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flyadeal gets 33rd aircraft delivery. the company received the aircraft at the Toulouse facility Image Supplied

Saudi low cost carrier flyadeal increases fleet size

With the addition of the latest Airbus A320neo, the carrier has increased its fleet size to 33 narrowbody jets

G7 ITALY

What’s on the G7 agenda?

The summit is due to kick off on June 13 with a discussion about Africa, climate change, and development

NEOM Capella in Elanan_Image_1

Saudi Arabia: Capella Hotels announces wellness-themed resort at NEOM

Capella’s renowned wellness experiences are tailored to individual needs and utilise lunar phases as a guiding principle

Emirates NBD and Citi partner to offer 24 7 USD cross broder payments _GettyImages-910730068-1-e1690091225134

Citi, Emirates NBD to launch round-the-clock USD cross-border payments

The service, initially available in Emirates NBD’s branches in the UAE and Saudi Arabia, aims to eliminate payment flow barriers caused by different weekend schedules

SMASCO lists on Saudi tadawul after IPO getty-Images

Saudi’s SMASCO lists on Tadawul following successful IPO

The final offer price was set at SAR7.50 per share, at the top end of the price range, raising gross proceeds of approximately SAR900m

Saudi Arabia, Qatar - GCC

Qatar-Saudi relations flourish with surge in business activity

For Qatar, a top liquefied natural gas exporter, it is a chance to strengthen ties with its Arab neighbour, as well as try to diversify its economy

Red Sea

Red Sea crisis pushing 47% crude oil, fuels around Africa

According to data provided by EIA, total US trade around the cape rose by about one-third, in the first six months of 2024

boxing PIF SAUDI

Saudi’s PIF holding talks to create billion-dollar boxing league: Reports

PIF wants to create a venture that would bring the main sport’s organisers together, in which it would take a minority stake, say reports

Brent oil price forecast Bloomberg GettyImages-1384536093

Saudi crude oil exports to China to fall for 3rd straight month in July: Reports

July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, say reports

UAE fintech firm Stake raises $14m in Series A funding

UAE fintech firm Stake secures $14m in Series A funding

The company intends to use the proceeds to expand its business into Saudi Arabia

Antony-Blinken-Israel

Antony Blinken back in the Middle East to discuss ceasefire proposal

This marks Blinken’s eighth trip to the region since the conflict erupted in October 2023

RED SEA - YEMEN COAST - MAERSK

Red Sea: Two merchant vessels targeted in Gulf of Aden

The Red Sea crisis has disrupted global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa

Saudi Arabia plans Aramco share sale as soon as June

Saudi Aramco shares trade higher after share offering

The world’s top oil exporter has been seeking to bring in international investment as it launches a range of projects as the Saudi government seeks to diversify its oil-based economy

Cathay Pacific to connect Hong Kong with Riyadh

Cathay Pacific to launch flights connecting Hong Kong with Riyadh

The new service is expected to offer more travel options while promoting business, trade and tourism opportunities

Saudi Arabia’s Q1 GDP contracts by 1.7%

Saudi Arabia’s Q1 GDP shrinks estimated 1.7% YoY

Oil activities were down 11.2 per cent in the first quarter versus the previous year, while non-oil GDP grew 3.4 per cent year on year

Aramco allocate about 60% of share sale to foreign funds

Over half of Aramco share sale allocated to foreign investors

International demand for the secondary share sale was greater than for Aramco’s IPO in 2019

Crown Prince Mohammed bin Salman joins long guest list for G7 summit

Saudi Arabia’s Crown Prince Mohammed bin Salman joins long guest list for G7 summit

The unusually long guest list reflects Italy’s desire to broaden the horizons of the G7, a club of wealthy democracies

Aramco to raise $11.2bn from stock offering

Saudi Aramco set to raise $11.2bn after selling shares at lower end of expectations

The oil behemoth’s shares were priced at $7.27 (SAR27.25), near the bottom of a SAR26.7 to SAR29 range used in marketing the sale

Cognizant

Transforming air travel: Inside Cognizant’s partnership with Riyadh Airports

Cognizant’s GM in Saudi Arabia, Tarek Zarg El Aioun, discusses the company’s strategic partnerships and digital innovations transforming the aviation sector and beyond

FMCG brands

From healthcare to food: Which are the most ‘considered’ brands in the UAE?

Almarai and Dettol top YouGov’s 2024 FMCG Rankings in the UAE, leading the food, beverage, and personal care sectors with the highest consumer consideration scores

Sinopec reportedly secures $1.1bn contract to construct gas pipelines for Aramco

Sinopec reportedly secures $1.1bn contract to construct gas pipelines for Aramco

The contract is for the procurement and construction of the third phase of the master gas system in Saudi Arabia

Saudi Arabia set to raise over $11.2bn from Aramco stock offering

Saudi Arabia set to raise over $11.2bn from Aramco stock offering

The state-owned energy firm’s bankers have told investors it plans to price the shares at $7.27 (SAR27.25) each

Saudia taps Airbus and Boeing for wide-body jets

Saudia turns to Airbus, Boeing wide-body jets amid single-aisle shortage

The state-owned group placed an order for 105 narrowbody Airbus planes last month but has a requirement for 180

moon eid al adha

Moon sighting: Eid Al Adha 2024 dates announced by Saudi Arabia

Saudi Arabia’s Supreme Court had called upon Muslims in the kingdom to sight the crescent Moon on Thursday evening

Saudi Aramco - oil minister

OPEC+ could revise oil supply deal if needed, ministers say

OPEC+ is currently cutting production by about 5.7 per cent of global demand to bolster the market

Hajj

Saudi Arabia warns of a hot Hajj this year with temperatures reaching 48 degrees C

The weather authority has implemented a comprehensive plan to monitor weather conditions around the clock across the holy sites during the Hajj

In numbers: Saudi Arabia poised for EV boom, reveals survey

In numbers: Saudi Arabia poised for EV boom, reveals survey

Saudi Arabia has significant growth potential for battery-electric vehicles, with 71 per cent of consumers “very” or “moderately” likely to purchase a BEV this year, the AlixPartners study showed

Aramco in LNG talks with US firms Tellurian, NextDecade

Saudi Aramco holding LNG talks with US firms Tellurian, NextDecade

The state-owned energy firm seeks to strengthen its position in the global LNG market, which is set to grow globally by 50 per cent by 2030

Riyadh Air partners with major Asian airlines

Riyadh Air partners with Singapore Airlines, Air China to grow network

The partnership with Singapore Airlines could see work on interline services, code shares, frequent flyer programs and cargo services

TAQA secures funding for Makkah water project

TAQA, GIC consortium secure funding for Makkah water project

The project is pivotal in addressing emergency municipal water demand in Makkah and Madinah, especially during the Hajj season