#Saudi Arabia

Saudi economy grows at fastest rate in nearly a decade

Gross domestic product expanded by 6.8 per cent compared to the same quarter of 2020

Abu Dhabi’s ADNOC Distribution posts net profit worth Dhs1.7bn for first nine months of 2021

It recorded a net profit of Dhs529m for the third quarter of 2021

Saudi Arabia chases $64bn Hollywood dream

The kingdom is launching its first international film festival

UAE says oil prices would be even higher if it wasn’t for OPEC+

Brent crude’s climbed 62 per cent this year to almost $84 a barrel

US backs $650m air-to-air missile sale to Saudi Arabia

The Aim-120 missile is one of the US Air Force’s top air-to-air weapon systems

Abha International Airport Saudi Arabia

Saudi forces intercept another drone attack on Abha airport

The Abha International Airport has faced several drone attacks in recent months

Saudi bourse Tadawul ends IPO wait, plans to list 30% stake

The offering could value it at between $3bn and $4bn

OPEC made only half of planned supply hike amid African losses

The combination of a recovery in fuel consumption after the pandemic and constrained supply has led to a global energy crunch

Expo 2020 Dubai welcomes 2.35 million visits in October

The Saudi Arabia pavilion has attracted half a million visitors already

Oil drops at start of key week as Biden boosts pressure on OPEC+

Crude has soared this year, with production trailing supply as the global economy recovered from the impact of the pandemic

Saudi budget sees first quarterly surplus since 2019 on high oil

Oil revenue was about SAR148bn, an increase of 60 per cent from the same period last year

Medina's Al-Masjid an-Nabawi (The Prophet's Mosque) is a major pilgrimate site for Muslims Saudi Arabia mosque

Etihad to restart flights between Abu Dhabi and Madinah in Saudi Arabia

The thrice weekly flights will commence on November 27

Buy-now-pay-later provider tabby partners with Saudi’s fashion platform Styli

Styli has grown 400 per cent since its launch two years ago

Saudi Arabia tells Lebanon ambassador to leave in 48 hours

Lebanese Prime Minister Najib Mikati said in a statement on the cabinet’s website on Saturday that Cordahi’s position does not represent that of the government

Saudi Arabia announces Riyadh’s bid to host World Expo in 2030

The UAE this year became the first Middle Eastern nation to host the World Expo event

Billionaire Olayan family considers reviving plans for Saudi IPO

Established in 1969, Olayan Financing controls the billionaire family’s investments in the Middle East

Saudi’s Red Sea project signs agreements for nine hotels with 1,700 keys

The nine hotels are part of the 16 properties currently under development in the first phase of the project

Saudi Arabia signs MoU with HSBC to promote sustainable investments

The agreement covers the identification and promotion of sustainable investments in the kingdom

Saudi Arabia

Saudi: 44 global companies shift regional HQ to Riyadh ahead of 2024 deadline

The licenses were issued at the 5th edition of the Future Investment Initiative

Kuwait’s wealth fund plans to invest in Saudi green initiatives

The Kuwaiti authority is a founding member of the One Planet Sovereign Wealth Fund Working Group established in Paris in 2017

NEOM

Oracle signed on as first tenant of hyperscale data centre in Saudi Arabia’s NEOM

Oracle’s second cloud region in Saudi Arabia will enable support of Vision 2030 technology ambitions

Abha International Airport Saudi Arabia

Saudi forces destroy armed drone attacks targeting Abha airport and Najran

The Abha International Airport has faced numerous drone attacks in recent months

Saudi Crown Prince says climate goals to boost Mideast economies

The kingdom will establish a fund to improve carbon-capture technology and back an initiative to develop clean fuels

Saudi Arabia to use $110bn gas project for blue hydrogen

The kingdom also has plans to export green hydrogen

Brent oil rises above $85 as Saudi Arabia vows caution on supply

Oil has more than doubled over the past 12 months as the global economy rebounded from the dislocation caused by the coronavirus pandemic

Different Arab money

Saudi VC firm STV looking to raise $1bn for Middle East tech fund

Interest in the technology industry in the Middle East has increased the past few years

Saudi to start electric-vehicle push in Riyadh

The kingdom aims to ensure at least 30 per cent of the cars in its capital are electric by 2030

Saudi Green Initiative

Saudi Arabia aims to achieve net zero emissions by 2060

It involves an investment of SAR700bn, with the minister of energy adding that the initiative will not have an adverse economic impact on oil exporters

Digital transformation will lead to a cleaner future

While sustainability is the future, digital transformation is a key enabler supporting industries make the transition

Saudi’s Dar Al Arkan and Katara Hospitality join hands to develop sea-front project in Qatar

The project marks Dar Al Arkan’s first entry into Qatar with the aim of driving the development of the luxury property market