Saudi Arabia News — AKHBAR.COM

Iraq's central bank devalued the dinar currency against the dollar on Wednesday, with the country facing a deepening crisis brought on by the Middle East war. Crude oil sales account for nearly 90 percent of…

Dr. Soliman Fakeeh Hospital – Jeddah has further strengthened its global presence in specialized healthcare, with five of its medical specialties included for the first time in Newsweek’s World’s Best Specialized Hospitals 2027 ranking, published in collaboration with Statista.The official results placed Dr. Soliman Fakeeh Hospital – Jeddah first among Saudi hospitals across both the…

ALBAWABA - The Democratic Socialists of America (DSA)-backed programs could increase US government deficits by almost $49 trillion over the next ten years, according to a new White House economic assessment, intensifying the political fight over socialism ahead of the 2026 midterm elections...

RIYADH — The Ministry of Commerce has emphasized that businesses engaged in the trade of precious metals and gemstones must verify customer identities and undertake due diligence when conducting cash purchases or sales valued at SR50,000 or more, whether in a single transaction or through multiple transactions that appear to be related. According to a…

Recent disruptions to oil trade flows have highlighted the importance of having multiple routes to market and infrastructure capable of absorbing shocks, at a time when geopolitical risks and bottlenecks facing the global energy system…

Saudi Awwal Bank, one of the leading banks in the Kingdom of Saudi Arabia, has announced a SAR10 million contribution to a developmental housing initiative implemented by the Adult Disability Association (Harakia) and the Developmental Housing Foundation (Sakan). Over a three-year period, the initiative will support 100-low-income individuals with mobility impairments with 100 homes adapted…

ALBAWABA - According to CNN, an Iranian-Turkish dual national was extradited from Montenegro to the US to face charges related to an alleged years-long cyber operation that targeted US government agencies, universities, and tech firms...

MANAMA — Saudi Energy Minister Prince Abdulaziz bin Salman announced Tuesday that the Kingdom has restored 5.8 million barrels per day of operational capacity through the East-West Pipeline as of Tuesday morning.Speaking during a panel discussion at the Made in GCC 2026 Forum and Exhibition in Manama, Prince Abdulaziz said the Kingdom had restored the…

HSBC is planning sweeping job cuts across its UK wealth management business, including a sharp reduction in financial advisers and specialist staff, as part of a broader push to integrate AI, the Financial Times reported…

Almasar Alshamil Education’s listing on the Saudi Exchange (Tadawul) in December last year marked a significant milestone in the company, entering a new phrase of growth, establishing a stronger foundation for expansion, transparency and accountability.As Saudi Arabia’s largest provider of Special Needs Education and Care (SEC) and the UAE’s leading private higher education provider, Almasar…

ALBAWABA - The deal is part of ongoing negotiations between the two countries to end the Ukraine war which has dragged on for more than four years since Russia’s invasion in 2022...

RIYADH — A total of 106 suspected cases of commercial cover-up were detected during inspection tours carried out during the last month of September. The violators were referred to the competent authorities for investigation before the imposition of deterrent penalties against those found guilty of the crime. The National Program to Combat Commercial Concealment has…

Norway's minority Labour Party government said on Wednesday it plans to raise its spending level in 2027 from the country's $2.3 trillion sovereign wealth fund to help cover public expenses. The government proposed withdrawing 608.4…

Al Watania Poultry marked three major milestones during the Middle East Poultry Expo, with Sheikh Sulaiman bin Abdulaziz Al Rajhi receiving an excellence award in the poultry industry, the company receiving an excellence award for social responsibility and cooperative work, and the signing of two strategic agreements aimed at strengthening technical and operational capabilities.Al Rajhi’s…

ALBAWABA - August 2026 marks the first month in which EVs outsell gas and diesel cars in Europe for the first time ever amid high oil prices and government incentives...

RIYADH — Saudi Aramco CEO Amin Nasser warned that global oil stockpiles have fallen to alarmingly low levels, leaving energy markets vulnerable to further supply disruptions unless the Strait of Hormuz fully reopens. “Rebuilding reserves depleted during the Middle East conflict could take up to two years,” he said while speaking at the 2026 Energy…

Credit rating agency Moody’s said on Tuesday that the fiscal recovery planned for Saudi Arabia in 2027 supports its view that prudent fiscal management will remain a key factor in spending and borrowing decisions. The…

Saudi Awwal Bank, one of the leading banks in the Kingdom of Saudi Arabia, has announced that Swift’s new retail payments system is now available to its customers, providing greater transparency and visibility across international transfers. This step also helps address one of the key challenges in international transfers by delivering a more consistent experience…

ALBAWABA - The argument between the CEOs started over Musk’s Starlink which US airlines are adopting at a rapid pace for their inflight internet; all with the exception of Delta Airlines which refuses to do business with Elon Musk...

RIYADH — Saudi Arabia’s non-oil private sector maintained its growth trajectory in September, reaching its highest level in seven months, according to the latest Purchasing Managers’ Index (PMI) data from Riyad Bank.The data showed that growth in demand recovered to levels approaching its usual pace, while employment and purchasing activity recorded faster rates of expansion.…

Chinese independent refiners have stepped up purchases of crude from Iraq and Qatar for October and November delivery to replace dwindling Iranian supplies, as exports from other Gulf producers through the Strait of Hormuz recover,…

Dar AlMajed Real Estate (Almajdiah) has officially announced the complete sell-out of Phase 1 for its strategic residential project, Meshraf Almajdiah, in Madinah. The total sales value reached SAR 231,466,000, encompassing 304 residential units acquired entirely by non-Saudi investors. This milestone underscores the growing appeal of the Saudi real estate market and its capacity to…

ALBAWABA - Iran has been handing millions of barrels of oil to private traders causing a parallel economy worth billions to spring up; these "oil trustees", however, owe billions in unpaid revenues while they receive new shipments on credit, according to leaked documents...

