Saudi Arabia’s domestic contracts more than double to $6.9 billion

IMF expects Saudi economy to grow 2.8% in 2021

RIYADH: The value of contracts awarded in the second quarter of the year more than doubled to SR25.8 billion ($6.9 billion) in Saudi Arabia, as the kingdom continued to bounce back from the global pandemic, Arab News reported. This figure marks the third consecutive quarter of growth after the slowdown caused by the health crisis was at … Read more

Saudi Arabia aims to be among 15 top global economies with $7 trillion plan

IMF expects Saudi economy to grow 2.8% in 2021

RIYADH/JEDDAH: Saudi Arabia’s Crown Prince Mohammed bin Salman has said that the Saudi economy is expected to get SR27 trillion in government spending and investments by 2030, as the kingdom plans to be among the top 15 global economies, Arab News reported. The kingdom will invest more than SR12 trillion ($3.2 trillion) by 2030 to spur local … Read more

Saudi, Dubai ports launch development works at Jeddah Islamic Port

RIYADH: Saudi Ports Authority (Mawani) and Dubai Ports World launched the construction works for the first phase of the Southern Container Terminal development project at Jeddah Islamic Port, SPA reported. The development work will be carried out in four phases, with the project scheduled to be completed by 2024. It includes improvements that will enable … Read more

Iran dismisses nuke allegations by KSA, Europe as “baseless”

TEHRAN: Iran has dismissed as “baseless” the “allegations” made recently by Saudi Arabia and some European states pertaining to Tehran’s nuclear programme, a representative of the Islamic republic to the United Nations was quoted as saying on Friday by state TV. “As we stated earlier, the uncontested reality is that so far Iran has adhered … Read more

Saudi Arabia predicts budget surpluses from 2023

IMF expects Saudi economy to grow 2.8% in 2021

RIYADH: Saudi Arabia is forecasting budget surpluses from 2023 as the economy experiences a “noticeable and anticipated uptick,” Arab News quoted the Ministry of Finance, as saying. The kingdom will post a surplus of about SR27 billion in 2023, rising to SR42 billion in 2024, the ministry said in a report. That compares with a … Read more

Saudi Arabia’s 2022 budget deficit to narrow to $13.9 billion

Saudi inflation rate rises in September from its lowest level in 20 months

RIYADH/JEDDAH: Saudi Arabia is expecting to see a budget deficit of SR52 billion in 2022, Arab News quoted a budget forecast from the Ministry of Finance. The kingdom’s revenues are expected to reach SR903 billion, while spending SR955 billion. Saudi Arabia is expected to report a narrower budget deficit this year, amid rising oil prices and a … Read more

Saudi Arabia to spend $1.2 billion on local digital content

Saudi Arabia

RIYADH: Saudi Arabia will allocate SR4.2 billion ($1.2 billion) to develop the local digital content industry, Arab News reported. The decision follows the Cabinet’s approval of the establishment of the Digital Content Council on Tuesday. The new entity will be responsible for taking initiatives to promote the fast-growing digital content industry of the Kingdom. The council will … Read more

S&P affirms A-/Stable/A-2 sovereign rating for Saudi Arabia

IMF expects Saudi economy to grow 2.8% in 2021

DUBAI: The semi-annual review from S&P affirmed the A-/Stable/A-2 sovereign rating of the kingdom, attributing it to a positive post-pandemic performance, as well as an improvement in the oil sector dynamics, Arab News reported. Saudi Arabia’s economy will benefit from higher oil prices and its successful Covid-19 vaccine rollout, ratings agency S&P Global said, as it affirmed … Read more

Saudi Arabia aims to improve competency in industrial sector

Saudi inflation rate rises in September from its lowest level in 20 months

RIYADH: Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef revealed on Monday that the kingdom plans to build a competency-based industrial sector, Al Ekhbariya, local TV reported. He made the remarks during a meeting about the newly launched Human Capability Development Programme, highlighting that Saudi companies have high capabilities and international competitiveness. Meanwhile, … Read more

French firms keen to set up regional headquarter in Saudi Arabia

Saudi Arabia To Lift Travel Ban From May 17

PARIS: Saudi investment minister on Sunday revealed that a French construction company will join 40 other global companies in establishing their regional headquarters in Riyadh, Arab News reported. Khalid Al-Falih, however, did not name the company. Talking to Al-Arabiyah News Channel, the minister said the French renewable energy firms are keen on investing in the kingdom. The companies such … Read more

