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  • Analysis: Saudi Arabia’s FDI Outlook

    Strong economic foundations and extensive international relations contribute to growing FDI in Saudi Arabia’s tourism, construction, electronics, and financial service sectors, among others. Correspondingly, GlobalData’s FDI database records 735 announced and 572 opened FDI projects in Saudi Arabia, between Q1 2019 and Q3 2024.

  • Energy Minister: Saudi Arabia continues work on building first nuclear power plant

    Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia continues work on building its first nuclear power plant. He also revealed that Riyadh will host International Conference on Nuclear Emergencies by the end of 2025. Addressing the 68th Session of the General Conference of International Atomic Energy Agency (IAEA) in the Austrian capital Vienna on Monday, he said that the Kingdom has completed the readiness requirements related to nuclear regulatory work. "We are continuing to implement our national project for peaceful nuclear energy, while our systems and infrastructure meet the required international regulatory requirements," he said.

  • Iran’s Pezeshkian says ‘no place for hostility’ with Saudi Arabia, ready to visit Riyadh

    Iranian President Masoud Pezeshkian expressed at a press conference in Tehran on Monday his willingness to improve Iranian-Saudi relations, calling the two nations "brothers" and adding that he would visit Riyadh when the opportunity presented itself.  In his first press conference since assuming office in July, Pezeshkian spoke about the possibility of Saudi Crown Prince Mohammed bin Salman visiting Iran. “We are brothers, so there is no place for hostility. I welcome any move that can solve the differences between Muslims,” he told the press.

  • Saudi Arabia approves first exchange-traded funds tracking Hong Kong-listed equities

    Saudi Arabia has granted approval for its first exchange-traded funds (ETFs) tracking equities listed in Hong Kong on Tuesday, the Capital Market Authority (CMA) said, marking the debut of such a product in the Middle East. The move follows efforts by Beijing and Hong Kong to deepen ties with Arab countries in response to escalating tensions with the West.

  • Saudi Arabia’s cultural renaissance under spotlight at Riyadh forum

    A five-day cultural forum organized by Fenaa Alawwal in Riyadh’s Diplomatic Quarter, and co-curated by Afikra, is exploring the theme “Introspection: the role of contemporary art practices in a time of change.” The inaugural Muntada Forum of Contemporary Art Practices opened on Sunday night and will have five panel discussions during its run until Sept. 19. There are 24 creatives exploring a diverse range of topics, which includes the role of Saudi Arabia’s artists in shaping the Kingdom’s global image.

  • 3-month midday outdoor work ban comes to an end in Saudi Arabia

    The rate of compliance of establishments with the decision to ban work under direct sunlight this year reached 94.6 percent, according to the ministry sources. During the implementation period, the ministry, in coordination with the National Council for Occupational Safety and Health, instructed employers to organize working hours and adhere to the provisions of the decision to reduce occupational injuries and diseases.

  • Saudi Arabia’s inflation rate inches up to 1.6% in August

    Saudi Arabia's annual inflation rate inched up to 1.6% in August, from 1.5% in July, government data showed on Sunday, driven by an increase in housing rents and food prices. Housing rents rose by 10.7% in August, weighing on the overall rise in prices of housing, water, electricity, gas, and other fuels by 8.9%, according to the General Authority for Statistics. The inflation rate had held steady at 1.5% in June and July, underpinned mostly by apartment rents.

  • Saudi Arabia presents space advances at G20 meeting in Brazil

    Saudi Space Agency Vice Chairman and CEO Mohammed Al-Tamimi led the Saudi delegation at the fifth G20 Space Economy Leaders Meeting in Foz do Iguacu, Brazil, from Sept. 11 to 13. This year’s meeting, initiated during Saudi Arabia’s G20 presidency, focused on “Space Economy and Climate Change: Challenges and Opportunities.” Al-Tamimi highlighted Saudi Arabia’s advances in its space sector and the Kingdom’s commitment to using space technology for sustainable development and climate change mitigation.

  • S&P Boosts Saudi Arabia Outlook, Flags Possible Ratings Upgrade

    S&P Global Ratings raised Saudi Arabia’s outlook to positive from stable and flagged the possibility for future ratings increases as the kingdom presses ahead with a massive economic overhaul aimed at diversifying revenues and boosting the non-oil sector. “The positive outlook reflects the potential that the Saudi government’s wide-ranging reforms and investments will underpin the development of the non-oil economy while upholding sustainable public finances,” S&P analysts including Zahabia Gupta said in a report on Friday.

  • Saudi Arabia winger in intensive care after fall

    Saudi Arabia international Fahad Al-Muwallad is in intensive care after falling from a balcony at his apartment in Dubai. The player's club, Al-Shabab, said an accident occurred on Thursday at a home owned by the 30-year-old. Local police confirmed that Al-Muwallad, who has represented his country 78 times, "fell from the balcony of his second-floor home".