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  • Saudi stock exchange approves listing of $1.5bn government debt

    The Saudi stock exchange has approved the listing of SR5.44 billion ($1.5 billion) worth of government debt instruments submitted by the Ministry of Finance, it said in a statement. Divided into two issuances, the first is valued at SR2.86 billion, while the other one has a size of SR2.58 billion.

  • PGA Tour Making Changes Amid Saudi Challenge

    People who spoke with The Associated Press and other news outlets after a meeting Tuesday with Commissioner Jay Monahan said next year’s PGA Tour schedule could include purses of at least $20 million for eight tournaments.

  • Saudi Arabia pledges to work with all partners globally on climate change

    Minister of State for Foreign Affairs, member of the Council of Ministers, and Envoy for Climate Adel Al-Jubeir led Saudi Arabia’s delegation participating in the Major Economies Forum on Energy and Climate (MEF).

  • How the change in perception of Saudi Vision 2030 impacted the F&B industry

    The resulting massive influx of visitors spurred by modernisation efforts will bring about a significant shift in the Saudi F&B landscape, while investments in the entertainment sector are expected to advance the quality and variety of F&B venues, with household spending on entertainment increasing to 6 percent of total spending by 2030.

  • Date production in the Al-Hassa region, Saudi Arabia in the face of climate change | Journal of Water and Climate Change

    One of the largest palm production areas in Saudi Arabia is the Al-Hassa oases, it has approximately 3 million date palms. However, by the end of the 21st century (2071–2100), climate change impacts will create a strain on the date production industry in the Al-Hassa region.

  • How Saudi Arabia embraced change of time system

    An old, traditional wall clock ticking at the Prophet’s Mosque in Madinah for over 70 years shows a different time. It is adjusted daily to match the correct time of the day. The old clock works as per the sunset timing system, which means that as soon as the sun sets, the clock strikes 12. This ancient system holds religious importance as people in Saudi Arabia and the Middle East believe that the new day starts soon after sunset.

  • Tough new sanctions on Russian oil could change the OPEC+ dynamic

    “If they prohibit insurance on tankers carrying Russian oil, that will really aggravate the scramble for barrels, and certainly it’s going to be a turbulent summer,” said Daniel Yergin, vice chairman S&P Global. “If you don’t have insurance, most reputable tankers aren’t going to sail because the risks are enormous.”

  • Electronic employment contracts in Saudi Arabia: what has changed?

    Following a recent announcement from the Saudi Arabian Ministry of Human Resources and Social Development (MHRSD), the MHRSD has confirmed that from 12 May 2022, all new employment contracts must be electronically approved and authenticated through the online Qiwa platform. Employers were previously required to register the electronic employment contracts for their Saudi employees on the online Mudad platform, and for their non-Saudi employees on the Qiwa platform. This new development will now centralise and unify the electronic authentication process for all electronic contracts under the Qiwa platform.

  • Gulf Economic Update – Achieving Climate Change Pledges

    "As GCC countries commit to the net-zero objectives laid out in their pledges and strategies, it is important to restructure energy and water subsidies and address the GCC’s challenge of moving to a more sustainable growth model less hydrocarbon dependent and managing the transition to a global low-carbon economic environment that risk to see their oil revenues reduced in the next few decades," said Issam Abousleiman, World Bank Regional Director for the GCC.

  • Rally Jameel, Saudi Arabia’s First Women-Only Race, Reflects Rapid Change

    The pair got stuck a few times along the race and argued a bit, as sisters will. I told them that sometimes it helps to have a funny word or phrase to say during times of stress to break the tension. They chose "smelly camel," paying homage to the many herds of camels we saw during the race.