Saudi Arabia News — AKHBAR.COM

RIYADH — Saudi Arabia has approved executive procedures regulating how long privately owned vehicles registered in other Gulf Cooperation Council (GCC) countries may remain in the Kingdom, setting a standard limit of 90 days within a 365-day period.Zakat, Tax and Customs Authority (ZATCA) Governor Suhail Abanmi approved the procedures in coordination with the Ministry of…

ALBAWABA — U.S. President Donald Trump wants to stop the BBC from questioning members of his family as his $10 billion defamation lawsuit against the British broadcaster proceeds toward trial...

President Donald Trump announced Friday that the United States would temporarily allow a greater volume of foreign beef imports, in his latest bid to lower costs for American consumers as midterm elections approach. The US…

Saudi Awwal Bank, one of the leading banks in the Kingdom of Saudi Arabia, has partnered with noon, one of the region’s leading e-commerce platforms, to launch a first-of-its-kind co-branded Visa credit card with unique benefits. Designed in line with modern digital shopping habits, the "SAB noon Visa credit card" is one of the leading…

RIYADH — The Saudi General Directorate of Passports has announced the services available through electronic authorization and provided a list of services that can be accessed through its account on the Absher platform. The service enables Absher users to electronically authorize another person to complete a service on their behalf. Users can also view and…

ALBAWABA - Gregory Baker, an academic at Macquarie University in Australia, won a case against the university without any human lawyers – relying instead on a fully AI legal team...

The World Bank on Friday projected that Lebanon's economy would contract by 6.4 percent this year, as the latest Israel-Hezbollah war derailed the country's efforts at recovery. Lebanon has been dealing with an unprecedented financial…

RIYADH — Saudi Arabia's Public Investment Fund (PIF) recorded a sharp increase in profitability in 2025 while expanding its assets, domestic investments and contribution to the Kingdom's non-oil economy, according to its latest annual report.Revenue rose 9% to $120 billion, while net profit more than doubled to $17 billion, reflecting growth across PIF's portfolio and…

RIYADH — The Ministry of Commerce conducted 2,259 inspection visits to bookstores and stationery shops across the Kingdom as preparations intensify for the start of the new academic year.The inspections aimed to verify the availability of school supplies and a variety of alternative products, as well as monitor price stability.Inspectors also checked that products carried…

ALBAWABA - U.S. President Donald Trump said in a statement that Iran will face “the most crushing economic operation ever” and any country that trades with Iran will “face tremendous economic consequences...

Tunisia's olive oil exports surged 55.3% to a record 368,000 metric tons in the first nine months of the 2025/26 season, bringing in $1.6 billion in export revenue, up 44.4% from a year earlier, official…

Mannai Information Technology Saudi Arabia has strengthened its commitment to the Kingdom with the opening of its regional headquarters in Riyadh. Positioned as a hub for leadership, engineering, customer delivery, and local talent development, it will support the company's long-term growth strategy and Saudi Arabia's Vision 2030. The expansion aligns with Saudi Arabia’s focus on…

RIYADH — The General Authority of Foreign Trade (GAFT) has announced the launch of an anti-dumping investigation into Saudi Arabia’s imports of multi-layer coated cardboard with a grey back and a white or other-colored face, weighing 180–500 grams per square meter and originating in or exported from India and China.The decision to launch the investigation…

ALBAWABA - John Long, pig farmer and Trump voter, was scammed out of $20 million by a Ponzi scheme created by Marian Morgan – after she was sentenced to 33 years in prison, Trump pardoned her...

