Saudi energy minister: need to be proactive on oil market
Saudi Energy Minister Prince Abdulaziz bin Salman said in a Russian TV interview that it was necessary to be “proactive” on the oil market and attempt to bring stability to it. He said in the interview, conducted on Wednesday and aired on Thursday, that the market was unpredictable and “cannot be left on its own”. […]
Russia, Saudi Arabia eye mutual trade boost – ministers
Saudi Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak said on Thursday that both countries seek closer trade ties. Novak also said that Russia and Saudi Arabia have discussed lifting mutual visa restrictions.
Saudi Arabia keen to become international hub for green minerals processing: minister
The Kingdom of Saudi Arabia has set policies and built infrastructure to become a regional and global hub for green minerals processing, said Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer. The Kingdom will achieve this by utilizing its strategic position, advanced infrastructure, and high local demand, Al-Mudaifer said […]
Saudi: Governor of the Eastern region launches GCC-Iraq electricity project platform
Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Region, inaugurated the project platform for interconnecting the GCC Electricity Market with the Republic of Iraq at the headquarters of the GCCIA in Dammam today. The Eastern Region Governor stressed that the GCC electrical interconnection project aims to preserve energy security and enhance integration among […]
New CEO to head Franklin Templeton’s Saudi entity
US-based Franklin Templeton, a global leader in asset management, has appointed Muneera H AIDossary as Chief Executive Officer for Franklin Templeton Financial Company, a new entity being established in Saudi Arabia. In this newly created role, she will be responsible for expanding Franklin Templeton’s presence and business in Saudi Arabia. Based in Riyadh, Muneera will […]
Russia, Saudi Arabia to discuss oil market, prices on Wednesday – Novak says
MOSCOW – Russian Deputy Prime Minister Alexander Novak said that Russia and Saudi Arabia will discuss the oil market situation and oil prices later on Wednesday, news agencies reported, as the Israel-Palestinian conflict rages on. Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman is due to take part in an energy conference in Moscow later […]
Saudi: $177.06mln allocated by GADD through SAMI to develop local defense industry
The General Authority for Defense Development (GADD) and SAMI launched today two programs to support the localization of the defense development sector in the Kingdom of Saudi Arabia. The two programs, valued at SAR664 million, will run for 4 years and represent the first batch of GADD’s incentives programs for the sector. They include grants […]
PIF announces new investment company to boost Saudi car industry
A new investment company tasked with developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia has been announced by the Kingdom’s Public Investment Fund. Tasaru Mobility Investments will drive investments and partnerships with local and global private sector companies, according to a statement from PIF. It aims to support sector […]
Saudi Arabia’s electricity and gas supply sector sees 21.5% growth: GASTAT
Saudi Arabia’s electricity and gas supply sector grew by 21.5 percent in August compared to the same month last year, according to the General Authority of Statistics. The electricity and gas sector has consistently shown high annual expansion since the start of 2023. Factors contributing to this growth are the Kingdom’s investments in energy infrastructure, including […]
Saudi National Bank, Mastercard launch UEFA Champions League cards
Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the kingdom, offering cashback credit card and prepaid card without annual fees. Saud Bajbair head of Retail Business Group at SNB said: “SNB holds a prominent position […]