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Articles in Saudi Gazette

GENERAL

GeneralJune 3, 2026

IMF praises Saudi economy’s resilience and ability to adapt swiftly to crises

RIYADH — The International Monetary Fund (IMF) experts highlighted that the Saudi economy has demonstrated remarkable resilience amid the repercussions of the ongoing conflict in the Middle East, supported by its strong structural fundamentals and diversified oil and logistics infrastructure. At the conclusion of its Article IV consultation mission, the IMF noted that the Saudi authorities’ proactive measures effectively alleviated maritime traffic congestion in the Strait of Hormuz by swiftly rerouting shipments through the East-West pipeline and Red Sea ports, in addition to utilizing Saudi Aramco’s foreign reserves. In April, the IMF projected Saudi Arabia’s economic growth at 3.1 percent for 2026, reflecting a 1.4 percentage point reduction compared to its January forecast. The Fund emphasized that the Kingdom remains among the countries least affected by the Iranian conflict, thanks to the availability of alternative export routes. Furthermore, the IMF raised its GDP growth forecast for 2027 by 0.9 percentage points to 4.5 percent, assuming that energy production and transportation activities return to normal levels in the coming months.

Saudi Gazette1 min read

GeneralJune 3, 2026

South Korean foreign minister emphasizes improving bilateral ties with Saudi Arabia

RIYADH — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan received a written message from South Korea’s Minister of Foreign Affairs Cho Hyun. The message is pertaining to further improving bilateral relations between the two countries. South Korea’s Ambassador to Saudi Arabia Kang Shin-chul handed the message to Dr. Abdulrahman Al-Rassi, undersecretary for multilateral international affairs and general supervisor of the ministry's agency for economic and development affairs, during their meeting at the ministry's headquarters in Riyadh on Wednesday. During the meeting, they reviewed joint cooperation between the two friendly countries. They also discussed regional and international issues of mutual concern.

Saudi Gazette1 min read

GeneralJune 3, 2026

Saudi non-oil private sector growth at its fastest pace in three months

RIYADH — Saudi Arabia’s non-oil private sector activity posted growth at its fastest pace in three months during May, signaling a strong recovery from the slowdown recorded in March. Companies attributed this rebound to the restoration of normal business conditions following earlier disruptions linked to the regional conflict, the resumption of previously suspended work contracts, and stronger domestic demand. The Riyad Bank Saudi Arabia’s Purchasing Managers' Index (PMI) rose to 52.8 points in May 2026, representing a 2.5 percent increase and reflecting a notable improvement in the business environment. The non-oil private sector recorded stronger performance in May, with the index indicating a sharp increase in output driven by firmer domestic demand and more stable supply chains. However, growth in new orders remained modest amid another steep decline in exports. Business optimism also remained subdued, while rising input costs continued to exert significant upward pressure on output prices. According to the report, the index remained well below its long-term historical average of 56.8 points, with some companies reporting that ongoing geopolitical tensions in the region had continued to restrain the pace of growth. Despite the strong increase in output, demand conditions appeared relatively muted in May. New orders expanded overall, but the rate of growth was modest and remained significantly below the long-term trend. Improved economic conditions and the resumption of projects supported activity, although these gains were partially offset by subdued customer spending and persistently intense competitive pressures. External demand also remained weak, with new export orders declining sharply for the third consecutive month. This downturn was attributed to shipping disruptions, higher freight and fuel costs, and ongoing geopolitical tensions.

Saudi Gazette1 min read

GeneralJune 3, 2026

Al-Khereiji visits Yemen embassy to offer condolences on the death of former President Hadi

RIYADH — Deputy Minister of Saudi Foreign Affairs Waleed Al-Khereiji offered his condolences on the passing of former President of Yemen Abdrabbuh Mansur Hadi in Riyadh on Wednesday. During his visit to the Yemeni Embassy to Saudi Arabia in Riyadh, Al-Khereiji expressed his deepest condolences and sympathies to the family of the deceased and to Yemen, its leadership, and people.

Saudi Gazette1 min read

GeneralJune 3, 2026

GCC chief condemns Iran’s continued aggression, calling it dangerous escalation

RIYADH — Gulf Cooperation Council (GCC) Secretary General Jasem Albudaiwi strongly condemned Iran’s continued aggression against Bahrain and Kuwait, describing the actions as a dangerous and unprecedented escalation. He stated that such attacks reflect the Iranian regime’s persistence in pursuing hostile and unacceptable policies that undermine the security, stability, and sovereignty of GCC member states. Albudaiwi stressed that these actions constitute a clear violation of international law and the principles of good-neighborly relations, reaffirming the GCC’s firm rejection of any threats to the region’s security and territorial integrity. Albudaiwi emphasized that the GCC stands firmly alongside both countries and fully supports all measures taken to safeguard their security, sovereignty, and territorial integrity against any threats or acts of aggression.

Saudi Gazette1 min read

GeneralJune 3, 2026

Saudi Arabia slams brutal Iranian aggression on Kuwait and Bahrain

RIYADH — The Ministry of Foreign Affairs expressed Saudi Arabia’s strongest condemnation of the brutal Iranian aggression and the blatant violation of the sovereignty of Bahrain and Kuwait, including the attacks on Kuwait International Airport and several of its vital facilities, which resulted in the death of one person and injuries to others.In a statement, the ministry affirmed that Saudi Arabia categorically rejects these attacks, which infringe upon the sovereignty of the Gulf states in clear violation of international law and the Charter of the United Nations. The Kingdom emphasized that such violations undermine international efforts aimed at restoring security and stability in the region.Saudi Arabia reiterated its steadfast solidarity with Bahrain and Kuwait, fully supporting all measures they undertake to safeguard their sovereignty, security, and stability. The Kingdom extended its condolences and sympathy to Kuwait and conveyed its wishes for the swift recovery of the injured. Kuwait briefly shut its main airport Wednesday after Iranian drones heavily damaged a terminal building, killing one Indian national and wounding 63 persons.

Saudi Gazette1 min read

GeneralJune 3, 2026

Mawani adds new shipping service linking Jeddah to India, Djibouti

JEDDAH — The Saudi Ports Authority (Mawani) has added the new “SRS” shipping service by Emirates Shipping Line to Jeddah Islamic Port, connecting the port with India and Djibouti and boosting the Kingdom’s connectivity to global markets. The addition of the Emirates shipping service will improve supply chain efficiency and support trade movement across the Red Sea, one of the world’s most important maritime corridors. The new shipping service — which will connect Jeddah with Mundra Port in India and the Port of Djibouti — has a carrying capacity of up to 2,144 TEUs. The initiative is part of Mawani’s efforts to enhance Saudi Arabia’s ranking in global performance indicators and support national exports. It is also in line with the National Transport and Logistics Strategy’s objectives of positioning the Kingdom as a link connecting three continents, making it a global logistics hub.

Saudi Gazette1 min read