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MBC confirmed that Istedamah Holding Company had sold its entire stake of 179.5 million shares to PIF.
PIF completes $2 billion acquisition of 54% stake in MBC Group
Saudi Gazette reportRIYADH — The Public Investment Fund (PIF) has completed the acquisition of a 54 percent stake in the Kingdom’s leading media company, MBC Group, in a deal valued at SR7.469 billion ($2 billion).MBC announced the transaction on Thursday in a disclosure to the Saudi Exchange, confirming that Istedamah Holding Company had sold its entire stake of 179.5 million shares to PIF.The deal, executed as a negotiated private transaction, was finalized at SR41.60 per share.The acquisition, completed after securing all regulatory approvals, reflects PIF’s ongoing strategy to strengthen Saudi Arabia’s media and entertainment sector.The move aims to foster innovation, build an integrated media production ecosystem, and support long-term growth.According to the statement, the...
September 18, 2025

PIF completes $2 billion acquisition of 54% stake in MBC Group

GCC chiefs of staff hold urgent meeting to reinforce Gulf deterrence capabilities
Saudi Gazette reportDOHA — The Gulf Cooperation Council (GCC) Chiefs of Staff held an emergency meeting in Doha on Wednesday to address growing regional threats and challenges.The session was attended by Assistant Secretary-General for Military Affairs at the GCC General Secretariat, Maj. Gen. Pilot Isa Al-Mahandi, and Commander of the Unified Military Command, Maj. Gen. Abdulaziz Al-Balwi.Discussions focused on bolstering joint defenses and reinforcing the Gulf’s deterrence capabilities amid escalating regional tensions.
September 18, 2025

GCC chiefs of staff hold urgent meeting to reinforce Gulf deterrence capabilities

The session, chaired by Qatari Deputy Prime Minister and Minister of State for Defense Affairs Sheikh Saud bin Abdulrahman Al Thani, was held in implementation of the directives of GCC leaders during their extraordinary summit in Doha earlier this week.
GCC defense ministers order urgent measures after Israeli strike on Qatar
Saudi Gazette report DOHA — The Gulf Cooperation Council (GCC) Joint Defense Council convened an extraordinary session in Doha on Thursday and announced a series of urgent defense measures in response to the recent Israeli strike on Qatar.The ministers directed an immediate expansion of intelligence-sharing through the Unified Military Command, integration of regional air operation centers, acceleration of the GCC’s joint early-warning system for ballistic missiles, and the update of collective defense plans.They also approved joint exercises between air and missile defense centers within three months, to be followed by a live regional air drill.The session, chaired by Qatari Deputy Prime Minister and Minister of State for Defense Affairs Sheikh Saud bin Abdulrahman Al Thani, was held...
September 18, 2025

GCC defense ministers order urgent measures after Israeli strike on Qatar

Saudi landmarks light up with Saudi and Pakistani flags after defense pact signing
RIYADH — Prominent towers and landmarks across Saudi cities were illuminated with the flags of Saudi Arabia and Pakistan to mark the signing of a joint Strategic Defense Agreement between the two nations.The celebration coincided with the state visit of Pakistani Prime Minister Muhammad Shehbaz Sharif to the Kingdom on Wednesday evening.The lighting of key landmarks took place alongside public festivities, underscoring the significance of the agreement.The gesture highlighted the deep-rooted ties between Saudi Arabia and Pakistan, which date back nearly seventy-eight years, reflecting bonds of brotherhood and Islamic solidarity that unite their governments and peoples. — SG
September 18, 2025

Saudi landmarks light up with Saudi and Pakistani flags after defense pact signing

Muslim World League Secretary General Sheikh Mohammed Al-Issa addressing the eighth Congress of Leaders of World and Traditional Religions in Astana on Wednesday.
MWL Chief highlights Gaza genocide at religious leaders’ congress in Kazakhstan
Saudi Gazette report MAKKAH — Muslim World League (MWL) Secretary General and Organization of Muslim Scholars Chairman Sheikh Mohammed Al-Issa emphasized that the ongoing genocide and systematic criminal starvation in the Gaza Strip constitute a shameful stain on the conscience of the international community.He made the remarks while attending as a guest of honor at the eighth Congress of Leaders of World and Traditional Religions, which began in Astana, capital of Kazakhstan on Sept. 17.In his address, Sheikh Al-Issa spoke about the troubling global transformations that have exacerbated tragedies and challenges, undermined the global system, and threatened the coherence of its legitimacy.He emphasized the profound spiritual influence of religious leaders, underscoring the urgent need...
September 18, 2025

