Home GCC Saudi Arabia

Saudi Arabia

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

Electronic visa for Umrah available now

Saudi Arabia launches electronic visa processing app for Umrah pilgrims

The visit visa for Umrah will be issued now within 24 hours and applications can be submitted from outside Saudi Arabia through the app

Middle East IPOs

Middle East IPOs on track for best ever first half as oil surges

IPOs in the Middle East have fetched $11.4bn in the first five months of the year

Cuemath

Alpha Wave leads $57m funding in edtech platform Cuemath

Funds will be deployed to help Cuemath expand to over 100 countries by FY’23

Open banking

Open banking platform Tarabut Gateway partners with four banks in Saudi

Traditional financial institutions and fintechs can connect and build their own apps using Tarabut’s solutions

Agthia--800x478

UAE’s Agthia Group to invest Dhs90m into manufacturing facility in Jeddah

It is being built for Nabil, one of Agthia’s protein brands, with sales expected to commence from the new facility in H2 2023

SAUDI-ARABIA-alcohol

Saudi tourism official clarifies country’s stand on alcohol consumption

Princess Haifa Mohammed Al-Saud, the kingdom’s assistant minister of tourism, spoke on the subject at the World Economic Forum in Davos

Saudia qatar

Saudia to operate hundreds of extra flights during FIFA World Cup Qatar 2022

From November 21, the airline will operate 60 special daily flights for fans which will run from both Riyadh and Jeddah to Doha

ACWA Power

ACWA Power, OQ, and Air Products sign agreement to build green hydrogen-based ammonia facility in Oman

The facility would be powered by renewable energy and produce green energy products

courtesy NEOM twitter Saudia

Saudia, NEOM to start regular international flights from NEOM Bay Airport

Saudia will operate direct flights to select regional and international destinations, with weekly flights to Dubai set to start by the end of June

Nujuma, a Ritz-Carlton Reserve Saudi Arabia

The Middle East’s first Ritz-Carlton Reserve to be established in Saudi Arabia’s Red Sea project

Apart from the property in Saudi, there are only five other Ritz-Carlton Reserves worldwide

Saudi Arabia

Saudi Arabia to use oil windfall to boost private sector

Saudi Arabia’s posted a $15.3bn budget surplus in the first quarter

Prince Alwaleed

Saudi Arabia buys $1.5bn stake in Prince Alwaleed’s firm

The Public Investment Fund acquired a 16.9 per cent stake in Kingdom Holding Company

Saudi food delivery firm Jahez seeks to acquire rival Chefz

Jahez is the biggest locally owned food delivery group in Saudi Arabia

Oil declines as OPEC+ decision on production takes center stage

OPEC+ ministers say pumping more oil won’t ease gasoline prices

Soaring demand ahead of the peak US driving season is sending refining margins to extraordinary heights

Dubai’s GII buys 51% of Saudi Arabia’s Almeswak for $530m

Almeswak operates more than 80 centres across 20 cities in Saudi Arabia

Detasad technology

Saudi’s Detasad unveils new technology at Satellite 2022 conference

Dynamic bandwidth optimisation technology is one of the four solutions patented by the infrastructure provider in 2022

saudi coffee

Sovereign wealth fund PIF launches Saudi Coffee Company

Domestic annual Saudi coffee consumption is forecast to reach 28,700 tons by 2026

Landmarks Of The City Of Riyadh, Kingdom Of Saudi Arabia

Saudi Arabia posts $15bn surplus on soaring oil income

The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year

Saudi Aramco

Saudi Aramco’s profit soars as oil prices and production jump

Aramco’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year

Uk visa

UK to waive visa requirement for Saudi, Bahraini nationals from June 1

They will need to fill out an online visa waiver application which will be processed within 48 hours and at a cost of GBP30

SABIC

Biggest chemicals firm says cost squeeze to hit profit this year

Demand for products from plastics to paint has soared in the past year with economies recovering from the coronavirus pandemic

Saudi Aramco becomes world’s most valuable stock as Apple drops

Earlier this year, Apple boasted a market value of $3tn, about $1tn more than Aramco’s

ATM 2022: Saudia launches new B2B travel management solution

The division will have a dedicated meetings and events team that assists with corporate travel needs and event organisation worldwide

Saudi Arabia

Saudi Arabia to restart privatisation plan for 29 airports

Ownership of the 29 airports has already been moved to a new entity

Aramco

Aramco closes in on Apple as world’s most valuable firm

The rally in oil prices has boosted the world’s biggest oil company’s shares

Saudi

Saudi says low refining capacity causing fuel-price jump

Crude prices have surged to around $110 a barrel in the past year

Saudi Arabia

Saudi cuts oil prices from record highs amid China lockdowns

Saudi Arabia sends more than 60 per cent of its crude exports to Asia

Digital payment

Cashless economy: How adoption of digital payments is on the rise

E-commerce represents a significant avenue through which the adoption of digital payments can expand growth opportunities