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  • How 3 Schengen-style visas planned in GCC, Asia and Africa could change tourism forever

    The Schengen visa has transformed tourism for holidaymakers across the world looking for hassle-free travel to Europe. A single document offering unrestricted access to 29 countries, it delivers a major economic boost for member countries and a major timesaver for travelers themselves. So transformative is the Schengen visa, in fact, that countries around the world are looking to partner up to form trading and diplomatic blocs with mutually beneficial tourism benefits.

  • Israeli forces deepen Rafah invasion, kill 17 in central camps

     Israeli airstrikes on Tuesday killed at least 17 Palestinians in two of the Gaza Strip's historic refugee camps and Israeli tanks pushed deeper into the enclave's southern city of Rafah, residents and medics said.
    Residents reported heavy bombardments from tanks and planes in several areas of Rafah, where more than a million people had taken refuge before May. Most of the population has fled northwards since then as Israeli forces invaded the city.

  • EV startup Fisker files for bankruptcy, aims to sell assets

    U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday, looking to sell its assets and restructure its debt, after succumbing to rapid cash burn to deliver its "Ocean" SUVs in the United States and Europe.
    EV makers such as Proterra, Lordstown and Electric Last Mile Solutions have also gone bankrupt in the past two years due to depleting cash reserves, fundraising hurdles and challenges in ramping up production due to global supply chain issues. Fisker's cars were also under investigation by U.S. regulators.

  • Solar power is now bigger than oil — for the first time ever

    Using a conservative production metric, the panels produced by Tongwei in 2024 will contribute around 27 exajoules of electricity to the grid, while the oil and gas pulled out of the ground by Exxon this year will account for a mere six exajoules. In fact, all seven of the biggest petroleum producers combined will contribute less energy from their products this year than just Tongwei’s long-tail solar production.

  • More fish were farmed than caught for the first time ever

    Last week, the FAO released its annual report on the state of aquaculture — which refers to the farming of both seafood and aquatic plants — and fisheries around the world. The organization found that global production from both aquaculture and fisheries reached a new high — 223.3 million metric tons of animals and plants — in 2022. Of that, 185.4 million metric tons were aquatic animals, and 37.8 million metric tons were algae. Aquaculture was responsible for 51 percent of aquatic animal production in 2022, or 94.4 metric tons.

  • Saudi Arabia advances to 16th place in World Competitiveness 2024

    Saudi Arabia advanced to the 16th place in the IMD World Competitiveness Ranking 2024, issued by the World Competitiveness Center of the International Institute for Management Development (IMD). According to the report, the Kingdom ranked fourth among the G20 countries, supported by improved business legislation and infrastructure. Thus, the Kingdom achieved an advanced position for the third straight year, compared with the 17th in 2023 and 24th in 2022.

  • Rainfall relieves Muslim pilgrims marking final days of Hajj in extreme heat

    Rainfall above Mecca on Monday relieved Muslim pilgrims, who used the early morning hours to perform the second day of the symbolic stoning of the devil, as noontime summer heat caused heatstroke among thousands wrapping up the Hajj pilgrimage. The final days of the Hajj coincide with Muslims around the world celebrating the Eid al-Adha holiday.

  • World’s Largest Airport Under Construction in Saudi Arabia

    A masterplan for the airport was unveiled by the country's sovereign wealth fund, the PIF, in November 2022. Built on the site on the existing King Khalid airport, Riyadh, the new airport will cover an area of around 34 square miles, comprising six parallel runways, residential and recreational facilities, as well as retail outlets.

  • Saudi Arabia Crude Exports Fall to 6 Million Barrels Per Day in April

    Saudi Arabia's crude oil exports fell to 6 million barrels per day from 6.413 million bpd in March, data from the Joint Organizations Data Initiative (JODI) showed on Monday. The decline in Saudi exports comes in line with the OPEC+ agreement to cut production, in order to maintain market stability. OPEC+ has implemented a series of output cuts since late 2022 to support the market amid rising output from the United States and other non-member producers and worries over demand as major economies grapple with high interest rates.

  • Saudi crown prince renews call for immediate halt to attacks in Gaza at annual Hajj reception

    “We urge an immediate halt to this attack, and that the international community take all the measures needed to ensure the protection of lives in Gaza. We also ask that the recent resolutions issued by the UN Security Council regarding an immediate ceasefire in Gaza Strip be heeded,” the crown prince said at the annual reception for officials and dignitaries who were performing Hajj this year.