Dubai, UAE - Saudi Arabia and Iran are taking more steps to consolidate their ties following the rapprochement between them brokered by China. The Iranian government on Sunday proposed to Saudi Arabia three locations for a foreign minister’s  level meeting. Addressing a news conference in Tehran,  Iranian Foreign Minister Hossein Amirabdollahian...

Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade Fair in Riyadh.Saudi Minister of Commerce, who is also Chairman of the Board of Directors of the General Authority for Foreign Trade, Dr. Majid bin Abdullah Al-Qasabi, met here yesterday...

The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the electronic games sector.

Abu Dhabi, which normalized relations with Assad's government in 2018, has led aid efforts in the aftermath of the February 6 earthquake that struck southeastern Turkey and northern Syria, killing tens of thousands. A diplomatic momentum generated by aid efforts in the quake's aftermath could bolster Damascus's relations with Middle...

Iranian President Ebrahim Raisi has "welcomed" an invitation from Saudi Arabia's King Salman to visit the kingdom following the reconciliation between the two countries, an Iranian official said. "In a letter to President Raisi... the King of Saudi Arabia welcomed the deal between the two countries (and) invited him to...

The company posted a 23% increase in revenue.

Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion during the last five years.According to Yazid Al-Dumaiji, the Capital Market Authority’s (CMA) Undersecretary for Strategic and International Affairs, the exchange takes the ninth place among the world’s stock markets...

Saudi Arabia and US tech firms have numerous partnerships and investments, with the PIF investing over US$7bn in American companies and banks, with key focus on tech sector.

Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising its long and short-term foreign and local currency sovereign credit ratings to 'A/A-1' with a stable outlook, the Saudi Press Agency (SPA) reported Friday.Moody's, a rival ratings agency, also stated that Saudi Arabia's plans will support it despite fluctuating oil prices and a global shift to renewable energy. Moody's also has changed the kingdom's outlook ...

He calls for the creation of clear and common executive mechanisms to crystallize the Arab countries' position and examine the extent to which these platforms must comply with publishing controls within the countries. "Unified measures should be taken if these platforms violate any of these controls," he adds.

Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business reforms boost investor confidence in the region.

"I think large banks are properly supervised and therefore the risk that some people see, I don't see," Finance Minister Mohammed al-Jadaan said, a day after Credit Suisse's shares closed 24% lower after Saudi National Bank, its main shareholder, said it would not raise its stake due to regulatory constraints.

United Nations, United States--The surprise rapprochement between Saudi Arabia and Iran should offer momentum toward peace by the warring parties in Yemen after eight years of conflict, UN officials said Wednesday.The UN Security Council on Wednesday discussed the impact on Yemen of the shock Chinese-led announcement on March 10 that diplomatic...

While many women still believe they are not adequately compensated, men, in contrast, have a different view, with many saying women are paid the same as men.

"The country continues to grow in various sectors such as the energy sector, including oil, gas, and renewable energy, which contribute significantly to the growth and prosperity of the economy. Furthermore, significant opportunities will be available in all of the Kingdom's economic sectors," he adds.

Riyadh, Saudi Arabia -- Saudi Arabia's new national airline plans more aircraft orders as it prepares to operate its first flights in early 2025, its CEO told AFP on Wednesday.The carrier, Riyadh Air, was officially unveiled on Sunday, and on Tuesday announced an agreement to purchase 39 Boeing Dreamliners, with options...

The initial conversation between Xi and Mohammed bin Salman took place during bilateral talks at a summit in Riyadh in December, an official told AFP. Several other meetings also laid the groundwork for last week's talks in Beijing, the official said.

Riyadh, Saudi Arabia -- As uncertainty in the global economy is limiting clarity about the outlook for oil markets, the OPEC+ should stick to the production pact agreed last October, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman has said.SPA reported that Prince Salman said that sticking to the October...

"Dear Mr President, I am very glad to see you in Moscow. Thank you for accepting our invitation," Putin told Assad at the start of their meeting broadcast by state TV. "We are in constant contact and our relations are developing."

Iran has been under renewed US sanctions since then president Donald Trump abandoned a landmark nuclear agreement between Tehran and major powers in 2018. Saudi Arabia, a longtime US ally, has said it supports the sanctions, which target key areas, including oil.

The Saudi utility company will pay $774m cash dividend.

Western fashion was once largely taboo in Saudi Arabia, but with the kingdom undergoing great social changes, a designer is welcomed home to mentor its Fashion Commission.

The Kingdom is analyzing the new work structure to enhance job creation and make the labor market more appealing to domestic and foreign investors, reports suggest.

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has announced three key initiatives aimed at supporting and enabling the private sector.These initiatives include the Local Content Growth Program, called MUSAHAMA, which seeks to increase the share of local content spend in PIF's domestic portfolio...

Riyadh, Saudi Arabia--Saudi Arabia’s banking sector grew in 2022 on the back of potent revenue growth and is set for further gains, according to the Boston Consulting Group.  Analysis by the US-based firm reported the Kingdom’s banking profits after taxes have grown an average of 7.9 percent per year since 2016...

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed multiple memorandum of understandings aimed at supporting SMEs, along with enabling entrepreneurs to enter the field with more confidence and emphasis.The two countries also looked at ways to enhance cooperation in the fields of entrepreneurship and innovation, as the Kingdom’s Minister...

