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  • Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

    Saudi Arabia’s foreign reserve assets increased by 5.5 percent in June 2024, reaching SAR1.754 trillion ($467.5 billion). This compares to SAR1.662 trillion ($442.98 billion) in the same month of 2023, according to official data. This represents the highest level since November 2022.

  • Saudi budget deficit at $4.09 billion in Q2 2024, finance ministry says

    Saudi Arabia’s budget deficit was 15.341 billion riyals ($4.09 billion) in the second quarter of 2024, the finance ministry said on Wednesday. Saudi oil revenues came in at 212.99 billion riyals in the same quarter, up 18 percent compared with the same quarter a year earlier, while expenditures were up 15 percent at 368.932 billion riyals, the ministry added.

  • Prince Abdulaziz hosts official dinner for Saudi delegation at Paris 2024 Olympics

    Prince Abdulaziz bin Turki bin Faisal, Chairman of the Saudi Arabian Olympic and Paralympic Committee and head of the Saudi delegation participating in the 33rd Summer Olympic Games (Paris 2024) hosted an official dinner for the Saudi delegation in Paris. In his speech at the event, Prince Abdulaziz welcomed all the distinguished guests, including the heads of national Olympic committees, international federations, and sports leaders from around the world who attended the Saudi delegation's dinner.

  • Investment Minister highlights $13.3bln in opportunities for Tabuk region

    Minister of Investment Khalid Al-Falih announced that the volume of ready investment opportunities in the Tabuk region, displayed on the “Invest in Saudi Arabia” platform, is worth more than SR50 billion. This statement was made during a meeting organized by the Tabuk Chamber of Commerce with investors and businessmen in the region on Monday.

  • Korea-Saudi Business Forum Highlights Expanding Cooperation Beyond Oil

    Since establishing diplomatic relations with Korea in 1962, Saudi Arabia has seen its trade volume increase 400-fold, becoming Korea's largest oil supplier and the largest trading partner in the Middle East. The cooperation, which was previously centered on infrastructure construction, has recently expanded to include fields such as eco-friendly energy and artificial intelligence (AI).

  • Vision 2030 is moving along just fine

    Since the launch of Vision 2030 in 2016, the kingdom has made tangible progress towards its targets, despite the challenges posed by the Covid pandemic, volatile oil prices, a surge in inflation and higher interest rates. Steady growth in the non-oil sector is a major area of success, as it benefits from higher domestic investment and improved competitiveness. Stronger investment remains central to the shift in the economy. The approach comprises several investment initiatives under the National Investment Strategy, which aims to lift the contribution of investment to 30 percent of GDP in 2030.

  • World reacts to killing of Hamas leader Haniyeh in Tehran

    The assassination of Hamas leader Ismail Haniyeh in the early hours of Wednesday morning in Iran drew regional and global reactions, raising fears of wider escalation in a region shaken by Israel’s war in Gaza and a worsening conflict in Lebanon. Hamas said that Haniyeh was killed in an Israeli strike in Iran, where he was attending the inauguration of the country’s new president.

  • Iran, its proxies will meet to discuss retaliation against Israel, say sources

    Top Iranian officials will meet the representatives of Iran's regional allies from Lebanon, Iraq and Yemen on Thursday to discuss potential retaliation against Israel after the killing of the Hamas leader in Tehran, five sources told Reuters. The region faces a risk of widened conflict between Israel, Iran and its proxies after Ismail Haniyeh's assassination in Tehran on Wednesday and the killing of Hezbollah's senior commander on Tuesday in an Israeli strike on the outskirts of the Lebanese capital Beirut.

  • Mohammed Deif: Hamas military leader and Oct 7 mastermind was killed in Gaza airstrike, Israel says

    The head of Hamas' military wing, Mohammed Deif, was killed in an Israeli airstrike in Gaza last month, the Israeli military said on Thursday, a day after the group's political leader was assassinated in Tehran. Deif is believed to have been one of the masterminds of Hamas' Oct. 7 attack on southern Israel which triggered the Gaza war. "The IDF (Israel Defence Forces) announces that on July 13th, 2024, IDF fighter jets struck in the area of Khan Yunis, and following an intelligence assessment, it can be confirmed that Mohammed Deif was eliminated in the strike," the military said.

  • FIFA Publishes Saudi Arabia’s Official World Cup 2034 Bid Book

    The official bid book outlines Saudi Arabia’s extensive plans and infrastructure projects and reflects the Kingdom's historic transformation. It provides the Kingdom’s plan to successfully stage one of the world's largest and most important sporting events, the FIFA World Cup.