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  • Saudi Re capital raise gets green light

    The company, which is the first reinsurance company established in Saudi Arabia, plans to increase its capital from SAR 891 million (approx. USD 238m) to SAR 1.336 billion (approx. USD 356m).

  • King appoints Adel Al-Jubeir envoy for climate affairs; Al-Harbi ambassador to China

    Custodian of the Two Holy Mosques King Salman has appointed Adel Al-Jubeir as Saudi Arabia’s envoy for climate affairs and Abdul Rahman Al-Harbi as ambassador to China. These appointments included as part of a series of royal orders issued by the King on Sunday. Al-Jubeir would continue holding his current positions of minister of state for foreign affairs and member of the Council of Ministers, while Al-Harbi was relieved of his former position as governor of General Authority for Foreign Trade, the Saudi Press Agency reported quoting the royal orders.

  • Saudi camel passport praised for ‘dedication to heritage’

    The passport features a background of green colors, with a herd of camels traveling on leveled land near a mountain. The General Directorate of Passports made no comment on the design and did not specify whether it would appear in regular or diplomatic passport categories. Many Saudis hailed the design as a dedication to national heritage and beauty.

  • Analysis: How the Ukraine conflict is reshaping global oil markets

    The reroutings mark the biggest supply-side shakeup of the global oil trade since the U.S. shale revolution altered the shape of the market around a decade ago and suggest Russia will be able to navigate a European Union (EU) oil ban, provided Asia and China continue to buy its crude.

  • Analysis: Turkey’s recurring currency nightmare strikes again

    Another 9% plunge in Turkey's lira this month and debt market danger gauges at levels last seen during the 2008 global crash have prompted investor concerns that a fresh crisis might be brewing in the country. Whether President Tayyip Erdogan's government can avoid market turmoil, just five months after the last bout, will have big implications for his re-election prospects - and for a potential return of foreign investment if he loses.

  • Pakistan Says Saudi Arabia, Dubai Won’t Lend Money Without IMF Deal

    Pakistan’s finance minister said countries that have typically been generous in lending to the crisis-hit nation are proceeding more cautiously now. “We went to Saudi Arabia, Dubai and spoken to other countries -- they are ready to give money, but all of them say we need to go to the IMF first,” said the minister, Miftah Ismail, on May 28. That’s a pivot from the past. When Pakistan went through a similar economic crisis in 2018, the nation was able to secure backing from China, Saudi Arabia and the UAE before going to the International Monetary Fund. Now, China has yet to follow through with a pledge to re-issue loans to Pakistan repaid in late March.

  • 30 French Companies to Explore Investment Opportunities in Saudi Entertainment Sector

    A total of 100 business owners and specialized Saudi companies in the entertainment sector and the national entertainment committee at the federation are planned to participate in a meeting with the French delegates to go over opportunities of holding commercial and investment partnerships between the two sides and to consider available opportunities in the entertainment sector in the Kingdom of Saudi Arabia.

  • Saudi Arabia Football Federation praises Herve Renard following 2027 contract extension

    The Saudi Arabian Football Federation say Herve Renard’s contract extension will provide the national team greater stability as they seek to build on their qualification for this year's World Cup. On Friday, the Saudi Arabian Football Federation (SAFF) announced that Renard, 53, had signed an extension to his current deal through until 2027.

  • Interior Ministry and SDAIA organize workshop on “Self-Driving Cars in Saudi Arabia: Between Reality and Hope”

    The Ministry of Interior, in cooperation with the Saudi Data and Artificial Intelligence Authority (SDAIA), organized yesterday a workshop entitled "Self-Driving Cars in the Kingdom between Reality and Hope" at the Security Forces Officers Club in Riyadh, with the participation and attendance of a number of the Ministry's employees and the relevant participating parties.

  • Canada Soccer cancels game against Iran

    The game had drawn plenty of opposition from politicians and the families of the Canadians who died aboard a Ukrainian passenger plane that was shot down near Tehran in January, 2020 by the Iranian Revolutionary Guards.