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,
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.
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 […]
Earlier this week, Saudi Arabia led a meeting involving the European Union and the Arab League. The Kingdom’s Foreign Minister, Faisal bin Farhan Al Saud, and the Arab League’s Secretary General, Ahmed Aboul Gheit, called for the meeting at the 77th session of the United Nations General Assembly. The parties conducted the meeting to discuss […]
Top officials from Saudi Arabia and India recently discussed establishing a Riyal-Rupee trade between India and Saudi Arabia. India’s Minister of Commerce and Industry, Shri Piyush Goyal, and Saudi Arabia’s Minister of Commerce, Majid bin Abdullah al-Qasabi, held the discussion. Both stakeholders held the meeting during Goyal’s two-day visit to the
The US has recently begun developing a military testing facility in Saudi Arabia to safely experiment with military-related inventions in open spaces within the country’s territory. The development of this facility is said to be the starting point of a deeper military relationship between both countries. Red Sands Integrated Experimentation Center _ What Is this?
Saudi Arabia makes a surprising move to slash crude oil prices for Asia and Europe by nearly $4 per barrel, the first tangible oil price slash in four months. This news comes when the country’s oil prices are at an all-time high. What are the Details of the Oil Price Reduction On September 6th, Saudi […]
Saudi Arabia – with a 7.5% Potential Growth in 2022, is set to become an Economic Powerhouse as Reports Claim : Saudi Arabia – with a 7.5% Potential Growth in 2022, is set to become an Economic Powerhouse as Reports Claim Saudi Arabia is well on its way to becoming the world’s fastest-growing economy with […]
Saudi Arabia Tilts Its Gaze to Boosting Tourism Through the Tourists Visa Scheme : Saudi Arabia Tilts Its Gaze to Boosting Tourism Through the Tourists Visa Scheme In a bid to boost its tourism sector and foster international relations, Saudi Arabia has instituted a measure to issue new visas for visiting citizens from the US, […]
Saudi Arabia Signs Mou With Alstom to Boost Transport Sector : Saudi Arabia Signs Mou With Alstom to Boost Transport Sector The Saudi Arabian transport ministry has signed a Memorandum of Understanding with Alstom. Alstom is a French multinational manufacturing company that specializes in sustainable transport. The MoU is expected to boost investment in Saudi
Saudi Arabia Issues a Call for Nations to Cut Back on Oil Production : Saudi Arabia Issues a Call for Nations to Cut Back on Oil Production In its quest to ensure some form of stability in the oil market, Saudi Arabia is contemplating cutting back on oil production and influencing other OPEC nations to […]
The Flames of Covid-19 Continue to Burn as Saudi Arabia Records New Cases of the Virus : The Flames of Covid-19 Continue to Burn as Saudi Arabia Records New Cases of the Virus The spread of Covid-19 in Saudi Arabia continues rapidly as the country continues to record new cases of the virus daily. While it is […]
