Moscow---The Kremlin said Thursday that an OPEC+ decision to sharply cut production was designed to stabilize global oil markets, after Washington said the move was a concession to Moscow. "The decisions that were taken were aimed at stabilising oil markets," Kremlin spokesman Dmitry Peskov said. He said it was proof...

Wearing a wide-brim hat and a backpack to which Abdullah Alsulmi'd affixed Saudi and Qatari flags, he said: "I consider myself like a Qatari who is very interested in this World Cup and its success."

In 2021, Dubai hosted qualifying slaloms for the Beijing Winter Olympics in the refrigerated dome of a huge shopping mall with the temperature 30 Celsius (86 Fahrenheit) outside. Saudi Arabia has been betting heavily on sport, hosting Formula One, the Dakar Rally, a cycling tour, boxing title fights and the...

The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two million barrels per day from November at a meeting in Vienna, the group said in a statement. It is the biggest cut since the height of the Covid pandemic in...

It becomes first Saudi firm to enter plasma products' field in GCC region.

The PIF-backed firm buys 34% stake in an Egyptian firm.

Although the PMI in August was 57.7, the kingdom has maintained steady growth for the 25th consecutive month.

The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.

Riyadh, Saudi Arabia--Saudi Arabia's General Authority of Ports (Mawani) has signed a contract with Globe Group, a marine services company, to establish an integrated logistics zone and a re-export zone in Jeddah Islamic Port on an area of ​​135,000 square meters. Mawani said the logistics zone will enhance the port’s...

"The deserts and mountains of Saudi Arabia will soon be a playground for winter sports," the Olympic Council of Asia (OCA) said in a statement on the decision made during its general assembly meeting in Phnom Penh. The Saudi bid was "unanimously approved", the statement said, noting that the megacity...

The agreement was signed between the President of the Civil Aviation Authority of Saudi Arabia Abdulaziz bin Abdullah Al-Dialej and his counterpart the President of Civil Aviation of China.

The fund has hired a large group of banks including Citi and JPMorgan to arrange a debut issuance of multi-tranche US dollar-denominated green bonds.

At the end of her two-day visit to Saudi Arabia, she hailed the kingdom's strong “economic performance and impressive progress in implementing their Vision 2030 reform agenda, notably the doubling of the share of women in the labor force in just four years”.

Its value is $2.8trn in the first nine months of the year.

Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC countries.

IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year

With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.

The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy production.

Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) and the Saudi Information Exchange Company (Tabadul) signed an MoU to develop new port community management systems. The MoU aims to achieve the expansion of services provided in Saudi ports and doubling their number from 46 to 150 besides. It also aims at enabling...

GCC markets had a mixed week as Saudi stocks powered by the banking and commodities retail sectors posted gains, while the UAE stocks tanked, ending the weeks with losses.

A day before the UN-mediated truce is to expire, Houthi rebels have warned that the ceasefire in Yemen is at "a dead end". The temporary ceasefire that took effect in April has allowed for some humanitarian measures as the warring sides have by and large adhered to the truce.

The kingdom will need an investment of $35.6bn for nearly 20,000 new hospital beds by 2030, according to Colliers. High land costs can be an impediment to realizing the goal.

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organization said.

Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the kingdom's Minister of Finance. The top oil exporter of the world is hoping to see its GDP grow by 8 percent, and it expects inflation to be around 2.6 percent.

Saudi Arabia is expected to generate an annual income of $32 billion from recycling waste by 2035, according to the minister of environment, water and agriculture.

The Saudi utility now boasts of $67bn investment portfolio.

A TRENDS poll on Twitter revealed that 43.9 percent of voters preferred real estate, followed by technology at 37.4 percent.

The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership.

Major events such as Qatar World Cup 2022, Formula 1 Abu Dhabi Grand Prix, etc. will give Gulf tourism a boost in the last quarter of this year, according to a latest report.

The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in 2023. However, Brent oil prices may fall to $75/b by 2025 and $70/b by 2027, says a report.

The CMA has approved an application from Power and Water Utility Co. for Jubail and Yanbu to register and sell 73.09 million shares, or 29.24 percent of equity, on the Saudi Exchange.

Saudi Arabia has for years sought to quell speculation over the health of the 86-year-old king, who has ruled the world's top oil exporter since 2015. King Salman has been hospitalised twice this year, most recently a one-week stay in May that involved tests including a colonoscopy, according to state...

Riyadh, Saudi Arabia - Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said more cooperation is a must for sustainable future in tourism in G20 nations. It includes facing issues spawned by the Covid pandemic, taking collective action for renaissance of the tourism sector and partnerships between private and public...

According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022.

Saudi Arabia's unexpected role in brokering the release of foreign fighters detained in Ukraine was just the latest example of how the kingdom is seeking to bolster its international standing, diplomats and analysts say.  It also enables Riyadh to argue that preserving ties with Moscow -– a source of tension...

It will collaborate with Invest Seoul Agency for the venture.

The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use solar energy.

The Saudi tech firm has set the price at $19 per share.

A Moroccan prisoner of war released as part of an exchange between Moscow and Kyiv said he wanted to draw attention to the "struggle" of Ukraine as he returned home.

As part of the deal, the UAE will provide "an LNG cargo for delivery in late 2022, to be used in the commissioning of Germany’s floating LNG import terminal at Brunsbuettel", a North Sea port. UAE state oil company ADNOC completed its first ever direct diesel delivery to Germany earlier...

Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the fourth phase of the projects of the National Renewable Energy Program. Saudi Press Agency said that Saudi Energy Procurement Company (the main buyer) launched the projects for competition. The financial...

The company has set a price range of $18 to $21 per share.

Out of 150,000 marriages registered in 2020 in Saudi Arabia, some 4,500 were unions involving a Saudi and a foreigner, which require a special permit, according to the Saudi statistics authority.

German Chancellor Olaf Scholz arrived in Saudi Arabia at the start of a two-day Gulf tour, in the hope of sealing new energy deals with the fossil fuel exporters. Scholz, accompanied by a sizeable industry delegation, was received at Jeddah airport by Mecca region's governor Prince Khalid bin Faisal Al...

Chairman of the Board of Directors of General Entertainment Authority (GEA) on September 17 launched the nine-day celebrations under the slogan, ‘This is our home’.

The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion, while re-exports were valued at AED471.7 billion, and imports at AED227 billion.

Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at Boston University in the United States.

The sources told Reuters that the deal was signed privately earlier this year with Houston’s Axiom Space.

The PUBG Mobile tournament was part of Gamers8, a summer festival spotlighting Saudi Arabia's emergence as a global eSports dynamo -- one that officials hope can compete with powerhouses like China and South Korea. Much like with Formula One and professional golf, the world's biggest oil exporter has in recent...

It aims to set up a fleet of 50 aircraft in the kingdom.