Stories from Saudi Arabia

Saudi Arabia and the United Arab Emirates have announced plans to adopt a joint defense model against missile attacks. Reuters reports that Mohammed bin Salman is pursuing this shared approach to counter missile threats.

Red Sea International has reduced its accumulated losses to 41.024 million riyals, representing 8.5 percent of its capital. The company achieved this following an extraordinary general assembly meeting that approved the conversion of a balance and the issuance of shares. The company attributed previous growth in losses to declining revenues and increased expenses. Herfy announced that its losses decreased to 3.9 million riyals by the end of the first quarter of 2026. This represents a reduction from the 18 million riyals in losses reported during the same period in 2025. The company attributed the decrease in losses to specific operational factors during the current quarter. Red Sea stock led gains with a 10% increase.

Takween Advanced Industries reported a 166 percent increase in losses during the first quarter of 2026. The losses reached approximately 2 billion riyals. The company attributed the growth in losses to declining revenues and rising expenses.

Gulf countries are requesting serious initiatives from Iran to restore trust.

The Sharaan Nature Reserve in AlUla has been included in the International Union for Conservation of Nature (IUCN) Green List of protected areas. The reserve is one of six protected areas forming a core pillar of the AlUla biodiversity strategy.

Saudi scientists have excavated the first national archaeological laboratory. The site is being developed to shape a modern archaeological identity within the Kingdom.

An Indonesian pilgrim named Komaria Dultoi from Pasuruan, East Java, died in Medina on April 27, 2026. The Ministry of Religious Affairs reported the death of the 50-year-old individual. The deceased was reportedly part of an international Umrah group. An 85-year-old Indonesian pilgrim named Maria Asia Higa Pungatakan has died in Medina. According to the report, the total number of pilgrims who have passed away in Medina has reached 1,373. Additionally, 30 pilgrims have been referred to the Indonesian Hajj Health Clinic. A total of 104 clusters containing 40,000 pilgrims have been flown to Medina. Each cluster is equipped with one doctor and one healthcare worker. Medical services are being provided across various points, including clusters, sectors, and health facilities in Mecca and Medina. The support is being provided by Saudi Arabian referral hospitals and healthcare officers.

Saudi Arabia may follow its neighbors in exiting the OPEC Plus agreement. The United Arab Emirates has closed the decision-making window for its exit from OPEC Plus as of April 1, 2021, and stated the decision will be discussed in line with national interest following a review of production policy. The decision for the UAE to exit OPEC Plus may involve factors beyond economic interests, according to a report from NTV Radyo. Analysts suggest the move could lead to different types of divisions within Saudi Arabia and the Gulf region. The situation is being viewed through the lens of interests involving the US, Israel, and other Gulf nations. The move could involve the UAE creating space for itself by following American political trajectories. The decision is reportedly driven by long-term strategic and economic visions.

Saudi Telecom Company (STC) announced a dividend distribution totaling 2.33 billion 320 million riyals. Profit growth between the first quarters of this year and the previous year reached 14 percent. Revenues remained stable, which increased profit margins from 16 percent to approximately 18 percent. The company demonstrated an ability to achieve higher quarterly growth rates. Revenues for the same period reached 19.37 trillion riyals. The company stated that customer unit revenues increased by 25 percent. STC reported first quarter revenues of approximately 3.7 billion riyals. The company attributed profit growth to revenue increases and an 11 percent rise in operating profit. Total revenues for the first quarter reached 19.93 billion riyals, representing 4 percent growth. Total expenses in other areas decreased by 166 million riyals.

Asr Industrial Group reported profits of 173,138,000 Saudi Riyals for the first quarter of this year. The reported figure is equivalent to 40 billion riyals. The group maintains cash reserves of 2.332 billion riyals as of the end of the first quarter. The company also announced a cash dividend distribution. Saudi Basic Industries Corporation (SABIC) transitioned from losses to a net income exceeding 13 billion riyals in the first quarter of 2026. The company attributed the profitability to restructuring measures and improved operational efficiency following a period of pressure and declines. The company noted that revenues decreased by 11% due to lower sales volumes compared to the previous quarter. This followed a prior quarter where the company incurred non-cash losses exceeding 17 billion riyals related to asset revaluations and international divestments.