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  • Saudi Arabia’s Tourism Landscape – Establishing a Vision

    The WTTC forecasts the Travel & Tourism sector in Saudi Arabia to grow at an average of 11% annually over the next decade, making it the fastest-growing Travel & Tourism sector in the Middle East. The Kingdom expects the total sector’s contribution to reach SAR 635 billion in 2032, constituting approximately 17.1% of the total economic GDP.

  • Saudi Arabia’s Tourism Landscape – Establishing a Vision

    The WTTC forecasts the Travel & Tourism sector in Saudi Arabia to grow at an average of 11% annually over the next decade, making it the fastest-growing Travel & Tourism sector in the Middle East. The Kingdom expects the total sector’s contribution to reach SAR 635 billion in 2032, constituting approximately 17.1% of the total economic GDP.

  • Capital markets will have to plug growing investment gap in Saudi Arabia, S&P says

    Banks will be unable to meet the investment funding needs of Saudi Arabia’s corporate sector and capital markets will have to play a key role in bridging the financing gap as the kingdom continues to roll out new development projects. The government’s plans to develop mega projects across sectors and its investment commitments due to an increase in oil revenue means investment needs in the kingdom are significant and growing, S&P Global Ratings said in a note on Wednesday.

  • EU Asks Members to Set Russia Oil-Price Cap at $60

    The European Commission, the European Union’s executive body, has asked the bloc’s 27 member states to approve a price cap on Russian oil of $60 a barrel, according to people familiar with the matter. Under the plan, the Group of Seven and Australia would to ban the provision of maritime services for Russian oil shipments unless the crude is sold at or under the level.

  • Oil prices fall over $1/bbl on Russian oil price cap talks

    Oil prices fell by more than $1 a barrel on Wednesday as the Group of Seven (G7) nations looked at a price cap on Russian oil above where the crude grade is currently trading. Brent crude futures fell $2, or 2.26%, to $86.36 a barrel at 1153 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.57, or 1.94%, at $79.38 a barrel.

  • Skepticism from some over Saudi carbon capture plan

    Saudi Arabia is bolstering years of negotiation tactics designed to stymie vital climate negotiations with a focus on carbon capture technologies that experts say risk delaying a meaningful transition from fossil fuels.

  • Oil and Gas Terminals Are in a Prime Position To Capitalize on the Energy Transition

    Still, given their uniquely vital role in the trading of traditional liquid fuels, terminals could also play an equally pivotal role in the transport and logistics of newer, emerging product lines like hydrogen, renewable diesel, sustainable aviation fuel, and their associated feedstocks. In essence, this gives terminals a new lease on life and new value in the energy transition, while retaining their traditional role as the gateway to energy trading.

  • Qatar hotel prices rocket to more than eight times government-mandated cap

    A single night in some of Qatar’s most popular hotels are reaching US$5,000 during FIFA World Cup Qatar 2022. The government has asked GMs to price themselves responsibly, even putting a cap in place for its own supply for the tournament.

  • Saudi Arabia to Build Carbon-Capture Plant for Net-Zero Push

    Saudi Arabia is establishing a facility on its eastern coast to capture carbon, as the world’s biggest oil exporter seeks to reach its goal of neutralizing emissions by 2060. “Don’t be very surprised if we achieve this net-zero before then,” Energy Minister Prince Abdulaziz bin Salman said in a speech on Thursday evening at the COP27 climate summit in Sharm el-Sheikh, Egypt. Neighboring United Arab Emirates and many European countries have set a target of 2050.

  • Women stopped from entering amusement parks in Afghan capital

    A spokesperson for the Ministry for the Propagation of Virtue and Prevention of Vice (MPVPV) confirmed that women would be restricted from accessing parks when asked for comment by Reuters, but did not respond to requests to provide further details.