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The Latest Breaking News from Kingdom

Saudi Arabia Works on Strengthening Legislation Frameworks to Combat Money Laundering

Saudi authorities have been keen on strengthening legislative and regulatory frameworks to combat money laundering crimes, confirmed Deputy Governor for Supervision at the Saudi Central Bank (SAMA) Yazeed AlSheikh. Speaking at the 14th Compliance and Anti-Money Laundering (CAML) seminar in Riyadh, AlSheikh reaffirmed that the Kingdom attaches great importance to…

Asharq Al-Awsat

King Salman: Saudi Arabia Spares No Effort in Providing Comfort, Safety to Two Holy Mosques' Guests

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, affirmed that Saudi Arabia spares no effort in ensuring comfort and safety for the guests of the Two Holy Mosques, including pilgrims, Umrah performers, and visitors. King Salman asserted that the Kingdom provides all services from the guests' arrival…

Asharq Al-Awsat

Saudi Arabia Strongly Condemns Israel’s Decision to Allow Re-settlement in Northern West Bank

Saudi Arabia on Wednesday strongly condemned a decision taken by the occupying Israeli authorities to allow re-settlement in the areas of the northern West Bank in Palestine. “The Ministry of Foreign Affairs expressed the Kingdom’s strong condemnation of this decision, which is a flagrant violation of all international laws, contributes…

Asharq Al-Awsat

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Saudi Arabia Underscores Values of Coexistence, Mutual Respect Among Peoples

The Saudi government reiterated on Tuesday the Kingdom’s firm stance that calls for bolstering coexistence and mutual respect between people around the world. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh. The ministers highlighted the Kingdom’s participation at the…

Asharq Al-Awsat

Saudi Arabia Slams Offensive, Racist Israeli Remarks against Palestine

Saudi Arabia condemned on Tuesday the offensive and racist remarks made by an Israeli minister against the state of Palestine and its people. The Foreign Ministry underscored the Kingdom’s rejection of such baseless statements that only stoke hatred and violence and undermine international efforts for peace and dialogue.

Asharq Al-Awsat

Saudi Culture Ministry Introduces Three New Fonts to Celebrate Kingdom’s Culture

Saudi Arabia’s Ministry of Culture on Monday launched an initiative creating three new Saudi fonts in celebration of the Arabic language. In a statement, it said it is “introducing a unique touch that gives a Saudi identity to Arabic fonts and celebrates Saudi heritage and cultural symbols.” The fonts, celebrating…

Asharq Al-Awsat

Saudi Arabia Calls for Sighting of Ramadan Crescent Moon on Tuesday

Saudi Arabia’s Supreme Court called on all Muslims throughout the Kingdom to sight the crescent moon of the holy month of Ramadan on Tuesday evening. It called on whoever sights the crescent moon by naked eyes or through binoculars to report to the nearest court and register their testimony, or…

Asharq Al-Awsat

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Rating Agencies Raise Saudi Economy Rating with Positive Outlook

Rating agencies have upgraded the Saudi economy to a “positive” and stable outlook. They affirmed that the structural reforms have been reflected in the tangible progress in economic development and the support of diversification policies, especially in the non-oil sector. S&P Global Ratings upgraded its credit report for Saudi Arabia,…

Asharq Al-Awsat

Jordan Launches Project to Explore Lead, Zinc, Gold

Jordan's Energy and Mineral Resources Minister Saleh Kharabsheh launched Saturday a project to explore lead, zinc, and gold in the Samrat Teibah area in Wadi Araba. Jordan News Agency (Petra) quoted Kharabsheh as saying that the Ministry of Energy is carrying out the project within the framework of a national…

Asharq Al-Awsat

Saudi Arabia Supports Film Sector with $234.4 Million

The Saudi Cultural Development Fund (CDF) launched a $234.4 million program to finance the film sector in the Kingdom. The program aims to support the film industry, provide financing solutions that facilitate the work of local and foreign film companies and creative entrepreneurs, sustainably stimulate the sector’s growth, and transform…

Asharq Al-Awsat

'S&P' Raises Saudi Arabia's Credit Rating to A/A-1 with Stable Outlook

The world credit rating agency ”S&P Global Rating” updated its credit report for the Kingdom of Saudi Arabia raising its long and short-term foreign and local currency sovereign credit ratings to 'A/A-1' with Stable Outlook. The agency indicated in its report that this rating upgrade is a result of the…

Asharq Al-Awsat

Verstappen Leads Red Bull One-Two in First Saudi Practice

Formula One champion Max Verstappen shrugged off a stomach upset and picked up where he left off on Friday, with the Dutch driver leading Red Bull teammate Sergio Perez one-two in first practice for the Saudi Arabian Grand Prix. Aston Martin's Fernando Alonso, third in the March 5 opener in…

