Saudi Arabia aiming to be a top 10 global tourist destination in 2024: minister
Saudi Arabia aspires to rank among the top 10 most successful countries in tourism this year, says the sector’s minister. Speaking during the Manafea Forum in Madinah, Ahmed Al-Khateeb outlined that the Kingdom is equipped with the capabilities and requirements to achieve this milestone, according to a statement by the ministry. He demonstrated this fact […]
Saudi Cabinet welcomes UN’s ceasefire resolution on Gaza
Saudi Arabia’s Cabinet on Tuesday reiterated the Kingdom’s backing of the UN Security Council resolution calling for an immediate ceasefire in Gaza during the Muslim holy month of Ramadan. On Monday, and for the first time in 170 days of the war in Gaza between Israel and Hamas, the UN Security Council demanded an immediate […]
Closing Bell: TASI slips for 3rd consecutive day as market turnover hits $2.65bn
Saudi Arabia’s Tadawul All Share Index slipped for the third consecutive day on Tuesday, losing 71.40 points to close at 12,585.54. The total trading turnover of the benchmark index was SR9.94 billion ($2.65 billion), with 37 of the listed stocks advancing and 191 declining. On the other hand, Saudi Arabia’s parallel market, Nomu, also shed […]
Saudi Arabia launches Digital Transformation Index 2024 amid e-government growth
The latest edition of a framework designed to enhance e-government services and accelerate digital innovation in Saudi Arabia has been launched. The Digital Transformation Index for 2024 seeks to elevate the commitment levels of the public sector to decisions and directives concerning technological evolution. Additionally, it aims to improve the quality of e-government services offered […]
Saudi crown prince receives credentials of new ambassadors to Riyadh
Saudi Arabia’s Crown Prince Mohammed bin Salman, on behalf of King Salman, received on Tuesday in Jeddah the credentials of foreign ambassadors-designate to the Kingdom. The crown prince conveyed his and King Salman’s greetings to the heads of state and wished the ambassador luck in carrying out their duties. The ambassadors expressed thanks and appreciation […]
Saudi Arabia condemns Israel’s seizing of 800 hectares of Palestinian land
Saudi Arabia has condemned Israel’s seizing of 800 hectares of Palestinian land in the West Bank, the Saudi Press Agency said early Wednesday. The Kingdom said that the move is a blatant violation of relevant international laws and is an extension of the brutal practices of the Israeli occupation’s forced settlement operations, a foreign ministry […]
Zamil Industrial Investment appoints new CEO
Zamil Industrial Investment Company, a premier business group engaged in the development of innovative solutions for use in the construction industry, has appointed Ahmed Zaatari as its Chief Executive Officer (CEO) effective March 26. Following this, the company’s Board of Directors have taken a decision on March 25 to end the assignment of Mohammad Sulaiman […]
Lucid to receive $1bn from PIF affiliate via new stock
Electric carmaker Lucid announced an additional $1 billion investment from Saudi Arabia’s Public Investment Fund in a move which saw its shares rise 18 percent. The money is coming via the company’s majority stockholder, Ayar Third Investment Co., an affiliate of the Kingdom’s sovereign wealth body. It will reach California-based Lucid through a newly created series […]
Council of Economic and Development Affairs reviews local, global issues
Local and global advances and public agencies’ performance were in focus during a virtual meeting held by Saudi Arabia’s Council of Economic and Development Affairs. Operating under the council of ministers, CEDA aims at establishing the overall governance, the mechanisms and measures necessary to achieve Saudi Vision 2030. The body addresses issues spanning all domestic […]
Saudi Arabia’s non-oil exports up 0.8%, latest official figures show
Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed. According to the report released by the Kingdom’s General Authority for Statistics, the total value of the sector, including re-exports, reached SR24 billion ($6.40 billion). Moreover, the ratio of non-oil trade rose to 35.8 percent in January, […]