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The international rating agency said Saudi Arabia’s credit rating reflects the robustness of its financial fundamentals.
Fitch affirms Saudi Arabia’s A+ credit rating with stable outlook
Saudi Gazette reportRIYADH — Fitch Ratings has affirmed Saudi Arabia’s long-term foreign currency issuer default rating at A+ with a stable outlook, highlighting the Kingdom’s strong fiscal position and continued reform momentum.In its latest report, the international rating agency said Saudi Arabia’s credit rating reflects the robustness of its financial fundamentals.It noted that key indicators —such as the sovereign net foreign asset position and the debt-to-GDP ratio— are significantly stronger than the averages for countries in the "A" and even "AA" rating categories.Fitch emphasized that the Kingdom holds substantial financial reserves in the form of public sector deposits and other assets, supporting its macroeconomic stability.Looking ahead, the...
July 26, 2025

Fitch affirms Saudi Arabia’s A+ credit rating with stable outlook

The new system grants non-Saudis the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet.
Saudi Arabia publishes new law allowing foreigners to own property
Saudi Gazette reportRIYADH — Saudi Arabia has officially published the full details of its new law regulating real estate ownership by non-Saudis, following Cabinet approval earlier this month.The comprehensive law, released in the official gazette Umm Al-Qura on Friday, will take effect 180 days from publication and marks a major overhaul in the Kingdom’s approach to foreign ownership of property.The new system grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet.These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to a range of controls and restrictions based...
July 25, 2025

Saudi Arabia publishes new law allowing foreigners to own property

Over 424,000 Saudis enroll in AI training as SDAIA scales national transformation
Saudi Gazette reportRIYADH — More than 424,000 Saudi citizens have enrolled in the "SAMAI" initiative — an artificial intelligence (AI) awareness and training program led by the Saudi Data and Artificial Intelligence Authority (SDAIA) — as part of the Kingdom’s ambitious plan to equip 1 million Saudis with foundational AI knowledge.The initiative reflects the nation's broader efforts to build a digitally empowered society aligned with Vision 2030.SDAIA highlighted the growing global impact of data and AI technologies, which it said are driving transformative change across sectors such as education, healthcare, industry, cybersecurity, agriculture, energy, and national security.These technologies are not only enhancing productivity and innovation, but also helping...
July 25, 2025

Over 424,000 Saudis enroll in AI training as SDAIA scales national transformation

Saudi Arabia offers condolences to Russia over fatal plane crash in Amur region
Saudi Gazette reportRIYADH — Saudi Arabia has expressed its condolences to Russian President Vladimir Putin following the tragic crash of a passenger plane in Russia’s Far Eastern Amur region that claimed the lives of more than 40 people.Custodian of the Two Holy Mosques King Salman sent a cable of condolence to President Putin, stating: “We were deeply saddened by the news of the crash of a Russian passenger plane in the Amur region, and the resulting fatalities.”“We share your grief in this tragedy and extend to you, the families of the deceased, and the friendly Russian people our sincerest condolences and sympathy. May you be spared from all harm.”Crown Prince and Prime Minister Mohammed bin Salman also offered his condolences in a separate message, saying: “I was deeply...
July 25, 2025

Saudi Arabia offers condolences to Russia over fatal plane crash in Amur region

Muslim World League chief meets Afghan ministers to discuss Islamic unity and extremism
Saudi Gazette reportKABUL — Sheikh Dr. Mohammed Al-Issa, Secretary-General of the Muslim World League and President of the Association of Muslim Scholars, held high-level meetings with Afghan ministers in Kabul this week, focusing on strengthening Islamic solidarity, confronting extremism, and promoting the true image of Islam.During a meeting at the Presidential Palace with Afghan Foreign Minister Amir Khan Muttaqi, both sides discussed the importance of clarifying the values of Islam based on the Quran and Sunnah, and the impact of these values on individual and communal behavior among Muslims.The discussions highlighted the significance of promoting tolerance, wisdom, and constructive dialogue.The talks also referenced the key messages of the Makkah Declaration and the Document on...
July 25, 2025

Muslim World League chief meets Afghan ministers to discuss Islamic unity and extremism

