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  • Faisal Shaker and MFC named best F&B Entrepreneur and Company in Saudi Arabia

    Clinching F&B Entrepreneur and F&B Company of the Year awards at Caterer Saudi Awards 2024 was entrepreneur, restaurateur, co-founder and CEO of MFC, Faisal Shaker. He and his firm took home two of the biggest awards from night, as well as Breakthrough Restaurant of the Year for Robata and Saudi F&B Brand for the Year for Myazu.

  • Conflict in the Middle East is affecting a key energy lifeline for Europe. How big is the risk?

    Europe relied for decades on gas transported through pipelines from Russia. That came to an abrupt end after Russia invaded Ukraine and cut off most of its supply. LNG became a lifeline, with the German government, for example, hastily lining up floating import terminals on its northern coast. Last year, 12.9% of Europe’s LNG went through the Red Sea from suppliers in the Middle East, mainly Qatar. That means “an extended shut-in of the Red Sea route from the Middle East poses a supply risk to Europe,” said Kaushal Ramesh, vice president at Rystad Energy.

  • AlUla Arts Festival turns Saudi Arabia’s ancient city into open-air, living museum

    The AlUla Arts Festival will transform Saudi Arabia’s ancient city into a place of creative inspiration and cultural exchange, turning it into an open-air living museum, AlUla Moments announced. Running from February 9 to 24, the multi-form arts festival returns for the third time with a program that features flagship events, immersive exhibitions, and creative initiatives for a city-wide celebration of all things art.

  • Jabeur Backs Saudi Arabia After Criticism From Tennis Greats

    Tunisian tennis star Ons Jabeur on Saturday threw her support behind the potential staging of the WTA Finals in Saudi Arabia, urging critics to be "more informed" on the Kingdom's interest in the sport. Jabeur, a three-time Grand Slam finalist and former world number two, said she was impressed by the response of Princess Reema bint Bandar Al Saud, Saudi Arabia's ambassador to the United States, to criticism from Martina Navratilova and Chris Evert of the WTA's possible deal with the Kingdom.

  • Global economy outlook at odds with aggressive rate cut bets – Reuters poll

    Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a Reuters poll of economists, a stable outlook at odds with still-relatively aggressive interest rate cut bets in financial markets.
    Growth among leading economies is not forecast to be consistent, with relative strength in the United States and India, and sluggishness expected from the euro zone, as well as No. 2 economy China.

  • French Rafale ‘Dogfights’ Eurofighter Typhoon For Lucrative Saudi Fighter Contract

    The Dassault Rafale is a twin-engine multi-role aircraft that can carry out air-to-air combat or can drop bombs on targets in air-to-ground missions, and owing to its cameras, radars, and sensors, can be used for intelligence gathering. The French fighter jet has already been deployed in Afghanistan, Libya, Iraq, Syria, and Mali, where it flew its most extended mission in 2013, spanning nine hours and 35 minutes.

  • Aramco awards $3.3bn gas facility contracts to Sinopec and Tecnicas Reunidas

    Aramco has awarded contracts worth more than $3.3 billion to Chinese company Sinopec and Spain’s Tecnicas Reunidas to build a gas facility in Saudi Arabia. According to a disclosure on the Spanish Stock Exchange, Sinopec will own 65 percent of the project and Tecnicas Reunidas will have a 35 percent share. The contract includes the development of a new facility in Saudi Arabia called Riyas natural gas liquids at the Jafurah unconventional gas production project.

  • Mourinho rejects Saudi move, weighs European offers

    José Mourinho has rejected an offer from Saudi Pro League club Al Shabab to become their new manager, a source has told ESPN. Domenico Tite, the club's sporting director, had talks with Jorge Mendes, Mourinho's agent, as soon as the Portuguese was sacked by AS Roma last week.

  • Saudi non-oil economy grew 20% after 2016, outpacing EU and US, says Al Ibrahim

    Faisal Al Ibrahim, Minister of Economy and Planning, said at the World Economic Forum 2024 that Saudi Arabia's non-oil economy has grown by 20% since 2016, surpassing the growth rates of the European Union and the United States, which stood at 10% and 14%, respectively.

    During a panel session titled 'MENA’s Economic Dilemma: Reforms Amid Uncertainty' held on Thursday, Al Ibrahim highlighted the significant strides made by the Kingdom in bolstering its non-oil economy. This growth trajectory positions Saudi Arabia as a leading example of economic resilience and diversification in the Middle East.

  • Davos 2024: Saudi Arabia to Sell More Eurobonds ‘As Opportunities Arise’

    Saudi Arabia plans to sell more bonds after issuing $12 billion this month, according to its finance minister. “We need to manage our liabilities not only for this year, but for the years to come,” Mohammed Al-Jadaan told Bloomberg Television at the World Economic Forum’s annual meeting in Davos, Switzerland. “We will tap the markets as opportunities arise.”