Saudi Arabia
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.
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.
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.
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 Aramco's Amin Nasser: homegrown engineer who reached the top
Aramco CEO Amin Nasser's leadership pivotal for Saudi's stability. Managed response to 2019 attacks, restoring operations swiftly. Supports economic diversification and revenue flow for Saudi stability.
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.
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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 plans big investment in Central Asian hub of Uzbekistan
The 3rd Tashkent International Investment Forum (TIIF) attracted significant global investor interest, resulting in agreements worth $26.6 billion. The event saw over 2.5 thousand participants from 93 countries. Key highlights included presentations of regional energy projects and agreements signed for various projects. These included infrastructure development, wind farms, heat supply system modernization, sugar production, textile manufacturing, and food processing. The forum also discussed economic development, supporting small and medium-sized businesses, retail trade challenges, digital technology integration, and urban planning.
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.
Saudi Arabia's Vision 2030 projects to be adjusted as needed, finmin says
Saudi Arabia has adjusted Vision 2030 plan for economic growth quality, focusing on global collaboration, tourism, private sector expansion, and job creation per Finance Minister Mohammed Al Jadaan at World Economic Forum in Riyadh.
