Stories from Riyadh · Saudi Arabia

Al-Mawasalat Services recorded a 200 percent increase in net profit during the first quarter of 2026. The company reported net profits of 200 million riyals. This growth occurred despite a decline in operating profits.

Saudi Arabia's sovereign wealth fund will stop financing the LibGolf breakaway tour at the end of the 2026 season. The funding was originally expected to continue through 2027. This decision ends a stream of over $5 billion in investments that had been flowing since 2022. The source noted that it may be difficult for other entities to match the previous investment levels. The decision follows obligations related to the upcoming World Expo and the World Cup. The broadcaster noted that the country cannot print money to fund all projects simultaneously and is prioritizing these specific obligations. This move follows a trend of the fund limiting spending across various sports sectors. The decision comes as the fund manages capital previously generated from oil revenues.

An appeals court overturned a preliminary ruling in a lawsuit against Al-Tathmeer Investment Company. The dispute involved the invalidation of an assignment agreement with Al Rajhi Bank.

The victory ensures they remain within the top four this season. Meanwhile, Al-Riyadh remains at 23 points in 16th place and faces the threat of relegation.

World chess player Magnus Carlsen will not participate in the World Chess Tour event scheduled for August. Instead, Carlsen will compete in the Esports World Cup held in Riyadh. The two tournaments are set to take place during the same month.

The Saudi Ministry of Human Resources and Social Development reported that the Qiwa platform has surpassed 2 million registered entities. More than 13 million workers are currently registered on the platform. The ministry also noted that over 2 million employment contracts have been documented. These figures are cited as evidence of digital transformation within the Saudi labor market. The Qiwa platform recorded over 12 million employment contracts during the first quarter of 2026. These efforts aim to enhance professional peace culture and training in line with global best practices.

The Ministry of Transport announced the addition of four tracks to a major main road in Riyadh to accommodate growing traffic. The expansion aims to support a capacity of 440,000 vehicles per day.

King Salman Park in Riyadh is being developed as a major urban green space project. The park is expected to reach an aesthetic area of 16.6 square kilometers. The project aims to enhance quality of life and tourism destinations within Saudi Arabia.

Gulf Cooperation Council member states have begun work to establish an integrated railway network by 2030. The project aims to cover 2,100 kilometers of track. This infrastructure is intended to provide an alternative to the Strait of Hormuz for oil transport.

Physical activity rates in Saudi Arabia are expected to reach 59.1 percent by the year 2025. Officials stated that adopting physical activity as a lifestyle and culture is necessary to correct unhealthy behaviors. The initiative aims to mitigate health risks through behavioral changes, according to the broadcast. The ministry said that these practices are essential for long-term health management. This initiative follows guidance from medical professionals regarding health maintenance. A target group of individuals aged 18 and older is encouraged to engage in 150 minutes or more of activity per week. A doctor discussed the importance of movement, such as walking to work, to counter inactive daily habits. This increase follows a trend observed over the last five years.