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RIYADH, April 16 — Saudi Arabia has extended the term of an existing $5 billion deposit at the State Bank of Pakistan and announced an additional $3 billion deposit in support of Pakistan’s economy. The move comes under directives from King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, SPA reported. Saudi Arabia said the assistance is intended to support Pakistan’s economic stability and strengthen resilience amid global economic cha

SPA RIYADH, April 16 — Saudi Arabia’s Public Investment Fund has approved its 2026-2030 strategy, setting out plans to focus on domestic sector development, long-term returns and continued support for the kingdom’s economic transformation. The strategy, approved by PIF’s board chaired by Crown Prince Mohammed bin Salman, marks a shift from a period of rapid growth to a phase focused on sustained value creation, investment efficiency and governance standards. Under the new pla

📷| SPA RIYADH, April 16 — Almarai signed two agreements aimed at helping localize Saudi Arabia’s fish and seafood processing sector, supporting domestic investment and economic diversification under Vision 2030. The agreements were signed with the Ministry of Investment and the Shareek Program Center. Minister of Environment, Water and Agriculture Abdulrahman Alfadley and Minister of Investment Fahad Al-Saif witnessed the signing ceremony, which was also attended by Almarai

SPA RIYADH, April 15 - Saudi Arabia's Future Investment Initiative Institute said on Wednesday it would hold its Priority Europe Summit in Rome from June 17 to 19, bringing together global leaders to examine how capital can support Europe's competitiveness, resilience and strategic autonomy in a rapidly changing world. Held under the theme "Reimagining Europe: Capital, Sovereignty, and Strategic Independence," the summit will bring together policymakers, investors, innovators

SPA RIYADH/ISLAMABAD, April 15 - Saudi Arabia will deposit $3 billion into Pakistan's central bank, Pakistani Finance Minister Muhammad Aurangzeb said on Wednesday, providing a significant financial boost as the country's economy faces strain from regional tensions linked to the conflict between the United States and Iran. Aurangzeb, who is in Washington for meetings of the World Bank and the International Monetary Fund, said the support would strengthen Pakistan's financial

SPA RIYADH, April 14 - Prince Rakan bin Salman bin Abdulaziz, governor of Diriyah, visited Diriyah Company on Tuesday to review its projects and inspect progress at construction sites across the historic Saudi city, the Saudi Press Agency reported. He was received by Saad Al Kroud, head of local real estate investments at the Public Investment Fund and board member and secretary-general of Diriyah Company, along with Diriyah Company Group CEO Jerry Inzerillo and other executi

People shop ahead of the holy month of Ramadan at the Mall of the Emirates in Dubai, United Arab Emirates, March 22, 2023. REUTERS RIYADH/DUBAI, April 13 - Sales at Europe's biggest luxury brands have fallen sharply in Dubai and Abu Dhabi as the Iran conflict disrupted what had been one of the industry's fastest-growing markets, in the latest setback for the $400 billion global luxury sector. Sales at the Mall of the Emirates in Dubai fell 30% to 50% in March from a year earl

RIYADH, April 13 - The Royal Commission for Riyadh City will participate as a strategic partner in the Sports Investment Forum 2026, due to be held in the Saudi capital from April 20 to 22, with broad participation from sports industry leaders, investors and chief executives from around the world. The partnership reflects the commission's role in supporting the sports sector as a promising investment pillar in Riyadh and reinforces the city's growing profile as a regional hub

SPA RIYADH, April 10, 2026 (Saudi Arabia Breaking News) - The Sustainable Agricultural Rural Development Program (Saudi Reef) has helped turn a Taif rose farm into a model destination for rural tourism and high-value rose products, contributing to regional trade and supporting Saudi Vision 2030. The farm owner said the program’s guidance was instrumental in expanding production and developing expertise in the extraction of natural oils. Benefiting from Taif’s moderate clima

RIYADH - Saudi Arabia has confirmed attacks on its oil and gas facilities, including the key East-West Pipeline, the state-run Saudi Press Agency reported on Thursday, citing an unnamed official at the Ministry of Energy. The report did not say when the attacks took place, but said one Saudi national was killed and seven others were wounded. SPA said the recent attacks on the kingdom’s energy infrastructure had significantly affected both oil production and transport, disrupt

