SAUDI ARABIA
FirstCry logs 17% rise in revenue, lower loss in Q1 FY25
Floods in the UAE and early Eid, which saw festival season purchases being advanced to early April, hit order volumes for Brainbees Solutions, the parent firm of the baby and mother care product retailer. However, order volumes are now back on track, said CEO Supam Maheshwari.
CAG signs pact with General Court of Audit of Kingdom of Saudi Arabia
The Comptroller and Auditor General of India (CAG) and the General Court of Audit of Saudi Arabia have signed a Memorandum of Understanding (MoU) to enhance cooperation and share expertise in public sector auditing.
Shah Rukh, Adani, Ambani in Hurun Rich List: Wealth of Indian billionaires more than GDP of Saudi Arabia & Switzerland
Hurun India Rich List: The cumulative wealth of Hurun India rich listers has risen to INR 159 lakh crore, surpassing the GDP of Saudi Arabia and Switzerland. India has added 75 new billionaires in the past year, bringing the total to 334. The list also includes 1,539 individuals with wealth of at least Rs 1,000 crore.
Visa applications in India surpass pre-pandemic volumes in first half of 2024
In the first half of 2024, visa applications in India surpassed pre-pandemic levels for the first time since COVID-19, exceeding H1 2019 volumes by 2%, with an 11% increase from the same period in 2023, according to VFS Global.
Telangana man and colleague die in Saudi Arabia desert after running out of fuel and mobile battery
A 27-year-old man from Telangana and his Sudanese colleague died from dehydration after being stranded in Saudi Arabia's Rub' al Khali desert. Their GPS signal failed, and they ran out of battery and fuel while on a mission to repair a cellular tower. Their bodies were found on a prayer rug.
Ukraine's Zelenskiy says he would support India hosting second summit on peace
Ukrainian President Volodymyr Zelenskiy announced ongoing discussions with several countries about hosting a second peace summit. He expressed support for India as a potential host but emphasized the need for the host country to join the peace summit communique. Zelenskiy also discussed these points with Indian Prime Minister Narendra Modi during their recent conversation.
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Neymar willing to 'pay a price' to join Barcelona? Here are some interesting details
Recent reports have suggested that Brazilian ace forward Neymar is desperately attempting to come back to Barcelona from Saudi Arabian club Al-Hilal. Journalist Joan Fontes has ensured Neymar makes the headlines in recent days, with his claims that the football star is trying to return to the Catalan club 'at any cost'.
Billionaire in 3 seasons? Real Madrid star Vinicius Junior weighing in on Euro 350 million Saudi offer
Real Madrid's ace forward Vinicius Jr. is one of the leading footballing icons of the world currently and he is being circled by Saudi Arabia, in order to make him come onboard the country's cash-rich state project, backed by the Saudi Public Investment Fund. Here's how rich Vinicius will get if he accepts this offer.
US to lift ban on offensive weapons sales to Saudi Arabia
The Biden administration has decided to lift a ban on U.S. sales of offensive weapons to Saudi Arabia, the State Department announced on Friday. This move reverses a three-year-old policy aimed at pressuring the kingdom to end its involvement in the Yemen conflict.
Saudi Arabia calls Hamas political bureau chief's killing 'blatant violation' of Iran's sovereignty
Saudi Arabia has denounced the killing of Hamas political bureau chief Ismail Haniyeh as a "blatant violation" of Iran's sovereignty. The condemnation came during an extraordinary Organisation of Islamic Cooperation (OIC) meeting in Jeddah. The OIC holds Israel responsible for the attack on Haniyeh in Tehran, which has led Iran to vow retaliation. The escalation, coupled with recent regional conflicts, has heightened tensions, prompting calls for de-escalation from the international community.
Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
Saudi Aramco reported half-year profits of $56.3 billion, a decline from the previous year attributed to lower crude oil volumes and refining margins. Revenue rose to $220.7 billion. The company plans dividends of $31.1 billion for the second quarter, aiming for an annual dividend above $124 billion.
Saudi Arabia raises Sept light crude prices for Asia less than expected
Saudi Arabia raised the price of its flagship Arab light crude to Asia for the first time in three months, raising it by 20 cents to $2 a barrel above the Oman/Dubai average. The price was a two-month high, but less than the market had expected. The producer also raised prices for other light grades sold to Asia but kept Arab Medium and Arab Heavy crude prices unchanged.
Esporting spirit: Indians eye success at 2025 Olympic Esports Games in Saudi Arabia
Akshaj Shenoy and his team competed in the debut of esports at the Asian Games in Hangzhou, finishing fifth in League of Legends. The International Olympic Committee plans to introduce Olympic Esports Games in 2025, recognizing the growing interest. Indian esports athletes, despite challenges like financial support and late start, are hopeful. While countries like China and South Korea excel, India's promising talent needs better coaching and opportunities. This evolving landscape in esports highlights the need for improved infrastructure and training to compete globally.
View: The dangerous game Iran is playing
The article discusses the complex dynamics of the Israel-Hamas conflict driven by Iranian efforts to challenge U.S. influence in the Middle East. Netanyahu's decisions, including targeted assassinations, are analyzed within the broader geopolitical landscape. The U.S. has been building alliances to isolate Iran and stabilize the region, with Netanyahu's next move crucial for future outcomes.
L&T wins multiple orders of Rs 2500-5000 crore to build grids for clean energy transition
L&T's PT&D business won significant domestic and international contracts to construct substations and transmission lines. These projects are crucial for India's renewable energy zone and improving power infrastructure in Saudi Arabia and the UAE. The new orders fall in the 'Large' category, valued between Rs 2,500 to Rs 5,000 crore.
