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  • Saudi growth sources changing as private sector focuses on diversification: Alibrahim

    In a program on CNBC Arabia, Alibrahim elaborated on how the expansion of non-oil activities was previously limited to specific sectors but has now diversified to include emerging sources such as financial services, communications, tourism, and other sectors.   The Public Investment Fund (PIF) and the National Development Fund (NDF) are currently functioning independently of government support, and support for these funds is anticipated to diminish in the future, the minister said.   Alibrahim highlighted that the private sector's contribution to the GDP was less than 40% before the implementation of Vision 2030, and it currently stands at the mid-40%, aiming to achieve 65%.

  • Saudi Minister of Foreign Affairs Arrives in Davos at the Head of the Kingdom’s Delegation to World Economic Forum 2024

    Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah arrived today in the Swiss city of Davos at the head of the Saudi delegation to the annual meeting of the World Economic Forum. The Saudi delegation is bound to discuss the most prominent regional and international challenges, and ways to address them through enhanced international dialogue and cooperation, support for economic integration, resorting to sustainable resources, and taking advantage of innovation and technical solutions, as well as by exploring the opportunities offered by emerging technologies, and their impact on the policy- and decision-making process in the international community.

  • Saudi Arabia unveils major plan to develop waste sector

    Saudi Arabia’s Ministry of Environment, Water, and Agriculture has unveiled a major plan to develop the waste sector in the Kingdom. Under this initiative, the Saudi ministry aims to take its recycli Read more at: https://www.gccbusinessnews.com/saudi-arabia-to-develop-waste-sector/

  • Mohammed bin Salman Stadium: Saudi Arabia announces new 45,000 seat venue in Qiddiya

    Saudi Arabia’s Qiddiya will be home to the Kingdom’s new 45-000 seat stadium set to be the world’s first fully integrated venue with a combined retractable roof, pitch, and giant LED wall, the Board of Directors of the Qiddiya Investment Company (QIC) announced on Monday. The multi-use Prince Mohammed bin Salman Stadium will host some of Saudi Arabia’s biggest sports, entertainment, and cultural events, according to a statement carried by the Saudi Press Agency (SPA).

  • Saudi Arabia, Canada agree to re-exchange trade delegations

    Saudi Arabia and Canada have agreed to re-exchange trade delegations after it was suspended for five years. The Federation of Saudi Chambers of Commerce said it signed a memorandum of understanding with the Canadian side to form a joint Saudi-Canadian Business Council. The move came amid Riyadh and Ottawa resumed full diplomatic ties last year.

  • Mancini slams Saudi players who opted to leave Asian Cup squad

    Saudi Arabia coach Roberto Mancini criticised the players who left the national camp ahead of the Asian Cup due to a potential lack of playing time, saying on Monday that he only wanted players ready to fight for the shirt.

    Goalkeeper Nawaf Al-Aqidi, midfielder Salman Al-Faraj and full back Sultan Al-Ghannam were excluded by Mancini ahead of the continental tournament in Qatar and the Italian manager said they were all in the initial list of players called up.

  • Everything to Know About the World’s Largest Arabic Grand Opera Coming to Saudi Arabia

    Titled Zarqa Al Yamama, the production is organized by the Theatre and Performing Arts Commission of Saudi Arabia and under the patronage of Minister of Culture Prince Badr bin Abdullah bin Farhan, who is also the chairman of the commission’s board of directors. It marks the first time a grand opera has been produced in the Kingdom and is the largest Arabic grand opera to ever be staged. The opera will take place in Riyadh, and kick off after Eid al-Fitr, running from April 25  to May 4. The venue of the grand opera is yet to be announced.

  • Saudi inflation eases to 1.5% in December 2023

    Saudi Arabia’s inflation declined to 1.5% in December 2023 compared with the previous month, according to recent data by the General Authority for Statistics (GASTAT).   The cost-of-living index for December rose to 110.15 points, according to the base year 2018, from 108.53 points in the same month a year earlier.

  • Saudi passport advances its global ranking to 61st among over 200 countries

    The Saudi passport advanced its global ranking to 61st during the current year of 2024 from 65 during the year 2023.

    The ranking was made among passports of more than 200 countries in the world, in terms of the number of countries that its holder is allowed to enter without obtaining a visa. It was found that Saudi Arabia allows its holder to enter 89 countries without a visa. This came in the ranking list of the most powerful passports, prepared annually by Henley & Partners, which specializes in providing advice on immigration and investment in countries around the world.

  • Will Saudi Arabia build on domestic boom with first Asian Cup triumph in 28 years?

    Having such big names playing in the domestic league will always have immediate benefits but, from a longer-term perspective, the hope is that training daily with higher-level players would also raise the level of the local talent.