Arabia

Pakistan-Saudi Arabia talks on Reko Diq mining project near completion: Petroleum minister D_Trends

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Pakistan-Saudi Arabia talks on Reko Diq mining project near completion: Petroleum minister D_Trends

Pakistan is nearing the conclusion of negotiations with Saudi Arabia on the massive Reko Diq copper-gold mining project, one of the world’s largest untapped resources, according to Petroleum Minister Dr Musadik Malik. In a statement made on Wednesday, Dr Malik revealed that discussions with Saudi Arabia also include potential collaborations on water infrastructure projects, signalling … Read more

Torrential rains trigger urban flooding in Saudi Arabia Dtrends

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Torrential rains trigger urban flooding in Saudi Arabia Dtrends

Flood stricken street in Saudi Arabia. — Reuters/File  Saudi Arabia was struck by thunderstorms and flash flooding on most of its Red Sea on Friday with footages on social media showing roads inundated and cars stranded in floodwater, according to The National. The rains are expected to last until Tuesday prompting the directorate to urge … Read more

Saudi Arabia offers to buy 15% stake in Reko Diq  D_Trends

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Saudi Arabia offers to buy 15% stake in Reko Diq  D_Trends

Saudi Arabia’s Public Investment Fund (PIF) has proposed acquiring the 15% stake in the Reko Diq mining project, alongside a grant for infrastructure development around the mining area through Manara Minerals. According to a news report, the offer includes cash for the shares and a grant to construct essential infrastructure in the region.  In response, … Read more

Saudi Arabia, US negotiating ‘history-making agreement’: envoy Dtrends

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Saudi Arabia, US negotiating ‘history-making agreement’: envoy Dtrends

US President Joe Biden (L) fist bumps Saudi Crown Prince Mohammed bin Salman upon his arrival at Al Salman Palace, in Jeddah, Saudi Arabia on July 15, 2022. — Reuters Saudi Arabia and the United States are negotiating landmark agreements including strategic partnerships, economic ties and military agreements.  “While we came very close and are … Read more

$1.2b loan from Saudi Arabia sought D_Trends

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.2b loan from Saudi Arabia sought D_Trends

ISLAMABAD: Pakistan has requested a $1.2 billion loan from Saudi Arabia to bridge its emergent external financing gap, as it rushes to arrange loans in order to secure the approval of a $7 billion International Monetary Fund (IMF) bailout programme next month. Finance Minister Muhammad Aurangzeb discussed the possibility of securing a $1.2 billion annual … Read more

Pakistan seeks additional $1.5bn loan from Saudi Arabia to secure IMF bailout D_Trends

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Pakistan seeks additional .5bn loan from Saudi Arabia to secure IMF bailout D_Trends

Pakistan has requested Saudi Arabia to increase its lending by approximately $1.5 billion, adding to the existing $5 billion portfolio, to help meet the external financing requirements necessary for the International Monetary Fund’s (IMF) 37-month bailout package. The IMF requires confirmation from Pakistan’s three key bilateral partners—Saudi Arabia, China, and the UAE—regarding their $12 billion … Read more

Saudi Arabia to construct cable car for easier access to ‘Hira’ cave Dtrends

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Saudi Arabia to construct cable car for easier access to ‘Hira’ cave Dtrends

RIYADH: Saudi Arabia plans to launch a cable car system by 2025 to enhance access to the Cave of Hira, a historic and religious site located on Mecca’s Jabal Al Noor, the government announced. The initiative, aimed at improving the pilgrimage experience, will connect visitors to the cave situated approximately 634 meters above sea level, … Read more

Saudi Arabia unveils 15 stadiums for Fifa World Cup 2034 Dtrends

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Saudi Arabia unveils 15 stadiums for Fifa World Cup 2034 Dtrends

An illustration depicting Neom Stadium. — Saudi 20234 bid/Neom/File Saudi Arabia has brought to light 15 stadiums in and around cities of Riyadh, Jeddah, Al Khobar and Abha, where the Fifa world cup games will be held in 2034. Notably, a venue will also be constructed on The Line at Neom, reported Dezeen. Moreover, with … Read more

US to lift ban on offensive weapons sales to Saudi Arabia Dtrends

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US to lift ban on offensive weapons sales to Saudi Arabia Dtrends

US President Joe Biden addresses the nation from the Oval Office of the White House in Washington, on July 24, 2024. — Reuters Congress was briefed about decision to lift ban this week. US lawmakers questioned provision of weapons to S Arabia recently. Biden adopted tougher stance on weapons sales to kingdom in 2021. The Biden … Read more

China, Saudi Arabia and UAE to support Pakistan with debt rollover D_Trends

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China, Saudi Arabia and UAE to support Pakistan with debt rollover D_Trends

ISLAMABAD: Pakistan has obtained assurances from China, Saudi Arabia, and the United Arab Emirates to roll over their debt for another year, providing a significant boost as it awaits final approval for a new $7 billion loan program with the International Monetary Fund (IMF), Bloomberg reported. Finance Minister Muhammad Aurangzeb confirmed after a parliamentary committee … Read more