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Libya players agree cease-fire amid warnings war may become ‘next Syria’
The agreement on Sunday came after about four hours of talks in Berlin where German Chancellor Angela Merkel hosted leaders of 11 countries, with Libya’s two main rival leaders also in the German capital but not at the main conference table.
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Pompeo Felt ‘Outrage’ Over U.S. Citizen’s Death in Egypt
U.S. Secretary of State Mike Pompeo “expressed outrage” to Egypt’s president on Sunday at the death of an American citizen who insisted he had been wrongfully held in Egyptian prison, according to a state department spokeswoman. Pompeo’s sharp remarks signal the U.S. government intended to place the death of Mustafa Kassem, 54, following his protracted hunger strike last week, high on the diplomatic agenda.
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Saudi Arabia’s Qiddiya eyes first Formula One race in 2023
Saudi Arabia’s new entertainment giga-project Qiddiya, on the outskirts of Riyadh, has the potential to become the “motorsport capital of the world”, according to former Formula One star Alex Wurz. Wurz is behind the design of the new race track, which has been touted as a future venue for Formula One in 2023. Qiddiya already hosts a round of the Formula E Championship, while the new track will be designed up to the FIA Grade 1 standards required for F1.
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Saudi IMI signs rig deals with ARO and Lamprell
International Maritime Industries, located in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia, will be the largest, full service maritime facility in MENA. International Maritime Industries is a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries.
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Inaugural Saudi Cup coming up a blockbuster – and so could the undercard
A clash of Eclipse Award finalists Maximum Security, McKinzie, and Midnight Bisou ramps up anticipation for the inaugural $20 million Saudi Cup. Moreover, Riyadh’s Feb. 29 program as a whole could turn out to be a blockbuster, if the nominations for the supporting prizes are any indication.
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Saudi Religious Scholars Debate if Shops Should be Closed at Pray Time
Saudi Arabia has recently announced allowing commercial activities to function for 24 hours, in a new string of promised boosts of business and provide services for all. While the change solves many problems, such as congestion and loss of potential income, many Saudis still debate whether or not it will include the custom of shops closing during prayer time, five times a day.
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Saudi’s United Electronics to Evolve Online Platform, CEO Mohammed Galal Fahmi Says
Mohammed Galal Fahmi, chief executive officer of United Electronics Co., a consumer electronics retailer in Saudi Arabia, talks about its business strategy and outlook. United Electronics reported profit for the full year that beat the average analyst estimate.
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Saudi Arabia’s 2020 growth forecast cut by IMF on OPEC+ cuts
Saudi Arabia's 2020 GDP will be 1.9%, down from 2.2% projected in October, the IMF said. The fund kept its 2021 forecast at 2.2%, compared with 0.2% for 2019.
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Saudi Arabia records a 51 per cent increase in FDI in 2019, Invest Saudi
In a report, Invest Saudi, the state entity in charge of promoting foreign investment, said that a total of 1,131 of foreign companies were created in 2019, a 54 per cent increase from 2018, adding that this was the biggest rise in 10 years. Of the 1,131 investor licences issued in 2019, 69 per cent were full foreign ownership and 31 per cent accounted for joint venture partnerships with local investors.
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Saudi Arabia reiterates its commitment as top Sudan Donor
Saudi Arabia, the biggest aid provider to Sudan, has pledge continued commitment to the beleaguered state. The pledge was made a high-level roundtable on Humanitarian Aid in Sudan co-hosted by the UK, Sweden and the UN's Office for the Coordination of Humanitarian Affairs (OCHA) in London.
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