Saudi Arabia has launched a major international initiative to safeguard global shipping lanes, securing the backing of 14 countries for a proposed Maritime Defense Alliance as escalating conflict between the US and Iran raises fresh concerns over the security of two of the world's most important maritime trade corridors — the Strait of Hormuz and the Suez Canal.
The Cityscape brand is expanding to Saudi Arabia’s Western Region with the launch of Cityscape West KSA, sponsored by the Ministry of Municipalities and Housing (MOMAH), creating a dedicated platform for the region.
Saudi food company Al Babtain said it has agreed to sell its entire 3% stake in Jordan-based Chocolate Lake Company to Dubai group Indulgent Food International Holding. The deal is part of Indulgent Food's acquisition of a 70% stake in the confectionery maker from existing shareholders.
Foreign private capital investment in Saudi Arabia's private markets reached SAR20 billion ($5.3 billion) in 2025, representing about 60% of total private capital investment in the Kingdom and marking a significant milestone in the continued expansion of Saudi Arabia's private capital ecosystem.
Saudi Arabia has taken another step towards establishing itself as a global sporting destination after the Saudi Arabian Cricket Federation (SACF) and the Pakistan Cricket Board (PCB) signed a strategic memorandum of understanding (MoU) to develop an international cricket stadium in Jeddah.
US-Saudi consortium Mera Oil has entered the final stage of selecting a host location for its planned $5 billion integrated refinery and energy export corridor. Following three years of evaluation, three GCC sites outside the Strait of Hormuz have been shortlisted.
flynas and Turkish Airlines have signed a codeshare agreement to strengthen air connectivity between Saudi Arabia, Türkiye and destinations across their global networks.
Radisson Hotel Group has strengthened its commitment to developing Saudi hospitality professionals by joining the Ministry of Tourism's newly launched Hospitality Ambassadors Programme, an initiative aimed at equipping Saudi nationals with international operational and leadership experience.
Oil prices climbed sharply on Wednesday as renewed military clashes between the United States, Saudi Arabia and Iran kept traders on edge about supply disruptions, even as Oman unveiled a Gulf-backed proposal aimed at safeguarding shipping through the Strait of Hormuz.
The Middle East moved closer to a broader regional confrontation on Wednesday as Iran launched a failed ballistic missile attack on US forces, while the United States and Saudi Arabia carried out joint airstrikes against Iran-backed militias in Iraq.
