Riyadh tripartite meet pledges to implement Beijing Agreement
Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement in Riyadh on Tuesday reaffirmed their commitment to implementing the Beijing Agreement in all its provisions.They also reaffirmed their continued endeavor to consolidate neighborly relations between their countries through adherence...
Iran says fresh talks with Saudi if Riyadh ‘serious’
Iran said Monday any new talks with Saudi Arabia will depend on Riyadh's willingness to move ahead and be more "serious" to ease tensions after a five-year rift. The regional powers have been engaged in talks since April with the aim of improving ties, with four rounds of discussions taking...
Hosting Expo 2030 in Riyadh opportunity to learn from Saudi experience: OIC
The Organisation of Islamic Cooperation (OIC) has supported Saudi Arabia's bid to host Expo 2030 in Riyadh. The OIC is the second-largest organization after the United Nations with a membership of 57 states spread over four continents. It is considered the voice of the Islamic world. Saudi Arabia is the...
Lebanon keen to restore relations with Arabs: President Aoun
Lebanese President Michel Aoun has said that his country is keen to establish good relations with the Arab countries, especially Saudi Arabia and Gulf States.AlUla will become top tourist destination: French ambassador
Ludovic Pouille, French ambassador to Saudi Arabia, believes that AlUla Governorate will become one of the top international tourist destinations due to its natural components and diversified history.Kuwait’s shopping mall, the Avenues, to open in Saudi Arabia
The largest shopping mall brand in Kuwait, the Avenues, is all set to venture into Saudi Arabia with the opening of two outlets in the kingdom in the next four years.
Non-Saudis can now invest in real estate funds in two holy cities
The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invests in assets within the boundaries of Makkah and Madinah.
Abdulmohsen Alhokair of KSA reports 17.8% jump in net losses
Abdulmohsen Alhokair, the Saudi entertainment group, has reported an increase in net losses by 17.8 percent during the first 9 months of 2021.
Tadawul of Saudi Arabia to list its IPO on the bourse
Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares on the bourse.How much does fuel cost in Arab countries?
Merely producing great quantities of oil or having a shortage does not dictate whether a country will have the cheapest or costliest gasoline.
Jadwa says Saudi fiscal budget deficit might contract this year
Saudi Arabia might see a contraction in fiscal budget deficit this year, according to Riyadh-based Jadwa Investment.
PIF of Saudi Arabia looks to invest in China
Public Investment Fund of Saudi Arabia is looking to diversify investments into Chinese companies after having confined its overseas holdings to the US and Europe.
Moody’s revises Saudi Arabia’s outlook to stable
The agency predicted the Saudi economy will return to positive growth in 2021, and the current account level will return to surplus as the fiscal deficit shrinks in 2021, accompanied by a reduction in the level of debt in the medium term.
Saudi Arabia hosting world’s largest camel festival from Dec 1
The festival, set up on an area of 32 square kilometers and located nearly 100 km north-east of Riyadh, will also include various entertainment and cultural activities to present it as a global carnival that provides around 5,000 jobs and stands as a destination for tourists from across the world...
GCC works from home with digitalization
The Covid-19 pandemic has been the primary driver of businesses and governments embracing remote-work opportunities.
Infath of Saudi Arabia logs $159.9m sales in October
Entrustment and Liquidation Center (Infath) of Saudi Arabia has raked in its highest ever amount in October thanks to sales of more than $159.9 million.
Saudi economic growth in Q3 5.7 percent likely: Capital Economics
Compared to the growth of only 0.7 percent in the second quarter of this year, Saudi Arabia's economy is likely to have grown by about 5.7 percent in the third quarter. The spurt in growth is thanks to a robust hydrocarbon sector output, London-based Capital Economics said in a report...
Poverty fuels despair in oil-rich south Iraq
Basra province gets only 1 trillion dinars out of the total Iraqi budget of 130 trillion Iraqi dinars ($89 billion), according to deputy governor Dorgham al-Ajwadi.
60,000 Saudi nationals added to private-sector job force in Q3 under Nitaqat
Around 60,000 Saudi nationals were added to the kingdom's private-sector labor force under the Saudization program during the third quarter of 2021, the National Labor Observatory (NLO) has said. The percentage of Saudis in the private sector increased to 23.59 percent, up by 0.96 percent compared to the previous quarter....
Saudi bank inks $100m deal
The agreements are aimed at bolstering Saudi exports.
Top oil producers stick with modest output boost
This is despite pressure from big consumer nations to open up the taps much more decisively amid soaring prices. The producers led by Saudi Arabia and Russia in the so-called OPEC+ will add 400,000 barrels per day in December, they said.
Lebanon PM Najib Mikati urges action to mend Gulf row, govt paralysis
The government is breaking at the seams over a series of disputes involving a probe into last year's monster port blast, and remarks by Information Minister George Kordahi over the Yemen war that sparked reprisals from Saudi Arabia and its allies.
Top oil producers to assess output amid pressure to open up the taps
The powerful producers led by Saudi Arabia and Russia in the so-called OPEC+ grouping are expected to re-affirm a decision in July to modestly step up production after slashing it steeply last year as the pandemic hit global markets.
COP26 sees new coalition for net-zero tourism
The SGTC will be headquartered in Riyadh, Saudi Arabia, and may open regional offices in other countries.
