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The Latest Breaking News from Saudi Arabia

CEO of TDF Highlights Potential of Saudi Tourism

Chief Executive Officer (CEO) of Saudi Arabia’s Tourism Development Fund Qusai bin Abdullah AI-Fakhri affirmed on Thursday that the Kingdom is significantly growing its tourism industry and has enormous projects and promising investment opportunities. On the third day of the activities of the Future Investment Initiative (FII), AI-Fakhri took part…

Asharq Al-Awsat

Saudi Arabia to Create Largest Venture Capital Fund Globally

Saudi Aramco announced on Wednesday the creation of a $1.5 billion sustainability fund to invest in technology to support a stable and comprehensive energy transition. This is considered one of the largest sustainability-focused venture capital funds globally. Aramco’s decision to start the fund aligns with Saudi efforts to reduce greenhouse…

Asharq Al-Awsat

First batch of New Saudi Oil Grant to Yemen Arrives in Aden

The first batch of the Saudi oil derivatives grant, worth $200 million, arrived in Aden on Wednesday. The grant comes as an extension of Saudi Arabia’s continuous support to the Yemeni people under the directives of King Salman and Crown Prince Mohammed Bin Salman. Yemenis are hopeful that the grant…

Asharq Al-Awsat

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Saudi Arabia Seeks to Double Exports, Raise Number of Factories to 36,000 in 2035

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef has revealed that the Kingdom intends to double industrial exports by 2030 and anticipates that the number of factories will reach 36,000 by 2035. He made his remarks on the sidelines of the Future Investment Initiative (FII). The minister…

Asharq Al-Awsat

Hong Kong finance chief stuck in Saudi Arabia after catching COVID

Hong Kong's Financial Secretary Paul Chan tested positive for COVID-19 during a visit to Saudi Arabia and will stay there for a "short while" to observe health requirements, the city's government said on Thursday.

Reuters

Saudia to Buy Up to 100 Lilium Electric Aircraft for Domestic Network

Saudi Arabian Airlines (Saudia) has signed an agreement with German air taxi developer Lilium to buy up to 100 of its aircraft for use on Saudia's domestic network, the state carrier's chief executive said on Wednesday.

Asharq Al-Awsat

Saudi Arabia World Cup 2022 squad guide: Full fixtures, group, ones to watch, odds and more

The Green Falcons are aiming to advance beyond the group stage for the first time since 1994

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Peter O'Toole watches to be sold at auction for up to £30k

One was a gift from the Sheik of Saudi Arabia to honour his performance in Lawrence of Arabia

Wales Online

Saudi Arabia Warns against Upcoming Economic Pressure

As the ongoing Future Investment Initiative forum in Riyadh is discussing ways to address the turbulent conditions and the immediate economic pressures in the world, economy, trade, and investment ministers presented their ideas and strategies to adapt to the current global situation. - Proactive outlook Eng. Khalid Al-Falih, the Saudi…

Asharq Al-Awsat

Saudi Arabia Tops G20 Countries in Tourism Recovery

Saudi Arabia has topped the G20 countries, which include the G20 economy, emerging market economies, and developing economies, at the level of economic recovery. Saudi ministers affirmed on Tuesday that work is underway to create a safe environment for long-term investments, as part of the sustainable development strategy. They pointed…

Asharq Al-Awsat

Future Investment Initiative: Innovation Is Key to Enhancing Global Human Capabilities

Governor of the Saudi Public Investment Fund (PIF) Yasir Al-Rumayyan stressed the need for the world to be open to innovation, highlighting the importance of investors joining efforts to achieve long-term ambitions. In remarks on Tuesday at the Future Investment Initiative forum, Al-Rumayyan said that Saudi Arabia has been able…

Asharq Al-Awsat

Saudi Finance Minister Says Next Six Months ‘Very Good’ for Gulf

Saudi Finance Minister Mohammed al-Jadaan said on Wednesday the next six months, and possibly six years, would be "very good" for the Gulf Arab countries but "very difficult" for the wider Middle East. Speaking at Riyadh's Future Investment Initiative (FII) forum, he said the next six months would be difficult…

