Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the city's global profile while enhancing local quality of life

Riyadh, Saudi Arabia -- Saudi Arabia has maintained its first rank across MENA in terms of the amount of Venture Capital (VC) funding in the first half of 2024, which witnessed a total VC deployment of $412 million (SAR 1.5 billion), the Saudi Venture Capital Company (SVC) said Tuesday.The "2024-H1...

Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing need for lower-carbon energy sources.

The Women's Tennis Association (WTA) announced in April that Riyadh would host the next three editions of the tour finals featuring the top eight singles players and doubles teams. The $15.25 million in prize money for the event set to take place November 2-9 is up from $9 million at...

"The state did not fail, but there was a misjudgment on the part of people who did not appreciate the risks," the official told AFP in the government's first comments on the deaths. An AFP tally on Friday, compiling official statements and reports from diplomats involved in the response, put...

The new deaths reported Thursday included 58 from Egypt, according to an Arab diplomat who provided a breakdown showing that of 658 Egyptians who died, 630 were unregistered pilgrims. Around 10 countries have reported 1,081 deaths during the pilgrimage.

Abha, Saudi Arabia - Saudi taekwondo standout Donia Abu Taleb had an unusual introduction to the sport: for years she trained at a boys' club because there were no girls to compete with.Now the 27-year-old has become the first Saudi woman to qualify for the Olympics and is dreaming of bringing...

"All of them (the Egyptians) died because of heat" except for one who sustained fatal injuries during a minor crowd crush, one of the diplomats said, adding the total figure came from the hospital morgue in the Al-Muaisem neighbourhood of Mecca.

Crown Prince Mohammed bin Salman said on Sunday that Saudi officials had committed "to provide everything that will serve those who visit the Two Holy Mosques and help them perform their worship in security and reassurance". The health ministry said it would "closely follow cases of heat exhaustion."

Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold in its latest offering, which was set to raise $11.2 billion.The secondary offering was expected to provide a short-term boost to Saudi Arabia's finances as the Gulf kingdom builds large-scale...

Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future generations. Calls have been made to work through collaborative models of private and public partnerships to achieve green goals.

Oil prices slipped after Saudi-led OPEC and its Russian-led allies said Sunday they would maintain output levels but begin to restore production from October, even as questions about China's economic recovery and a spike in US stockpiles cause investors to fret over demand. Brent, the international benchmark, fell more than...

Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion in one of the biggest such offerings in recent years.In a statement posted to the Saudi stock exchange, Aramco announced a "secondary public offering of 1.545 billion shares",...

Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on Tuesday to collaborate in several areas, including developing technical aspects in data analysis, machine learning, artificial intelligence, security and privacy solutions, and software and service development solutions. The goal is...

The meeting comes nearly 10 days since the royal court said the king had a lung infection and was undergoing treatment involving antibiotics.

Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF)on Monday launched the Neo Space Group to work on the kingdom's nascent satellite and space industry, its first investment in the sector.One of the world's largest sovereign wealth funds, the PIF has already invested heavily in sports, gaming and so-called Saudi...

As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in arts and culture.

New York, United States -- The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign wealth fund (PIF), emulating a deal made by the men's tour (ATP) in February.The WTA said in a statement that it shared with PIF an "ambition to grow women's professional...

In a wide expansion of aviation services, Saudi Arabia's top airline Saudia Group has place an order of 105 aircraft from Airbus. Saudia airline will receive 54 A321neo aircraft, while budget offshoot Flyadeal will acquire 12 A320neo and 39 A321neo planes, they said in a statement.

Riyadh, Saudi Arabia - Saudi Arabia's King Salman has a lung infection and is undergoing a treatment programme involving antibiotics, the Royal Court said Sunday in the latest update on the ageing monarch's health.Earlier in the day, the court said King Salman was suffering from "high temperature" and joint pain, and...

Israel has also fought and bombed resurgent Hamas forces in northern and central areas of the coastal territory previously considered to be under army control, sparking US warnings that it could become mired in a lengthy counterinsurgency campaign.

US National Security Advisor Jake Sullivan says there is a potential of Israel-Saudi normalization deal if Netanyahu alters his political strategy for the future of the Palestinian enclave.

The setting for Red Sea Fashion Week, the St Regis Red Sea Resort on Ummahat Alshaikh island, is part of Red Sea Global, one of the giga-projects at the heart of Saudi Arabia's Vision 2030 social and economic reform program.

Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala Financing, there are now 11 authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. The addition brings the total number of finance companies licensed and permitted by SAMA to 62,...

