The move toward EVs has accelerated in recent years and is seen as a key way to help countries achieve climate goals
The summit saw the official global launches of OMODA & JAECOO’s latest models, OMODA C7 and JAECOO J5, in the presence of over 2,000 attendees
Saudi Arabia is the number two oil exporter to China behind Russia and holds stakes in some Chinese refiners
Oil prices are down nearly 5 per cent so far this year, amid increasing supply from other producers, especially the US
Saudi Arabia’s markets regulator approved AlBilad Investment Company’s request to offer “Albilad CSOP MSCI Hong Kong China Equity ETF
The remaining OPEC+ cuts of 3.66 million bpd, agreed in earlier steps, are staying in place until the end of 2025
That has stoked worries among traders about a slump in demand from China, where refineries sharply cut crude processing rates last month on tepid fuel demand
The organisation said oil demand will rise by 2.11 million barrels per day (bpd) in 2024, down from growth of 2.25 million
The combination of bearish and bullish factors for gold may end up having the effect of keeping the price in a relatively narrow range for the rest of the year
The project, expected to be delivered this year, will improve the stability and reliability of Saudi Arabia’s power grid.
Yasir Al Rumayyan met with high-level officials in China including the minister of commerce and Beijing’s mayor
Saudi exports to China had tumbled in June, to 1.12 million barrels per day, the lowest since March 2020
Recent data showed that oil production and demand for major products rose to a four-month high in April, supporting prices
The summit is due to kick off on June 13 with a discussion about Africa, climate change, and development
July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, say reports
The additional Turkish tariff will be set at a minimum of $7,000 per vehicle, with effect from July 7
The contract is for the procurement and construction of the third phase of the master gas system in Saudi Arabia
The initiative was unveiled in 2021 to pilot cross-border payments in digital currencies issued by central banks
The commercial venture will be implemented in early 2025 when the two carriers secure governmental approvals
The potential deal would make the fund the third-biggest shareholder in ChinaAMC, which manages more than $248m (RMB1.8tn) in assets
The UAE’s active participation in China’s BRI includes substantial investments and infrastructure development, reinforcing its role as a critical logistics hub
Sheikh Mohamed highlighted the importance of the China-Arab States Cooperation Forum in a time when global solidarity is crucial to facing shared challenges
The discussions are expected to address the Israel-Gaza conflict, the Palestinian issue, and a potential free trade agreement between China and Gulf states
The visit comes amid growing trade ties between the UAE and China
During the state visit, the UAE president is expected to meet key business leaders, including Samsung Electronics Chairman Lee Jae-yong, and Hyundai Motor Group’s Euisun Chung among others
The visit will focus on strengthening bilateral relations and exploring further opportunities for cooperation, particularly in the economic, developmental, and cultural sectors
COMAC’s planes fly almost exclusively within China and with one Indonesian airline, but the planemaker is looking to expand elsewhere
The volume of Saudi crude to be loaded for China is estimated to fall by 5.8 million barrels in June from 45 million barrels in May
The potential deal aligns with the energy firm’s strategy to expand its downstream presence in key high-value markets
The new routes reinforce Saudi Arabia’s commitment to boost the growth of the travel and aviation sectors