HRH the Crown Prince Congratulates the King of Morocco on the Successful Surgery He Underwent
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has sent a cable congratulating King Mohammed VI of Morocco on the success of the surgery he underwent. The Crown Prince wished the Moroccan king continued good health and happiness. SPA
The Custodian of the Two Holy Mosques Congratulates the King of Morocco on the Successful Surgery He Underwent
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has sent a cable congratulating King Mohammed VI of Morocco on the success of the surgery he underwent. The Custodian of the Two Holy Mosques wished the Moroccan king continued good health and happiness. SPA
COP16: Saudi Arabia vows to intensify action to tackle drought, land degradation
Saudi Arabia’s incoming COP16 president vowed to work with the international community to tackle drought and desertification on the first day of a UN conference in Riyadh. Abdulrahman Al-Fadli, the Kingdom’s minister of environment, used his speech at the event – being held from Dec. 2 to 13 under the theme “Our Land. Our Future” […]
Shared vision meets ambition as French President Macron begins Saudi Arabia state visit
French President Emmanuel Macron’s arrival in Riyadh for a three-day state visit is a testament to the deepening ties between France and Saudi Arabia. His visit, which follows an invitation from Crown Prince Mohammed bin Salman, reflects the shared ambition to enhance cooperation across various sectors and to align with Saudi Vision 2030 and France […]
COP16: Largest-ever UN meeting on desertification starts in Riyadh
The largest-ever meeting of the UN Convention to Combat Desertification has kicked off in Riyadh, with bolstering global drought resilience one of the key goals. Running from Dec. 2 to 13, the first few days of COP16 are set to see a number of high-profile summits, ministerial dialogues, and announcements to address the pressing challenges […]
Saudi Arabia launches 10th round of ‘Sah’ savings product with 4.83% return
Saudi Arabia has launched the 10th round of its subscription-based savings product, Sah, for December, offering a competitive return of 4.83 percent. The initiative, aimed at fostering financial stability and supporting economic growth, is Shariah-compliant and government-backed. The sukuk opened for subscription on Dec. 1 and will remain available until Dec. 3. Allocations are scheduled […]
COP16: A turning point for global land restoration and drought resilience
The 16th session of the Conference of the Parties to the UN Convention to Combat Desertification is set to be a pivotal moment in the global fight against desertification and land degradation. Scheduled for Dec. 2-13, 2024, in Riyadh, COP16 carries the theme “Our Land. Our Future.” This event aligns with the 30th anniversary of […]
Saudi banks post 3.7% loan growth in Q3 amid rising credit demand: report
Saudi Arabia’s banking sector recorded a 3.7 percent sequential increase in loans and advances in the third quarter of 2024, driven by a 4.4 percent surge in corporate and wholesale banking, according to Alvarez & Marsal. Deposit growth lagged behind, rising 1.4 percent during the same period, as credit demand continued to outpace deposit mobilization. […]
Nine major deals worth $9.3bn signed at Riyadh WIC
Nine transformative investment deals under Saudi Arabia’s Global Supply Chain Resilience Initiative (GSCRI), valued at over $9.3 billion, were unveiled on Tuesday at the 28th World Investment Conference (WIC) in Riyadh. The deals include major projects such as copper smelting and refining facilities with Vedanta, advanced titanium projects with AMIC and Tasnee, and rare earth […]
Saudi Arabia announces $340bn spending for FY2025
Saudi Arabia’s Ministry of Finance today (November 26) announced the state budget for FY 2025 with revenues projected at SAR1.18 trillion ($315.7 billion) and expenditure at SAR1.28 trillion ($340 billion). These estimates indicate a deficit of SAR101 billion ($26.8 billion), which represents about 2.3% of GDP, reported SPA. The figures align with projections from the […]