Saudi crown prince demands Gaza, Lebanon ceasefires at Arab summit
Prince Salman also called on Israel not to attack Iran, highlighting improving ties between Saudi Arabia and its former regional rival. Meanwhile, Lebanon's Prime Minister Najib Mikati warned that the country was suffering an "existential" crisis and hit out at countries meddling in its internal affairs -- a thinly veiled...
Saudi Arabia to send oxygen tanks to Tunisia
King Salman bin Abdul-Aziz Al Saud has reportedly directed health authorities to provide medical oxygen and accompanying supplies to Tunisia.
Saudi Arabia allots land for 600 megawatt solar plants
Saudi Arabia is constructing two renewable energy plants as part of the kingdom’s plan to generate 50 percent of its energy from renewables.
Saudi Arabia to improve labor quality
Saudi Arabia will start giving out professional licenses from next year in order to improve the quality of its domestic labor. To begin with, sixteen professions will receive the mandatory license in a phased manner.
Saudi Arabia takes offense at EU duties
Saudi Arabia has filed a World Trade Organization complaint over EU anti-dumping duties on imports of a chemical compound used to make synthetic fibers and plastic bottles.
Saudi Arabia looks to boost exports
Saudi Arabia will resume negotiations with 11 countries for free trade agreements meant to increase non-oil exports share in GDP.Saudi Ceramics plans $66m factory
The facility will have an annual capacity of 8.25 million sq m.
Saudi Arabia to accept IATA Travel Pass from Sept 30
Saudi Arabia’s General Authority of Civil Aviation has accepted the pass as a valid way of confirming Covid-19 test.
UAE, Saudi Arabia realty growth trumps Covid-19
Timely preventive measures such as vaccination of frontline construction workers, embracing new technologies , financial stimulus packages, loan relaxation and other strategies dented the effects of Covid-19 on real estate sector.
Race between UAE and Saudi Arabia heats up in logistics
The United Arab Emirates (UAE) and Saudi Arabia are engaged in a new bout of competition that could decide which of the two would eventually become the top leader in the logistics sector, in the Middle East.
Flyadeal ropes in Airbus to support its A320 fleet
The Saudi low fares airline, flyadeal, has signed a long-term Flight Hour Services (FHS) agreement with Airbus to support its A320 fleet.Bahrain-origin exports up by 62 percent in July
Saudi Arabia ranked first for Bahrain-origin exports and re-exports. Portable digital automatic data processing machines were the top product re-exported from Bahrain.
Saudi pupils ready to be back at school
Confined to homes for more than 18 months by the coronavirus pandemic, Saudi pupils are all set to be back at school with the Covid paraphernalia of face masks, bottles of sanitizer, in addition to books and notebooks.Â
Portal to connect engineers with clients in Saudi Arabia launched
Details of the providers of services such as surveying consultancy, design contracts, boundary supervision and turnkey contracts will be available on the portal.
Saudi Arabia leads GCC AI healthcare race
Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring and AI expected to account for 30 percent of hospital investment.
PIF ups Activision Blizzard holding in second quarter
The sovereign wealth fund is at the center of the kingdom's plans to transform the economy by creating new sectors and diversifying revenues away from oil.
Green drive: Middle East bets big on renewables
To forestall the crippling effects of climate change, Saudi Arabia and the UAE have put on track projects worth billions of dollars to significantly lower emissions.
UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs. The central bank digital currency (CBDC) is expected to be launched in the UAE and Saudi Arabia in the next two to five years.UAE on way to become cashless economy by 2025
According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs
GCC seeks to tap green hydrogen demand
The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green hydrogen, green ammonia, and power fuels in the future.
Mergers, acquisitions in GCC up during pandemic
Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.
BinDawood’s net profit down 50 percent for Q2
Taking a direct hit from the Covid restrictions, BinDawood, the Saudi supermarket retailer, has reported a 50 percent dip in net profit to $25.33 million for the second quarter of this fiscal.
Inflation in Saudi Arabia leaps to 0.4 percent in July
Owing to higher prices in the transport sector, Saudi Arabia's consumer price index rose 0.4% in July from a year earlier and was up 0.2% month on month, government data showed on Sunday.
Netflix rules Mideast as rivals eye content share
Arab-based platforms such as Starz Play, Wavo, and OSN have become local competitors to Netflix and gaining the ground fast as alternative sources for entertaihment.UAE, Bahrain lead MENA’s fintech sector boom
A total of 465 fintech companies in the region are expected to raise over $2 billion in venture-capital funding, compared to nearly $80 million raised by 30 fintech firms in 2017.
