OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change in strategy by citing "current healthy market fundamentals, as reflected in the low oil inventories".
Yemen stampede kills 85 at a charity distribution event
In one of the deadliest stampedes in a decade, more than 80 people died and hundreds were injured at a charity distribution event in Yemen, according to Houthi officials. The tragedy struck the Arabian Peninsula's poorest country a few days before Eid al-Fitr. A Houthi official said many women and...Syrian Kurds ready for talks with Damascus, sharing resources
"We affirm our readiness to meet and talk with the Syrian government and with all Syrian parties to hold discussions and present initiatives for a solution," the Kurdish authorities said.Proposed judicial overhaul threatens Gulf investment in Israel, Abraham Accords: Experts
The weakening of the judiciary and concentration of power will harm the high tech sector, deter foreign investment and make Israel less attractive as an economic partner.Step aside US: China’s road to global leadership goes through Middle East
If China successfully mediates the Israel-Palestine peace talks, it will cement its status as a global peacemaker, a role that has long been reserved for the United States.Saudi Arabia’s FDI bid: Economic zones, 100% foreign ownership, tax sops
The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones such as Jebel Ali have made it a regional hub for multinational corporations.Middle East thaw: Now Qatar and UAE to reopen embassies
"The technical committees are now doing their work in this context, and it is expected that there will be exchange visits to consider the procedures we need to reopen embassies." foreign ministry spokesperson Majid Al-Ansari told a briefing. A UAE official confirmed that the reopening of embassies is "under process".Sound Saudi-Syria relations should be norm, says Bashar al-Assad
The Syrian president met with Saudi Arabia's Foreign Minister Faisal bin Farhan in Damascus. This is the first visit to Syria's capital by a Saudi official since the start of the country's civil war in 2011, marking a new era in ties betwee the two countries.Saudi top diplomat heads to Syria for first visit since war
Recent months have seen increasing Arab engagement with Syrian President Bashar al-Assad, who has been politically isolated in the region since the war broke out. A flurry of regional diplomatic activity has been underway in the past week as regional relations shift following a decision by Saudi Arabia and Iran...Saudi crowdfunding platform Jood Eskan enters Guiness World Records
Dubai, UAE -- The Charitable Jood Eskan Subscription, Saudi Arabia's campaign for providing housing for low-income families, has entered the Guinness World Records for realizing the highest target for an electronic charitable campaign in one month.The campaign was launched by King Salman bin Abdulaziz Al Saudi and Crown Prince Mohamed...Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr al-Nimr. They have pledged to work for stabilizing the situation in the Middle East, where they have been supporting opposite sides in the conflicts of Syria and Yemen.After major Yemen prisoner swap, another 104 released: ICRC
A day after a major prisoner exchange, more than 100 prisoners of war were flown from Saudi Arabia to Yemen on Monday, raising hopes for peace in the future. Two ICRC planes carrying 48 prisoners each flew to Sanaa, Yemen's rebel-held capital, while a third with eight captives took off...Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe
Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to Europe.In this regard, Energy Minister Prince Abdulaziz Bin Salman met with the Deputy Prime Minister and Minister of Foreign Affairs of Netherlands Wopke Hoekstra in Jeddah.The meeting also touched on...Saudi Crown Prince meets astronauts prior to their space trip
Jeddah, Saudi Arabia - Saudi Crown Prince Mohammed bin Salman bin Abdulaziz on Monday met the Saudi astronauts: Rayana Bernawi, Ali Al-Qarni, Mariam Fardous and Ali Al-Ghamdi before the launch of the kingdom’s scientific mission to the International Space Station (ISS).The Crown Prince welcomed the crew of the scientific mission...Saudi Arabia transfers more Aramco shares to wealth fund in bid to ‘diversify’ economy
Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the latest shares, which have been moved from the world's biggest oil exporter to Sanabil Investments, a firm controlled by the Public Investment Fund (PIF) that is led by Crown Prince...Houthi rebels and Yemen government complete prisoner exchange
Sanaa, Yemen-- Yemeni rebels and government forces freed scores of prisoners Sunday on the last of a three day exchange of nearly 900 detainees, boosting hopes of ending their protracted civil war.Planes carrying detainees took off at the same time from the Houthi rebel-held capital of Sanaa and the government-controlled northern...Syrian foreign minister visits Algeria to boost ties
Algiers, Algeria-- Syrian Foreign Minister Faisal Mekdad arrived in Algeria on Saturday, Algerian state radio reported late on Friday, a visit that reinforces Damascus' openness to the Arab world after it was isolated for more than a decade.The Algerian foreign minister, Ahmed Ataf, received the visiting minister, state radio said.It...GCC data center market to reach $5.5bn by 2028
