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  • Saudi Arabia seeks bids for Jubail 4 & 6 desalination project

    Saudi Water Partnership Company (SWPC) has invited expressions of interest (EoIs) from leading developers to finance, build, operate and maintain a key seawater reverse osmosis (SWRO) desalination water project near Jubail Industrial City. The desalination plant will be located 18 km south of Jubail Industrial City in the kingdom, adjacent to the existing plant units (Jubail Phase 1, Jubail Phase 2, Jubail 3A & 3B), in the Eastern Province of the kingdom.

  • Saudi Arabia seeks bids for Jubail 4 & 6 desalination project

    Saudi Water Partnership Company (SWPC) has invited expressions of interest (EoIs) from leading developers to finance, build, operate and maintain a key seawater reverse osmosis (SWRO) desalination water project near Jubail Industrial City. The desalination plant will be located 18 km south of Jubail Industrial City in the kingdom, adjacent to the existing plant units (Jubail Phase 1, Jubail Phase 2, Jubail 3A & 3B), in the Eastern Province of the kingdom.

  • Wizz Air Eyes Saudi Arabia With 2 New Routes

    The low-cost carrier has been noticeably scaling up its operations in the Kingdom through the latter half of the year following the signing of a Memorandum of Understanding (MoU) with the country’s Ministry of Investment in May. Twenty-three routes have been announced so far, including the freshly launched Rome Fiumicino (FCO) to Riyadh’s King Khalid International Airport (RUH) and Milan Malpensa (MXP) to King Abdulaziz International Airport (JED) in Jeddah.

  • Saudi Arabia Remains on Track to Be Fastest-Growing G-20 Economy

    Saudi Arabia’s gross domestic product expanded an annual 8.8% in the third quarter, keeping the oil-rich kingdom on track to be the fastest-growing among the Group of 20 economies this year. The final figure was slightly higher than a preliminary estimate of 8.6% due to further expansion in the non-oil economy, data from the General Authority for Statistics showed Sunday. All sectors displayed positive annual growth.

  • Saudi Arabia’s Construction Sector Remains the Strongest Across the MENA Region: JLL

    Saudi Arabia’s construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally, according to JLL’s Q4 2022 KSA Construction Market Intelligence Report. The Kingdom witnessed the highest value of project awards in 2022, demonstrating its commitment to driving economic diversification and transforming the country in line with its Vision 2030.

  • Saudi Arabia’s Construction Sector Remains the Strongest Across the MENA Region: JLL

    Saudi Arabia’s construction industry continues to lead the MENA region despite macroeconomic conditions impacting the sector globally, according to JLL’s Q4 2022 KSA Construction Market Intelligence Report. The Kingdom witnessed the highest value of project awards in 2022, demonstrating its commitment to driving economic diversification and transforming the country in line with its Vision 2030. Construction output growth in KSA is anticipated to rise by 3.2% in 2022, with a further annual average growth rate (AAGR) of 4% between 2023 to 2026 as indicated by Global Data.

  • Saudi Arabia aims to increase GCC co-operation, Crown Prince says

    Among the GCC leaders attending the meeting were Bahrain's King Hamad, Emir of Qatar Sheikh Tamim, Kuwaiti Crown Prince Sheikh Meshal Al Sabah and Deputy Prime Minister of Oman Sayyid Fahd Al Said. Egyptian President Abdel Fattah El Sisi and his delegation arrived on Thursday for Friday's China-Arab summit. They were welcomed at King Khalid International Airport by Prince Mohammed bin Abdulrahman, Deputy Governor of Riyadh.

  • Japan, Britain and Italy to build jet fighter together

    Japan, Britain and Italy are merging their next-generation jet fighter projects in a ground-breaking partnership spanning Europe and Asia that is Japan's first major industrial defence collaboration beyond the United States since World War Two. The deal, which Reuters reported in July, aims to put an advanced front-line fighter into operation by 2035 by combining the British-led Future Combat Air System project, also known as Tempest, with Japan's F-X programme in a venture called the Global Combat Air Programme (GCAP), the three countries said in a statement on Friday.

  • Trafigura Scores Low-Tax Windfall From Putin’s War in Ukraine

    It helped too that Trafigura – as almost every one of its rivals – pays very little in taxes. Last year, its effective tax rate was a paltry 12%, or about half what Wall Street banks pay in a normal year (about 20%-25%), and a lot less than Big Oil typically coughs up (closer to 30%).

  • Chart: Calmer Skies Ahead as Airlines Could Return to Profit in 2023

    The IATA expects global airline losses to amount to $6.9 billion this year, a significant improvement over 2020 and 2021, when the industry realized losses of $137.7 and $42.0 billion, respectively. Going forward, the IATA expects the aviation sector to return to profitability, albeit a much lower level compared to pre-pandemic times. Profits are expected to reach $4.7 billion next year, compared to $26.4 billion in 2019. Looking at the profit margin – 0.6 percent expected for 2024 vs. 3.1 percent in 2019 – reveals that there is still a lot of ground to cover for the industry to return to previous heights.