Aramco-Horse Powertrain deal completed
An agreement for the purchase of 10% equity stake was signed in June 2024.
Saudi crown prince, Jordan king meet amid thaw in ties
Saudi Crown Prince Mohammed bin Salman met with Jordan's King Abdullah in Amman on Tuesday to discuss regional and international issues. The meeting came amid a thaw in relations that in recent years had suffered from divergent views on regional conflicts and unfulfilled pledges of aid. Prince Mohammed’s visit to...Crown Prince’s visit: Egyptian, Saudi firms sign deals worth $7.7 bn
The accords were related to "infrastructure, logistical services, port management, agri-foods, the pharmaceutical industry, fossil fuels and renewable energy, and cybersecurity" and were worth $7.7 billion, Egyptian daily Al-Ahram said.Saudi crude oil exports jump to 147,000 barrels per day in April
Crude oil exports of Saudi Arabia grew 147,000 barrels per day in April to 7.38 million, a level not seen since March 2020 when the Kingdom’s exports were 7.39 million bpd.Saudi Arabia lifts travel ban on Turkey, India, Ethiopia, Vietnam
The decision was based on the findings of the competent health authorities about the epidemiological situation in these countries.GCC countries likely to issue less debt this year
The Gulf region seems to have a better fiscal positions thanks to high oil prices and the recovery of the economies from the Covid-19 related woes.Saudi Arabia lets citizens visit Turkey as bilateral relations improve
At the beginning of the pandemic, Saudi Arabia imposed a rule against all foreign travel, and as of last month 16 countries including Turkey were still off-limits to Saudi citizens.‘Autonomous universities offer advantages for Saudi Arabia’
A publication aims to explore trends and critical factors for future success in an autonomous higher education system in Saudi Arabia.Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA.Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during Saint Petersburg International Economic Forum 2022.Saudi first in Arab world on Nature index for quality scientific research
Saudi Arabia ranked first in the Arab world and 30th globally in the British “Nature” index for evaluating countries, universities and public and private institutions for quality of scientific research in 2022. The kingdom’s ranking comes from the collected data approved by the magazine based on scientific publication in the...Services assist Saudi economy recover, diversify fast
The Kingdom's service sector is expected to grow rapidly once the major Vision 2030 tourism and entertainment projects - Qiddiya, the Red Sea project, NEOM, Al-Ula - are completed.Saudi crown prince likely to visit Egypt, Jordan ahead of Turkey
Saudi Crown Prince Mohammed bin Salman begins a regional tour Monday in Egypt that will also take him to Turkey to bolster regional ties, a Saudi diplomat said. After Cairo, Mohammed bin Salman will travel to Jordan and then on to Turkey. The Saudi government is yet to confirm about...Gulf equities fall, imitating global stock markets
Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off soaring inflation.Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price increases, and other potential health threats, say experts.Biden visit a shot in the arm for Saudi crown prince
As Saudi Arabia's Crown Prince Mohammed bin Salman prepares to mark five years as de facto leader, he is finally arriving on the world stage, getting a boost of sorts with the arrival of US President Joe Biden next month. Biden's trip - after Russia's invasion of Ukraine sent oil...Investments, innovations help MENA smart cities grow
Intelligent transportation system, speedy 5G deployment and heavy investment in AI are pushing region's smart city growth, says Omar Christidis, CEO & Founder of Arabnet.GCC central banks raise interest rates
Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised interest rates, too, to tame soaring inflation.Nana ties up with Google Cloud
The alliance will ensure home delivery in 15 minutes.Biden gambles there’s more to gain by courting Saudis
Making an about-face by deciding to visit Saudi Arabia, US president Joe Biden is betting there is more to gain than lose by meeting Crown Prince Mohammed bin Salman. Biden joins eight decades of US presidents who have all in due time courted the oil-rich kingdom, which has assiduously cultivated...Biden signals US-Saudi thaw with prince meeting on Mideast trip
US President Joe Biden will meet with Saudi Arabian Crown Prince Mohammed bin Salman next month. The White House ended weeks of speculation Tuesday, announcing that Biden will travel to Israel, the Palestinian West Bank, and Saudi Arabia from July 13-16 -- his first trip to the Middle East since taking...Biden to visit Middle East from July 13-16; meet Saudi crown prince
US President Joe Biden will make history next month with a direct flight between Israel and Saudi Arabia where he will meet Crown Prince Mohammed bin Salman. The White House ended weeks of speculation Tuesday, announcing that Biden will travel to Israel, the Palestinian West Bank and Saudi Arabia from...Oil revenues help boost MENA economic growth
Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Find out the country-wise breakup.Saudi Arabia adopts online registration for Hajj to combat scams
Saudi Arabia has required would-be hajj pilgrims from many Western countries to apply for visas via a government portal online, a move intended to crack down on "fake" travel agencies, officials told AFP on Monday. The new system was put in place as the kingdom prepares to welcome 850,000 Muslims...NEOM awards contracts for construction of high-speed transportation tunnels
NEOM has awarded two contracts to two consortiums for the construction of two tunnels with a length of 28 kilometers dedicated to high-speed transportation and freight services in the infrastructure of the “The Line". The first consortium includes FCC Construction SA, Chinese State Construction and Engineering, and a Saudi company,...High taxes on tobacco in MENA weans users off habit
The use of tobacco by people across the world has gone down, and the Middle East has been no exception, where many users have kicked the habit.Visa-free travel to Saudi Arabia for GCC residents
