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#Saudi Banks, #AbuDhabi Stocks Gain Amid Earnings: Inside EM - Bloomberg

Saudi Banks, Abu Dhabi Stocks Gain Amid Earnings: Inside EM - Bloomberg Shares in Saudi Arabia and Abu Dhabi led gains in the Middle East as more companies posted strong second-quarter earnings.The Saudi Tadawul All Share Index rose 0.6% at 11:45 a.m. in Riyadh, with the banks sub-index gaining 1.2% after multiple lenders reported results. Meanwhile, Abu Dhabi’s benchmark ADX General Index rose as much as 2.6%, up the most since May.Riyad Bank climbed 0.6% after reporting a record profit. The...
Tags: Travel, Saudi Arabia, Israel, Bloomberg, Egypt, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Kuwait, Index, Riyadh, Emaar Properties, DIB, Boutros


#Saudi economy minister: Opportunities will exceed $3trln within 5 years | ZAWYA MENA Edition

Saudi economy minister: Opportunities will exceed $3trln within 5 years | ZAWYA MENA Edition Minister of Economy and Planning Faisal Al-Ibrahim said that there is a lesson from the COVID-19 pandemic that the use of solutions based on the Fourth Industrial Revolution revealed the reality of the widening gap between the leading economies and the rest of the world.“Despite the significant progress made since the launch of the Kingdom’s Vision 2030 and during the pandemic, the catalyst for further...
Tags: Travel, Saudi Arabia, Kingdom, Riyadh, Fourth Industrial Revolution, UNCTAD, Rupert Neil Bumfrey, COVID, Faisal Al Ibrahim, Global Innovation Index, Fourth Industrial Revolution Center


#SaudiArabia plans $15bln technology fund with private investors- report | ZAWYA MENA Edition

Saudi Arabia plans $15bln technology fund with private investors- report | ZAWYA MENA Edition A public-private partnership will launch a $15 billion technology fund to advance the digital infrastructure in Saudi Arabia, Arab News reported on Thursday quoting Haytham AlOhali, vice minister of the Ministry of Communications & Information Technology (MCIT).The minister made the announcement on Wednesday, during the Saudi 4th Industrial Revolution (4IR) conference held in Riyadh, the report said.T...
Tags: Travel, Saudi Arabia, Kingdom, Telecom, Riyadh, Rupert Neil Bumfrey, Haytham AlOhali, AlOhali


Summer Re-runs: On Turning ‘Sayyidat al-Qamr’ into ‘Celestial Bodies’ and the Tyranny of the New

Jokha Alharthi’s Celestial Bodies won the 2019 Man Booker International, in Marilyn Booth’s translation. In the spring of 2019, Booth talked with ArabLit about the title, how she came to translate the novel, her process, and what “should be” in translation: We re-run this short “On Translation” interview ahead of the release of Alharthi’s The Bitter Orange Tree, forthcoming in Booth’s translation next year. Whose decision was the title? Why Celestial Bodies?   Marilyn Bo...
Tags: Books, Interviews, Oman, Edinburgh, Riyadh, Daoud, Sanat, Alia Mamdouh, Celestial Bodies, Jokha Alharthi, Hoda Barakat, Marilyn Booth, Alharthi, Jokha, On Translation, Sayyidat al-Qamr


#SaudiArabia Halts Sale of One of World’s Biggest Water Plants - Bloomberg

Saudi Arabia Halts Sale of One of World’s Biggest Water Plants - Bloomberg Saudi Arabia has halted the sale of one of the world’s biggest desalination plants citing the impact of the coronavirus pandemic on the deal, which had attracted interest from investors including France’s Engie SA and Riyadh-based Acwa Power.The Ras Al Khair desalination and power plant, on Saudi Arabia’s east coast, had cost more than $7 billion to build. The suspension is a setback for the kingdom’s privatization plan...
Tags: Travel, Japan, France, Saudi Arabia, India, Bloomberg, BNP Paribas, Financial Times, Riyadh, Marubeni Corp, Rupert Neil Bumfrey, NTPC Ltd, JERA Co, Mohammed al Jadaan, Engie SA, Ras Al Khair


