The energy firm declared dividends of $31.1bn for the second quarter, including $10.8bn in performance-linked payouts
The deal comes just ahead of Lucid’s planned production of its much-awaited Gravity SUV later this year
Brent crude oil futures inched down 4 cents, or 0.1 per cent, to $76.77 a barrel
The government is considering helping pay off dues to banks, lending to the firm, and even potentially increasing its stake
Blinken has spoken to his counterparts in Saudi Arabia, the UAE and Qatar as tensions have ratched up in the region, in recent days
The kingdom’s capital city Riyadh will host eight stadiums, including the new King Salman Stadium, which will accommodate over 92,000 spectators
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said OPEC+ could pause or reverse the production hikes if it decided the market is not strong enough
The company said its long-term focus would remain on “strategic portfolio optimisation” and restructuring underperforming assets
24 Fintech is closely aligned with Saudi Arabia’s Vision 2030 which positions the industry as a crucial element in achieving economic transformation
PIF signed the MoUs with key Chinese financial institutions, including the Agricultural Bank of China and Bank of China
Oil has fallen from a 2024 high, above $92 a barrel in April to trade around $81, on July 30
RPM CEO Dr Rohil Raghavan shares how the medical services provider continues to enhance the quality of healthcare services in the UAE, Saudi Arabia and beyond
The kingdom’s total public debt stood at SAR1.149tn at the end of June, up from SAR1.05tn at the end of last year
The kingdom’s GDP decreased by 1.7 per cent in Q1 2024, as cuts to oil production have continued to weigh on the country’s economy.
In addition to international sporting events, the new stadium will host other entertainment, cultural, and social events
The listing will become active three months after the first warehouse company has been approved in the new location
The kingdom is working to secure access to lithium and other minerals as part of its goal to turn itself into a hub for battery and EV manufacturing
The talks, if successful, would create one of the world’s largest free trade areas worth $2.4tn
Covering more than 660,000 square meters, the stadium will serve as the home ground for Saudi Arabia’s national soccer team
The agreement mandates the digitalisation of customs documents and processes, the recognition of electronic documents and signatures, and legal safeguards against online fraud
In H1 2024, the company achieved a 6 per cent YoY growth in revenues to SAR5.03bn
For the week, Brent was trading down more than 1 per cent while WTI fell beyond 3 per cent
Investors from the Middle East bring cash and expertise to such projects
The steel manufacturing facility has an annual production capacity of 2.5 million tonnes of direct reduced iron and nearly 1.7 million tonnes of steel
The expansion of flynas’ fleet is expected to boost the airline’s capacity and range while enhancing its overall fleet capabilities
The “billionaire tax” would be aimed at the world’s richest individuals such as Tesla owner Elon Musk
The Suez Canal, is a key source of foreign currency for Egypt, and authorities have been trying to boost its revenues in recent years
The establishment of the Jeddah factory is expected to create job opportunities for Saudi youth
The winners of the Gulf Business Awards 2024 will be announced at a gala dinner and awards ceremony in Dubai on September 24
Saudi Arabia witnessed a 22.9 per cent increase in visitor spending in Q1 2024 compared to the previous year