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70% Saudization of retail, wholesale outlets of 9 key sectors starting Aug. 20
The decision includes Saudization of the following economic activities: selling coffee, tea, honey, sugar and spices; water and beverages; fruits, vegetables and dates; selling grains, seeds, flowers, plants and agricultural materials; selling books, stationery and student services; gift and luxury stores, accessories, handicrafts and antiques; selling toys; selling meat, fish, eggs, dairy, vegetable oil; and detergent, plastic and soap.
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Emirates gets nod to operate special Saudi flights after virus ban
The flights will facilitate the return of travellers whose journeys were disrupted by the recent travel restrictions implemented by the kingdom as a containment response to the Covid-19 outbreak.
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Saudi Arabia detects another five cases of new coronavirus: state TV
Saudi Arabia’s health ministry said on Monday it has detected five new cases of the new coronavirus, state TV reported. Four Saudi citizens were diagnosed with the disease, three of whom had arrived from Iran and Iraq. The fifth case is of an Egyptian man who arrived from Egypt to the kingdom, the ministry added.
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Deal signed to train 11,000 Saudis in real estate sector
The Saudi Human Resources Development Fund (Hadaf) on Monday signed an agreement with the Real Estate General Authority (REGA) to train and employ more than 11,000 Saudi researchers and jobseekers in the real estate sector.
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These oil stocks took the biggest beatings after Saudi Arabia shocked the energy market
The S&P 500 energy sector tumbled 20%, as West Texas crude oil for April delivery CL.1, 7.613% fell 25% to settle at $31.13 a barrel. That was the largest one-day price drop for oil since 1991.
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How Saudi Arabia’s entertainment sector will help its economy
Riyadh Season, a multi-location festival, proved to be a massive success and generated a whopping 1 billion Saudi riyals ($266.5 million) for the kingdom after running from October 2019 to January.
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Saudi Arabia sets 72-hour deadline to return to Kingdom amid coronavirus fears
The Saudi government has given nationals who wish to return to the Kingdom three days to make their journey from the United Arab Emirates and Bahrain, Saudi Arabia’s consulates announced on Tuesday. Nationals can take Saudia flights from Dubai airport during the next three days. Alternatively, Saudis can enter through Al-Batha border checkpoint near Abu Dhabi.
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Saudi Arabia Increase Oil Output to Record High
Saudi Arabia's state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount. The move seems to make good on the country's promise over the weekend to increase output after Russia refused to cooperate on cutting production. That led to a 25% plunge in the price of crude on Monday, the sharpest decline seen since the 1991 Gulf War. International benchmark Brent crude traded up over 7% Tuesday at nearly $37 a barrel.
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How Putin spurned the Saudis to start a war on America’s shale oil industry
After five hours of polite but fruitless negotiation, in which Russia clearly laid out its strategy, the talks broke down Friday. It wasn’t just traders who were caught out: Ministers were so shocked, they didn’t know what to say, according to a person in the room. The gathering suddenly had the atmosphere of a wake, said another.
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Perspective: 34-Year-Old Saudi Crown Prince Consolidates His Power
“There are fewer princes in the cabinet now than was the norm under previous kings, and even the foreign ministry is in the hands of a member of a cadet branch of the Al Saud family, not a direct descendant of the founding king,” said Gregory Gause, a professor of international affairs at Texas A&M University. “That’s a major change for a country where previous kings consulted a range of powerful princes before setting government policy.”
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