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  • Saudi Red Sea Authority Rolls Out Innovative Training Initiatives for Luxury Coastal Tourism

    The second initiative fostered cooperation between the public and private sectors by partnering the Ministry with the Authority to identify top talent from luxury coastal resorts and tourism agencies specializing in luxury cruises. These professionals underwent an advanced training program on a European cruise ship, accredited by Plymouth University and facilitated by Dale Carnegie UK, under the supervision of Umm Al-Qura University. This program aimed to provide the trainees with essential hospitality skills, focusing on guest service excellence and managing hospitality operations on board.

  • How restaurants navigate the quiet summer in Saudi Arabia

    As summer ushers in scorching temperatures and changes in customer behaviour, restaurants in Saudi Arabia are strategically modifying their operations to stay competitive. By adjusting operating hours, refreshing menus, leveraging digital platforms, and implementing innovative marketing tactics, industry leaders are employing different strategies to attract and retain customers.

  • China Investors Pile Into Saudi ETFs as Two Nations Grow Closer

    The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on July 16 with both jumping by the daily 10% limit on their first two trading days. They were then suspended for part of July 18 after their managers notified the exchanges that the premium of their share price over their net asset value had become excessive.

  • India Saudi Arabia hold first meeting of High-Level Task Force on Investments

    India and Saudi Arabia on Sunday discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power.  They reviewed measures aimed at promoting two-way investments in a mutually beneficial manner at the first meeting of the India-Saudi Arabia High-Level Task Force on Investments, co-chaired by the Principal Secretary to the Prime Minister PK Mishra and the Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud in the virtual mode.

  • Saudi Arabia to acquire logistics, sustainment systems in US foreign military sale

    The possible sale includes follow-on logistics support and services, Joint Mission Planning Software hardware and support, KIV-77/78 cryptographic devices and support, spares and repair parts, consumables and accessories, repair and return support, calibration support and test equipment, ground and personnel equipment, classified and unclassified software and software support, classified and unclassified publications and technical documentation, personnel training and training equipment, US Government and contractor engineering, technical, and logistics support services.

  • China’s Baosteel ups investment in Saudi steel plate venture to $1B

    Baosteel, a subsidiary of the world’s largest steelmaker, China Baowu Steel Group, said in Shanghai Stock Exchange statement that it will have a 50% stake in the Saudi venture, based in the kingdom’s special economic zone Ras Al-Khair Industrial City on the northeast coast of the country. The venture will process commodities and supply construction, gas, oil and shipping industries across the Middle East and North Africa, Baosteel said in the statement.

  • Saudi Investors Acquire Crowd Analyzer to Boost Innovation and Expand Data Analysis Markets

    Abdullah Al-Tuwaijri, the official spokesperson for the investment group, commented, “Crowd Analyzer’s growth and innovation potential make it an attractive investment. The company’s innovative AI technology and focus on the Arabic language align perfectly with our vision of empowering high-growth tech companies in the region. We believe the acquisition will accelerate the company’s expansion and development of a broader range of data solutions, ultimately benefiting businesses throughout the Kingdom.”

  • First AI Center in Saudi Banking sector Introduced by Riyadh Bank

    Riyad Bank has marked a significant milestone in Saudi Arabia’s digital banking landscape with the inauguration of the Center of Intelligence, the kingdom’s pioneering artificial intelligence (AI) hub within the banking sector. This innovative initiative, unveiled on July 23, underscores the bank’s commitment to advancing operational efficiency and enhancing customer experiences through cutting-edge AI technologies. 

  • Saudi Arabia turns to Kuwait for fuel oil in rare move to meet summer demand

     Saudi Arabia imported fuel oil from Kuwait for the first time in more than two years in July to help meet peak summer power demand while discounted supplies from Russia fell, according to trade sources and shipping data. Imports of Kuwaiti high sulphur fuel oil (HSFO) exceeded 180,000 metric tons (about 37,000 barrels per day), data from shipping analytics firms Kpler and Vortexa showed, the kingdom's first fuel purchase from Kuwait since May 2022.

  • Saudi Tadawul Group Holding Company Just Beat Revenue By 6.6%

    The second-quarter results for Saudi Tadawul Group Holding Company (TADAWUL:1111) were released last week, making it a good time to revisit its performance. It was a workmanlike result, with revenues of ر.س353m coming in 6.6% ahead of expectations, and statutory earnings per share of ر.س3.25, in line with analyst appraisals. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.