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...

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...

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...

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 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...

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

Compared to the last quarter of 2022, net profit fell by 1.4 percent

“The Kingdom advanced 15 places in the Global Innovation Index in 2022. Winning prizes and top ranks in international competitions has become a yearly tradition for the Kingdom's students and talents. This includes winning 27 awards at the Regeneron ISEF 2023 conference," he adds.

Within minutes of the ceasefire taking effect late Monday, witnesses in the capital Khartoum reported air strikes and gunshots. The one-week truce is the latest in a series of agreements that have all been systematically violated, with the army and the paramilitary Rapid Support Forces (RSF) accusing each other of...

RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and distribute innovative products targeted to reduce smoking prevalence and promote healthier lifestyles by offering tobacco-free and less harmful alternatives.   The initiative, in the run-up to the World Health Organization...

The company had posted a loss of 3.2 million riyals the previous year.

Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals supply chains. The agreement was signed between Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, and the United Kingdom’s Secretary of State for Business and Trade, Kemi...

Government initiatives, such as the national e-commerce strategy and consumer protection regulations, are playing a key role in facilitating the shift in consumers' choice, says a report.

Muteb Alshathri, acting CEO PIF, told the Saudi-Iraqi Coordination Council in the kingdom that the Saudi-Iraqi Investment Company will invest in mining, real estate, infrastructure, mining, agriculture and financial services. In October last year, the fund announced it will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman...

On Wednesday, Canadian Foreign Minister Melanie Joly said the two countries will "appoint new ambassadors". A Canadian foreign ministry statement named Jean-Phillipe Linteau as Ottawa's new envoy to the kingdom. The latest announcement follows a frenetic stretch of high-stakes Saudi diplomacy triggered by the kingdom's surprise Chinese-brokered rapprochement deal with Iran...

Riyadh, Saudi Arabia - Saudi astronauts Rayyanah Barnawi and Ali Al-Qarni have used the Amateur Radio on board the International Space Station (ISS) to talk with a group of students. The astronauts made the call when the ISS flew over the ground station in Riyadh.  The call, made in coordination...

Riyadh, Saudi Arabia - The logistics sector in Saudi Arabia is poised for remarkable expansion, with its market size projected to grow to SAR 57.4 billion ($15.3 billion) by 2030, according to latest data.  The surge is an outcome of the efforts made by the Ministry of Transport & Logistics...

The new envoy, Alireza Enayati, previously served as Iran's ambassador to Kuwait, assistant to the foreign minister and director general of Gulf affairs at the foreign ministry, the English-language Iran Daily said. There was no immediate confirmation of his appointment from the foreign ministry of the Islamic republic.

Oman has close ties with Iran and played a mediating role between Tehran and Washington in the build-up to a nuclear deal reached in 2015. Stop-start talks began in April last year to restore the deal, after the US unilaterally withdrew from it in 2018, prompting Tehran to roll back...

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE. Meeting her ministerial counterparts in...

The firm's net profit in Q1 2022 was $1.57bn versus $46m in Q1 23.

Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three goals of vigilance, initiative and proactiveness. He added that the inaccurate forecasts of the International Energy Agency led to price volatility in the energy market last year and in the...

Riyadh, Saudi Arabia - The Saudi Royal Guard and the Bahrain Royal Guard have started the joint security exercise “Haris” in Riyadh. The joint exercise is part of the continuous cooperation between the Saudi Royal Guard and the Bahrain Royal Guard. The exercise was inaugurated by Major General Mohammed bin...

NEOM, Saudi Arabia - NEOM, the futuristic city being developed in Saudi Arabia, has announced its collaboration with Rajasthan Royals, a prominent T20 cricket team from India, to launch its inaugural cricket program. The pilot initiative aims to promote an active and healthy lifestyle among NEOM's growing workforce, which is...

Beirut, Lebanon -- Syrian President Bashar al-Assad has returned to the Arab fold after more than a decade of isolation, eyeing reconstruction and aid from formers foes as the conflict grinds on. Since the brutal civil war broke out in 2011, it has killed more than 500,000 people, displaced millions and...

The firm will manufacture pipes for the global energy giant.

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...

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...

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...

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...

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...

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.