#SAUDIARABIA News

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TASI closes on a positive note, gains 144 points

arabnews.com RIYADH: Saudi Arabia’s benchmark index gained ground on Wednesday, with 148 of the 219 listed companies closing higher as investors came in droves to kick-start a bull run.…

Janet Yellen walks back her previous comments about Elon Musk's twitter purchase

fortune.com Janet Yellen changes course and says she ‘misspoke’ when she said there was ‘no basis’ for the government to review Elon Musk’s Twitter buy Treasury Secretary Janet Yellen…

Yellen says she misspoke about potential U.S. review of Musk’s Twitter purchase

marketwatch.com Treasury Secretary Janet Yellen on Wednesday said she “misspoke” in an interview earlier this month when asked about a potential U.S. government review of Elon Musk’s…

OPEC oil output drops in November after cut pledged -survey By Reuters

investing.com By Alex Lawler LONDON (Reuters) - OPEC oil output has fallen in November, led by top exporter Saudi Arabia and other Gulf members, after the wider OPEC+ alliance pledged…

OPEC oil output drops in November after cut pledged -survey

reuters.com Summary - OPEC output falls 710,000 bpd from October -survey - OPEC complies with 163% of pledged cuts in November - Quota-bound members undershoot target by 800,000 bpd -…

Biden Admin Approves $1 Billion Arms Sale To Qatar During World Cup

zerohedge.com Biden Admin Approves $1 Billion Arms Sale To Qatar During World Cup Authored by Mimi Nguyen Ly via The Epoch Times, The Biden administration approved a possible military…

The pros and cons of Qatar's historically small World Cup

axios.com Data: Axios research; Chart: Erin Davis/Axios Visuals Note: This chart has been corrected to show that the magnification of Qatar is 8x, not 4x. Qatar 2022 is the most…

Saudi PIF secures record-breaking $17bn seven-year senior unsecured term loan

arabnews.com RIYADH: Saudi Arabia’s Public Investment Fund has announced that it has secured a new $17 billion seven-year senior unsecured term loan, according to a statement. The loan…

Saudi airports focus on sustainability through infrastructure projects: Leading official

arabnews.com RIYADH: The aviation sector in Saudi Arabia is pushing toward a sustainable model by building infrastructure for the future to deliver a seamless passenger experience,…

Uber’s diversification strategy should be blueprint for travel and tourism industry: Leading IBM official

arabnews.com RIYADH: The travel and tourism sector should look to Uber to learn how to diversify, according to the Global Managing Director of IBM’s Travel and Transportation Industry…

Capital markets need to step in to secure Vision 2030 goals: S&P Global

arabnews.com RIYADH: Saudi Arabia’s banking sector will not be able to fund all of the Kingdom’s Vision 2030 projects, according to a report which said more private investment is needed.…

Standard Chartered launches tech program for women-led startups in Saudi Arabia

arabnews.com RIYADH: Women-led tech startups working in Saudi Arabia stand a chance to receive $50,000 in funding support if they take part in a tech program launched by Standard…

PIF-owned Badeel, ACWA to develop MENA’s largest solar plant in KSA

arabnews.com RIYADH: Saudi utility firm ACWA Power has signed power purchase agreements with the Water and Electricity Holding Co. to develop the biggest solar plant of its kind in the…

NEOM’s hanging stadiums will help make the giga-project a top-rated tourist hub: CEO

arabnews.com RIYADH: The hanging stadiums within Saudi Arabia’s $500 billion giga-project NEOM will make tourists reimagine and visualize the future, as the Kingdom steadily pursues its…

Hewlett Packard Enterprise gains on solid earnings, guidance By Investing.com

investing.com By Senad Karaahmetovic Shares of Hewlett Packard Enterprise (NYSE:HPE) trade higher in pre-market Wednesday after the company reported better-than-expected FQ4 results and…

U.S. hedge fund Engine Capital urges Univar to review strategic options By Reuters

investing.com (Reuters) - U.S. hedge fund Engine Capital on Wednesday urged chemicals company Univar (NYSE:UNVR) Solutions Inc to begin a review of its strategic alternatives. Engine…

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 1.35% By Investing.com

investing.com Investing.com – Saudi Arabia stocks were higher after the close on Wednesday, as gains in the Energy & Utilities, Media & Publishing and Cement sectors led shares higher.…

A Report on China's Opium War Against the United States

newsweek.com During the 19th century, opium was British India's most valued export and China its most lucrative market. So much so that in 1858 Britain went to war not to prevent drug…

Saudi Arabia And South Korea Are Forging Closer Defense Ties

forbes.com The powerful Saudi Crown Prince and Prime Minister Mohammed bin Salman visited the South Korean capital Seoul on Nov. 16 and met with Korean President Yoon Suk-Yeol. During…