OPEC+ Compromise Deal Still Favors #SaudiArabia and #Russia - Bloomberg

OPEC+ Compromise Deal Still Favors Saudi Arabia and Russia - Bloomberg Saudi Arabia and Russia clinched a deal for an OPEC+ production increase by partly submitting to the United Arab Emirates’ demands for a more generous quota. But the compromise still leaves Riyadh and Moscow on top.Of all the adjustments agreed on Sunday to the cartel’s baselines -- the level from which each member’s cuts are measured -- the two largest OPEC+ members awarded themselves the biggest increases.While the UAE’s ...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Moscow, Uae, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, Russia Bloomberg, Russia Bloomberg Saudi Arabia


De facto #UAE leader arrives in #SaudiArabia amid tensions | Reuters

De facto UAE leader arrives in Saudi Arabia amid tensions | Reuters The United Arab Emirates' de facto ruler arrived in Saudi Arabia on Monday, state media said, at a time of tensions between the two Gulf allies that led this month to an open standoff over oil policy.Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan was met by Saudi Crown Prince Mohammed bin Salman in the capital Riyadh.A public dispute this month between Riyadh and Abu Dhabi disrupted policy setting by OPEC+, an oil produce...
Tags: Travel, Saudi Arabia, Opec, United Arab Emirates, Abu Dhabi, Uae, Gulf, Reuters, Riyadh, Mohammed bin Salman, Emirati, Mohammed bin Zayed Al Nahyan, Rupert Neil Bumfrey, Saudiarabia


De Facto UAE Leader Visits Saudi Crown Prince Amid Tensions

DUBAI (Reuters) -The United Arab Emirates' de facto ruler held talks in the Saudi capital Riyadh on Monday with Saudi Crown Prince Mohammed bin...
Tags: United Arab Emirates, Dubai, Reuters, Riyadh, Facto UAE


OPEC+ Calls Meeting for Sunday After Progress Toward Deal - Bloomberg

OPEC+ Calls Meeting for Sunday After Progress Toward Deal - Bloomberg OPEC+ has called a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output.The online conference of ministers is scheduled for 12 p.m. Vienna time, although one delegate cautioned that not every minister had yet confirmed attendance. Ministers from Saudi Arabia, Kuwait, the UAE and Oman met online on Saturda...
Tags: Travel, New York, Iraq, Opec, Vienna, United Arab Emirates, Oman, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Saudi Arabia Kuwait, Rupert Neil Bumfrey, UAE Baghdad


#UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+ - Bloomberg

UAE Closes In on Oil Output Deal to Resolve Standoff With OPEC+ - Bloomberg The United Arab Emirates has made significant progress in resolving its standoff with OPEC+, nearing a compromise that could give the country a more generous output limit next year and allow the whole group to pump more oil in the coming months.The talks, involving the UAE and Saudi Arabia, are still ongoing and any deal would need the support of other OPEC+ nations, according to delegates familiar with the discussions...
Tags: Travel, Saudi Arabia, Iraq, Opec, United Arab Emirates, Brent, Abu Dhabi, Uae, Gulf, Riyadh, International Energy Agency, Organization of Petroleum Exporting Countries, Rupert Neil Bumfrey, New York Last, OPEC Bloomberg, UAE Baghdad


Trade emerges as latest flashpoint in deepening #Saudi-#UAE rivalry | Financial Times

Trade emerges as latest flashpoint in deepening Saudi-UAE rivalry | Financial Times Trade threatens to become the latest flashpoint in the economic and strategic rivalry between Riyadh and Abu Dhabi and risks adding to tensions in the six-nation Gulf Co-operation Council after Saudi Arabia imposed new tariffs on imports from its neighbours.  The levies, which came into force this month, range from 3 to 15 per cent and apply to products made by any company based in its Gulf neighbou...


OPEC+ yet to make progress in resolving impasse, sources say | Reuters #SaudiArabia #UAE

OPEC+ yet to make progress in resolving impasse, sources say | Reuters OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said.Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a path to agreement, sources told Reuters. But a Russian source said on Monday a meeting this week was not...
Tags: Travel, Vladimir Putin, Saudi Arabia, White House, Russia, Opec, Joe Biden, United States, United Arab Emirates, Oman, Kremlin, Abu Dhabi, Reuters, Riyadh, Reuters OPEC, Rupert Neil Bumfrey


