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The Latest Breaking News from Kingdom

Saudi Industrial Activity Witnesses Remarkable Rise

Official data issued by the Saudi authorities revealed a rise in industrial investment in the Kingdom, confirming the successful endeavor to overcome the repercussions of the Covid-19 pandemic. The Ministry of Industry and Mineral Resources announced that 261 industrial facilities started their operations within the Kingdom in March, with an…

Asharq Al-Awsat

Saudi Fashion Commission Signs MoU with Fawaz Alhokair and Partners to Support Designers

The Saudi Fashion Commission has signed a Memorandum of Understanding (MoU) with Fawaz A. Alhokair and Partners Company to bolster cooperation between the two entities to support Saudi fashion designers, reported the Saudi Press Agency. The agreement was signed at the Ministry of Culture headquarters in the presence of Burak…

Asharq Al-Awsat

Saudi Arabia Stresses Importance of Cooperation to Support Global Economic Recovery

Saudi Arabia underlined the importance of international cooperation to support global economic recovery and prevent negative repercussions amid the current international circumstances. Saudi Minister of Finance Mohammad Al-Jadaan revealed the Kingdom’s continuous efforts to support people and countries in need, including its recent provision of urgent support in the amount…

Asharq Al-Awsat

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Saudi GDP Expected to Grow to $895 Bln in 2025

A Saudi economic indicator announced on Wednesday its estimates that the Kingdom's GDP will reach SAR 3 trillion ($895 billion) in 2025, emphasizing the balanced growth of the national economy during the last period. The index, run by the Research and Information Center at the Chamber of Commerce and Industry…

Asharq Al-Awsat

Saudi Call for Financing First International Fund to Support Global Tourism Sector

Saudi Arabia called on donor countries to participate in financing the first international fund dedicated to supporting the tourism sector.

Asharq Al-Awsat

Saudi Cabinet Affirms Kingdom’s Support for Political Solution to Russia-Ukraine Crisis

The Saudi Cabinet on Tuesday affirmed the Kingdom’s support for efforts that led to a political solution to the Russia-Ukraine crisis to achieve security and stability. It reiterated standing by needy people around the world and alleviating their suffering, including providing urgent medical and shelter aid worth $10 million for…

Asharq Al-Awsat

Saudi Arabia Seeks to Open New Markets to Confront Global Supply Chain Crisis

The Council of Saudi Chambers (CSC) is seeking to open new markets to achieve food security for essential commodities amid the global supply chain crisis. The food supply chain crisis led to an increase in the prices of many food commodities and raw materials, and its impact included the oil…

Asharq Al-Awsat

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Law on Real Estate Ownership and Investment by Non-Saudis Amended to Boost Competitiveness

Saudi Arabia amended the Law on Real Estate Ownership and Investment by non-Saudis to increase and improve the efficiency and effectiveness of the procedures and controls related to the ownership or use of real estate by foreigners, who enjoy natural and legal capacity in cities and economic zones in the…

Asharq Al-Awsat

Saudi Arabia Converts $300M Deposit with Mauritania’s Central Bank Into Soft Loan

Saudi Arabia has transferred its $300 million deposit with the Central Bank of Mauritania into a soft loan, as part of the Kingdom’s ongoing efforts in supporting the development and economies of Arab and Islamic states, the Saudi Press Agency reported on Sunday. It said the move came in implementation…

Asharq Al-Awsat

Saudi Arabia Condemns Desecration of Quran, Incitement against Muslims

Saudi Arabia condemned on Monday the desecration of the holy Quran by extremists in Sweden and their incitement against Muslims. The Foreign Ministry stressed the Kingdom's keenness on promoting dialogue, tolerance and coexistence and shunning hatred and extremism. It also stands against offenses to all religions.

Asharq Al-Awsat

Saudi Crown Prince Reaffirms to Putin the Kingdom’s Support for Reaching Political Solution in Ukraine

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, received a phone call from Russian President Vladimir Putin on Saturday. During the call, the two leaders reviewed bilateral relations between the two countries and ways to boost them in various fields. The Crown Prince reaffirmed the…

Asharq Al-Awsat

Morocco Resorts to Liquefied Natural Gas following Algeria Pipeline Crisis

Morocco has officially entered the international liquefied natural gas (LNG) market, Energy Minister Leila Benali reveled on Friday. She told a press conference in Rabat that this is the first time the Kingdom resorts to LNG to secure its energy needs. Benali said that Morocco has agreed with Spain and…

Asharq Al-Awsat

Fitch Affirms Saudi Arabia’s Rating at A, Revises Outlook to ‘Positive’