Saudi Tourism Development Fund signs partnership agreement with Hilton

arabnews.com RIYADH: Saudi Arabia’s Tourism Development Fund signed an agreement with Hilton on Tuesday to promote strategic partnerships between the two entities. The new accord will…

SEVEN invests over $13 billion to build entertainment destinations in Saudi Arabia

arabnews.com RIYADH: The Saudi Entertainment Ventures (SEVEN), announced it will invest over $13 million in establishing 21 entertainment destinations across 14 cities in the Kingdom.…

The reluctant rise of the diplomat CEO

economist.com The reluctant rise of the diplomat CEO Elon Musk wants to be a statesman. Most bosses would rather not The corporate jets descended on Riyadh this week, ferrying chief…

Where next for management’s consiglieri?

economist.com Forget the scandals. McKinsey and its peers are more powerful than ever The ceo-whisperers of Bain & Company, Boston Consulting Group (bcg) and McKinsey, the trio at the…

The blow-up with Saudi Arabia reveals a new American strategic weakness

economist.com The blow-up with Saudi Arabia reveals a new American strategic weakness One party’s adversary is becoming the other party’s friend “W e are all Semites together,” the Saudi…

The growing popularity of a strange form of debt diplomacy

economist.com The growing popularity of a strange form of debt diplomacy Why Saudi Arabia and the IMF may end up in a stand-off over Egypt Reality caught up with the Egyptian pound on…

OPEC defies Joe Biden with a big output cut

economist.com The organisation of the Petroleum Exporting Countries (OPEC) is sometimes called the oil market’s central bank. Every month the cartel and its allies, a group of 23…

Saudi Arabia Weighs World Cup 2030 Bid With Egypt, Greece

bloomberg.com Saudi Arabia Weighs World Cup 2030 Bid With Egypt, Greece Bloomberg

Saudis Unveil Plans For Massive 6-Runway Airport Hub To Boost Tourism, Trade

zerohedge.com Saudis Unveil Plans For Massive 6-Runway Airport Hub To Boost Tourism, Trade Saudi Arabia has unveiled plans for a massive new airport in Riyadh as part of the kingdom's…

Here’s a look at free speech absolutist Elon Musk’s ties to Chinese censorship

fastcompany.com A good portion of Elon Musk’s time since the Thanksgiving holiday has been devoted to attacking Apple, and subsequently the national media, for not supporting free speech…

Mideast capitalizes on tourism opportunities to drive regional growth

arabnews.com RIYADH: For decades, the Middle East relied on its economic success by cashing in on its rich natural resources, such as oil. But now, the region has veered from the path to…

Saudi Arabia extends terms of $5 billion in aid to Egypt

apnews.com CAIRO (AP) — Saudi Arabia agreed Tuesday to extend the terms of a $5 billion aid package to Egypt that took effect in March, Saudi state media said. The move was aimed at…

Why Chevron, Occidental Petroleum, and Devon Energy Rallied Today

fool.com What happened Shares of oil giants Chevron (CVX 1.18%), Occidental Petroleum (OXY 0.85%), and Devon Energy (DVN 0.99%) rallied today, up 2.6%, 3.9%, and 4.2%, respectively,…

Tiger Woods: LIV Golf CEO Greg Norman Has ‘Got To Leave’

forbes.com Topline The world’s most influential golfer Tiger Woods called for the removal of LIV Golf’s brash CEO Greg Norman on Tuesday, as PGA Tour loyalists increasingly pin the…

South American teams vie to win their first World Cup in 20 years

axios.com Argentina's stunning loss to Saudi Arabia put a damper — but didn't end — fans' hopes this could be the year South America reigns at the World Cup again. The big picture:…

Saudi Arabia is now backpedaling, seeking to mend ties with Biden after Democrats fared better-than-expected in the midterms

businessinsider.com US President Joe Biden (l) and Saudi Crown Prince Mohammed bin Salman. Bandar Algaloud/Reuters Saudi Arabia is seeking to repair relations with the US after a recent…

Saudi heritage town Diriyah to host 16 additional global hotel brands

arabnews.com RIYADH: Saudi Arabia’s historic town Diriyah is set to host 16 new hotels as its master developer Diriyah Gate Development Authority has signed deals with additional global…

Saudi Arabia driving post-pandemic recovery of global tourism sector

arabnews.com RIYADH: As the travel and tourism industry has a critical role to play in the global economy’s recovery from the pandemic, Saudi Arabia is leading the way through…

‘Middle East tourist plans far better than doom and gloom of Europe’: Accor CEO

arabnews.com RIYADH: The head of the largest hospitality firm in Europe insists the world should be learning from the Middle East’s “mind boggling” tourism plans as he praised the…