Saudi Arabia restores over 170 hectares of mangrove forests in major reforestation projects
Saudi Gazette reportRIYADH — The National Center for Vegetation Cover Development and Combating Desertification has completed three large-scale mangrove reforestation projects in Tabuk, the Eastern Province, and Jazan, achieving a success rate of over 90 percent.The initiative coincides with the International Day for the Conservation of the Mangrove Ecosystem and reflects the Kingdom’s growing commitment to ecological sustainability.According to Eng. Sameer Malaika, Director General of Forests at the center, more than 170 hectares of degraded coastal forests have been rehabilitated using native Avicennia marina seedlings.The reforestation was conducted based on scientific criteria, accounting for tidal movements and water currents.In Umluj, Tabuk Region, the center restored nearly 50...
July 25, 2025

Saudi Arabia restores over 170 hectares of mangrove forests in major reforestation projects

25 hospitality facilities shut down in Makkah over licensing and safety violations
Saudi Gazette reportMAKKAH — The Ministry of Tourism has closed 25 hospitality establishments in Makkah during July as part of intensified inspection campaigns to ensure regulatory compliance in the holy city, the ministry announced Thursday.The closures followed the discovery of several violations, including operating without a valid license, poor maintenance and cleanliness standards, and breaches related to guest safety.The inspections are part of the ministry’s ongoing efforts to verify that hospitality facilities meet all approved requirements and hold the necessary permits to operate.The initiative aligns with the ministry’s broader objective to enhance service quality for visitors and pilgrims during the busy Umrah and Hajj seasons.The ministry emphasized the importance of all...
July 25, 2025

25 hospitality facilities shut down in Makkah over licensing and safety violations

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Saudi Arabia sees 144% surge in new mining exploitation licenses in H1 2025
Saudi Gazette reportRIYADH — Saudi Arabia recorded a 144 percent increase in new mining exploitation licenses during the first half of 2025 compared to the same period last year, according to a statement issued Thursday by the Ministry of Industry and Mineral Resources.The ministry said it issued 22 exploitation and small-mine licenses in the six-month period, up from just nine in H1 2024, representing a total investment exceeding SR134 million ($35.7 million).The ministry attributed the significant growth to reforms aimed at improving the investment climate in the mining sector, which is emerging as a central pillar in the Kingdom’s economic diversification plans.Ministry spokesperson Jarrah Aljarrah confirmed that 23 mining companies obtained licenses in the first half of 2025,...
July 25, 2025

Saudi Arabia sees 144% surge in new mining exploitation licenses in H1 2025

Saudi customs foil attempt to smuggle over 69,000 Captagon pills at Riyadh airport
Saudi Gazette reportRIYADH — The Zakat, Tax and Customs Authority (ZATCA) has thwarted two separate attempts to smuggle a total of 69,045 Captagon pills into the Kingdom through King Khalid International Airport in Riyadh.According to ZATCA, the illicit pills—containing the amphetamine-based drug—were found concealed inside the clothing of two passengers arriving on separate flights.The first smuggling attempt involved 34,588 pills, while 34,457 pills were intercepted in the second case using the same concealment method.The authority emphasized its ongoing efforts to strengthen customs control at all Saudi ports, reaffirming its commitment to combating smuggling in line with its core objective of protecting society from harmful substances and illegal trade.ZATCA urged the public to...
July 25, 2025

Saudi customs foil attempt to smuggle over 69,000 Captagon pills at Riyadh airport

Saudi Arabia welcomes France’s move to recognize State of Palestine
Saudi Gazette reportRIYADH — Saudi Arabia has welcomed French President Emmanuel Macron’s announcement of France’s intention to formally recognize the State of Palestine, describing the move as a “historic decision” that reinforces international support for the Palestinian people’s right to self-determination.In a statement issued Thursday, the Saudi Ministry of Foreign Affairs praised France’s position as a reaffirmation of global consensus on the establishment of an independent Palestinian state along the 1967 borders, with East Jerusalem as its capital.The Kingdom said the move aligns with international law and United Nations resolutions, calling for a just and lasting solution to the Palestinian issue.“The Kingdom underscores the importance of continued efforts by...
July 25, 2025

Saudi Arabia welcomes France’s move to recognize State of Palestine

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