The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector and fostering growth across industries

Mohammed bin Salman has left for a state visit to France where he will meet President Emmanuel Macron, a statement said on Wednesday. On Monday, Saudi Crown Prince will attend an official Saudi reception for Riyadh's candidacy to host Expo 2030. The trip underlines close French ties with the resource-rich...

Riyadh, Saudi Arabia-- Saudi Arabia vaults to the 13th position on the air connectivity index of the International Air Transport Association (IATA) in 2023, up from the 27th position in 2019.In the ranking that includes over 200 countries, the Kingdom achieved a record rise by 14 places. It achieved its...

Saudi Arabia announced that it would jointly lead a conference on the humanitarian response to the war in Sudan next week. The pledging conference will be held on June 19, the official Saudi Press Agency said, citing the foreign ministry, adding it would be jointly led with Qatar, Egypt, Germany,...

Riyadh, Saudi Arabia -- The 10th edition of the Arab-China Business Conference successfully concluded on Monday with the announcement of the Riyadh Declaration, a multimodal framework to strengthen economic and investment partnerships shared between the Arab world and China.The announcement lays the foundation for continued collaboration with a focus on...

Doha, UAE - Saudi Arabia and Qatar on Monday signed a memorandum of understanding (MoU) to enhance cultural cooperation in a move to strengthen bilateral ties. The agreement was signed between the visiting Saudi Minister of Culture, Prince Badr Bin Abdullah Bin Farhan and his Qatari counterpart, Sheikh Abdulrahman bin Hamad...

Riyadh, Saudi Arabia-- In order to boost the travel and tourism industry in the kingdom, Saudi Arabia will offer instant e-visa options to visitors, facilitating UK, US, and Schengen visa holders, as well as permanent residents of UK, US, and any EU country to obtain tourist e-visas.Saudi Arabia had previously...

The contract's impact will show in the firm's Q3 financials.

Riyadh, Saudi Arabia – Saudi Arabia’s environment ministry on Monday signed a memorandum of understanding (MoU) with the Beijing Institute of Genomics on the sidelines of the 10th Arab-China Business Conference. The MoU is aimed at designing and operating joint initiatives. The two parties will cooperate to develop scientific research, technology...

"The Kingdom will invest more than $800 billion during the next 10 years", added the minister, noting that tourists may acquire Saudi tourist visas electronically. He underlined the nation's commitment to bolstering its travel and tourism industry while attending a session of the 10th Arab-China Business Conference.

The Kingdom will invest more than $800 billion over the next ten years, the Saudi Minister of Tourism Ahmed bin Aqeel Al-Khateeb said adding that tourists may acquire Saudi tourist visas electronically. Already, visitors from 49 countries have been allowed to obtain electronic visas , since the launch of tourism...

Investment agreements between the two sides covered diverse sectors such as technology, renewables, agriculture, real estate, minerals, supply chains, tourism, and healthcare.

Riyadh, Saudi Arabia – The SMEs Bank system of the National Development Fund has signed 20 agreements valued at more than SAR 1 billion ($266 million) with several financial technology entities, local and international investment funds and e-commerce platforms.These deals include 10 agreements and MoU by the SMEs Bank worth...

The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster a shared prosperous future.

The event is aimed at bolstering trade and economic alliances between Arab and Chinese business communities and to explore a variety of investment opportunities. The sectors in focus include technology, renewable energy, agriculture, real estate, minerals, and supply chains.

Riyadh, Saudi Arabia-- In order to ensure compliance with the goals of Saudi Arabia's Vision 2030, the National Industrial Development and Logistics Program (NIDLP) has come out with its annual report for the year 2022, reviewing achievements in the four core sectors of the economy: energy, industry, mining, and logisticsIt...

London, UK-- Saudi Arabia and the UK have held discussions to boost trade and economic partnership between the two countries.The discussions were held during Saudi Arabia’s Minister of Commerce Dr. Majid Al-Qasabi visit to London, where he held a number of meetings with British ministers and leaders of major companies...

Although many ceasefires have been broken, yet the twenty-four truce is seen as a chance to give the people of Sudan a brief respite from the ongoing civil war. Saudi and US mediators have warned that failure to observe the ceasefire would force facilitators to consider adjourning talks in Jeddah.

GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is that Cloud Service Providers must reside in their service regions, overcoming which could significantly expand regional financial services and mark a new phase in GCC's financial evolution.

Fireworks and flame-throwers greeted Benzema, wearing their black and yellow kit with the number nine, at Al-Ittihad's 60,000-seater stadium in Jeddah, where a giant 'KB9' was emblazoned on the pitch in bright lights. Benzema, who won five Champions Leagues, four La Liga titles and three Copas del Rey with Madrid,...

"At the invitation of President Xi Jinping, president of the state of Palestine Mahmud Abbas will pay a state visit to China from June 13 to 16," foreign ministry spokesperson Hua Chunying said. Beijing has positioned itself as a mediator in the Middle East, brokering the restoration of ties between...

Riyadh, Saudi Arabia - Israel is not happy with the restoration of diplomatic relations between Tehran and Riyadh and is actively seeking to disrupt it, Alireza Enayati, Iran's new ambassador to Saudi Arabia, said in an interview with Iran's al-Alam news network.“Many of our friends and brothers welcomed the restoration...

At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report.

Foreign Minister Prince Faisal bin Farhan, in a joint press conference with Blinken, played down talk that the oil-rich kingdom was moving away from Washington in favour of its giant rival, Beijing. "I don't ascribe to this zero-sum game," Prince Faisal said in Riyadh. "We are all capable of having...

Riyadh, Saudi Arabia -- Saudi Arabia's livestock imports during the current Hijri year increased by 40 percent compared to the same period last year, the kingdom's Ministry of Environment, Water and Agriculture said Thursday.Since the beginning of this month, a total of 700,000 imported head of livestock have been cleared...

Riyadh, Saudi Arabia -- Riyadh and Washington urged Western governments Thursday to repatriate citizens who joined the Islamic State group in Iraq and Syria, where thousands still languish in prisons or camps.Saudi Foreign Minister Prince Faisal bin Farhan said it was "disheartening and absolutely unacceptable" that some wealthy countries had not brought...

The Gross Domestic Product at current prices amounted to SAR 1 trillion ($267.95 billion) in Q1/2023. Crude petroleum and natural gas activities had the highest contribution to GDP with 26.7 percent, followed by government services activities with 15.3 percent and manufacturing excluding petroleum refining with 9.7 percent.

The romance of a Barcelona return and prospect of eye-watering riches in Saudi Arabia fell by the wayside as Messi opted to join MLS, with Miami a city he has holidayed in on previous occasions. Messi said he would have loved to return to Barcelona but was afraid that the...

Riyadh, Saudi Arabia--Saudi Arabia and Oman have launched a joint tourist visa to boost trade and investment cooperation in tourism-related projects.The unified tourist visa between the two countries was one of the several initiatives agreed upon at a high-level meeting held between officials of the two countries. The new cooperation in...

Blinken spoke during a Gulf Cooperation Council ministerial meeting in the capital Riyadh following talks with Saudi Foreign Minister Prince Faisal bin Farhan and Crown Prince Mohammed bin Salman.

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.