Apple paid Ireland $17.1billion in taxes last year, representing around 40% of its worldwide total, according to a company filing that detailed the iPhone maker's global tax liabilities country-by-country. Apple said the amount paid to…

Gulf states are expanding their ambitions in critical minerals, deploying capital, industrial infrastructure and international partnerships as governments and companies seek to diversify supply chains that remain heavily dependent on China. Saudi Arabia has emerged as the region’s most active player, putting mining and mineral processing at the centre of its wider industrial diversification plans.…

RIYADH — The Insurance Authority has directed health insurance providers in Saudi Arabia to offer a health insurance product without pre-medical approval requests for outpatient services. This is part of the authority’s efforts to address a key challenge faced by health insurance beneficiaries in recent years. The product will be an additional option among the…

ALBAWABA - The United States is developing a new, wide package of economic measures aimed at increasing pressure on Iran, with senior officials describing the planned penalties as among the harshest ever imposed on a single country...

Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fueled a shift to riskier assets. The world's biggest cryptocurrency by…

MODA & JAECOO is advancing its smart mobility ecosystem through SIVP — Super Intelligent Valet Parking, an intelligent parking assistance technology designed to address real-world urban driving challenges. As parking remains one of the most common pain points for drivers, especially in crowded cities, shopping malls, narrow parking spaces and open-air parking areas during high-temperature…

RIYADH — Saudi Arabia’s Operating Revenues Index increased 6.1 percent year-on-year in June 2026, while the number of issued building permits jumped 20.3 percent, according to preliminary results from the General Authority for Statistics (GASTAT). The annual increase in operating revenues was supported by growth of 16.9 percent in manufacturing activities as well as in…

ALBAWABA - Almost a year after a spectacular falling out between President Donald Trump and entrepreneur Elon Musk, the pair appear to be inching closer together, united by common political and economic objectives...

Euro zone business activity has grown at its fastest pace this year in August, buoyed by stronger new orders — particularly in manufacturing — and a return to export growth, according to a survey which…

SILQ today announced the successful close of a $100 million (SR375 million) financing facility from Gemcorp Capital, Fasanara Capital, and Amwal Capital Partners, marking its first anniversary since the merger of Saudi B2B giant Sary and South Asia’s ShopUp.The new financing will accelerate the expansion of SILQ’s embedded financing platform, Fina, which allows small and…

RIYADH — The National Debt Management Center allocated SR9.518 billion in the August 2026 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The Sukuk issuance was divided into five tranches — separate portions of the overall issuance, each with its own value and maturity date. The first tranche, valued at SR1.550 billion, matures in…

ALBAWABA - Trump Media recently offered a controversial service to the tune of $100,000 which gives early access to Trump’s Truth Social posts before they become available to the public – 10 firms have already signed up...

Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated US-Iran war continues to disrupt supply from the key Middle East producing region. Brent crude futures fell…

barq and Riyadh Air have signed a strategic agreement to develop a comprehensive payment technology solution for the airline. The long-term partnership will support Riyadh Air’s commercial operations through an integrated, secure, and scalable payments ecosystem.Under the agreement, barq will support Riyadh Air in developing payment capabilities across the full payment lifecycle. This will help…

RIYADH — Over the past decade, Saudi Arabia has developed a competitiveness model through wide-ranging economic and development reforms, leading to its selection by the World Bank Group as a global knowledge hub for economic reform. The transformation began in 2016 under Vision 2030, with the aim of diversifying the economy, strengthening global competitiveness and…

ALBAWABA - As anticipation grows for the release of the newest iPhone model 18, some are looking forward to getting the 17 as previous model prices drop when a new model is released – one rumor says not anymore...

Saudi Arabia’s listed real estate companies posted combined net profit of more than $766 million (SAR 2.87 billion) in the first half of 2026, reflecting a resilient performance despite an 18% decline from the same…

RIYADH — Data from the US Treasury Department revealed that Saudi Arabia's holdings of US Treasuries increased by approximately $2.2 billion reaching $142.5 billion in June 2026 compared to the previous monthSaudi Arabia maintained its 17th position among the largest holders of US Treasury bonds. The Kingdom's investments in US Treasury bonds during June were…

ALBAWABA - Amazon’s new 7.65GW AI data center power plant being built in Texas is a custom 35-turbine gas plant authorized to emit 33 million tons of annual greenhouse gases – making it the largest source of carbon dioxide pollution in the U...

