Job creation is part of Saudi strategy to help residents obtain high-quality jobs The strategy seeks to push more Saudi nationals into the country’s labor market Saudi Arabia will provide 40,000 jobs to its nationals in law firms, customs clearance, real estate, the cinema sector, driving schools, technical and engineering...

The company posted a net profit of $24.2 million for the quarter ending March 31, 2021 Its portfolio includes CitiGroup, Four Seasons Hotels & Resorts, Banque Saudi Fransi, and Savoy The philanthropist and billionaire of Saudi Arabia, Prince Alwaleed bin Talal, will continue to be chairman of the board of...

The funding to Egyptian businesses is expected to boost job creation The funding will also go towards purchasing factory machinery and medical equipment Small and medium-size enterprises in Egypt will receive a big boost from Saudi Arabia in more than $17.25 million funding, allowing them to stay afloat. This was...

The move comes seven weeks after the oil-rich kingdom permitted fully immunised citizens to travel abroad The UAE  is a key leisure destination for Saudis. Saudi Arabia has suspended flights to the UAE, Ethiopia and Vietnam, including the neighbouring United Arab Emirates, to protect against "a mutated strain of the...

Saudi clerics say the practice has proliferated since 1996, when the then grand mufti legitimized it with an Islamic edict Saudis, as well as the kingdom's expat workers, can be seen hunting on dating apps and matrimonial websites for such partners   The Muslim no-strings-attached "misyar" marriage often done in...

The result of the deal is a joint venture that will manage and set up hotels in various projects by Kaden Investment throughout the country The first of these hotels will be launched at the Riyadh Front business park Travel and tourism company Seera Group and Kaden Investment have signed...

Across the region, the population and wealth of HNWIs witnessed a growth of 13.2% and 17.2% The number of millionaires in Saudi Arabia and the UAE has grown almost at par   The population of high net worth individuals (HNWIs) grew 6.8 percent to 0.8 million while their wealth grew...

 Ziad al-Murshed named as the chief financial officer The IPO was a key part of the plans to open up the economy to foreign investors Saudi Aramco has named Ziad al-Murshed as chief financial officer, replacing Khalid al-Dabbagh who helped lead the oil giant through its 2019 initial public offering,...

OIC condemns the militia's unending attacks as terrorism Iran accused of providing rockets and missiles to Houthis Saudi air defenses shot down a Houthi drone close to the kingdom’s border in the southern city of Khamis Mushait, according to the Arab Coalition command. In a statement released on Saturday, the...

Ban to ensure the variant is kept out of the kingdom All travelers to the kingdom will have to undergo quarantine Alarmed at the outbreak of more infectious variants of the coronavirus in the world, and its neighborhood, Saudi authorities are banning travel, without prior permission, to and from the...

The new airline is expected to carry people between nations within the region like Emirates, Qatar Airways Saudi airlines mostly operate domestic services and point-to-point flights Saudi Arabia is planning to launch a new national airline to target international flyers, said reports on Saturday, July 3. The move is aimed...

UAE objects to extending of cuts to the end of 2022 as it seeks to grow production Members consider whether to continue reviving crude supplies gradually Major oil-producing countries on Thursday failed to agree to boost output in August to meet growing demand and limit recent price rises, adjourning their...

Saudi Arabia has started a broad archaeological survey of ancient stone structures in the Northern Borders and Al-Jawf regions Its aim is to provide information about cultural and social conditions during the Stone Age Saudi Arabia’s Heritage Authority has begun a broad archaeological survey of stone structures in the Northern...

New testing is about half the cost of existing carbon capture techniques The cryogenic technology hopes to capture up to 25 tons a day from a power plant A pioneering technique is being tested by a team of scientists at Jeddah-based King Abdullah University of Science and Technology for freezing...

Citigroup’s corporate and investment banking revenue nearly tripled in Saudi Arabia The group had returned to the kingdom three years back, after a 13-year-long absence Although Citigroup did not give out exact revenue figures, a senior executive revealed that the group’s corporate and investment banking revenue for its Saudi Arabia...

The company will invest in the UK, Europe, the MENA region, South Asia, North America Sharia-compliant investment industry is available across 80 countries but remains relatively new in Western markets Ethos Invest, the UK-based firm, seeks to raise $1.38 billion through a new Shariah-compliant fund, and become the world’s largest...

