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  • Saudis Aim to Slash Red Tape as Race for Foreign Cash Heats Up

    The updated law — announced in August and due to take effect in 2025 — will also provide equal treatment for foreigners and locals, freedom to manage investments and repatriate funds, and the ability to appeal penalties and violations. Additionally, investors are set to have more flexibility in how they choose to resolve disputes, including by doing so outside the court.

  • Saudi soccer league remains as ambitious as ever despite quiet transfer window, CEO says

    Despite a relatively quiet transfer window in Saudi Arabia, the arrival of Ivan Toney and Joao Cancelo shows that the ambitions of the cash-rich Saudi Pro League remain as high as ever, according to league chief executive Omar Mugharbel. August ended with Al-Ahli of Jeddah paying London club Brentford a reported 40 million euros ($44 million) for Toney on Friday, three days after Premier League champion Manchester City sold Cancelo to Riyadh’s Al-Hilal.

  • Saudi Arabia’s digital bank ‘D360’ to launch tomorrow

    D360, a digital bank, is scheduled to be officially launched in Saudi Arabia on Sept. 3, on the sidelines of the 24 Fintech conference in Riyadh, which will run from Sept. 3 to 5, according to Al Eqtisadiah newspaper. In February 2022, the Saudi Cabinet approved the Minister of Finance, Mohammed Al-Jadaan, to issue a license to the local digital bank - D360 Bank (under established) – in line with Article No. 3 of the Banking Control Law, data compiled by Argaam showed

  • Massive protests hit Israel after six hostages killed in Gaza

    Massive protests swept Israel on Sunday following the death of six hostages in Gaza as frustration mounted over the failure of the country's leadership to secure a ceasefire deal that would free Israeli captives. Crowds estimated by Israeli media to number up to 500,000 strong demonstrated in Jerusalem, Tel Aviv and other cities, demanding that Prime Minister Benjamin Netanyahu do more to bring home the remaining 101 hostages, about of a third of whom Israeli officials estimate have died.

  • This Saudi video will inspire your next holiday

    There’s a new Visit Saudi video highlighting just how fabulous Saudi really is. A recent video is taking the internet by storm putting a spotlight on the wonders of the Kingdom. “The Land Is Calling” campaign takes viewers on a journey across Saudi, with its contents launching in the UK, France, Italy, Germany and the US.

  • Nazaha arrests 139 government officials over corruption charges

    The arrest follows 2,950 rounds of inspection tour of several government offices by the Nazaha officials. The inspections resulted in the initiation of criminal cases against 380 suspects from a number of government offices such as the Ministry of Interior, Ministry of Defense, Ministry of Education, Ministry of Health, Ministry of Municipality and Housing, and the Zakat, Tax and Customs Authority.

  • Saudi Arabia expands industrial ties with China and Singapore to drive automotive technology localization

    Key stops in China, including Guangzhou and Hong Kong, will involve discussions with major players such as GAC Group, General Lithium, and Huawei. The delegation will also engage with Hong Kong’s top industrial leaders and visit Hutchison Ports, Cyberport, and Johnson Electric. In Singapore, the delegation will meet with key government figures, including the Deputy Prime Minister and the Minister of Trade and Industry, and explore opportunities at Tuas Port, the world's largest automated port. Meetings with A*STAR and the Singapore Manufacturing Federation will further highlight Saudi Arabia’s commitment to integrating advanced technology and automation in its industrial sectors.

  • Saudi Arabia to host Multilateral Industrial Policy Forum, bolstering its Global Leadership Position

    Saudi Arabia, in partnership with the United Nations Industrial Development Organization (UNIDO), will host the Multilateral Industrial Policy Forum (MIPF) in October, underscoring the Kingdom's significant industrial transformation, in line with Vision 2030, and aiming to expand the Saudi industrial base and solidify its position as a leading global industrial center. Organized by the Ministry of Industry and Mineral Resources in Riyadh, the forum is yet another substantial industrial development initiatives the Kingdom relentlessly takes.

  • How Riyadh’s new King Salman Park will provide an urban haven for flora and fauna

    Scheduled to open in 2025, King Salman Park is set to become the largest of its kind in the world, covering about 16.6 sq. km. As a flagship initiative of Saudi Vision 2030, it will not only expand the city’s green spaces, but also enhance quality of life. “King Salman Park is set to redefine Riyadh’s urban landscape,” Khaled Al-Ojyan, an architect with Green Riyadh, told Arab News. “This ambitious project aligns perfectly with Vision 2030, transforming the city into a more sustainable, vibrant and green environment.”

  • GAFT refers 915 investment, export opportunities to Ministry of Investment

    The Saudi General Authority of Foreign Trade (GAFT) referred 915 investment and export opportunities to the Ministry of Investment and the Saudi Export Development Authority (SEDA) in 2023, compared to 948 opportunities referred in 2022. According to GAFT’s annual report, the number of export opportunities referred to SEDA was 660, compared to 871 in 2022. Meanwhile, the number of investment opportunities referred to the Ministry of Investment last year was 255, compared to 77 in 2022.