On Friday, the Saudi Press Agency (SPA) reported that Saudi Arabia and Morocco had signed a tourism cooperation agreement. This was to enable the coordination of efforts to achieve sustainable development in the two countries’ tourism sectors. To expand their tourist cooperation, both
Saudi Arabia
Explore the latest from Saudi Arabia on MENews247. Stay informed on political developments, economic trends, and cultural insights in the Kingdom.
From Riyadh’s policy shifts to Jeddah’s cultural festivals, get your 24/7 update on everything happening in Saudi Arabia. Your source for comprehensive news and analyses on Saudi Arabian affairs.
The Mohammed bin Salman Foundation and innovation experts Plug and Play have collaborated for the Misk Accelerator Program, from which 19 entrepreneurs are moving forward with their initiatives. These recent alums are part of Cohort 3 of the program, which gives young startups in the MENA area access to a yearlong instruction curriculum. The program […]
The Saudi Press Agency reported that on Thursday, the Saudi Defense Ministry agreed to work with a Spanish state-owned company to make battleships for the Saudi Navy. The Memorandum of Understanding was signed in the presence of Prince Khalid bin Salman bin Abdulaziz, the Saudi Minister of Defense, and Mara Reyes Maroto, the Spanish Minister […]
Energy Transition In Saudi Arabia: Renewable Technology At Home, Oil Abroad : Saudi Arabia has long since been referred to as the Kingdom of oil. Since Saudi Arabia’s first oil discovery in 1933, the region has long been the focus of news when discussing oil because it is the world’s largest producer of that substance. […]
Jeddah frequently experiences heavy downpours and flooding during the winter. Located on the Red Sea, the city of Jeddah is home to a population of about 4 million people, and it is often called the “gateway to Mecca,” from which millions of people annually make the journey to perform the hajj and umrah pilgrimages. Many […]
Saudi Arabia Signs Energy Agreements With Egypt: Saudi Arabia recently announced that it signed an MoU detailing an energy agreement with Egypt. Both countries signed the agreement during this year’s edition of COP 27, the UN Climate Change Conference and the Green Middle East Initiative Summit. Both events were held at Sharm el-Sheikh, although it […]
Saudi Arabia Signs Deals Worth $30 Billion With South Korea: Saudi Arabia has signed investment deals worth about $30 billion with South Korean companies. The announcement was made by Saudi Arabia’s Minister of Investment, Khalid Al-Falih. Under the numerous deals signed with South Korea, companies like Samsung C&T Corp and POSCO Holdings signed about twenty […]
Sudan is Set to Receive a $3 Billion Investment from Saudi Arabia to ensure stability in the country
Saudi Arabia has decided to put into practice the natural law of loving one’s neighbour as the country has agreed to issue a $3 billion humanitarian aid investment in its Gulf counterpart Sudan. The government has deemed it fit to assist Sudan as the latter navigates the current political turmoil within its territory. What has Spurred the […]
Saudi Arabia Records 16.6% Increase in Non-Oil Exports: Saudi Arabia recorded a 16.6% increase in its non-oil exports for August. The numbers were recently released, with total non-oil revenue peaking at over $7 billion. This is coming after Saudi Arabia recorded a 31% increase in its non-oil exports in the second quarter of this year. […]
Saudi Arabia is Set to Allocate $266 Million to Supply Chain Investors: The Kingdom of Saudi Arabia has made another significant move to up its economic game by introducing the Supply Chain Initiative. This move aims to place the country on a new level of financial and commercial development, reinforcing its place as one of […]
Faisal Bin Farhan, Saudi Arabia’s Minister of Foreign Affairs, is Set to Represent the Country at the Arab League Summit: The Minister of Saudi Arabia’s Foreign Affairs, Faisal bin Farhan, is set to represent the country at the Arab League Summit. He will act in the place of the Kingdom’s crown prince, Mohammed bin Salman. […]
Saudi Arabia Begins Extensive Work on its Vertical City – The Line Saudi Arabia has topped its efforts to birth a sustainable planet Earth by beginning the construction of its vertical city – the Line. The city is one of the many projects the kingdom has initiated in its climate action endeavours to achieve its […]
The United Arab Emirates has declared its full support for Saudi Arabia in its quest for global energy stability, security, and world peace. This news follows the bitter lash back by some countries about OPEC+’s decision to cut oil production to two million barrels daily. Why has the UAE Chosen to Stand by Saudi Arabia […]
In an unprecedented move, the South African government and Saudi Arabia have entered into a Memorandum of Understanding valued at $17 billion. The MoU is to establish collaboration and economic partnership between both countries in line with Saudi Arabia’s vision for 2030. What are the Specifics of the MoU Agreements The President of South Africa, […]
Saudi Arabia recently announced its intent to provide $400 in humanitarian aid to Ukraine to mitigate the effects of the ongoing war. This support follows significant accusations in Saudi Arabia for politicizing oil production after the proposed reduction by OPEC+ members. Why Did Saudi Arabia See the Need to Provide Humanitarian Support in Ukraine The […]
Following the OPEC+Â announcement for countries to reduce oil production to two million barrels daily, Saudi Arabia has moved to cut down its oil production. This move comes a little after the President of America, Joe Biden, visited the country to request for oil production increase. What are the Specifics of the Oil Cut In a […]
The Public Investment Fund (PIF) of Saudi Arabia has officially executed its first green bond issuance. The sovereign wealth fund announced that it raised about $3 billion from the issuance, and the proceeds will be used to fund sustainable projects. The PIF sold 100-year green bonds at a yield of about 6.7%. However, two other […]
Days ago, the Saudi Arabian and Qatari governments reviewed a joint business strategy targeted at the private sector. Khalid Al-Falih, Saudi Arabia’s Minister of Investment, engaged members of the Saudi-Qatari Business Council on the progress made regarding establishing strong private-sector ties in both countries. The meeting was held in the headquarters of the
Saudi Arabia’s futuristic megacity, Neom, has announced its $1 billion ($3 billion) investment in the metaverse. The megacity’s subsidiary, Neom Tech & Digital (which has now rebranded to Tonomus), executed the investment. According to the company’s CEO, Joseph Bradley, a significant proportion of Neom would be dominated by robots and elements of the
Saudi Arabia has announced plans to invest heavily in the gaming industry. The investment will reportedly be funded through the Savvy Games Group, a company wholly owned by the Saudi Arabian Public Investment Fund (PIF). Earlier this year, the Saudi Arabian government launched the Savvy Games company as a strategy to boost the country’s presence in the […]
