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  • Rubio says talks in Saudi Arabia meant to be opening step toward peace

    Secretary of State Marco Rubio emphasized the importance of building trust and opening communication with Russia as he and other top Trump administration officials head to Saudi Arabia for talks on ending the war between Russia and Ukraine. “One phone call does not make peace,” Rubio said on CBS’ “Face the Nation” on Sunday. “One phone call does not solve a war as complex as this one, but I can tell you that Donald Trump is the only leader in the world that could potentially begin that process.”

  • Zelensky warns Ukraine won’t accept decisions made without them in peace talks

    Ukrainian President Volodymyr Zelensky said in a "Meet the Press" interview aired Sunday that he would "never accept" decisions made by the U.S. and Russia about Ukraine's future, even as the two nations appear poised to engage in peace talks this week. President Trump's Middle East envoy, Steve Witkoff, confirmed Sunday on Fox News' "Sunday Morning Futures" that he and National Security Adviser Michael Waltz will travel to Saudi Arabia to "hopefully make some really good progress" on the Russia-Ukraine peace process.

  • Announced at LEAP 2025: The Next Step for Saudi Arabia Financial Innovation

    The five-day event saw experts from across the financial market come together to discuss and learn about AI-driven financial services, investment platforms, strategic partnerships, fraud prevention and more. With attendees getting a greater understanding of what firms are doing to help achieve the Kingdom’s Vision 2030 goal, we wanted to share some of the biggest announcements made at LEAP 2025.

  • Ceer supercharges Saudi EV industry with $1.4bn in deals, gearing up for 2026 launch

    Saudi Arabia’s first homegrown electric vehicle brand, Ceer, signed 11 deals worth SR5.5 billion ($1.4 billion) at a Public Investment Fund event ahead of its model launch in 2026. More than 80 percent of these agreements involve Saudi companies, reinforcing Ceer’s commitment to its 45 percent localization target and advancing the Kingdom’s Vision 2030’s economic diversification goals. Among the key memorandums of understanding signed at the PIF Private Sector Forum are agreements related to heating and air conditioning, portable EV chargers and various manufacturing aspects, such as plastic injection parts. DeLuca highlighted that Ceer is the only company in Saudi Arabia managing the entire process — from designing and engineering to manufacturing, selling, and servicing a portfolio of battery electric vehicles.

  • Spending pushes Saudi fiscal deficit to $31bn in 2024

    Saudi Arabia’s fiscal deficit reached SAR116 billion ($31 billion) in 2024, driven by a 6 percent rise in expenditure, according to the ministry of finance. The deficit was in line with revised predictions made in September but roughly 50 percent higher than the SAR79 billion ($21 billion) projected at the start of the fiscal year. Increased expenditure comes at a time of high spending across the kingdom on infrastructure giga-projects in support of Saudi Vision 2030 diversification targets. The economy minister, Faisal Alibrahim, speaking at an event in Riyadh on Thursday, said that infrastructure investments are expected to reach $1 trillion by 2030. Oil revenues rose marginally to SAR757 billion last year, while non-oil revenues rose 10 percent year on year to SAR502 billion, the ministry said.

  • Commentary: Saudi Arabia’s political messages in response to Netanyahu

    Notably, Riyadh is spearheading ongoing efforts by leading the Global Alliance for the Implementation of the Two-State Solution, as announced by Foreign Minister Prince Faisal bin Farhan at the UN General Assembly last September. This initiative is in collaboration with Arab and Islamic countries, as well as the EU and Norway. The objective is to develop a “practical plan to achieve shared goals for the desired peace,” as stated by Prince Faisal, who affirmed that “we will exert our utmost efforts to establish a reliable and irreversible path toward a just and comprehensive peace.”

  • Al-Falih: Nearly 600 global companies choose Saudi Arabia as regional headquarters

    Minister of Investment Eng. Khalid Al-Falih announced that the number of global companies establishing their regional headquarters in Saudi Arabia has risen to nearly 600. Al-Falih announced this while attending a panel discussion titled “Ministerial perspective on the role of the government to enable the private sector,” held as part of the third edition of the PIF Private Sector Forum in Riyadh on Wednesday. The minister noted that the number of registered investment licenses surged from 4,000 in 2018 and 2019 to 40,000 currently, while total investments have doubled to SR1.2 trillion, accounting for 30 percent of the Saudi economy. "Seventy-two percent of investments came from the private sector, while the Public Investment Fund's (PIF) portfolio and companies account for only 13 percent. This underscores Saudi Arabia's position as a strong global investment destination, thanks to its attractive economic environment and diverse investment opportunities across various sectors,” he said.

  • Saudi Arabia is evaluating BRICS membership, says economy minister

    Saudi Arabia is evaluating the benefits of joining the BRICS economic bloc, Faisal Alibrahim, the Kingdom’s minister of economy and planning, said at the World Governments Summit on Wednesday. Speaking during a session titled “The Emergence of Multiple Economic Blocs,” Alibrahim highlighted Saudi Arabia’s commitment to fostering global dialogue while navigating an increasingly fragmented economic landscape. The BRICS bloc was formed in 2009 and initially named after its original founders Brazil, Russia, India and China, while South Africa joined a year later. It now has 10 full members including Iran, Egypt, Ethiopia, the UAE and Indonesia. Alibrahim said economic blocs such as BRICS were not an end in themselves but tools to promote stability and integration. “Dialogue is important. It’s important for the Kingdom and for the world today.”

  • Saudi Arabia: Suspension of Multiple-Entry Visa for Certain Nationals

    Saudi Arabia has suspended the issuance of one-year multiple-entry visas for business, tourism, and family visits for nationals of Algeria, Bangladesh, Egypt, Ethiopia, India, Indonesia, Iraq, Jordan, Morocco, Nigeria, Pakistan, Sudan, Tunisia, and Yemen. Affected nationals are still eligible to apply for a single-entry visa, however, based on experience, processing times for single-entry visas may be longer, and in some cases, applications may be rejected, especially during the Hajj season.

  • ‘Haram. Haram. Haram!’ — Riyadh Air CEO slams lack of direct flights from Saudi Arabia to major global cities

    “Haram. Haram. Haram.” With those three emphatic words, Riyadh Air CEO Tony Douglas made it clear — Saudi Arabia’s lack of direct global connectivity is unacceptable, and it’s time to fix it. Speaking at the PIF Private Sector Forum on Wednesday, Douglas didn’t hold back. “We can’t travel directly from Riyadh to Tokyo, to Shanghai, to Seoul, to Sydney — the list goes on and on,” he said. What’s worse, Saudi travelers are propping up foreign airlines instead. “The number one premium passenger for Qatar Airways — business and first class — is Saudi passport holders. Number three on Emirates? Saudi passport holders,” he revealed. Even Douglas himself is forced to fly Emirates next week to attend FII Miami. “Why? Because there is no direct connectivity from Riyadh. Haram. Haram. Haram.”