Asharq Al-Awsat

Saudi Banks Safe from Troubled US Banks

Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA), ruled out any transactions between Saudi banks and troubled US banks, affirming that the Kingdom’s banking sector enjoys capital adequacy and reassuring liquidity. Al-Sayari spoke with Al-Arabiya TV on the sidelines of the Financial Sector Conference in Riyadh when he added that…

Asharq Al-Awsat

Yemen’s Hadramout Receives 3rd Batch of Saudi Oil Derivatives Grant

A new batch of Saudi fuel derivatives arrived Thursday to the Yemeni province of Hadramout, coming from Aden and offered under the Saudi Development and Reconstruction Program for Yemen (SDRPY). The grant includes 5,500 tons of diesel and 13,000 tons of mazut and is an affirmation of the Kingdom's keenness…

Asharq Al-Awsat

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Asharq Al-Awsat

Saudi Arabia, Russia Stress Commitment to OPEC+ Decision on Oil Output Cuts

Saudi Minister of Energy Prince Abdulaziz bin Salman met in Riyadh on Thursday with Russian Deputy Prime Minister Alexander Novak who is visiting the Kingdom, the Saudi Press Agency reported. They discussed global oil markets and the efforts of OPEC+ to promote market stability, SPA said. They also stressed their…

Asharq Al-Awsat

Saudi GDP Exceeds $1 Tln, Shows Kingdom’s Economy Is on Right Track

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

Asharq Al-Awsat

Saudi Finance Minister: Opportunities Available for Saudi Arabia, Iran if Agreement Is Respected

Saudi Minister of Finance Mohammed Al-Jadaan stressed on Wednesday that the Kingdom is committeed to the agreement it reached with Iran to restore diplomatic relations. “There are a lot of opportunities for Saudi investments in Iran and they could happen very quickly following the agreement,” he told the second edition…

Asharq Al-Awsat

Saudi PIF to Inject $266 Bn into New Projects

The Saudi Public Investment Fund invested nearly $1.3 billion in four national companies in the contracting sector during the last period, announced Governor Yasser al-Rumayyan. Rumayyan announced the establishment of a general department for national development to determine the strategic directions in economic development and measuring impact. The group launched…

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Asharq Al-Awsat

Saudi Arabia Says Will Not Sell Oil to Any Country That Imposes Price Cap on Its Supply

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that the Kingdom will not sell oil to any country that attempts to impose a price cap on its supplies, stressing that the Kingdom has embarked on expanding its capacity to 13.3 million b/d by 2027.

Asharq Al-Awsat

Saudi Arabia Advances 15 Ranks on Global Innovation Index

Saudi Arabia has risen 15 places in the World Intellectual Property Organization (WIPO) Global Innovation Index 2022, reflecting the extent of development in research, development, and innovation in the Kingdom.

Asharq Al-Awsat

Saudi Culture Minister Meets French Counterpart

Saudi Minister of Culture and Governor of the Royal Commission for AlUla Prince Badr bin Abdullah bin Farhan held an official meeting with the French Minister of Culture, Rima Abdul Malak, who is on an official visit to the Kingdom of Saudi Arabia. Prince Badr emphasized the strong bilateral relations…

Asharq Al-Awsat

Saudi Energy Minister, Tuvalu Prime Minister Discuss Energy Cooperation

Saudi Energy Minister Prince Abdulaziz bin Salman met with Prime Minister of Tuvalu Kausea Natano in Riyadh. During the meeting, the two officials discussed bilateral relations between the two countries, prospects for joint cooperation in energy fields, and ways to develop ties. They also reviewed the Kingdom's initiatives to preserve…

Asharq Al-Awsat

Saudi FM to Asharq Al-Awsat: Agreement with Iran Sign of Joint Will to Resolve Disputes through Dialogue

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah said the Saudi-Iranian agreement to restore diplomatic relations underscores the joint desire by both sides to “resolve disputes through communication and dialogue.” He added, however: “This does not mean that an agreement has been reached to resolve all pending disputes between…

The Independent UK

Saudi Arabia's golf case threatens to spill kingdom secrets

Saudi officials who oversee the kingdom’s U.S. investments haven’t been shy about flaunting their ties with top American business and political figures

Asharq Al-Awsat

SME Bank Allocates 10.5 Billion Riyals to SME Funding Solutions

The Small and Medium Enterprises Bank (SME Bank), a development bank under the National Development Fund, announced allocating an amount of 10.5 billion riyals to support the small and medium enterprises sector, through existing and new financing programs offered by the Bank, including direct and indirect lending programs, financing guarantee,…

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