Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.

RIYADH, SAUDI ARABIA - The number of Saudi universities in the Times Classification of Specializations increased to 21 Saudi universities, compared to six universities in 2019, as per the latest edition of the ranking for the year 2023. Saudi universities are distinguished in 10 major disciplines out of the 11...

It said profit was driven by multi-sector investments.

Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.

Under its recently announced Experts Program, the Saudi Ministry of Culture has provided an intensive leadership training course for Man and The Biosphere (MAB), a UNESCO program.

Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon Market auction.

Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its spending to boost the development of competitive and innovative sectors and industries in Saudi Arabia. The Local Content Growth Program, which was announced at the Sixth Edition of Future Investment...

Prince Faisal bin Farhan hailed the "historical and solid relationship" between the major oil exporter and Beijing after talks with his Chinese counterpart Wang Yi."Our meeting today comes at an important time, as it precedes the expected visit of the Chinese president to the kingdom," Prince Faisal told the Al...

Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim at an event in Riyadh.

Riyadh, Saudi Arabia— Aramco will launch a $1.5 billion sustainability fund to invest in stable and inclusive energy transition technology. According to its CEO Amin Nasser, the fund will be managed by the company's venture capital arm Aramco Ventures. The CEO said that the fund will be “among the biggest...

With an estimated 209 million people making purchases online at the height of the pandemic, e-commerce in the MENA area has grown faster than anywhere else.

The efforts are intended to jumpstart the nascent tourism sector in the once closed-off kingdom, which only began issuing tourist visas in September 2019 -- just months before the coronavirus pandemic decimated the industry globally.

The five companies, together with Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary that was launched in August 2022, will invest up to $24 billion in opportunities across various key sectors in each market.

Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in a better status than many other countries, says Al-Jadaan at an FII event.

Tadawul is also developing a market marker for the bourse.

"People are depleting their emergency stocks ... its profound purpose was to mitigate the shortage of supply," says Prince Abdulaziz at an FII event in Riyadh.

Saudi Arabia is engaged with many European governments with regards to the current energy crisis, says Prince Abdulaziz bin Salmanat at FII Forum in Riyadh

ALC is one of the largest meat producers in Australia.

Sales of Al Barakah silan in Israel have tripled to 3,000 tons over the past two years, making Israel the fifth largest market for its date syrup, says a top company executive.

The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.

The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in the Middle East and North Africa.

Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the top 40 ranking have joined Liv Golf.

Saudi Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs Prince Mohammed bin Salman bin Abdulaziz announced the launch of the Global Supply Chain Resilience Initiative. GSCRI aims to make Saudi Arabia a location of choice for leading global industrial companies looking to improve business...

The visit is expected to last a few hours on Nov 14, and the Saudi Crown Prince and the Indian PM Narendra Modi are expected to depart for Bali to attend the G-20 summit, The Hindu reported and added that India’s foreign minister S Jaishankar had conveyed Modi’s invitation to...

The Future Investment Initiative (FII) was launched in 2017 as an economic coming-out party for the world's largest crude exporter, which is trying to diversify away from oil.

Riyadh, Saudi Arabia— Saudi Media Minister Majid Al-Qasabi has called for developing a trust-based road map with clear mechanisms to advance joint Islamic action. The minister was speaking at the 12th session of the Islamic Conference of Information Ministers of the Organization of Islamic Cooperation in Istanbul on Saturday. He...

Riyadh, Saudi Arabia—The GCC has unveiled the Gulf Center for Disease Prevention and Control in Riyadh to enable the prevention of diseases, mitigate public health emergencies, and promote healthy communities across the Gulf. The GCC health ministers and GCC Secretary-General Dr. Nayef Al-Hajraf were present at the event. The ministers...

Traditionally, GCC trade was focused on the West. However, now it is moving to the East. This eastward shift is not too surprising given the continuing travails of many developed Western economies. With the sluggish recovery from the financial crisis in the EU and the US, Gulf economies have had...

The fear of the global organizations such as International Energy Agency that the OPEC+ decision would increase energy security risks worldwide, leading to higher prices and volatility, and potentially ending up being the tipping point for a global economy was proved wrong, he adds.

The conflict erupted in 2014 when the Huthis seized the capital Sanaa, prompting the Saudi-led coalition to intervene the following year to prop up the internationally recognised government. Hundreds of thousands of people have died as a direct or indirect result of the conflict, according to the United Nations, which...

The total revenue in Q3 ended Sept reached AED156.11 million

Riyadh, Saudi Arabia--Aramco said on Thursday it has launched Taleed program to accelerate the growth of Small and Medium Enterprises (SMEs) in Saudi Arabia, boost their contribution to economic development and support job creation. In a statement, Aramco said the program targets sustainable SME growth across multiple sectors through a...

Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial repurchase of US dollar-denominated bonds due in the years 2023, 2025 and 2026. The Center said the process is part of the kingdom’s plan in the effective management of the...

The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment.

Beyond oil and gas, Gulf companies have made some strategic investments in sectors with strong potential for growth, including fintech, e-commerce and logistics. For example, in 2020, Saudi fintech startup Tamara established operations in Vietnam, and the UAE's B2B e-commerce provider Distichain set up a base in Singapore.

Nearly 32 percent of respondents to a TRENDS poll saw metaverse as a good investment for GCC businesses, as two biggest economies in the region invest heavily in this sector.

The yards will more than triple Saudi offshore fabrication capacity.

The announcement comes after the IMF affirmed that the Kingdom's economic prospects are positive in the short and medium term.

Rallying behind Saudi Arabia, several Arab states have voiced their support for Saudi Arabia in the face of harsh criticism from the US over the kingdom’s decision to cut oil output. From the UAE to Oman, Algeria to Bahrain, the governments have condemned what they termed as the politicizing of...

The organizer said he did not want the gathering "to become a political platform". The decision not to invite American officials, a departure from previous years, comes as tensions rise between longtime partners Washington and Riyadh over the Saudi-led OPEC+ cartel's recent vote to cut oil production.

Riyadh, Saudi Arabia---Saudi Arabia will target 11 new decisions for Emiratisation program in project management, procurement, food and drug sectors before the end of 2022, said Ahmed bin Sulaiman Al-Rajhi, the Minister of Human Resources and Social Development. During his meeting with businessmen and women at the Chamber of Commerce...

The forum targets GCC entrepreneurs and business incubators and accelerators and financing institutions in GCC.

US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations, adding that the US leader had "no plans" to meet the crown prince at a November G20 summit in Indonesia. Russell Lucas, a Middle East expert at Michigan State University,...

The stock rose after the transfer of its subsidiary to the PIF.

Stormy US-Saudi relations have seen new strain over Riyadh's recent support for oil production cuts, with Biden warning of unspecified "consequences." The move last week by OPEC+ -- composed of the Riyadh-led OPEC cartel and a group of 10 exporters headed by Russia -- would reduce global output by up...

Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said Sunday that the kingdom aims to establish a world-class business system in cooperation with South Africa, which he said was the most suited partner for achieving these goals. In his...

The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint investment fund between the two nations.

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according to a statement. Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses, according to the Ministry’s National Industries...

The Saudi developer will offer 20% of its shares on Nomu.