The port aims to provide logistics services for petrochemical exporters Maersk is investing in 100,000 sq m of warehousing space in the first two years of operations In an attempt at boosting the competitiveness of Saudi Arabia’s logistics sector, Maersk Saudi Arabia has entered into a petrochemicals partnership with King...

WPP and Tihama join hands to form a new Saudi media joint venture WPP will have 70 percent stake in the company and Tihama will hold the rest WPP, one of the world’s largest advertising agencies, and Tihama Advertising, Public Relations and Marketing have teamed up to establish a new...

Industrial companies to be given help in procuring land and factories In May, the kingdom issued 59 new industrial licenses to companies with a capital of $141.8m In order to prod more firms in Saudi Arabia to list on Tadawul, the Saudi Authority for Industrial Cities and Technology Zones (MODON)...

Germany recorded 1.6 million overnight stays from the Gulf region in 2019 A campaign aims to inspire travelers to journey off the beaten track this summer Undaunted by the dipping level of tourists from Saudi Arabia due to the Covid restrictions, Germany hopes to encourage travelers from Saudi Arabia in...

 Pfizer jab more likely to be trusted by 25-34 age group adults AstraZeneca vaccine considered second safest vaccine in both countries Dubai: Most residents of the UAE and Saudi Arabia believe the Pfizer-Biotech vaccine is the safest among the available Covid-19 vaccines, according to a study by market research firm,...

Saudi Arabia has launched a plan to wean the economy off oil Oman said it will start granting residence visas to foreign investors for 5 or 10 years Saudi Arabia is considering developing an industrial zone in Oman, and the two Gulf states have discussed the possibility of investment opportunities...

Labor force participation rate for women rose to 33.6% in Q1 2021 94 percent of the unemployed open to taking up a private-sector job The unemployment rate among Saudi Arabia's working-age populations dropped in the first quarter of 2021 while more women joined the workforce during this period, official data...

MAS Company has signed $60m deal with an Argentinian company Country’s pharmaceutical drugs market estimated to be worth $10.19b in 2020 Saudi Arabia has set itself the target of ridding the kingdom of the foot-and-mouth disease (FMD) common in livestock that can transfer to humans. In this direction, it has...

The low-cost gym will not have a swimming pool The country has eased restrictions for women over the past few years Health and fitness seem to be a big concern for women in Saudi Arabia just as it is everywhere in the world, and to cope with the demand for...

New carrier would push SA into the 5th rank globally in terms of air transit traffic The move is part of plan to diversify kingdom’s economy away from oil   Saudi Arabia's Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of...

Amazon's Climate Pledge aims to achieve net-zero across its businesses by 2040 The projects are expected to come up Saudi Arabia, UAE, and Egypt The Middle East and North Africa region will see a number of sustainable projects being launched by global eCommerce giant Amazon as part of its Climate...

Both targeting Japan, a key oil, gas importer Both also eager to get into green hydrogen, ammonia industry   Saudi Arabia and the UAE are competing to become blue hydrogen and ammonia exporters as their oil output capacity expands, s&pglobal.com reported. Saudi Aramco, the world's No. 1 listed oil and...

274,849 rulings issued, nearly 5.7 million violators arrested Passport authorities call on citizens and migrants to stop employing or sheltering infiltrators and violators   Saudi Arabia has issued 274,849 rulings against violators of the residency, labor and border security regulations and nearly 5.7 million such violators have been arrested in...

Russia is expected to favor increasing output Most investors are currently expecting a modest rise of some 500,000 bpd over the month of August   The OPEC+ group of oil-producing countries will meet on Thursday and are expected to agree to boost production in August to meet demand and dampen...

Tamer Group calls acquisition step towards its digital plan aimed at contributing to Saudi Vision 2030 Mumzworld Founders Mona Ataya and Leena Khalil will continue to lead the company   Saudi-based Tamer Group has acquired a majority stake in Mumzworld, the UAE-based mother, baby and child (MBC) e-commerce platform, for...

Saudi Arabia looks to dominate the dates industry It wants to establish itself as the primary source of dates for the world Saudi Arabia aims to expand and establish itself as the world’s first source for dates, and to achieve the preeminence in the dates industry its National Center for...

Virtual event promises to catalyze a new era of economic collaboration Day-long summit will host discussions featuring high-profile investors from  KSA, Gulf, and top experts from the UK The longstanding ties between the UK and the Gulf Cooperation Council are set to receive a major fillip as the biggest names...

Hope brings over 15 years of experience in the region to Egis Globally, Egis has around 16,000 professionals generating over €1 billion in revenues Global French-origin engineering consultancy Egis has appointed Bob Hope as its new Managing Director for Saudi Arabia. Hope brings over 15 years of experience in the...

