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  • Work permits and visas in Saudi Arabia: an employer’s guide

    Saudi Arabia is undergoing massive employment and digitization. It's phasing out of a sponsorship system and improving the overall employment ecosystem with modifications to the Labor Code and an ambitious Vision 2030.

  • Saudi Arabia commits to achieving highest global standards in terms of human rights

    Hala bint Mazyad Al-Tuwaijri, the president of the Saudi Human Rights Commission, has spoken of the Kingdom’s commitment to meeting the highest global standards in promoting and protecting human rights, as part of its Vision 2030. Al-Tuwaijri reiterated the goal in her opening statement to the Universal Periodic Review of the UN Human Rights Council in Geneva on Monday, the Saudi Press Agency reported.

  • Saudi Arabia enhances tourist experience with 1,500 new activities

    Saudi Arabia has introduced more than 1,500 activities for tourists in partnership with the private sector to improve their overall experience, said the CEO of the Saudi Tourism Authority. Speaking during the opening remarks of the second Saudi Tourism Forum in Riyadh, Fahd Hamidaddin underscored the Kingdom’s well-equipped resources required to realize its aspirations and goals, encompassing both natural and human components and support from trusted leadership.

  • Employment of Saudis in real estate sector surges to 26,000 after localization push

    The Saudi real estate sector has seen a substantial increase in local employment, with over 26,000 citizens now working in the industry, a significant leap from just 12,000 in July 2021. This 116% surge follows the government's decision to focus on localizing the sector, as announced by Eng. Ahmad Al Rajhi, Minister of Human Resources and Social Development.

    Addressing the Real Estate Future Forum in Riyadh, Al Rajhi highlighted the overall growth in the private sector workforce, with numbers rising from 1.7 million in 2019 to a record 2.3 million in 2023. Notably, 361,000 of these workers are entering the job market for the first time.

  • Real estate prices in Saudi Arabia to rise by 40%: Al Rajhi Investment exec

    Real estate prices in Saudi Arabia are likely to rise by 25% to 40% in the coming period, Asharq News reported, citing Sales Director at Al Rajhi Investment Co. Hossam Ahmed.   On the sidelines of the Real Estate Future Forum, Ahmed said that premium residency is a unique opportunity for the real estate market. It can contribute to the sector’s growth in the coming period by more than 300%.   The Kingdom is currently experiencing a real estate boom, as more than 50% of real estate traffic is concentrated in Riyadh.

  • Saudi Arabia’s Wealth Fund Joins EM Rush to Tap Bond Market

    Saudi Arabia’s sovereign wealth fund raised $5 billion of high-grade bonds on Monday, the latest borrower to benefit from investors’ demand for emerging-market debt.

    The Public Investment Fund sold five-, 10- and 30-year senior unsecured notes in US dollars, according to a person familiar with the matter. Combined order books were above $27 billion, excluding joint lead managers’ interest, said the person, who asked not to be identified because they’re not authorized to speak about it.

  • Newcastle reach agreement with Saudi Pro League side over Miguel Almiron transfer

    The deal is not done yet, though, but should it go through it would be a huge blow to Newcastle fans, with Almiron a big favourite at St James’ Park since his 2019 arrival from Atlanta United. The winger wrote himself into the club's folklore in October when he scored their first Champions League goal in two decades.

  • Inside the Iranian-Pakistani exchange of fire

    Islamabad and Tehran have each emphasized that only their own nationals have been targeted. Whether that is entirely true is another point of contention. Nonetheless, while the respective airstrikes have violated sovereignty, the lack of any local victims in the public realm provides a diplomatic off-ramp for both governments. Yet the incidents have caused a major crisis in the bilateral relationship—and raised questions about the true underlying motives involved.

  • ‘Israeli’ attacks on Quds Force challenge Iran’s deterrence strategy

    In another major attack on senior Iranian military officers in Syria, five members of the Islamic Revolutionary Guard Corps (IRGC) have been killed in suspected Israeli airstrikes. This comes barely a month after the most influential commander of the IRGC’s expeditionary Quds Force in the Levant lost his life in a similar incident. While Israel has long attacked Iranian positions in Syria, the recent string of brazen assassinations and the seniority of the targets have raised questions about Iran’s deterrence strategy.

  • Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption

    German shipping group Hapag-Lloyd (HLAG.DE), opens new tab will continue to route its vessels around the Cape of Good Hope until further notice due to Houthi attacks on vessels in the Red Sea, it said on Monday, after announcing it was introducing land corridors through Saudi Arabia to mitigate the impact on its business.
    "We continue to monitor and review the situation constantly. As soon as the situation changes, and it is safe again, we will route our vessels through Red Sea and Suez Canal," it said.