IsDB leads multilateral development banks group in $300-$400bn lending boost target RIYADH: A group of elite financial institutions, led by the Islamic Development Bank, is aiming to increase its lending margin by $300-$400 billion over the next decade to reduce global inequalities. The announcement came after presidents of ten multilateral development banks met in Washington, D.C., to … Read more
RIYADH: Saudi Arabia’s automotive sector localization is fast on track as part of the government’s efforts to achieve its Vision 2030 targets, according to a senior official. At the Saudi-American Business Council seminar, Aftab Ahmed, a senior adviser to the Kingdom’s National Center for Industrial Development in the automotive sector, underscored the rapid transition toward … Read more
Spanish investments in Saudi Arabia exceed $3bn, boosting bilateral relations and vital sectors RIYADH: Spanish investments in Saudi Arabia have surpassed $3 billion in the last 10 years, with bilateral relations contributing to the development of vital sectors, according to a top official. The Kingdom’s Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail, witnessed … Read more
TOKYO/SINGAPORE: Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in US commercial stockpiles outweighed supply fears from heightened tensions in the Middle East, according to Reuters. Brent futures for June fell 40 cents, or 0.44 percent, to $89.62 a barrel by … Read more
PARIS: Future Ukrainian fighter pilots likely to fly American F-16 aircraft are receiving their initial training in the south of France with the French Air Force, the French defense minister said on Friday, amid a European training push. The pilots are receiving “general training on the Alpha Jet (a Franco-German military aircraft), which enables Ukrainian … Read more
RIYADH: The Green Team of the Medical Students’ Association at Alfaisal University recently organized a desert clean-up, clearing the popular Khararah Lake site in Riyadh. The aim of the exercise was to eliminate plastic waste, reduce land pollution and eventually improve the overall environment in the area. The Green Team is a student-led committee created to … Read more
RIYADH: Japan’s Mitsubishi Power is committed to supporting Saudi Arabia’s growing demand for energy to help it achieve the prosperity outlined in Vision 2030, according to a top official. Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia, shared profound insights into the company’s transformative journey in an interview with Arab News, offering a comprehensive overview … Read more
The Sports Boulevard has launched the ‘Walking Track’ initiative at Al-Nakheel Mall in Riyadh, encouraging residents and visitors of the Saudi capital to engage in physical exercise. The length of the walking track inside the mall is 506 meters, equivalent to approximately 750 steps.
Kerten Hospitality, in partnership with developers RIKAZ and RAFAL and with the support of the Ministry of Tourism, unveiled a ground-breaking project in the heart of Riyadh — The House Urban Eco Resort. This unique resort is set to redefine urban eco-living, blending leisure, wellness, and business within a sustainable and luxurious environment. Kerten Hospitality … Read more
Wallan Trading Company, a leading player in the Saudi automotive sector, has signed a strategic agreement with Lotus: a global luxury electric vehicle maker. As part of the agreement, Wallan Trading Company will serve as the official distributor of Lotus in the Kingdom, providing Saudi consumers seamless access to the brand’s diverse range of luxury … Read more