Madrid, Spain---Saudi Arabia has joined the International Olive Council (IOC), a UN affiliated intergovernmental organization aimed at developing and expanding olives and olive oil trade. The Council also encourages the member countries to develop and modernize commercial standards for products and improve their quality, and enhance international technical cooperation in...

Major oil-producing countries led by Saudi Arabia and Russia agreed to maintain their current output levels. Representatives of 13 members of the Organization of the Petroleum Exporting Countries led by Riyadh, and their 10 allies headed by Moscow, decided to stick to a production cut of two million barrels per...

Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from its Initial Public Offering (IPO), the company said. The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares,...

Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including...

With data doubling in size every two years, effective info processing, analysis tools and storage technologies are required along with a defined digital strategy, says an expert.

Diverse line-up of movies features local stories from new and established storytellers from Saudi Arabia, Egypt, Lebanon and UAE.

Propelled by First Abu Dhabi Bank, the Abu Dhabi index shot up 1.5 percent, reversing losses of three consecutive days even as Saudi index shed it gains on concerns about decline in crude oil prices.

Riyadh, Saudi Arabia— Saudi Arabia has submitted its bid to host the AFC Women’s Asian Cup 2026, a key moment in its sporting history. A football nation, with a deep-rooted passion for the game, Saudi Arabia’s move to bid for the upcoming AFC Women’s Asian Cup builds on its expression...

RIYADH, SAUDI ARABIA - Carbon credits could make a significant contribution to achieving net zero by 2050, but only if participants address issues over limited supply and integrity, the Secretary General of the International Energy Forum (IEF) told a conference. Trade in voluntary carbon credits could grow 100-fold by 2050...

The agreement was signed in presence of Saudi Defence Minister Prince Khalid bin Salman and Spanish Minister of Industry, Trade and Tourism María Reyes Maroto.

Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative for taxpayers

Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister

As part of the transaction, first announced in January 2022, the company acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk

The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine.

RIYADH, SAUDI ARABIA - Fifty deals and agreements are expected to be signed in the World Travel and Tourism Council (WTTC) Global Summit in Riyadh, Saudi Minister of Tourism, Ahmed Al Khateeb said. The minister evaluated the deals to be worth $50 billion, local media reports said. The agreements include...

Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.

The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively.

Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC Splendida, which arrived from Jeddah Islamic Port, marking the maiden cruise call for the current season that will run until May 2023. To celebrate the start of the new season,...

MENA startups had begun the year with a deluge of funding from investors, but toward the year end a dark cloud hovers over new businesses as global crises dip the enthusiasm.

The world's largest producer of oil and world's most profitable company marginally overtook Apple with a market capitalization in excess of $2.4 trillion in May 2022.

RIYADH, SAUDI ARABIA - Saudi Minister of Environment, Water and Agriculture, Engineer Abdul Rahman bin Abdul Mohsen Al-Fadhli inaugurated Sunday the Aquatic Animal Diseases Network in the Middle East in the Kingdom. The inauguration took place in the presence of the Director General of the World Organization for Animal Health...

Doha, Qatar— Mexico coach Tata Martino said he was expecting a shoot-out with Saudi Arabia in their final World Cup Group C clash after defeat by Argentina on Saturday. Lionel Messi and Enzo Fernandez's strikes helped the Albiceleste win 2-0 at the Lusail Stadium, leaving the Mexicans bottom of the group...

DOHA, QATAR - Robert Lewandowski scored the first World Cup goal of his prolific career on Saturday when he netted in Poland's 2-0 win over Saudi Arabia, bursting their bubble following the team's giant-killing act against Argentina. Barcelona forward Lewandowski was almost overcome with emotion after making sure Poland took...

Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding.

The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge in Covid-19 infections in China, the largest oil importer, will reduce demand.

Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which rely heavily on imports, says a report.