Major cloud service providers such as Microsoft, Tencent Cloud, Oracle, Amazon Web Services, and Alibaba Cloud are establishing local cloud regions.Saudi plane hit by gunfire in Sudan unrest, says airline
A passenger plane preparing to take off from Sudan for Saudi Arabia came under fire as deadly fighting rocked Khartoum, the kingdom's flag carrier said. The Airbus A330 bound for Saudi Arabia "was exposed to gunfire damage... with guests and crew on board" ahead of its scheduled departure to Riyadh,...Saudis among scores of Yemen war prisoners freed on day two of swap
The first flight of the day took off from the southern Saudi city of Abha before 9:00 am (0600 GMT), headed for Yemen's Houthi-held capital Sanaa with 120 Houthi rebel prisoners, ICRC public affairs and media adviser Jessica Moussan said. It was followed by a flight from Sanaa to Riyadh...Jeddah meeting: Call for Arab role in resolving Syrian crisis, easing Asad’s isolation
Syria was suspended from the Arab League in 2011 over Assad's brutal crackdown of pro-democracy protests. But on Wednesday, in the latest sign of an easing in tensions with Damascus, Syrian Foreign Minister Faisal Mekdad arrived in Jeddah, the first such visit since the war began.Arab nations gather to discuss ending Syria’s long isolation
Arab countries gathered in Jeddah on Friday to discuss ending Syria's long spell in the diplomatic wilderness as regional relations shift following Saudi Arabia and Iran's decision to resume ties.Yemen prisoner swap starts as truce talks set for second round
The first plane departed Sanaa, the rebel-held capital, for government-controlled Aden hours after a Saudi delegation departed without a fresh truce but with plans to meet again. Both initiatives come a month after Gulf heavyweights Saudi Arabia and Iran, who back opposing sides in the Yemeni conflict, agreed to re-establish...Saudi inflation eases to 2.7% in March: official data
Riyadh, Saudi Arabia - Saudi Arabia's annual inflation rate dropped to 2.7 percent in March from 3 percent in February, as per government data. The decrease was mainly driven by a rise in housing rents. Housing, water, electricity, gas, and other fuels rose by 7.4 percent from the previous year, with...Saudi team leaves Yemen but truce talks to continue
Houthi political leader Mohamed Ali al-Houthi said the talks were conducted in a "positive atmosphere", with plans for another round. On Saturday, before the Saudi visit, a Yemeni government source said the Saudis and Houthis had agreed in principle on a six-month truce to pave the way for three months...Saudization, progress help KSA reduce unemployment
Since the launch of Vision 2030, the kingdom's unemployment rate has notably dropped due to economic development, job localization, and greater women participation in labor market.Syria’s return to Arab fold: Shifting Mideast diplomacy takes center stage in Jeddah talks today
Friday's nine-nation talks in Jeddah, the Red Sea gateway to Mecca, come after Syria's foreign minister arrived on a previously unannounced visit - the first since the outbreak of the country's civil war in 2011.Arab meet: Middle East peace, ending Syria isolation key issues
Friday's nine-nation talks in Jeddah come after Syria's foreign minister arrived on a previously unannounced visit -- the first since the outbreak of the country's civil war in 2011. It was one in a flurry of events that were nearly unthinkable before Saudi Arabia and Iran announced to restore ties.Qatar, Bahrain to restore ties as Middle East’s push for peace gains pace
In 2017, Bahrain joined Saudi Arabia, the United Arab Emirates and Egypt in imposing a diplomatic blockade on Qatar. The countries' rivalry goes back even further, however, and Bahrain is the last to renew ties. Agreement on the reconciliation was reached in talks at the Gulf Cooperation Council headquarters in...Historic talks: Syrian and Saudi ministers discuss steps to resolve ongoing crisis in Syria
It's raining peace in the Arab world. Saudi Arabia has taken lead in normalizing ties with countries such as Turkey, Iran and Syria in the past few months.Investment in rose market in Saudi Arabia’s Taif reaches $17m
Dubai, UAE -- The ongoing Taif rose season in Saudi Arabia, which starts at the beginning of March and last for 45 days, fills the city with fragrance and the bright-colored flowers attract rose lovers and perfume makers from the kingdom and abroad.The visitors take part in the activities of...Saudi Crown Prince receives US NSA call amid advancing Saudi-Iran detente
The two leaders talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere.9 Arab nations to discuss Syria ties at Saudi Arabia meet on Friday
Syria's President Bashar al-Assad, diplomatically isolated since the start of the Syrian war in 2011, has visited the UAE and Oman over the past two months. An Arab League summit is expected to be held in Riyadh in May.Saudi Arabia’s Infath to hold 11 more public auctions in April
Riyadh, Saudi Arabia - Saudi Arabia's Attribution and Liquidation Center (Infath) will hold 11 public auctions, both physical and online, between April 11 and April 30, 2023.This includes sale and liquidation of 136 various properties, ranging from residential, commercial, agricultural and industrial, located in 10 different regions in the Kingdom.Auctions...Yemen prisoner swap to start Thursday as peace hopes rise
