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Report: Saudi Aramco Slows Diversification Plans Amid Lower Oil Prices, Dividend Pledge
Saudi Arabia’s state oil company Saudi Aramco is reviewing its diversification and investment plans domestically and internationally as lower oil prices and delivering on a promised dividend have put pressure on the company, according to an exclusive Wall Street Journal report.
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World Bank Pauses ‘Doing Business’ Reports as it Probes Data Collection, Review Irregularities
The World Bank will put on hold further publication of its widely-followed “Doing Business” reports after the organization said it will probe irregularities in data collection, according to Reuters.
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FTSE Russell Launches Saudi Arabian Government Bond Index
Global index provider FTSE Russell launched a bond index for Saudi Arabia to measure the performance of fixed-rate, local currency government bonds, according to reports and a statement from the FTSE.
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Lifestyle Hotel Brand Habitas to Open 3D Printed Hotel in Al-Ula
Habitas, the lifestyle hotel brand, will deliver a 100-room luxury resort in Al-Ula, Saudi Arabia that is in part 3D printed by the end of the year, joining other planned hotel groups that are emphasizing sustainability to the historic area.
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New Cases of COVID-19 Continue to Decrease in Saudi Arabia
New cases of the Coronavirus reported in Saudi Arabia continue to decline from peak points as the Kingdom sees progress in combatting the spread of the deadly virus, according to official data.
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Banyan Tree Resort Planned for Al-Ula, will Offer ‘Luxury Tented Villas’ in Area with Zero Light Pollution
Saudi Arabia’s Al-Ula will be home to Saudi Arabia’s first Banyan Tree resort, a luxury brand from Europe’s largest hotel group, Accor. The company will take over the Ashar Resort in the historic north-western city and the expanded property will offer luxury accommodation designed to complement the natural scenery of the valley, according to reports. The new resort will have […]
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More Progress on Preventing Covid-19 Spread in Kingdom as Saudi Arabia’s Cases Hit 3-month Low
In positive news that highlights the efficacy of Saudi Arabia’s measures to prevent the spread of the Coronavirus, the Kingdom continues to make significant and steady progress in reducing the number of new COVID-19 cases, with the newest figures showing cases at a three-month low.
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Will the 2020 G20 Meeting in Saudi Arabia be Virtual? Kingdom Holds Off on Final Decision for Now
Saudi Arabia’s finance minister said on Wednesday that no final decision has been made on whether the G20 leaders summit will be physical or virtual and the Kingdom is still considering the matter, according to Reuters.
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Saudi Ambassador Reema Bandar Al-Saud Nominated to International Olympic Committee
Saudi Arabia’s Princess Reema Bandar Al-Saud is among three women nominated and four total new individual members to the International Olympic Committee this week as part of an effort to increase women’s representation in sport.
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Saudi Aramco’s Share Price Bounces Back to Pre-Oil Price Fall Levels as Crude Prices Rebound
Shares in Saudi Aramco bounced back to pre-oil price war levels after gaining as much as 3.09% on Tuesday, an encouraging sign that oil demand may be gaining again and a global glut of crude is beginning to clear.
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MUST-READS
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Israel kills a top militant in its deadliest West Bank raids since the Gaza war began
Israel says the raids across the northern West Bank — which have killed a total of 16 people, nearly all militants, since late Tuesday — are aimed at preventing attacks. The Palestinians see them as a widening of the war in Gaza and an effort to perpetuate Israel’s decades-long military rule over the territory.
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How to reach Saudi Arabia’s Gen Z, a generation on the ascent
The Saudi economy is increasingly powered by consumer spending. The country’s GDP per capita, at approximately $70,000, is already above that of many Western countries, such as Germany, Australia and the U.K. And retail sales in the country are projected to be on a steady upward trajectory for the next few years. Willing to spend and optimistic about their prospects, young Saudis are up to twice as likely to opt for higher-priced brands and retailers compared to their peers in advanced economies, according to a recent McKinsey report.
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Israel, Hamas set three-day pauses in fighting for Gaza polio shots, WHO says
Israel's military and Palestinian militant group Hamas have agreed to three separate, zoned three-day pauses in fighting in Gaza to allow for the first round of vaccination of 640,000 children against polio, a senior WHO official said on Thursday. The vaccination campaign is due to start on Sunday, with the pauses scheduled to take place between 6 a.m. and 3 p.m. (0300-1200 GMT), said Rik Peeperkorn, the World Health Organization's senior official for the Palestinian territories.
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Saudi Environment Ministry launches aquaponics investment opportunity in Jubail
The Saudi Ministry of Environment, Water and Agriculture has offered a new opportunity for investors to establish a fish farm using aquaponics technology through the Furas Platform, the Saudi Press Agency reported. Through the project, the ministry aims to produce fish and plants in a total area of 40,000 sq. meters in Jubail Governorate.
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Saudi Arabia draws the line: No political agendas at hajj
Saudi Arabia announced a ban on "misuse of the annual pilgrimage of Hajj for political or sectarian purposes," stressing that no one will be allowed entry to the country for "acts that disturb public security and law and order." According to draft regulations released by the Saudi Ministry of Hajj and Umrah, pilgrims are forbidden from bringing any prohibited items, such as pictures, books, flags, slogans, political publications, or other banned materials, into Saudi Arabia, according to the Saudi Gazette.
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Have Saudis Fallen Out of Love with Top American QSR Chains?
According to Mingora’s Food Panel 2024 data of top 30 KSA QSRs, Saudi brands outnumber American by 15 to 13. Outside of the top 30, local brands dominate the SAR 66.6bn (USD 17.7bn) Saudi fast-food market. Back in 2004, only 5 or 6 Saudi chains would show up in top 30. Large Saudi chains such as Maestro Pizza, Burgerizzr, Shawarmer and Sultan Delight Burger either didn’t even exit at that time or had barely a few stores.
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Saudi Announces Hajj 2025 Guidelines Including Updated Vaccine Requirements
As per recent advisories, only those in good health and physically fit will be allowed to go on the pilgrimage. People with serious medical issues, such as kidney, heart, lung, or liver diseases, cancer, dementia, or infectious diseases like tuberculosis, won’t be able to travel.
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Saudi Arabia’s Hades Financial readies $750m for India investment
The Riyadh-based group, which manages assets worth $6.1 billion, will deploy the new funds over the next three years. About $400 million from the new allocation will flow into homegrown companies, mostly those ripe for a public flotation within three years, said Mohammed Abrar Asif, co-chief executive officer at Hades, in a recent interview with Nikkei Asia.
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Here are all the athletes representing Saudi Arabia at Paralympics Games Paris 2024
When Saudi Arabia said it was going for global domination, it wasn’t just talking about expanding its regional developments. The Kingdom also had its eyes set on shining on the international stage, particularly in sports where Saudi athletes are stepping into the limelight. With the Paralympics Games Paris 2024 in full swing, Saudi Arabia’s talented athletes are ready to compete and make history.
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Saudi Masters Snooker Championship to Start Tomorrow in Riyadh
The first edition of the Saudi Masters Snooker Championship begins tomorrow in Riyadh. Organized by the Saudi Billiards and Snooker Federation under the supervision of the Ministry of Sport, the tournament will take place at the Green Halls Sports Complex and continue until September 7. It will feature 144 players from around the world. The championship boasts the participation of global stars, led by seven-time world champion Ronnie O'Sullivan and the world's top-ranked player, Judd Trump.
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