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  • Saudi FM discuss Palestine, Syria and Somalia crises with counterparts in Cairo meeting

    Saudi Foreign Minister Prince Faisal bin Farhan met with his counterparts at the sidelines of the Arab League foreign ministers meeting in Cairo on Tuesday. During the meeting, ministers discussed joint Arab action to intensify coordination on the Palestinian issue and other matters of concern. Regional and international developments were also discussed at the meeting that was attended by a Turkish foreign minister for the first time in 13 years.

  • Saudi Arabia says Israel humanitarian aid blockade in Gaza amounts to ‘war crime’

    Saudi Arabia said, Tuesday, that Israel’s obstruction of humanitarian aid to the Gaza Strip is a “war crime” and a “humanitarian catastrophe”, according to Saudi state channel, Al-Ikhbariya. The failure to reach a ceasefire in Gaza for nearly a year is evidence of the “repeated failure of the international security system,” Foreign Minister, Prince Faisal Bin Farhan, said at a news conference in Cairo with his Egyptian counterpart, Badr Abdelatty, Anadolu Agency reports. Bin Farhan criticised Israel’s intransigence and refusal to agree to a ceasefire.

  • Saudi Arabia reopens embassy in Syria, completing reconciliation with Assad regime

    At a reception held at Damascus’s Four Seasons Hotel on Monday, Saudi Chargé d’Affaires, Abdullah Al-Harith, stated that the reopening of the Kingdom’s diplomatic mission in Syria “represents an important moment in the history of relations between our two brotherly countries”. He also emphasised Riyadh’s commitment to developing bilateral relations with Damascus.

  • Saudi Arabia reopens its embassy in Damascus after a hiatus of 12 years

    It is noteworthy that in May this year Saudi Arabia had appointed Faisal bin Saud Al-Mujfel as its ambassador to Syria, months after announcing the resumption of diplomatic relations between the two countries, becoming the first Saudi ambassador since the embassy was closed in 2012. Syria appointed earlier Dr. Muhammad Soussan as new ambassador to Saudi Arabia. Dr. Soussan assumed charge in Riyadh in January this year. In May 2023, Saudi Arabia restored diplomatic ties with Syria after a hiatus of 12 years.

  • Saudi Arabia to scale back debt issuance in H2: Fitch Ratings

    Saudi Arabia plans to reduce its debt issuance in the second half of 2024, thanks to substantial dividend payments from Aramco that have alleviated the need for sovereign financing, according to Fitch Ratings. This decision comes after a period of significant debt issuance in the first half of the year, reflecting the government’s strategic fiscal management.

  • Saudi Falcons Aerobatic Team Performs at Egypt Air Show

    The Saudi Falcons Aerobatic Team, representing the Royal Saudi Air Force, showcased impressive aerial displays today during the Egypt Aviation and Space Exhibition 2024, currently taking place in northwestern Egypt.

  • U.S.-Saudi Defense Cooperation: Next Steps

    Even if an Israeli-Saudi normalization deal proves unattainable for now, Washington and Riyadh should still seek ways to enhance military and defense cooperation in order to advance common interests and prepare for future security challenges.

  • Saudi Arabia announces new fee rules on customs services

    On 6 September 2024, the Board of Directors of the Zakat, Tax and Customs Authority (ZATCA) issued Resolution No. (03-03-24) dated 18/10/1445 AH (Resolution) regarding the new fee structure for customs services. On the same day, the ZATCA announced the issuance of the Resolution on its website. The new fee structure includes waiving export customs service fees and introducing a new mechanism for calculating import customs service fees with minimum and maximum fee caps, in addition to a special provision for e-commerce.

  • Zamil Industrial’s H1-24 accumulated losses hit 16.5% of capital; revenues cross $693mln

    Zamil Industrial Investment Company logged net profits amounting to SAR 11.52 million in the first half (H1) of 2024, against net losses of SAR 197.90 million in H1-23. The group registered revenues valued at SAR 2.63 billion in H1-24, higher by 21.49% year-on-year (YoY) than SAR 2.16 billion, according to the financial results. Earnings per share (EPS) hit SAR 0.19 in the first six months (6M) of 2024, versus a loss per share of SAR 3.30 in H1-23.

  • The Economic Impact of Generative AI Use: The Future of Work in the Kingdom of Saudi Arabia

    This study estimates that using generative AI to transform the way work is currently done in the Saudi private sector economy, excluding government agencies, can potentially unlock USD133.6 billion of productive capacity, equivalent to the size of its manufacturing industry. This estimate does not specify a timeframe for achieving this uplift but illustrates the potential gains for the economy should full adoption be achieved.