Saudi Arabia’s sovereign wealth fund has reported strong financial results for 2023, achieving revenues of SR331 billion ($88.3 billion) from its diverse investment portfolio, marking over 100% percent growth from 2022. Demonstrating robust returns and significant progress toward its long-term objectives, the Public Investment Fund has released its consolidated financial statements for the year ending…
Saudi energy giant ACWA Power Co. has signed financing deals worth SR1.4 billion ($373.1 million) for Tashkent’s Riverside power plant in Uzbekistan, according to a statement on Tadawul. The facility aims to generate 200 megawatts of solar photovoltaic energy and store 500 MW per hour using batteries, with a total cost of SR2 billion. The financing agreements were signed by ACWA Power…
Saudi Arabia’s energy minister announced the discovery of seven oil and gas deposits in the Kingdom’s Eastern Province and Empty Quarter, Saudi Press Agency reported on Monday. Prince Abdulaziz bin Salman said Saudi Aramco had discovered “two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs,”…
Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman sent cables of condolences to the king of Mohammed VI of the Kingdom of Morocco on the death of his mother, the Saudi Press Agency reported on Sunday. In a cable to King Mohammed VI of Morocco, King Salman expressed deepest and sincere condolences on…
Muscat: Embassy of India, Muscat organized a successful India-Oman Business-to-Business (B2B) Meet on 26 June 2024. The event witnessed the participation of 23 visiting Indian companies from the Agriculture, Processed Food, Spices, Engineering, and Construction sectors, led by the Chairperson of IGTD Exim Chamber of Commerce, along with 40 Omani companies. This meeting facilitated direct interactions…
KUWAIT: Top security officials from the interior ministry held a meeting on Wednesday to coordinate major security and search campaigns against residency violators who have failed to avail a three-month amnesty for illegals which comes to an end on June 30, the interior ministry said. The meeting was chaired by assistant undersecretary for special forces affairs…
Saudi Arabia’s King Salman on Tuesday sent a message to Qatar’s emir, Sheikh Tamim bin Hamad Al-Thani, congratulating him on the 11th anniversary of his accession. “The king expressed his sincere congratulations and best wishes for health and happiness to (the emir), and to the government and people of Qatar for continued progress and prosperity,”…
Nearly 1.5 million religious services were offered to pilgrims during this year’s Hajj season, the Saudi Press Agency reported.The Ministry of Islamic Affairs, Dawah, and Guidance said that approximately 1,485,000 services had been offered from the day before Arafat, which was on June 15, until the end of Hajj.Saudi authorities said that 1.8 million pilgrims…
Several private farms in Baha have been renovated and revamped by their owners to reflect agricultural tradition and cultural identity, helping to attract tourists to the area. Among these, Al-Mandaq Governorate’s farms and rural cottages stand out, according to a report by the Saudi Press Agency. These farms, which are located throughout the region, have…
Border guards in the Asir region of Saudi Arabia thwarted an attempt to smuggle 73 kilograms of hashish, with an estimated street value of $1.8 million, into the Kingdom. The drugs were seized by authorities and preliminary legal proceedings have been completed, the Saudi Press Agency reported on Monday. It follows an announcement on Friday…
