investors is represented by swap agreements, residents, and qualified foreign investors (QFIs). However, it does...

Despite improvement in cost-to-income ratio, net profit sees only a marginal rise of 2.7% QoQ to $4.61bn due to slower growth in operating income and high impairment charges.

Blinken's trip will also focus on efforts to end conflicts in Sudan and Yemen, the joint battle against the Islamic State group and the Arab world's relations with Israel. His visit comes at a time of quickly shifting alliances in the Middle East, centered around a China-brokered rapprochement in March...

The event on Jun 14 aims to sell more than 2 million tons of high-quality CORSIA carbon credits registered with Verra, which manages a variety of carbon offset programs, including the Verified Carbon Standard. More than 15 companies from Saudi Arabia and other countries will participate in the auction.

Riyadh, Saudi Arabia - Real Madrid's Ballon d'Or winner Karim Benzema has signed for Saudi Arabia's Al-Ittihad for three years starting next season, a source in the Jeddah-based club told AFP on Tuesday."Benzema has signed a contract for his transfer to Al-Ittihad for a three-year period starting next season," the source...

"The United States has a real national security interest in promoting normalization between Israel and Saudi Arabia. We believe we can and indeed we must play an integral role in advancing it," Blinken told the American Israel Public Affairs Committee, the powerful pro-Israel lobby.

Tourism and Finance were the next flourishing sectors named in the poll in which the majority of the respondents were in the 20-29 age group and mostly from Egypt.

The SAR 3 per share dividend will be paid on 31 July.

Iran is set to reopen its embassy in Saudi Arabia on Tuesday following a seven year closure, Tehran and a diplomatic source said, sealing a Chinese-brokered rapprochement deal announced in March. Riyadh severed relations with Tehran in 2016 after its embassy and consulate in Iran were attacked during protests.

Saudi authorities are "in contact with more than 10 players, many of them won the World Cup or the Champions League, to join the Saudi league next season", the source close to the negotiations said. In addition to Messi, "the list includes Benzema, Ramos, Di Maria, Modric, Hugo Loris, Kante,...

Dubai, UAE -  Around 70 percent of top-performing teams in the GCC have a higher percentage of women, underscoring the positive impact of gender diversity on organizational success, a survey by Bain & Company has revealed. Leading the way in this transformation are the United Arab Emirates (UAE) and Qatar, while...

Muscat, Oman-- Looking to entice investors to the country's fisheries sector, Fisheries Development Oman (FDO) is taking part in Saudi International Marine Exhibition and Conference (SIMEC) event, Aquafish Second Edition, with a plan to highlight Oman's flourishing fishing industry and lucrative investment opportunities it offers.The event, taking place from June...

Al Hilal football club officials are in Paris to seal a mega-deal with Lionel Messi, who is leaving Qatar-owned Paris-Saint Germain. The officials will meet Messi's agent, Jorge, with the aim of completing the signing. One source said Saudi delegation has one goal: "to return with Messi official approval to...

Vienna,  Austria – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d, starting 1 January 2024 until 31 December 2024.This was announced by the global organisation in a statement following the 35th OPEC and non-OPEC Ministerial Meeting in Vienna today.According to the statement, OPEC...

Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries may make deeper cuts.

The last truce was agreed to allow desperately needed humanitarian aid and safe passages into areas of Sudan ravaged by the fighting, but like all that preceded it was routinely violated by both sides.

Syria's opposition urged the resumption of moribund United Nations-sponsored talks with the regime of President Bashar al-Assad, who has returned to the Arab fold after years of isolation. "The international, regional and Syrian conditions provide an appropriate circumstance for the resumption of direct negotiations...," the Syrian Negotiation Commission said in...

Riyadh, Saudi Arabia -- Saudi Arabia has advanced three ranks in the Times Higher Education Impact Rankings in 2023, with 25 Saudi universities securing a presence in the global performance index.The number of Saudi universities was 22 in 2022 within the international ranking, which sorts universities that impact achieving the...

The UAE energy minister Suhail Mohamed Al Mazrouei said he expected the outcome of meeting to "balance the market and ensure we are ready for any challenges in the future". Analysts expected OPEC+ producers to maintain their current policy, but signs emerged that staying the course might fall short of...

Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council (GRC) during its 11th annual meeting in The Hague, The Netherlands.Dr. Munir Eldesouki, the President of King Abdulaziz City for Science and Technology, will continue to represent Saudi Arabia at...

Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market.

Iranian Navy Commander Rear Admiral Shahram Irani has declared the formation of a new naval coalition. This alliance, encompassing regional powers like Saudi Arabia, UAE, Qatar, Bahrain, and Iraq, aims to enhance maritime security and underlines the increasing recognition of the need for regional synergy in establishing security.

