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EXPLAINED: 40 - The Real Truth

Saudi Sovereign Wealth Fund Announces Joint Venture with Boeing

SAMI group, a wholly owned subsidiary of the Public Investment Fund and the Kingdom’s national defense localization champion, has announced a preliminary agreement with Boeing. Under the terms of the agreement, both companies will enter into a Kingdom-focused joint venture. The announcement was made at a signing ceremony during the…

Asharq Al-Awsat

Electric Vehicles … A Saudi Step Towards Establishing Sustainable Transportation

The announcement made by Lucid Group, an American electric vehicle manufacturer, on signing several agreements with Saudi government agencies, paving way for laying the groundwork for a full production factory in Saudi Arabia, is an important step that shows the competitiveness of the Kingdom in becoming a perfect investment destination…

Asharq Al-Awsat

Saudi Arabia Expands Hajj to 1 Mln Pilgrims

Saudi Arabia will let up to 1 million people join the Hajj pilgrimage this year, greatly expanding the key event to participants from outside the Kingdom, state media said on Saturday. Pilgrims to Makkah this year must be under age 65 and fully vaccinated against the coronavirus, the ministry of…

Asharq Al-Awsat

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Saudi Crown Prince Meets President, Members of Yemeni Presidential Leadership Council

Saudi Crown Prince Mohammed bin Salman met on Thursday with the president and members of the newly formed Yemeni Presidential Leadership Council, expressing the Kingdom’s hope that its establishment would turn a new page in Yemen. The Crown Prince further stressed Saudi Arabia’s keenness on supporting the country’s security and…

Asharq Al-Awsat

Spanish PM Visits Morocco In Show of Reconciliation Between Both Countries

Prime Minister Pedro Sanchez met with Moroccan King Mohamed VI during an Iftar banquet in the royal residence in Rabat on Thursday, signaling the end of diplomatic tensions centered on Morocco’s disputed region of Western Sahara. Sanchez had arrived earlier in Morocco for a visit to the Kingdom at the…

Asharq Al-Awsat

Saudi Arabia Announces Return of Ambassador to Lebanon

Saudi Arabia announced Thursday the return of its ambassador back to Lebanon. The Saudi foreign ministry said the Kingdom made the decision after the “calls and appeals of the moderate national political forces in Lebanon.” The Kingdom also said Lebanon had agreed to “stop all political, military and security activities…

Asharq Al-Awsat

Gulf, Arab States Welcome Yemeni President’s Decision to Transfer Powers to New Leadership Council

A number of Gulf and Arab states on Thursday welcomed the Yemeni president's decision to transfer his powers to a new presidential council. Saudi Arabia welcomed the announcement of Yemeni President Abd Rabbo Mansour Hadi on launching the presidential council under the Yemeni constitution and the Gulf initiative and its…

Asharq Al-Awsat

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Saudi Arabia Expands Licensing of Foreign Currencies Trade

The Saudi Central Bank (SAMA) announced on Wednesday the licensing of the Al Tabdeel Co.

Asharq Al-Awsat

Saudi Arabia Announces $3 Billion in Urgent Support to Yemen

Saudi Arabia welcomed the announcement of Yemeni President Abd Rabbo Mansour Hadi on launching the Presidential Council under the Yemeni constitution and the Gulf initiative and its executive mechanisms. The Kingdom confirmed its full support for the Presidential Council and its supporting entities to enable it to exercise its duties…

Asharq Al-Awsat

Saudi Arabia to Start Manufacturing Drones, Eyeing Foreign Exports

Saudi Arabia’s INTRA Defense Technologies CEO Abdulsalam Ghamdi said unmanned aircraft systems have become a useful technology for many fields, indicating that a developed country such as the Kingdom cannot ignore its interest in the sector meeting its local needs. Ghamdi highlighted Saudi Arabia’s interest in investing in manufacturing and…

Asharq Al-Awsat

Saudi Arabia Elected Member of International Anti-Corruption Academy

The Oversight and Anti-Corruption Authority, an affiliate of the Saudi government has been elected by the International Anti-Corruption Academy (IACA) as an active member of the Academy’s Board of Trustees for three years. This follows the Kingdom's admission to the Academy’s membership as one of the founding members of the…

Asharq Al-Awsat

Saudi Govt Hails UN Efforts in Reaching Yemen Truce

The Saudi government hailed on Tuesday the United Nations and its envoy on reaching a truce in Yemen. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Jeddah. The ministers remarked that the two-month truce, which was announced on Friday and…

Asharq Al-Awsat

Saudi Arabia Reports No COVID-Related Deaths for First Time in 2 Years

Saudi Arabia reported no COVID-related deaths for the first time in two years. The Kingdom confirmed on Tuesday 116 new infections in the past 24 hours, taking the tally to 751,296. It confirmed 298 recoveries, raising the total to 735,699. The death toll from the virus stood at 9,050.

