The International Federation of Association Football (FIFA) announced today, Thursday, that it has entered a partnership agreement with the Saudi Arabian oil giant Aramco, extending until the conclusion of 2027. Aramco, under this four-year deal, will become a global partner of FIFA, including involvement in major tournaments such as the 2026 FIFA World Cup and…
The National Housing Company has partnered with Orbass Middle East Real Estate Company, a subsidiary of the Spanish firm Orbass, to build 589 residential units in Al-Fursan suburb, valued at approximately one billion riyals. The agreement aims to provide innovative housing options across a vast area of up to 150,000 square meters, with the Spanish…
Non-petroleum exports, which include re-exports, saw a 4.4% increase in February 2024 compared to the same period last year. Conversely, national non-petroleum exports excluding re-exports dropped by 4.1%. Meanwhile, the value of re-exported goods surged by 32.3% during the same timeframe. Figures released by the General Authority for Statistics revealed a 2% decrease in commodity…
US crude oil inventories experienced a decline following four consecutive weeks of increase, surpassing the average expectations. Conversely, distillate stocks rose contrary to predictions. According to data from the Energy Information Administration (EIA), crude oil inventories decreased by 6.4 million barrels for the week ending April 19, exceeding the projected decrease of 2.1 million barrels…
LONDON: The EU revealed on Monday its plans to ease visa regulations for citizens from Saudi Arabia, Oman, and Bahrain. The European Commission has approved three measures to update the rules on granting multi-entry visas to residents of these Gulf countries. The announcement was made during the EU-GCC High-Level Forum on Regional Security and Cooperation…
The city of Riyadh is hosting the (GREAT FUTURES) initiative and its associated activities for a duration of 12 months at the King Abdullah Financial Center. The objective is to forge Saudi-British partnerships across governmental and private sectors spanning various economic and developmental domains in alignment with Saudi Vision 2030. This initiative, slated for launch…
The Cabinet, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, approved today the licensing of the Swiss bank (UBS AG) to open a branch to conduct banking activities in the Kingdom. The Cabinet welcomed participants in the special meeting of the World Economic Forum, which will be held next Sunday…
The culinary scene, from kitchen clouds to doorstep delights, is a captivating playground for investors across the Gulf, and Saudi Arabia is stealing the show. With “Expo 2030” on the horizon and Vision’s lofty goals, Saudi Arabia’s restaurant realm is gearing up for a taste bud takeover. Picture this: in 2023, a whopping 4,000 new…
The CEO of flynas, Bandar Al-Muhanna, revealed that the total revenue of flynas in 2023 amounted to 6.3 billion Saudi riyals, an increase of 32% compared to the previous year 2022. This came in his statements today at the “Economics of Airlines” conference, hosted by Riyadh on April 22 and 23 of this year. He…
DHAKA: During the first official visit of Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani to Dhaka, Bangladesh and Qatar inked 10 cooperation agreements on Tuesday. Prime Minister Sheikh Hasina and Sheikh Tamim presided over the signing ceremony, which encompassed deals spanning investment, maritime transport, taxation, legal affairs, and the establishment of a joint business council…