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Saudi Oil Exports Jump 106% Year-on-Year to Over $30 Billion in May 2022; US Sees Room for More Saudi, UAE Production
Saudi Arabia’s oil exports jumped 106 percent, reaching SR116 billion ($30 billion) during the month of May 2022 while compared to the same period last year, according to the latest report published by the General Authority for Statistics (GASTAT), released on Monday.
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Report: Saudi Arabia Plans Air Cargo Roadshows to Boost Distribution, Logistics Sector
Saudi Arabia plans to stage a number of roadshows in the next 12 to 18 months “as it seeks to persuade the likes of Amazon.com Inc., Alibaba Group Holding Ltd. and Deutsche Post AG’s DHL to help scale up air-cargo and distribution operations,” Bloomberg reports.
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Saudi Arabia’s King Salman Allocates $5.3 Billion in Inflation Relief Aid
Saudi King Salman bin Abdulaziz Al Saud issued a royal decree this week ordering the allocation of SR20 billion ($5.33 billion) in financial support to tackle the effects of the rising global prices and inflation.
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United Nations Recognizes Saudi Arabia’s Tawakkalna App with Public Service Award for 2022
Saudi Arabia’s game-changing Tawakkalna app has been awarded the United Nations Public Service Award 2022 for institutional resilience and innovative responses to the COVID-19 pandemic, Arab News and the Saudi Press Agency reported. The award was given to Dr. Abdullah bin Sharaf Alghamdi, President of the Saudi Data and AI Authority (SDAIA), at an annual forum that recognizes distinguished […]
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New Report Places Saudi Arabia at Seventh Most Competitive Economy Among G20 Countries
A new report published by the Switzerland-based International Institute for Management Development (IMD) said that Saudi Arabia ranked as the seventh most competitive economy among G20 countries in the organization’s publication, the World Competitiveness Yearbook 2022.
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A conversation with Mark Thompson and Neil Quilliam on their new book on Saudi Arabia, reacting to the latest with LIV Golf, and more
In episode 47, the hosts welcome on Dr. Mark Thompson and Dr. Neil Quilliam, authors of a new book on Saudi Arabia’s governance and policymaking, for a fascinating discussion on how decision-making is changing and evolving at all levels in Saudi Arabia as Vision 2030 continues apace.
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President Biden Praises ‘Courageous Leadership’ in Saudi Arabia over Yemen Truce; Plans June Visit
President Joe Biden praised Saudi Arabia’s “courageous leadership” on brokering and then leading the way to extend a U.N.-brokered ceasefire on Thursday between Yemen’s warring parties, according to reports. The comments come as President Biden reportedly is likely to visit the Kingdom this month.
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Saudi Arabia Begins Construction on Lucid Motors Plant; Three to be Built in Kingdom
Workers have already broken ground on the future site of a Lucid motors plant in Saudi Arabia, Khalid al-Falih said during a panel at the World Economic Forum meeting in Davos this week.
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Total Saudi Government Revenue in Q1 2022 Up 36%, with Oil Revenue Up 58% – Jadwa Investment
Jadwa Investment’s recently-released report on the Saudi economy highlights the strong economic situation the Kingdom is in through the start of 2022, as higher oil prices and a growing non-oil sector continue to power growth in the Arab world’s largest economy.
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New Rules Build on Saudi Efforts to Eliminate Use of Islamic Charities for Extremist Funding
New rules from the Saudi government have been put in place to make it harder for charities in Saudi Arabia to become donators to extremists causes both inside and outside of the Kingdom, according to a report. The Saudi Public Prosecution has banned the establishment of private websites to collect donations for charitable work outside the kingdom, in […]
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In pictures: Israelis protest to demand Gaza hostage deal
Israeli protesters took to the streets for a second day on Monday to press the government to reach a deal to return hostages still held by Hamas, after six more captives were found dead in Gaza.
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Saudi Arabia strengthens cooperation with Japanese gaming and entertainment companies
The economic newspaper Nikkei Asia reported that the Kingdom’s Public Investment Fund plans to transfer all of its gaming-related shares to its subsidiary Savvy Games Group. The move underscores Saudi Arabia’s commitment to nurturing and developing the gaming industry in the region. By partnering with Japanese companies known for their expertise and innovation in the gaming sector, Saudi Arabia aims to build a strong ecosystem that fosters creativity and technological advancement.
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UK suspends 30 of its 350 arms export licences to Israel
Britain will immediately suspend 30 of its 350 arms export licences with Israel because there was a risk such equipment might be used to commit serious violations of international humanitarian law, foreign minister David Lammy said on Monday. Lammy said the decision to suspend the licences did not amount to a blanket ban or an arms embargo, but only involved those that could be used in the ongoing conflict between Israel and Hamas in the Palestinian enclave of Gaza.
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Oman announces major changes to foreign investment rules
The move offers opportunities for SMEs owned by Omanis to contest most business sectors, the decision lays emphasis on ensuring that the projects and activities related to the national identity and Omani heritage shall not be compromised.
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IEA to convene major international energy security summit in London, hosted by UK government
The IEA will convene an International Summit on the Future of Energy Security in the second quarter of 2025, hosted by the UK government in London, to assess the existing and future risks facing the global energy system and to prioritise the solutions and opportunities available for addressing them.
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Oil prices fall as weak demand overshadows Libya blockade
Brent oil prices slid in Asian trade on Tuesday as concern about a sluggish economy in China bringing down demand outweighed the impact of a blockade of oil production facilities in Libya. Brent crude futures were down 37 cents, or 0.48%, to $77.15 a barrel by 0156 GMT. U.S. West Texas Intermediate crude , which did not have a Monday settlement because of the U.S. Labour Day holiday, was 28 cents up from its Friday close of $73.55.
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US military says Yemen’s Houthis attacked two crude oil tankers in Red Sea
Yemen's Iran-backed Houthi rebels attacked two crude oil tankers - the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I - in the Red Sea on Monday, the U.S. military said, calling the assaults "reckless acts of terrorism". The Houthis late on Monday claimed responsibility for targeting the Blue Lagoon with multiple missiles and drones but did not make any mention of the Saudi tanker. The U.S. Central Command said the Houthis attacked the two tankers with two ballistic missiles and a one-way attack uncrewed aerial system, hitting both vessels.
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Stars gear up for Saudi Arabia Masters – all you need to know
The inaugural event which has been given the unofficial title of being the sport’s ‘fourth major’ by organisers, is the biggest ever staged outside the UK in the sport’s history, with a £2.3m prize fund and £500,000 winner’s cheque available - equal to the amount on offer at the Crucible in Sheffield.
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International Saudi Falcons and Hunting Exhibition to Welcome Visitors in October
The Saudi Falcons Club will organize the International Saudi Falcons and Hunting Exhibition from October 3 to 12 at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, an event expected to draw over 400 exhibitors from 45 countries. This year's exhibition will be held on an impressive 60,000 square meters; it is designed to cater to visitors of all ages.
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Saudi Fund for Development Celebrates 50 Years of Global Impact with Over $20 Billion in Development Contributions
The Saudi Fund for Development (SFD) celebrated its 50th anniversary in Riyadh today, under the theme "50 Years of Global Impact." The event brought together key development partners to reflect on the SFD’s significant contributions to sustainable development worldwide. Over the past five decades, the SFD has allocated over $20 billion, financing more than 800 development projects and programs in vital sectors, including social infrastructure (education, healthcare, water and sewage, and housing and urban development), communication and transportation (roads, railways, airports and seaports), energy, agriculture, mining and industry, and others.
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