Transition to renewables to save kingdom’s businesses $13 billion

Saudi Arabia

RIYADH: The transition to renewable energy will save companies $13 billion, Arab News quoted the CEO of the National Centre for Debt Management, as saying. Speaking at the Financial Sector Conference in Riyadh, Hani Al-Madini said that many local entities are already transforming towards sustainable energy, which can decrease the expenses by SR50 billion. His … Read more

Saudi Arabia to borrow extra $6 billion; plans green bonds

IMF expects Saudi economy to grow 2.8% in 2021

JEDDAH: Saudi Arabia is SR24 billion ($6.4 billion) short of its borrowing plan for 2021 and considering issuing more green bonds, Arab News quoted the head of the Saudi national debt office Hani Al-Medaini, as saying during an interview. The kingdom plans to raise SR124 billion and it managed to get SR100 billion of that … Read more

Pakistan to seek individual trade deals with Saudi, UAE, Oman: Razak Dawood

Pakistan to seek individual trade deals with Saudi, UAE, Oman: Razak Dawood

Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates (UAE) and Oman, Adviser to the Prime Minister on Commerce Razak Dawood said. The Gulf Cooperation Council (GCC), which includes the mentioned countries along with Qatar, Kuwait and Bahrain, started talks about free trades with Pakistan in 2004. However, since 2015 the … Read more

Saudi investment chief in Kazakhstan to strengthen economic ties

IMF expects Saudi economy to grow 2.8% in 2021

RIYADH: Saudi Investment Minister Khalid Al-Falih met Kazakhstan President Kassym-Jomart Tokayev and Prime Minister Askar Mamin during an official visit to the country. The two sides discussed ways to enhance bilateral ties and bolster cooperation in different sectors. The Saudi delegation met government officials and representatives of major Kazakh companies. The visit aims at enhancing … Read more

Saudi budget discipline saved $133 billion in 4 years

Saudi inflation rate rises in September from its lowest level in 20 months

RIYADH: Saudi Arabia saved SR500 billion ($133.3 billion) over the last four years through increased efficiency and budgetary discipline, Arab News quoted Finance Minister Mohammed Al-Jadaan, as saying. The difference between planned government spending and actual budget outlays decreased from an average 16 per cent between 2014 and 2016 to an average of 4 per … Read more

PM Imran Khan congratulates Saudi Arabia on 91st National Day

PM Imran extends felicitations to Saudi leadership on Kingdom’s founding day

Islamabad: Prime Minister Imran Khan congratulated the leaders and people of Saudi Arabia on the Kingdom’s 91st National Day on Thursday. “On behalf of my government and people of Pakistan I congratulate the custodian of the two holy mosques, HM King Salman bin Abdulaziz; HRH Crown Prince Mohammed Bin Salman; and brotherly people of Saudi … Read more

Saudi Arabia celebrates its 91st birthday with fireworks and festivities

Riyadh: The Kingdom of Saudi Arabia celebrates its 91st birthday on Thursday with fireworks, flypasts and festivities, Arab News reported. The slogan for this year’s Saudi National Day is ‘A home for us.’ Saudis and foreigners who call the kingdom their home will celebrate both the transformative journey the country has embarked on over the … Read more

Saudi Arabia to celebrate its 91st National Day on September 23

IMF expects Saudi economy to grow 2.8% in 2021

DUBAI: As Saudi Arabia is celebrating its 91st National Day on September 23, the King Abdulaziz Center for World Culture (Ithra) launched a collection of Saudi cultural and heritage programmes and activities to highlight the Kingdom’s diversity, Arab News reported. Under the slogan of “Melodies of the Homeland,” the celebratory activities will start on September … Read more

Saudi crown prince, Qatari emir, UAE NSA come together for ‘brotherly meeting’

Neom: Saudi Crown Prince Mohammed bin Salman met Qatar’s Emir Sheikh Tamim al-Thani and the United Arab Emirates National Security Adviser Sheikh Tahnoun Bin Zayed Al Nahyan for a brotherly meeting on September 17, 2021 at the Red Sea. “A friendly, brotherly meeting in the Red Sea. It brings together His Highness Prince Mohammed bin … Read more

Saudi teacher travels 52 countries on a motorcycle

Saudi teacher Fahd al-Zahrani set a record for a motorcycle tour of 52 countries on three continents.

