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  • Saudi Arabia’s PIF has ‘$300b in Assets’ and is Still Growing, Report Says
     

    Saudi Arabia’s sovereign wealth fund, the Saudi Arabian Public Investment Fund (PIF), has “about $300 billion in assets” now, a report has found, and its growing size is set to “improve the country’s international investment position.” “We now estimate PIF’s assets at about $300 billion, of which one-fourth are invested abroad….Proceeds from privatization (a target of about […]

     
  • Saudi Arabia, UAE and Norway Say ‘State Actor’ Likely Attacked Oil Tankers
     

    Saudi Arabia, the UAE, and Norway have told the UN Security Council that the recent attack on four oil tankers off the UAE coast was a “sophisticated and coordinated” operation most likely conducted by a “state actor,” according to reports. The three countries presented their initial findings to the U.N. Security Council in an informal meeting […]

     
  • Putin Highlights Price Difference with Saudis and OPEC+ with Key Production Decision Looming
     

    Saudi Arabia and Russia may not see eye-to-eye on the targeted price of crude oil, which could complicate the two sides’ efforts to reach a joint decision on supply, according to multiple reports. Russian President Vladimir Putin said on Thursday that Russia had differences with OPEC over what constituted an acceptable price for oil, but […]

     
  • U.S. Senators Preparing Legislation Seeking to Block Trump’s Plan to Sell $8b in Weapons to Saudi Arabia, UAE and Jordan
     

    Members from both parties in Congress are preparing legislation seeking to block President Trump’s plan for $8.1 billion in weapons sales to Saudi Arabia, the UAE and Jordan, according to reports. Last month, The Trump administration declared an emergency to bypass Congress and expedite billions of dollars in arms sales to several countries, citing the need to deter what it […]

     
  • Shawwal Crescent Sighted, Eid to be Celebrated Tuesday
     

    The Saudi Royal Court said the Shawwal crescent moon was seen in Saudi Arabia on Monday, meaning the festival of Eid al-Fitr will officially begin on Tuesday. Celebrations and observances began across the Kingdom of Saudi Arabia today. Eid al-Fitr celebrations follow the sighting of the Shawwal crescent moon. It marks the end of the holy month of Ramadan and the fasting of […]

     
  • UK Petrochemical Company INEOS will Invest $2bn to Build Three Plants in Saudi Arabia
     

    INEOS, one of the world’s largest chemical producers and oil and gas companies, is a privately owned company based in London. “On top of a combined $4bn investment recently announced in the UK and Europe, this is part of a wider Group strategy of globalisation that will stimulate growth and jobs worldwide,” the company said on Twitter. […]

     
  • Gulf Arab states support right of Saudi Arabia and UAE to defend interests
     

    Gulf Arab states voiced support for Saudi Arabia and the United Arab Emirates to take any action required to defend their security following recent attacks on their oil assets, Reuters reports. A statement published by Saudi state news agency SPA said the six nations had discussed at an emergency meeting in the kingdom a joint […]

     
  • Leaders Arrive in Saudi Arabia for Two Summits as Tensions Run High Over Iran
     

    Saudi Arabia began hosting Arab leaders for two emergency summits starting today after attacks this month on oil assets has heightened tensions with Iran, according to reports. Riyadh hopes the meetings will deliver a strong message to Iran that regional powers will defend their interests against any threat after this months attacks, Reuters reports. Saudi Arabia’s Minister of […]

     
  • Saudi Arabia Jumps 13 Places to 26th Overall in IMD World Competitiveness Ranking
     

    Saudi Arabia jumped 13 places in one ranking on world competitiveness as the Kingdom’s economic reforms continue to gather steam. 63 countries participated in the IMD World Competitiveness Yearbook 2019 issued this week. Saudi Arabia was 26th overall in the ranking, and the 7th most competitive country among its G20 peers. IMD highlighted Saudi investment in education, […]

