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ACWA Power secures landmark $80m bridge loan from Bank of China for Uzbekistan projects

Saudi energy giant ACWA Power has secured an $80 million equity bridge loan from the Bank of China for its Uzbekistan initiatives. According to an official press release, the payment is split equally between Chinese yuan and US dollars, marking the first loan cooperation deal by a bank from the Asian country using its native currency involving a company […]

World Bank raises Saudi Arabia’s 2025 GDP growth forecast to 5.9%

The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent. Concurrently, the […]

Saudi Shoura speaker visits Jordan to strengthen ties

Saudi Arabia’s Shoura Council Speaker Dr. Abdullah bin Mohammed Al-Asheikh arrived in Jordan on Monday for an official visit. Al-Asheikh leads a delegation from the council who were officially invited by Ahmed Safadi, the speaker of Jordan’s House of Representatives. Upon his arrival at Queen Alia International Airport in the capital Amman, he was received […]

Saudi deputy foreign minister and US envoy discuss war in Sudan

The Saudi deputy minister of foreign affairs, Waleed Elkhereiji, and the US special envoy for Sudan, Tom Perriello, held talks on Monday in Paris on the sidelines of an international humanitarian conference for Sudan and its neighboring countries. They discussed the latest developments in the war-torn country, ways in which cooperation between their countries might […]

Saudi king, crown prince send condolences to Sultan of Oman after flood deaths

King Salman and Crown Prince Mohammed bin Salman on Monday sent cables of condolences to Sultan Haitham bin Tariq after 17 people died in flooding in several parts of Oman. The Saudi leaders sent their sincerest condolences to the sultan, and the families of the deceased, the Saudi Press Agency reported. A group of school […]

Civil Defense inspects 10,047 facilities so far during Ramadan

The General Directorate of Civil Defense has so far conducted 10,047 inspections of accommodation and facilities in Makkah and Madinah during Ramadan, to ensure that they meet all safety requirements and comply with regulations. Meanwhile, the emergency forces of the Civil Defense in Makkah continue to carry out missions to maintain the security and safety of […]