As US debt surpasses $40 trillion, Gulf investors are looking beyond the record figure to the broader implications of Treasury yields for capital flows, financing costs and investment strategies. US assets and the dollar remain…

RIYADH — Aramco and Saudi Arabian Mining Company (Maaden) have signed a shareholders’ agreement to establish a joint venture focused on mineral exploration and hard-rock mining in Saudi Arabia, with copper and other minerals critical to the energy transition among its main targets.Under the proposed structure, Maaden will own 51% of the joint venture and…

ALBAWABA - Mamdani passes law taxing luxury second homes leading three New York billionaires to sue for failing to follow state notice requirements and setting off a “panic” in late July...

Prime Minister of Libya's Government of National Unity (GNU) Abdulhamid Dbeibah ordered the country's biggest steel firm, state-owned Lisco, to halt production due to power shortages, the state-owned Alwataniya TV channel reported on Thursday. The…

RIYADH — The Human Resources Development Fund (HADAF) has been instrumental in hiring 329,000 Saudi citizens in the local employment market during the first half of 2026, representing a 23 percent increase compared to the first half of 2025. This achievement reflects the effectiveness of the programs and initiatives implemented by HADAF to promote quality…

Shein aims to launch its Hong Kong initial public offering on Monday, according to a source familiar with the matter, and is targeting a listing on September 1, two other sources said, slightly later than…

RIYADH — Saudi Arabia’s Public Investment Fund (PIF) reported strong financial growth in 2025, with revenue rising 9% year on year to $120 billion and net profit more than doubling to $17 billion, according to its annual report released Monday.PIF maintained more than $900 billion in assets under management (AUM), compared with around $530 billion…

French regulators said Thursday that they had fined the UK fast-fashion site Boohoo 2.33 million euros ($2.7 million) after finding "deceptive trade practices" including fake sale prices. An inquiry by France's anti-fraud and consumer watchdog…

RIYADH — The Insurance Authority and the General Directorate of Civil Defense announced on Sunday the launch of the Third-Party Cooperative Insurance Policy for Crowded Venues and High-Risk Activities. The policy provides civil liability coverage for establishments against bodily injury and property damage that may befall visitors and patrons as a result of accidents at…

Saudi Ambassador to Lebanon Fahd bin Abdulrahman Al-Dosari inaugurated on Thursday the third phase of Lebanese exports to the Kingdom. Saudi Crown Prince and Prime Minister Mohammed bin Salman had ordered the resumption of Lebanese…

RIYADH — Newly appointed Capital Market Authority (CMA) Chairman Mazen Al-Sudairi has pledged to continue efforts to develop and expand Saudi Arabia’s capital market in line with the leadership’s aspirations and the Kingdom’s economic development goals.Al-Sudairi expressed his gratitude to Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed…

The International Monetary Fund has welcomed the Lebanese parliament's passing of amendments to a bank resolution law as a major step, but challenges to implementing the law could further delay recovery for an economy battered…

RIYADH — More than 1.6 million unified electronic car rental contracts were issued to individuals across Saudi Arabia during the second quarter of 2026, according to data from the Transport General Authority (TGA). The data showed a 4 percent increase in the number of contracts compared to the second quarter of 2025, reflecting the continued…

Saudi Air Connectivity Program (ACP), in collaboration with Saudia, has announced an increase in seat capacity across several international routes in 2026. The new step reflects ongoing efforts to strengthen the Kingdom’s air connectivity with…

RIYADH — Saudi Arabia will start implementing 70 percent localization in project management professions in the private sector effective from February 14, 2027. This was announced on Sunday by the Ministry of Human Resources and Social Development. The ministry will implement the decision in partnership with the Ministry of Municipalities and Housing.The decision forms part…