India and Saudi Arabia hold first meeting of High-Level Task Force on investments
The High-Level Task Force is a special body to facilitate bilateral investments following the decision taken by PM Narendra Modi and Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud during the latter's state visit to India in September 2023. It comprises senior officials from both sides, including the CEO of Niti Aayog, Secretaries for Economic Affairs, Commerce, MEA, DPIIT, Petroleum and Natural Gas, and Power from India.
Yemenia Airways to resume flights to Cairo and India from Sanaa
Yemenia Airways will resume commercial flights from Sanaa to Egypt and India as part of a deal between warring sides in Yemen's civil war. Services to Egypt will start on Tuesday and to India on Sunday. The airline has scheduled return flights to Cairo daily and to India twice weekly. This comes after an an agreement announced by the U.S. envoy for Yemen to end the flight suspension since late 2016 due to the conflict.
Akasa Air commences operations in Jeddah, strengthens its presence in Saudi Arabia
Akasa Air has launched operations to Jeddah from Mumbai and Ahmedabad, offering direct flights.The first flight departed Mumbai at 7:35 pm IST on July 15 and arrived at Jeddah at 10:25 pm AST. The airline now operates daily direct flights between Jeddah and Mumbai, with plans to increase to 12 flights per week by July 21. It begin flights connecting Jeddah and Ahmedabad starting July 20.
IOC and Saudi Arabia agree on 12-year deal for video gaming Esports Olympics
Saudi Arabia and the IOC have struck a 12-year commercial deal to host the first Esports Olympics, aiming to diversify the kingdom's economy away from oil dependency. The announcement was made during the Esports World Cup in Riyadh, part of the Vision 2030 program led by Prince Mohammed bin Salman. The IOC plans to attract young audiences with video gaming Olympics, pending approval at their July meeting in Paris.
Essar awaits final approvals to start work on $4.5 billion steel plant in Saudi Arabia
The oil-rich kingdom is eyeing becoming an electric vehicle manufacturing hub, manufacturing more than 3 lakh cars annually by 2030. Essar is looking to tap into the demand for steel for such cars as well as for other consumer goods industry.
68 Indians among 900 Hajj pilgrims who have lost their lives in Mecca, says Saudi diplomat
Friends and family are searching for missing hajj pilgrims as the death toll from this year's pilgrimage, carried out in extreme heat, has risen to over 900. The scorching temperatures, reaching 51.8 degrees Celsius (125 Fahrenheit) in Mecca, have raised concerns for the well-being of the 1.8 million participants, many of whom are elderly or infirm. The majority of the deaths are reportedly due to heat-related causes, with Egyptians accounting for a significant portion of the casualties.
More than 1.5 million foreign Muslims arrive in Mecca for annual Hajj pilgrimage
Muslim pilgrims are flocking to Mecca for the annual Hajj pilgrimage, with over 1.5 million foreign pilgrims already in Saudi Arabia. The event is expected to surpass pre-pandemic levels, with participants from around the world. Pilgrims are performing rituals at the Grand Mosque, preparing for the symbolic stoning of pillars at Mina.
Saudi prince 'reassures' cabinet on king's health: State media
Crown Prince Mohammed bin Salman reassures everyone about King Salman's health amid a lung infection. The king is undergoing a treatment programme with antibiotics for a high temperature and joint pain. The Royal Court disclosed the information, leading to the cancellation of Prince Mohammed's trip to Japan.
In Saudi Arabia, all-women rock band jams it out
The performance by Seera, an all-women psychedelic rock band that blends traditional Arabic melodies with psychedelia, would have been unthinkable years earlier. But as Saudi Arabia liberalises some aspects of its society, Seera represents the way women now are finding their voice.
Saudi Arabia's national carrier orders more than 100 new Airbus jets as it ramps up tourism push
Saudia said it is increasing flights and seat capacity across its existing 100-plus destinations to meet the country's goal of attracting more than 150 million tourists by 2030. In February, Airbus reported healthy results for its commercial aircraft business in its latest annual earnings report and set a target of 800 commercial aircraft deliveries, 67 more than in 2023.
How might a US-Saudi civil nuclear deal work?
White House National Security Adviser Jake Sullivan to visit Saudi Arabia to discuss a civil nuclear cooperation agreement, key for U.S.-Saudi relations and Israeli-Saudi reconciliation under Section 123 of the U.S. Atomic Energy Act of 1954.
L&T arm opens new manufacturing facility in Saudi Arabia
Larsen & Toubro's subsidiary, L&T Valves Ltd, inaugurates a new manufacturing facility in Saudi Arabia, strategically located in Al Jubail. The move aims to bolster local production capabilities and align with Saudi Vision 2030. The facility will cater to the increasing demand in the Middle East and Africa, strengthening collaboration with Saudi Arabia
Saudi Arabia plans big investments in Central Asian hub of Uzbekistan
The 3rd Tashkent International Investment Forum (TIIF) in Uzbekistan attracted over 2.5 thousand participants from 93 countries, leading to the signing of agreements worth $26.6 billion. The event highlighted the importance of regional energy projects, including the construction of Kambarata HPP-1 and Yavan HPP, for the entire region. As a result, agreements totaling $26.6 billion were signed, demonstrating the high investment attractiveness of Uzbekistan and the success of the forum.
Saudi Arabia posts budget deficit of $3.30 billion in first quarter
Saudi Arabia faces a Q1 2024 deficit of 12.387 billion riyals due to lower oil revenues. The kingdom plans giga-projects for economic diversification, with adjustments expected in the annual budget to address economic challenges.
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