Saudi Arabia and UAE join calls against Sudan coup
Saudi Arabia and the UAE have joined the United States and Britain Wednesday in urging the leaders of last week's military coup in Sudan to restore the civilian government. The united front with the two Arab powers comes amid hopes that the military can be persuaded to accept a climbdown.Arab nations’ pledge bolsters COP26 message
The UAE, Saudi Arabia, and Egypt have made some strong climate-action pledges at or before COP26.
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.
‘Oil unlikely to hit US$100 in 2022’
The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS in an exclusive interview.Demand for films in Saudi Arabia grows, above 1,000 released in 3 years
There is a great demand from distributors for films in Saudi Arabia, which is borne by the fact that more than 1,000 films have been released in the kingdom's cinemas during the past three years. The rising demand for films and several other points related to the film industry in...
Theft of data worries UAE and Saudi residents, says study
Ding launched the second Ding Global Prepaid Index (GPI)in the United Arab Emirates and Saudi Arabia.
Lebanon invites Saudis for talks as diplomatic row deepens
Lebanon on Monday called for talks with Saudi Arabia to ease a spiraling diplomatic row sparked by remarks made by a Lebanese minister on the Yemen war.
Saudi firms refinance SAR10bn real estate agreement
Saudi Real Estate Refinance Company of the Public Investment Fund has announced the signing of a refinancing partnership agreement with the Real Estate Development Fund (REDF) to refinance a real estate portfolio worth SAR 10 billion.No plan to reduce VAT any time soon, says Saudi minister
Saudi Arabia will not reduce value added tax any time soon, but will consider doing it when it public finances will have improved. This was stated by Saudi Finance Minister Mohammed Al-Jadaan .
Arab Parliament hails Saudi Arabia’s role in Yemen
In a statement issued Monday, the Arab Parliament expressed its rejection of the statements of the Lebanese Minister of Information who had criticized Saudi role.
Maersk lands Saudi deal
Maersk will set up a Logistics Park at Jeddah Islamic Port.‘Pointless’ dealing with Hezbollah-dominated Lebanon: Saudi Arabia
The developments, sparked by Lebanese Information Minister George Kordahi's remarks on the Yemen war, have dealt a fresh blow to crisis-hit Lebanon, where a fragile government is struggling to secure international aid, including from wealthy Arab countries.Roundup: Four Gulf states pull diplomats from Beirut
This is bad news for Lebanon, which had been counting on financial assistance from the Gulf to rescue its economy. Now, its ties have soured with four countries in the neighborhood because of comments made by its Information Minister George Kordahi.
Sabic to invest $1.37bn in UK
The investment is expected to improve operations at a UK plant.
Largest Saudi gold mine to begin work in Q1 of 2022
Saudi Arabia is set to begin mining gold from one of the biggest reserves of the kingdom in the first quarter of next year.
PIF of Saudi Arabia unveils LIV Golf Investments
Public Investment Fund of Saudi Arabia has unveiled LIV Golf Investments and hand-picked former world champion Greg Norman to lead the new venture.
Half million visitors to Saudi pavilion at Expo 2020 Dubai
The total number of visitors to the Saudi pavilion exceeded 30 percent of Expo 2020 Dubai's total number of visitors.
Bahrain orders Lebanese envoy to leave in 48 hours
The decision closely mirrored that of Saudi Arabia, which too ordered the Lebanese ambassador to its country to return home.Saudi recalls envoy to Lebanon over Yemen comments
Saudi Arabia ordered the "recall of the ambassador in Lebanon for consultations, and the departure of Lebanon's ambassador to the kingdom within 48 hours", over the "insulting" remarks made this week by Lebanon's information minister, the foreign ministry said.Saudi submits bid to host World Expo 2030 in Riyadh
Russia, the Republic of Korea, Italy and Ukraine are other four countries that have submitted bids for the event in their respective cities.Oil giant Saudi Arabia sees opportunity in climate crisis
Not only is the kingdom ramping up oil production, it is also making a major play for the trillion-dollar emerging industries touted as a route to cleaner air.
Saudi index ends week down 0.4%, Qatar up 1.2%
In the UAE, the Abu Dhabi index added 0.2% with the International Holding Company gaining 0.7%. Dubai index ended the week 0.1 percent down.Saudi Arabia, Spain agree to build sustainable tourism
Saudi Arabia’s efforts to redesign the future of tourism accelerated this week with a string of major initiatives in Riyadh this week.
UK and Saudi Arabia sign pact to promote direct investment
Saudi Arabia and the United Kingdom signed a Memorandum of Understanding, which is aimed at the promotion of direct investment between the two countries. This includes establishing and expanding Saudi-based companies in the UK while also enabling the establishment and expansion of UK-based companies in Saudi. The MoU is also...
Dallah buys 8.2% stake in IMC
Dallah Healthcare of Saudi Arabia has picked up an 8.2 percent stake in International Medical Company for $77 million in order to widen its business.
SABIC records 412% spike in net profit to $1.5bn in Q3
Saudi Basic Industries Corp. (SABIC) has posted a nearly 400 percent spike in net profit to $1.5 billion for the third quarter as revenues grew on the back of higher prices.
Saudi Arabia picks HSBC to spot “investment opportunities”
Saudi Arabia has roped in HSBC to “identify and promote” sustainable investment opportunities. The agreement between the two was signed at the Future Investment Initiative conference in Riyadh.
