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The Latest Breaking News from Saudi Arabia

Saudi Arabia Achieves Record Growth in Promising Sectors

Saudi Arabia has achieved record growth in indicators of economic activities in promising sectors during the first quarter of this year, one of the opportunities launched by Vision 2030 for the local and foreign business sectors. According to a recent report by the Ministry of Commerce, a copy of which…

Asharq Al-Awsat

Iran Vice President: Raisi Accepts Invitation to Visit Saudi Arabia

Iranian Vice President Mohammad Mokhber revealed that President Ebrahim Raisi has accepted an invitation to visit Saudi Arabia. He made the announcement hours after Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah and his Iranian counterpart Hossein Amir-Abdollahian held telephone talks on Sunday. The FMs discussed the future steps…

Asharq Al-Awsat

What will it mean for petrol prices after Saudi Arabia cut oil production?

Brent crude oil is trading close to $85 a barrel, jumping by almost 6 per cent.

The Independent UK

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Analysis - Saudi crown prince acts to realign Mideast dynamics amid concern over US support

Saudi Arabia's unpredictable crown prince is pushing hard to realign Middle East dynamics, engaging with old foes and orchestrating OPEC oil cuts like the ones on Sunday which took the global market by surprise.

Reuters

How Veloce transformed itself to become a race-winning force in Extreme E

The 2023 Extreme E season kicked off earlier this month with back-to-back races in Saudi Arabia and one team that stood out from the rest of the competition was Veloce Racing.

Autosport

John Fury makes violent threat to "horrible" Deontay Wilder in furious rant

Deontay Wilder launched himself into fiery criticism of former three-time rival Tyson Fury last week despite the pair warmly greeting each other in Saudi Arabia, and John Fury has suggested he would have punched the American

Daily Mirror

Oil prices soar after Opec+ announces surprise production cuts

World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts despite already angering the United States with a similar move last year.

Radio France Internationale

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Reducing Oil Production: A New Pillar to Support Global Economic Conditions

In support of the stability of the global oil markets, and the enhancement of the balance between supply and demand, the member of the Organization of Petroleum Exporting Countries (OPEC) and the producing countries within the OPEC+ have decided to implement a voluntary reduction of crude oil production. Experts described…

Asharq Al-Awsat

Leaders of Egypt, Saudi Arabia meet after months of tension

The leaders of Egypt and Saudi Arabia have met in the kingdom amid months of tension between the two regional powers

The Independent UK

Boeing Affirms Support for Safe, Sustainable Aviation Market in Saudi Arabia

Boeing Co.

Asharq Al-Awsat

Egypt’s el-Sisi visits Saudi Arabia amid financial pressure

El-Sisi meets Crown Prince Mohammed bin Salman as Egypt’s economic woes deepen.

Al Jazeera

Saudi-British Partnership to Establish First Hospitality Investment Fund

A British giant in the global hospitality industry has revealed talks with Saudi authorities to establish a fund aimed at accelerating and developing investment in the kingdom’s hotel sector. CEO of Soric International Mark Blick told Asharq Al-Awsat that he recently conducted discussions with the Investment Ministry regarding ways to…

Asharq Al-Awsat

Analysis: Saudi prince pivots to peace after years of war

In the years since Saudi Crown Prince Mohammed bin Salman catapulted to power, it’s hard to find a controversy in the Middle East that doesn’t somehow involve the 37-year-old heir to the throne

The Independent UK

Oil prices soar on producer output cuts; Asian shares mixed

Oil prices have soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year

The Independent UK

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Tribune News Service

OPEC+ makes shock million-barrel cut in new inflation risk

OPEC+ announced a surprise oil production cut of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy.

Reuters

Egypt's Sisi visits Saudi Arabia amid financial pressure, regional realignment

Egyptian President Abdel Fattah al-Sisi visited Saudi Arabia on Sunday, Saudi state news agency SPA said, as Cairo seeks financial inflows to ease pressure on its currency and bolster a faltering economy.

The Independent UK

Saudis to cut oil production by 500,000 barrels per day

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023

Asharq Al-Awsat

Saudi, Iranian FMs Discuss Future Steps after Agreement to Normalize Ties

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah received on Sunday a telephone call from his Iranian counterpart Hossein Amir-Abdollahian. The officials discussed several issues of common interest between their countries. They also tackled the future steps they will take after Saudi Arabia and Iran agreed to normalize relations,…

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Asharq Al-Awsat

Saudi Crown Prince Receives Written Message from President of Djibouti

Prince Mohammed bin Salman, Crown Prince and Prime Minister, received on Sunday a written message from President of Djibouti Ismail Omar Guelleh. The message tackled the strong and close bilateral relations that bind their countries and ways to bolster and develop them in various fields. The message was received by…

Asharq Al-Awsat

Saudi Arabia, Russia, Gulf, Arab Countries Announce Voluntary Oil Output Cuts

Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production, with Riyadh saying it would cut output by 500,000 barrels per day (bpd) from May until the end of 2023, state media reported. Russia's deputy prime minister also said Moscow would extend a voluntary cut…

Reuters

Saudi Arabia to invite Syria's Assad to Arab leaders summit

Saudi Arabia is planning to invite Syrian President Bashar al-Assad to an Arab League summit that Riyadh is hosting in May, three sources familiar with the plans said, a move that would formally end Syria's regional isolation.

Asharq Al-Awsat

Saudi Fintech Sector Sees Unprecedented Growth

A report by the Washington-based Saudi-American Business Council pointed to an “unprecedented” growth in the field of startup investments. Saudi Arabia has one of the most developed financial services sectors in the Middle East and North Africa region. The report indicated that during August 2022, the Kingdom witnessed a 79…

Asharq Al-Awsat

Deputy Minister to Asharq Al-Awsat: Number of Hajj Pilgrims Will Match Figures Reached 4 Years Ago

Saudi Deputy Minister of Hajj and Umrah Dr. Abdulfattah al-Mashat predicted that this year’s Hajj will attract the same number of pilgrims as four years ago. In remarks to Asharq Al-Awsat, he said over 2.4 million pilgrims performed the Hajj four years ago. Breaking down the figure, he revealed that…

Daily Mirror

Lionel Messi transfer: Barcelona contact, PSG threats and Cristiano Ronaldo proposal

Lionel Messi faces an uncertain future with offers from Barcelona and Saudi Arabian club Al-Hilal alongside the option of renewing his contract at Paris Saint-Germain

Autosport

Russell: Mercedes to "go for it" attempting to beat Verstappen in Australian GP

Russell ended up just 0.236s behind Verstappen in Q3 at Albert Park, with his team-mate Lewis Hamilton third in the sister Mercedes, a somewhat surprise result for the Black Arrows squad after its difficult start to the new campaign and having been 0.6s off the pace in both Bahrain and Saudi…

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