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  • Prince Faisal, Cleverly review aspects of historic Saudi-British partnership

    Saudi Arabia's Foreign Minister Prince Faisal bin Farhan met on Monday with his British counterpart James Cleverly during an official visit to the United Kingdom.During the meeting, the two sides reviewed aspects of the deep-rooted and historical Saudi-British partnership and ways to enhance and develop them in various fields.They also exchanged views on the Russian-Ukrainian crisis, in addition to the latest developments on the regional and international arenas, and efforts exerted to tackle them.

  • Saudi Arabia aims for 15% of public vehicles to be autonomous by 2030

    Saudi Arabia aims to have 15 per cent of its public transport vehicles as autonomous by 2030, as the kingdom seeks to be a leader in the future generation of transport, an official has said. The kingdom has also set a target of converting a quarter of goods transport vehicles into AVs by the start of the next decade, Omaimah Bamasag, deputy of transport enablement at the Transport General Authority, said in the latest edition of Arthur D Little's Autonomous Mobility Journal.

  • Explainer: What’s at stake in Turkey’s upcoming elections?

    President Recep Tayyip Erdogan faces the biggest test of his 20-year rule in May elections that will decide not only who leads Turkey but how it is governed, where its economy is headed and what role it may play to ease conflict in Ukraine and the Middle East. Erdogan has signaled the presidential and parliamentary votes will take place on May 14, three months after powerful earthquakes struck Turkey’s southeast, killing tens of thousands and leaving millions homeless.

  • Qatar Airways eyes rapid growth as travel demand rebounds

    Qatar Airways announced plans for rapid growth on Tuesday, as the travel industry recovers from the pandemic. Announcing objectives at the ITB tourism fair in Berlin, the Gulf carrier said it would add seven destinations, restore 11 others and boost the frequency of flights to 35 markets - marking a 21% rise in flights by July 2023, compared with the same month last year.

  • Chabahar Port faces budget constraints

    The modest budget for Chabahar port is seen by those tracking the project as an indication that these much-delayed equipment tenders are unlikely to be finalised soon, further delaying the start of full-fledged operations at the port that was given to India on a government-to-government (GoG) basis.

  • Saudi Arabia raises Arab Light crude price to Asia for 2nd month in April

    Top crude exporter Saudi Arabia raised prices for the flagship Arab light crude it sells to Asia for a second month in April, to $2.50 a barrel above the Oman/Dubai average, Aramco (2222.SE) said on Sunday night. The price hike - 50 cents a barrel higher than the March official selling prices - is in line with a Reuters survey, as signs of an economic rebound in China raised expectation for a pickup in fuel demand from the world's top oil importer.

  • Saudi Wealth Fund Said in Talks to Buy Rocco Forte Hotels Stake

    Saudi Arabia’s sovereign wealth fund is in talks to buy a stake in Rocco Forte Hotels Ltd. that could value the luxury hotels group at about €1.3 billion ($1.4 billion), people with knowledge of the matter said. The kingdom’s Public Investment Fund is frontrunner to acquire the holding, the people said, asking not to be identified discussing confidential information. PIF may buy a significant minority in Rocco Forte Hotels, including a stake held by a fund linked to Italy’s state-owned lender Cassa Depositi e Prestiti SpA, they said.

  • Russia embassy in Saudi Arabia invited Libya’s Haftar to visit aircraft carrier, documents reveal

    The visit by eastern Libyan warlord, Khalifa Haftar, to a Russian aircraft carrier in 2017 was coordinated by Russia's military diplomat in Saudi Arabia, leaked documents have revealed. In January 2017, Haftar visited the Admiral Kuznetsov, Russia's only aircraft carrier, as it sailed through the Mediterranean from the coast off Syria. He was given a tour there and spoke with Russian Defence Minister, Sergei Shoigu, via video conference from one of the ship's wardrooms. Following that visit for the purpose of discussing "issues of cooperation in the field of fighting terrorist groups in Libya and supplying the Libyan Arab Armed Forces with medical supplies", around 70 wounded soldiers from Haftar's forces were then flown via Egypt to Russia for medical treatment.

  • NEOM fundraising tour of Saudi Arabia hits Riyadh

    Discover NEOM, the nationwide tour that has travelled Saudi Arabia, made a last stop in Riyadh. Execs have been visiting cities in Saudi Arabia, highlighting the array of investment opportunities being offered by the Vision 2030 giga-project. The Riyadh leg of the tour followed on from successful visits to Jeddah and the Eastern Province.

  • Saudi sovereign fund PIF raises stake in Japanese film company Toei to 6%

    Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Toei Co Ltd (9605.T) to 6%, a filing showed on Friday, reflecting the sovereign wealth fund's growing exposure to the Japanese media industry. PIF's stake in the Tokyo-based film and animation firm has risen from 5% to 6.03%, according to the ownership report filed with Japanese regulators.