Saudi Arabia held its position as the biggest supplier of crude oil to China for an 11th month in a row in October, with volumes up 19.5 per cent from a year ago, Arab News quoted Customs data, as showing. Saudi oil arrivals totalled 7.1 million tonnes, or 1.67 million barrels per day (bpd), data from the … Read more
DUBAI: The clients of global banking group Citi are seeing “significant opportunities in Saudi Arabia,” Arab News quoted CEO Jane Fraser, as saying, as the bank ends a high-profile delegation visit to the kingdom. The delegation, led by Fraser, met with key government officials and selected clients to talk about Citi’s work in the region’s … Read more
RIYADH: Top Saudi real estate developers have formed a tripartite alliance to establish a housing project in Riyadh, the Saudi Press Agency reported. The alliance will build 580 villas spread over 300,000 sq. m. Al-Othman Group, Tamimi Real Estate, Isam Khairi Kabbani allied under Tilal Properties will develop the project in Aljwan, north of Riyadh. The project … Read more
RIYADH: Saudi Exim Bank has announced that it signed a memorandum of understanding with HSBC Bank and Saudi British Bank to advance trade and export financing and credit insurance, Arab News reported. The partnership is in line with the Saudi Exim Bank’s objectives to boost the export of Saudi products and services. Bank’s CEO Saad Alkhalb said … Read more
RIYADH: Saudi Arabia’s launch of its first women’s football league on Monday will clear the way for girls who dream of turning professional — and maybe even playing in a World Cup. Long condemned for harsh restrictions on women, Saudi Arabia lifted a decades-old ban on female footballers only a few years ago, and it is now aiming … Read more
SANAA — Yemen’s Houthi militia on Saturday said they launched 14 bomb-laden drones to attack several airports and oil facilities in Saudi Arabia in response to what it said “Saudi-led coalition escalation in Yemen.” “We targeted the King Khalid Air Base in Riyadh city with four drones, hitting military targets at the King Abdullah International … Read more
CAIRO: Saudi Arabia has limited permits for performing Umrah or lesser pilgrimage for overseas Muslims aged 18 to 50 years, Gulf News reported. Overseas pilgrims are also required to be fully inoculated against the Covid-19 before travelling to the kingdom, with vaccines recognised in Saudi Arabia and to present an officially endorsed vaccination certificate to obtain an … Read more
RIYADH: Kitopi, the world’s leading managed cloud kitchen platform, has invested in multiple regional food and beverage groups as part of its next phase of growth, according to a company statement. The Dubai-based company has begun initial investments in Cloud Restaurants (famous for Go! Greek and Go! Healthy), Leap Nation (famous for Tawook Nation and … Read more
MOSCOW: Saudi Arabia’s crude oil exports increased in September for the fifth month in a row, Arab News quoted official data posted on Jodi Data Initiatives Organisation’s website. The kingdom exported 6.52 million barrels/day (bpd) of crude oil, up by one per cent from August and 8 per cent from a year ago, the data … Read more
RIYADH: Saudi Arabia will host the largest technology event-ever, LEAP in February 2022, Arab News reported. Taking place on February 1 to 3 in Riyadh, it is set to become a global platform for the entire innovation ecosystem, connecting pioneers and disruptors with business and government leaders, entrepreneurs, investors and more to experience and learn about the … Read more
RIYADH: Saudi Arabia launched on Wednesday the largest factory for solar panels production in the Middle East and North Africa (MENA) region, in Tabuk Industrial City, with SR700 million ($186.6 million) worth of investments, SPA reported. The factory is located on a total area of more than 27,000 square meters, with an estimated production capacity of 1.2 … Read more
RIYADH: Marriott International plans to double the number of its hotels in Saudi Arabia, Arab News quoted Saudi Minister Ahmad Al-Khateeb, as saying. In doubling the number of its hotels, Marriott will also create over 21,500 jobs that will support the Kingdom’s goal of 1 million new tourism jobs by 2030, Al-Khateeb said on his … Read more
CAIRO: Saudi Arabia has allocated an independent annual budget to the Economic Cities and Zones Authority (ECZA), to transform the kingdom into a global hub for high-value, long-term investments, Arab News reported. The independent budget will allow ECZA to enjoy flexibility and powers that enable it to carry out its tasks. The authority had also signed with … Read more
RIYADH: Saudi Arabia’s government offered SR-denominated Sukuk worth SR614.179 million ($164 million) for the November issuance, Arab News quoted the National Debt Management Center (NDMC), as saying in a statement. The issuance comes under the Saudi Arabian government SR-denominated Sukuk programme. The kingdom collected a total amount of SR74.2 billion of Sukuk in monthly issuances … Read more
