The company also posted its highest-ever quarterly profit.

Riyadh, Saudi Arabia - A delegation of Saudi Arabia discussed steps to enhance cooperation in maritime transport and ports with South Korea, local media reports said.Led by Saleh Al-Jasser, Saudi Minister of Transport and Logistic Services, the delegation visited South Korea and met Cho Seung-hwan, Minister of Oceans and Fisheries....

The deal would mean Messi potentially joins his arch-rival Cristiano Ronaldo in the Saudi league. There was no confirmation from Messi's current club Paris Saint-Germain, who noted simply that he was under contract until June 30 when contacted by AFP.

Riyadh, Saudi Arabia - Saudi Arabia is launching tourism projects worth SAR 1.5 billion ($400 million) in the targeted destinations around the kingdom. The Saudi Ministry of Tourism has sponsored ‘The Collective’ initiative launched by Kerten Hospitality, a hotel investment firm, to establish its projects under one umbrella. The announcement represents an...

A majority of the people who voted in a TRENDS poll see the China-brokered deal between the two countries as a positive development.

Riyadh, Saudi Arabia--Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade estimated to be around US$8 billion.In this connection, the members of the Saudi business sector delegation, represented by the Saudi-Italian Business Council, concluded their visit to Italy, during which they...

The participants are reported to have discussed the broad contours of the massive joint project to build railway, maritime and road connectivity in the larger region.

Multiple truce deals have been declared and quickly violated since battles erupted between army and paramilitary forces on April 15 in the poverty-stricken country with a history of political instability. Fierce combat since then has killed hundreds of people, most of them civilians, wounded thousands and sparked multiple warnings of...

Riyadh, Saudi Arabia -- The real GDP of Saudi Arabia grew by 3.9 percent in the first quarter of 2023, compared to Q1 of 2022.Flash estimates of GDP for Q1 of 2023, issued in a report by the General Authority for Statistics (GASTAT), showed a 5.8 percent increase in non-oil...

TEHRAN, IRAN- Iran executed Swedish-Iranian dissident Habib Chaab for "terrorism" on Saturday, according to the judiciary."The death sentence for Habib Chaab... nicknamed Habib Asyud, the head of Harakat al-Nidal terrorist group... was executed today, Saturday morning," the judiciary's Mizan Online website reported.Chaab had been held in Iran since October 2020 after...

Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial and mining sectors, besides increasing access to non-oil exports.In this connection, the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, held a meeting with Switzerland's State Secretary...

However, fighting continues in the Sudanese capital, where the conflict has already claimed around 700 lives and displaced nearly 450,000 civilians, reports suggest.

During late-night talks Thursday, Raisi and his Syrian counterpart Bashar al-Assad discussed "ways to develop and strengthen bilateral relations" and "emphasized existing cooperation in the field of reconstruction", according to a joint statement.

Abu Dhabi, UAE -- UAE President Sheikh Mohamed bin Zayed Al Nahyan and the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, Thursday spoke on the telephone to discuss bilateral relations between the two countries and ways to strengthen them further.The two leaders reviewed current areas of UAE-Qatar cooperation...

Jake Sullivan said that the meetings will help carry forward some very tangible initiatives that will be unlike anything they have seen in the region in recent years.

Iran's president hailed his visit to Damascus as a "turning point", after Tehran's support helped Syria retake most of the territory it lost in 12 years of war. Ebrahim Raisi's two-day trip is the first such visit to Tehran's close ally since 2010. "This trip will be a turning point...

The company expects Q2 margins to remain under pressure.

AMMAN, JORDAN  - Jordan's Minister of Foreign Affairs and Expatriates Ayman Safadi on Wednesday briefed his Russian counterpart Sergey Lavrov on the outcome of a consultative meeting held here on Syria.In addition to Jordan, the meeting on Tuesday also brought together the foreign ministers of Saudi Arabia, Iraq, Egypt and...

Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple its presence in the region by 2030.The hotel group, running 52 hotels and resorts in the Middle East, is planning to have 150 properties in operation and under development by...

Jeddah, Saudi Arabia -- Center3, a connectivity company owned by stc Group, and Meta Company announced on Tuesday the landing of the world's longest submarine cable project at two of the four planned landing sites in Saudi Arabia: Jeddah and Yanbu. ‏The project, a part of the 2Africa subsea cable...

Diplomatic efforts have intensified to end more than two weeks of war in Africa's third-largest country as warnings multiply about a "catastrophic" humanitarian crisis. Sudan's army chief Abdel Fattah al-Burhan and his deputy turned rival, Mohamed Hamdan Daglo, who commands the paramilitary Rapid Support Forces (RSF), "have agreed in principle...

Riyadh, Saudi Arabia - Saudi Arabia has approved new rules aimed at boosting foreign investment in the country's securities market. The rules framed by the Capital Market Authority (CMA) include those for Foreign Investment in Securities, amendments to the Investment Accounts Instructions, amendments to the Implementing Regulation of the Companies Law...

Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect from May 1. The final text was endorsed after extensive review by the SCCA’s board of directors.The SCCA, in a statement, said the new rules will apply to all arbitrations...

Riyadh, Saudi Arabia-- Saudi Arabia is looking to attract some US$26 billion dollars worth of investment in the machinery and equipment sector, according to its Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef. AlKhorayef, who is also Chairman of National Industrial Development Center (NIDC), announced that the industry...

