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  • Saudi Arabia unveils ‘Data Saudi’ platform to increase transparency

    Initially launched on a trial basis in September 2023, the Data Saudi platform, under the stewardship of the Ministry of Economy and Planning, has seen continuous enhancements and the addition of numerous features since its introduction. Designed as the central repository for economic and social data within the Kingdom, the platform seeks to improve data accessibility and bolster transparency regarding national economic information, aligning with the goals of Saudi Vision 2030. It offers an array of key indicators and the capacity to analyze them throughout the Kingdom's regions via visual and interactive tools, making it easier for users to obtain detailed insights into the Saudi economy and social sectors.

  • Saudi Arabia leads global innovation with tech investments: Honeywell CEO

    Saudi Arabia’s proactive leadership and investments in advanced tech solutions have positioned it as a global innovation leader, according to a top official. During the LEAP 2024, Anant Maheshwari, president and CEO of Honeywell’s Global High Growth Regions portfolio, told Arab News that Saudi Arabia was a “crucial market” for the company, being one of only “three countries globally that is led as an independent market.”

  • Saudi Arabia waives customs duties on certain goods to boost industrial sector

    Customs duties on certain manufacturing products will be waived from April 1 as the Saudi government seeks to stimulate the industrial sector. The decision, made by the Ministry of Industry and Mineral Resources, will help businesses with valid import licenses reduce their financial burden and costs associated with importing specific products and improve their competitiveness and profitability. It will also allow them to invest more in their operations, expand their production capacities, and ultimately contribute to the growth and development of the industrial sector in Saudi Arabia, according to the Saudi Press Agency.

  • Saudi Arabia Moves $164 Billion Aramco Stake to Wealth Fund

    The 8% stake transfer will cut the government’s direct ownership in the world’s largest oil company to 82%, the Saudi Press Agency said. The move will have no impact on Aramco’s dividend, which the oil giant kept at $29 billion for the third quarter despite a drop in production and weaker oil prices.

  • Ramadan 2024 in Saudi Arabia: Prayer Time, Start Date and More

    The Saudi Ministry of Islamic Affairs is yet to confirm the official date following the sighting of the crescent moon on Sunday. If the moon is observed with the naked eye on Sunday, Ramadan begins on March 11. If Shaaban, the eighth month in the Islamic calendar comples 30 days, the first day of the holy month will be on March 12.

  • NAVANTIA Delivers Fifth Avante 2200 Corvette To Saudi Arabia

    The corvette HMS UNAYZAH has a length of 104 meters, a beam of 14 and seating for a total of 102 people between crew and passengers. The contract for the construction of five corvettes entered into force in November 2018 and, since the launch of the first unit (July 2020), Navantia has already launched the five units with a period of four months between each one of them, which means achieving this milestone in a record time of three years. Deliveries are taking place after just over three years from the cutting of the first plate of each ship.

  • Saudi Arabia’s crown prince transfers another 8% of Aramco shares to sovereign wealth fund

    Saudi Arabia's crown prince transferred another 8% of shares in the kingdom's oil giant Saudi Aramco to the country's prominent sovereign wealth fund on Thursday. The shares are worth some $160 billion. Crown Prince Mohammed bin Salman's decision comes as the kingdom is trying to build a series of megaprojects and invest in sports and other fields aggressively abroad to wean the country off of relying solely on oil.

  • Saudi Arabia named ‘most improved country overall’ in US Chamber of Commerce IP Index

    Saudi Arabia has received recognition as “the most improved country overall” in the 12th edition of the US Chamber of Commerce International Intellectual Property Index. Released on March 2, the report emphasizes the several achievements of the Kingdom, with Vice President of Middle East Affairs at the US Chamber of Commerce Steve Lutes telling Arab News that Saudi Arabia has made significant strides in the technology sector over the past year.

  • Saudi Arabia’s NEOM unveils private residential golf community project Gidori

    The project’s progressive architecture centerpiece is a beach-front complex with a cantilevered structure that rises from the coastal landscape. “It will house 190 luxury sea-view apartments alongside a range of dining experiences, signature retail stores and garden spaces,” NEOM said in a statement.

  • Saudi Arabia condemns Israeli settlement expansion plans in West Bank

    Saudi Arabia on Wednesday condemned an Israeli decision to approve the development of 3,500 new settlement units in the West Bank. The Saudi foreign ministry said the Kingdom “strongly condemned” the planned settlement and attempts to Judaized large parts of the West Bank. The statement comes as an Israeli minister said the plans to construct the units had been pushed forward. Israeli settlement watchdog Peace Now said there were 3,426 homes advanced through a planning committee, across Maale Adumim and Kedar, east of Jerusalem, and Efrat, south of the city.