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Taps open for Saudi listings after Aramco’s record IPO
Several Saudi Arabian companies are planning to list shares on the Riyadh exchange in coming months in the wake of oil giant Aramco’s record IPO.
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Video: Hordes of locusts block out the skies in Saudi Arabia
Residents of Saudi Arabia took to social media this week to post the bewildering sight of a swarm of 360 billion (with a B) of locusts. The massive locus swarm measures roughly the size of New York’s island of Manhattan, and has caused tens of millions worth of damage. It has already devastated parts of East Africa, and the worst is yet to come.
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Saudi Arabia reveal ambitious plans to host more high-profile golf events
“But we’re not going to stop with one. We’re in communication with the Asian Tour, we’re in communication with the European Tour to have a second. I cannot really announce it yet, but I think we will have another one announced very soon.
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Saudi female bikers get ready to hit the road
While Saudi women are building their skills at the Bikers Skills Institute, women bikers on the Kingdom’s roads are still a rare sight. “We don’t expect any increase in number, especially because women form only 3 percent of bikers in the world,” Bukaryeva said.
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Egypt to ink joint electricity grid deal with Saudi Arabia in May
Set to be the largest joint electricity grid in the Arab world, the new project will include overhead transmission lines between the two countries and an offshore power cable as well as power substations for transmitting about 3,000 megawatts (MW) between Egypt and Saudi Arabia, Mashaly added. Egypt has become a regional power hub after moving from electricity deficit to a surplus of 40% at times, Mashaly noted.
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Saudi private sector growth in January slowest since December 2018: PMI
Growth in Saudi Arabia's non-oil private sector was at its slowest in just over a year in January, as cautious consumer spending hampered new business growth and export sales dipped, a survey showed on Tuesday. The seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) declined to 54.9 in January from 56.9 in December. Any reading above the 50 mark indicates expansion.
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Saudi startups received funding worth $67 million in 2019
According to MAGNiTT's most recent report, "2019 Saudi Arabia Venture Capital Snapshot," the number of startup investments totaled 71, amounting to a 92-percent growth since 2018's total of 37 deals. This quick and sudden rise in investment and funding has pushed the kingdom up the ranks among the MENA region's countries, placing it third after the UAE and Egypt, respectively.
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Agreements Signed to Set up Innovative Saudi Media City
Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan Al Saud signed on Tuesday three agreements to set up an ambitious Media City project in the Kingdom. The deals cover cultural, media and technical aspects of the city, which will serve as a unique global destination.
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Saudi Arabia and Yemen’s rebels were making rare progress in peace talks. Then new violence flared.
While McKenzie said the recent fighting did not aid prospects for peace, he identified Iran’s support for the rebels as the bigger problem. “It is in the Houthis’ best interest probably to come to some political deal. It is not necessarily in Iran’s best interest for that outcome to occur,” he said.
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Saudi Arabia evacuates students from China, quarantines them upon arrival
So far, the UAE is the only country in the region to have confirmed cases of the virus. Early on Sunday, the Gulf nation said it was dealing with a fifth infected patient, a Chinese tourist who recently arrived from Wuhan.
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