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The Latest Breaking News from Kingdom

Saudi Crown Prince Launches ‘Global Supply Chain Resilience Initiative’

Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs, announced on Sunday the launch of the Global Supply Chain Resilience Initiative (GSCRI). The GSCRI aims to make Saudi Arabia a location of choice for leading global industrial companies looking to drive…

Asharq Al-Awsat

Saudi National Bank’s Third Quarter Profit up 18.7%

Saudi National Bank, the Kingdom's biggest lender, said on Sunday its net profit in the third quarter rose 18.7% from the same period year before on higher operating income and lower net impairments for expected credit losses. SNB posted net profit of 4.725 billion riyals ($1.26 billion) in the quarter,…

Asharq Al-Awsat

Anne Marie, Spectacular Drone Show Kick Off Riyadh Season 2022

With a spectacular drone show, the international Cirque du Soleil and a concert by British artist Anne Marie, the largest entertainment season in the Middle East and the Arab world kicked off on Friday in Riyadh. In its third edition, the Riyadh Season festival features a whopping 15 zones. The…

Asharq Al-Awsat

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Victims of Mogadishu Terrorist Attack Arrive in Saudi Arabia for Treatment

A plane carrying six Somalis injured in a recent terrorist bombing that targeted a hotel in Mogadishu arrived on Friday at King Khalid International Airport in Riyadh, for treatment in the Kingdom. The move came in an implementation of the directives of the Custodian of the Two Holy Mosques, King…

Asharq Al-Awsat

Saudi Arabia, China Stress Importance of Reliable Oil Supplies for Market Stability

Saudi Arabia and China have agreed to cooperate in the field of "peaceful use of nuclear energy" and establish a regional hub for Chinese manufacturers to use the Kingdom's strategic location linking three continents. Saudi Energy Minister Prince Abdulaziz bin Salman held on Friday an online meeting with China’s National…

Asharq Al-Awsat

Saudi Crown Prince Announces 2nd Edition of Middle East Green Initiative at COP27

Saudi Crown Prince Mohammad bin Salman bin Abdulaziz announced the second edition of the Middle East Green Initiative (MGI) Summit on Nov. 7 and the Saudi Green Initiative (SGI) Forum on Nov.

Asharq Al-Awsat

Saudi National Industry Strategy to Support Diversifying Kingdom’s Economic Base

Saudi Arabia’s Crown Prince Mohammed bin Salman has introduced a new National Industry Strategy (NIS) that aims to triple industrial output and increase the value of the kingdom’s industrial exports to about SAR 557 billion ($148.5 billion) by 2030. Experts believe that the strategy has drawn a clear roadmap to…

Asharq Al-Awsat

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Saudi Arabia’s National Industrial Strategy to Boost Global Trade, Supply Chains Partnerships

Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef affirmed on Wednesday that the National Industrial Strategy (NIS) is an essential tool for diversifying the Kingdom’s economic base. Crown Prince Mohammed bin Salman launched on Tuesday NIS to realize the objectives of the Saudi Vision 2030.

Asharq Al-Awsat

US raises concerns after Saudis sentence American to 16 years in prison over tweets

The U.S. has raised concerns with Saudi Arabia about an American citizen whom the kingdom sentenced to 16 years in prison for posting tweets critical of the Saudi government.

Tribune News Service

Saudi Arabia Welcomes Australia's Decision to Reverse Recognition of Jerusalem as Israel’s Capital

Saudi Arabia welcomed on Wednesday the Australian government's announcement that it would no longer recognize West Jerusalem as Israel's capital. The Saudi Ministry of Foreign Affairs hoped the international community would join efforts to find a just settlement for the Palestinian cause to achieve the aspirations of the Palestinian people…

Asharq Al-Awsat

Saudi Arabia Welcomes Australia’s Derecognizing of Jerusalem as Israeli Capital

Saudi Arabia's Foreign Ministry issued a statement welcoming Australia’s decision to reverse its recognition of West Jerusalem as the capital of Israel. The statement affirmed that Saudi Arabia supports the Palestinian people’s aspirations to establish an independent state with East Jerusalem as its capital, in accordance with the international law…

Asharq Al-Awsat

Mawani: Addition of a New Shipping Service to Connect King Abdulaziz Port in Dammam to 4 Global Ports

The Saudi Ports Authority (Mawani) has announced the addition Aladin Express DMCC's shipping service, Gulf-India Express 2 (GIX2), to King Abdulaziz Port in Dammam in a bid to boost direct trade and shipping between the Kingdom and the rest of the world. MAwani said on its official site that the…

Asharq Al-Awsat

‘Troubled marriage’: Oil spat unlikely to break US-Saudi ties

Analysts say shared interests will sustain ties despite Washington’s promise of ‘consequences’ over oil production cuts.

