News related to
Saudi

DP World says revenue up 11% to $8.5b

DP World announced revenue growth of 11.0% to $8,533 million and adjusted EBITDA grew 0.4% to $3,319 million with adjusted EBITDA margin of 38.9% for the calendar year 2020. The revenue growth was supported by acquisitions and full year contribution from Topaz Energy & Marine and P&O Ferries while Maritime and Logistics revenue was up 33.2%. But like-for-like revenue decreased by 7.0% and down 3.2% excluding one-off […]

Saudi Arabia welcomes efforts to ensure Iran does not acquire nuclear weapon

RIYADH: Saudi Arabia welcomed international efforts to ensure Iran does not acquire a nuclear weapon, and to make the Gulf region free of all weapons of mass destruction. During the weekly cabinet

Shuaa leads $50m sukuk for Pure Harvest

Arabian Post Staff SHUAA Capital has led a USD 50 million structured Sukuk for Pure Harvest Smart Farms, the world-leading, sustainable technology-enabled agribusiness based in the UAE. SHUAA also co-invested in Pure Harvest through its managed funds as part of this funding round. SHUAA originated, structured and placed the innovative financing solution, which comprises a USD 50 million 3-year sukuk with embedded warrants. Simultaneously, Pure Harvest has […]

Smugglers protests: Iran succumbs to trauma and demons

James M. Dorsey The clashes sparked by a crackdown on cross border fuel smuggling to neighbouring Pakistan achieved what past US and Saudi machinations failed to accomplish: ethnic unrest in a strategic, impoverished and long restive majority Sunni province in predominantly Shiite Iran.Recent clashes in the Iranian province of Sistan and Balochistan highlight Iran’s vulnerabilities as well as its inability to overcome trauma and control its demons. The […]

Saudi legal reforms to boost inward medical investment says industry

DUBAI: A suite of new legal reforms will attract foreign investment into the Kingdom’s medical supplies sector, the industry’s watchdog head predicts. It follows the introduction of sweeping

‘Saudi’s got talent?’ Kingdom mulls entertainment academy

RIYADH: Saudi investment chiefs want to ensure more of the country’s workforce is trained to work in the entertainment sector. The Kingdom’s General Entertainment Authority (GEA) has signed an

Saudi domestic flights buck Mideast air travel slowdown

DUBAI: Saudi domestic airlines are seeing a quicker recovery in routes within the Kingdom than larger regional rivals relying on pandemic-paralyzed long haul travel. The CAPA Live aviation industry

Saudi nationals join World Economic Forum Young Global Leaders class

DUBAI: Three Saudis nationals have been selected to join the World Economic Forum’s Young Global Leaders (YGL) class of 2021. Founder and Executive Chairman of the WEF, Klaus Schwab, created the YGL

Saudi’s billion dollar gaming industry could double in next three years

Saudi Arabia approves incentives for Hajj and Umrah businesses

RIYADH: Saudi Arabia’s King Salman approved a number of incentive initiatives for establishments operating in the Hajj and Umrah sectors, Saudi Press Agency (SPA) reported on Monday. The move comes

Saudi Arabia launches women’s accountancy program

RIYADH: A program to encourage Saudi women to join the accounting profession was launched on Monday by Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi. The program is organized by the Saudi

Formula 3 driver Reema Juffali on the road to becoming an icon for all Saudi women

RIYADH: Within moments of meeting Reema Juffali, you will get the feeling she was always meant for a career in motorsports. Watch her drive, and those feeling are immediately confirmed. For Saudi

How Accelerated Branding helped companies through these unprecedented times

The brand lives in the hearts and minds of consumers, and brand loyalty is an invaluable asset as the battle for customers intensifies. During these unprecedented times some struggled while others were invigorated. The difference was the brand’s legacy being properly communicated to the company’s personas. Accelerated Branding has provided industry giants the platform to get through these times unscatched. The Accelerated Branding™ process creates timeless brands […]

King Salman receives phone call from Kuwait emir

LONDON: Saudi Arabia’s King Salman received a phone call from Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, emir of Kuwait, on Friday. During the phone call, Sheikh Nawaf congratulated the king on the

Crown Prince directed Khashoggi murder: US report

Saudi Arabia’s crown prince, Mohammed bin Salman, directed the operation that ended with the grisly murder of U.S.-based journalist Jamal Khashoggi, Los Angeles Times reported citing an unclassified U.S. intelligence report. The four-page report cited by the paper said the goal of the mission in 2018, which included seven members of the crown prince’s “elite personal protective detail,” was to capture or kill Khashoggi, a Saudi journalist […]

How a Wikipedia error took root in the world’s media: Ahmad Zaki

LONDON: Ahmad Zaki Yamani, the longest-serving Saudi petroleum minister who oversaw the implementation of the oil embargo of 1973, is considered among the towering figures of the global energy

Saudi Arabia working to enhance energy security – cabinet

RIYADH: Saudi Arabia is committed to supporting the stability of the oil markets and the sustainability of global supplies, the Kingdom’s cabinet said. The announcement was made during the cabinet’s

Saudi Capital Market Authority announces rules for property financial

The Saudi Capital Market Authority (CMA) on Monday announced that it will allow investment fund managers to use the fair value or revaluation model to measure property and investment property for the

INTERVIEW: Female Saudi driver feels right at home at Diriyah E-Prix

RIYADH: Ahead of the 2021 Diriyah E-Prix double-header on Friday, Arab News caught up with Reema Al-Juffali, one of Saudi Arabia’s rising stars in motorsports. Al-Juffali, 29, talked about Formula E,

Saudi cave guide unlocks doors to ‘hidden’ Kingdom

MAKKAH: Tareq Mohammed, a specialist in cave tourism from Madinah, is opening the door to a new world of geotourism in Saudi Arabia. Tourism guidance is Mohammed’s life, and the Kingdom’s caves and

Crown prince to patronize Saudi Cup ceremony on Saturday

LONDON: Saudi Arabia’s Crown Prince Mohammed bin Salman will patronize the Saudi Cup ceremony that will take place on Saturday evening at the King Abdul Aziz Racecourse in Janadriyah. The world’s

KSA venture capital investments grow 124% to $152m in 2 years

RIYADH: The Saudi Venture Capital Co. (SVC) has reported a 124 percent growth in its investments over the past two years. According to data from Magnitt, its venture capital investments rose to SR570

Food prices lift Saudi inflation to 5.7 percent in January,

RIYADH: he Consumer Price Index (CPI) in Saudi Arabia increased 5.7 percent in January 2021 compared to the same month last year 2020 and 3.5 percent compared to last December, according to data

Saudi Arabia to halt contracts with foreign companies that do not

RIYADH: Saudi Arabia will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom. The rule will include agencies, institutions and