RIYADH: The Saudi cabinet has delegated the kingdom’s energy minister to discuss and sign a potential memorandum of understanding in the field of hydrogen energy with China, Saudi Press Agency reported, citing the cabinet’s weekly statement. The cabinet has also authorised the minister of health to discuss and sign a draft agreement with the World … Read more
RIYADH: Those wishing to start a business in Saudi Arabia while outside the kingdom will find the task easier; following the streamlining of the licensing procedure, Arab News reported. Setting up a business in the Arab world’s biggest economy now will require only three steps, reducing the legwork that investors have to go through. The … Read more
KARACHI: Ambassador Hissein Ibrahim Taha, the secretary general-elect of the Organisation of Islamic Cooperation, assumed the charge at the OIC’s General Secretariat headquarters in Jeddah on Wednesday, a statement said. Ambassador Taha was elected in November 2020 during the 47th session of the Council of Foreign Ministers (CFM) held in Niamey, Republic of Niger, as … Read more
DUBAI: The 5th Global Franchise Market Exhibition, the markets’ leading event in the field of franchising, concluded on Tuesday. The two-day event witnessed a strong turnout from various brands. The exhibition serves as a platform for investors who are looking to expand their presence in the franchising sector. The exhibition also acted as a link … Read more
KARACHI: Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia has approved a new law that grants citizenship to highly skilled foreigners in the Shariah, legal, medical, scientific, cultural, sport and technical fields. The royal decree was made in support of achieving the Saudi Crown Prince Mohammed bin Salman’s … Read more
RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman affirmed the kingdom’s commitment to enhance the stability of global energy markets in the light of the availability of safe technologies to manage and reduce carbon emissions, Arab News reported. During a phone call with British Prime Minister Boris Johnson, Crown Prince Mohammed bin Salman also discussed … Read more
RIYADH: The total value of point of sale transactions in the kingdom fell 3.3 per cent to SR10 billion ($2.7 billion) in the week ended November 6, compared with SR10.3 billion in the previous week, Arab News quoted the Saudi Central Bank, as saying. According to the SAMA’s weekly report, the number of transactions slid … Read more
RIYADH: The National Debt Management Center (NDMC) completed receiving investors’ requests of the third international offering during 2021 for Sukuk and bonds under the kingdom’s Global Trust Certificate Issuance programme and the Global Medium-term Note Issuance programme, Arab News reported. The total order book reached over $11 billion, which oversubscribed 3.5 times, the NDMC said … Read more
LONDON/RIYADH: Saudi Arabia will not stop producing oil and natural gas. As a matter of fact its national oil company, Saudi Aramco, is pressing ahead with plans to increase its maximum production capacity by another million barrels to hit 13 million barrels/day, Arab News reported. “We know that there will be demand for Saudi oil,” Saudi Energy … Read more
RIYADH: The Avenues, a Kuwait-based shopping mall, plans to expand into Saudi Arabia in the next four years, Arab News reported. It will launch two outlets in Riyadh and Alkhobar, said Khalid Al-Shariaan, CEO of Al-Mabanee, the company that operates the mall. The design for Riyadh is now complete and the contract is expected to be awarded … Read more
RIYADH: Saudi Arabia’s Kingdom Holding Co has announced that it turned into profit in the first nine months of 2021, after seeing its net profit jumping by 145 per cent, Arab News reported. The company revealed in a filing that it made a net profit of SR612 million ($163 million), compared with a loss of SR1.37 billion … Read more
RIYADH: The hospitality sector in Saudi Arabia is poised for a significant post-pandemic rebound, despite a 3.4 per cent fall in the average occupancy rate in the sector, Arab News quoted a report from the real estate investment group CBRE, as saying. The US-based firm’s latest Saudi Market Review attributes the decline to a fall in occupancy … Read more
ISLAMABAD: Saudi Arabia had always supported Pakistan in difficult times, a senior government official said. Speaking at the inaugural ceremony of the Saudi Winter Kit Distribution, Minister for Information and Broadcasting Chaudhry Fawad Hussain said that the project would provide shelter to the poor people, especially those hit by the natural calamity in Harnai, Balochistan. … Read more
RIYADH: Two major delivery companies have cancelled or drastically scaled back their services between Saudi Arabia and Lebanon, employees said on Wednesday, following a major diplomatic row between the two countries. DHL has stopped inbound and outbound shipments between the two countries, a company employee, who spoke on condition of anonymity, told AFP. An email … Read more
