Saudi Arabia unveils 2024 budget, projecting SR1172bn revenues and SR1251bn expenditures
Saudi Arabia unveiled on Wednesday the state’s general budget for the fiscal year 2024, with total revenues estimated at SR1,172 billion and expenditures amounting to SR1,251 billion. The budget, approved by a special session of the Council of Ministers held under the chairmanship of Custodian of the Two Holy Mosques King Salman, projected a deficit […]
Saudi Ministry inks agreement with University of Chicago
Saudi Arabia’s Ministry of Economy and Planning has formalized a three-year research agreement with the University of Chicago’s Division of Social Sciences in order to bridge the gap between cutting-edge research and effective public policy. This collaboration will concentrate on conducting economic research to inform social and economic policies in Saudi Arabia, fostering local talent, […]
Saudi Space Agency strikes MoU with US firm Sierra Space
The Saudi Space Agency (SSA) has signed a Memorandum of Understanding (MoU) with Sierra Space, a US leading company in the field of space technologies, to exchange knowledge, skills, and experiences and develop national capabilities and competencies in the space sector and its technologies. The MoU affirms the Agency’s commitment to expanding its global partnerships […]
Saudi SSA & Axiom Space sign sector development agreement
The Saudi Space Agency (SSA) has signed a memorandum of understanding (MoU) with Axiom Space, an American privately funded space infrastructure developer, with the aim of developing Saudi national capabilities in various areas of the space sector. The MoU was signed during an official visit of the Saudi Digital Economy, Space, and Innovation delegation to […]
Saudi wealth fund to buy stake in luxury hotel chain Rocco Forte
Saudi Arabia’s sovereign wealth fund will buy a “significant” minority stake in luxury hotel group Rocco Forte Hotels and expand into various markets, the owner of the UK’s Balmoral hotel said on Monday. Founders Rocco Forte and his sister Olga Polizzi will remain as executive chairman and deputy chair, respectively, it said, adding that the […]
Saudi FM attends GCC ministerial preparatory meeting
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan attended the activities of the 158th meeting of the Preparatory Ministerial Council for the 44th session of the Supreme Council of the Gulf Cooperation Council (GCC) in Doha on Sunday. The meeting was chaired by Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al […]
Saudi airline flynas and Brazil’s Eve Air partner for electric helicopters in Riyadh and Jeddah
Saudi budget airline flynas has signed a memorandum of understanding with Brazil-based Eve Air Mobility to explore the possibility of starting electric helicopter operations in the Kingdom. Under the deal, both parties will examine the potential of the future of electric vertical take-off and landing aircraft operations in the Kingdom in a sustainable manner. The […]
Saudi Arabia reaffirms commitment to support UNIDO
Saudi Arabia is committed to supporting the UN Industrial Development Organization in achieving its goals, according to the minister of industry and mineral resources. During his engagement at the General Conference of UNIDO held in Vienna, Austria, Bandar Alkhorayef affirmed the Kingdom’s commitment to supporting UNIDO, as reported by El-Ekhbariya. This assurance reflects the Kingdom’s […]
Japan, Saudi agree on investment cooperation
State Minister of Economy, Trade and Industry Iwata Kazuchika has held a meeting with Saudi Arabia’s Assistant Minister of Investment Ibrahim Al Mubarak in Tokyo that covered future cooperation and Saudi-Japan Vision 2030. The two ministers agreed on deepening the economic relationship between Japan and Saudi Arabia, the Ministry of Economy, Trade and Industry reported. […]
Saudi Arabia to spearhead green development vision with forum during COP28
Saudi Arabia is committing itself to a sustainable and green future through a variety of initiatives, with one of the most high-profile set to be held at the upcoming climate conference in Dubai. Alongside the UN’s COP28 summit, the Kingdom will host the third edition of the Saudi Green Initiative Forum on Dec. 4 to […]