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  • Saudi Arabia’s trade surplus hits highest annual amount of $11.4 billion in April

    Saudi Arabia’s trade balance recorded a surplus of SR41.41 billion in April 2024, reaching its highest levels during the current year, achieving 36 percent growth on a monthly basis. According to preliminary data on international trade released by the General Authority for Statistics (GASTAT), there has been an increase of SR10.967 billion in April compared to the surplus of SR30.443 billion achieved in the previous month of March.

  • Saudi developer Dar Global eyes $300 million investment in US expansion

    "We are really focusing on closing the first project in the United States before the end of the year," El Chaar said in an interview from Dubai. He said Dar Global is ready to raise debt in and outside the United States to help finance its U.S. projects, and that its $300 million investment will be in the form of equity.

  • Saudi developer Dar Global eyes US$300 million investment in US expansion

    SAUDI Arabia’s property developer Dar Global plans to invest US$300 million in New York, Miami and Los Angeles in the coming months as it seeks partners to develop luxury homes in the United States.

    London-listed Dar Global hopes to announce its latest development in the United States before the year end, said Ziad El Chaar, Dar Global’s chief executive officer.

  • Deputy Secretary Campbell’s Meeting with Saudi Minister of Communications and Information Technology al-Swaha

    Deputy Secretary of State Kurt M. Campbell met today with Saudi Minister of Communications and Information Technology Abdullah al-Swaha.  They discussed a range of issues to expand U.S.-Saudi bilateral economic relations including partnerships in science and technology.  Deputy Secretary Campbell expressed the United States’ support for Saudi Arabia’s Vision 2030 and exchanged views with Minister al-Swaha on deepening bilateral cooperation for safe, secure, and trustworthy Artificial Intelligence.

  • Saudi Arabia launches ‘unprecedented’ geographical survey of renewable energy sites

    Part of the National Renewable Energy Program, the ambitious project will identify the best sites to develop renewable energy projects throughout the country. Contracted companies will install 1,200 stations across all regions of the kingdom to measure solar and wind energy. Beginning this year, Saudi Arabia will tender new renewable energy projects with a capacity of 20 GW annually.
     

  • Assessing Climate Adaptation Plans in the Middle East and North Africa

    The region’s vulnerable populations and ecosystems face an array of severe hazards, including drought, heat waves, and other extreme meteorological phenomena. Moreover, the MENA region relies heavily on climate-sensitive agriculture, with a substantial proportion of its populace and economic activity concentrated in coastal zones that are susceptible to flooding.

  • How Did the Taliban Power Grab Change Afghanistan’s Opium Economy?

    With the Taliban retaking power in April 2022, the new Afghan government instituted a strict ban on the cultivation of poppy, not only curtailing the supply of illicit substances like heroin but also that of medical prescription opioids. As a result, potential opium production dropped by 95 percent between 2022 and 2023 to 333 tons.

  • Saudi Arabia suspends special Umrah e-visas for Egyptians following Hajj heatwave deaths

    Saudi Arabia has suspended B2C Umrah e-visas for Egyptians, following the Hajj heatwave crisis which resulted in over 1,300 deaths. The B2C is an electronic visa that allows pilgrims to book directly through the kingdom's online Umrah portal without using external travel agents. Umrah is a short pilgrimage to holy sites in Mecca separate to the annual Hajj, which is a requirement for all eligible Muslims. Travellers who use B2C visas first have to travel to the UAE or Oman for a six-hour transit period, before heading to Saudi Arabia for the pilgrimage.

  • New Telecommunications and Data Protection Rules Taking Effect in Saudi Arabia

    The express goal of the Telecommunications Act is to promote digital transformation in the Kingdom and enhance the services provided within the ICT sector, particularly in light of recent exponential growth. At the same time, the new Telecommunications Act and ByLaws continue to require a license or authorization to provide certain communications or technology services in KSA and, in fact, they have effectively widened the scope of the CST’s regulatory jurisdiction to include additional technology and digital services. Whether these changes advance or hinder these policy goals, therefore, may ultimately depend on the burden created by the CST’s implementation practices.

  • Leading Travel Marketplace WINGIE Anticipates Up to 60% Expansion in Saudi Arabia’s Post-Eid Tourism Growth

    Following a busy Eid al-Adha and pilgrimage season, Saudi Arabia is maintaining its momentum with a surge in tourism. WINGIE, the leading travel marketplace in the MENA (The Middle East and North Africa) region, has observed a significant 57% increase in bookings to Saudi Arabia from international travelers compared to the previous year post-Eid, signaling a heightened interest in the country’s diverse attractions. The primary sources of these visitors include Egypt, Turkey, Germany, India, and the UAE, with the average cost of a flight being USD 207.