Nearly 900 prisoners, most of whom were fighting with Houthi rebels, will be flown between Yemen and Saudi Arabia, which leads the military coalition fighting on behalf of the ousted government, the official said on Tuesday.Saudi Amiantit Q1 profit $0.5m
The net profit was down 78% compared to the previous quarter.Saudi envoy to Yemen travels to Houthi-held capital to ‘stabilize truce’
The Saudi ambassador's visit seeks to support the prisoner exchange and also to explore venues of dialogue to reach "a sustainable, comprehensive political solution."4th batch of Saudi oil derivatives grant arrives in Aden
Aden, Yemen - The fourth batch of the Saudi Oil Derivatives Grant, consisting of 150,000 metric tons of diesel and 100,000 metric tons of mazut, has arrived at the oil port in Aden. This initiative is part of Saudi Arabia's ongoing efforts to support the Yemeni people, in response to a...Saudi Arabia 60 percent self-sufficient in mango production
Dubai, UAE – Saudi Arabia has achieved 60 percent self-sufficiency in the production of mangoes in the kingdom, producing more than 88000 tons of mangoes on more than 6880 hectares of land, the Ministry of Environment, Water and Agriculture said.This comes at a time when the Ministry is working through...Saudi delegation arrives in Yemen for peace talks with Houthis
The delegation's arrival comes roughly a month after China helped broker a surprise rapprochement between Saudi Arabia and Iran, fuelling hopes for progress on ending the Yemen conflict that has claimed hundreds of thousands of lives. Omani mediators arrived in the Yemeni capital, Sanaa, on Saturday.Iran officials to visit Saudi Arabia on April 14 ahead of reopening diplomatic missions
Iran's foreign ministry said a delegation will visit Saudi Arabia by April 14 to pave the way for reopening its diplomatic missions there following a similar move by Riyadh. The announcement comes a day after a Saudi delegation arrived in Tehran and follows a historic meeting between the two Gulf...UAE, Saudi Arabia lead GCC in job outsourcing
The latest developments are generating substantial growth opportunities for both local and international service providers in the outsourcing market, a report points out.Saudi Arabian delegation arrives in Iran to cement diplomatic ties
Saturday's visit is part of "implementing the tripartite agreement" reached on March 10 between the two regional powers, brokered by China, to restore relations ruptured in 2016, the Saudi foreign ministry said. The two longtime Middle East rivals have now pledged to work together.Omani group in Yemen to discuss Saudi-Houthi peace deal
Nearly a decade of war in Yemen has claimed hundreds of thousands of lives, both directly and indirectly, and triggered what the United Nations has called the world's worst humanitarian crisis. The Huthis seized the capital Sanaa in 2014, triggering the conflict with the government backed for eight years by...Four Saudi cities find top slots on IMD Smart City Index for 2023
Riyadh, Saudi Arabia--Four cities in Saudi Arabia were placed in the IMD Smart City Index for 2023. According to the index, released by the International Institute for Management Development (IMD), the Saudi capital city of Riyadh maintained its position as the third smartest Arab city.Makkah entered in the index for...SDF signs $240m loan pact for Pakistan hydropower project
Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand Multipurpose Dam Project, an 800MW hydropower complex that will contribute to Pakistan’s energy security, increase sustainable water supply for agriculture and human consumption and improve resilience to floods.The agreement was...Iran and Saudi Arabia: From proxy wars to partnership
The two regional powers have cut ties twice since the 1987 crackdown on protesting Iranian pilgrims in Makkah. They have now pledged to work together for regional stability.Iran, KSA agree to resume flights and bilateral visits
Iranian Foreign Minister Hossein Amir-Abdollahian and his Saudi counterpart Prince Faisal bin Farhan have pledged to reopen diplomatic representations within two months.Smart drive: Saudi Arabia aims to include 15% autonomous cars in public transportation by 2030
Smart mobility solutions like self-driving cars, shared mobility, and adaptive traffic lights are set to transform Saudi cities, which are focusing more on autonomous technologies.Fitch upgrades Saudi Arabia’s rating to A+ with Stable Outlook
Dubai, UAE -- Fitch Ratings has recently upgraded its Saudi Arabia’s rating to 'A+' with a Stable Outlook.The agency indicated in its report that this rating upgrade reflects the kingdom's strong fiscal and external balance sheets with large sovereign net foreign assets compared to ‘AA’ median and debt/GDP half of...Iran welcomes US decision to spur peace process in Yemen
TEHRAN, IRAN - Iran on Wednesday welcomed a US call to help end the long-running conflict in Yemen by backing a peace process, one year after a United Nations-brokered truce dramatically reduced fighting.Diplomatic efforts to resolve the conflict have multiplied since the Yemeni government's main foreign backer Saudi Arabia signed a Chinese-brokered...