#Oman Leader’s Rare #SaudiArabia Visit Shows Region’s Shifts - Bloomberg

Oman Leader’s Rare Saudi Arabia Visit Shows Region’s Shifts - Bloomberg The sultan of Oman landed in Saudi Arabia on Sunday in the first visit by an Omani leader in over a decade, a sign of shifting alliances in the Persian Gulf as the kingdom reaches out to states with closer ties to regional rival Iran.Skyscrapers in the Saudi capital, Riyadh, were lit up in red and green, the colors of the Omani flag, to celebrate Sultan Haitham bin Tariq’s arrival. The visit to the city of Neom, where he w...
Tags: Travel, Saudi Arabia, Iraq, Qatar, Bloomberg, Iran, GCC, Middle East, United Arab Emirates, Oman, Uae, Mohammed, Gulf, North Africa, Riyadh, Mohammed bin Salman


#Dubai Firm Boosts #Saudi Healthcare Portfolio With Second Deal - Bloomberg

Dubai Firm Boosts Saudi Healthcare Portfolio With Second Deal - Bloomberg Dubai’s Foundation Holdings Co. bought a stake in a Saudi Arabia-based primary health chain, marking its second investment in the kingdom’s fast-growing market for medical care, and said it plans to list the firm in the next two years.The healthcare and education investment firm acquired 51% of Shifa Al Munthaza Polyclinic, Chief Executive Officer Abhishek Sharma said in an interview. Foundation Holdings plans to invest ...
Tags: Travel, Saudi Arabia, Healthcare, Middle East, Dubai, Riyadh, Spalding, Sharma, Rupert Neil Bumfrey, Shifa, Abhishek Sharma, Nomu, EFG Hermes Holding, Foundation Holdings, Bloomberg Dubai 's Foundation Holdings Co, Shifa Al Munthaza Polyclinic


#Saudi, #Dubai Stocks Slump On Reflation Trade Slowdown: Inside EM - Bloomberg

Saudi, Dubai Stocks Slump On Reflation Trade Slowdown: Inside EM - Bloomberg Shares listed in Dubai and Saudi Arabia extended a slump triggered by the pullback in the reflation trade globally due to factors including the effect of the delta strain on economic recovery. “The decline is linked to a partial unwind in the global reflation trade,” said Divye Arora, a portfolio manager at Daman Investments in Dubai “The trade was impacted by Fed making a hawkish tilt leading to yield curve flatteni...
Tags: Travel, Saudi Arabia, Bloomberg, Dubai, Fed, Riyadh, Emirates NBD, Air Arabia, NCB Capital, Rupert Neil Bumfrey, Dubai Islamic Bank, Almarai, Daman Investments, Divye Arora, Nauman Khan, Saudi Research and Media


Sultan Haitham's visit set to deepen Omani-#Saudi ties, open up new vistas of cooperation | ZAWYA MENA Edition

Sultan Haitham's visit set to deepen Omani-Saudi ties, open up new vistas of cooperation | ZAWYA MENA Edition For over half a century, relations between the governments of Saudi Arabia and Oman have been characterized by cooperation, mutual respect and understanding on various regional and international issues.Likewise, connections at the people-to-people level run deep thanks to bonds of history, shared Arab customs and traditions, and a common Gulf Arab heritage.The two countries coordinate ...
Tags: Travel, Saudi Arabia, Kingdom, Oman, Un, Riyadh, Gulf Cooperation Council GCC, Rupert Neil Bumfrey, Saudi Press Agency SPA, Sultan Haitham bin Tariq, Sultan Haitham, Sayyid Shihab bin Tarik Al Said, Sayyid Hamoud bin Faisal Al Busaidi, Sayyid Badr bin Hamad bin Hamoud Al Busaidi


Opec rift is a foretaste of things to come | Financial Times #UAE #SaudiArabia

Opec rift is a foretaste of things to come | Financial Times Disagreements between Opec members have been a feature of the oil cartel since it started just over 60 years ago.  But what has happened in the past week stands out not just because it came against a backdrop of rising prices or because it pitted traditional allies Saudi Arabia and the UAE against each other. It stands out because it is a preview of what is to come.  On the surface, members fell out over how the group c...
Tags: Travel, Saudi Arabia, Russia, Opec, Moscow, Uae, Riyadh, Rupert Neil Bumfrey, Financial Times UAE


