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  • Investors not in Saudi Arabia missing golden opportunity: Alkhorayef

    Minister of Industry and Mineral Resources Bandar Alkhorayef said that investors not investing in Saudi Arabia are missing a golden opportunity, primarily multinational companies that seek to export products to global markets. In an interview with Asharq News, he noted that the Saudi market is large and promising, allowing producers to reach global markets by offering many advantages, such as financing, industrial lands, energy, and logistics services. The minister said that all government agencies are working diligently to streamline the investor’s journey, highlighting the Kingdom’s strong competitiveness and the profitability of its industrial sectors, such as mining, energy, logistics, technical services, and infrastructure.

  • Syria’s new foreign minister to visit Saudi Arabia on first official trip

    Syria’s newly appointed foreign minister, Asaad Hassan al-Shibani, announced on Monday that his first official visit abroad will be to Saudi Arabia, following an official invitation from his Saudi counterpart Prince Faisal bin Farhan. “I have received an official invitation from His Excellency the Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Mr. Faisal bin Farhan Al Saud, to visit the Kingdom. I gladly and wholeheartedly accept this invitation and am honored to represent my country on this first official visit,” al-Shibani said on X. “We look forward to building strategic relations with our brothers in the Kingdom across all fields,” he added.

  • Calo raises $25 million Series B, eying Saudi IPO by 2027

    Saudi Arabia-HQ foodtech Calo has raised $25 million in its Series B funding round, led by Nuwa Capital, with participation from STV and Khwarizmi Ventures, along with regional family offices.

  • Saudi Arabia launches largest regional salmon production center

    Known for its dates and fruit, the central Saudi province of Hail is now stepping into the seafood scene with the launch of the Middle East’s largest salmon production center, backed by the Saudi Environment, Water, and Agriculture Ministry. The 10,000-square-meter facility features aquaponic systems, advanced water recycling, and a hatchery producing 5 million juvenile salmon annually. Once fully operational, the center will produce 10,000 tons of salmon per year, helping to cut into Saudi Arabia’s current annual imports of 23,000 tons.

  • Pricey homes and packed hotels: the year in GCC real estate

    Housing became a scarce commodity in Saudi Arabia in 2024. Expat workers flocked to Riyadh, attracted by the Vision 2030 push. Government policies boosted the home ownership rate for nationals. Rising land and construction costs also made housing and commercial units more expensive, says Imad Damrah, Colliers’ managing director for Saudi Arabia. “Freehold residential apartments in high-rise towers in Riyadh performed strongly, as did affordable National Housing Company residential communities,” Damrah tells AGBI. Residential sale numbers in the capital climbed 31 percent year on year in the third quarter, CBRE says. Average villa and apartment prices rose five and four percent respectively.

  • Window closing for Gaza hostage-ceasefire deal before Trump takes office

    Israeli and U.S. officials involved in the negotiations for a Gaza hostage and ceasefire deal tell Axios they are concerned that the odds of an agreement before President Trump takes office are slim. Trump threatened that there would be "hell to pay in the Middle East" if Hamas did not release the hostages held in Gaza by Jan. 20. President Biden also made mediating a deal a top priority for his final months in office. It isn't clear what Trump meant by "hell to pay." A source close to the president-elect said there is no plan for what to do if Trump's deadline is crossed.

  • Eminem Provided ‘Epic’ Opening to Saudi Arabia’s Massive Mdlbeast Soundstorm Music Festival That is Creating Inroads For Saudi Artists, Says Event Chief

    This year’s Dec. 12-14 edition of Soundstorm – which started out in 2019 as an electronic dance music festival – featured over 200 international artists spanning rap, rock, pop, and house music. It marked Soundstorm’s strongest lineup thanks to chart-topping artists such as Eminem, Linkin Park, and rock bands including Thirty Seconds to Mars and U.K. trio Muse, as well as hip-hop stars like Russ, G-Eazy, J.I.D., and Busta Rhymes, to name a few. Along with a host of top Arabic acts such as Lebanese artist Elissa, Syrian singer Nassif Zeytoun, and Saudi DJ and producer Cosmicat. Variety spoke to Mdlbeast CEO Ramadan Alharatani about how he attracted bigger acts from the U.S. such as Eminem who, making his first appearance in Saudi Arabia, performed his hit “Love The Way You Lie” for a crowd of more than 100,000 fans.

  • Annual rainfall up 53% in Saudi Arabia

    The annual rainfall in Saudi Arabia recorded an increase of 53.4% in 2023 compared to the previous year, according to figures from the kingdom’s General Authority for Statistics. The state agency also revealed that the amount of flood water that flowed into the kingdom’s dams last year amounted to 1,564 million cubic metres, recording an increase of 164.1% compared to the previous year.

  • Maximum fine of SR100000 for intentionally blocking or obstructing public road

    The executive regulations of the Law of the Protection of Public Facilities stipulate that anyone who intentionally damages, blocks or obstructs a public road or flood drainage passages shall be slapped with a fine of 75 percent of the cost of repairing the damaged area, not to exceed SR100000. In the event of committing the violation by a group of persons, they shall jointly bear the value of the penalty, and this does not prevent the completion of the procedures for referring the perpetrators to the competent court. The executive regulations, approved by Minister of Municipalities and Housing Majid Al-Hogail, obligate the violator to compensate for all damages caused to the public facility, including the costs of repairing the damage caused.

  • Saudi National Team Qualifies for Semi-finals of 26th Arabian Gulf Cup with 3–1 Victory Over Iraq

    The Saudi national football team has secured its qualification for the semi-finals of the 26th Arabian Gulf Cup after defeating Iraq 3–1 in its final group-stage match today. Saudi goals came from Forward Salem Al-Dawsari, who converted a penalty in the 57th minute, and Striker Abdullah Al-Hamdan, who scored in the 81st and 86th minutes. Iraq’s sole goal was scored by Forward Mohanad Ali in the 64th minute. With this victory, the Saudi team increased its points tally to six and secured its place in the semi-finals alongside group leader Bahrain.