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  • Riyadh airport breaks passenger traffic record, with 130,000 passengers in a single day

    King Khalid International Airport (KKIA) in Riyadh broke its highest-ever passenger traffic record at the end of July and beginning of August 2024. The KKIA, managed and operated by Riyadh Airports Company (RAC), announced in a press release on Thursday that the airport reported handling 3.5 million passengers in July 2024, surpassing the previous record of 3.1 million passengers set in June—an increase of 400,000 passengers. According to the release, the airport set a new single-day record on Thursday, August 1, 2024, with 130,000 passengers, surpassing the previous highs of 125,000 on July 25 and 124,000 on June 13. In July, the airport achieved a seat occupancy rate of 91 percent, demonstrating its high operational efficiency.

  • No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy

    The fund’s investments in domestic infrastructure and real estate development grew 15% year-on-year to 233 billion riyals, while its foreign investments increased 14% to 586 billion riyals. At the same time, the Saudi government introduced laws and reforms to facilitate and even mandate investment in the country as it builds out its Vision 2030 plan to diversity its oil-reliant economy.

  • What Maersk’s $250M logistics park means for Saudi Arabia

    Danish shipping and logistics company Maersk is building a 225,000-square-meter facility in Saudi Arabia's Red Sea-facing Jeddah Islamic Port. The company is investing $250 million in developing a key logistics hub with the Saudi Ports Authority, also known as Mawani. The facility allows for connectivity over land, sea and air. It has warehouses for e-commerce and business requirements and caters to a wide range of sectors such as fast-moving consumer goods, frozen food, automotive, retail and lifestyle, petrochemicals, electronics and pharmaceuticals. The logistics hub will also provide and first- and last-mile deliveries, as well as custom services.

  • Saudi father’s simple post on social media goes viral

    Abdulkarim Al-Kazraj, a respected author and passionate advocate for social and cultural issues, recently took to X to share a poignant moment from his family’s life. What began as a simple post to mark his daughter Laura’s first day of middle school quickly went viral, capturing the hearts of thousands and sparking meaningful conversations across the nation. Al-Kazraj’s post featured a side-by-side photo comparison of Laura on her first day of school in 2018 and her first day of middle school in 2024.

  • Here Are the People Who Lost Millions Backing Musk’s Twitter Takeover

    Elon Musk took Twitter private in 2022, but he didn’t do it alone: the deal was backed by his wealthy allies in Silicon Valley, embattled hip-hop mogul Sean “Diddy” Combs, and holding companies based in Saudi Arabia and Qatar, according to a court document ordered unsealed by federal judge on Tuesday, which were first seen by the public late Wednesday night.

  • Cease-fire deal collapse threatens to ignite Middle East conflict

    The cease-fire negotiations were among the factors apparently holding Iran back from retaliating against Israel for the bombing of Hamas leader Ismail Haniyeh in Tehran last month, along with economic troubles at home and the recent election of a more moderate Iranian president, Masoud Pezeshkian, who wants to make his country more palatable abroad.

  • Why Iran and Hezbollah have not yet responded to Israel’s assassinations

    US and Arab officials believe if a ceasefire is reached it would lower regional tensions, giving Iran and its allies space to back down from their vows to avenge a pair of Israeli assassinations that have pushed the region to the brink. Hezbollah and Iran both pledged to retaliate for the killings of Hamas leader Ismail Haniyeh in Tehran and senior Hezbollah military commander Fuad Shukr in Beirut. But with ceasefire talks flailing and more than three weeks having passed since the killings, some wonder if Iran will respond at all.

  • Saudi World Cup bid bucks global trend for sporting events

    While other events at the games were held at existing venues, the swimming was the best example of how the Olympics has shifted from being an expensive construction endeavour to a more sustainable event that relies on a city’s existing infrastructure. Football’s Fifa World Cup is edging the same way with its requirement for countries bidding to host the event to use four existing stadiums.

  • Saudi Arabia crude oil exports drop in June

    The Organization of the Petroleum Exporting Countries (OPEC) is set to begin unwinding a level of production cuts of 2.2 million barrels per day from October. Earlier this month OPEC lowered its demand growth outlook for the first time in a year, citing softer expectations for China. Meanwhile, China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July.

  • Saudi Arabia’s series of law changes eases entry for investment and companies

    Two important laws that came out in the past week include an update to the new investment law which puts Saudi and non-Saudi investors on an equal footing and the amendments to the labour law that are expected to benefit employees and employers and enhance their relationship. As part of the law, there will no longer be a system of getting a foreign investment licence, instead, there will be an investment register that's operated by the Ministry of Investment.