Stories from Riyadh · Saudi Arabia

Global oil reserves are currently sufficient to cover 101 days of global demand. and Israel, making constructive solutions difficult. The UAE's defense ministry detected and intercepted missiles from Iran. Iran's actions are attributed to US military adventurism aimed at controlling transit through the Hormuz Strait, and a decrease in trust regarding nuclear negotiations. The US Central Command commander stated the incident was due to US adventurism to ensure passage through the Strait of Hormuz. Global financial markets are closely watching Iran's actions, with the New Taiwan Dollar appreciating against the US Dollar to 31.605. Reports indicate that Iran's recent missile activity has not reached the threshold for large-scale combat operations. A US military tanker, a Boeing KC-135, reportedly issued an emergency code 7700 over the Persian Gulf off the coast of Iran.

Saudi Arabia has achieved fiscal levels close to expectations despite regional market fluctuations in the Gulf. The plane was flying from Al Udeid Air Base in Qatar to an undisclosed destination.

The Zakat, Tax and Customs Authority (ZATCA) has called on entities subject to withholding tax in Saudi Arabia to submit their tax withholding models for April. The initiative aims to ensure compliance for the previous month.

The Saudi Ministry of Finance issued its weekly report for the first week of May. Real estate trading volume exceeded 7,457,000 square meters on the same day. Riyadh recorded the highest price per square meter in the Kingdom at 15,480 riyals.

A US Air Force KC-46A refueling tanker sent an emergency code 7700 while flying over Saudi Arabia en route to Tel Aviv. This code indicates an urgent in-flight emergency requiring immediate landing. The aircraft transmitted a 'Mayday' distress call. A US military Boeing KC-135 refueling aircraft issued an emergency 7700 code while flying over the Persian Gulf near Iran, according to flight tracking data cited by the European Broadcasting Corporation. Neither the United States nor Iran has released further statements regarding the incident. The emergency signal occurred during a period of heightened maritime tension in the region. The aircraft was reportedly flying in the waters off the coast of Iran. US President Donald Trump announced via social media that the operation in the Persian Gulf will conclude within two months.

Turkey and Saudi Arabia plan to sign a visa waiver agreement soon. An expert who previously summited Mount Everest and visited Japan's Mount Asuka is reportedly involved in the situation. The report was cited by Turkish diplomatic sources via Reuters. The Turkish Minister of Energy has set fuel price caps. The timeline for implementation was not specified. The agreement will allow for mutual visa exemption for holders of ordinary and diplomatic passports. This move is seen as a step in improving relations between the two countries, driven by economic complementarity and security cooperation. Experts believe multiple internal and external factors are driving the continued warming of relations between the two countries. According to Turkish diplomatic sources on May 5, the agreement will implement mutual visa exemptions for both ordinary and diplomatic passport holders.

The Chinese U-23 national team is scheduled to play India tomorrow morning in Saudi Arabia. The team has a disciplinary advantage over competitors facing point deductions.

Riyadh Cables Group reported a 10 percent increase in profits for the first quarter of 2026. The company reached 228 million riyals in profit by the end of the quarter. This follows a previous profit figure of 256 million riyals. The company's financial performance showed growth.

Riyadh recorded a 43 percent increase in the number of deals compared to the same day last week. The city registered 93 deals totaling more than 103,583,000 Saudi riyals. US officials described negotiations amid rising tensions and the threat of war.

The Saudi Ministry of Foreign Affairs expressed concern regarding increasing military activity in the region. The Saudi Foreign Ministry has released information regarding the situation between Iran and Saudi Arabia. Saudi Arabia's Ministry of Communications and Information Technology, in cooperation with Amazon Web Services, recently launched a national training program. The initiative aims to qualify over 20,000 male and female citizens in artificial intelligence, machine learning technologies, and cloud computing to empower national competencies.