Dubai, UAE -- Brazilian exports to Arab countries during the first four months of this year have increased by 10.33 percent, reaching $5.69 billion, compared to $5.162 billion during the same period last year, the Arab Brazilian Chamber of Commerce (ABCC) said.The top destination for Brazilian exports during this period...

The company posted a net profit of $111 million.

Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) on Sunday discussed a plan of action on the protection and integration of persons with disability at the open-ended meeting of the International Group of Experts at its headquarters in Jeddah. During the meeting, experts reviewed the draft OIC Plan of...

Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3 billion into three new solar projects in Saudi Arabia.To this end, the companies announced the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC). The solar...

Riyadh, Saudi Arabia -– Two Saudi astronauts will conduct 14 scientific and research experiments during their ongoing space mission.The Kingdom’s first-ever astronauts Ali Al-Qarni and Rayyanah Barnawi, who is the first Muslim female astronaut, will engage in 11 research and scientific experiments within a microgravity environment at the International Space...

With little investment and few projects in operation around the world so far, the technology to capture carbon before it goes into the atmosphere as a potential global warming solution is currently nowhere near the scale needed to make a difference to global emissions.

The ceasefire "may be extended with the agreement of both parties," a joint statement issued after talks in Jeddah said. "Unlike previous ceasefires, the Agreement reached in Jeddah was signed by the parties and will be supported by a US-Saudi and international-supported ceasefire monitoring mechanism," it said.

Air strikes and artillery exchanges shook the Sudanese capital and armed men ransacked the Qatari embassy as the country's warring generals kept up their struggle. Khartoum residents said that heavy fighting raged despite repeated global calls for a truce. The area around the state television building in Omdurman was also...

Geneva, Switzerland – The Saudi Fund for Development (SFD) signed on Friday a $39 million multiyear contribution agreement with the Global Fund to fight AIDS, Tuberculosis and Malaria. The grant will support the fight to end global pandemics and strengthen health and community systems.Announced during the Global Fund's 7th replenishment,...

He stresses on resolving the Palestinian issue, expressing concerns over escalating Israeli attacks and calling for a collective response to establish an independent Palestinian state. Taha also expresses the OIC's commitment to peace and stability in Yemen, Libya, and Syria, and urged increased solidarity with Somalia.

The Arab League Summit, which concluded on an optimistic note in Jeddah, highlighted the need for unified Arab positions and effective strategies to confront current challenges.

Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the war in Ukraine.

Zelensky's surprise trip to the summit in the Red Sea coastal city of Jeddah was his first to the Middle East since Russia invaded Ukraine in February 2022. An Arab League official told AFP the invitation came from Saudi Arabia, not the bloc itself.

The investments this year account for 37 percent of the sector's total, and 17 percent of the total existing factories, the kingdom's Ministry of Industry and Mineral Resources said.

The summit in Saudi Arabia comes at a time when the world's biggest oil exporter is flexing its diplomatic muscle across the Middle East and beyond. It follows a frenetic stretch of high-stakes diplomacy triggered by the kingdom's surprise Chinese-brokered rapprochement deal with Iran announced in March.

Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with an affiliate of Hyatt Hotels Corporation to establish luxury hotels across the kingdom.The collaboration aims to develop several hospitality-led destinations which will enhance the tourism sector in the country. The...

The company achieved a 145 percent growth compared to Q1 2022.

Riyadh, Saudi Arabia -- A team of Saudi and international archeologists has discovered ancient hand-made stone structures at Al-Dhulayat Mountain in Al-Jouf region in the north of the kingdom, dating back to about 8000-9000 years ago.The discovery was part of an archeological survey conducted by the Heritage Commission in cooperation...

Two astronauts, Barnawi and Ali Al-Qarni, said that they are fully prepared for their upcoming scientific mission to the International Space Station which is scheduled on May 21.

Riyadh, Saudi Arabia - A new Film Investment Fund was established  in Saudi Arabia on Wednesday with a $100m capital injection, aimed at boosting the development of the country’s growing film industry. The fund is the first capital injection initiative under the Investment Track of Saudi Cultural Development Fund's recently launched...

Riyadh, Saudi Arabia -- Saudi Arabia's National Center for Privatization (NCP) has signed a cooperation agreement with the Industrial and Commercial Bank of China (ICBC), the world's largest bank with total assets of approximately $5 trillion, that will have a positive impact in attracting the bank's extensive client base looking...

Riyadh, Saudi Arabia -- Nearly SAR 133.3 billion ($35.54 billion) were spent in the first nine months of 2022 by about 73 million tourists -- both domestic and inbound -- who visited Saudi Arabia.Saudi Arabia's Ministry of Tourism defines a tourist as every visitor (domestic, inbound or outbound) with an...

