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  • Saudi Arabia emphasizes the importance of Lebanon’s stability and sovereignty

    The Saudi Ministry of Foreign Affairs expressed grave concern over the ongoing security developments in Lebanon, reiterating the risks associated with the escalation of violence in the region and its potential impact on regional security and stability. According to a statement from the ministry, Saudi Arabia urges all parties to exercise maximum restraint and to distance the region and its people from the dangers of war.

  • Saudi FM calls for UN reform

    The UN system must be reformed to create a fairer and more equitable world order, Saudi Arabia’s foreign minister said on Monday. Addressing the UN at its headquarters in New York City, Prince Faisal bin Farhan warned that international institutions are “unfit for purpose,” as demonstrated by the UN’s inability to hold Israel accountable for “all the atrocities it has committed.” He was speaking a day after UN member states voted to adopt the “Pact for the Future,” a campaign to bring multilateralism “back from the brink” and galvanize support for achieving the organization’s Sustainable Development Goals.

  • Saudi Aramco to raise up to $3 bln in two-tranche dollar Islamic bonds, sources say

    Saudi Aramco (2223.SE), opens new tab is planning to raise up to $3 billion in five and 10-year U.S. dollar-denominated sukuk, or Islamic bonds, according to two sources with direct knowledge of the matter and a term sheet reviewed by Reuters on Tuesday. The sources could not be named as the information on the deal size had not yet been made public. Aramco, mostly owned by the Saudi Arabian government, did not immediately respond to a request for comment.

  • Saudi real estate: Dar Global, Mouawad announce MASSIVE $235mn luxury residential project in Riyadh

    The development, located near the World Expo 2030 site in the north of the city, marks Dar Global’s entry into the Saudi market and Mouawad’s expansion into luxury real estate. The project, set for completion in Q4 2026, will comprise 200 residential villas designed to blend contemporary aesthetics with timeless elegance. It aims to become one of Riyadh’s most prestigious addresses, catering to discerning buyers seeking sophisticated living spaces.

  • Saudi Arabia ranks 1st for government strategy in Global AI Index 2024

    Saudi Arabia has retained its top ranking for Government Strategy in 2024’s Global AI Index compiled by Tortoise Media, meanwhile the Kingdom shot up in the overall index from 31st place to 14th place.

  • Revealed: 100 best places for women to work in the GCC

    The 100 best places for women to work in the GCC have been revealed by a global research, training and consultancy firm. Great Place to Work revealed the top workplaces for women in 2024, breaking down the list to include 25 large, 25 medium and 50 small companies with outstanding female-friendly workplace culture across the region.

  • Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?

    In May of 2023 the International Monetary Fund forecast the kingdom’s breakeven oil price at $80.90 per barrel, which moved it back into a fiscal deficit following its first surplus in nearly a decade. To be sure, the fiscal breakeven isn’t the price at which Saudi Arabia makes a profit on crude but the average oil price it needs to balance the books. The IMF’s latest forecast, in April, put that breakeven figure at $96.20 for 2024; a roughly 19% increase on the year before, and about 32% higher than the current price of a barrel of Brent crude, which is trading at around $73 as of Wednesday afternoon.

  • Iran gave Russia missiles but no launchers, sources say

    Iran did not include mobile launchers with the close-range ballistic missiles that Washington last week accused Tehran of delivering to Russia for use against Ukraine, according to three sources with knowledge of the matter. The sources - a European diplomat, a European intelligence official and a U.S. official - said it was not clear why Iran did not supply launchers with the Fath-360 missiles, raising questions about when and if the weapons will be operational.

  • Riyadh to host second edition of Saudi Film Confex in October

    Riyadh is preparing to host the second edition of the Saudi Film Confex from October 9 to 12, aimed at advancing the Kingdom’s film industry and fostering investment and partnership opportunities, following the success of the inaugural event. The event will feature 30 panel discussions and workshops, addressing critical topics such as film financing and production planning, according to a report by Saudi Broadcasting Authority.

  • Art, music, fireworks shows on for Saudi National Day celebrations

    The General Entertainment Authority has announced there will be fireworks displays across Saudi Arabia. On Sept. 22, Umm Ajlan Park in the capital is hosting, for free, the nation’s biggest fireworks display, a drone show, and a folklore event, starting at 9 p.m. There will also be fireworks displays at Jeddah Promenade from Friday to Monday starting at 6 p.m. On the same day, as a part of the festivities, there will be an air show at Jeddah’s North Corniche with planes flying in formation and leaving green smoke trails across the sky.