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Why Saudi Arabia’s Winter at Tantora Festival is a must visit
Back for its second season, the 12-week festival will host a spectacular series of events and activities including music concerts (from Lionel Richie to Andrea Bocelli), art installations, spectacular hiking trails and even the option to see the historical area from the sky from the open cockpit of a vintage airplane. Really.
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Oil prices rise 2% in early trading as tensions in the Middle East mount
International benchmark Brent crude gained 1.5%, or $1.07, to trade at $69.67 per barrel. Earlier in the session Brent hit a high of $70.74. U.S. West Texas Intermediate climbed 1.3%, or 80 cents, to $63.85 per barrel. The session high was $64.72.
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Saudi Arabia, Egypt Condemn Turkey’s Decision to Send Troops to Libya
Turkish President Recep Tayyip Erdogan said Sunday that the country was deploying military units to Libya, where Ankara is supporting the Government of National Accord (GNA) in Tripoli. Turkey’s parliament authorized the deployment of troops to Libya on Thursday, following a separate deal on sending military experts and weapons signed into law in December.
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Saudi Arabia’s global investments exceed $1.1trln
Saudi investment assets abroad grew by 8.86% or SAR 346.94 billion ($92.5 billion) to reach SAR 4.26 trillion ($1.14 trillion) by the end of the third quarter (Q3) of 2019, as shown by the Saudi Arabian Monetary Authority’s (SAMA) most recent data. Saudi assets abroad consist of various investments, such as foreign direct investment (FDI), portfolio investments, as well as reserve assets.
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US-Iran tensions provides Saudi Aramco with first stern test less than a month after IPO
While Aramco performed better than Saudi Arabia’s benchmark Tadawul index, the sudden rise in geopolitical tension comes just as the end of the stabilisation period for the shares nears following the Dec. 11 sale.
- Saudi Gazette - Commodity markets jittery amid renewed geopolitical friction
- Fortune - Jittery Investors Sell off Saudi Aramco, Middle Eastern Stocks in First Trading Session Since Soleimani Killing
- Reuters - Saudi Aramco shares hit lowest since IPO, down 1.7%
- Bloomberg - Aramco Undergoes Stern First Test Less Than a Month After IPO
- Bloomberg - Oil Jumps Near $70 as U.S. Says Iran May Strike Saudi Again
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Saudi Human Resources Development Fund deposits $131 million in accounts of Hafiz beneficiaries
The Saudi Human Resources Development Fund (Hadaf) deposited more than SAR493 million ($131 million) in people’s bank accounts for December.
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SCTH releases over 10,000 tourism licenses
According to Al-Eqtisadiah newspaper, in 2019, the Saudi Commission for Tourism and National Heritage (SCTH) issued more than 10,000 tourism licenses. Tourism accommodation facilities, travel and tourism agencies, trip organization, tourist guidance, reservation offices and tourism accommodation marketing, all were covered by the licenses.
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Where U.S. troops are in the Middle East and Afghanistan, visualized
On Friday, the Pentagon announced that it was sending an additional 3,500 troops to the region, while troops in Italy were put on standby, according to defense officials. The troop escalation came just days after President Trump ordered an additional 750 U.S. soldiers to the Middle East and 3,000 more to be on alert for future deployment, after pro-Iranian forces stormed the U.S. Embassy in Baghdad as part of a worsening cycle of violence.
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New Jeddah Airport to be fully operational in Ramadan
Currently, the number of flights has been increased by adding 13 new international stations, bringing the total to 27. The number of departing and arriving flights at the airport has reached 4,900 with 654,000 passengers on board, Al-Ruasa said.
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Iran bomb attack conjures memories of plot to kill Saudi ambassador in D.C.
Arbabsiar pleaded guilty to a charge of murder for hire and two counts of conspiracy in 2012. The next year, he was sentenced to the maximum 25 years in prison. Preet Bharara, then the U.S. attorney for the Southern District of New York, linked Arbabsiar to Iran after the prison term was announced.
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