Saudi Arabia would back private bids for Manchester United or Liverpool, its sports minister said, adding the kingdom was keen to host the World Cup. Prince Abdulaziz bin Turki Al-Faisal said the Gulf state could be a new home for Cristiano Ronaldo. He said Saudi Arabia would "definitely support" bids...

Firm said this will help bolster its presence in kingdom.

Riyadh, Saudi Arabia---Heavy rains in the Saudi coastal city of Jeddah on Thursday delayed flights, forced school suspensions and closed the road to Makkah, Islam's holiest city, state media reported. Jeddah, a city of roughly four million people positioned on the Red Sea, is often referred to as the "gateway...

Riyadh, Saudi Arabia---Saudi Arabia has deposited 891 million riyals in subsidy to the beneficiaries of a housing program, Iskan, aimed at raising the percentage of homeownership to 70 percent by 2030 under the kingdom’s Vision 2030 transformation initiatives. The subsidy for the month of November was deposited into the accounts...

Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.

Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass.

Doha, Qatar---Saudi Arabia pulled off one of the greatest upsets in World Cup history on Tuesday, roaring back to beat Lionel Messi's Argentina 2-1 and set the tournament in Qatar alight. Copa America champions Argentina came into the match on a 36-match unbeaten streak and appeared to be on their...

In recent days, Messi has twice trained apart from the rest of the squad but he moved to dispell any concerns amongst Argentines that he might not be fit for Saudi Arabia. Argentina head into the tournament as Copa America holders and unbeaten in 36 matches dating back to 2019....

The "categorical denial" has come after the Wall Street Journal reported on Monday that Saudi Arabia, which co-leads the OPEC+ group along with Russia, and other members were considering an "increase of up to 500,000 barrels a day". The next OPEC+ meeting is scheduled for December 4.

The kingdom has long been obsessed with football, but interest in playing -- not just watching -- has surged in recent years amid a government push to promote physical activity.

Fireworks, cultural performances add to the grand opening ceremony attended by regional leaders, heads of delegations and sports panels and federations, diplomats and fans.

Riyadh, Saudi Arabia - A Saudi real estate firm has partnered with the Trump Organization on a $4 billion golf and real estate development project in neighboring Oman, according to a stock market filing published Sunday. The deal involving the Dar Al Arkan Global Company, a subsidiary of Dar Al...

Riyadh, Saudi Arabia---Saudi Arabia’s General Authority for Ports (Mawani) Sunday announced a new freight service, at the King Abdulaziz Port in Dammam in cooperation with the Saudi International Ports Company. The service connects King Abdulaziz Port with six major regional and international ports: Qingdao, Shanghai, Ningbo, Nansha, Jebel Ali and...

When FIFA announced the deal for direct Israel-Qatar flights on November 10, it claimed that "Palestinian ticket holders and media" would be "able to travel on these chartered flights with no restrictions."

Saudi equities rose on November 13 but the index fell during the rest of the trading days. UAE stocks started on a downward trend but finished the week higher.

The two countries agree to set up Saudi-Thai Coordination Council, vow to enhance investments and cooperation in sectors such as energy and tourism and fight corruption.

Saudi retail tranche remains unchanged at 10 percent.

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) won an award at the ninth edition of the Maritime Standard Awards. The awards is an annual industry event that felicitates top performers in the shipping, ports, and related sectors spanning the Middle East and the Indian Subcontinent. The award crowns...

Saudi officials are putting on 240 weekly flights linking the kingdom to Qatar, up from six normally, and easing overland travel during the tournament, Tourism Minister Ahmed Al Khateeb told AFP last month.

Among the agreements was Saudi investment for South Korean refiner S-OIL's Shaheen project, which would build petrochemical production facilities in South Korea worth $6.7 billion, according to the office of President Yoon Suk-yeol.

The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report.

The two leaders discussed mutual ties, including the agenda of the summit. 

The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting the 17th G20 Summit.

Mohammed bin Salman left Monday for the Group of 20 summit in Bali, Indonesia. The official Saudi Press Agency said the trip would include "a number of Asian countries", though officials have not yet confirmed details of the itinerary.