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REVEALED: 45 - The Real Truth

Saudi Arabia’s Venture Capital Investments Achieve 770% Growth

A recent Saudi report revealed that the Kingdom’s venture capital investments achieved a growth of 770 percent, reaching a record-high of SAR 2 billion $548 million, up from SAR 236 million in 2018. The Saudi Venture Capital Impact report also showed that the number of investors in Saudi startups rose…

Asharq Al-Awsat

Saudi Arabia Supports Efforts To Develop Innovative Cultural Policies

Saudi Culture Minister Prince Badr bin Abdullah bin Farhan said that the Kingdom supports local, regional and international efforts to develop innovative cultural policies and promote the role of the cultural sector as a major factor of sustainable development. The minister’s remarks came during a high-level ministerial session of the…

Asharq Al-Awsat

Saudi Arabia, Oman Sign MoU in Food and Water Security

The Kingdom of Saudi Arabia and the Sultanate of Oman signed on Thursday a Memorandum of Understanding (MoU) to build relations of partnership and integration in order to achieve the strategic goals of the two countries on food and water security, the Saudi Press Agency reported. The MoU was co-signed…

Asharq Al-Awsat

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Romanian Energy Minister: Saudi Arabia Expedites Global Energy Industry Ambitions

Romanian Energy Minister Virgil Daniel Popescu revealed plans for launching a gas pipeline from Azerbaijan through the Caspian Sea region, using the link between Romania and Hungary to the Central European markets. This comes at a time the world and Europe face uncertainty regarding the supply of Russian oil and…

Asharq Al-Awsat

Saudi Arabia Approves Licensing of New Digital Bank

Saudi Arabia’s central bank announced on Tuesday that the government has approved the licensing of a third digital bank, called D360 Bank, with a capital of 1.65 billion riyals ($440 million). It added that the Kingdom’s Public Investment Fund (PIF) was part of the consortium of companies and investors launching…

Asharq Al-Awsat

Saudi Arabia to Enhance National Products’ Competitiveness in Global Markets

The Saudi Ministry of Industry launched the Made in Saudi Arabia exhibition, meanwhile, experts expect the industrial sector in the Kingdom to grow by 5 to 6 percent, in parallel with an increase in global partnerships thanks to the competitiveness of national products. Held under the slogan of “Our Industries,…

Asharq Al-Awsat

Saudi Arabia Launches Portal for Registering Agricultural Investments Abroad

The Saudi Ministry of Environment, Water, and Agriculture (MEWA) launched the Registration of Agricultural Investments Abroad portal to assess the capabilities to develop agricultural and animal sector activities. Minister of Environment, Water and Agriculture Abdul Rahman al-Fadley inaugurated the portal in the presence of the Governor of the Saudi Grains…

Asharq Al-Awsat

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Saudi Arabia, Cyprus Discuss Joint Cooperation, Combating Terrorism

Cyprus' President Nicos Anastasiades held talks in Nicosia on Sunday with Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah. Discussions focused on cooperation between their countries and ways to develop it in all fields. They also tackled elevating relations to broader horizons in line with the Kingdom's Vision 2030…

Asharq Al-Awsat

Madinah to Host 120 Startups During Int’l Investment Forum

King Salman International Conference Center in Madinah will host 120 startups, including 60 global companies, in the Startup Investment Forum (SIF) from February 21 to 23. The Small and Medium Enterprises General Authority (Monshaat) recently launched the Accelerator and Startup Studio Funds, which targets promising technology fields such as e-commerce,…

Asharq Al-Awsat

Saudi Crown Prince Says 4% of Aramco Shares Moved to Sovereign Wealth Fund

Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4% of Saudi Aramco shares to the Public Investment Fund, Saudi Arabia's sovereign wealth fund, state news agency SPA reported on Sunday. The Crown Prince said the state remains the largest shareholder in Saudi Aramco after the transfer process,…

Asharq Al-Awsat

Saudi Arabia Urges its Citizens to Leave Ukraine

Saudi Arabia urged on Saturday its citizens in Ukraine to leave the country immediately. The Kingdom's embassy in Kyiv also called on all Saudis to delay travel to Ukraine. It said Saudis in Ukraine must contact it immediately to facilitate their departure. Kuwait on Saturday had called on its citizens…

Asharq Al-Awsat

Saudi Arabia, Indonesia Discuss Ways to Enhance Cooperation

Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister and Minister of Defense, has made a phone call to Indonesian President Joko Widodo, the Saudi Press Agency reported. During the phone conversation, they reviewed the bilateral relations between the two countries, and discussed ways to enhance cooperation between the…

