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  • Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud

    Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.  The Secretary and the Foreign Minister discussed ongoing diplomatic efforts to reach a ceasefire in Gaza that provides for the release of the hostages, a significant and sustained increase in humanitarian assistance, and improved humanitarian access throughout Gaza.  They continued discussions about how to establish governance, security, and reconstruction in the post-conflict period in a way that builds lasting peace and security, as well as steps to further greater regional integration.

  • Saudi POS spending regains momentum with 48% rise

    Saudi Arabia’s point-of-sale spending increased by 48 percent to reach SR12.34 billion ($3.29 billion) from June 23 to 29, with the education sector registering the largest surge. The latest data from the Saudi Central Bank, also known as SAMA, revealed that the transaction value in the sector, which accounts for only 0.05 percent of the total number of transactions, saw a 1,970 percent increase, reaching SR99.06 million during the week.

  • Saudi Arabia increases retirement age under new Social Insurance Law

    GOSI stated that the statutory retirement age for individuals affected by the amendments will range between 58 and 65 Gregorian years. This will involve a gradual increase, starting with an addition of four months to the current statutory retirement age, based on the contributor’s age at the date when the amendments come into effect. While for early retirement, the required contribution period will range from 25 to 30 Gregorian years, with a gradual increase starting with an addition of 12 months to the current required contribution period, depending on the contribution period at the date the amendments come into effect.

  • Saudi Arabia announces $10 million in aid for Lebanon, inks agreement for 28 projects

    KSrelief and the High Relief Commission in Lebanon also inked an agreement for 28 projects across the country. The announcements came during the signing ceremony between the two commissions at the Grand Serail in Beirut. Mohammed Khair, head of the Higher Relief Committee, signed the agreement of joint cooperation with Abdulrahman Al-Quraishi, director of KSrelief in Lebanon.

  • Saudi Arabia accepts over 80% of UN Human Rights Council recommendations

    Saudi Human Rights Commission (HRC) President Dr. Hala Al-Tuwaijri said that Saudi Arabia is committed to attaining the highest international standards in protecting and promoting human rights. She emphasized that this commitment is based on the country's deeply rooted principles and values and the leadership's prioritization of human welfare above all else. Dr. Al-Tuwaijri's remarks came at the UN Human Rights Council in Geneva on Thursday during Saudi Arabia's participation in a session to adopt the results of the fourth cycle of the Universal Periodic Review mechanism.

  • Brazil’s Bolsonaro formally accused over Saudi gifts, sources say

     Brazilian federal police on Thursday formally accused former President Jair Bolsonaro of embezzlement for allegedly misappropriating jewelry he received while head of state, including luxury items given by the Saudi Arabian government, two police sources said. This is the second time police have formally accused Bolsonaro of a crime. He was charged in March with forging his COVID-19 vaccine records.

  • European Lithium unveils plans for Saudi Arabia hydroxide plant

    ASX-listed European Lithium has announced a shareholders agreement with Obeikan Group to construct and commission a large-scale hydroxide processing plant in Saudi Arabia to convert spodumene concentrate from the Wolfsberg lithium project, in Australia.

  • Saudi Arabia Cuts Oil Prices for Asia for Second Straight Month

    Top oil exporter Saudi Arabia cut prices for all crude grades it sells to Asian customers for a second month in a row in August amid robust supply from countries outside OPEC and uncertainties over the demand outlook. State-owned oil giant Saudi Arabian Oil Co., known as Aramco, set its official selling price for August loadings of its flagship Arab Light crude to Asia--its main market--at $1.80 a barrel over the Oman/Dubai average, from $2.40 a barrel in July. Prices for other lighter and heavier crude grades were also lowered.

  • Saudi private sector workforce surges above 11.4m – official figures

    Private sector employment in Saudi Arabia reached 11.4 million by the end of June, marking a 1.24 percent increase from April. The National Labor Observatory has released a detailed report on the state of the Kingdom’s labor market, highlighting the robust nature of the private sector and its ability to generate employment opportunities, making it a significant contributor to the national economy.

  • Saudi SAMI, Turkish firms establish new defense collaborations

    State-owned Saudi Arabian Military Industries (SAMI) announced early on Thursday it signed three memorandums of understanding (MoUs) with Turkish companies to "support the localization of defense industries" in the kingdom. In a statement, SAMI said it agreed with Türkiye's drone maker Baykar to "establish manufacturing capabilities" and develop systems for Baykar's unmanned aerial vehicles in Saudi Arabia.