No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Saudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for…
‘Biggest barrier’ to Saudi-Israeli normalization is the two-state solution, says ex-CIA director
A two-state solution to the Israel-Palestinian conflict is “elusive” right now, according to former CIA director David Petraeus, adding that…
BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from…
Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the…
Saudi oil giant Aramco posts 25% fall in full-year profit
Saudi Arabia’s state oil giant Aramco reported a 25% decline in profit to $121.3 billion in 2023, down from $161.1…
Saudi Arabia’s first alcohol store is a big step, but also aims to tackle a longstanding problem: Booze smuggling
Saudi Arabia’s first alcohol store has opened in the diplomatic quarter of its capital Riyadh, accessible to non-Muslim diplomats. While…
Saudi Arabia opens its first-ever alcohol store — but it’s only accessible to a select group
Saudi Arabia has opened its first alcohol store in the diplomatic quarter of its capital Riyadh, two sources told CNBC.…
U.S. says Houthis launched missiles at tanker ship but no damage caused
The Iran-backed Houthi militia launched two anti-ship ballistic missiles at a U.S.-owned tanker ship late on Thursday that hit the water near the vessel but caused no injuries…
Saudi Arabia nearly doubles estimate for the value of its mineral resources
Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during…
