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EXPLAINED: 31 | Rare Historical Photos

Saudi Arabia's Venture Capital Grows Over Half a Billion

Saudi Arabia finished H1 of 2022 with three consecutive half-year periods of growth in venture capital (VC) funding after observing a 244 percent year-on-year increase in funding compared to H1 of 2021. The venture capital market saw a record funding of $548 million. A report issued by the MAGNiTT platform,…

Asharq Al-Awsat

Moody’s Projects Saudi Economy to Grow 3.9% by 2026

Moody’s credit rating agency has expected Saudi Arabia’s economy to register an average growth rate of around 3.9 percent during the period from 2022 to 2026. In an annual in-depth credit analysis report, it said the Kingdom’s credit strengths are derived from its robust government balance sheet, underpinned by moderate…

Asharq Al-Awsat

Saudi Arabia Says There Is a Lack of Refining Capacity in Market, Not Oil

Saudi Foreign Minister Prince Faisal bin Farhan stressed on Tuesday the Kingdom's commitment to the stability of energy markets. The Minister said Saudi Arabia is focused on maintaining the stability of oil markets through OPEC+, asserting that dialogue within the group is very active and responds to the requirements of…

Asharq Al-Awsat

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Saudi Focus on Minerals Needed in Power Transition, EVs

Saudi Vice-Minister for Mining Affairs Khalid Al-Mudaifer has predicted a fourfold increase in the demand for minerals used in clean energy technologies and electric vehicles by 2040. Al-Mudaifer stressed that the Kingdom of Saudi Arabia is focused on benefiting from the knowledge and experience of developed mining regions. The vice-minister…

Asharq Al-Awsat

Saudi SAMI Signs Agreements with Airbus Helicopter Arabia, Singapore's ST Engineering

The Aviation and Space Systems Sector, an affiliate of Saudi Arabian Military Industries (SAMI), signed on Monday a contract with Airbus Helicopters Arabia, the Kingdom’s subsidiary of Airbus helicopters to support SAMI in building its technical capabilities to provide rotercraft technical support to Saudi Armed forces.

Asharq Al-Awsat

Saudi Arabia Has Several Defense Options to Counter Varying Sources of Threat

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud said that the United States was a key partner in defense purchase, but affirmed that the Kingdom had a number of other options to strengthen its defense and armament systems in the event that US equipment could not be obtained. In…

Asharq Al-Awsat

Saudi Leadership Receives Cables from Kuwait Crown Prince

The Saudi leadership received on Sunday cables from Kuwait’s Crown Prince Mishaal Al-Ahmad Al-Jaber Al-Sabah, who hailed the Kingdom’s hosting of the Jeddah Security and Development Summit. The cable, sent to Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, praised the constructive…

Asharq Al-Awsat

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Al-Falih: Saudi Investment Relationship with US Developing in Serving Both Countries

Saudi Minister of Investment Engineer Khalid Al-Falih hailed the Jeddah Security and Development Summit that was held on Saturday. “These meetings come at a particularly critical period and offer us the opportunity to boost the relations and strategic partnerships between our countries and the United States, for the good of…

Asharq Al-Awsat

Saudi FM: Our US Partnership is Continuous, No Military Cooperation with Israel

Saudi Foreign Minister Prince Faisal bin Farhan said that the Kingdom’s hand is extended to Iran to reach normal relations, pointing out that the talks with Iran were positive, but did not reach any results. “We are keen on finding a path to normal relations with neighboring Iran, and this…

Asharq Al-Awsat

Saudi Arabia Calls on Iran to Cooperate with Regional Countries, US Says Won’t Leave Void to Be Filled by Others

Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, chaired on Saturday the Jeddah Security and Development Summit on behalf of Custodian of the Two Holy Mosques King Salman bin Abdulaziz. The summit was attended by leaders of the Gulf Cooperation Council (GCC) countries, as well as…

Asharq Al-Awsat

Biden Leaves Saudi Arabia after 2-Day Visit

US President Joe Biden left Jeddah on Saturday after a two-day official visit to the Kingdom of Saudi Arabia, during which he participated in the Jeddah Security and Development Summit. The President was seen off at the Royal Terminal at King Abdulaziz International Airport by Prince Khalid Al-Faisal, Advisor to…

