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Flynas

Flynas to launch direct flights from two Saudi cities to Mumbai

Flynas scaled its fleet to 38 aircraft in June 2022 compared to 25 aircraft in January 2021

DGA

Saudi oil driller plans $710m IPO to expand operations

Arabian Drilling plans to use the IPO proceeds to scale up its onshore and offshore fleet and expand operations in the GCC region

Yousef-Abdullah-Al-Benyan

CEO of Saudi Arabia’s Sabic, Yousef Abdullah Al-Benyan, resigns

By virtue of a royal decree, Al-Benyan was appointed as the kingdom’s new education minister

Saudi Crown Prince

Saudi Crown Prince Mohammed bin Salman named Prime Minister

The directive comes as part of a cabinet reshuffle

HSBC Saudi Arabia promotes Faris Alghannam to CEO role

Alghannam has been with HSBC Saudi Arabia since 2011

UAE, Saudi Arabia non-oil foreign trade

UAE, Saudi Arabia non-oil foreign trade grows 92.5% over past decade

Saudi Arabia was the UAE’s fourth leading trading partner from 2012 to 2021, with trade exchange amounting to Dhs904.3bn

Saudi National Day celebrations in UAE

UAE to celebrate Saudi National Day with fireworks, festivities and retail offers

UAE will commemorate Saudi Arabia’s 92nd National Day with an extensive programme of celebrations from September 23 to 26

Wizz Air

Wizz to have 50-plane fleet in Saudi Arabia by end of decade

Wizz as a whole is planning for a fleet of 500 aircraft by 2030

Saudi Aramco says global oil buffers may vanish when demand recovers

Oil and gas investments slumped from $700bn in 2014 to $300bn in 2021, according to Aramco’s chief executive officer, Amin Nasser

Saudi oil driller hires Goldman, HSBC, SNB Capital for local IPO

Arabian Drilling operates 45 rigs and had revenue of $586m last year

HSBC executes first blockchain transaction for Middle East’s automotive sector

The Contour platform deploys decentralised technology to integrate digital networks for transfer of data across trade routes

Lazard names a woman as Saudi chair to grow Mideast advisory unit

Sarah Al-Suhaimi was named chair of the Saudi stock exchange in 2017

Saudi Arabia’s foreign minister and the secretary general of the Digital Cooperation Organization in Riyadh

Digital Cooperation Organization to establish HQ in Riyadh

Saudi Arabia, Bahrain, Cyprus, Djibouti, Kuwait, Morocco, Nigeria, Oman, Pakistan, Jordan and Rwanda are member states of the organisation founded to drive collaboration in digital transformation

copper ore

Saudi Arabia announces discovery of gold, copper ore in Madinah

Copper ore was discovered at four sites in the Al-Madiq area in the Wadi Al-Faraa region in Madinah

Gaming strategy

Saudi Crown Prince unveils National Gaming and Esports Strategy

The strategy will be implemented through 86 initiatives covering the entire value chain, launched and managed by over 20 government and private entities

Citi Saudi Arabia CEO Wassim Al Khatib resigns just a year after joining bank

The bank appointed Al Khatib as its CEO in the kingdom in 2021

stc_SDAIA_MoU

Saudi Data and AI Authority, stc to develop digital technologies, AI solutions

The organisations intend to localise digital solutions and exchange experiences and knowledge in the field of data management and governance

Global AI Summit Saudi

Global summit on artificial intelligence begins in Riyadh

The second edition of the Global AI Summit brings together various stakeholders to discuss the future of artificial intelligence and the kingdom’s contribution to this field

Oil

Saudi oil output hit 11 million barrels a day in August

It’s the highest monthly production level the kingdom has reported to OPEC since April 2020

Saudi economic growth revised higher as boom spreads beyond oil

GDP overall grew a revised 12.2 per cent from a year earlier, the fastest since 2011

UAE authorities caution Netflix over inappropriate content

Authorities said that they will be monitoring content offered by the streaming service

King Abdulaziz Port in Dammam breaks container throughput record in June

Saudi’s King Abdulaziz Port breaks container throughput record in June

The new milestone surpassed the previous record set in June 2022 by 11,031 TEUs

Saudi Arabia inflation

Two biggest Gulf economies boom and turn corner on inflation

Growth in the Saudi non-oil economy reached a 10-month high in August

Flynas flights

Saudi carrier flynas to launch direct flights between Jeddah and Tashkent

Flights connecting the two destinations will commence from September 15

Saudi’s PIF launches real estate registration services company to bolster digitisation

The company aims to build a comprehensive real estate registration database, covering data of property units across the kingdom

Saudi Arabia offers electronic tourist visa to GCC residents

The new regulation bolsters the kingdom’s aim to welcome 100 million visitors a year by 2030

Oil heads for worst losing run since 2020 on slowdown concerns

Commodities including oil have also faced a headwind this month from gains in the dollar

Saudi's Mawani and ZATCA

Saudi’s Mawani and ZATCA sign deal to regulate joint activities

The deal will be instrumental in supporting the Fasah platform in addition to streamlining operational efficiency and boosting competitiveness at Saudi ports

On an upward trajectory: How the regional aviation industry is charting its recovery

As the aviation sector’s recovery has quickened, IATA recently upgraded its outlook for the industry’s financial performance this year

Low-cost carriers

How regional low-cost carriers are flying high amid travel recovery

The Middle East’s budget carriers are cashing in on the growing trend for affordable luxury and increasing demand