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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

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

OPEC

OPEC+ sticks to small supply hike as EU eyes Russia oil ban

OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June

Prince Alwaleed

Prince Alwaleed says Musk will be ‘excellent’ for Twitter

Prince Alwaleed, chairman of the board at Kingdom Holding Company, has now agreed to roll over his current investment

Getty Images - Saudi office

Saudi Arabia’s GDP grows 9.6 per cent in Q1 2022

The growth in GDP was driven by an increase in oil activities by 20.4 per cent, and a rise in non-oil activities by 3.7 per cent

Oil exporters bagging $818bn windfall are cautioned by IMF

The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total

KFC Operator

Middle East KFC operator picks banks for dual listing

Americana operates restaurants for brands including Baskin Robbins, Costa Coffee and TGI Fridays as well as KFC and Pizza Hut, according to its website

Lucid Motors

Lucid will sell up to 100,000 EVs in deal with Saudi Arabia

Lucid said it would start delivering the vehicles by the second quarter of 2023

Saudi wealth fund weighs stake in Thyssenkrupp’s hydrogen unit

Deliberations are ongoing, and there’s no guarantee PIF will proceed with an investment

AIr Arabia

Air Arabia to resume flights to four cities in Saudi Arabia

The airline will start flying to the four destinations from April 28

Getty Images - Saudi office

Kaspersky opens new office in Saudi Arabia

Establishing this new office in the kingdom is a milestone in the company’s roadmap to protect over 400 million users

Saudi Arabia’s growth outlook boosted by IMF on oil surge

The kingdom’s economy expanded 6.7 per cent on an annual basis during the fourth quarter of 2021