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US President Donald Trump backed away on Sunday from his threat to slap 50% tariffs on imports from the European Union next month, agreeing to extend the deadline until July 9 for talks between Washington and the 27-nation bloc to produce a deal. Trump said he made the decision to postpone the levies following a conversation with Ursula von der Leyen, president of the European Commission. “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European…

Saudi Arabia has repaid SAR60 billion ($16 billion) worth of Islamic bonds, or sukuk, maturing over the next five years and simultaneously issued new sukuk of the same value. The initiative aims to bolster the domestic market and meet debt obligations, the National Debt Management Centre (NMDC), which manages the Saudi government’s debt obligations and future maturities, said in a statement. The new sukuk are split into five tranches of SAR21.5 billion, SAR1.8 billion, SAR14.2 billion, SAR5.9 billion and SAR16.9 billion maturing in 2032, 2035, 2036, 2039 and 2040, respectively. HSBC Saudi Arabia, SNB Capital, Al Rajhi Capital, AlJazira Capital…

Egypt’s non-oil trade deficit has narrowed substantially in the first four months of 2025 amid a surge in exports, according to local media. The non-oil trade deficit, the difference between the value of exports and imports, fell 28 percent to $8 billion, Ashraq News, an Arabic news portal, reported citing a government document. Non-oil commodity exports jumped 27 percent year on year between January and April to $17 billion. Imports also rose by 1 percent year on year to $25 billion. Egypt is aiming to attract $60 billion in foreign direct investment and increase its annual exports to $145 billion…

Plan for pathways through Middle East Initiatives have stalled since 2023 ‘You have to give economic value’ to US President Donald Trump may reinvigorate efforts to establish a diplomatic and economic pathway from Europe to India through the Middle East. But trade advisers have told AGBI that, for the initiatives to gain fresh momentum in Washington, officials will need to outline more tangible benefits for the US. “The US is not part of the corridor. It is a US-backed corridor that ends in Europe, so you have to give an economic value to Trump,” says Afaq Hussain, an international trade…

Minister of Communications and Information Technology Abdullah Alswaha conducted a field visit on Sunday to stc Group’s operations center in Makkah to assess the Group’s comprehensive digital, technical, and logistical readiness to serve pilgrims during the 1446 AH Hajj season.The minister was accompanied by Vice Minister and Acting Governor of the Communications, Space and Technology Commission Eng. Haytham Al-Ohali, stc Group CEO Eng. Olayan Mohammed Al-Wetaid, and senior officials.During the visit, stc Group presented its strategic technical plan to ensure optimal service delivery across Makkah, Madinah, and the Holy Sites. The plan includes detailed analysis of network performance at more…

Saudi Arabia’s drive to nationalize its labor force gathered pace in the first quarter of 2025, with more than 143,000 Saudis landing jobs thanks to government-backed employment programs, a 93% jump compared to the same period last year. The figures, announced by the Human Resources Development Fund (Hadaf), underline the growing impact of empowerment initiatives under the Kingdom’s Vision 2030 reform plan. They also reflect a stronger alignment between public and private sector efforts to boost workforce participation. The surge in employment was fuelled by a wide array of support programs offered by the fund, including training, career counselling, and…

Minister of Tourism and Chairman of the Board of the Saudi Tourism Authority Ahmed Al-Khateeb launched the 2025 edition of the “Saudi Summer” program under the theme Color Your Summer at a workshop event organized Saturday by the authority. The event brought together over 120 partners from across the Kingdom’s tourism ecosystem, including representatives from both public and private sectors. The workshop fostered collaboration in preparation for the upcoming summer season, aligning efforts to achieve the program’s goals and maximize its economic and tourism impact. Running from May to September 2025, the Saudi Summer program will feature six distinct destinations…

Type 1 diabetes is a chronic, lifelong condition which impairs the body’s ability to produce insulin, a critical hormone that regulates blood glucose levels. Though it can develop at any age, it is most frequently diagnosed in children, adolescents and young adults, with approximately 500,000 new cases of Type 1 diabetes recorded in 2021 alone.Though there is currently no known cure for the disease, advancements in medical research and technologies have facilitated better disease management.Highlighting the significant progress achieved in this regard, Dr Raed Al-Dahsh, Head and consultant of Endocrine division and Diabetes center, King Abdulaziz Medical City – National…

Saudi Arabia’s Diriyah has been named one of the Global Eco-Friendly Destinations for 2025 by the British travel platform Wanderlust, which annually highlights leading destinations committed to sustainable tourism. The recognition stems from a joint effort between the Saudi Tourism Authority and the Diriyah Gate Development Authority, which submitted a comprehensive nomination highlighting Diriyah’s initiatives in environmental, cultural, and tourism sustainability. Chief Executive Officer and Board Member of the Saudi Tourism Authority Fahd Hamidaddin stated that Diriyah’s selection underscores the Kingdom’s growing commitment to sustainability in tourism. “This recognition is a testament to our strategy of empowering local partners and…

Saudi Arabia’s listed energy companies recorded a combined net profit of SAR 97.76 billion ($26.06 billion) in the first quarter of 2025, marking a 4% decline from the SAR 101.78 billion ($27.14 billion) reported during the same period last year. The dip was primarily driven by a 4.63% drop in profits from industry giant Saudi Aramco. Despite the overall decrease, the sector’s performance was supported by increased sales volumes across gas, refined and petrochemical products, and integrated logistics services. Higher profit margins were also achieved due to relatively stable operations, improved global shipping rates, and lower financing costs. The sector…