Stories from Saudi Arabia

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.

Henni Hamida, Director of Indonesian Citizen Protection at the Ministry of Foreign Affairs, said the Indonesian Consulate General in Jeddah is coordinating with Saudi Arabian authorities and travel organizers to handle victims.

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.

A major public-private partnership project in Jeddah aims to develop infrastructure and services. The project covers approximately 107 million square meters and includes 41 government-granted land plots.

King Abdulaziz Port in Dammam has begun implementing controls that require the settlement of storage fees before goods can be released from the port. This measure is part of an effort to regulate procedures and increase operational efficiency.

Satellite imagery shows thick smoke rising from the Ras Al Khair oil refinery. The visual follows ongoing airstrikes on Ras Al Khair cities, according to the report. The source did not specify the cause of the smoke or the extent of the damage.

The Saudi Ports Authority has introduced a new service titled SGAX at Jeddah Islamic Port. The route links Europe directly to King Abdullah Port and Jeddah Port in Saudi Arabia, as well as Aqaba Port in Jordan. The company stated the service aims to meet growing demand from Europe to the Red Sea while addressing current challenges in the Middle East. The announcement was made to respond to evolving regional conditions. East Sea Shipping has launched a new express service connecting major European ports to Saudi Arabia's King Abdullah Port, Yanbu Port, and Jordan's Aqaba Port. The company stated the launch responds to growing demand for Europe-to-Red Sea services and aims to address the challenging situation in the Middle East. The service aims to provide direct connections through multiple transit points.

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.