Under the new visa scheme, all GCC residents with a valid resident and work visa issued by the UAE, Bahrain, Kuwait, Oman, and Qataris immigration authorities will be allowed entry into Saudi Arabia for business, tourism, and Umrah purposes, with the exception of Hajj – the annual Islamic pilgrimage.Ladun to list on Nomu
The Saudi firm's IPO was priced at $4.8 per share.Saudi telco to raise capital by 150%
Bonus shares to be granted by capitalizing $7.9 bn from retained earnings.Sudan ship sinks with 15,800 sheep on board
An overladen ship crammed with thousands of sheep capsized Sunday off Sudan's Red Sea coast drowning the animals on board but with all crew surviving, port officials said.Discoveries give Saudi geotourism an edge in region
Aside from fossil discoveries, one of the unique geological phenomena discovered in Saudi Arabia is basalt columns. These one-of-a-kind columns are magnificent and incredibly accurate geometric shapes that erupted from the ground without human intervention. They owe their existence to the molten lava that burst out of the ground in...Saudi Arabia seizes 302,255 Captagon pills at Al-Haditha port
Saudi Arabia has seized a new consignment of banned drugs being brought into the kingdom at Al-Haditha port.Chinese firm bags $974m Madinah tunnel project
Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm, to be built at the cost of $974 million. The project also involves the construction of a pedestrian bridge. Al-Amida road will serve as an alternative to the current ring...Savola Foods buys Egybelg
The Saudi firm plans to invest $91m in Egypt.Saudi Industrial Production Index rises by 26 percent in April
Saudi Arabia's Industrial Production Index (IPI) in April 2022 increased by 26.7 percent compared to the same month last year. The General Authority for Statistics (GASTAT) said the IPI continued to show positive growth rates due to the high production in mining, quarrying and manufacturing activity. The IPI is an...UAE secures 32% of Japan’s crude oil needs in April
The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that month amounted to 87.59 million barrels.Saudi GDP up nearly 10 percent in Q1 on oil activities
The Gross Domestic Product (GDP) of Saudi Arabia grew by 9.9 percent in Q1 of 2022 compared to Q1 of 2021, and the seasonally adjusted GDP increased by 2.6 percent compared to Q4/2021. The GDP Report for Q1 2022 released Tuesday by the General Authority for Statistics (GASTAT), said this....GCC economies to grow by 5.9% in 2022: World Bank
The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general waning of the pandemic’s adverse impacts in highly vaccinated countries. The growth, however, will slow abruptly in 2023 and 2024 across the region, the report adds.GCC sees rise in non-oil sectors’ contribution to GDP
The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.Saudi Arabia begins compensation for Jeddah clearance project
Saudi Arabia has begun compensating residents who lost property to a massive redevelopment project in the coastal city of Jeddah that has spurred rare expressions of public anger, state media said. "The delivery of the first batch of compensation for the removed properties has begun," the official Saudi Press Agency...Asian markets mixed as US jobs data give Fed room to hike rates
Asian markets were mixed Monday following a steep drop on Wall Street in response to a forecast-topping US jobs report that gave the Federal Reserve room to continue hiking interest rates.Saudi Arabia, Spain to strengthen partnerships in sustainable tourism
Spain’s experience and expertise in tourism has already helped Saudi Arabia and more Spanish businesses will hopefully join the leading tourism players already working with the kingdom, Saudi tourism minister Ahmed Al Khateeb has said. “I was very pleased to share our vision and plans with Spanish businesses in Riyadh...UAE, KSA bourses to stay range-bound until 2022-end
The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the heat, Junaid Ansari of Kamco Invest tells TRENDS.GCC slams Islamophobic remarks by top officials of India’s ruling party
Gulf countries, including Saudi Arabia, on Sunday condemned remarks about the Prophet Mohammed made by top officials in India's ruling party that were described as "Islamophobic". The remarks by a spokesperson for Indian Prime Minister Narendra Modi's party last week were blamed for clashes in an Indian state.Saudi Arabia aims to triple foreign tourism in 2022: Minister
Saudi Arabia aims to triple foreign tourism this year as pandemic restrictions ease, hajj pilgrims return and the first elements of the crown prince's signature projects open, its tourism minister told AFP Sunday. The kingdom inaugurated tourist visas in September 2019, just months before the coronavirus pandemic decimated the industry...Saudi authority to hold real estate auctions in Riyadh, Madinah
Saudi Arabia's Center for Attribution and Liquidation, or Infath, has said that between June 7 and 15, it will be holding five public real estate auctions in Riyadh and Madinah, with areas exceeding 100,000 square meters. Auctions display 117 real estate assets, including commercial, residential, and agricultural lands, villas, and...Bioethics: Towards a moral practice of medicine
Bioethicists must support and advance the rights of women through new policies and ensure that established regulations and policies are implemented in support of patients. Bioethicists must also strive to alert practitioners to the social and cultural challenges, she adds.US President delays trip to Saudi Arabia, Israel
US President Joe Biden has pushed back a possible trip to Israel and Saudi Arabia, US media reported Saturday. The trip would reportedly happen around the time Biden travels to a NATO summit in Spain and Group of Seven summit in Germany later this month.UAE blazes a trail with AI, leads Europe and MENA
The Gulf country leads EMEA in the leverage of data, data science, and AI for the purposes of decision making and business growth, the latest Dataiku report points out.Saudi stocks lead declines among Gulf bourses
Saudi Arabia's benchmark index finished 1.3% lower, hurt by a 2.1% fall in oil giant Saudi Aramco and a 1.2% decline in country's biggest Islamic lender Al Rajhi Bank.KSA teams up with Novartis to ramp up pharmaceutical capacity
Saudi Arabia has partnered with Novartis, the Swiss pharmaceutical company, to ramp up the kingdom's bio pharmaceutical capacity.


















































