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  • Saudi Arabia club Al-Hilal says contract with Neymar has been terminated by mutual consent

    Saudi Arabia club Al-Hilal said Monday it reached an agreement with striker Neymar to terminate his contract by mutual consent. Neither side confirmed details of the termination after the 32-year-old Brazilian, once hailed as one of the world’s best players, played only seven matches for the club, with only one goal and two assists. Despite being sidelined since October 2023 due to an ACL injury, former Barcelona and Paris Saint-Germain star Neymar was part of the squad that won last season’s Saudi league. Their deal was due to expire after Al-Hilal’s participation in this year’s FIFA Club World Cup, which will be played between June 15 and July 13 in the United States.

  • Saudi Arabia raises local workforce quotas across key sectors

    Saudi professionals in dentistry, pharmacy, accounting, and technical engineering will soon see expanded job opportunities as the Kingdom rolls out new Saudization targets under its Vision 2030 plan. The HRSD, in collaboration with health, commerce, and housing authorities, is now focused on localizing 269 professions. The initiative builds on earlier measures, such as increasing Saudization rates in radiology to 65 percent, medical laboratories to 70 percent, and physiotherapy and therapeutic nutrition to 80 percent last October. Effective July 27, community pharmacies and medical complexes will be required to achieve a 35 percent Saudization rate, hospitals 65 percent, and other pharmacy-related businesses 55 percent, according to a Ministry of Human Resources and Social Development announcement. These rules will apply to companies employing five or more pharmacy professionals.

  • GCC ranks 6th globally in goods trade volume

    The Foreign Trade Report of the Gulf Cooperation Council (GCC) countries 2023 issued by the GCC Statistical Centre “GCC-Stat” indicated that the GCC came sixth on the list of top countries worldwide in the volume of trade in goods index. The GCC countries accounted for 3.4% of the total volume of global trade in goods, with a value amounting to 1.5 trillion US dollars in 2023, logging a decrease of 4.0% compared to the figures recorded in the previous year. The GCC countries came third globally on the list of top countries worldwide in the merchandise trade balance index in 2023, with a value of 163.7 billion US dollars, compared to 381.3 billion US dollars recorded in 2022, which marked a decrease of 57.1%. The report revealed that the GCC countries ranked fifth among the top countries worldwide in the index of total commodity exports in 2023, with a share of 3.1% of the total volume of global commodity exports, which amounted to 0.8 trillion US dollars in 2023, with a decrease of 14.5% compared to the figures recorded in the previous year.

  • Saudi Arabia invests over $500bln in developing environmentally friendly tourist destinations: minister

    Al-Khateeb highlighted the remarkable achievements of Saudi Arabia's tourism sector and its dedication to environmental sustainability under the framework of Vision 2030. He cited projects such as AlUla and The Red Sea, showcasing how sustainability is integrated at every stage, from design to implementation. He also referred to the Saudi Green Initiative and Green Riyadh launched by Crown Prince and Prime Minister Mohammed bin Salman, reaffirming the Kingdom's commitment to planting millions of trees by 2030

  • Saudi Arabia must punch its weight on global stage: minister

    "We are a key player in the world, the world economy, and we need to punch at our weight", Finance Minister Mohammed al-Jadaan said on the sidelines of the annual World Economic Forum in Davos. "We need to make sure that emerging economies and low income countries' voice is heard," al-Jadaan said. "This is why we are really protecting, in every possible way, their interests in these multilateral institutions," he said, stressing that emerging economies were "becoming actually larger than advanced economies in total population and size of economy." "Collectively, they need to be represented in the table."

  • 500 Global Launches New Fund Led by Amjad Ahmad to Fuel MENA’s Next Wave of Tech Champions

    500 Global, a leading global venture capital firm, today announced the launch of 500 MENA, L.P. (the “Fund”), a new fund dedicated to investing in high-growth technology startups across the Middle East and North Africa (MENA) region both from outside and inside the current 500 Global portfolio. This strategic move positions 500 Global to support startups beyond the seed stage and aims to catalyze further the growth of the MENA region's burgeoning tech ecosystem. The Fund will invest primarily in startups with proven product-market fit and significant growth potential, addressing the critical funding gap MENA founders face, particularly in the expansion stage. 500 Global aims to actively support these companies through their extended international network and comprehensive platform, empowering them to build and scale innovative solutions regionally and globally.

  • Saudi Arabia to Host Regular World Economic Forum Global Meeting

    Building on the success of the World Economic Forum Special Meeting held in Riyadh in April 2024, this new development solidifies Saudi Arabia’s position as a central player in shaping the global agenda. The Kingdom’s bold leadership and determination to foster global dialogues between developed and developing economies and drive inclusive global growth make it an ideal host to address complex global challenges with the WEF community. The Kingdom of Saudi Arabia will host a regular high-level World Economic Forum (WEF) global meeting in Riyadh, with the first slated for the Spring of 2026, it was announced today. The announcement was made today by His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, and Børge Brende, World Economic Forum President, on the final day of the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland.

  • Trump turns vs hawkish ex aides as he hopes for deal with Iran

    Trump on Wednesday said he hoped that his administration could reach a deal with Iran that would avoid the prospect of potential military action by Israel or others. “Iran, hopefully, will make a deal,” Trump told reporters at the White House on Wednesday. “And if they don’t make a deal, I guess that’s okay too.” Trump confirmed that he had ordered the removal of U.S. government security details for his former National Security Advisor John Bolton, former Secretary of State Mike Pompeo, and his former Iran envoy Brian Hook, as well as for former top U.S. infectious diseases expert Dr. Anthony Fauci, who advised the Trump administration during the covid-19 pandemic, and became the target of wrath from some on the far-right upset about covid lockdowns. Trump said today that he would feel no sense of responsibility were any of them to be targeted by violence as a result of his actions.

  • Saudi Arabia in talks to host MMA facility at Qiddiya

    Saudi Arabia has been identified as a potential host for a multi-use mixed martial arts facility akin to the Ford Center at The Star in the US, the head of MMA organisation the Professional Fighters League (PFL) has said. The Star is a partnership between the city of Frisco in Texas and the Dallas Cowboys football team. The $1.5 billion project, totalling 400,000 square feet, features more than 30 flexible event spaces that include a 12,000-seat indoor venue. Donn Davis, chairman and founder of the PFL, said early discussions with officials in Saudi Arabia about a similar project had already taken place. It would be based in the kingdom’s $9.8 billion sports and entertainment giga-project Qiddiya.

  • Saudi: Diriyah Storytelling Festival celebrates literature, creativity

    The Diriyah Storytelling Festival, a vibrant event for literature lovers, will begin on January 30. The much-anticipated event promises a rich cultural experience, running until February 8 and will be hosted at three iconic locations in Diriyah: Bujairi Terrace, Bab Samhan Hotel and Al-Dhawihra Farm. These venues will provide distinctive backdrops for a variety of immersive activities. The festival will host more than 150 speakers, experts and performers in the field of literature. This impressive lineup is complemented by the participation of over 50 publishing houses and specialized libraries, setting the stage for meaningful interactions between visitors and industry experts.