MWL Chief highlights Gaza genocide at religious leaders’ congress in Kazakhstan

The Saudi Central Bank (SAMA) has announced its decision to reduce the Repurchase Agreement (Repo) rate by 25 basis points to 4.75 percent, and Reverse Repurchase Agreement (Reverse Repo) rate by 25 basis points to 4.25 percent.
SAMA reduces Repo and Reverse Repo rates by 25 basis points
Saudi Gazette report RIYADH — The Saudi Central Bank (SAMA) has announced its decision to reduce the Repurchase Agreement (Repo) rate by 25 basis points to 4.75 percent, and Reverse Repurchase Agreement (Reverse Repo) rate by 25 basis points to 4.25 percent.This decision aligns with the global developments and in accordance with SAMA’s objective of maintaining monetary stability, the Saudi Press Agency reported.
September 17, 2025

SAMA reduces Repo and Reverse Repo rates by 25 basis points

Tawakkalna App unveils new interface for over 34 million users
Saudi Gazette report RIYADH — The Tawakkalna unified national application launched a brand-new user interface, marking a quality step toward enhancing the experience of more than 34 million users.With an innovative design that integrates the latest technological features, the app delivers an exceptional user experience that keeps pace with the Kingdom's evolving digital transformation and its ambition to lead among data- and AI-driven economies.The new interface blends technology and design in a smooth, user-friendly experience. Menus and service categories have been restructured, and the steps required to access key services have been minimized, saving users time and effort.The update is designed to elevate usability and ensure quick access to daily digital needs, especially as...
September 17, 2025

Tawakkalna App unveils new interface for over 34 million users

Saudi Crown Prince and Prime Minister Mohammed bin Salman with Pakistani Prime Minister Shehbaz Sharif during the signing of joint strategic defense agreement in Riyadh on Wednesday.
Saudi Arabia and Pakistan agree to deter any aggression jointly
Saudi Gazette report RIYADH — Saudi Crown Prince and Prime Minister Mohammed bin Salman and Pakistani Prime Minister Shehbaz Sharif signed on Wednesday a joint strategic defense agreement between Saudi Arabia and Pakistan. The agreement aims to enhance aspects of defense cooperation between the two countries and strengthen joint deterrence against any aggression. It stipulates that any aggression against either country shall be considered an aggression against both, it was announced in a joint statement.The pact was inked following the official talks between the Crown Prince and Pakistani prime minister at Al-Yamamah Palace in Riyadh. This agreement reflects the shared commitment of both nations to enhance their security and to achieve security and peace in the region and the world, the...
September 17, 2025

Saudi Arabia and Pakistan agree to deter any aggression jointly

Saudi Crown Prince and Prime Minister Mohammed bin Salman receives Pakistani Prime Minister Muhammad Shehbaz Sharif in Riyadh on Wednesday.
Saudi Crown Prince, Pakistani PM hold talks in Riyadh
Saudi Gazette report RIYADH — Saudi Crown Prince and Prime Minister Mohammed bin Salman held official talks with Pakistani Prime Minister Muhammad Shehbaz Sharif in Riyadh on Wednesday. Upon arrival at Al-Yamamah Palace, Sharif was accorded an official reception. The Pakistani prime minister and his accompanying delegation arrived in Riyadh on Wednesday afternoon for a state visit. His plane was escorted by F-15 fighter jets from the Royal Saudi Air Force after entering the Kingdom's airspace. As soon as the premier’s plane entered Saudi airspace, “Saudi Air Force jets escorted and protected it”, Pakistan's state-run PTV News reported. “This was a gesture of brotherly love and respect by the Government of Saudi Arabia. This honor in the Muslim world is the result of...
September 17, 2025

Saudi Crown Prince, Pakistani PM hold talks in Riyadh

The Saudi Health Council meeting has approved a mechanism for dealing with cases of violence, abuse, and neglect in public and private healthcare facilities and those involving their staff.
Saudi Health Council adopts new measures to combat violence within healthcare facilities
Saudi Gazette report RIYADH — The Saudi Health Council meeting has approved a mechanism for dealing with cases of violence, abuse, and neglect in public and private healthcare facilities and those involving their staff. The mechanism is aimed to protect those affected by violence and abuse in healthcare facilities and proper handling of such cases. The meeting, chaired by Minister of Health and Chairman of the Council Fahd Al-Jalajel, also approved an update to the medical coding system. Members of the Council representing health sectors and relevant authorities attended the meeting.Addressing the meeting, Al-Jalajel praised the tremendous response of health sectors to the Crown Prince's Blood Donation Campaign and the high-quality services they provided to all members of society....
September 17, 2025

Saudi Health Council adopts new measures to combat violence within healthcare facilities

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