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Riyad Bank’s annual profit soars to $1.6bn on lower expenses

RIYADH: Saudi Arabia’s Riyad Bank has seen its annual profit soar by 28 percent to SR6.03 billion ($1.6 billion) in 2021 on the back of lower expenses according to a filing.

Saudi Arabia, Jordan eye trade relations over $1 billion with new

A bilateral agreement which could be worth over $1 billion has been signed by business leaders from the Saudi Arabian city of Makkah and Jordan’s Amman. A memorandum of understanding was agreed

Clashing visions of ‘moderate Islam’

James M Dorsey Two diametrically opposed visions of moderate Islam have emerged as major Muslim powers battle to define the soul of their faith in the 21st century in a struggle that is as much about geopolitics as it is about autocratic survival and visualisations of a future civilisation and world order. Saudi Crown Prince Mohammed bin Salman and Yahya Cholil Staquf, the newly elected chairman of […]

UAE makes a risky geopolitical bet

James M Dorsey Emiratis celebrated their decision not to condemn the Russian invasion of Ukraine in the United Nations Security Council as the end of an era in which the Gulf state took its foreign policy cues from the United States. However, the Emiratis may be celebrating prematurely. As the UAE took over from Russia this month as chairman of the Council, Abdulkhaleq Abdulla, a political scientist […]

Saudi Arabia supports de-escalation in Ukraine: Cabinet

RIYADH: Saudi Arabia supports de-escalation efforts in Ukraine, a statement by the Saudi Cabinet said Tuesday.

Giorgio Armani and Saudi Rubaiyat establish a joint venture to sell

RIYADH: Italian luxury fashion house Giorgio Armani and Saudi Arabian retailer Al Rubaiyat Company for Industry and Trade Holding Ltd are to establish a joint venture to sell the former’s products,

Al-Shabab FC keep slim Saudi Pro League title hopes alive with

RIYADH: Al-Shabab FC got back to winning ways after overcoming hosts Al-Feiha 2-1 at Al-Majmaa Sports City Stadium on Sunday, in the conclusion of the 22nd round of the Saudi Pro League season. The

A humanitarian tragedy and economic disaster

Matein Khalid The Russian invasion of Ukraine is both a humanitarian tragedy and an economic disaster. Something is dangerously wrong in a world where its second largest oil producer is now a pariah state that makes a mockery of international law and will soon be crippled once its banks are ejected from SWIFT. Russia and Ukraine are also the source of almost one third the world’s wheat/corn […]

Russian conquest of Kyiv not a pretty picture

By James M Dorsey It may be only a matter of time before Russian troops control the Ukrainian capital of Kyiv and topple President Volodymyr Zelenskyy. However, that may not be the end of the story. Russian President Vladimir Putin’s troops could find themselves in Ukraine for the long haul depending on whether Ukrainians have the stomach to launch an insurgency. If so, Mr. Putin knows the […]

ME states do tight rope walk over Ukraine

By James M Dorsey Israel and Gulf states struggle not to fall off the tightrope they walk as a Russian attack on Ukraine makes hedging bets increasingly tricky. Unlike Israel, the Gulf states may feel that they have more flexibility than the Jewish state that depends on the United States for its regional military superiority and political support in an international community critical of its 54-year-long occupation […]

UAE & Saudi Arabia Battle for Pro Golf

Photo In 2021, the PGA switched up one of its longest-running branches. The PGA, which oversees the most popular and expansive professional golf leagues in the world for men and women, announced an update to its European Tour. After years of running a separate European Tour and Asian Tour, which saw multiple events held in the UAE, the PGA decided to establish a new branch of the […]

Energy Is A Strategic Weapon In Russia’s War Against Ukraine

Dubai retains title as busiest airport

Arabian Post Staff Dubai International (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year after clocking 29.1 million in annual traffic in 2021. DXB’s annual traffic exceeded forecasts for the year by more than half a million passengers, on the back of a strong last quarter. Paul Griffiths, CEO of Dubai Airports, described an eventful year which, despite the […]

Is there an oil supply crunch or just a minor pinch?

Bjørnar Tonhaugen According to prices in the market, and numerous market observers, the world is not producing enough oil to keep up with near-term demand. Are we facing the start of a major supply crunch in the upstream world of oil like for natural gas? As global demand recovers from the pandemic, could we be near exhaustion of short-term production capacity, which means that the drop in […]

Tomorrow’s travel with emerging technologies

By Suraj Tiwari The pandemic has shifted the travel process, and it’s brought the airport experience to the forefront. With travel restrictions easing globally, border control authorities are likely to spend more time scrutinising travellers’ records, given the added need to review health credentials and vaccination statuses. While biometric identity management systems have helped improve this situation to some extent by enabling officials at border gates to […]

Saudi Arabia reports 2,866 new COVID-19 cases, 3 deaths

RIYADH: Saudi Arabia announced three deaths from COVID-19 and 2,866 new infections on Thursday. Of the new cases, 956 were recorded in Riyadh, 189 in Jeddah, 158 in Dammam, and 116 in Hofuf. Several

Saudi Arabia targets a 13.5m bpd capacity energy minister tells Time

RIYADH: Saudi Arabia is targeting an oil production capacity of around 13.5 million barrels per day by 2027 as demand for crude and consumption will continue to grow, the Time magazine reported

Saudi Arabia reports 3,330 new COVID-19 cases, 2 deaths

RIYADH: Saudi Arabia announced two deaths from COVID-19 and 3,330 new infections on Tuesday. Of the new cases, 1,066 were recorded in Riyadh, 221 in Jeddah, 189 in Dammam, 111 in Abha, and 101 in

Israel expands its Iran strategy

By James M Dorsey Israeli Prime Minister Naftali Bennett has laid out an expanded Israeli strategy to confront Iran that appears to move beyond a potential military strike against the Islamic republic’s nuclear facilities. Bennett appeared to be guided not only by concern about the fallout of a unilateral Israeli action but also seemingly mounting fears in Tehran that economic hardship could spark a social explosion. “Bennett’s new approach […]

Saudi owners’ ‘lofty ambitions’ for Newcastle United depend on

NEWCASTLE: Eddie Howe has revealed Newcastle United’s Saudi-based owners have “huge ambitions” for the Magpies in the long term. But Howe understands, as do majority shareholders the Public

Saudi civil aviation authority partners with Oracle, Microsoft to

RIYADH: Saudi Arabia’s General Authority of Civil Aviation, known as GACA, has partnered with Oracle and Microsoft to accelerate digital transformation in a range of sectors. The authority signed

Saudi Arabia requires third vaccine dose for citizens traveling abroad

RIYADH: Saudi Arabia said Thursday that it will require citizens who are traveling abroad to take a third dose of the coronavirus vaccine in order to depart the Kingdom, starting Wednesday. The

Profits of Saudi Arabia’s Elm almost triple ahead of IPO

RIYADH: As it plans to list on the Saudi Exchange, digital security firm Elm Co. saw a 162 percent jump in profits year-on-year during the first nine months of 2021. Profits of the PIF-owned company

Iran’s soccer course: Politics

By James M. Dorsey Iran recently scored not one but two soccer successes. Fans celebrated after the country’s national team qualified for the third consecutive time for the World Cup after beating Iraq 1:0 last week. It wasn’t just men celebrating. It was men and women mingling freely in a Tehran square. That was after men and women, albeit segregated, egged on their team in Tehran’s Azadi or Freedom Stadium. Although […]