Riyadh, Saudi Arabia - Saudi Arabia's Minister of Sports, Abdelaziz Al-Faisal, has reportedly added fuel to the speculation surrounding Lionel Messi and Karim Benzema's potential moves to the Gulf country, effectively ending their careers in European football. Benzema is said to have received a staggering €400 million offer from an undisclosed...

Cape Town, South Africa -- Saudi Arabia Minister of Foreign Affairs, Prince Faisal bin Farhan bin Abdullah, met Friday with Iranian Minister of Foreign Affairs Hossein Amir-Abdollahian on the margins of the Ministerial Meeting of Friends of BRICS Group in Cape Town.Regional rivals Iran and Saudi Arabia agreed to restore...

Blinken's June 6-8 trip comes as both the United States and Saudi Arabia are seeking to broker a durable cease fire between Sudan's warring generals. On the trip, Blinken will "discuss US-Saudi strategic cooperation on regional and global issues and a range of bilateral issues including economic and security cooperation,"...

Al Nassr forward's first season in the kingdom ended with a whimper, but Saudi football has never enjoyed such attention.

Analysts are now divided over whether Saudi Arabia and Russia will keep the group on course with its current output policy, or further curtail production. "The recent inconsistent rhetoric from the two heavyweights certainly threw the spanner in the works and it is hard to predict the outcome," said Tamas...

The Saudi wealth fund will acquire a 30% stake in the gorcery chain.

Riyadh, Saudi Arabia - Portuguese star Cristiano Ronaldo pledged to remain in Saudi Arabia next season on Thursday despite failing to land any silverware since his lucrative move to the oil-rich kingdom.Ronaldo's January signing for Al Nassr has been followed by speculation about how long he will stay, including reports...

The couple exchanged their vows in a traditional Muslim wedding ceremony called "katb al-ketab" in an open-air gazebo adorned with flowers.

Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a report by the General Authority for Statistics (GASTAT) said. The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1...

Riyadh, Saudi Arabia - The number of SMEs in Saudi Arabia increased by 4.8 percent in the first quarter of 2023, reaching a total of 1.2 million, Saudi Arabia's General Authority for Small and Medium Enterprises (Monsha'at) reported on Wednesday. This growth was driven by the launch of 88,858 new SMEs...

The Middle East headquarters has been set up in Riyadh.

"The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said. It set the total population of the country at 32.2 million: 58.4 per cent Saudi nationals and most others from South Asia or elsewhere in the MENA...

Riyadh, Saudi Arabia -- The number of small and medium enterprises (SMEs) in Saudi Arabia hit 1.2 million by the first quarter of this year, an increase of 4.8 percent over the fourth quarter of last year, while 89,000 new enterprises were launched during this period.The kingdom's General Authority for...

The issue is part of the SAR 20 billion local sukuk program.

This implies a market capitalization of $888 million.

Beirut, Lebanon--A Saudi national who had been kidnapped in Beirut has been freed in a "special operation" by the Lebanese army near the Syrian border, it said in a statement Tuesday."An army intelligence patrol managed to free kidnapped Saudi national Mashari al-Mutairi during a special operation on the Syrian border," the...

The cash dividend of SAR1.50 per share will be paid for H1 2023.

An additional $31 billion in investments are in progress, the Special Economic Zones Investment Forum in Riyadh was told Tuesday. At the forum, four Special Economic Zones (SEZs) licenses were awarded to the King Abdullah Economic City’ (KAEC) SEZ, ‘Ras Al-Khair’ SEZ , ‘Jazan’ SEZ, and ‘Cloud Computing’ SEZ. Early...

The five-year financing was secured by promissory notes.

Dubai, UAE -- Saudi Arabian Alinma Bank posted the first quarter asset growth of 19.1 percent, leading other Saudi-listed banks, compared to same period a year ago. Al Rajhi Bank came second with 18.1 percent growth. The sector’s average growth rate stood at 11.2 percent.The Saudi Investment Bank led by...

The cooperation of all parties will achieve the best-desired results and goals for which it was established, he adds during the meeting, which discussed the approval of the final accounts of the General Secretariat and the judicial body of the organization for 2022, in addition to the studies it completed...

The UAE's strategic allure for global talent through enticing policies clashes with Saudi Arabia's ambitious Vision 2030, diversifying economy and broadening talent avenues.

His trip comes just two days after Tehran freed Belgian aid worker Olivier Vandecasteele from almost 15 months in custody in exchange for diplomat Assadollah Assadi, who was held in Belgium over a 2018 plot to bomb an Iranian opposition rally outside Paris. Oman helped facilitate the prisoner swap