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  • Airlines fly over Afghanistan as Middle East becomes the greater risk

    Singapore Airlines, British Airways (ICAG.L), opens new tab and Lufthansa (LHAG.DE), opens new tab have increased their flights over Afghanistan after years of largely avoiding it now the Middle East conflict has made it seem a relatively safe option. The carriers mostly stopped transiting Afghanistan, which lies on major routes between Asia and Europe, three years ago when the Taliban took over and air traffic control services stopped.

  • Climate change, security take top billing as Pacific Island leaders prepare to meet

    Climate change and security will dominate discussions at next week's meeting of Pacific Islands leaders in Tonga as China and the United States jostle for influence in the region. The chairman of the Pacific Islands Forum, Cook Islands Prime Minister Mark Brown, told foreign ministers from the 18 member nations this month "regional solidarity amidst the ever-increasing geostrategic interest, navigating the ongoing climate crisis and managing emerging challenges" are top priorities.

  • 59% of Saudi family businesses have no succession plan: CEO of NCFB

    The regions of Qassim and Riyadh lead in the presence of family businesses in Saudi Arabia, constituting 95% of the active commercial establishments and employ 57% of the private sector's workforce, accounting for 48% of the total workforce in Saudi Arabia, Al-Eqtisadiah newspaper reported. Moreover, 69% of family businesses are concentrated in Riyadh, Makkah, and the Eastern Province, which is a natural reflection of the economic activity in Saudi Arabia.

  • Saudi Arabia’s economy set to grow in second half of 2024

    Saudi Arabia’s economic growth is anticipated to recover in the latter half of 2024, as per research firm CreditSights. The kingdom’s GDP is projected to increase by 1.7% in 2024, with a further acceleration to 4.7% in 2025. This follows a 0.4% contraction in the second quarter of 2024, after a 0.8% contraction in 2023 and a 7.5% expansion in 2022.

  • Riyadh airport breaks passenger traffic record, with 130,000 passengers in a single day

    King Khalid International Airport (KKIA) in Riyadh broke its highest-ever passenger traffic record at the end of July and beginning of August 2024. The KKIA, managed and operated by Riyadh Airports Company (RAC), announced in a press release on Thursday that the airport reported handling 3.5 million passengers in July 2024, surpassing the previous record of 3.1 million passengers set in June—an increase of 400,000 passengers. According to the release, the airport set a new single-day record on Thursday, August 1, 2024, with 130,000 passengers, surpassing the previous highs of 125,000 on July 25 and 124,000 on June 13. In July, the airport achieved a seat occupancy rate of 91 percent, demonstrating its high operational efficiency.

  • No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy

    The fund’s investments in domestic infrastructure and real estate development grew 15% year-on-year to 233 billion riyals, while its foreign investments increased 14% to 586 billion riyals. At the same time, the Saudi government introduced laws and reforms to facilitate and even mandate investment in the country as it builds out its Vision 2030 plan to diversity its oil-reliant economy.

  • What Maersk’s $250M logistics park means for Saudi Arabia

    Danish shipping and logistics company Maersk is building a 225,000-square-meter facility in Saudi Arabia's Red Sea-facing Jeddah Islamic Port. The company is investing $250 million in developing a key logistics hub with the Saudi Ports Authority, also known as Mawani. The facility allows for connectivity over land, sea and air. It has warehouses for e-commerce and business requirements and caters to a wide range of sectors such as fast-moving consumer goods, frozen food, automotive, retail and lifestyle, petrochemicals, electronics and pharmaceuticals. The logistics hub will also provide and first- and last-mile deliveries, as well as custom services.

  • Saudi father’s simple post on social media goes viral

    Abdulkarim Al-Kazraj, a respected author and passionate advocate for social and cultural issues, recently took to X to share a poignant moment from his family’s life. What began as a simple post to mark his daughter Laura’s first day of middle school quickly went viral, capturing the hearts of thousands and sparking meaningful conversations across the nation. Al-Kazraj’s post featured a side-by-side photo comparison of Laura on her first day of school in 2018 and her first day of middle school in 2024.

  • Here Are the People Who Lost Millions Backing Musk’s Twitter Takeover

    Elon Musk took Twitter private in 2022, but he didn’t do it alone: the deal was backed by his wealthy allies in Silicon Valley, embattled hip-hop mogul Sean “Diddy” Combs, and holding companies based in Saudi Arabia and Qatar, according to a court document ordered unsealed by federal judge on Tuesday, which were first seen by the public late Wednesday night.

  • Cease-fire deal collapse threatens to ignite Middle East conflict

    The cease-fire negotiations were among the factors apparently holding Iran back from retaliating against Israel for the bombing of Hamas leader Ismail Haniyeh in Tehran last month, along with economic troubles at home and the recent election of a more moderate Iranian president, Masoud Pezeshkian, who wants to make his country more palatable abroad.