The Latest Breaking News from Kingdom

The Saudi Cultural Development Fund (CDF) launched a $234.4 million program to finance the film sector in the Kingdom. The program aims to support the film industry, provide financing solutions that facilitate the work of local and foreign film companies and creative entrepreneurs, sustainably stimulate the sector’s growth, and transform…

The world credit rating agency ”S&P Global Rating” updated its credit report for the Kingdom of Saudi Arabia raising its long and short-term foreign and local currency sovereign credit ratings to 'A/A-1' with Stable Outlook. The agency indicated in its report that this rating upgrade is a result of the…

Formula One champion Max Verstappen shrugged off a stomach upset and picked up where he left off on Friday, with the Dutch driver leading Red Bull teammate Sergio Perez one-two in first practice for the Saudi Arabian Grand Prix. Aston Martin's Fernando Alonso, third in the March 5 opener in…

Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA), ruled out any transactions between Saudi banks and troubled US banks, affirming that the Kingdom’s banking sector enjoys capital adequacy and reassuring liquidity. Al-Sayari spoke with Al-Arabiya TV on the sidelines of the Financial Sector Conference in Riyadh when he added that…

A new batch of Saudi fuel derivatives arrived Thursday to the Yemeni province of Hadramout, coming from Aden and offered under the Saudi Development and Reconstruction Program for Yemen (SDRPY). The grant includes 5,500 tons of diesel and 13,000 tons of mazut and is an affirmation of the Kingdom's keenness…

Saudi Minister of Energy Prince Abdulaziz bin Salman met in Riyadh on Thursday with Russian Deputy Prime Minister Alexander Novak who is visiting the Kingdom, the Saudi Press Agency reported. They discussed global oil markets and the efforts of OPEC+ to promote market stability, SPA said. They also stressed their…

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

Saudi Minister of Finance Mohammed Al-Jadaan stressed on Wednesday that the Kingdom is committeed to the agreement it reached with Iran to restore diplomatic relations. “There are a lot of opportunities for Saudi investments in Iran and they could happen very quickly following the agreement,” he told the second edition…

The Saudi Public Investment Fund invested nearly $1.3 billion in four national companies in the contracting sector during the last period, announced Governor Yasser al-Rumayyan. Rumayyan announced the establishment of a general department for national development to determine the strategic directions in economic development and measuring impact. The group launched…

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom will not sell oil to any country that attempts to impose a price cap on its supplies, stressing that the Kingdom has embarked on expanding its capacity to 13.3 million b/d by 2027.

Saudi Arabia has risen 15 places in the World Intellectual Property Organization (WIPO) Global Innovation Index 2022, reflecting the extent of development in research, development, and innovation in the Kingdom.