Asharq Al-Awsat

Reema bint Bandar: Revision of Saudi-US Ties Is a Positive Thing

Saudi Ambassador to the United States Princess Reema bint Bandar underscored the strength of the ties between Riyadh and Washington, describing them as strategic and dating back 80 years. In an interview to CNN aired on Tuesday, she said the United States’ revision of bilateral relations between Riyadh and Washington…

Asharq Al-Awsat

Wall Street eager to strike deals with Saudi Arabia, despite political concerns

U.S. executives and billionaire investors are mingling and making deals at a conference nicknamed "Davos in the Desert," even as the White House reevaluates relations with Saudi Arabia.

WEKU

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Reuters

Amid oil spat, White House welcomes Saudi moves on Ukraine

The White House on Tuesday welcomed moves taken by Saudi Arabia to help Ukraine in its war with Russia as President Joe Biden ponders how tough to be against the Saudis for joining an oil output cut.

Asharq Al-Awsat

Saudi Energy Minister: Kingdom Is World’s Most Reliable Oil Supplier

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom remained the world's most reliable oil supplier. The Kingdom had increased its sales to Europe to 950,000 barrels in September from 490,000 barrels the same time a year ago, he told the Future Initiative Investment (FII)…

France 24

In Saudi Arabia, being an openly LGBT influencer can land you in prison

In Saudi Arabia, posting a makeup tutorial as a man can get you arrested. Under the kingdom's strict cyber laws, being openly gay or defying gender roles online can have severe consequences. That was the case for three LGBT influencers who have been arrested in Saudi Arabia since 2019. Our…

Al Jazeera

Saudi FM denies MBS privately derided US President Biden

Relations between the US and Saudi Arabia have nosedived after the kingdom’s decision to cut oil supply.

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Asharq Al-Awsat

UN Coordinator: Partnership with Saudi Arabia in Sustainable Development Goals Focuses on 4 Strategic Areas

United Nations Resident Coordinator in the Kingdom, Nathalie Fustier, said that partnership with Saudi Arabia was moving to a new stage, pointing to the progress achieved by the Kingdom in sustainable development. In remarks to Asharq Al-Awsat, Fustier said that the UN partnership with the Saudi government has evolved over…

Asharq Al-Awsat

GASTAT: Saudi Non-Oil Exports Increased by 16.6% in August

The General Authority for Statistics (GASTAT) said in its latest report that the value of merchandise exports in Saudi Arabia in August reached 134 billion riyals compared to 90 billion riyals during the same month in 2021, with an increase of 49.1%. The value of oil exports in August reached…

Asharq Al-Awsat

Saudi PIF Establishes Regional Voluntary Carbon Market Company

The Public Investment Fund (PIF) announced the establishment of the Regional Voluntary Carbon Market Company, where PIF holds an 80% stake and Saudi Tadawul Group Holding Company holds a 20% stake in the company.

Asharq Al-Awsat

'Lucid' Group Launches 1st Middle East Studio in Saudi Arabia

Lucid Group, setting new standards with the longest-range, fastest-charging electric car on the market, announced the opening of its first Studio in the Middle East in Riyadh. "The launch of our first Studio in the Middle East marks yet another step towards Lucid's mission to inspire the adoption of sustainable…

Asharq Al-Awsat

PIF Launches Halal Products Development Company

The Public Investment Fund (PIF) announced the launch of the Halal Products Development Company, which will invest in localizing the Halal production industry in Saudi Arabia by increasing the efficiency of the ecosystem locally. The company will also support the development of knowledge and innovation in this key industry, with…

ABC News

Australian Lamb Company sold to Minerva Foods Australia in $400 million deal

The owner of Colac's meat processing plant — one of the city's biggest employers — has sold to a Saudi and Brazilian joint venture company.

Foreign Affairs

The Saudis Need a Reality Check

Washington should pause arms sales to rein in Riyadh.

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