Why the OPEC+ Crisis Has Sparked an Oil Price Frenzy: QuickTake - Bloomberg

Why the OPEC+ Crisis Has Sparked an Oil Price Frenzy: QuickTake - Bloomberg A year after rescuing the global oil industry from the ravages of the pandemic, the OPEC+ alliance has been thrown again into disarray. The group of crude producers has split at its core, after a bitter feud flared up between long-standing allies Saudi Arabia and the United Arab Emirates over how quotas should be calculated. Prices have swung as their standoff threatens to deprive markets of the supplies needed to feed...
Tags: Travel, Saudi Arabia, Russia, Opec, Joe Biden, Middle East, United Arab Emirates, Abu Dhabi, Uae, Riyadh, Mohammed bin Zayed, Petroleum Exporting Countries, Rupert Neil Bumfrey, QuickTake Bloomberg, Dhabi


#Saudi-#UAE still at impasse as #Russia steps in to rescue OPEC+ deal | Reuters

Saudi-UAE still at impasse as Russia steps in to rescue OPEC+ deal | Reuters Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources said, with OPEC and its allies yet to set a date for their next oil policy meeting.Disagreement between the two Gulf OPEC allies was publicly exposed last week, with Riyadh and Abu Dhabi at odds over a proposed deal that would have brought more o...
Tags: Travel, Saudi Arabia, Russia, Opec, United Arab Emirates, Abu Dhabi, Uae, Reuters, Riyadh, Reuters Russia, Rupert Neil Bumfrey, Petroleum Exporting Countries OPEC Russia


Apple to Open Apple Developer Academy in Saudi Arabia, First in the MENA Region

Apple plans to open its first Apple Developer Academy headquarters for the Middle East and North African region (MENA) in Riyadh, the capital city of Saudi Arabia, reports Saudi Gazette. The Apple Developer Academy is Apple's strategic program to ensure that students interested in technology receive proper training for programming across all of its platforms. Students are taught how to write and manage iOS, macOS, tvOS, and watchOS apps, and are all taught under a curriculum created by Apple...
Tags: Apple, Saudi Arabia, Middle East, Brazil, Mena, Riyadh, Saudi Federation for Cybersecurity Programming, Apple Developer Academy, Saudi Arabia First, Saudi Arabia Apple, Tuwaiq Academy, Nourah Bint Abdulrahaman, Unversity Saudi Arabia, Hamad Al Sheikh, Faisal Al Khamisi


#SaudiArabia and the #UAE Can't Afford Not to Be Friends Despite Their OPEC Tiff - Bloomberg

Saudi Arabia and the UAE Can't Afford Not to Be Friends Despite Their OPEC Tiff - Bloomberg The Middle East’s most meaningful alliance has endured territorial disputes, succession crises and the pressures of war in the neighborhood. Now the partnership between Saudi Arabia and the United Arab Emirates is being tested by a more existential challenge: economics. It will survive because the two Gulf Arab countries have many common interests, especially in the spheres of geopolitics and security: ...
Tags: Travel, Saudi Arabia, Qatar, Turkey, Iran, Middle East, Islam, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Muslim Brotherhood, Uae, Riyadh, Mohammed bin Salman, Mohammed bin Zayed


Airline Body IATA to Open Saudi Office but Denies It Will Be Regional HQ

CAIRO (Reuters) - Saudi Arabia said on Wednesday that global airlines industry body IATA had agreed to open a regional headquarters in Riyadh but...
Tags: Cairo, Riyadh, IATA, Reuters Saudi Arabia


Airline Body to Open Saudi Office but Denies It Will Be Regional HQ

CAIRO (Reuters) - Saudi Arabia said on Wednesday that global airlines had agreed to open a regional headquarters in Riyadh but the industry's main...
Tags: Cairo, Riyadh, Reuters Saudi Arabia


OPEC+ in Crisis as Specter of Harmful Infighting Looms Again - Bloomberg video

OPEC+ in Crisis as Specter of Harmful Infighting Looms Again - Bloomberg OPEC+ was plunged into crisis as a worsening fight between Saudi Arabia and the United Arab Emirates blocked an oil-supply increase.What happens next will determine whether the breakdown of talks -- which sent Brent crude climbing toward $80 a barrel -- could escalate into a conflict as bitter and destructive as last year’s price war.At stake is the stability of the global economic recovery amid growing inflationary pre...
Tags: Travel, Saudi Arabia, Iraq, Opec, Bloomberg, United Arab Emirates, Abu Dhabi, Riyadh, Specter, Rupert Neil Bumfrey, Ihsan Abdul Jabbar, Bloomberg OPEC


