TOKYO/SINGAPORE: Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in US commercial stockpiles outweighed supply fears from heightened tensions in the Middle East, according to Reuters. Brent futures for June fell 40 cents, or 0.44 percent, to $89.62 a barrel by … Read more
RIYADH: Saudi historical destination developer Diriyah Co.’s CEO, Jerry Inzerillo, has been appointed as a UN Tourism ambassador, joining an elite group including Lionel Messi, Georgio Armani, and Placido Domingo. The appointment was made during the global body’s first-ever sustainability week, being held in New York from April 15 to 19, according to a press … Read more
RIYADH: Saudi giga-project NEOM’s workforce is poised to surpass 200,000 as the Kingdom’s ambitious $500 billion-city enters its busiest development phase. This significant increase in labor marks a crucial milestone in the Vision 2030 initiative, underscoring the project’s pivotal role in reshaping the Saudi economy. NEOM, currently being built in the northwest of Saudi Arabia, has … Read more
Majid Al-Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, released its annual “State of the UAE Retail Economy” report for 2023. The report, which highlights key economic data, trends and insights into consumers’ behavior patterns, spending habits, and sentiment across the country, revealed that the UAE … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index posted an annual gain of 1,811.46 points, or 17.11 percent, to reach 12,401.56 at the end of the first quarter of 2024, official data showed. According to the report released by Saudi Exchange, the highest close level of the main index in the first quarter was on March … Read more
RIYADH: Clean hydrogen is one of the most promising ways to achieve sustainable decarbonization and combat climate change, a top official has told Arab News. Wesam Al-Ghamdi, CEO of NEOM Green Hydrogen Co. said that once combusted the fuel produces only water, thus making it totally carbon-free in its end use. In its 2023 annual … Read more
Watchdog calls on Sudanese authorities to lift suspension on Al Arabiya, Al Hadath, Sky News Arabia LONDON: Media watchdogs have called on Sudanese authorities to lift the suspension imposed on three Gulf networks earlier this week. On Tuesday, Sudan’s state news agency announced that the Ministry of Culture and Information had suspended the operations of … Read more
At the end of September, 2023, Domingos Soares De Oliveira was announced as the new CEO of Ittihad Club Company, and in February he was named as part of the club’s new three-man Sporting Committee, alongside Sporting Director Ramon Planes and coach Marcelo Gallardo. The moves look to give the reigning Saudi Pro League champions … Read more
The board of Saudi National Bank has appointed Tareq Al-Sadhan as CEO starting May 1, 2024. Prior to his new role, Al-Sadhan was president and CEO of Riyadh Bank since April 2019. From January 2018 to March 2019, he served as the bank’s senior executive vice president. Al-Sadhan also worked for KPMG Saudi Arabia, where … Read more
RIYADH: NEOM CEO Nadhmi Al-Nasr has been ranked third in Forbes Middle East’s “Most Impactful Real Estate Leaders” list, underlining the Kingdom’s prominence in the sector. The giga-project chief was placed beneath Mohamed Alabbar from UAE-based Emaar Properties and Talal Al-Dhiyebi, CEO of Abu Dhabi-headquartered Aldar Properties. The Kingdom had the second-most entries on the list, with … Read more