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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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Saudi Aramco to Expand Huge Gas Plant as Global Demand Surges and Market Dynamics Shift
Saudi Aramco is moving ahead with plans to expand the Fadhili gas processing facility in the kingdom’s Eastern Province as part of its strategy to tap vast and under-developed gas resources within Saudi Arabia, according to a report in Bloomberg.
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Dolce & Gabbana Launches Flagship Saudi Store at Via Riyadh after Approaching KSA Market with ‘Caution and Respect’
Fashion icon Dolce & Gabbana unveiled a unique strategy for Saudi Arabia, opening up a flagship new store in Via Riyadh after approaching the market with “caution and respect,” Vogue Middle East reported.
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KSRelief Spearheads Saudi aid to Gaza and the Globe
King Salman Humanitarian Aid and Relief Centre (KSRelief) provides humanitarian aid and relief to people outside of Saudi Arabia’s borders. KSRelief was established by King Salman bin Abdulaziz in 2015 and works in 46 countries, with a focus on the Middle East and North Africa region.
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Biden’s Oil Boom
Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.
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PIF Increases Investment in Lucid
Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.
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Saudi Arabia to join Miss Universe for the first time
27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.
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Hyundai and Red Sea Global Agree to Test EVs and Air Mobility Systems
Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.
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Saudi Film Commission Reports Impressive 2023 Growth Statistics
Published in Screen Daily, the Saudi Film Commission reported on topline 2023 metrics for Saudi Arabia’s growing film industry. With more than 50% of the Saudi population under 25, there is a significant appetite for cinema, particularly for US action films, Egyptian comedies, and Saudi narratives.
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FIFA Series 2024 Friendly Matches Kick Off in Jeddah
The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]
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Saudi Arabia’s “pride” at hosting the FEI Dressage World Cup Final 2024
The finals will be held in the Arabian Peninsular for the first time, and this is a golden opportunity for our sport to shine in what has become one of the world’s most ambitious major events markets. The Riyadh International Convention & Exhibition Center will welcome global stars such as Henrik von Eckermann and Isabell Werth as well as home favourite Abdullah Alsharbatly between today’s opening rounds in Dressage and Jumping and the medals being awarded on Friday and Saturday.
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Russia told OPEC it would export less oil. It’s actually exporting more
Bloomberg reports that outgoing Russian oil shipments hit nearly 4 million barrels a day this week. That would be the highest level since May of last year. Russia broadcast last month that it would soon be cutting exports by 121,000 barrels a day from the levels of last May and June, but so far this year exports are actually higher than that.
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Mideast missile duels have cost US Navy nearly $1B, secretary says
The U.S. Navy is nearly $1 billion in the hole after defending Israel from Iranian missiles last weekend and fighting off Houthi attacks on Red Sea shipping since October, the service’s secretary said Tuesday in a bid to convince House lawmakers to approve $95 billion in supplemental funding.
“I would argue that the President's budget numbers are adequate, but that's also prior to the attacks that we've just had this weekend alone, for example. So we are now closely approaching $1 billion in expenditures for munitions that we need paid back by the supplemental,” Carlos Del Toro told senators during a Senate Appropriations subcommittee hearing. -
Opinion: The Question Of Iran For Saudi Arabia
GCC countries have long since learned to watch Iranian actions, not listen to its words, when judging its behavior. And Tehran’s actions in Syria, Lebanon, Iraq and particularly in Yemen, even after the reestablishment of diplomatic ties, have confirmed its malign intentions toward the Gulf. Ayatollahs Khomeini and Khamenei have often and directly criticized the governments of the GCC as being illegitimate, as do their proxies across the Arab world.
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Heavy rain lashes in Eastern Province while near zero-visibility in Qassim and Riyadh
Moderate to heavy rainfall, accompanied by high-speed winds, hailstones, and torrential rain, witnessed in many cities and governorates of the Eastern Province on Monday amid forecast of the possibility of extending rain depression, which struck parts of the Sultanate of Oman and the United Arab Emirates, to the region.
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Top Saudi diplomat says Mideast can’t afford more conflict amid Iran-Israel tensions
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan said on Tuesday that the Middle East cannot afford further conflict, amid heightened tensions between Iran and Israel.
Speaking at a press conference with his Pakistani counterpart during a visit to Islamabad, Prince Faisal urged all parties to prioritize de-escalation.
Over the weekend, Iran launched hundreds of drones and missiles, including from its own territory, targeting Israel in retaliation for a deadly strike on Iran’s consulate in Damascus on April 1.
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Riyadh eyes significant investment in Pakistan, Saudi FM says
Saudi Arabia's foreign minister said on Tuesday that Riyadh will be "moving ahead significantly" to invest in projects in Pakistan, days after Islamabad announced that the Kingdom had pledged to expedite $5 billion in investment.Prince Faisal bin Farhan bin Abdullah arrived in Islamabad on Monday to lead a delegation on a two-day visit as part of efforts to boost economic cooperation.His Pakistani counterpart Ishaq Dar told a joint news conference that Pakistan gave extensive briefings to the delegation on potential investment projects.
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Saudi’s Neom Hunts for More Cash for $1.5 Trillion Desert City
Neom has appointed banks including HSBC Holdings Plc and the securities units of Al Rajhi Bank and Saudi National Bank to advise on the sale of Islamic bonds, or sukuk, the people said. The debt would be denominated in the local currency and could raise as much as 5 billion riyals ($1.3 billion), they said, asking not to be identified as the information is private.
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Inaugural Esports World Cup in Saudi Arabia, worth more than $60M, hopes to send ‘positive message’ to struggling industry
Boasting the largest prize pool in esports history, this year’s inaugural 2024 Esports World Cup (EWC) could prove to be a pivotal moment for the industry.
Organized by the Esports World Cup Foundation – and with the latest details announced on Tuesday – the EWC will bring together gamers, publishers and fans from across the world under one roof for an eight-week competitive gaming bonanza in Riyadh, Saudi Arabia.
The tournament will include top global clubs competing against each other across 19 esports titles, including Apex Legends, Counter-Strike 2, Dota 2, EA Sports FC 24, Fortnite, League of Legends, Rocket League, StarCraft II, Street Fighter 6 and TEKKEN 8.
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China willing to work with Saudi Arabia to avoid further tension in Middle East
China is willing to work together with Saudi Arabia to avoid further escalation of confrontation in the Middle East, Chinese Foreign Minister Wang Yi said to his Saudi counterpart over a phone call. China appreciates Saudi Arabia’s emphasis on resolving the issue of the attack on Iran’s embassy in Syria through diplomatic means, the official Xinhua said.
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