Asharq Al-Awsat

STC Solutions Announces Binding Offer to Acquire Giza Systems Co.

Saudi Arabian Internet and Communications Services Co. (solutions by STC) announced a binding offer to acquire 89.49% of Giza Systems Co.

Asharq Al-Awsat

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Asharq Al-Awsat

KAUST Launches Green Roads Initiative for Sustainable Development

The King Abdullah University of Science and Technology (KAUST) launched last week the Green Roads Initiative in Thuwal, aimed at protecting the environment and improve sustainable development that contributes to fulfilling a key goal of the Saudi Vision 2030. The Initiative is led by a Social Responsibility team, which is…

Asharq Al-Awsat

Adeer Company Sells Real Estate Project at $480 Million East of Saudi Arabia

Saudi Arabia’s Adeer Real Estate Company announced selling Sumou Al-Khobar project east of the Kingdom for more than SAR1.8 billion ($480 million) during the public auction it organized on Thursday. CEO of Adeer Mutab Al Saad said the auction’s success underlines the advantages that the project enjoys, including its strategic…

Asharq Al-Awsat

Saudi Arabia Welcomes Announcement of Yemen Truce

Saudi Arabia welcomed on Saturday an announcement made by the UN Special Envoy of the Secretary-General for Yemen, Hans Grundberg, for a truce in Yemen, under which all forms of military operations in the country and on the Saudi-Yemeni border will be halted. The Saudi Ministry of Foreign Affairs said…

Asharq Al-Awsat

King Salman Says Ramadan Brings Relief after COVID-19 Hardship

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, greeted citizens and expatriates in the Kingdom and Muslims all over the world on the occasion of the advent of the holy month of Ramadan. In a speech delivered on his behalf by the Acting Minister of Media Majid…

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Asharq Al-Awsat

Saudi Arabia Declares Saturday First Day of Ramadan

Saudi Arabia declared on Friday that Saturday was the first day of the holy fasting month of Ramadan. "Tomorrow, Saturday, will be the first day of the blessed month of Ramadan," the Kingdom said Friday, in a statement carried by the official SPA news agency. Bahrain, Kuwait, Qatar and the…

Asharq Al-Awsat

Saudi Arabia Approves Project to Boost Competitiveness of Gulf Mining Sector

The Saudi government recently approved the unified general guiding principles for mining for the Gulf Cooperation Council (GCC) countries. The principles were adopted by the GCC Petroleum Cooperation Committee at its 36th meeting in November 2020. According to official information, the new procedure will boost the competitiveness of the mining…

Asharq Al-Awsat

Saudi Deposit Promotes Stability of Egypt’s Foreign Exchange Market

With Saudi Arabia’s announcement of a $5 billion deposit with the Central Bank of Egypt on Wednesday, sources told Asharq Al-Awsat that this move would enhance the stability of the foreign exchange market and consolidate the Egyptian economy amid severe pressure on the Egyptian pound. In a statement published by…

Asharq Al-Awsat

King Salman: Umm Al-Qura Witnessed the Establishment of Saudi Arabia, Rose with Its Great Renaissance

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, affirmed on Wednesday the grace and blessings bestowed upon the Kingdom of Saudi Arabia in embracing the Two Holy Mosques and serving pilgrims, Umrah performers and visitors, which is the approach of this country since it was founded by…

Asharq Al-Awsat

Saudi Arabia Calls for Sighting Ramadan Crescent Moon on Friday

Saudi Arabia’s Supreme Court has called on all Muslims throughout the Kingdom to sight the crescent moon of the holy month of Ramadan on Friday evening, state news agency (SPA) reported. The Supreme Court called on whoever sights the crescent moon by naked eyes or through binoculars to report to…

Asharq Al-Awsat

Thai Labor Ready to Enter Saudi Market

The Thai Ministry of Labor established a center specialized in rehabilitating and training workers in all professions, signaling the revival of relations and the entry of Thai labor into the Saudi market. Thai Minister of Labor Suchart Chomklin stated that many Thai nationals work in Japan, South Korea, Taiwan, and…

Asharq Al-Awsat

Saudi ‘Jada’ Plans Attractive Investment Funds in NEOM

Saudi Arabia’s Jada Fund of Funds plans launching funds to attract investments in favor of NEOM, revealed Jada CEO Adel Al-Ateeq. “We are looking to increase the volume of Jada’s investment by more than SAR 4 billion ($1.06 billion),” Al-Ateeq told Asharq Al-Awsat.

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