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Custodian of the Two Holy Mosques King Salman chairs the Cabinet session in Jeddah on Tuesday.
Saudi Cabinet reaffirms expanding investment and trade ties with US, earmarking over $600 billion
Saudi Gazette report JEDDAH — The Saudi Council of Ministers on Tuesday reiterated its commitment to expanding investment and trade relations with the United States with allocation of more than $600 billion over the next four years.The Cabinet session, chaired by Custodian of the Two Holy Mosques King Salman, in Jeddah, noted that over $300 billion was announced in deals and mutual investments at the Saudi-US Investment Forum held during the visit of US President Ronald Trump on May 13 in Riyadh. At the outset of the session, the King thanked US President Donald Trump for accepting the invitation to visit Saudi Arabia and lauded the outcomes of his discussions with Crown Prince and Prime Minister Mohammed bin Salman. These discussions are expected to elevate bilateral relations to an...
May 20, 2025

Saudi Cabinet reaffirms expanding investment and trade ties with US, earmarking over $600 billion

Oil is no longer our budget engine, says Saudi minister
Saudi Gazette reportDOHA — Minister of Economy Faisal Al -Ibrahim has said the Saudi economy has always been ready for various oil price scenarios.Speaking at the Qatar Economic Forum in the Qatari capital Doha. Al -Ibrahim added, "The oil is no longer what drives our budgets, but our priorities are the engine."The results of the quick estimates projected by the General Authority for Statistics (GASTAT) in Saudi Arabia for the first quarter of 2025 showed the real GDP growth by 2.7%, compared to the first quarter of 2024.It also stated that this growth was due to the increase in non-oil activities by 4.2%, and government activities achieved a growth of 3.2%, while oil activities witnessed a decrease of 1.4% on an annual basis.The local product achieved a growth of 0.9% in the...
May 20, 2025

Oil is no longer our budget engine, says Saudi minister

New Jazan emir, and deputy emirs of Jazan and Qassim take oath before King Salman
Saudi Gazette report JEDDAH — The newly appointed emir of Jazan and deputy emirs of Jazan and Qassim took their oath of office before Custodian of the Two Holy Mosques King Salman at Al-Salam Palace in Jeddah on Tuesday.Emir of Jazan Prince Mohammed bin Abdulaziz; Deputy Emir of Jazan Prince Nasser bin Mohammed; and Deputy Emir of Qassim Prince Fahd bin Saad took their oath saying: "I swear by God Almighty to be loyal to my religion, then to my King and my country, and not to divulge any of the state's secrets, as well as to safeguard its interests and regulations, and to perform my duties with honesty, trustworthiness, sincerity, and justice."The oath-taking ceremony was attended by Minister of Interior Prince Abdulaziz bin Saud bin Naif, and Deputy Private Secretary to...
May 20, 2025

New Jazan emir, and deputy emirs of Jazan and Qassim take oath before King Salman

Hussein Al-Qahtani, spokesman of NMC, said that Jeddah recorded the highest temperature in the Kingdom on Tuesday, reaching 47 degrees Celsius in the shade.
NMC: Summer season to begin in Saudi Arabia on June 1
Saudi Gazette report JEDDAH — The National Center of Meteorology (NMC) stated that Saudi Arabia is now 12 days away from the meteorological start of summer on June 1. This day will mark the beginning of a gradual rise in temperatures across various regions.Hussein Al-Qahtani, spokesman of NMC, said that Jeddah recorded the highest temperature in the Kingdom on Tuesday, reaching 47 degrees Celsius in the shade. This is an early indication of the intensification of summer weather, reflecting a significant increase in temperatures, especially in the western regions of Saudi Arabia.NMC is geared up to mobilize all its modern capabilities and equipment to carry out its work during summer. The center relies on the latest technologies and modern meteorological programs represented by...
May 20, 2025

NMC: Summer season to begin in Saudi Arabia on June 1

UNDP Administrator Achim Steiner and KSrelief General Supervisor Dr. Abdullah Al-Rabeeah sign the agreement on the sidelines of the European Humanitarian Forum 2025 in Brussels on Monday.
KSrelief and UNDP sign $5 million agreement to rehabilitate damaged bakeries in Syria
Saudi Gazette report BRUSSELS — The King Salman Humanitarian Aid and Relief Centre (KSrelief) signed on Monday a $5 million joint project agreement with the United Nations Development Program (UNDP) to enhance food security, fostering economic recovery, and strengthening resilience of local communities in Syria by rehabilitating 33 bread production units in eight of Syria's 14 governorates.UNDP Administrator Achim Steiner and KSrelief General Supervisor Dr. Abdullah Al-Rabeeah signed the agreement on the sidelines of the European Humanitarian Forum 2025 in Brussels. The rehabilitation project includes basic restoration work, installation of new production lines, maintenance of existing ones, and the rehabilitation of two mobile bread production units.At present, over 12.4 million...
May 20, 2025

