#Saudi Arabia

Oil extends losses as traders weigh Iran supply, demand outlook

OPEC+ discusses cutting oil output at next week’s meeting

Oil prices have slumped by a fifth since early August on fears over the global economy

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

Alteia

French enterprise AI platform Alteia closes its latest funding round led by Wa’ed Ventures

The company will increase its presence in Saudi Arabia by opening an office in Dhahran to develop industrial vision-based solutions

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

CybelAngel

Digital risk protection platform CybelAngel expands to UAE and Saudi Arabia

The company’s regional director of Middle East and Turkey, Adnan Taha, will oversee its operations in the Middle East

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

Oracle Saudi

Oracle appoints Reham Almusa as country leader for Saudi Arabia

Almusa joined Oracle in April 2021 as cloud applications director, following which she was given the additional responsibility of leading the brand’s public sector business in the kingdom

Google Cloud

Google Cloud inks sustainability agreement with Saudi government authorities

Google Cloud with SDAIA, MEWA and Climate Engine will launch the Earth Observation and Science Programme which will help address environmental, water and agricultural challenges

Saudi IBM

Saudi govt authorities, IBM join forces to reduce kingdom’s emissions

IBM will work with SDAIA to identify high value applications of artificial intelligence and machine learning to solve challenges in public and private sector organisations

On fast track with Saudi Arabia’s first professional female racing driver

On the fast track with Saudi Arabia’s first professional female racing driver

Saudi Arabia’s first professional female racing driver and founder of Theeba motorsport, Reema Juffali, tells us about her journey, memorable wins and her ultimate goal– 24 hours of Le Mans

UAE, world leaders offer tributes to Queen Elizabeth II

Britain’s longest reigning monarch passed away on September 8, at age 96

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

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

Dubai DESC

Oracle’s Dubai cloud region receives DESC certification

Oracle Cloud Infrastructure operates two cloud regions in the UAE – Dubai and Abu Dhabi, providing customers with business continuity and disaster recovery capabilities

Stake

Dubai’s property investment platform Stake raises $8m in pre-series A funding

The company plans to invest the new capital in advancing its product and technology, upscaling its brand, and expanding operations across the region

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

Saudi Arabia

Wizz Air to launch 20 new routes between Saudi Arabia, Europe

The new flights will connect the Saudi capital as well as major cities with European destinations including Bucharest, Budapest, Milan, Naples, Rome, Venice and Vienna

Saudi Arabia

Saudi Arabia’s oil exports surged to a fresh high in June

The country’s top trading partner during June was China with exports reaching SAR21bn riyals

Agritech UAE

Agritech startup Graze-it launches operations in UAE, Saudi Arabia

By growing sustainable animal feed directly at the consumer’s site, the company aims to solve a major food security challenge in the Middle East

Travel demand returns GettyImages-1297964713

UAE, Saudi Arabia travellers prefer premium travel experiences, reveals study

According to Collinson, the most popular travel benefits among respondents were loyalty rewards, airport lounge access and frequent flyer rewards

ACWA Power to build wind farm in uzbekistan_e1653625930619

ACWA Power, Uzbekistan ink three key energy agreements worth $12bn

The projects initiated will support Uzbekistan’s aim to diversify its energy mix, as it targets 8 GW and 12 GW of solar and wind capacity by 2026 and 2030, respectively

World of Farming

UAE venture builder hatch & boost launches agritech startup World of Farming

World of Farming is introducing a first-of-its-kind hydroponic fodder farming methodology for the meat and dairy industry to the Middle East market

Dubai’s DXB records 27.9 million passengers in first six months of the year

DXB handled a total of 154,993 flight movements in H1 2022, up 55.9 per cent compared to the first half of 2021

Al Othaim family

Saudi wealth fund buys $7bn US stocks amid recession fears

The wealth fund is boosting its investments in equities as Saudi Arabia’s income from oil almost doubled in the second quarter

Global cybersecurity Forum

Saudi’s NCA to host Global Cybersecurity Forum in November

Two-day forum will be held in Riyadh bringing together policymakers, governments, business, cybersecurity experts, academia and NGOs

Saudi permits all types of visa holders to perform Umrah

The decision coincides with the start of the Umrah season for the current year

Saudi mining giant Ma’aden reports Q2 net profit increase of 265% to reach SAR4bn

Saudi mining giant Ma’aden reports H1 net profit increase of 232% to reach SAR6.2bn

The mining company reported that sales rose 95 per cent quarter-on-quarter to SAR11.9bn, bringing H1 2022 sales to SAR20.8bn, an 80 per cent improvement on H1 2021