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The Saudi Arabian stock market escalated to a 32-month high as Tadawul All-Shares Index (TASI) closed trading at 8,050.30 points on Monday. TASI rose to more than the psychologically important 8,000-point mark for the first time since August 2015 and analysts credited this surge to the confidence investors gained from higher oil prices and easing […]

Saudi Arabia is on the run to achieve its dream economic transformation plan, Vision 2030, and is undertaking several reforms to diversify its economy and one major focus is on the tourism and entertainment sector. A panel of experts who are set to meet at the Euromoney Saudi Arabia Conference on 2-3 May 2018 noted […]

As part of Crown Prince Muhammed bin Salman’s Paris visit, 20 economic pacts worth $18 billion were signed between Saudi Arabia and France, reported Al Arabiya TV. MoUs were inked between Saudi And French companies in several sectors including energy, petrochemicals, trade, aviation, water treatment, tourism, health, agricultural and cultural activities. State-owned oil giant Saudi […]

Saudi Arabia will open its first cinema in over three decades on April 18 in Riyadh, after the ban on cinema was lifted last year as part of the Kingdom’s liberalization drive. Last year, Saudi Arabia’s Public Investment Fund (PIF) partnered with US movie exhibition company AMC Entertainment Holdings to explore and invest in cinema […]

Saudi Arabia’s Public Investment Fund (PIF) signed an agreement with globally renowned amusement park company, Six Flags, to design and develop a Six Flags-branded amusement park in Riyadh amid wide-ranging social reforms in the Kingdom. Six Flags will design, develop and license the Six Flags brand for Qiddiya, the Kingdom’s first entertainment, sports and cultural […]

The Ministry of Labor and Social Development (MLSD) confirmed that around 83 percent of jobs in shops selling women’s accessories and dress have been feminized and nationalized. The Ministry’s official spokesman Khalid Aba Al-Khail informed that field inspectors have been organizing inspection tours in malls, commercial centers, and shops across the country to evaluate the […]

The Saudi Commission for Tourism and National Heritage (SCTH) announced in a statement that the regulations for tourist visas have been completed in cooperation with the ministries of interior and foreign affairs and submitted to higher government authorities for further approval, the Center of International Communication (CIC) quoted. The new regulations were formulated and reviewed […]

Much to the relief of the Kingdom’s construction industry which is struggling from an economic slowdown, Saudi Arabia has announced that it would provide compensation to contractors to meet the unexpected hike in expat fee for employees working in government sector projects approved before December 2016. The Saudi Press Agency (SPA) reported in a statement […]

The second annual Saudi-US CEO Forum, which brought together more than 200 eminent business leaders from the Kingdom and the US for a day of formal presentations, panel discussions, and trade and cultural shows, concluded successfully and resulted in the signing of 36 MoUs worth more than $20 billion. The annual forum brings forth discussions […]

The US State Department has approved a possible arms sale worth more than $1 billion to Saudi Arabia. The announcement came days after Saudi Arabia’s Crown Prince Muhammed bin Salman met US President Donald Trump at the White House, where Trump credited US defense sales to the Saudis. The department added that it had notified […]