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Saudi Arabia
Energy
OPEC Secretary General: Oil industry calls for $11.1 trillion in investments by 2045
Al Ghais highlighted OPEC’s role in addressing global issues like climate change, energy transition
Hospitality & Tourism
Saudi Arabia’s Sharaan Resort project at AlUla begins
Upon completion, the resort will feature 38 suites carved into the sandstone mountains of AlUla
Saudi Arabia
Lucid secures $1 billion investment from Saudi Arabia’s PIF, boosting shares by 18 percent
The Saudi government currently holds a 60 percent stake in Lucid
Hospitality & Tourism
Red Sea Global signs agreement to drive eco-friendly mobility solutions at luxury destinations
Driving sustainable transportation in line with Vision 2030
Energy
With over $15.4 billion in investments, Aramco seeks stronger collaboration with China
Amin Nasser highlights mutual opportunities for economic growth and investments
Logistics
Top performing airports in Saudi Arabia highlighted in GACA report
King Abdulaziz International Airport secured the top spot with a 91 percent compliance rate
Logistics
Saudi Arabia’s Mawani introduces ‘GALEX’ shipping service at King Abdulaziz Port in Dammam
This service aims to strengthen the maritime connections between Saudi Arabia and East Asia
Energy
Oil to retain significant role in energy markets for decades, affirms OPEC Secretary General
Al-Ghais highlighted that calls to abandon oil were "wrong" and "unrealistic"
Hospitality & Tourism
Saudi Arabia’s Qiddiya set to construct world’s first ‘Dragon Ball’ theme park
The park features more than 30 exciting attractions, including five state-of-the-art rides
Logistics
Saudi Arabia’s air traffic surpasses pre-pandemic levels in 2023 with 112 million passengers
Saudi Arabia attributes the surge in passenger traffic to the increasing prominence of low-cost carriers
Logistics
Saudi Arabia’s airports excel in complaint resolution: GACA reports near-perfect performance in February
King Khalid International Airport topped international terminals with over 6 million passengers annually
Logistics
Saudi Arabia’s shipping services receive high marks on U.N. maritime connectivity index
The recent evaluation demonstrates a 30 percent increase since launch of Vision 2030 initiative in January 2016
Hospitality & Tourism
Saudi Arabia’s Red Sea Global: Further resorts including Nujuma, a Ritz-Carlton Reserve to open in 2024
The developer opened doors to first guests at The Red Sea destination in 2023
Economy
Saudi Arabia’s point-of-sale operations reach $3.1 billion during first week of Ramadan
Riyadh records highest spending at a value of SAR3.8 billion
Logistics
Saudi Arabia’s Jeddah Islamic Port to establish $46.6 million integrated logistics zone
The new zone will boost port efficiency, improve commercial flow, and strengthen supply chains
Markets
Saudi Arabia closes March issuance of sukuk program at $1.17 billion
To cater to investors with different investment horizons, the issuance has been divided into three tranches
Economy
Saudi Cabinet greenlights agreement for setting up IMF regional office in Riyadh
The initiative seeks to enhance the presence and collaborative efforts of the IMF with Arab institutions
Energy
Oil demand will reach a record 104 million barrels per day in 2024: Aramco CEO
Nasser emphasizes the effectiveness of carbon capture in mitigating greenhouse gasses
Banking & Finance
EFG Hermes concludes advisory on Cenomi retail’s sale of a portfolio of fashion brands to Abdullah Al-Othaim Fashion
In December 2023, Cenomi Retail acquired 100 percent of the share capital of Innovative Outfit Trading Company
Energy
Saudi Arabia’s crude exports dip 0.2 percent in January
OPEC+ extends output cuts amid market dynamics and global demand predictions
Industry
Saudi Arabia’s mineral wealth estimated at $2.4 trillion
Exploitation licenses in the Kingdoms mining sector soared by 138 percent
Banking & Finance
Saudi Arabia’s banks experience boost in profits with 3.1 percent increase in net interest margin
The operating income grew by 9.5 percent
Hospitality & Tourism
Saudi Arabia’s tourism sector attracts $13 billion in investments, eyes $85 billion in revenue
Kingdom positions itself as a premier travel destination with ambitious growth plans
Economy
Economic and social reforms bolster Saudi Arabia’s stable credit ratings: Report
The non-oil sector investment is key to sustaining 3.3 percent annual GDP growth over 2024-2027, the report says
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