     
  • Economy Update: Prices cool down after a year of reforms
     

    The latest official government figures on inflation for Saudi Arabia show a decline in prices after a year of reforms, according a recently released report by Jadwa Investment. Over the last year, Saudi Arabia has introduced a number of reform measures, including the introduction of a VAT, utility price reform, and other changes. The latest General […]

     

MUST-READS

  • Saudi Arabia slams Israeli statements regarding Philadelphi Corridor

    The Ministry of Foreign Affairs expressed the Kingdom’s strong condemnation and denunciation of the Israeli statements regarding the Philadelphi Corridor, and the futile attempts to justify the continued Israeli violations of international laws and norms. In a statement carried by the Saudi Press Agency, the ministry vowed its solidarity and support for Egypt in the face of these Israeli allegations.

  • Ronnie O’Sullivan gives honest feelings on Saudi Arabia Masters in traditional attire

    Ronnie O'Sullivan has branded the inaugural Saudi Arabia Masters 'the best event on tour' after paying tribute to the organisers. The snooker legend has been blown away by the facilities in Riyadh and insisted that the Saudis have set a new standard on the professional circuit.

  • Jeddah assumes Saudi Arabia Formula E hosting duties for 2025

    The Jeddah E-Prix will make its mark on the Season 11 FIA Formula E World Championship calendar, assuming hosting duties from Diriyah. Diriyah has enjoyed six seasons of hosting Formula E action, but on 14-15 February 2025, the all-electric single-seater series will move to the Red Sea Coast to race on the revised Jeddah Corniche Short Circuit.

  • CEO of major Gulf defense firm, Saudi Arabia Military Industries, steps down

    After serving four years as CEO of government-owned defense firm Saudi Arabia Military Industries (SAMI), Walid Abukhaled has resigned from his position, according to the company.

  • Saudi Arabia continues airdrops of food aid to Gaza

    Two planeload of food supplies landed in Jordan on Monday, on its way to distribute among the people of the Gaza Strip. The relief supply was airdropped in cooperation with the Jordanian Armed Forces to overcome the difficulties caused by the closure of the border crossings by the Israeli occupation forces.

  • 224 fintech companies in Saudi Arabia by end of Q2 2024: Al-Jadaan

    Minister of Finance Mohammed Al-Jadaan said the number of fintech companies in Saudi Arabia reached 224 by the end of Q2 2024, surpassing the Financial Sector Development Program's (FSDP) target of 168 companies for the same period.

  • Saudi Arabia’s 24 Fintech conference kicks off in Riyadh, highlighting sector’s rapid growth and ambitious future

    The Saudi fintech sector has witnessed a remarkable trajectory since 2018, attracting $1.84 billion in venture capital investments, according to the General Authority for Small and Medium Enterprises, or Monsha’at. Over this period, 216 Saudi-based startups have received funding, directly employing more than 6,500 people.

  • Al-Jadaan unveils Saudi Arabia’s integrated strategy to accelerate digital transformation

    Addressing the first edition of the International Conference on Financial Technology, '24 Fintech, at the Riyadh Front Exhibition and Conference Center on Tuesday, he said that the Kingdom has adopted an integrated strategy aimed at enabling and accelerating the government's digital transformation efficiently and effectively. "Saudi Arabia has targeted, since the launch of Vision 2030, accelerating the pace of transformation to advance the digital economy, as well as to ensure the sustainability of its growth and keep pace with the rapid development in the world of technology," he said.

  • Heavy rain hit the city of Jeddah in Saudi Arabia: Video

    The heavy rain in Jeddah, Saudi Arabia, had a negative impact on life. There were floods on some roads due to rainfall.

  • Cristiano Ronaldo: ‘I recommend the world’ to visit Saudi Arabia’s Red Sea

    “If you have to mention one romantic place – a place to be with my whole family – I will say that from some places that I visited this year, which surprised me a lot and we enjoyed so much is the Red Sea.” Ronaldo, who has visited numerous destinations worldwide, was particularly impressed by his recent trip to the Red Sea. “I recommend for all the world to visit this amazing place,” he said.