Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco's CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi.
Jeddah's King Abdulaziz International Airport is set to unveil its long-awaited new look at a soft opening in May, the Jeddah-based Saudi Gazette reports, citing confirmation by the General Authority of Civil Aviation (GACA) and the emir of Mecca.
Saudi Arabia's King Salman on Wednesday attended the opening ceremony of the Kingdom's 32nd National Festival for Heritage and Culture, held in Janadriyah village on the northern outskirts of Riyadh.
A recent report by international real estate company Jones Lang LaSalle said that 2018 would be a "year of implementation" for Saudi Arabia following a historic 2017 in which Saudi Arabia saw great social and economic change.
The locations of the two sites are at Umm Huwayd and Khor Duweihin, which are on the Arabian Gulf coast of Saudi Arabia near Qatar and the United Arab Emirates.
Saudi Arabia will soon raise gasoline and jet fuel prices by 80% on consumers as part of broader economic reform plans meant to curb domestic consumption of oil that could be used for exports.
The latest edition of the monthly Chartbook from Jadwa Investment finds economic indicators showed improving performance during the month of October this year, citing a "notable improvement" in cash withdrawals from ATMs and POS transactions.
There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey.
