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  • Turkey, Middle East nations feel the pain of US interest rate hikes

    The combination of the local currency losing its value at the same time as the US dollar is gaining strength has led to imports becoming more expensive. “The total amount of the money spent on imports increased a lot because of this currency depreciation,” Çakmaklı said. Even if products are meant for domestic consumption, many of them require foreign goods to produce, meaning they ultimately will bear a higher price tag for Turkish consumers and increase the trade deficit.

  • Air Arabia Profits Double, As Low-Cost Airlines Lead Recovery In Middle East Aviation

    The Middle East’s largest low-cost carrier Air Arabia doubled its profits in the third quarter of the year, as the sector continues to show signs of strong momentum. In financial results for the three months ending September 30, the UAE-based airline said it had made a net profit of AED 416 million ($113 million), marking a 99% increase on the same period of 2021.

  • Saudi Ladies International raises purse to $5M to match men

    Two years after it first invested in women's golf, Golf Saudi is raising the prize money of the Aramco Saudi Ladies International from $1 million to $5 million, making it equal to the men's prize fund and the seventh-highest in all of women's golf. The Saudi Ladies International, with the Saudi Arabian sovereign wealth fund as a presenting sponsor, is part of the Ladies European Tour. The winner will get $750,000, more or equal to the entire purse of 27 tournaments on the LET. The Saudi International, now part of the Asian Tour, raised its purse to $5 million this year for the tournament won by Harold Varner III.

  • Tehran turns again to blame game, threatens Saudi Arabia as protests persist all over Iran

    Iran experts say the contradictory statements coming out of Tehran are a reflection of divided views among Islamic Republic leaders over whether to ease tensions with Saudi Arabia or to prioritise the foreign blame game, which they need amid persistent protests at home. Iran’s security and intelligence establishment, in particular, seems to be intent on creating a foreign front to distract attention from its inability to stem the persistent unrest.

  • A look into the journeys of trailblazing Saudi female Harley Davidson bikers

    Both Nour and Wedad, who asked to be identified by their first names, are currently the only Saudi female bikers in the Riyadh chapter of the Harley Owners Group’s ‘Ladies of Harley,’ a program sponsored by the H.O.G. to support and encourage women motorbike enthusiasts to become more active in the bikers community. The overall number of L.O.H members ranges between 50 and 60 and there are currently 2,000 members in the Riyadh chapter with the H.O.G in Saudi Arabia being the biggest in the GCC.

  • OPEC+ Will Remain Cautious on Oil Production, Saudi Energy Minister Says

    The 23-nation alliance, led by Riyadh and Russia, is set to meet on Dec. 4 to decide whether to cut production again, keep it stable or reverse course and pump more. Members are looking at the state of the global economy and seeing plenty of “uncertainties,” Prince Abdulaziz bin Salman said. Oil has dipped sine June as central banks raise interest rates and China maintains its Covid Zero strategy. But Brent is still above $95 a barrel and up 23% this year, with many traders concerned about supply shortages once the European Union effectively bans the import of Russian crude from next month.

  • Foreign Ministers of Pakistan and Saudi Arabia Discuss Political and Security Affairs

    Foreign Minister Bilawal Bhutto Zardari and Prince Faisal bin Farhan Al Saud, the Foreign Minister of the Kingdom of Saudi Arabia, jointly chaired the inaugural session of the Ministerial Committee of the Political and Security Pillar of the Saudi-Pakistan Supreme Coordination Committee, held in the Ministry of Foreign Affairs, Riyadh on 10th November 2022. During the meeting, both sides held wide-ranging discussions on host of issues related to political and security domains.

  • US woman detained in Saudi Arabia over Twitter post released, family says

    Carly Morris, 34, was released from prison on Wednesday but is still under a travel ban. She was detained on Sunday over allegations that she was “destabilising public order” after posting that she and her daughter, eight, had been held against their will in the country.

  • Saudi Ladies International winner will claim equal prize money to men

    The prize money will increase from $1 million to $5 million, with the tournament champion taking home $750,000 at the conclusion of the Ladies European Tour competition at Royal Greens Golf & Country Club in King Abdullah Economic City in Saudi Arabia on February 16-19

  • Middle East jet fuel availability tightens amid jump in flights for World Cup

    More than 1.2 million people were expected to travel to Qatar for the tournament over Nov. 20-Dec. 18, according to media reports. "Jet fuel demand in the Middle East region will likely take the lead among major oil products to increase by a little over 100,000 b/d or 32% year on year in Q4," said Wang Dong, Analyst at S&P Global Commodity Insights. "[This is] primarily due to the normalization of the aviation sector and further reduced travel restrictions compared with one year ago, and secondly due to the boost from the Qatar 2022 FIFA World Cup," Wang said.