Asharq Al-Awsat

Saudi Arabia Pushes for Oil Market Balance, Stability

Saudi Arabia is exerting strenuous efforts to achieve the stability of the oil sector in the global economy, experts told Asharq Al-Awsat. Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed, during a telephone call with US President Joe Biden on Wednesday, the importance of maintaining the balance…

Asharq Al-Awsat

Saudi Arabia Completes Institutional Transformation of its Airports

Saudi Arabia has completed the institutional transformation of its airports towards improving the passenger experience aiming to become among the most competitive airports in the world. The General Authority of Civil Aviation (GACA) and Matarat Holding Company announced the completion of the institutional transformation of 25 of the Kingdom's airports…

Asharq Al-Awsat

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Asharq Al-Awsat

King Salman, Biden Reaffirm Strong Strategic Ties in Phone Call

King Salman received a call from US President Joe Biden on Wednesday, during which the two leaders reaffirmed the historic and strategic ties between the Kingdom and the United States. They discussed the need to strengthen cooperation and achieve stability in the region and world. Biden stressed the US commitment…

Al Jazeera

Biden pledges US support against Houthi attacks to Saudi king

US president speaks by phone to Saudi King Salman amid intensifying Yemeni rebel attacks on the Gulf kingdom.

Asharq Al-Awsat

MAWANI Issues Agency License to OOCL

The Saudi Ports Authority (MAWANI) has issued shipping agent rights to Hong Kong-based container transportation and logistics giant Orient Overseas Cargo Line Co. (OOCL) to pursue activities as a foreign investor across all Saudi ports for a period of three years. The license was granted following OOCL's fulfillment of all…

Asharq Al-Awsat

Saudi Arabia Issues E-Billing to Support SMEs

The Saudi cabinet announced that the Zakat, Tax and Customs Authority has the right to offer financial support to targeted institutions on the e-billing list whose annual revenues do not exceed $813,000. Several specialists told Asharq Al-Awsat that Saudi Arabia aims to stimulate and develop small and medium enterprises (SMEs)…

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Asharq Al-Awsat

Saudi Govt Reiterates Kingdom's Firm Commitment to Combating Terrorism

The Saudi government reiterated on Tuesday the Kingdom's firm commitment to combating terrorism. Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in person in Riyadh. The government highlighted the Kingdom's speech before the annual briefing of ambassadors of member states of…

Asharq Al-Awsat

Bahrain Launches Golden Residency Visa

The Bahraini government announced the launch of the Golden Residency Visa, part of a series of economic initiatives within the Economic Recovery Plan. The visa will contribute to enhancing the competitiveness of Bahrain, supporting development paths across various economic, investment, and service sectors. It will also attract talent and open…

Asharq Al-Awsat

Saudi Arabia’s World Defense Show to Feature Industry Giants

Under the patronage of King Salman bin Abdulaziz, Saudi Arabia is preparing to host the World Defense Exhibition - the most important global event in the field of defense and security - in the presence and participation of the giants of the aviation, security and defense industries from 37 countries.…

Asharq Al-Awsat

Kuwaiti Companies to Invest $90 Mln in Eastern Saudi Arabia

Kuwaiti investors have signed two investment contracts with the Eastern Province Municipality in Saudi Arabia to establish entertainment centers and a commercial mall, with a value of 340 million riyals ($90.6 million). “Attracting investors from outside the Kingdom indicates that the Eastern Province possesses an attractive infrastructure for establishing investments…

Asharq Al-Awsat

Saudi Arabia: Umrah Performers Must Present Negative PCR Test

The Saudi Ministry of Hajj and Umrah updated the procedures for entering Saudi Arabia for Umrah performers and visitors to ensure their health and safety. The Ministry explained that based on reports of the competent authorities regarding the measures taken by the Kingdom to counter the coronavirus and its variants,…

Asharq Al-Awsat

GAMI Establishes Human Capital Roadmap in Saudi Military Industries

The Saudi General Authority for Military Industries (GAMI) launched the human capital strategy for the local military industries sector. Saudi ministers stressed the importance of localizing the military sector to enhance skills and support the development system through the required policies and regulations. The ministers indicated that GAMI has a…

Asharq Al-Awsat

Report Highlights Saudi Incentives for New Technologies, 4th Industrial Revolution Solutions

A recent report revealed five advantages and incentives to enable Saudi Arabia to implement the technologies and solutions of the Fourth Industrial Revolution, including the presence of digital infrastructure equipped with 5G technology, and the Kingdom’s financial and investment capabilities. The Kingdom inaugurated last year a dedicated center on the…

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