Digitization key to Tamer Group’s success: Chairman
Tamer Group has achieved significant milestones in B2B to support digital fulfillment and enhance its services, chairman Ayman Tamer tells TrendsMena in an interview.Saudi Arabia starts $3.4bn infrastructure projects in Tabuk region
The projects in the Tabuk region will include initiatives related to housing, transportation, environment, and agriculture.
200 telecom towers to come up in Saudi Arabia every year
Tawal, the Saudi ICT infrastructure company, is planning to erect about 200 new towers in the kingdom every year, to keep pace with the sector’s expansion needs.
10 die from Covid in Saudi Arabia
Covid shows no signs of relenting as ten people died in Saudi Arabia on Friday, and 681 were infected with the virus.Saudi customs seize drugs at port
Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port, seizing 1.6 million Captagon pills.
Private investors set to inject $7.3bn in Saudi health
Saudi Arabia is aiming to lure private investors into the health sector of the kingdom with its plan to take private participation from 25 percent to 35 percent by 2030.
Saudi handouts, to poor, leap to $27bn
Saudi Arabia has paid nearly $27 billion, since 2017, in monthly handouts to low-income families, facing the unintended effects of reforms.
Saudi Arabia to penalize artificial lakes in farms
The country has said it will take legal action against the construction of manmade or artificial lakes in farms for the purpose of investment or entertainment.
Unvaccinated kids below 12 can enter open Saudi recreational spaces
Such children must be accompanied by immunized adults, should be free from flu-like symptoms, and their health status in the Tawakkalna App must confirm they are not infected and have not come into contact with an infected person. Only kids immunized with at least one dose can enter such spaces.
Non-Saudis can now own one property in the country
This new move could make Saudi Arabia appear more expat-friendly as the nation looks to project itself as a regional hub of business activity.
Only serious reforms will get Lebanon foreign aid: Saudi Arabia
The Saudi Cabinet, however, reiterated its solidarity with the country whose people are looking at a deepening economic crisis.
Saudi banks net profit up to $2.94bn in Q2
In a sign of economic rebound in Saudi Arabia, banks in the kingdom are reporting better than expected financial results for the second quarter, after a slump in business during the Covid pandemic.Saudi Arabia issues record 478 licenses in first quarter
Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies, 59 percent of new investment projects in Q1 2021 were full foreign ownership, with the remainder being joint ventures with local investors.
Saudi industrial production rises to 11.9 percent
Saudi Arabia has reported a sharp rise in its Industrial Production Index (IPI) to 11.9 percent in June 2021 from a year earlier and by 3.6 percent from May, official data showed today.
Saudi budget deficit narrows sharply
Better days for Saudi economy seem to be on the horizon as the kingdom’s budget deficit has narrowed sharply in the first six months of this year.
Umrah permits for double-jabbed Saudis aged 12-18
Saudi nationals aged 12-18 can obtain Umrah permits if they have received two doses of Covid-19 vaccine, the ministry of Hajj and Umrah has said. Local media reports said the ministry’s announcement follows the inauguration of the 2021 Umrah season on August 10.US announces extra $165 mln in Yemen aid
Yemen's conflict flared in 2014 when Iran-backed Huthi rebels seized the capital SanaaRiyadh leads Q2 Saudi Arabia residential market boom
Latest review by global property consultant Knight Frank says apartment values in Saudi capital grew by 7.6 percent year on year.
Saudi falcon sells for $72,000, setting record
The sale took place at the International Falcon Breeders Auction or IFBA at the Saudi Falcons Club or SFC in Malham, North of Riyadh.
Middle East’s largest wind farm produces first carbon-free MWh
The project, Saudi Arabia's first, is being developed by leading renewable energy companies EDF Renewable and Masdar.Saudi borders reopen for vaccinated pilgrims
Authorities in the ministry responsible for coordinating foreign pilgrims will from Monday begin "gradually receiving Umrah requests from various countries of the world," the Saudi Press Agency reported.Covid infects unvaxxed Saudis galore
Saudi Arabia’s health officials are warning people that Covid-19 was spreading rapidly among unvaccinated in the kingdom.
SVC provides 75 startups with nearly $250m
Saudi Venture Capital Company (SVC) has funded nearly 75 startups since its birth in 2018, providing them with about $250 million.
Saudi Arabia gets a pat on the back from US
Saudi Arabia has received warm praise about its improved rankings on a number of global lists from the US State Department. In its recently published annual Investment Climate Statements on more than 170 countries, the US State Department highlighted the achievements made by Saudi Arabia.
Saudi British Bank posts $245m net profit in Q2, year after big losses
A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable net profit of $245 million in the second quarter of 2021.Saudi Arabia asks pupils to take two jabs in order to attend school
With the government having made clear that only fully jabbed students aged 12-18 would be allowed to attend classes during the new academic session, Saudi Arabia is urging students to make appointments for taking the vaccine.
