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  • How La Liga is building bridges with Saudi Arabia and regional partners

    At the start of March, the La Liga FC Futures U14 tournament was held at the Mahd Sports Academy in Riyadh and won by Spanish club Villarreal. The competition had been organized in partnership with the Kingdom’s Ministry of Sports and saw 12 teams taking part, including eight EA Sports La Liga teams — Barcelona, Cadiz, Atletico Madrid, Sevilla, Villarreal, Real Betis and Osasuna — as well AS Roma from Italy, Portugal’s SL Benfica, Olympique de Marseille ofFrance and Saudi Arabia’s own Mahd Academy.

  • Saudi Arabia Posts Budget Deficit as Capex Spending Climbs

    Saudi Arabia recorded a sixth straight quarterly budget deficit as increased spending on capital expenditure and other areas outpaced growth in revenue. The shortfall stood at 12.4 billion riyals ($3.3 billion) in the first quarter, more than four times higher than a year ago, according to a statement from the Ministry of Finance on Sunday. On a quarterly basis, the deficit eased from about 37 billion riyals at the end of 2023.

  • ‘None go forward without the others.’ US mega-deal would tie together the futures of Saudi Arabia, Israel and Gaza

    Saudi Arabia and the United States are finalizing the details of a landmark deal to strengthen bilateral trade and defense – but an agreement will not be reached if the kingdom and Israel do not establish diplomatic relations, US officials said.

  • Saudi Arabia will ‘downscale’ some Vision 2030 projects like Neom amid ‘challenges,’ minister says

    Officials said in a press release that the credit line will support Neom's short-term financing requirements, including the development of Trojena, The Line, and the luxury island destination Sindalah. Neom's CEO, Nadhmi Al-Nasr, said: "This new credit facility, backed by Saudi Arabia's leading financial institutions, is a natural fit within our wider strategy for funding. We continue to explore a variety of funding sources as we deliver transformational infrastructure assets while supporting the wider Vision 2030 program."

  • Judge dismisses lawsuit against Saudi Arabia over 2019 Navy station attack

    A Florida judge has dismissed a lawsuit against Saudi Arabia over a 2019 mass shooting at the Pensacola Naval Air Station that killed three US service members and wounded several others.

    U.S, District Judge M. Casey Rodgers ruled last month that Saudi Arabia is protected from the lawsuit under the Foreign Sovereign Immunities Act, which limits court actions against foreign governments. The plaintiffs, who are relatives of those killed and wounded, are planning an appeal.

  • Saudi Arabia And EU Forge Energy Cooperation At World Economic Forum

    During the World Economic Forum held in Riyadh, HRH the Minister of Energy of Saudi Arabia, Abdulaziz bin Salman Al Saud, engaged in bilateral discussions with European Commissioner for Energy, Kadri Simson. The focus of their meetings revolved around enhancing energy and clean technology cooperation to fortify bilateral relations and advance the objectives set forth by the Paris Agreement and the outcomes of the UAE Consensus reached at COP28 in Dubai the previous year.

  • BlackRock signs agreement with PIF to accelerate growth of capital markets in Saudi Arabia by launching a Riyadh-based multi-asset investment management platform

    BlackRock Saudi Arabia and PIF have expressed the intention to establish BlackRock Riyadh Investment Management (BRIM), which will encompass investment strategies across a range of asset classes, all of which are expected to be managed by a Riyadh-based portfolio management team and supported by BlackRock’s industry-leading global asset management platform.
    PIF is playing a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as driving global economies and shaping the future of industries. Locally since 2017, PIF has created 94 new companies and created over 644,000 direct and indirect jobs.

  • Geothermal – Saudi Arabia’s Next Energy Vector?

    For decades, Saudi Arabia’s power sector has heavily relied on hydrocarbons for electricity generation. Their abundant supply, affordability, and differential performance have made them a top choice. A significant portion of this electricity provides power for air conditioning systems and water desalination plants.

  • Kingdom of Saudi Arabia pledges US $500 million to protect children around the world from polio and end the disease for good

    New commitment will help vaccinate 370 million children against polio every year for the next five years, protecting them from paralysis and even death, and build stronger health systems to achieve and sustain a polio-free world.

  • India’s oil imports from Russia drops 19% in February, Saudi Arabia 2nd largest supplier

    The month-on-month decline in imports from Russia comes amid lower discounts offered by Russia. Russia has been the largest source of crude for India since its invasion of Ukraine in February 2022 sparked western sanctions, prompting it offer deep discounts.