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  • Green Jobs Surge: How Saudi Arabia’s Eco-Initiatives Create New Opportunities

    Saudi Arabia's focus on sustainability has led to a notable rise in green jobs. According to recent statistics, the green sector has grown by over 30% in the past five years. This growth is fueled by investments in renewable energy, sustainable agriculture, and eco-friendly technologies. The surge in green industry sectors is not just a trend; it's a tidal wave transforming the Saudi economy.

  • Leading KSA Fintech – Hakbah – Partners with the Saudi Institute of Internal Auditors

    akbah, the Saudi-based fintech savings platform, announces a new agreement with The Saudi Institute of Internal Auditors to enhance the development of internal auditing systems, governance, and oversight within financial technologies, at 24Fintech in Riyadh. Under this agreement, Hakbah and The Saudi Institute of Internal Auditors will exchange information and updates on professional standards and scientific references, facilitating specialised internal audit studies as well as research on relevant systems, regulations, and discussion panels.

  • US most powerful tourism market; Saudi Arabia tops in growth

    The US remains the world’s most powerful travel and tourism market, contributing a record-breaking $2.36 trillion to the nation’s economy last year, according to the World Travel & Tourism Council's (WTTC) 2024 Economic Impact Trends Report. Saudi Arabia leads the growth international tourism spending with a 91.3% jump compared to 2019, the report noted. Despite the slow return of spending from international travelers, the US keeps pole position, with almost double the economic contribution of its nearest rival.

  • Saudi Arabia, India discuss ways to bolster strategic defense cooperation

    Saudi Arabia and India recently discussed new avenues to strengthen defense cooperation at the India-Saudi Arabia Joint Committee on Defence Cooperation (JCDC) held in Riyadh. Indian ambassador Dr. Suhel Ajaz Khan told Arab News that Saudi Arabia and India are seeking to enhance defense cooperation. Khan said the sixth JCDC meeting was co-chaired by India’s Joint Secretary (Armed Forces) Amitabh Prasad and Saudi Arabia’s Deputy Minister of Defense for Strategic Affairs Maj. Gen. Salman bin Awadh Al-Harbi.

  • 7 Saudis held for publishing posts inciting communal hatred

    The Saudi security authorities have arrested seven citizens and referred them to the Public Prosecution for committing crimes threatening national unity, peace and community security, it was revealed by the Ministry of Interior. The suspects were found involved in publishing posts that incite abhorrent tribal fanaticism, hatred and animosity in society, the Saudi Press Agency reported.

  • IMF Warns Saudi Oil Revenue to Fall More Sharply This Decade

    Oil revenue will rise to 783 billion riyals ($209 billion) to make up about 26% of gross domestic product in 2026, the IMF said in a report after its annual consultations with the Saudi government. The earnings are seen dipping to 778 billion riyals in 2029, 4.1% less than earlier estimates.

  • Saudi Technology Sector Could See $4bn Surge from GenAI by 2028, Report Says

    An analysis by global consulting firm Strategy& Middle East has showed that Saudi technology sector could witness a surge in operating profit of SR15 billion ($4 billion) by 2028 with the adoption of generative artificial intelligence. The reports states that the Kingdom could achieve a 15 percentage point margin growth if tech companies satisfy the needs of advanced hardware and infrastructure and develop and commercialize new GenAI use cases.

  • A look at municipal services fees for tourist hospitality facilities licenses in KSA

    Saudi Arabia’s Minister of Municipalities and Housing Majed Al Hogail issued a decision to scrap fees for issuing commercial licenses for hotels, hotel apartments, and residential resorts, effective as of Sept. 4. Under the Regulations of Municipal Services Fees, issued on Jan. 14, 2019, fees imposed on issuing licenses for local tourist hospitality facilities are based on the category classification approved by the Saudi Ministry of Tourism. They shall range between a minimum of SAR 10 and a maximum of SAR 250 each, depending on the facility type.

  • Putin Thanks Saudi Prince for U.S.-Russia Prisoner Swap

    Russian President Vladimir Putin thanked Saudi Crown Prince Mohammed bin Salman on Thursday for his role in the historic U.S.-Russia prisoner swap. American journalist Evan Gershkovich and U.S. marine Paul Wheelan returned home after being freed following the largest prison swap between the U.S. and Russia on August 1. Gershkovich and Whelan were accused of espionage by the Kremlin, a charge they and the U.S. government had consistently denied. "Saudi Arabia's Crown Prince played an active role in the initial stages of this work. We are very grateful to him, as it resulted in the return of our citizens to the homeland," Putin said at the Eastern Economic Forum.

  • Activists among 457 prisoners released in Bahrain by royal decree

    Scores of prisoners were released from a Bahrain prison on Thursday following a royal pardon of more than 450 inmates, including activists detained during Shia-led protests more than a decade ago.