Jeddah, Saudi Arabia--Saudi Arabia and Algeria have agreed to expand bilateral relations, boosting ties in all areas.In this regard, Prince Faisal bin Farhan bin Abdullah, the Minister of Foreign Affairs, and Algerian Minister of Foreign Affairs and National Community Abroad Ahmed Attaf have signed an agreement to establish the Saudi-Algerian...

The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest quarterly performance.

The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.

The majority of per capita insurance spending (60%) went towards health insurance, followed by general insurance (37%) and protection and savings insurance (3%).

Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of warming relations between the estranged countries.According to Bahrain News Agency, the resumption of flights between Bahrain and Qatar “comes within the framework of the brotherly relations between the two brotherly...

The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the UN climate summit in Dubai later this year, Syrian state media said. Assad's first invitation to a global summit since the start of Syria's war in 2011 comes as the Arab world warms to Damascus after a...

At 2.7 percent, inflation remained unchanged from March, according to the kingdom's General Authority for Statistics. It was driven mainly by an 8.1 percent year-on-year rise in housing, water, electricity, gas and other fuel prices.

"I... take this opportunity to welcome the Syrian Arab Republic to the League of Arab States," Saudi finance minister Mohammed al-Jadaan told the meeting, which was broadcast live by state TV channel Al Ekhbariya. Jadaan added that he was "looking forward to working with everyone to achieve what we aspire...

The oil-rich kingdom has supported private institutions targeting startups to further boost investment in non-oil sectors.

Riyadh, Saudi Arabia -- Saudi Arabia's insurance sector grew by 26.9 percent in 2022, bringing gross written premiums to SAR 53 billion ($14.13 billion), Saudi Central Bank (SAMA) said in a report.SAMA said in the 16th Saudi insurance market annual report that health, protection and savings, and motor insurance recorded...

Jeddah, Saudi Arabia--The Islamic Development Bank (IsDB) Group has signed 77 financing agreements worth $5.4 billion with 24 member countries during its annual meeting in Jeddah. The four-day event hosted dozens of agreements, panels, summits, and business-to-business meetings with the high-level participation of its member countries.The agreements aim to develop...

Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to the latest data released by the Islamic Republic.According to Iran Customs Administration, the Islamic Republic traded 58.25 million tons of goods (excluding crude oil exports) worth $35.11 billion with the...

RIYADH, SAUDI ARABIA - Al-Hilal president Fahd Bin Nafel refused to comment on the possibility of signing Lionel Messi, insisting his Saudi Arabian side is "more important than just one player", as fans clamor for the World Cup winner."Don't ask me about Messi," Bin Nafel told reporters when asked after Al-Hilal's...

Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a meeting between the kingdom's Finance Minister Mohammed Al-Jadaan and the Islamic Republic's Economy Minister Ehsan Khandouzi.The meeting took place on Friday in Jeddah on the sidelines of the Islamic Development...

Riyadh,  Saudi Arabia - Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah discussed in a phone call on Friday, with his Russian counterpart Sergey Lavrov, bilateral relations and the ongoing war in Ukraine.During the call, the two ministers also exchanged views on a number of regional and...

GCC countries are investing in infrastructure and programs to become leading tourist destinations. With strategic locations, excellent connectivity, iconic attractions like the tallest building, and a commitment to eco-friendly tourism, they are poised for success in attracting visitors from around the world.

fighting and looting raged most of Thursday in the capital Khartoum and US diplomats were frank about the obstacles in the nearly week-long talks in Jeddah. "This is not a ceasefire. This is an affirmation of their obligations under international humanitarian law," said a US official involved in the talks,...

Amsterdam, Netherlands – Saudi Arabia and Netherlands on Thursday signed a Memorandum of Understanding to collaborate on energy on the sidelines of the  World Hydrogen 2023 Summit & Exhibition. The event was attended by the Saudi Minister of Energy Abdulaziz bin Salman Al Saud.The MoU aims to establish a framework for...

The net profit increased by 17 percent in Q1 compared to Q1 2022,

"Everybody is serious. Serious means everybody is looking for peace," Mohammed al-Jaber said in his first extensive comments after meeting with Houthi leaders in Sanaa last month. But he added: "It's not easy to be clear about next steps."

Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 4.1 percent in March 2023, compared to the same month last year, mainly due to an increase in production in the mining and quarrying activity, manufacturing and electricity and gas supply.The kingdom's General Authority for Statistics (GASTAT) said...

This is the company's highest-ever quarterly revenue.

The company posted a net profit of $104 million for the quarter.

The company attributed the loss to 'unfavorable market conditions'.

The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in the Arab countries. Qatar, UAE and Kuwait are also regional leaders.

The pan-Arab body had suspended Damascus in November 2011 over its crackdown on protests, which began earlier that year and spiraled into a war that has killed more than 500,000 people, displaced millions and battered the country's infrastructure and industry.

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the latest move to boost cooperation between the two countries.The memorandums of understanding call for cooperation in the future of mobility and innovation in the transport and logistic services sectors as...

Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7 percent YoY during Q1-2023 to US$29.9bn, says a latest report.