It will be the largest integrated steel plate manufacturing complex in the kingdom to be located in Ras Al Khair Industrial City, one of the four special economic zones recently announced by Crown Prince Mohammed bin Salman, PIF said in a statement.

Riyadh, Saudi Arabia -- The number of containers handled by Saudi ports in the first quarter of 2023 grew by 17.57 percent to reach more than two million standard containers, the kingdom's General Authority of Ports (Mawani) said.The number of exported containers during the first quarter of 2023 witnessed an...

Despite significant rise in SMEs across GCC, there is still room for improvement in terms of governance, bringing in external shareholders, Rabih I. Khoury of MEVP tells TRENDS.

The visit comes against the backdrop of a rapprochement between regional rivals Iran and Saudi Arabia, and increased Arab engagement with Damascus. Iran is a major ally of President Bashar al-Assad.

JEDDAH, SAUDI ARABIA - The first Iranian evacuees to escape the Sudan conflict through Saudi Arabia arrived on Saturday in Jeddah, relieved that their country has settled its differences with the regional rival.The 65 Iranians were among about 1,900 people on the latest boat to arrive from Port Sudan as the...

Riyadh, Saudi Arabia-- Becht, an American engineering services company, has revealed that it is in talks with potential partners in Saudi Arabia in order to widen its presence in the region.According to its director for the Middle East, Chris Van Der Beek, Becht is also holding discussions with potential allies...

Riyadh, Saudi Arabia -- Saudi customs authority foiled an attempt to smuggle more than 4 million tablets of captagon through the Al-Bat-ha land inlet, SPA reported Friday.In a statement, the authority said that as many as 4,152,000 tablets of drugs were found hidden in a consignment shipped into the kingdom...

JEDDAH, SAUDI ARABIA  - Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments, Industry, and Trade Laziz Kudratov have signed three financing agreements for  the development of infrastructure and social services in the Central Asian country.These agreements aim to promote sustainable economic growth,...

While 82% firms are increasing investments in industrial automation and robotic process automation, 56% of them focus on enhancing employees' digital experiences at workplace.

On Wednesday, after a harrowing overland journey and overnight boat trip across the Red Sea, Sudan evacuees who have fled to Saudi Arabia, grateful to have survived but wracked with guilt and worry for those the left behind. The fighting in Sudan pits forces loyal to army chief Abdel Fattah...

New Delhi, India--India is looking to connect its power grid with Saudi Arabia and the UAE by way of undersea cables, according to Indian media, citing Union Minister for Power and Renewable Energy Raj Kumar Singh. The media reports said that India will sign bilateral agreements with Saudi Arabia and the...

Riyadh, Saudi Arabia— Saudi Arabia has signed a memorandum of understanding (MoU) with Wemade, a South Korean firm, to boost its presence in the gaming sector.The agreement between the Saudi ministry of investment and Wemade will enable the South Korean firm to widen its footprint in the kingdom. Wemade is...

While 67 deals totaling $247 million in funding were reported in March 2023, the total capital raised in Q1 2023 surpassed US$ 1.1 billion, marking a 17% rise over the last quarter.

Saudi Arabia regularly announces seizures of amphetamine pills without specifying whether they are captagon, used by wealthy Saudis as a party pill.

The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany, and France.

The net profit plunged by more than 56 percent compared to Q1 2022.

Dubai, UAE -Taking advantage of the boom in the tourism sector in the Middle East, Saudi Arabia and the UAE are engaged in frantic construction activity to build new hotels in order to cope with the rush of visitors.According to a report by STR, Saudi Arabia is involved in the...

Tehran, Iran-- Iraq's President Abdul Latif Rashid will make an official visit to Iran in the near future as the two countries seek to consolidate their relations amid the warming of ties between Saudi Arabia and Iran.The visit of the Iraqi president to Iran was confirmed in a phone conversation...

It will acquire a portfolio of towers in Europe for US$1.3bn.

"We came to send a message to the whole world that with this normalization, you will gain Bashar al-Assad the criminal, and you will lose the Syrian people," said Abdel Salam Mohammed Yussef, who heads a camp for displaced people.

The Kingdom is dedicated to collaborating with international and regional partners to find solutions in the climate sector. Saudi Arabia is working on carbon management techniques, decarbonizing the energy sector, reducing emissions of other gases, and ending deforestation, added the country's Climate Affairs Envoy.

A boat carrying Saudi citizens and other nationals rescued from battle-scarred Sudan arrived in Jeddah, Saudi state television said, in the first announced evacuation of civilians since fighting began. "The first evacuation vessel from Sudan has arrived, carrying 50 (Saudi) citizens and a number of nationals from friendly countries," the...

Riyadh, Saudi Arabia - Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud discussed bilateral relations in a phone call  with Russian President Vladimir Putin  on Friday.The two leaders exchanged views on a number of issues of common concern, Saudi Press Agency reported. The phone call...

TRENDS Twitter poll suggests 48% candidates face discrimination during job recruitment process in the Gulf region, while 30% do not, and 22% remain unsure.

Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to facilitate investments by foreigners and the local private sector.

Riyadh, Saudi Arabia - Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received a phone call from his Iranian counterpart Hussein Amir-Abdollahian, during which they discussed a number of issues of common interest between the two countries.The two sides discussed the next steps in light of what...