The Latest Breaking News from Saudi Arabia

Sedco Holding Sells 15% Stake in Nahdi through First Portfolio Company IPO

SEDCO Holding, one of the largest family-owned investment groups in the Kingdom of Saudi Arabia, announced the successful listing of its portfolio company Nahdi Medical Company (Nahdi) on the Saudi Exchange main index. This marks SEDCO Holding’s first partial exit through a public share sale.

Asharq Al-Awsat · Mar 23, 2022

Saudi Arabia Seeks to Turn Financial Market into Global Investment Platform

Saudi Arabia announced its intention to launch a package of new enhancements to develop the post-trading infrastructure and increase its efficiency. The enhancements are the largest in the history of the Saudi capital market and intend to provide investors with increased investment opportunities and access to a diverse range of…

Asharq Al-Awsat · Mar 23, 2022

Economic Impact of Saudi Geospatial Information Stands at $10.6b Annually

The economic impact of geospatial information according to 7 major sectors in Saudi Arabia is estimated between SAR 22 billion ($5.8 billion) and SAR 40 billion ($10.6 billion) annually. Saudi Arabia’s General Authority for Survey & Geospatial Information, in cooperation with the World Bank, announced the results of a study…

Asharq Al-Awsat · Mar 23, 2022

Saudi Arabia Stresses Firm Stance in Resolving Ukraine Crisis Peacefully

The Saudi government stressed on Tuesday the Kingdom's firm position in supporting efforts to resolve conflicts through peaceful means.

Asharq Al-Awsat · Mar 22, 2022

Saudi Arabia Welcomes ‘Positive Points’ in Lebanese PM Statement

Saudi Arabia's foreign ministry said on Tuesday it welcomed the "positive points" in a statement by Lebanon's prime minister over the weekend. It hoped that it would help in restoring Lebanon's position and standing in the Arab world and internationally. It stressed that Saudi Arabia hopes for security and peace…

Asharq Al-Awsat · Mar 22, 2022

Saudi Arabia welcomes 'positive points' in Lebanese PM statement

Saudi Arabia's foreign ministry said on Tuesday it welcomed the "positive points" in a statement by Lebanon's prime minister over the weekend.

Reuters · Mar 22, 2022

Riyadh gets U.S. military help as Washington seeks better ties

The United States has stepped up its military support for Saudi Arabia over the past few months following missile strikes on the kingdom by the Yemeni Houthi group, Western diplomats said, an indication that Washington is trying to mend its strained ties with traditional Gulf allies.

Reuters · Mar 22, 2022

Saudi Arabia, Kuwait Agree to Develop Durra Field

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman signed a document with his Kuwaiti counterpart Mohammad al-Fares to develop the Durra gas field, Kuwait Petroleum Corporation said in a statement on Monday. The Durra field, which is shared between the two Gulf States, is expected to produce one billion standard…

Asharq Al-Awsat · Mar 22, 2022

Fears Emerge over Worsening Global Oil Prices

Saudi Arabia announced Monday that it would not bear responsibility for global oil shortages following attacks by Iran-backed Houthi militias affected the Kingdom’s production. In a statement on Monday, the Saudi Foreign Ministry has called on the international community to assume its responsibility to preserve energy supplies, in order to…

Asharq Al-Awsat · Mar 22, 2022

Oil thirst is forcing Joe Biden to pivot US back to Saudi Arabia

WASHINGTON: President Joe Biden has been reluctantly drawn into closer ties with Saudi Arabia's king-in-waiting, forced by Russia's invasion of Ukraine to rethink a standoffish approach as the US struggles to curb soaring oil prices.

The Times of India · Mar 22, 2022