Saudi Arabia mulls selling additional shares in Aramco to raise SR40 billion, Bloomberg reports
Saudi Arabia is considering reviving plans for a follow-on share offering in Saudi Aramco to raise at least SR40 billion ($10 billion) as early as February, Bloomberg News reported on Wednesday, citing sources familiar with the matter. The report follows the Saudi government’s directive on Tuesday to Aramco to halt its oil expansion plan. According […]
Saudi anti-corruption body targets high-ranking officials in landmark multi-million riyal cases
In a sweeping crackdown on corruption, the Saudi Oversight and Anti-Corruption Authority (Nazaha) has announced a series of arrests across various sectors on Wednesday. A former head of notary and his brother were arrested for misappropriating vast tracts of state-owned land, illegally profiting SR148 million from their sale. This case also involved a former judge […]
Saudi Arabia to host the largest-ever COP16 in December
Saudi Arabia and the United Nations Convention to Combat Desertification (UNCCD) have officially inked an agreement, marking the commencement of preparations for the 16th session of the Convention’s Conference of the Parties (COP16), set to take place in Riyadh from December 2 to December 13, 2024. The upcoming COP16 in Riyadh will make history […]
International investments surge 156pc in Saudi Arabia
Saudi Arabia’s transformational vision has seen tremendous impact on the real estate sector, contributing SR17 billion ($4.53 billion), leading to an impressive 156% surge in international investments, said Eng Thamer Al-Sadoun. The CEO of the National Transformation Programme said at the Crossroads KSA – GCC Future Impact Forum organised by the Harvard Business School Club […]
Fatima Al-Shammari named spokesperson of General Authority for Survey and Geospatial Information
The General Authority for Survey and Geospatial Information has appointed Fatima bint Fahd Al-Shammari as spokesperson and media advisor of the authority. She is tasked to enhance media and communication performance in order to achieve the authority’s goals and aspirations. Al-Shammari has diverse working relations and experience in the media, communication and public relations sector, […]
Council of Economic and Development Affairs reports over 98% performance increase
The Council of Economic and Development Affairs (CEDA) has reported a increase in performance indicators of over 98% during its recent virtual meeting. The Council discussed several reports and agenda topics, including a comprehensive analysis by the Ministry of Economy and Planning on local and international economic developments. This analysis provided insights into the latest […]
Saudi Arabia launches ‘GenAI for All’ initiative at Digital Cooperation Organization
In a move to bolster digital cooperation and artificial intelligence (AI) capabilities, Saudi Minister of Communications and Information Technology Abdullah Al-Swaha announced the launch of the ‘Generative Artificial Intelligence for All’ initiative. This initiative, aimed at the member states of the Digital Cooperation Organization, underscores Saudi Arabia’s commitment to advancing AI research, development, and ethical […]
Crown Prince and Cameron discuss regional security
Crown Prince and Prime Minister Mohammed bin Salman met with UK Secretary of State for Foreign, Commonwealth and Development Affairs David Cameron in Riyadh on Wednesday. During the meeting, the two leaders reviewed diverse aspects of bilateral relations and explored areas of cooperation as well as ways to enhance and develop them. Current regional developments […]
Saudi Arabia and Kuwait assert ownership of Durra field
Saudi Arabia and Kuwait underscored their unequivocal stance regarding the Durra field, asserting its location entirely within Kuwait’s exclusive maritime areas. They emphasized that the natural resources in the divided submerged area, including the Durra field, are shared exclusively between Saudi Arabia and Kuwait. This unequivocal stance rejects any claims of rights by any […]