Riyadh, Saudi Arabia – The Saudi Tourism Authority (STA), in collaboration with the Saudi Ministry of Tourism, has announced the expansion of its eVisa program to tourists from the Commonwealth of the Bahamas, Barbados and Grenada.Nationals of these three countries can now apply for a visitor visa to Saudi either electronically or...

Gabriel Chahine, Middle East Lead for AlixPartners, discusses the significance of the World Economic Forum in Riyadh, economic outlook, AI, and strategies for businesses.

Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which will increase the number of routes between Saudi Arabia and the UAE to nine, with flight frequencies surging to more than 20 daily flights.The carrier unveiled expansion plans for the...

Despite lower profit, it will pay $31bn in dividends to Saudi government.

The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification and innovation, according to ADL report.

Riyadh, Saudi Arabia -- UpLink, the World Economic Forum community dedicated to supporting early-stage impact-focused entrepreneurs, has announced the launch of four initiatives aimed at accelerating the transition to a circular carbon economy, addressing the growing demand for clean energy minerals, rejuvenating vital ocean ecosystems, and leveraging quantum computing for...

Riyadh, Saudi Arabia -- Saudi Arabia has called for a "real commitment to a two-state solution that is a credible, irreversible path to a Palestinian state".At the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development aimed at dialogues to tackle the most pressing geopolitical, social and...

Earlier on Monday, European Union foreign policy chief Josep Borrell told reporters he would encourage Arab leaders to put forward their proposal for a two-state solution and that he wanted EU member states to invite Arab leaders to Brussels to present it.

US Secretary of State Antony Blinken's visit to Riyadh comes nearly seven months after the eruption of war in Gaza put the brakes on what was intended as a signature foreign policy achievement for his boss, US President Joe Biden. It also comes as Americans prepare to vote in November...

GCC countries are prioritizing actions like near-shoring, international partnerships, and technology adoption to ensure supply chain adaptability and responsiveness, says a report by Oliver Wyman.

Riyadh, Saudi Arabia - Saudi Arabia is warning potential Hajj pilgrims to be cautious of fake Hajj companies that may scam people. The Ministry of Hajj and Umrah has advised individuals to use the Nusuk app for registration, which is available in several countries. For those countries where the app...

Riyadh, Saudi Arabia -- Saudi Arabia could have its first Miss Universe contestant this year, organizers said this week, after a fashion model and influencer claimed she had been selected.The Miss Universe Organization "is currently undergoing a rigorous vetting process qualifying a potential candidate to be awarded the Saudi Arabia franchise",...

The two-day World Economic Forum special meeting, scheduled to begin in Riyadh on Sunday, includes in its official program appearances by the Saudi, Jordanian, Egyptian and Turkish foreign ministers. A Gaza-focused session is set to feature newly appointed Palestinian prime minister Mohammed Mustafa among others.

The deal involves sponsorship rights for multiple events including the 2026 Men's World Cup and the Women's World Cup the following year. "We are delighted to welcome Aramco to FIFA's family of global partners," FIFA president Gianni Infantino said in a joint statement released by the energy company.

Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious infrastructure development plans.

The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing residential ownership.

Riyadh, Saudi Arabia -- Saudi Arabia has imposed anti-dumping duties on seven products imported from 10 European and Asian countries, six of which are subject to the unified GCC law to protect the industry from the damage caused by dumped and subsidized imports, media reports said.The products included all types...

Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254 million.

Riyadh, Saudi Arabia - The prestigious Red Sea Fund has thrown open its doors to filmmakers across Arab and African origins, inviting submissions for its Production Cycle. With the launch of Cycle 2 for the year 2024, the Fund is geared up to support feature-length narrative, documentary, and animation projects.From...

The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership, says Barry Lewis, CEO at ALEC, in an interview with TRENDS.

Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of accumulated traffic fines for violators. The initiative will see a 50% reduction in fines incurred prior to April 18, 2024.Implemented in collaboration with the Ministry of Finance and the Saudi...

Clean hydrogen could be bigger than the oil and gas economy for the region, says Jo Bamford, chairman of HYCAP, which invests in net zero and hydrogen economy.

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for local and international investors. The opportunities are part of the fifth round of mining competitions for exploration licenses and encompass gold, copper, zinc, lead, and silver ores in various regions...

RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the world, celebrated taking delivery of the 50th airplane out of a large order for Airbus A320neo jetliners at a reception held at King Khalid International Airport here.The company is moving...

GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable development.

"We have to think seriously about doing it this semester," Sanchez told a group of Spanish journalists accompanying him on a tour of three Middle East countries Sanchez had said on March 9 he would propose that parliament vote in favor of this recognition by the end of the current...