#SaudiArabia Plans $147 Billion Expansion for Transport Sector - Bloomberg

Saudi Arabia Plans $147 Billion Expansion for Transport Sector - Bloomberg Saudi Arabia plans to invest 550 billion riyals ($147 billion) in transport and logistics over the next nine years as Crown Prince Mohammed bin Salman looks to turn the kingdom into a global aviation hub.About 35% of that spending will come from the government and the rest from the private sector as officials launch a new international airline, expand airports, build a broader train network and explore new technologies,...
Tags: Travel, Saudi Arabia, Hyperloop, Jeddah, Riyadh, Mohammed bin Salman, Rupert Neil Bumfrey, Al Jasser, Billion Expansion for Transport Sector Bloomberg, Saleh Al Jasser, Riyadh Pushing


Analysis: OPEC disagreement lays bare growing #UAE-#Saudi economic rivalry | Reuters

Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry | Reuters Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan receives Saudi Crown Prince Mohammed bin Salman at the Presidential Airport in Abu Dhabi, United Arab Emirates November 27, 2019. WAM/Handout via REUTERS Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only lo...
Tags: Travel, Saudi Arabia, Opec, Qatar, Iran, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Yemen, Amir Khan, Uae, Gulf, Reuters, Riyadh, Mohammed bin Salman


OPEC+ Crisis Deepens as #SaudiArabia Refuses to Budge - Bloomberg video

OPEC+ Crisis Deepens as Saudi Arabia Refuses to Budge - Bloomberg Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.The bitter clash has forced OPEC+ to halt talks twice already, with the next meeting scheduled for Monday, putting markets in limbo as oil continues its inflationary surge above $75 a barrel. With the cartel discussing...
Tags: Travel, Russia, Opec, United Arab Emirates, Abu Dhabi, Riyadh, Bloomberg Television, Abdulaziz, Rupert Neil Bumfrey, Abdulaziz bin Salman, Budge Bloomberg, Saudi Arabia Refuses, Budge Bloomberg Saudi Arabia


#SaudiArabia plans second national airline - by @Ahmed Al Omran - @RiyadhBureau

Saudi Arabia plans second national airline - by Ahmed Al Omran - Riyadh Bureau Saudi Crown Prince Mohammed bin Salman has announced plans to launch a second national airline as part of a broader push to turn the kingdom into a hub for transport and logistics to help diversify the economy and decrease dependence on oil revenues. The announcement came Tuesday shortly after the cabinet, chaired by his father the king, approved renaming the “Ministry of Transport” to “Ministry of Transport and Log...
Tags: Travel, Saudi Arabia, Kingdom, Riyadh, Mohammed bin Salman, Ministry of Transport, Rupert Neil Bumfrey, Public Investment Fund, Al Omran, Ahmed Al Omran Riyadh Bureau, Ministry of Transport and Logistic Services, National Transport and Logistics Strategy


ACWA Power Gets #Saudi Approval to Offer 11.1% Stake in IPO - Bloomberg

ACWA Power Gets Saudi Approval to Offer 11.1% Stake in IPO - Bloomberg Saudi Arabia’s Capital Market Authority approved an application by ACWA Power, the kingdom’s renewable energy leader, to sell an 11.1% stake in an initial public offering.ACWA Power, also known as International Co. for Water and Power Projects, will offer 81.2 million shares in the IPO, the market authority said in a statement Wednesday. The regulatory approval is valid for six months.The kingdom’s sovereign wealth fund hol...
Tags: Travel, Ipo, Middle East, Mohammed, Riyadh, Saudi Aramco, Mohammed bin Salman, ACWA Power, Rupert Neil Bumfrey, Capital Market Authority, IPO Bloomberg, ACWA Power Gets Saudi Approval to Offer, IPO Bloomberg Saudi Arabia, International Co for Water and Power Projects, Neom While Saudi Arabia


Former Saudi officials to be questioned about alleged links to 9/11 attackers

Depositions to form part of US families’ long-running caseFifteen of 19 hijackers in 2001 were Saudi nationalsFormer Saudi officials will be questioned about their alleged links to the 9/11 attacks in court depositions this month by lawyers acting for families of the victims, who view it as a breakthrough in efforts to prove a link between Riyadh and the hijackers.The families are seeking to prove that Saudi nationals helped support two of the 9/11 hijackers, Khalid al-Mihdhar and Nawaf al-Hazmi...
Tags: California, Washington, Saudi Arabia, US, US news, September 11 2001, Riyadh, Nawaf al Hazmi, Khalid al Mihdhar