KSrelief and UNDP sign $5 million agreement to rehabilitate damaged bakeries in Syria

20 people penalized for transporting unauthorized pilgrims to Makkah
Saudi Gazette report RIYADH — The Ministry of Interior announced that it has penalized 12 expatriates and eight Saudi citizens for violating Hajj regulations. The Hajj Security Forces stationed at the entry points to Makkah arrested these people while transporting 60 individuals without permits to perform Hajj.The ministry issued administrative decisions against the transporters, accomplices, and those who were provided with transportation, and these include imposition of penalties such as imprisonment, maximum fines of SR100,000, confiscation of vehicles used in the illegal transport of individuals, deportation of residents, and a 10-year ban on re-entry into Saudi Arabia upon completion of their sentences.The ministry urged all citizens and residents to comply with Hajj regulations and...
May 20, 2025

20 people penalized for transporting unauthorized pilgrims to Makkah

Museums Commission and Philharmonie de Paris sign agreement to boost cooperation
Saudi Gazette reportRIYADH — The Saudi Museums Commission, in partnership with the Philharmonie de Paris in France, signed an executive program for cooperation in the fields of museums and music. This comes as part of strengthening cultural relations between the two countries and developing joint projects that reflect Saudi Arabia's ambitions in the cultural sector.The executive program, signed by Ibrahim Al-Sanousi, Acting CEO of the Museums Commission, and Olivier Mantet, CEO of the Paris Philharmonic, covers several areas of cooperation, most notably: the exchange of loans of historical musical pieces and instruments, the organization of traveling art programs and exhibitions, and the holding of events and workshops at the Tariq Abdul Hakeem Museum located in the historic Jeddah...
May 20, 2025

Museums Commission and Philharmonie de Paris sign agreement to boost cooperation

Minister of Hajj and Umrah Inspects the readiness of Holy Sites to welcome pilgrims
Saudi Gazette reportMAKKAH — Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah inspected a number of sites in the Holy Sites. This comes in line with the Saudi leadership's directives to ensure all preparations for receiving pilgrims for this year's Hajj season 2025. The minister also reviewed the readiness of facilities, infrastructure, and services provided to pilgrims, ensuring their comfort and safety.Al-Rabiah inspected the readiness of the Kadana Al Wadi Towers, which represent a comprehensive transformation in the way pilgrims stay in Mina.He inspected a number of new projects implemented by Kadana Development Company to improve and develop the environment of the holy sites.The projects scheduled to be launched this year include advanced service facilities aimed at enhancing...
May 20, 2025

Minister of Hajj and Umrah Inspects the readiness of Holy Sites to welcome pilgrims

Minister of Industry and Mineral Resources Bandar Alkhorayef and Malaysian Minister of Investment, Trade, and Industry Tengku Datuk hold talks in Riyadh on Monday.
Saudi, Malaysian industry ministers explore avenues for promoting joint investments
Saudi Gazette report RIYADH — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Malaysian Minister of Investment, Trade, and Industry Tengku Datuk in Riyadh on Monday. Their discussions focused on ways to strengthen bilateral economic relations and develop cooperation in the industrial sector.During the meeting, the ministers explored opportunities to promote joint investments between the two countries. They discussed the enablers and incentives available to facilitate the investor journey, and the high-value investment opportunities offered in the Kingdom.Their talks also covered the goals of Saudi Vision 2030 aimed at diversifying the national economy, as well as an overview of the National Industrial Strategy and its role in boosting the Kingdom’s manufacturing...
May 20, 2025

Saudi, Malaysian industry ministers explore avenues for promoting joint investments

According to the Capital Market Authority report, the total value of listed sukuk and debt instruments in the Saudi capital market reached SR 663.5 billion by the end of 2024, compared to SR 549.8 billion at the end of 2023.
Saudi asset management industry grows 20% to over SR1 trillion in 4Q 2024
Saudi Gazette report RIYADH — The value of assets under management (AUM) in the Saudi capital market exceeded SR1 trillion for the first time by the end of 2024, recording a growth rate of 20.9 percent compared to the previous year, according to the 2024 Annual Report published by the Capital Market Authority (CMA).The number of investment funds rose to 1,549, while the number of subscribers in public and private funds exceeded 1.72 million, an increase of 47 percent during the year 2024, compared to 2023. This reflects the sustained momentum in the growth and development of the Saudi capital market.The report highlighted exceptional achievements and record-breaking figures across various regulatory, legislative, and developmental areas, reinforcing the Kingdom's position as an...
May 20, 2025

Saudi asset management industry grows 20% to over SR1 trillion in 4Q 2024

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