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  • Long-term plans of Saudi Vision 2030 support economic flexibility: Al-Jadaan

    “Saudi Vision 2030’s objectives are on track at 87%”, the Saudi minister assured, indicating that there is still a bundle of challenges that requires modifying some projects, accelerating a number of them, and reducing the size of other projects.

  • Saudi Finance Minister Warns Geopolitics Is Top Economy Risk

    Jadaan also called on leaders to “do everything we can” to de-escalate, echoing comments more broadly made by Saudi government officials around Israel’s war against Hamas and tensions between Iran and Israel. The situation in the Middle East contributed to oil prices climbing above $90 a barrel earlier this month, keeping the pressure on inflation. Gold, a safe haven asset, also hit a record high in April.

  • Host Saudi Tells Global Economic Summit The World Has Failed Gaza

    Saudi Arabia on Sunday said the international community has failed Gaza and reiterated its call for a Palestinian state at a global economic summit attended by a host of mediators.

    "The situation in Gaza obviously is a catastrophe by every measure –- humanitarian, but also a complete failing of the existing political system to deal with that crisis," Foreign Minister Prince Faisal bin Farhan said during the first day of a Saudi-hosted World Economic Forum special meeting. Only "a credible, irreversible path to a Palestinian state" will prevent the world from confronting "this same situation two, three, four years down the line," he said.

  • World Economic Forum Convenes Special Meeting in Riyadh on Global Collaboration, Growth and Energy for Development

    With geopolitical upheavals and complex economic challenges destabilizing a fractured world, the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development will convene 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared global challenges.

  • Saudi Arabia and the Bill & Melinda Gates Foundation Announce Landmark Push to Eradicate Polio and Lift Millions out of Poverty

    Saudi Arabia and the Bill & Melinda Gates Foundation today pledged to work together to help protect 370 million children annually from polio and lift millions out of poverty across 33 Islamic Development Bank (IsDB) member countries. To coordinate the implementation of the new partnership, the Bill & Melinda Gates Foundation will open a regional office in Riyadh.

  • Saudi FM: Commitment to two-state solution only way to prevent Gaza war reoccurring

    Only a real commitment to a two-state solution to the Palestinian-Israeli conflict can prevent the war in Gaza from reoccurring, Saudi Foreign Minister Prince Faisal bin Farhan said on Sunday. “We in the region are not going to focus only on solving the crisis of the moment, we’re going to look at how we can solve the bigger problem in the context of Gaza. That is, a real commitment to a two-state solution, that is, a credible, irreversible path to a Palestinian state,” he told the World Economic Forum’s special meeting in Riyadh.

  • Saudi, US top diplomats discuss Gaza crisis in Riyadh

    Saudi Foreign Minister Prince Faisal bin Farhan and US Secretary of State Antony Blinken discussed on Monday the importance of reaching an “immediate ceasefire” in the ongoing Gaza conflict as the Israeli threat of an operation in Rafah remains imminent. Prince Faisal met with Blinken in the Saudi capital Riyadh on the sidelines of joint talks between the US official and GCC foreign ministers.

  • US Secretary of State to travel to Jordan, Israel after Saudi Arabia visit

    US Secretary of State Antony Blinken will visit Israel and Jordan on a trip through Wednesday, the State Department announced, after the US and Israeli leaders discussed hostage-release talks.

    Blinken will travel to both countries, a State Department official confirmed as the top US diplomat refuelled Sunday in Ireland on his way to a previously announced stop in Saudi Arabia.

  • Tawaref Series: Saudi corporate annual operating costs explained

    After understanding the CapEx costs (hard costs and setup partner fees) involved in establishing a business in Saudi Arabia, the next important aspect to consider is the annual operating costs (OpEx). OpEx encompasses the ongoing operational expenses required to sustain a business in the country. This includes government fees, renewals, taxes, third-party costs, and other essential expenditures crucial for maintaining seamless business operations and preventing any unwelcome surprises.

  • Saudi tourism grows 10% in Q1 2024: Minister

    Saudi Arabia witnessed a 10% year-on-year (YoY) increase in the number of tourists and a 17% YoY increase in tourist spending in Q1 2024, Al Arabiya reported, citing Saudi Minister of Tourism Ahmed Al-Khateeb.   Al-Khateeb expected the number of tourists to increase to 110 million and spending to rise to SAR 150 million by 2030, aligning with the new tourism projects in the Red Sea, NEOM’s opening of Sindalah Island by year-end, and the Diriyah project.