Fitch Ratings revised on Thursday the outlook for Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from “stable” to “positive”, while affirming the rating at "A". The Kingdom's rating reflects improvements in the sovereign balance sheet due to higher oil revenues and commitment to fiscal consolidation. The global ratings agency…

Asharq Al-Awsat

Tradition forward

"Noppagao", a word that is special in Thai as it includes "gao" or "nine", which is regarded as the luckiest of all lucky numbers. At the same time, "noppagao" represents nine gems, each associated with a unique benefit or blessing. These precious stones feature in the insignia of the Kingdom's…

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Asharq Al-Awsat

Arab Parliament Commends Saudi Support for Yemeni Economy

Arab Parliament Speaker Adel bin Abdulrahman Al-Assoumi has commended Saudi Arabia's announcement of $3 billion in financial aid to help the Yemeni economy. In a statement issued Thursday, Al-Assoumi appreciated the efforts of the Kingdom and the United Arab Emirates, their constructive initiatives and persistent endeavors in Yemen to reach…

Asharq Al-Awsat

Bahrain Records Improvement in Economic Sector Indicators

Bahrain’s Ministry of Finance and National Economy has announced continued improvement in the financial and economic indicators of various economic sectors during Q1 2022, exceeding the pre-pandemic 2019 benchmarks. This improvement comes in line with the Kingdom’s launching of its economic recovery plan, which includes initiatives and strategies targeting several…

Asharq Al-Awsat

Saudi Crown Prince Receives Phone Call from UN Chief

Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister and Minister of Defense, received a phone call on Wednesday from UN Secretary-General Antonio Guterres, the Saudi Press Agency reported. During the telephone conversation, they discussed the regional and international developments, it said. The UN chief expressed his gratitude for…

Asharq Al-Awsat

Saudi Arabia, Kuwait Stress Their Right to Exploit Durra Field

Saudi Arabia and Kuwait stressed on Wednesday their right to exploit the natural resources in the Durra field. They invited Iran to negotiations over the delineation of the eastern border of the Submerged Divided Zone. The Saudi Foreign Ministry tweeted that the Kingdom and Kuwait had signed a Memorandum of…

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Asharq Al-Awsat

Saudi, Kuwaiti Ambassadors Meet with Lebanon’s Political and Religious Leaders

The Saudi and Kuwaiti ambassadors have visited Lebanon's political and religious figures to address the country's needs. The Saudi Ambassador, Waleed Bukhari, and Kuwaiti Ambassador Abdul-Aal al-Qinai arrived in Beirut last Friday after the Saudi Foreign Ministry announced in a statement that its Ambassador returned in response to calls by…

Asharq Al-Awsat

Saudi Govt Stresses Kingdom's Full Support to Yemen's Leadership Council

The Saudi government stressed on Tuesday the Kingdom's keenness that Yemen achieve security, stability and prosperity. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Jeddah. The government underscored Riyadh's full support to the Yemeni Presidential Leadership Council as it is…

Belfast Live

Kerry come from behind to deny Armagh promotion in Division Two decider

Danielle O'Leary's 1-2 salvo helped the Kingdom claim a hard-fought victory in Croke Park

Asharq Al-Awsat

Saudi Arabia Orders Investors to Maintain Environmental Standards, Develop Local Infrastructure

Saudi Arabia has asked investors to maintain environmental and social standards and contribute to social responsibility. Following the new investment law, Riyadh asserted that new investors must work from their headquarters inside the Kingdom, provided that the Ministry of Investment facilitates the required procedures. Asharq Al-Awsat learned that the Federation…

Asharq Al-Awsat

Saudi Sovereign Wealth Fund Announces Joint Venture with Boeing

SAMI group, a wholly owned subsidiary of the Public Investment Fund and the Kingdom’s national defense localization champion, has announced a preliminary agreement with Boeing. Under the terms of the agreement, both companies will enter into a Kingdom-focused joint venture. The announcement was made at a signing ceremony during the…

Asharq Al-Awsat

Electric Vehicles … A Saudi Step Towards Establishing Sustainable Transportation

The announcement made by Lucid Group, an American electric vehicle manufacturer, on signing several agreements with Saudi government agencies, paving way for laying the groundwork for a full production factory in Saudi Arabia, is an important step that shows the competitiveness of the Kingdom in becoming a perfect investment destination…

Asharq Al-Awsat

Saudi Arabia Expands Hajj to 1 Mln Pilgrims

Saudi Arabia will let up to 1 million people join the Hajj pilgrimage this year, greatly expanding the key event to participants from outside the Kingdom, state media said on Saturday. Pilgrims to Makkah this year must be under age 65 and fully vaccinated against the coronavirus, the ministry of…

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