Asharq Al-Awsat

Saudi Arabia, US Sign MoU to Promote Cybersecurity Cooperation

The Saudi National Cybersecurity Authority (NCA) has signed a Memorandum of Understanding for Cybersecurity Cooperation with the US Department of Homeland Security (DHS), Cybersecurity and Infrastructure Security Agency (CISA). The MoU was signed on the sidelines of US President Joe Biden’s visit to the Kingdom. It aims to promote bilateral…

Asharq Al-Awsat

US Doubles Visa Time for Saudis

Saudi citizens will soon be able to obtain 10-year visitor visas, double the current validity, in an agreement during US President Joe Biden's visit to Saudi Arabia. The US Embassy in Saudi Arabia announced Saturday the agreement extends the validity of visitor visas for Saudi citizens from five years to…

Asharq Al-Awsat

Saudi Arabia Signs Artemis Accords with NASA to Explore Moon and Mars

Saudi Arabia signed on Saturday the Artemis Accords with NASA to join the international alliance in civil exploration and the use of the moon, Mars, meteorites, and comets for peace and the beneficial use of space for all of humanity, and to bring Man back on the moon. The Artemis…

Asharq Al-Awsat

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Asharq Al-Awsat

Saudi Arabia Signs 56 Agreements to Prevent Double Taxation

In line with Vision 2030, Saudi Arabia is seeking to strengthen its international presence by attracting foreign capital for investment, obtaining tax exemptions for government investments, and exchanging customs information. Asharq Al-Awsat obtained a copy of a recent report issued by the Zakat, Tax and Customs Authority which showed that…

Asharq Al-Awsat

Jubeir Says Biden's Visit is Huge Indication of Kingdom's Regional, Int’l Role

Saudi Minister of State for Foreign Affairs Adel al-Jubeir affirmed that Saudi Arabia and the US have strong historical and strategic relations in all fields. Jubeir said the visit of the US president is an excellent indication of the Kingdom's role in the region and the world, noting that the…

Asharq Al-Awsat

Jeddah Communique Stresses Importance of Saudi-US Strategic Partnership

A joint Saudi-US statement reviewed aspects of the strategic partnership between Saudi Arabia and the US over the coming decades with the aim of advancing their mutual interests and a common vision for a more peaceful, secure, prosperous, and stable Middle East. This came following the visit of President Joe…

The Times of India

Joe Biden expects more Saudi oil after trip to kingdom

RIYADH: President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.

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The Guardian - UK

Joe Biden lands in Saudi Arabia seeking to halt shift towards Russia and China

Analysis: US president aiming to convince Jeddah to increase oil supply in order to calm global energy markets

Asharq Al-Awsat

Saudi Crown Prince Meets with Biden at Al-Salam Palace in Jeddah

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, and US President Joe Biden held talks at the al-Salam Palace in Jeddah on Friday. Talks focused on aspects of cooperation between their countries and ways to confront regional and world challenges. Saudi and American officials attended…

Asharq Al-Awsat

Biden Departs Israel, Palestinian Territories to Saudi Arabia

US President Joe Biden departed on Friday Israel and the Palestinian Territories, heading to Saudi Arabia, the second stop of his tour of the Middle East. He will carry out a two-day visit to the Kingdom where he will hold a bilateral meeting with Custodian of the Two Holy Mosques…

Asharq Al-Awsat

Biden’s Visit to Saudi Arabia Raises Prospects of Strengthening Investment Partnerships

President Joe Biden’s visit to Saudi Arabia will likely raise the level of economic partnerships and increase bilateral trade and investments between the US and the Kingdom, economists predicted, adding that the trip might give strategic ties a push in the right direction. The strategic partnership shared between the US…

Asharq Al-Awsat

Morocco Firefighters Battle Infernos as Villagers Flee

Hundreds of Moroccan firefighters and soldiers battled late Thursday to put out at least four infernos ripping through forests in the north of the kingdom, officials said. The fires, fanned by strong winds in the four areas, have not resulted in any casualties so far, but nearly 500 families were…

Reuters

Saudi Arabia to open its airspace for all air carriers - statement

The General Authority of Civil Aviation (GACA) said late on Thursday that Saudi Arabia decided to open the Kingdom's airspace for all air carriers that meet the requirements of "the authority for overflying".

Asharq Al-Awsat

Modon Proceeds Towards Completing Infrastructure in Saudi Industrial Cities

Saudi industrial cities are witnessing tangible progress to become the preferred investment destination. During the past year, the Saudi Authority for Industrial Cities and Technology Zones (Modon) updated its strategy in line with Vision 2030. The strategy seeks to place Modon as the best investment destination through several initiatives to…

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