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Moody's assigns stable outlook rating to Saudi Re
June 18, 2018

Moody's Investors Service has assigned an A3 insurance financial strength rating (IFSR) to Saudi Re For Cooperative Reinsurance Company (Saudi Re). The outlook for Saudi Re is stable.

Based in Saudi Arabia, Saudi Re writes reinsurance across the regions of Middle East, Africa, Asia and has affiliation in the Lloyd's market.

The A3 IFSR of Saudi Re reflects its:

(i) strong brand and market position in Saudi Arabia as the"...

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Care sale 10% increase with woman driving countdown begins and dealerships import more than 230,000 new cars in five months
June 18, 2018

As we are eight days close to the woman driving decision's entry into force, a number of workers in the automotive sector asserted that the decision would contribute to increasing the sector's sales by 10%, and the hybrid and electric cars' access into the local market after completing the construction of the electric charging stations. They said that 75% of the Kingdom's cars go to the most expensive ones while importation of cheaper cars takes 25%,"...

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Row of Sh33b Saudi Arabia royal family project in Kenya escalates as DPP drops fraud charges
June 18, 2018

A multi-billion shilling food security investment by a member of the Saudi Arabia royal family at the Kenyan coast has stalled due to fraud claims and wrangles. A decision by the Director of Public Prosecutions to drop criminal charges facing two individuals accused of attempting to defraud the Saudi prince in the Sh33 billion agro-firm project has added a new twist.

The DPP’s office"...

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Saudi Royal Air Forces detect a Ballistic Missile Launched by the Houthi Militias Towards Jazan city
June 18, 2018

The Official Spokesman of the Coalition 'Coalition to Restore Legitimacy in Yemen' Col. Turki Al Malki stated that at (13:39) today, Saudi Royal Air Defense Forces monitored the launch of a ballistic missile launched by the Iran-backed Houthi Militias from inside Yemeni territories (Saada Province) towards the Kingdom's territories.

‏Col. Turki Al Malki explained that the missile"...

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Saudi Arabia to Aid Unemployed Citizens With a $4.2 Billion Free Pass
June 18, 2018

Saudi Arabia has always been known for its economic prosperity and its relatively high standard of living.

Over the past seven months, Saudi Arabia has paid $4.2 billion to its citizens as part of the government’s Citizen Account Programme to support nationals against rising prices and newly-imposed taxes.

The"...

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Iran Says Three OPEC Members to Veto Saudi-Proposed Supply Boost
June 18, 2018

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.

“Three OPEC founders are going to stop it,” Iran’s representative to the bloc Hossein Kazempour Ardebili said in comments to Bloomberg on Sunday. “If the Kingdom of Saudi Arabia and"...

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Saudi crown prince, Putin boost energy cooperation in Moscow meeting
June 18, 2018

On June 14, the meeting of Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin as well as the talks between their energy ministers, Khalid al-Falih and Alexander Novak, brought important results. On the one hand, Moscow and Riyadh seemed to finalize their joint position regarding the future of the Vienna agreement, in which OPEC countries agreed to reduce their production of oil."...

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Saudi Souq Okaz festival set to become major tourist attraction
June 18, 2018

Saudi Arabia is all set to organize yet another mega cultural event, Souq Okaz, which has all the potential of becoming a major tourist attraction.

The 12th edition of the festival will begin in Taif on June 27 and continue until July 13 under the patronage of King Salman.

It is organized by the Saudi Commission for"...

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Date factories in Saudi Arabia inspected for pesticide residues
June 18, 2018

The Saudi Food and Drug Authority (SFDA) analyzed 165 samples from 42 date producers in 17 cities and provinces during the first half of 2018.
The results showed that 89.1 percent of the samples had permissible levels of pesticide residues, while 10.9 percent exceeded those levels. Some of the samples contained pesticides prohibited by the Water and Agriculture Ministry. The inspection visits are part of the SFDA’s efforts to reduce the level of pesticide"...

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Saudi Cultural Exhibition concludes in Moscow
June 18, 2018

The Saudi Cultural Exhibition in Moscow, organized by the General Culture Authority on the sidelines of the FIFA World Cup, has concluded its activities and events.
The four-day exhibition attracted a large number of visitors, who were informed about Saudi culture, art and heritage through short films, traditional costumes, folkloric shows, and books translated into Russian.
There were also various pavilions, including for Arabic calligraphy, Saudi hospitality,"...

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