Saudi Aramco posts $106.2bn profit for 2024
Saudi energy giant Aramco reported a net profit of SR398.42 billion ($106.2 billion) in 2024, despite challenging market conditions, including lower prices for crude oil, refined products, and chemicals. In a press statement, the company revealed that its net profit declined by 12.39 percent from $121.3 billion in the previous year. Despite the earnings decline, […]
Saudi Arabia’s non-oil sector maintains strong growth, latest PMI report shows
Saudi Arabia’s non-oil private sector continued its strong growth in February, driven by strong customer demand, increased hiring, and a positive economic outlook. According to the latest Riyad Bank Purchasing Managers’ Index report, the score stood at 58.4, reflecting sustained increases in business activity despite a slight dip from January’s decade-high reading of 60.5. The […]
Saudi, Lebanese leaders reaffirm commitment to Taif Agreement and Lebanon’s sovereignty
Leaders of Saudi Arabia and Lebanon emphasized the importance of enhancing Arab cooperation and coordinating positions on regional and international issues, Saudi state news agency SPA reported on Teusday. Both sides reaffirmed the necessity of fully implementing the Taif Agreement. This agreement, which ended Lebanon’s civil war, was negotiated in Saudi Arabia, in 1989. They also stressed […]
Saudi defense minister meets senior US officials in Washington
Saudi Defense Minister Prince Khalid bin Salman met with US Secretary of State Marco Rubio at the State Department on Tuesday. The pair reviewed Saudi-US relations and the shared vision of both nations. They discussed their nations’ common vision to “overcome shared challenges and promote international peace and security,” the minister wrote on social media […]
New Riyadh Metro station opens to the public
A new station on the Riyadh Metro opens to the public at 6 a.m. on Wednesday morning. The Royal Commission for Riyadh City said Qasr Al-Hokm is one of four key stations in the Metro network, serving as a vital hub linking the Blue and Orange lines with the city’s bus services. The stop is […]
Lucid CEO steps down, company expects to more than double vehicle production this year
Electric vehicle maker Lucid Group said on Tuesday that Peter Rawlinson, its CEO for over 5 years, is stepping down from the role, and forecast its vehicle production will more than double this year, sending the company’s shares up 10 percent in extended trading. Through his 12-year tenure as part of the top brass at […]
Saudi Arabia raises $2.36bn in euro bonds, including inaugural green tranche
Saudi Arabia has raised €2.25 billion ($2.36 billion) through a euro-denominated bond sale, including its first green tranche, as part of its Global Medium-Term Note Issuance Program. In a press statement, the Kingdom’s National Debt Management Center said the offering, split into two tranches, saw an oversubscription of four times the issuance size, attracting around […]
HRH Crown Prince Receives Russian Direct Investment Fund Chief
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, received at his Al-Yamamah Palace office Russian Direct Investment Fund Chief Executive Kirill Dmitriev. During the reception, they reviewed areas of bilateral coordination in investment matters and discussed economic issues. The reception was […]
HRH the Crown Prince Chairs Cabinet Session
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, chaired the Cabinet session held here today. HRH the Crown Prince briefed the Cabinet on his recent talks with President Emmanuel Macron of the French Republic and US Secretary of State Marco Rubio. During these talks, he discussed relations […]
Upon HRH the Crown Prince’s Directives, Riyadh Hosts Russia-US Talks
Upon directives from His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Riyadh today hosted talks between the Russian Federation and the United States of America, attended by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Minister of State and Cabinet Member Dr. Musaed bin […]