According to Al Arabiya Net, Saudi tourist Fahd al-Zahrani says he plans to explore Cape Town during the epidemic.

Fahad al-Zahrani said the tour of the South African capital was a major challenge due to health conditions.

Al-Zahrani said that he has a passion for motorcycle tourism and that he has dedicated his passion to the pride of his beloved homeland and the advocacy of his society.

He wants to show the world that Saudi society is a champion of tolerance. And is interested in establishing relations of love and peace and security with countries and nations around the world.

Al-Zahrani said he had travelled to various parts of Saudi Arabia on a motorbike to see the beauty of its historical sites.

To be rich in attractive historical and cultural treasures to travel to one part of the kingdom each month. going on an adventure is also introducing historical places from video.

He said he had visited all the cities and commissioners in the country, but that he is yet to visit Sharwar, near the Yemeni border.

Fahd al-Zahrani says that he learned a lot during his travels and many unforgettable events took place. He raised the head of his beloved homeland by donating blood to Amman.

He visited the Association of the Blind in Jordan, participated in Breast Cancer Risk Awareness Campaign in Dubai , visited Orphan Associations, participated in the Awareness Campaign on the Harms of Smoking and Tobacco, volunteered at Numerous Sports, Tourism and Recreation Fairs.

Fahad al-Zahrani is a graduate teacher. He has travelled to 52 countries since 2014. He has travelled to Jordan, Egypt and the Gulf Arab countries on a motorcycle.

He said the hardest days were the epidemic days, many of his plans and travel programs were suspended due to the Corona epidemic PCR, vaccinations, health passports, etc. are issues that are not easy to deal with.

Apart from motorcycles, Fahad Al-Zahrani also enjoys horseback riding, hiking, cooking and photography.

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Emirates continues to restructure its global network

Emirates continues to restructure its global network

Emirates has confirmed the resumption of services to Saudi Arabia, with St. Petersburg following on October 8th. Flights between Dubai and St. Petersburg will be operated four times per week, with daily flights beginning on October 21st. All flights will be operated in a three-class format on the Boeing 777-300ER. Emirates flights EK 173 and … Read more

Saudi Arabia revises up GDP figures

Saudi Princess

RIYADH: Saudi Arabia revised its GDP figures for the second quarter of this year on the back of strong growth in the private sector and non-oil activities, despite a slowdown in its oil sector, Arab News quote official data, as showing. The kingdom’s private sector grew 11 per cent in the second quarter, compared with the same … Read more

Saudi Arabia to donate $5.3 mln to poor countries for COVID-19 vaccines

saudi-arabia-coronavirus-outbreak

The Organization of Islamic Cooperation (OIC) said Saudi Arabia will donate $5.3 million (20 million riyals) to poor countries to provide COVID-19 vaccines to less established Muslim countries. The Kingdom’s donation will be protracted to 22 IOC member states. According to the OIC, Saudi Arabia also called on other Muslim nations to join the resourcefulness … Read more

Saudi food sector see 11% drop in workforce

Pakistan's Food Import Bill Increases By Whopping 52pc

RIYADH: The number of workers in the accommodation and food service activities sector dropped 11 per cent, or 46,000 quarter-on-quarter, to 386,400 in the first quarter of 2021, Arab News quoted the General Authority for Statistics data showed. The number of Saudis working in the sector declined 13 per cent, or 12,000 workers, to 78,300, accounting for … Read more

Saudi Arabia to enact new e-commerce law to boost SMEs

IMF expects Saudi economy to grow 2.8% in 2021

RIYADH: The E-Commerce Council is working on the so-called ‘e-commerce journey’ to create infrastructure and issue legislation covering the import of consumer products, Arab News reported. The council is working on measures to develop e-commerce infrastructure, enabling payment systems, postal and logistic services, and providing a package of services to medium and small enterprises. Abdul Malik Al-Tuwaijri, … Read more

Saudi cabinet prohibits ministers from joining, heading companies’ boards

Saudi inflation rate rises in September from its lowest level in 20 months

RIYADH: Saudi Arabia is prohibiting ministers from heading boards of companies or being members unless directed by the head of the cabinet, in a move that would limit the conflict of interest in companies and improve governance, Arab News reported. The new resolution was announced in the Saudi official gazette, Umm Alqura. The gazette said: Saudi Cabinet … Read more