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AMAALA, the Luxury Planned Seaside Resort on Saudi Arabia’s Northwest Coast, Picks Impressive Design for International Airport
AMAALA, the ultra-luxury planned travel destination located along Saudi Arabia’s northwestern coast has unveiled plans for a new international airport, employing an impressive design “inspired by the optical illusion of a desert mirage.”
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With Demand Recovery Accelerating, Oil Markets Tick Up
Stronger consumption of oil globally pushed markets higher on Friday as countries move forward with opening back up despite concerns about the Coronavirus pandemic.
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Report: PIF to buy 2.32% stake in India’s Jio Platforms for $1.49 billion
Saudi Arabia’s Public Investment Fund (PIF) will buy a 2.32% stake in Reliance Industries’ digital unit Jio Platforms for $1.49 billion, Reuters reports.
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Second Wave: Saudi Arabia Continues Battle Against COVID-19 Spread; 3,717 New Cases Reported
Saudi Arabia announced 36 more Coronavirus deaths and 3,717 new cases of the disease on Wednesday, a significant uptick in cases as the Kingdom deals with a second wave after initial successful efforts in flattening the curve.
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SAMA Uses Blockchain for Local Deposits of Announced Funds
The Saudi Arabian Monetary Authority (SAMA) used blockchain technology to deposit part of the liquidity that SAMA had previously announced to be injected into the banking sector “as part of SAMA’s actions aimed at enhancing the sector’s capabilities to continue its role in providing credit facilities,” the organization announced.
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Jadwa Chartbook: Saudi economic data from April shows Coronavirus impact
Economic indicators for the Saudi economy in April reflected the impact of COVID-19 containment measures on the local economy, with PMI remaining in contractionary territory, Jadwa Investment said in its recently-released chartbook.
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Sports Diplomacy in the Middle East: King Faisal Center for Research and Islamic Studies to Host Live Broadcast May 19th
The King Faisal Center for Research and Islamic Studies (KFCRIS) will host a live broadcast on Tuesday, May 19th at 3:00pm Washington, D.C. time (10:00 pm in Riyadh) on Sports Diplomacy in the Middle East, featuring speakers HRH Prince Faisal bin Bandar bin Sultan, president of the Saudi Arabian Federation for Electronic and Intellectual Sports (SAFEIS). The event […]
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‘Pockets of Demand’ Seen Returning for Oil as Suppliers Curb More to Boost Price
Areas of increased demand for oil are emerging as suppliers, lead by Saudi Arabia, cut additional output in hopes of boosting crude’s price, according to reports.
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Saudi Arabia’s coronavirus cases grow to 35,000
The number of coronavirus cases in Saudi Arabia exceeded 35,000 on Friday as the kingdom struggles to get to grips with rising numbers of new infections, Reuters reports.
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Analysis: Saudi Arabia Could ‘Emerge from the Pandemic Stronger, both Economically and Geopolitically’
In an opinion piece in Foreign Policy magazine, a former advisor to President Barack Obama and professor at Columbia University says it is likely that Saudi Arabia will emerge from the Coronavirus pandemic “stronger, both economically and geopolitically” and that its bold moves in oil markets created a win for the Kingdom.
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Israeli officials say they seek to avoid all-out war in Lebanon retaliation
Israel wants to hurt Hezbollah but not drag the Middle East into all-out war, two Israeli officials said on Monday, as Lebanon braced for retaliation after a rocket strike that killed 12 children and teens in the Israeli-occupied Golan Heights. Two other Israeli officials said Israel was preparing for the possibility of a few days of fighting following Saturday's rocket strike at a sports field in a Druze village.
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Road accident deaths down 54% in Saudi Arabia
The Health Sector Transformation Program has reported a 54% decrease in the traffic accident death rate in 2023, with the rate falling to 13.6 deaths per 100,000 people, compared to 28.41 deaths per 100,000 people in 2016. The Program's report also indicated a reduction in road accident injuries, reaching 70.87 per 100,000 people, down from 74 injuries per 100,000 people in 2016. Roads that meet traffic safety standards accounted for 77%, while vehicles complying with updated periodic inspection requirements and standards accounted for 46%.
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Saudi markets receive over 29 tonnes of seasonal produce from Qatif oasis farms
The farms of Qatif Oasis are playing a crucial role in supplying fruit and vegetable markets throughout Saudi Arabia’s Eastern Province. From Al-Khafji in the north to Al-Ahsa in the south, they provide a wide variety of seasonal produce including vegetables, fruits and fresh dates. Spanning some 800 sq. km from Safwa to Dammam, Qatif governorate is home to over 3,700 farms of which 2,454 are actively producing a variety of crops, reported Saudi Press Agency.
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Jeddah waterfronts, 442 lush parks elevate Saudi summer experience
Jeddah Municipality has prepared five waterfronts and 442 parks across the city for visitors during the summer, offering high-quality leisure spots designed to the highest standards, reported SPA. Jeddah has become a popular destination for visitors from both inside and outside the Kingdom. People come to enjoy its beautiful waterfronts, parks, and various amenities, as well as to attend the Jeddah Season events, said the report citing senior officials.
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Saudi Red Sea Authority Rolls Out Innovative Training Initiatives for Luxury Coastal Tourism
The second initiative fostered cooperation between the public and private sectors by partnering the Ministry with the Authority to identify top talent from luxury coastal resorts and tourism agencies specializing in luxury cruises. These professionals underwent an advanced training program on a European cruise ship, accredited by Plymouth University and facilitated by Dale Carnegie UK, under the supervision of Umm Al-Qura University. This program aimed to provide the trainees with essential hospitality skills, focusing on guest service excellence and managing hospitality operations on board.
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How restaurants navigate the quiet summer in Saudi Arabia
As summer ushers in scorching temperatures and changes in customer behaviour, restaurants in Saudi Arabia are strategically modifying their operations to stay competitive. By adjusting operating hours, refreshing menus, leveraging digital platforms, and implementing innovative marketing tactics, industry leaders are employing different strategies to attract and retain customers.
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China Investors Pile Into Saudi ETFs as Two Nations Grow Closer
The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on July 16 with both jumping by the daily 10% limit on their first two trading days. They were then suspended for part of July 18 after their managers notified the exchanges that the premium of their share price over their net asset value had become excessive.
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India Saudi Arabia hold first meeting of High-Level Task Force on Investments
India and Saudi Arabia on Sunday discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power. They reviewed measures aimed at promoting two-way investments in a mutually beneficial manner at the first meeting of the India-Saudi Arabia High-Level Task Force on Investments, co-chaired by the Principal Secretary to the Prime Minister PK Mishra and the Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud in the virtual mode.
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Saudi Arabia to acquire logistics, sustainment systems in US foreign military sale
The possible sale includes follow-on logistics support and services, Joint Mission Planning Software hardware and support, KIV-77/78 cryptographic devices and support, spares and repair parts, consumables and accessories, repair and return support, calibration support and test equipment, ground and personnel equipment, classified and unclassified software and software support, classified and unclassified publications and technical documentation, personnel training and training equipment, US Government and contractor engineering, technical, and logistics support services.
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China’s Baosteel ups investment in Saudi steel plate venture to $1B
Baosteel, a subsidiary of the world’s largest steelmaker, China Baowu Steel Group, said in Shanghai Stock Exchange statement that it will have a 50% stake in the Saudi venture, based in the kingdom’s special economic zone Ras Al-Khair Industrial City on the northeast coast of the country. The venture will process commodities and supply construction, gas, oil and shipping industries across the Middle East and North Africa, Baosteel said in the statement.
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