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Saudi Arabia’s Nayifat Finance Company Latest to Announce IPO Plans on Surging Tadawul
Saudi Arabia’s Nayifat Finance Company said on Tuesday it plans an initial public offering (IPO) on the Riyadh stock exchange with a free float of 35% of its shares, according to a Reuters report. Nayifat, a consumer-focused Islamic finance firm, said in a statement that it plans a sale of 35 million shares to institutional […]
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Saudi Arabia Celebrates 91st National Day in Kingdom with Patriotic Airshows, Events and Fireworks
Saudi Arabia is celebrating its 91st Saudi National Day today, marking the formation of the modern-day Kingdom with the unification of the Nejd and Hejaz by King Abdulaziz Al-Saud in 1932. The Kingdom’s version of the 4th of July will be celebrated this year under the slogan “A Home for Us.”
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Saudi Arabia’s Technology Ministry Announces ‘LaunchKSA’ to Power Digital Innovation with $1 Billion Backing
Saudi Arabia’s Ministry of Communications and Information Technology (MCIT) announced the launch of LaunchKSA, which promises to enhance innovation, augment digital know-how, support youth, and transform Saudi Arabia into the region’s largest digital economy.
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Fintech Saudi Releases National Fintech Adoption Survey Results in 5 Areas
Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.
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For Second Straight Year, Saudi Arabia Puts Safety First with Plans for Scaled Back Hajj in 2021
Saudi Arabia announced over the weekend that this year’s Hajj pilgrimage will be limited to no more than 60,000 people, all of them from within the kingdom, as authorities seek to build on progress combatting the ongoing coronavirus pandemic.
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Stephen D. Bechtel Jr., Grandson of Company’s Founder, Dies at Age 95
Stephen D. Bechtel Jr., who expanded the global reach of Bechtel as chief executive from 1960 to 1990, died Monday at his home in San Francisco, the company announced. He was 95.
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Saudi Arabia’s Tourism Ambitions Expand to Mountainous Asir Province
Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
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Dazzling Designs Revealed for a ‘Coral Bloom’ Concept at Saudi Arabia’s Red Sea Project’s Main Hub Island at Shurayrah
Saudi Arabia this week unveiled a new, visionary design and plans for the Red Sea project’s main hub island at Shurayrah, a “Coral Bloom” concept created by world-renowned architecture firm Foster + Partners.
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Saudi International Kicks Off with English golfer David Horsey with a Day One Lead
This week’s Saudi International kicked off today at the Royal Greens Golf and Country Club in King Abdullah Economic City, Saudi Arabia, playing host to an impressive field of star Tour pros.
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Saudi Arabia’s New Open Banking Policy to Turbocharge Digital Innovation
Saudi Arabia’s central bank, the Saudi Arabian Monetary Authority (SAMA), is introducing an open banking policy to advance digital innovation in the financial services sector, the body announced this week.
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MUST-READS
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SAGO has bought 89,290 tons of wheat from Saudi farmers
Saudi Arabia’s state grains buyer (SAGO) procured 89,290 ton of wheat from local farmers so far, it said in a statement on Monday.
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Glimmers of hope: Yemen’s rich history endures far from war – in pictures
Photographer Tariq Zaidi travelled to the Hadhramaut and Al Mahrah regions of Yemen, where a ceasefire has allowed a kind of normality to return after years of conflict and unimaginable hardship
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Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?
In these circumstances, a marketing policy of maintaining sales into a weakening regional Asian market should see the Kingdom cutting its regional differentials relative to Europe and the U.S. While Aramco’s European and American differentials have increased, they have not increased as rapidly as Asian differentials — especially for Arab “medium” — the Saudi crude that is the closest substitute for the main Russian export blend, Urals (see table above).
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Is Saudi Arabia Quietly Trying to Help Europe’s Oil Consumers?
Saudi Aramco’s global marketing organization — with offices in key cities throughout the world — follows regional oil market developments very closely, and this allows them to fine-tune differentials based on subtle regional shifts in market fundamentals. For example, if Asia needs more diesel fuel, Aramco might price crudes that yield a higher share of diesel to be directed toward Asian markets. It is an incredibly efficient and well-informed organization, allowing the Aramco to maximize revenues from its oil sales within the policy framework set by the Energy Minister.
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Farmers Are Struggling to Keep Up Food Supply as Fertilizer Prices Surge
In Brazil, the world’s biggest soybean producer, a 20% cut in potash use could bring a 14% drop in yields, according to industry consultancy MB Agro. In Costa Rica, a coffee cooperative representing 1,200 small producers sees output falling as much as 15% next year if the farmers miss even one-third of normal application. In West Africa, falling fertilizer use will shrink this year’s rice and corn harvest by a third, according to the International Fertilizer Development Center, a food security non-profit group.
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Consumers Hit Back at Russia’s Invasion of Ukraine as Oil Exports Diminish
The IEA’s release of over 60 million barrels of emergency oil stocks was the largest in IEA history. But there is increasing recognition of the need to coordinate such short-term measures with longer-term solutions.
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EV Startup Rivian Walks Back Price Increase, Apologizes to Customers
In a letter made public Thursday, Rivian Chief Executive RJ Scaringe apologized to customers for applying the price increase retroactively. He said the startup is trying to cope with rising costs of parts and materials, but it erred by applying price increases to existing orders rather than honoring the original terms.
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Saudi Culture Ministry Delivers Immersive Cultural Spectacle at Saudi Cup
For the second year on the trot, the Fashion Commission brought back the popular dress code created in collaboration with fashion heritage expert Dr. Laila Albassam and celebrated Saudi illustrator Norah Sahman. Guests embraced the theme of styles inspired by heritage costumes traditionally worn around the Kingdom, with some dressed and styled by designers from the Commission’s successful Saudi 100 Brands program.
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Saudi Consumers Expected To Shop Online More In 2022
Al-Harbi noted that Saudi communities are embracing digital commerce with “great passion and remarkable speed” because consumers want seamless shopping experiences “curated to their personal preferences.”
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Immersive course teaches students Arabic with a Saudi flavor
He said that from a native English speaker’s perspective, Arabic is one of the four most complex languages, along with Japanese, Chinese, and Korean. So he and his partners wanted something that was effective. “From day one it’s full immersion in Saudi-dialect Arabic, you are with a native speaker, and there’s no English at all. No other languages. It’s full Arabic,” he said. Learning in small groups or one-on-one lessons is also part of the learning methodology.
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