Saudi Arabia calls for activating serious mechanisms to hold Israel accountable for international law violations
The Saudi Council of Ministers called on the international community to activate serious mechanisms to hold Israeli officials accountable for the ongoing violations of international laws, norms and resolutions. The weekly session of the Cabinet was chaired by Crown Prince and Prime Minister Mohammed bin Salman in Riyadh on Tuesday. In a statement to the Saudi […]
Specialists from 160 countries to attend Internet Governance Forum in Riyadh in December
Saudi Arabia will host the 19th Internet Governance Forum (IGF) from December 15-19, 2024 at the King Abdulaziz International Conference Center in Riyadh. The five-day event is expected to gather over 10,000 participants from 160 countries, including more than 1,000 international speakers. IGF is a global multi-stakeholder platform. The event, organized by the UN since […]
Saudi Vision 2030 boosts industrial facilities by 60%, official figures reveal
Bolstered by Vision 2030, Saudi Arabia’s industrial sector has witnessed a 60 percent growth in facilities since the launch of the national vision. The number of industrial establishments in the Kingdom increased from 7,206 in 2016 to 11,549 in 2023, reflecting Saudi Arabia’s efforts to diversify its economy and position itself as a global manufacturing […]
Abdullah Al-Ajmi elected chairman of newly formed Saudi-Ethiopian Business Council
The Federation of Saudi Chambers announced the formation of the Saudi-Ethiopian Business Council, following the approval of the General Authority of Foreign Trade (GAFT). Abdullah Al-Ajmi has been elected chairman of the council, while Omar Al-Kharashi and Misfer Al-Shahrani are the vice presidents. Al-Ajmi said that Ethiopia is one of the largest economic powers and […]
Saudi housing sector secures key US deals to boost real estate development
Saudi Arabia’s housing sector has strengthened its international partnerships by signing five key agreements on real estate development and financing with major US companies. The deals aim to enhance the Kingdom’s mortgage refinancing market, expand property funding, and attract foreign investments. The country’s housing program has transformed the sector by expanding financial access, streamlining regulations, […]
Saudi Arabia to achieve FDI target of $24bn in 2024: Standard Chartered
Saudi Arabia’s updated investment law and a slew of recent reforms could help the country achieve its goal of attracting foreign direct investments worth $24 billion this year, according to an analysis. In its latest report, Standard Chartered said that the Kingdom’s future economic growth will be driven by rising FDI inflow, as well as […]
Saudi Arabia’s petchem sector boosted by new digital platform
Saudi Arabia’s petrochemical sector has received a boost with the Ministry of Industry and Mineral Resources’ digital platform delivering over 100,000 tonnes of raw materials to local factories. Launched in mid-2023, the platform, named “Availability and Competitiveness of Petrochemical Raw Materials,” is designed to tackle challenges related to the surplus of locally available raw materials […]
Saudi Arabia’s residential landscape changing as smart cities rise
The evolution of smart cities in Saudi Arabia could change the residential landscape of the Kingdom, as high-net-worth individuals discover these communities are perfect destinations for setting up homes, according to experts. Smart cities integrate artificial intelligence alongside information and communications technology to derive actionable insight from infrastructure, systems and processes to enhance the quality […]
Riyadh’s Cloud Computing Economic Zone a ‘game-changer for all sectors’
A special economic zone being rolled out in Riyadh is turning Saudi Arabia into a cloud computing hub that will boost jobs and attract foreign investment, experts have told Arab News. The Cloud Computing Special Economic Zone was launched in April 2023, and is located in the Innovation Tower at King Abdulaziz City for Science […]
Saudi Real Estate Refinance Co., BlackRock to develop Kingdom’s property finance market
The Saudi real estate finance market will be supported by a deal between a Public Investment Fund subsidiary and US investment giant BlackRock. The Saudi Real Estate Refinance Co. signed the memorandum of understanding with BlackRock in New York City on Saturday, the Saudi Press Agency reported. It came during a visit by Saudi Minister […]