Rania Nashar has more than two decades of experience in the banking sector PIF has increased its employees from 40 in 2016 to more than 1,100 employees today Saudi Arabia’s Public Investment Fund (PIF) said it appointed Rania Nashar, former CEO of Samba Financial Group, as its head of compliance...

Tadawaul Group also said revenue more than doubled It posted a profit after zakat of $133.5 million Saudi Tadawul Group, the owner and operator of the country’s stock market, said its net profit rose 227 percent in 2020 from a year earlier, while revenue more than doubled with a boost...

Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite the pandemic Trade between Egypt and Britain increased 8 percent year-on-year to £519 million ($722 million) in the first quarter of 2021, said Nasser Hamed, director of the EU Administration...

New airport would serve as base for new airline planned by country’s sovereign wealth fund Kingdom’s goal is to attract 100m tourists a year by 2030   Saudi Arabia is considering building a new airport that would serve as a base for a new airline the kingdom’s sovereign wealth fund...

Saudi cabinet authorizes finance minister to issue licenses Last year, the Saudi Central Bank (SAMA) licensed 16 financial technology companies to provide payment services Saudi Arabia’s Cabinet on Tuesday gave its nod to the Kingdom’s finance minister to issue licenses for the country’s first digital banks, the Saudi Press Agency...

*About 10,000 merchants likely to benefit from the service *Buy Now, Pay Later affords consumers a flexible installment payment option with zero additional cost or hidden fees Saudi Arabia-based E-commerce platform Salla and tech-enabled payments platform Spotii have forged a partnership to provide more than 10,000 merchants across the kingdom...

94 percent of adults each in both countries considering doing more activities virtually to reduce carbon footprint Over a third of those surveyed say they will work remotely in some form after Covid-19 restrictions are lifted More than half of the adults in the UAE (54 percent) and Saudi Arabia...

  The kingdom achieves the G5 regulator classification two years ahead of the targeted date of 2023 ITU’s G5 classification is reserved for the world’s most advanced and high-performing ICT regulators   Saudi Arabia has been upgraded to the status of fifth-generation (G5) regulator by the International Telecommunications Union (ITU),...

The merger would reduce costs and help increase investment returns The merged entity now boasts of assets worth $250 billion In the wake of the merger of Saudi Arabia’s two biggest funds, the kingdom can now compete with the world’s largest insurance investors. The Saudi Cabinet last week approved the...

“Tap to phone” solution uses near-field communication technology  The move is in line with Saudi Arabia’s goal to modernize its financial system Small traders in Saudi Arabia can now receive a payment from patrons with their smartphones, doing away with the usual practice of cash payment. Saudi Payments, owned by...

Saudi Arabia’s Bank Aljazira will issue US-denominated capital certificates that could reach up to $500 million, the Saudi bank said in a bourse filing. The sale, conducted through a Cayman Islands-registered vehicle, will only be available to pre-selected investors in a private placement, and the certificates are redeemable after five...

Colliers white paper explains why IVF popular in MENA region despite high population growth IVF one of leading treatments undertaken by medical tourists in UAE In-vitro Fertilization (IVF) market in UAE, Saudi Arabia and Egypt is estimated to be worth $1 billion, according to a white paper on the IVF...

Estonian exports to Saudi Arabia totaled $80 million in 2020 Estonian delegation presented a workshop aimed at consolidating frameworks of the joint cooperation Saudi Arabia and Estonia recently discussed ways to enhance digital cooperation, exchange experiences in the field of the digital government, and support the growth of the digital...

Dar Al Arkan tied up with Danish 3D construction printer company Cobod The first 3D construction printed house would be ready by Q4 2021 in the Shams Ar Riyadh project Saudi Arabian real-estate developer Dar Al Arkan has introduced 3D construction printing technology, or 3DCP technology, in the country, said...

Annual growth in eCommerce market expected to grow by more than 6 percent Currently, only 15 to 20 percent of orders are collected at a physical location operated by courier companies Online buying has been growing in Saudi Arabia in recent years at such speed that it is now estimated...

  Indonesia invited Saudi Arabia to invest in Bank Sharia Indonesia, the nation's largest sharia compliant bank It could also build housing in Mecca for Indonesians traveling to the kingdom for pilgrimage   Saudi Arabia and Indonesia have agreed to form a task force in order to discuss investment opportunities...