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  • Taste of 2034 World Cup as Saudi Asian Cup stadiums named

    Among the venues announced Tuesday for the 24-team regional competition were the 70,000-capacity King Fahd Sports City Stadium and King Saud University Stadium, both in Riyadh, which have also been earmarked to hold World Cup games.  Likewise the 60,000 King Abdullah Sports City Stadium in Jeddah. The Asian Cup will be spread across eight stadiums. "Confirming the dates and selecting the stadiums for the AFC Asian Cup Saudi Arabia 2027 is a strategic milestone in our journey to host the tournament," said Yasser al-Misehal, president of the Saudi Arabian Football Federation.

  • Saudi Interior Ministry confirms ban on transferring or publishing security surveillance camera recordings

    Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera recordings. Security surveillance camera recordings can only be transferred or published with the approval of the ministry or the Presidency of State Security, based on a judicial order, or at the request of an investigating authority. The ministry explained that anyone who violates this rule will be punished with a fine of SR20,000 ($5,327). This includes anyone who transfers or publishes recordings in violation of the law or damages or vandalizes security surveillance camera systems or recordings.

  • Saudi Arabia sells $12 billion 3-part bond amid strong demand

     Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor demand, according to a government statement early Tuesday, with proceeds expected to help cover its budget deficit and pay down debt. The kingdom sold $5 billion, $3 billion and $4 billion in tenors of three, six and 10 years, respectively, the National Debt Management Center (NDMC) said in a statement, adding that the total order book reached around $37 billion. The issuer was able to lower the pricing on the bonds from initial guidance, fixed income news service IFR reported earlier on Monday, indicating strong investor appetite. "This transaction is part of NDMC's strategy to diversify the investors' base and meet the Kingdom's financing needs from international debt capital markets efficiently and effectively," the NDMC said. Saudi Arabia, the world's top oil exporter, has forecast a fiscal deficit of $27 billion for 2025 as it continues strategic spending on projects linked to Vision 2030, the kingdom's ambitious plan to overhaul the economy.

  • Saudi Arabia’s PIF raises $7bn from first murabaha facility as it seeks to boost investments

    Saudi Arabia's Public Investment Fund plans to raise $7 billion from its first murabaha credit facility, as the fund diversifies its funding sources to boost investments. A murabaha facility follows an Islamic financing structure which does not involve any interest payments, where the two parties agree on the contractual terms. The financing is part of the fund's medium-term capital-raising strategy and is supported by a syndicate of 20 international and regional financial institutions, the PIF said on Monday. “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia,” said Fahad Al Saif, PIF’s head of the global capital finance as well as the investment strategy and economic insights divisions.

  • Dakar Rally competitors react to grueling Stage 2 in Saudi Arabia: Video

    Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km.

  • Saudi Arabia completes arrangement to secure $2.5 bln credit facility

    Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the National Debt Management Center (NDMC) said on Thursday. The credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions, NDMC added in a statement.

  • PHOTO COLLECTION: Saudi Arabia Dakar Rally

    This is a collection of 37 photos chosen by AP photo editors.

  • Clampdown begins on Saudi’s unlicensed hospitality

    Travel and tourism service providers and booking platforms have been ordered by Saudi Arabia’s Ministry of Tourism to remove unlicensed hospitality facilities from their listings or “face penalties”.  The ruling, which came into effect from January 1, is to ensure outlets offering hospitality meet a certain standard, the ministry said in a statement.  It urged all establishments to obtain or renew their licences or face fines of up to SAR1 million ($267,000) and/or closure.  Violators may also face public shaming, the ministry said in a statement on the Saudi Press Agency.

  • Saudi Arabia to host 2026 Gulf Cup

    Adding another tournament to a busy decade of football events, Saudi Arabia will host the 2026 Gulf Cup.  The news was confirmed on the sidelines of the current Gulf Cup in Kuwait where the tournament’s general assembly unanimously awarded the finals to Saudi Arabia next year. A prestigious prize in the region, the Gulf Cup was first played in 1970. It’s the fifth time that Saudi Arabia will organise the tournament, having welcomed the regional finals in 1972, 1988,2002 and 2014. The staging represents another boost to the country’s hosting credentials. Last year, Saudi Arabia welcomed the Club World Cup, the first FIFA tournament on Saudi soil since the Confederations Cup in 1997.

  • Saudi wages rise 45% as unemployment hits historic low of 3.3% in 2024

    Wages for Saudis in the private sector rose by 45 per cent in 2024, as Saudi Arabia’s Ministry of Human Resources and Social Development reported significant strides in employment, women’s empowerment, and economic development aligned with Vision 2030 targets.The ministry highlighted the impact of women’s increased economic participation, with their labour market engagement rising to 35.8 per cent, surpassing Vision 2030 goals. Women now hold 43 per cent of middle and senior management positions. “The increase in wages and the rise in women’s workforce participation demonstrate a growing appreciation for national competencies and our efforts to improve productivity while fostering a balanced work environment,” the ministry said in a statement.