RIYADH: Saudi Arabia unveiled its first “State of Aviation” report, highlighting the sector’s contributions to the Kingdom’s economic growth, as industry leaders gathered for the Future Aviation Forum. Speaking at the opening ceremony of the three-day event in Riyadh, Saudi Minister of Transport and Logistic Services Saleh Al-Jasser emphasized the unprecedented importance of aviation. Saudi … Read more
RIYADH: Saudi energy giant Aramco has awarded a $7.7 billion contract for a major expansion of its Fadhili Gas Plant in the Eastern Province. The company announced in a statement that SAMSUNG Engineering Co, GS Engineering & Construction Corp, and Nesma & Partners were the winners of the increment project contract for the gas plant. … Read more
DHAHRAN: In Waad Janbi’s new animated short film, “Mom’s Spaghetti,” which aired this week on MBC Academy, the Saudi creative serves the audience a universal story of overcoming grief after the loss of a loved one, and the importance of feeding your soul — and your stomach. The animated short follows 14-year-old Amjad as he … Read more
Dubai real estate market soars amid record residential transactions in 2023: report RIYADH: Dubai’s real estate market experienced robust growth in 2023, reaching an all-time high with residential transactions totaling 118,993 units, a report from CBRE revealed. The report highlighted a 29.6 percent year-on-year increase in deal volumes, driven by growth in both the off-plan … Read more
RIYADH: Saudi Arabia plans to stimulate urban policies to ensure coordinated services for residents by 2025 as part of its efforts to boost quality of life, says top minister. Speaking during the opening remarks of the first Global Smart City Forum held in Riyadh, the Kingdom’s Minister of Municipal and Rural Affairs and Housing Majid … Read more
RIYADH: Riyadh will witness a surge in the entertainment, leisure and tourism sectors, with Diriyah Co. aiming to break ground on 11 new assets by the end of 2024. In the first step toward this endeavor, the company signed two agreements on the sidelines of the Public Investment Fund’s Private Sector Forum. Speaking to Arab … Read more
RIYADH: A stadium, an opera house, and an oceanarium are a step closer to being build in Jeddah after four construction contracts valued at SR12 billion ($3.2 billion) were signed. The Jeddah Central Development Co., backed by the Public Investment Fund, has agreed to develop three major architectural landmarks alongside the construction of infrastructure for … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index declined 189.34 points or 1.58 percent on Wednesday to close at 11,796.63. The total trading turnover of the benchmark index was SR8.6 billion, with 120 stocks advancing and 93 retreating. Similarly, the MSCI Tadawul decreased by 31.09 points, or 1.99 percent, to close at 1,530.39. In contrast, the … Read more
RIYADH: Aramco has awarded contracts worth more than $3.3 billion to Chinese company Sinopec and Spain’s Tecnicas Reunidas to build a gas facility in Saudi Arabia. According to a disclosure on the Spanish Stock Exchange, Sinopec will own 65 percent of the project and Tecnicas Reunidas will have a 35 percent share. The contract includes … Read more
RIYADH: Saudi Arabia’s annual tourist attraction, Riyadh Season, has surpassed its target of 12 million visitors before reaching the halfway point, according to a top official. Turki Al-Alshikh, chairman of the General Entertainment Authority, revealed in a post on X, formerly Twitter, that the event achieved the goal within 60 days. The carnival, among the … Read more