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  • Saudi Arabia to host 2026 Gulf Cup

    Adding another tournament to a busy decade of football events, Saudi Arabia will host the 2026 Gulf Cup.  The news was confirmed on the sidelines of the current Gulf Cup in Kuwait where the tournament’s general assembly unanimously awarded the finals to Saudi Arabia next year. A prestigious prize in the region, the Gulf Cup was first played in 1970. It’s the fifth time that Saudi Arabia will organise the tournament, having welcomed the regional finals in 1972, 1988,2002 and 2014. The staging represents another boost to the country’s hosting credentials. Last year, Saudi Arabia welcomed the Club World Cup, the first FIFA tournament on Saudi soil since the Confederations Cup in 1997.

  • Saudi wages rise 45% as unemployment hits historic low of 3.3% in 2024

    Wages for Saudis in the private sector rose by 45 per cent in 2024, as Saudi Arabia’s Ministry of Human Resources and Social Development reported significant strides in employment, women’s empowerment, and economic development aligned with Vision 2030 targets.The ministry highlighted the impact of women’s increased economic participation, with their labour market engagement rising to 35.8 per cent, surpassing Vision 2030 goals. Women now hold 43 per cent of middle and senior management positions. “The increase in wages and the rise in women’s workforce participation demonstrate a growing appreciation for national competencies and our efforts to improve productivity while fostering a balanced work environment,” the ministry said in a statement.

  • South African-built cars dominate the Dakar Rally in Saudi Arabia: Video

    South Africa’s strong legacy at the Dakar Rally continues in 2025, with more than half of the vehicles at the event in Saudi Arabia being designed and built in the country. The race promises to be another thrilling competition showcasing Southern African engineering prowess.

  • Anti-corruption squad arrests Saudi government employees

    Government employees were among 145 people arrested in Saudi Arabia over corruption charges last month. The country’s Oversight and Anti-Corruption Authority (Nazaha) conducted 1,462 “oversight visits” in December, during which 390 accused individuals were investigated and the arrests made. Those involved worked for a range of government agencies including the ministries of the interior, defence, justice, health, education, municipalities and housing, Nazaha said. Those arrested, some of whom were released on bail, are accused of crimes including bribery and abuse of authority.

  • Saudi Arabia embraces mortgage-backed securities

    Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC), which is owned by the Public Investment Fund (PIF), and the Hassana Investment Company, which manages the assets of the national social security and pension fund, signed the memorandum of understanding on January 1. “Our partnership with Hassana marks a significant milestone in supporting the evolution of the housing finance landscape and fostering the development of Saudi Arabia’s capital markets,” SRC’s chief executive Majeed Al Abduljabbar said in a statement. Mortgage-backed securities are investments like bonds. Each is a share in a bundle of home loans and other real estate debt bought from the banks or government entities that issued them. Investors in mortgage-backed securities receive periodic payments like bond coupon payments.

  • BYD Pulls Ahead of Tesla to Become Largest EV Maker

    After years on top of the global electric vehicle market, Tesla has lost the title of world’s largest EV producer to Chinese powerhouse BYD. In 2024, Tesla made 1,774,442 electric vehicles, 4,500 shy of BYD’s 1,777,965. After first surpassing Tesla’s quarterly vehicle production in Q4 2023, BYD fell back behind its U.S. competitor in subsequent quarters. In Q4 2024, however, China’s number 1 car brand outproduced Tesla by almost 150,000 vehicles, making it the world’s new leading EV manufacturer.

  • How the Islamic State Radicalizes People Today

    The Islamic State has lost thousands of fighters to death or prison and suffered the demise of its self-declared caliphate in Iraq and Syria. But the global reach of the group, also known as ISIS, is still vast, in part because of its sophisticated media output and the people around the world who consume it. From online videos to social media platforms — and even a weekly Islamic State newsletter — the group that wants to force all Muslims to adhere strictly to the faith’s earliest teachings has a very modern media strategy. “Terrorism is essentially communications,” said Hans-Jakob Schindler, a former United Nations diplomat who is the senior director of the Counter Extremism Project, a think tank with offices in New York and Berlin. “It is not warfare, because obviously, ISIS cannot militarily defeat the West, right? They tried and it didn’t exactly end well.”

  • Climate-driven sea level rise will overwhelm major oil ports, study shows

    Rising sea levels driven by the climate crisis will overwhelm many of the world’s biggest oil ports, analysis indicates. Thirteen of the ports with the highest supertanker traffic will be seriously damaged by just 1 metre of sea level rise, the analysis found. The researchers said two low-lying ports in Saudi Arabia – Ras Tanura and Yanbu – were particularly vulnerable. Both are operated by Aramco, the Saudi state oil firm, and 98% of the country’s oil exports leave via these ports. The oil ports of Houston and Galveston in the US, the world’s biggest oil producer, are also on the list, as are ports in the United Arab Emirates, China, Singapore and the Netherlands.

  • Saudi Arabia revises fees for seven services, including visa and Iqama renewals

    The Saudi Ministry of Interior’s Absher Business platform has introduced updated fees for seven services offered to establishments, according to Okaz newspaper. Among the changes, the fee for extending an exit and reentry visa has been set at SR103.5, while the renewal fees for the residency permit (Iqama) and the final exit have been revised to SR51.75 and SR70, respectively. The updated fee for issuing an Iqama is also SR51.75, while the fee for requesting an employee report has been set at SR28.75. For expatriates, the cost of updating passport information is now SR69.

  • Saudi Arabia Affirms Readiness To Participate In Syria’s Renaissance

    Prince Faisal reiterated the Kingdom’s commitment to supporting Syria’s sovereignty, independence, and territorial integrity while emphasizing efforts to achieve security, stability, and prosperity for the Syrian people, the Saudi Press Agency reported. The discussions also focused on preserving Syrian state institutions, enhancing its capabilities, and facilitating its reintegration into the Arab and Islamic worlds, SPA added. Senior Saudi officials including Prince Musab bin Mohammed Al-Farhan and ambassadors Saud Al-Sati and Faisal Al-Majfal were also in attendance.