Seera Group’s multi-million resort in Al Baha to be operational by 2026: top official

arabnews.com RIYADH: Hospitality firm Seera Group’s resort in Al Baha will be operational by 2026 as the company continues its collaboration with the Tourism Development Fund, according…

Informa and SAFCSP form events company to attract 500k visitors a year by 2030

arabnews.com RIYADH: Saudi Arabia is offering investment opportunities worth $6 trillion in the travel and tourism sector through to 2030, as the Kingdom steadily pursues its journey to…

Ceer EV plant to be built in Emaar EC in $95m deal

arabnews.com RIYADH: Emaar The Economic City has announced the sale of an industrial plot to Ceer National Automotive Co. to build a specialized factory for electric vehicles in a move…

Saudi Arabia offering $6tn of investment opportunities in travel and tourism: Minister

arabnews.com RIYADH: Saudi Arabia is offering investment opportunities worth $6 trillion in the travel and tourism sector through to 2030, as the Kingdom steadily pursues its journey to…

Europe Proves a Rush to Green Energy Demands Too High a Price

newsweek.com After years of being beholden to foreign production, American ingenuity and new technological advancements accelerated the American energy renaissance. This seminal moment…

$60 Billion LNG Mega Deal Marks Chinese Influence In Middle East

oilprice.com In a world now where several major economies may need huge quantities of gas delivered very quickly and with very little notice, Qatar, as the top liquefied natural gas…

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.05% By Investing.com

investing.com Investing.com – Saudi Arabia stocks were higher after the close on Tuesday, as gains in the Petrochemicals, Retail and Telecoms & IT sectors led shares higher. The best…

Saudi Arabia shocks Argentina in one of the biggest World Cup upsets ever

axios.com Saudi Arabia pulled off one of the biggest upsets in World Cup history with a stunning 2-1 victory over Argentina on Tuesday. Why it matters: Argentina's loss ends its…

UAE Plans $150 Billion Spending Spree To Boost Oil Output To 5MM Barrels By 2027

zerohedge.com UAE Plans $150 Billion Spending Spree To Boost Oil Output To 5MM Barrels By 2027 With oil tumbling ahead of the grueling 2023 recession, the last thing OPEC+ and (bullish)…

S&P Global lowers 2023 growth forecast for emerging markets

arabnews.com RIYADH: More than 6,000 Saudis are currently being trained up for technical roles in the Kingdom’s growing tourism industry, according to the government agency leading the…

World Cup fans are refusing to speak to Israel TV presenters: "Not welcome"

newsweek.com TV reporters from Israel are being told they are "not welcome" while covering the FIFA World Cup in Qatar, with soccer fans refusing to speak to them. An independent…

S&P Global lowers 2023 growth forecast for emerging markets By Reuters

investing.com (Reuters) - S&P Global (NYSE:SPGI) Ratings lowered its 2023 growth forecast for emerging economies on Tuesday, citing persistent pressures from the Russia-Ukraine conflict,…

Jamaica among 84 nations hit by WhatsApp data leak - report

jamaicaobserver.com Jamaica is reportedly among 84 countries affected by a WhatsApp data leak, with nearly 400,000 local phone numbers compromised. The announcement was made by online security…

World’s first commercial shipment of blue ammonia leaves Saudi Arabia

arabnews.com A consignment of blue ammonia has left Saudi Arabia for South Korea, representing a new milestone in the development of decarbonization solutions. The development was first…

Americana Restaurants reveals IPO date in first dual listing on Abu Dhabi and Saudi Arabia markets

arabnews.com RIYADH: The restaurant group that runs KFC, Pizza Hut, Krispy Kreme and others across the Middle East has announced share allocation to investors as well as the scheduled…

Fact Check: Were Saudi players promised Rolls-Royces for World Cup win?

newsweek.com Saudi Arabia's astonishing World Cup win over favorites Argentina has been among the most surprising results of this year's tournament, with eager speculation the team could…

UAE Cuts Oil Supplies To Asia As COVID Shutdowns Weaken Economy

benzinga.com The United Arab Emirates (UAE) will reduce its crude oil exports to some term contract clients in its core market Asia by 5% in December. What Happened: According to…

What’s Next For Chevron’s Stock?

forbes.com Chevron Corporation (NYSE: CVX), a company manufacturing and selling a range of refined petroleum products, including gasoline, diesel, marine and aviation fuels, premium…

TVTC zeroes in on tourism with more than 6k Saudis training for roles in key Vision 2030 sector

arabnews.com RIYADH: More than 6,000 Saudis are currently being trained up for technical roles in the Kingdom’s growing tourism industry, according to the government agency leading the…

WTTC members to invest $10.5bn in Saudi Arabia’s tourism sector over next 5 years

arabnews.com RIYADH: The World Travel and Tourism Council members will invest $10.5 billion in Saudi Arabia’s tourism sector, as the Kingdom steadily evolves as a global tourist…

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