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  • Aramco fosters closer collaboration with key Chinese partners

    The agreements reinforce Aramco’s ongoing contribution to China’s long-term energy security and development, support China’s participation in Saudi Arabia’s economic growth, and foster collaboration in new technology development. They include preliminary documentation relating to a Development Framework Agreement with Rongsheng Petrochemical Co. Ltd. (Rongsheng) and a Strategic Cooperation Agreement with Hengli Group Co., Ltd.

  • Over 1 million Saudi ID cards renewed through Absher

    The Ministry of Interior, represented by its Civil Status Agency, has carried out more than one million national ID card renewals through the Absher platform. This is through using the latest facial recognition technologies since the launch of the electronic service in 2022. Saudi male and female citizens have benefited from the national ID card renewal service by uploading a personal photo electronically through the Absher platform, and it is possible to renew the ID 180 days before its expiry without the need to visit personally the Civil Status offices.

  • A new crisis may plunge Libya back into chaos

    In recent months, though, the considerable drama gripping the country has been far more shadowy, shaped by backroom deals, black market transfers and illicit smuggling. But it’s equally important and fraught. A rolling crisis over control of Libya’s central bank has paralyzed the economy and sparked new fears of conflict. Oil exports have dropped precipitously in recent weeks, while ordinary Libyans are facing long lines at gas stations, restrictions on their ability to withdraw cash from banks and a collapsing electricity grid.

  • Personal Data Protection Law Transition Period to end on September 14, 2024

    The one-year transition period granted to bring businesses’ activities into compliance with the Personal Data Protection Law of the Kingdom of Saudi Arabia is about to end on September 14, 2024. Given the law’s extraterritorial reach, it is crucial to consider its applicability and the data protection measures implemented.

  • Pakistan requests Saudi Arabia to provide $1.2bn oil facility

    The Saudi government wants to invest in the Reko Diq project to procure 15 percent stakes in two phases but the transaction is yet to be accomplished. Pakistan had struck a staff level agreement with the IMF under the $7 billion Extended Fund Facility (EFF) but it is yet to be placed before the Fund’s Executive Board for approval of the loan.

  • Non-Saudis invest over $106.6B in Saudi market

    The Saudi Exchange Co. (Tadawul) is working on introducing a package of developments in the derivatives and options contracts market, which was launched in December 2023 to boost liquidity and diversify contracts, CEO Mohammed Al-Rumaih said.

  • Hong Kong in talks with UAE and Saudi sovereign wealth funds for Asia investments

    Hong Kong is in talks with sovereign wealth funds in Dubai, Abu Dhabi and Riyadh to channel their investments into broader Asian markets including China and enable deals for Asian investors in the Gulf, a senior government official has said. The city, one of the biggest financial and trading hubs in Asia, has already developed a strong deal pipeline in Asia, the GCC and the broader Middle East region, in sectors such as energy, sustainability, infrastructure and utilities, commissioner for Belt and Road Nicholas Ho told The National.

  • Sudan accuses UAE of arming rivals and prolonging war, UAE accuses Sudan of refusing to talk peace

    The Sudanese government accused the United Arab Emirates on Wednesday of providing weapons to its rival paramilitary force and prolonging the 17-month war. The UAE called the allegations “utterly false” and “baseless” and accused the government of refusing to negotiate peace with its enemy.

  • Iran turns to Hells Angels and other criminal gangs to target critics

    Instead, officials said, Iran hired criminals in Eastern Europe who encountered few obstacles as they cleared security checks at Heathrow Airport, spent days tracking Zeraati and then caught departing flights just hours after carrying out an ambush that their victim survived — perhaps intentionally, investigators said, to serve as a warning but not trigger the fallout that would come with the murder of a British citizen.

  • Chinese Premier vows stronger trade, investment ties with Saudi Arabia

    “China and Saudi Arabia should further expand the scale of bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure construction … [while expanding] to new energy, information and communications, digital economy, green economy … and work together to maintain the stability of the global industrial supply chain,” the premier said, according to the official People’s Daily newspaper.

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