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  • Saudi ports nears 700,000 TEU mark in October

    The ports moved a total of 694,517 TEU in October, boosted by15.33 per cent from last year’s 602,210 TEU. The Saudi Ports Authority (MAWANI) reported a 17.75 per cent rise in exported boxes at 202,030 TEU in comparison to 171,579 TEU in 2021. Record growth was also registered during Q3 of this year, as MAWANI handled 1.98 million TEU compared to 1.79 TEU during the same period in 2021.

  • Top European and Russian bosses take up jobs in GCC as recession, war, bites

    “Hiring at leadership levels has seen a record high in 2022 year till date. We have witnessed a 32 percent growth over CXO level hiring as against the same period in 2021,” Amarjeet Dutta, Partner at global leadership search and consultancy EMA Partners Middle East, told Arabian Business. “The global economic slowdown, coupled with the war situation in the CIS region, has led to significant import of high quality talent into the GCC from these regions,” Dutta said.

  • Top European and Russian bosses take up jobs in GCC as recession, war, bites

    “GCC is emerging as one of the best places to be [for corporate leaders] in the current uncertain economic climate. High oil prices, favorable policy making for new sectors and public sector spending has boosted the local environment, while also steadily attracting international companies to set up bases,” Sandeep Ganediwalla, Dubai-based managing partner at RedSeer Strategic Consultants, a global consultancy for digital services, told Arabian Business.

  • Masdar: UAE’s Biggest Clean-Energy Firm to Look at Deals in US, Europe

    Masdar, based in Abu Dhabi, is leading a consortium that will build a 10-gigawatt wind plant in Egypt. Al Ramahi said the $11 billion project will start to produce power in around five years. It will be up to the Egyptian government to decide if the electricity is exported or only used locally, he said.

  • Saudi Ports nears 2 million TEU mark in Q3 2022

    The Saudi Ports Authority (MAWANI) has handled 1.98 million TEU compared to 1.79 TEU in 2021. Statistical data for Q3 reveal a 11.56 per cent rise in cargo throughput, hitting a total of 82.5 million tons this year in contrast to 74 million tons last year. 3,084 vessels dropped anchor at Saudi ports, a marginal 1.58 per cent increase from last year’s count of 3,036 vessels.

  • Both Sides Lose in the U.S.-Saudi Feud

    Silence is golden. Said to be an old Arab proverb, this is good advice to both the U.S. and Saudi governments if they are to preserve any possibility of salvaging a security relationship more important now than when it began eight decades ago. The West is invested in the war in Ukraine and could easily become embroiled in new hot conflicts with China and Iran before President Biden’s term ends. Oil prices in the U.S. are roughly $90 a barrel and could double if Russia decides to stop pumping oil or if Europe carries out its threat to ban imports of Russian crude by sea after Dec. 5.

  • Energy crisis chips away at Europe’s industrial might

    Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering - demand for natural gas and electricity both fell in the past quarter. It is far too early to rejoice, though. The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen.

  • Organizers unveil lineup for Saudi Arabia’s Red Sea Film Festival in Jeddah

    The festival will feature 131 films and shorts from 61 countries in 41 languages from both established and emerging talent. Local talent will be on display, with seven new Saudi features and 18 Saudi short films to be presented. The festival will also host 34 world premieres, 17 Arab premieres, and 47 Middle East and North Africa (MENA) premieres.

  • Organizers unveil lineup for Saudi Arabia’s Red Sea Film Festival in Jeddah

    Indian director Shekhar Kapur’s ‘What’s Love Got to Do with It?’ will be screened for the opening night gala of the festival, which runs from December 1 to 10. Closing the festival will be Valley Road, directed by award-winning Saudi writer and director Khaled Fahd and starring Hamad Farhan, Naif Khalaf, and Aseel Omran. The festival will feature 131 films and shorts from 61 countries in 41 languages from both established and emerging talent.

  • Opinion: US-Saudi Oil Feud Depends on Midterms, OPEC+, Xi Jinping

    While the White House promised outraged congressional Democrats it would “reassess” relations and impose “consequences” on Saudi Arabia, no major or irreversible actions have been taken. A meeting of the US-Gulf Arab working group on Iran has been postponed, and no Biden administration officials attended last week’s Future Investment Initiative conference in Riyadh (although many leading US financial companies were represented at the highest levels). So far, that’s about it.