Saudi Arabia mulls selling additional shares in Aramco to raise SR40 billion, Bloomberg reports
Saudi Arabia is considering reviving plans for a follow-on share offering in Saudi Aramco to raise at least SR40 billion ($10 billion) as early as February, Bloomberg News reported on Wednesday, citing sources familiar with the matter. The report follows the Saudi government’s directive on Tuesday to Aramco to halt its oil expansion plan. According […]
FDI inflow to Saudi Arabia jumps 20% to SR762 billion during 2022
The balance of foreign direct investment (FDI) in Saudi Arabia jumped to SR762 billion ($203.2 billion) by the end of 2022, compared to 2021 when it reached SR659 billion ($175.7 billion). The Annual Foreign Direct Investment for 2022 data, released by the General Authority for Statistics (GASTAT), showed that the inflow of foreign direct investment […]
Council of Economic and Development Affairs reports over 98% performance increase
The Council of Economic and Development Affairs (CEDA) has reported a increase in performance indicators of over 98% during its recent virtual meeting. The Council discussed several reports and agenda topics, including a comprehensive analysis by the Ministry of Economy and Planning on local and international economic developments. This analysis provided insights into the latest […]
Saudi Arabia launches ‘GenAI for All’ initiative at Digital Cooperation Organization
In a move to bolster digital cooperation and artificial intelligence (AI) capabilities, Saudi Minister of Communications and Information Technology Abdullah Al-Swaha announced the launch of the ‘Generative Artificial Intelligence for All’ initiative. This initiative, aimed at the member states of the Digital Cooperation Organization, underscores Saudi Arabia’s commitment to advancing AI research, development, and ethical […]
Crown Prince and Cameron discuss regional security
Crown Prince and Prime Minister Mohammed bin Salman met with UK Secretary of State for Foreign, Commonwealth and Development Affairs David Cameron in Riyadh on Wednesday. During the meeting, the two leaders reviewed diverse aspects of bilateral relations and explored areas of cooperation as well as ways to enhance and develop them. Current regional developments […]
Saudi Arabia and Kuwait assert ownership of Durra field
Saudi Arabia and Kuwait underscored their unequivocal stance regarding the Durra field, asserting its location entirely within Kuwait’s exclusive maritime areas. They emphasized that the natural resources in the divided submerged area, including the Durra field, are shared exclusively between Saudi Arabia and Kuwait. This unequivocal stance rejects any claims of rights by any […]
