In an exclusive interview with CGTN, the Saudi Minister of Tourism said that Saudi Arabia will further boost its tourism sector to attract more Chinese tourists to visit, of which he added that the Chinese market is extremely important. He also noted that the Kingdom aims to attract 3 to 4 million Chinese tourists a annually.
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Saudi Arabia will see 1.2 million barrels per day of new refining capacity by 2020
According to a recently released research note by Jadwa Investment, Saudi Arabia will see an increase of 1.2 MBPD of new refining capacity by 2020 representing a “major investment in downstream sector.” Jadwa’s Head of Research, Dr. Fahad Alturki notes: “Saudi Arabia will see 1.2 million barrels per day (mbpd) of new refining capacity come […]
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PHOTOS: Wild Weather Strikes Across Saudi Arabia as Rain, Floods Cause Damage and School Closings
The rain season began in several provinces of Saudi Arabia this past weekend with rain and floods reported in Mecca, Jeddah, and Hail provinces. Photos provided by the SPA show hail and rain storms caused flooding and damage in Taif and Mecca while Jeddah experienced thunderstorms. Director of Civil Defense in Taif Saleh Mansi Al-Harthi has […]
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Iraq’s President in Saudi Arabia Latest Evidence of Improved Relations
Iraq’s President Fuad Masum visited Saudi Arabia’s King Abdullah in Riyadh last night, the latest evidence of a thaw in diplomatic relations between the two countries. “The Iraqi president expressed his happiness to visit the kingdom and meet with his brother the king,” according to the SPA. The meeting was the highest level meeting of officials between […]
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Trading Begins Tomorrow on NCB’s ‘Steeply’ Discounted IPO as the Government Eyes Financial Sector Reforms
Trading is set to begin tomorrow on steeply discounted shares of Saudi Arabia’s National Commercial Bank as Saudi Arabia’s capital market regulator will introduce rules for credit rating agencies next September, according to reports. Matthew Martin and Sarmad Khan of Bloomberg quote Asim Bukhtiar, a vice president and head of research at Riyad Capital, as saying […]
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AP Reports Women May Be Moving Closer to Driving Rights, But Report Immediately Denied
The Associated Press reported this weekend that an unnamed Saudi Shoura member confirmed its body had “recommended that the government lift its ban on female drivers,” a report that a government official quickly denied after it surfaced. As the AP reports, “The council member said the Shura Council made the recommendations in a secret, closed session […]
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Saudi Officials Visit Wounded from Al-Ahsa Terror Strike as Security Agencies Expand Activities
The clampdown on extremism broadened on Friday as Saudi Arabia’s security forces have arrested another 8 people in Monday’s terrorist attack in a Shiite village in Saudi Arabia’s Eastern Province, according to media reports, including two police officers. The raids were conducted simultaneously across the country, including in Riyadh, Qassim and the Eastern Province, Arab News reported […]
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Energy Subsidies in the Gulf a Staggering $160 billion Annually, World Bank Says
Gulf states are spending an average of 10% of GDP on energy subsidies each year, a total of $160 billion, an IMF official said according to Arab News. “The GCC and other MENA states must start cutting energy subsidies now otherwise problems associated with them will get worse,” said Shantayanan Devarajan, chief economist for the World Bank in Middle […]
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First Global Entrepreneurship Forum Kicks off in Riyadh, Saudi Arabia as Kingdom Eyes SME Growth
The first Global Business Entrepreneurship Forum (GEF) was held in Riyadh, Saudi Arabia today to bring together top business and startup leaders to the Ritz Carlton Hotel near the Diplomatic Quarter in the Saudi capital. Organized by the Centennial Fund, the GEF’s first event in Riyadh was a chance for entrepreneurs and others in the […]
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Al-Jubeir: ‘Every Time the U.S. and Saudi Arabia Have Come Together, We have Done Wonders for the Region’
In his luncheon keynote remarks to the National Council on US-Arab Relation’s annual policymaker’s forum in Washington, D.C., Saudi Arabia’s Ambassador to the United States Adel al-Jubeir discussed the historical and current status of the Saudi-U.S. relationship and it’s track record of success when facing regional and global challenges. Full video of his remarks can […]
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At Policymakers Event, Prince Turki al-Faisal Takes Aim at Allegations of Saudi Support of Terror
Saudi Arabia’s Prince Turki al-Faisal, Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to the United States of America, delivered sharp criticism of those who put forth unsupported allegations of Saudi financing of extremism abroad, urging them to come forward with […]
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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.
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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.
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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.
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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.
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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.
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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.
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Pilgrims ‘stone the devil’ in early hours to beat the blazing heat
Muslim pilgrims took part in the symbolic stoning of the devil on Monday in the final ritual of the Hajj, with many doing so in the early hours of the morning to escape the worst of the blazing summer heat. Temperatures hit 48C by 2pm in Makkah and the holy sites in and around the city, the Saudi National Center for Metrology said. “Of course, it is something very hard and tiring. The temperature is abnormal compared to the past years and this affects us a lot,” said Ahmed Al-Baradie, from Egypt.
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Davis Cup – Thailand, Saudi Arabia and Syria seal promotion from Asia/Oceania III
Thailand, Saudi Arabia and Syria clinched the three promotion spots available from the Asia/Oceania Group III event contested at the Jordan Tennis Federation in Amman last week. Thailand, who finished top of the event, defeated Saudi Arabia in the 1st and 2nd place play-off, while Syria overcame Vietnam 2-1 in a close-fought 3rd and 4th place play-off.
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MBS urges international community to recognize independent Palestinian state
Saudi Arabia’s Crown Prince Mohammed bin Salman called on the international community on Monday to recognize an independent Palestinian state, emphasizing that this step is crucial for achieving peace. “The Kingdom renews its call to the international community to recognize the independent State of Palestine, on the 1967 borders, with East Jerusalem as its capital. This will enable the brotherly Palestinian people to obtain their legitimate rights” and pave the way for “comprehensive, just, and lasting peace,” state news agency SPA quoted the Crown Prince as saying.
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Saudi Arabia Seeks More Chinese Tourists, Says Saudi Minister Of Tourism
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