SPA ALULA, April 9 (Saudi Arabia Breaking News) - AlUla posted the biggest improvement in the IMD Smart City Index 2026, climbing to 85th place from 112th a year earlier in a gain that put it among the most improved cities in this year's ranking. The rise reflects AlUla's push to upgrade infrastructure, public services and quality of life as authorities pursue broader development plans for the governorate while preserving its natural and cultural character. The Royal Commissi

SPA RIYADH, April 9 (Saudi Arabia Breaking News) - Domestic tourism in Saudi Arabia rose sharply in the first quarter of 2026, with the number of local tourists reaching about 28.9 million, up 16% from a year earlier, according to preliminary data from the Ministry of Tourism. Domestic tourism spending reached SAR34.7 billion during the period, an increase of 8%, while the total number of domestic and international tourists climbed to around 37.2 million, with combined spendi

SPA RIYADH, April 5, 2026 (Saudi Arabia Breaking News) – Taif’s rose farms are seeing stronger production this harvest season, helped by favorable weather conditions that have improved crop quality and increased output, according to farmers and tourism operatos. Taif Governorate has more than 910 rose farms and about 1.14mn rose shrubs, producing around 550 mn roses a year during a harvest season that lasts about 45 days. The farms are concentrated in the highland areas of Al

. PMI data show first contraction since 2020 as weaker orders, falling exports and logistics disruption expose the cost of regional instability. PARIS, April 5 (SaudiArabia Breaking News) - Saudi Arabia’s non-oil private sector contracted in March for the first time since August 2020, as conflict in the Middle East weighed on demand, disrupted exports and intensified supply-chain pressures, according to a closely watched business survey released on Sunday. The seasonally adju

RIYADH, March 31, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s unemployment rate for the total working-age population stood at 3.5% in the fourth quarter of 2025, unchanged from a year earlier and up 0.1 percentage point from the previous quarter, according to the General Authority for Statistics. Separate data for Saudi nationals showed the unemployment rate among Saudi males and females at 7.2% during the quarter, as labor market indicators pointed to continued shifts

RIYADH, March 31, 2026 (Saudi Arabia Breaking News) – Saudi Arabia recorded SAR66.1 billion ($17.6 billion) in service exports in the fourth quarter of 2025, while service imports reached SAR119.6 billion, according to the General Authority for Statistics, with travel and transport remaining the main drivers of cross-border services activity. Travel services accounted for the largest share of Saudi service exports during the quarter at SAR39.5 billion, underscoring the sector

SPA MADINAH, March 31, 2026 (Saudi Arabia Breaking News) – The Nusuk app has surpassed 51 million users worldwide, Minister of Hajj and Umrah Tawfig Al-Rabiah said at the opening of the third Umrah and Ziyarah Forum in Madinah. The forum is being held over three days with broad local and international participation, bringing together stakeholders involved in services linked to Umrah and religious visitation. Developed by the Ministry of Hajj and Umrah, Nusuk offers more than

SPA RIYADH, March 28, 2026 (Saudi Arabia Breaking News) – The Future Investment Initiative Institute concluded FII PRIORITY Miami 2026 with discussions focused on how disruption is reshaping the global economic outlook in real time and how capital is adapting in response. Across plenary sessions, speakers addressed geopolitical instability, energy volatility, supply chain fragmentation and the transformative impact of artificial intelligence on markets, investment strategy an

SPA JEDDAH, March 27, 2026 (Saudi Arabia Breaking News) – The Saudi and Ukrainian defence ministries signed a memorandum of arrangements linked to defence procurement in Jeddah on Friday. The agreement was signed on behalf of Saudi Arabia’s Ministry of Defense by Assistant Minister of Defense for Executive Affairs Khalid bin Hussein Al-Biyari. On the Ukrainian side, the memorandum was signed by Chief of the General Staff of the Armed Forces of Ukraine Andriy Hnatov.