The expansion of infrastructure investment and medical insurance coverage will continue to drive premiums in 2023, albeit at a slower pace than in 2022, reports suggest.

Dubai, UAE -- Saudi ports handled 7.76 percent more containers in Feb 2023, compared to the same period last year, due to expansion and development works that increased container handling capacities and enhanced operational efficiency, the kingdom's General Authority of Ports (Mawani) said Monday.The ports handled 622,837 TEUs in Feb...

Iran said it would welcome restoring ties with Bahrain to end seven years of ruptured relations, following the China-brokered deal to heal rifts between Tehran and Riyadh. "The resumption of relations between Iran and Saudi Arabia shows the effectiveness of the diplomatic solution to resolve misunderstandings," said Iran's foreign ministry...

The Gulf kingdom is pursuing ambitious aviation goals as part of Crown Prince Mohammed bin Salman's wide-ranging "Vision 2030" reform agenda, including more than tripling annual traffic to 330 million passengers by the end of the decade. It also wants to move up to five million tons of cargo each...

Riyadh, Saudi Arabia -- The Small and Medium Enterprises Bank of Saudi Arabia's National Development Fund said Sunday it has allocated SAR 10.5 billion ($2.79 billion) to finance programs and products for the SME sector.The Bank's direct and indirect lending programs, financing guarantee programs and investment programs will be financed...

Abu Dhabi, UAE--Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation has made a phone call to Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, during which he expressed the UAE's welcome of the Riyadh and Tehran agreement...

Surprise Saudi-Iran detente, midwifed by China, has gone against the drift of Austin’s visit to the Middle East which was largely premised on an abiding antagonism between the two countries.

Negotiations overseen in Switzerland by the UN and the International Committee of the Red Cross will see Yemen's warring parties holding talks in Geneva starting Saturday to discuss a prisoner exchange, according to rebels and government officials. Hostilities have largely stopped since a UN-brokered ceasefire took effect in April last...

The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview.

Riyadh cut ties with Tehran after Iranian protesters attacked Saudi diplomatic missions in the Islamic republic in 2016 following the Saudi execution of Shiite cleric Nimr al-Nimr. The two countries also agreed to activate the security cooperation agreement signed in 2001.

Riyadh, Saudi Arabia -- A meeting was held in Riyadh Thursday to prepare for holding the third round of free trade agreement negotiations between the Gulf Cooperation Council (GCC) for Arab States and the United Kingdom from March 12–16 at the GCC General Secretariat in Riyadh.Fareed bin Saeed Al-Asaly, the...

Dubai, UAE -- Saudi energy giant Aramco broke ground for its 26.25-billion-riyal ($7 billion) Shaheen Petrochemical Project, its biggest in South Korea.The groundbreaking was carried out through Aramco's affiliate S-Oil in South Korea's industrial city of Ulsan. Scheduled for completion by 2026, the Shaheen project is aimed at converting crude...

Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index increased by 6.8 percent in Jan 2023, compared to Jan 2022, mainly due to the increase in mining, quarrying manufacturing activities.A monthly bulletin by the General Authority for Statistics said the mining and quarrying activity increased by 3 percent year on...

The launch is part of a year-round program that will allow women filmmakers to collaborate with leading industry professionals and access funds to create and share their stories.

The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%, and manufacturing other than oil refining 8.6%.

Saudi Arabia aims to gain a leadership role in space.

As relations thaw after more than a decade of isolation, Saudi Arabia has suggested that closer cooperation with Syria may open the road for its admission back into the Arab League, albeit it is still too early to debate this option.On Tuesday, Foreign Minister Prince Faisal bin Farhan Al Saud...

Dubai, UAE--Agility Logistics Parks (ALP) today announced the launch of data center campus sites in Saudi Arabia, Kuwait, Egypt and Ghana.The sites are being readied at ultra-modern ALP warehousing complexes in fast-growing markets and mega-cities that are looking to add hyperscale data center capacity and resolve data latency, security and...

The investment bank is working on five diverse sectoral IPOs in the GCC market which will be launched between the second and fourth quarters of the year.

Ahmed Al Khateeb, the Saudi tourism minister and board chairman of the Saudi Fund for Development, signed an agreement with Turkish central bank governor Sahap Kavcioglu "to make a significant $5 billion deposit", the Saudi government said in a statement. "This deposit is a testament to the close cooperation and...

Young women in the MENA region are more likely to be in the workforce, while the GCC countries — particularly the UAE, Saudi Arabia, and Qatar — have seen advances in labor force participation, according to a PwC report published in December last year. However, they are yet to gain...

Pact is likely to help enhance Kingdom's non-oil exports.

RIYADH, SAUDI ARABIA - Saudi  Justice Minister Dr. Walid Al-Samaani inaugurated the International Conference on Justice here on Sunday.Several ministers, thought leaders and legal experts from around the world were present at the event.Over 4,000 persons and 50 international speakers took part in the justice conference.  Al-Samaani, with the participation...

Riyadh, Saudi Arabia-- Saudi Arabia ranked first globally on the Global Knowledge Index 2022 in the percentage of students enrolled in post-secondary non-tertiary education (ISCED 4), in technical and vocational programs.The Index is issued by Mohammed bin Rashid Al Maktoum Knowledge Foundation in collaboration with United Nations Development Program and...