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...

The Saudi firm plans to invest $91m in Egypt.

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...

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.

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....

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.

The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.

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 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.

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...

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.

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 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 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...

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 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.

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 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.

Saudi Arabia has partnered with Novartis, the Swiss pharmaceutical company, to ramp up the kingdom's bio pharmaceutical capacity.

US President Joe Biden confirmed Friday he was considering a trip to Saudi Arabia. The New York Times and other US media, quoting anonymous sources, have reported that Biden would go ahead with the long-rumored Saudi stop during an upcoming overseas tour. CNN said that Biden would meet Saudi Arabia's...

About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%), Qatar (7%), Oman and Kuwait (2% each), and Bahrain (1%).

A meeting between the Committee of Heads of Red Crescent Societies and bodies in GCC concluded its 18th meeting. The committee issued a set of decisions including approving the Saudi Red Crescent Authority's bid to organize the third Gulf Forum for Voluntary Work for the Red Crescent bodies and societies...

Saudi Arabia's cabinet has endorsed the setting up of Health Holding Co. and charter of the National Health Insurance Center.

Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the first three months of the current year, posting a 4.4 percent jump over the previous quarter.

An auto repair garage in Saudi Arabia is turning to an untapped source for new car mechanics: Saudi women, who just four years ago weren't even allowed to drive.

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they...

Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to likely stick to their policy of only increasing output modestly, as they have done since...

Crude price rise will potentially lead to a greater surplus in local govt budgets, which can be used for construction and development investment, Gary Tracey of JLL tells TRENDS.

European Union leaders agreed on Monday to ban more than two-thirds of Russian oil imports as part of the sixth package of crippling sanctions on Moscow. Media reports said OPEC was considering whether to remove Russia from an agreement that has locked producers into limited output increases.

A joint panel of the two countries discuss the mechanism to develop and modernize previous agreements related to maritime transport.

Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA).

The United States warned Tuesday that talks on Yemen's two-month truce were in "trouble" as it pushed for an extension to help support millions at risk. Talks to extend the pause in fighting "haven't ended yet but seem to be in a bit of trouble," said Linda Thomas-Greenfield, the US...

The net foreign assets of Saudi central bank rose by SR4.0 billion ($1.07 billion) to SR1.63 trillion in April, according to the data published on the website of SAMA. The kingdom's net foreign assets increased by 0.2 percent from SR1.63 trillion in March. Over the same period, the central bank's...

Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country head of Maybank Islamic Dubai-DIFC.

Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning, investment, and developing tourism sites and projects. Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles regarding the same. The MoU aims at...

The company to set up a manufacturing facility in Jeddah.

The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.

The firm will supply pipes to Saline Water Corporation.

Saudi Arabia announced Sunday it had named a senior diplomat as its first climate envoy, as officials vow to ramp up oil production while pursuing ambitious goals for emission cuts. The appointment of Adel al-Jubeir to the envoy role was announced as part of a series of royal orders decreed...

Saudi Arabia’s East Pipes reported a net loss of SAR3m during FY2022.

It was a week of mixed fortunes for various stock exchanges of the GCC, with TASI remaining flat through the week, even as Abu Dhabi's index began posting gains on Frdiay.

Even as SMEs in GCC seek to do more to end gender disparity , UAE proactively leads the region in pursuing the diversity agenda, says Marketa Simkova, Partner at KPMG Lower Gulf.

This is a part of the Kingdom’s agenda to achieve sustainable development 2030 locally and internationally.

The kingdom eyes over 70 million visitors this year as the country jumps from 43rd to 33rd spot on the global tourism ranking, says Saudi Arabia's assistant tourism minister.

Saudi Arabia's coach Herve Renard has signed a new five-year deal after guiding the team to this year's World Cup in Qatar, football officials announced on Friday.

The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.

A Saudi delegation said Wednesday that the transformation march launched by it a few years ago contributed to enhancing the economic, social and development dimensions of the Kingdom and has created qualitative investment opportunities. The delegation participated in a panel discussion, "Kingdom of Saudi Arabia: A Future Vision", on  Wednesday...

Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to  the General Authority for Statistics, also known as GASTAT. Non-oil exports excluding re-exports rose by 22.4 percent year-on-year. On a monthly basis, non-oil exports also grew by S3.2 billion, or 12.8 percent. Oil exports, which includes crude...

Saudi Arabia's crown prince expects to travel to Turkey next month, a Saudi official told AFP Wednesday. The trip by Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, will also include stops in Egypt, Cyprus and Greece, said the official, who requested anonymity because he was not permitted...

Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the prior year. UAE consumption reached 12.50 tons in Q1 2022.