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Saudi crown prince regional tour

In pics: Saudi Crown Prince Mohammed bin Salman’s regional tour

The Crown Prince left Turkey on Wednesday, June 22, bringing an end to his regional tour that also took him to Egypt and Jordan

UK launches negotiations for free trade deal with GCC

The deal would add at least £1.6bn a year to the UK economy and support new jobs across key industries

Saudi Crown Prince and King of Jordan

Saudi investments in Jordan amount to $14bn: Saudi Chambers of Commerce and Industry

The figures were cited in an economic report issued by the Saudi Chambers of Commerce and Industry during Saudi Crown Prince Mohammed bin Salman’s visit to Jordan

Emirates

Dubai’s Emirates to operate additional flights for Hajj season

The airline will be deploying 31 additional flights to Jeddah and double daily flights to Medina from June 23 until July 20

Carlyle seeks $325m from Gulf Domino’s Pizza operator IPO

Carlyle is selling a 41.7 per cent stake in Alamar, or 10.6 million shares, to institutional and retail investors

Amazon startups

Amazon backs Saudi entrepreneurs to establish logistics startups

The programme aims to establish more than 30 new startups and create hundreds of job opportunities during the first three years

US President

US President to visit Saudi Arabia in July

Joe Biden will visit the country on July 15-16

Saudi Arabia

Saudi Arabia lifts Covid-19 precautionary measures

The kingdom registered 905 new Covid-19 infections on June 12

Saudi Telecom

Saudi Telecom to raise capital by $8bn in bonus shares

The company plans to issue 1.5 bonus shares for every existing share, through capitalising retained earnings

HSBC boosts Saudi investment banking team amid flurry of deals

International banks including Citigroup and Bank of America have been expanding in the kingdom

sheila alrowaily Aramco

Aramco executive becomes first woman on Saudi Central Bank board

Sheila Alrowaily is among a growing number of women taking on leadership roles in finance across the Gulf region

Jordan

Saudi wealth fund’s $3bn Jordan unit aims to ramp up deals

The investment is expected to create more than 5,000 jobs and will be the first of several deals announced by the fund over the next year

Campaign Saudi Briefing

Campaign Saudi Briefing 2022: Vision and Ambition is coming to Riyadh

For the first time in Campaign Middle East’s 14-year history, the publication is taking the ‘Breakfast Briefing’ format on the road to Saudi Arabia

Public Investment Fund

Saudi wealth fund to take $185m Jordanian bank stake

The Public Investment Fund signed a subscription agreement that would involve it buying 63 million newly issued shares

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

Electronic visa for Umrah available now

Saudi Arabia launches electronic visa processing app for Umrah pilgrims

The visit visa for Umrah will be issued now within 24 hours and applications can be submitted from outside Saudi Arabia through the app

Middle East IPOs

Middle East IPOs on track for best ever first half as oil surges

IPOs in the Middle East have fetched $11.4bn in the first five months of the year

Cuemath

Alpha Wave leads $57m funding in edtech platform Cuemath

Funds will be deployed to help Cuemath expand to over 100 countries by FY’23

Open banking

Open banking platform Tarabut Gateway partners with four banks in Saudi

Traditional financial institutions and fintechs can connect and build their own apps using Tarabut’s solutions

Agthia--800x478

UAE’s Agthia Group to invest Dhs90m into manufacturing facility in Jeddah

It is being built for Nabil, one of Agthia’s protein brands, with sales expected to commence from the new facility in H2 2023

SAUDI-ARABIA-alcohol

Saudi tourism official clarifies country’s stand on alcohol consumption

Princess Haifa Mohammed Al-Saud, the kingdom’s assistant minister of tourism, spoke on the subject at the World Economic Forum in Davos

Saudia qatar

Saudia to operate hundreds of extra flights during FIFA World Cup Qatar 2022

From November 21, the airline will operate 60 special daily flights for fans which will run from both Riyadh and Jeddah to Doha

ACWA Power

ACWA Power, OQ, and Air Products sign agreement to build green hydrogen-based ammonia facility in Oman

The facility would be powered by renewable energy and produce green energy products

courtesy NEOM twitter Saudia

Saudia, NEOM to start regular international flights from NEOM Bay Airport

Saudia will operate direct flights to select regional and international destinations, with weekly flights to Dubai set to start by the end of June

Nujuma, a Ritz-Carlton Reserve Saudi Arabia

The Middle East’s first Ritz-Carlton Reserve to be established in Saudi Arabia’s Red Sea project

Apart from the property in Saudi, there are only five other Ritz-Carlton Reserves worldwide

Saudi Arabia

Saudi Arabia to use oil windfall to boost private sector

Saudi Arabia’s posted a $15.3bn budget surplus in the first quarter

Prince Alwaleed

Saudi Arabia buys $1.5bn stake in Prince Alwaleed’s firm

The Public Investment Fund acquired a 16.9 per cent stake in Kingdom Holding Company

Saudi food delivery firm Jahez seeks to acquire rival Chefz

Jahez is the biggest locally owned food delivery group in Saudi Arabia

oil

OPEC+ ministers say pumping more oil won’t ease gasoline prices

Soaring demand ahead of the peak US driving season is sending refining margins to extraordinary heights