Al Jazeera

Saudi Arabia Confirms Support for Grundberg's Efforts to Revive Yemen Truce

UN Special Envoy for Yemen Hans Grundberg is resuming regional action to revive the truce in Yemen at a time when Saudi Arabia reaffirmed its continued support for his efforts, according to the Saudi Ambassador to Yemen Mohammed Al-Jaber. In a tweet, Al-Jaber confirmed that he met Grundberg and assured…

Asharq Al-Awsat

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Asharq Al-Awsat

Riyadh Refrains from Interfering in Lebanon’s Presidential Nominations, Respects Lebanese Will

Saudi Ambassador Walid Al-Bukhari held meetings and talks to refute all rumors about the Kingdom’s withdrawal from the Lebanese political scene. Sources close to the ambassador noted that Saudi Arabia considered itself part of the international community, which is striving to secure the safety net for a sister Arab country,…

Asharq Al-Awsat

Saudi Crown Prince Launches National Industrial Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz launched the National Strategy for Industry, which aims to promote industry and attract investment, leading to economic diversification and growth of non-oil exports and GDP. The Crown Prince, also Prime Minister and Chairman of the Council of Economic Affairs and Development, said…

Asharq Al-Awsat

Saudi Arabia Renews Call for Classifying Houthi Militias as Terrorists, Drying up Their Funding Sources

Saudi Arabia has renewed its call for the international community to label Houthi militias in Yemen as a terrorist group and dry up their funding sources. During a session in Jeddah, the Saudi Cabinet reiterated the Kingdom's continued support for international peacemaking efforts in Yemen. King Salman bin Abdulaziz chaired…

Asharq Al-Awsat

Saudi Crude Oil Exports Hit 2-Year High

Saudi Arabia’s crude oil exports hit a more than two-year high of 7.6 million barrels per day in August, according to data from the Joint Organization Data Initiative. The Kingdom saw a 3% rise from July, recording its highest volume since April 2020. It was also the third month in…

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Asharq Al-Awsat

OECD Expects Saudi Arabia to Top G20 Economies for 2 Years

The real GDP growth projections of the Saudi economy are expected to reach 9.9 percent this year, and six percent in 2023, recording the highest growth rate among the G20 countries, according to a report by the Organization for Economic Cooperation and Development (OECD). The report "OECD Economic Outlook Interim…

Asharq Al-Awsat

Saudi Arabia, South Africa Stress Joint Action, Cooperation

Saudi Arabia and South Africa issued a statement after President Cyril Ramaphosa visited Riyadh, confirming the strength of bilateral relations and the importance of boosting joint action. Ramaphosa began Friday a visit to the Kingdom at the invitation of Custodian of the Two Holy Mosques King Salman bin Abdulaziz. The…

Asharq Al-Awsat

Saudi Arabia Launches Proactive Indicator for Economic Transformation

The Saudi government on Sunday launched a novel economic analysis index, known as MEPX, to monitor the performance of the Kingdom’s private sector. MEPX is a leading indicator that has been designed and developed by the economy ministry’s economic analysts to track 10 economic factors classified into four categories, consumers,…

Asharq Al-Awsat

Ten Agreements Signed at Riyadh Supply Chain Conference

Supporting the Kingdom’s ambitions for becoming a global destination for logistics services, the Supply Chain Conference held in Riyadh witnessed the signing of ten agreements that bolster the position of Saudi supply chains in the face of geopolitical challenges. Moreover, Saudi Arabia announced inaugurating 59 logistic zones to bolster supply…

Asharq Al-Awsat

King Salman Urges Peaceful Solutions, Backs Int’l Efforts to Resolve Russia-Ukraine Crisis

Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed on Sunday the importance of dialogue, negotiations and peaceful solutions in ending fighting, protecting civilians and establishing peace, security and development for all. He underlined the Kingdom’s support to international efforts aimed at reaching a political solution to the…

Asharq Al-Awsat

Khalid bin Salman: OPEC+ Decision Taken Unanimously for Economic Reasons

Saudi Defense Minister Prince Khalid bin Salman said Sunday that the decision by OPEC+ to cut oil output was taken unanimously and for purely economic reasons. “Although the OPEC+ decision, which was taken unanimously, was due to purely economic reasons, some accused the Kingdom of standing with Russia,” he said…

Asharq Al-Awsat

Saudi Economy Ministry Launches Indicator to Monitor Private Sector’s Performance

The Ministry of Economy and Planning launched on Sunday a novel economic analysis index, known as MEPX, to monitor the performance of the Kingdom’s private sector, the Saudi Press Agency reported. MEPX is a leading indicator that has been designed and developed by the Ministry’s economic analysts to track ten…

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