RIYADH — Saudi Arabia’s Capital Market Authority (CMA) is preparing a package of market reforms to be introduced within 90 days, with plans including a larger retail investor share in initial public offerings, tighter oversight of algorithmic trading and new controls on short selling.In his first media interview since being appointed chairman of the CMA…

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that oil pumped through the East-West Pipeline, reached 5.8 million barrels as of Tuesday morning. The pipeline runs to the Kingdom's Red Sea export hub…

Emrina A.Ş., a Türkiye-based real estate development company, is expanding its activities in Saudi Arabia under the Bayt Al Maqam brand, with a focus on next-generation residential and real estate projects in Makkah.Bayt Al Maqam aims to establish an institutional bridge between local developers in Saudi Arabia and Muslim buyers in Türkiye and other international…

ALBAWABA - Researchers in the Grainger College of Engineering at the University of Illinois have created a printable textile that can cool, detect movement, and generate electricity without external systems or multiple layers...

RIYADH — Remittances of expatriates from the Gulf Cooperation Council (GCC) countries surged to a record $161 billion in 2025, registering a sharp 13.6 percent increase over the previous year 2024 and giving the GCC the world’s highest collective value of outward remittances, according to the report titled “Remittances from GCC countries abroad, 2025,” published…

Saudi Arabia’s Agricultural Development Fund (ADF) is playing a central role in national efforts to bolster food security, allocating SAR 3 billion ($798 million) to finance imports of strategic commodities through direct lending and partnerships…

As the Kingdom celebrates its National Day and Vision 2030 reaches its tenth year, its Country Manager reflects on what six years here have built.Happy National Day. Anyone who last saw Saudi Arabia a decade ago would struggle to recognize it today. I have spent twenty years working across this region, and I have never…

ALBAWABA - U.S. President Donald Trump said on Saturday he has approved new vehicle fuel economy standards, another step in his administration’s dismantling of rules put in place under former President Joe Biden...

RIYADH — The Organization of the Petroleum Exporting Countries and its allies (OPEC+), agreed to keep their oil output level unchanged for the second consecutive month in November, OPEC said in a statement on Sunday. The decision was made after a virtual meeting of OPEC+ member countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria…

Saudi Arabia's economy is expected to stage a strong rebound in 2027 as the effects of disruptions to energy and trade flows fade. The World Bank forecasts the Kingdom's GDP to grow by 7.9 percent…

ALBAWABA - Saudi oil giant Aramco, who normally is an oil and energy producer, has been looking to buy thousands of tons of diesel due to shortages from Houthi attacks...

RIYADH — Saudi Arabia has provided more than SR224 million in new financial support to Yemen’s budget to help cover operational expenses and salaries.The support, provided through the Saudi Development and Reconstruction Program for Yemen (SDRPY) under the directives of the Saudi leadership, is intended to help ensure regular government financial flows and salary payments…

The World Bank said Tuesday that if the Middle East conflict subsides by the end of this year, regional growth excluding Iran is projected to rebound to 7.8% in 2027. In a report titled “From…

ALBAWABA - Toyota is in a race to achieve its goal of deploying 400,000 factory robots, still, a Toyota executive says that the robots are not meant to replace human workers...

RIYADH — The relevant Saudi authorities have set new conditions for importing fruits and vegetables into Saudi Arabia. The validity period for import permits for fruits and vegetables has been fixed at 15 days from the date of issuance. This was part of the new import licensing guide approved by Minister of Commerce Dr. Majid…

The world's richest companies can no longer rely on their massive cash piles alone to stay in the artificial intelligence race and have suddenly started borrowing massively in a shift that is sending repercussions across…

ALBAWABA - While some fear that the advancement of artificial intelligence (AI) could lead to humans being replaced across various fields, this robot's performance suggests such concerns may still be premature...

RIYADH — Minister of Finance Mohammed Al-Jadaan headed Saudi Arabia’s delegation attending the 126th Meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC), held in Bahrain on Thursday.‏The meeting was chaired by Bahrain’s Minister of Finance and National Economy Sheikh Salman Al Khalifa, with the participation of the GCC ministers…

Nvidia-backed Reflection ‌AI debuted its first open-weight model named Beam on Monday, as the startup aims to compete with lower-cost Chinese models such as DeepSeek and Kimi in coding and agentic tasks. Reflection said Beam…

ALBAWABA — Iran has given the United States with a new plan that might reopen the Strait of Hormuz within seven days, presenting a possible path toward resuming talks after months of growing animosity...

RIYADH — The total number of beneficiaries of the “Integration into the Labor Market” initiative, launched by the Ministry of Human Resources and Social Development, reached 135,596 by the end of the second quarter of 2026. The initiative aims to enable workers registered as “absent from work” to rectify their status, transfer to other establishments,…

Pinterest ‌said on Monday it has appointed Amazon executive James Dibbo as its chief financial officer, effective October 26. Dibbo, 56, who will succeed Julia Donnelly at Pinterest, has led finance for the e-commerce giant's…

ALBAWABA - Funds from the European Peace Facility – used to finance military support for Ukraine – were finally released by the EU after being blocked by Hungary under Orban for years...

RIYADH — Saudi Arabia has retained its position as the world's top exporter of dates by value for the fourth consecutive year, with 2025 exports reaching SR1.938 billion, according to data from the International Trade Centre. This is a milestone reflecting the sector's growing contribution to agricultural GDP under Saudi Vision 2030. National Center for…

Stocks of crude oil in the US Strategic Petroleum Reserve fell to 283 million barrels last week, the lowest level since October 1982, according to data from the Department of Energy, Reuters reported. The drawdowns…