Author: Editorial Team

ST. PETERSBURG — Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Al-Khorayef met with a number of investment officials in St. Petersburg, Russia, to discuss opportunities for cooperation across priority sectors. This was part of the Ministry of Industry and Mineral Resources’ efforts to strengthen international partnerships, facilitate the transfer of advanced knowledge and expertise, and attract high-quality investments to the Kingdom in support of the objectives of Vision 2030 and the enhancement of its position as a global industrial and mining hub. Alkhorayef arrived here to attend the 29th St. Petersburg International Economic Forum 2026, which concluded on…

The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on June 7, 2026, to review global market conditions and outlook. In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188,000 barrels per day from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in July 2026 as detailed in the table below. The additional voluntary adjustments announced in April 2023 may be returned in part or in full…

On the occasion of World Food Safety Day, Nestlé Saudi Arabia collaborated with the Saudi Authority for Industrial Cities and Technology Zones (MODON) on an awareness initiative hosted at the company’s factory in Jeddah’s Third Industrial City. The initiative aimed to promote food safety concepts and raise awareness of safe and responsible manufacturing practices among employees working in factories and production facilities. The initiative brought together more than 80 participants, including 25 representatives from food manufacturing facilities, reflecting the importance of knowledge-sharing and the exchange of expertise across the sector. It also underscored the value of public-private sector collaboration in…

RIYADH — Saudi Arabia imported approximately 1.9 million vehicles over the last two years, with China emerging as one of the leading suppliers to the Saudi automotive market. These developments coincide with the country’s ongoing efforts to enhance the value of its local supply chain and reduce dependence on vehicle imports, according to Al-Arabiya.net report. The Saudi Zakat, Tax and Customs Authority (ZATCA) data showed that vehicle imports to Saudi Arabia reached around 959,403 units by 2025, further expanding the Kingdom’s already substantial automotive market, which ranks among the largest globally. The data also revealed that vehicle imports to Saudi…

The Literature, Publishing, and Translation Commission concluded the Kingdom of Saudi Arabia’s participation as guest of honor at the 2026 Kuala Lumpur International Book Fair, held from May 29 to June 7 at the World Trade Centre in Kuala Lumpur, amid broad cultural and media engagement and strong visitor turnout, particularly among those interested in cultural and knowledge affairs. Through its pavilion, led by the commission, Saudi Arabia presented an integrated cultural showcase combining literature, arts, heritage, and knowledge. The diverse program included literary and cultural seminars, alongside artistic and performance displays, traditional crafts, heritage fashion, rare manuscripts, and replica artifacts.…

LONDON — Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, founder and CEO of KBW Ventures, and President of the Saudi Sports for All Federation, outlined his vision for the future of cities, technology and public health during a fireside chat at SXSW London 2026. Speaking during a session titled “A Future Worth Building,” Prince Khaled discussed how urban development, artificial intelligence and long-term investment are reshaping communities around the world. He highlighted Arada’s rapid growth since its launch in 2017, noting that the developer now has an existing and planned portfolio of more than…

NAJRAN — Najran police arrested 12 expatriates on charges of engaging in prostitution in a residential apartment in the city. The arrests were made in a security operation held in coordination with the General Directorate for Communal Security and Combating Human Trafficking. The Public Security said in a statement on Sunday that legal procedures were completed against the suspects and they were referred to the Public Prosecution for further action. Source: Saudi Gazette

In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, the participating countries decided to: Reaffirm the Framework of the Declaration of Cooperation, signed on December 10, 2016 and further endorsed in subsequent meetings. Reaffirm the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC as agreed in the 38th OPEC and non-OPEC Ministerial Meeting until December 31, 2026. Reaffirm the mandate of the Joint Ministerial Monitoring Committee (JMMC) to closely review global oil market conditions, oil production levels, and…

WASHINGTON — US President Donald Trump said the United States will ensure the destruction of Iran’s enriched uranium stockpile regardless of whether a diplomatic agreement is reached with Tehran. In an interview with NBC News aired Sunday, Trump said Washington would either remove and destroy the material as part of an agreement or take military action if negotiations fail. “We’ll take it out and destroy it, whether it’s on-site or whether we take it off-site,” Trump said. He added that the United States would act “with them, or without them.” Trump warned that if no agreement is reached, the US…

PIF and Talaat Moustafa Group Saudi for Real Estate Development (TMG), today announced the signing of a Memorandum of Understanding (MoU), to explore opportunities, cooperate and collaborate in mixed-use real estate projects at developments owned by PIF and its projects across Saudi Arabia. By leveraging PIF’s extensive investment capabilities, scale, and ecosystem, alongside TMG’s track record in delivering integrated mixed used developments, the parties aim to unlock opportunities across the residential, commercial, hospitality, and retail sectors, as well as integrated urban environments. The MoU would further accelerate project delivery and value creation for PIF and its projects. TMG brings extensive…