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  • Jannik Sinner Takes Home $6 Million With Win Over Carlos Alcaraz In 6 Kings Slam

    World No. 1 Jannik Sinner backed up his ranking and will take home the biggest purse in sports history after winning the 6 Kings Slam in Riyadh, Saudi Arabia. Sinner defeated Carlos Alcaraz, 6-7, 6-3, 6-3 to capture $6 million prize. In the third-place match, 24-time Grand Slam champion Novak Djokovic beat Rafael Nadal 6-2, 7-6(5) in the final match of their storied rivalry. Nadal is set to retire at next month’s Davis Cup finals in Spain.

  • Saudi Extra Offers 30% Stake in Finance Unit in Riyadh IPO Boom

    Saudi Arabia-based United Electronics Co., known as Extra, will proceed with the listing of a 30% stake in its financial services unit on the Saudi main market. The subsidiary, United International Holding Co., parent of Tasheel Finance, announced on Sunday its plan to float 7.5 million shares. The entire amount raised will be distributed to Extra, the selling shareholder, according to a statement. HSBC Saudi Arabia and EFG Hermes KSA have been hired to arrange the offering, which may come in the next few weeks.

  • Israeli forces storm shelters, detain men, as north Gaza raid deepens

    Israeli forces blew up homes and besieged schools and shelters for displaced people on Monday as they deepened their operations in Jabalia in the northern Gaza Strip, residents and medics said. They also rounded up men and ordered women to leave the camp, they said. Medics at the Indonesian Hospital told Reuters that Israeli troops stormed a school and detained the men before setting the facility ablaze. The fire reached the hospital generators and caused a power outage, they added.

  • Blinken heads to the Middle East as U.S. looks to kick start Gaza ceasefire talks

    U.S. Secretary of State Antony Blinken will depart for the Middle East on Monday, the State Department said, as Washington is pushing to kickstart ceasefire negotiations to end the Gaza war following the death of Hamas leader Yahya Sinwar. The top U.S. diplomat's latest trip to the region, his eleventh since the Oct. 7, 2023 attack on Israel by the Palestinian militant group Hamas that triggered the Gaza war, comes even as Israel has intensified its military campaign in Gaza and in Lebanon against Iran-aligned militia Hezbollah.

  • Gulen, the powerful cleric accused of orchestrating a Turkish coup, dies

    The U.S.-based cleric Fethullah Gulen, who built a powerful Islamic movement in Turkey and beyond but spent his later years mired in accusations of orchestrating an attempted coup against Turkish leader Tayyip Erdogan, has died. He was 83. Herkul, a website which publishes Gulen's sermons, said on its X account that Gulen had died on Sunday evening in the U.S. hospital where he was being treated. Gulen was a one-time ally of Erdogan but they fell out spectacularly, and Erdogan held him responsible for the 2016 attempted coup in which rogue soldiers commandeered warplanes, tanks and helicopters. Some 250 people were killed in the bid to seize power.

  • Amnesty says migrant workers exploited at Carrefour Saudi stores

    Rights group Amnesty International published Monday a report that accused the Saudi Arabian franchise of French supermarket giant Carrefour of exploiting migrant workers. Carrefour told AFP that an internal probe had not confirmed most allegations but was planning on conducting an external review. Amnesty said it found migrant workers for Carrefour's Saudi Arabian franchisee were deceived by recruitment agents, forced to work excessive hours, denied days off, cheated of their earnings and made to live in squalid accommodations.

  • Fifa urged by women’s soccer players to scrap sponsorship with Saudi oil company Aramco

    More than 100 professional women’s soccer players have signed an open letter to Fifa urging the global governing body to end its sponsorship with Saudi oil giant Aramco. Fifa confirmed a deal with Aramco, which is majority-owned by the Saudi government, in April. The company will sponsor both the 2026 men’s World Cup and 2027 Women’s World Cup in an agreement reportedly worth up to US$100 million a year.

  • Tawaref series: A step-by-step guide to Saudi Iqama process

    The Iqama is a residency permit issued to foreign nationals living and working in Saudi Arabia. It is a crucial document for any expatriates, including foreign investors who wish to reside in the country with their families. Although you can start working in the country without an Iqama, most services are blocked.

  • Consulting Industry Booms in the UAE, Saudi Arabia: Video

    The difficult road to partnerships and promotions at some of the world’s largest consulting firms can run through the Middle East these days. And for McKinsey and BCG, the region ranks among the strongest globally based on revenue and profitability. Bloomberg News' Abeer Abu Omar discusses the industry's playbook with Jennifer Zabasajja on Horizons Middle East & Africa.

  • Saudi: Nadec records 83% YoY higher net profit in 9M-24 on back of $648mln revenue

    The National Agricultural Development Company (Nadec) witnessed an 83.39% surge in net profit to SAR 326.59 million during the first nine months (9M) of 2024 from SAR 178.08 million in 9M-23. The company attributed the annual growth in net profit to several factors including the SAR 2.43 billion sales generated during January-September 2024, which were 1.76% higher than SAR 2.39 billion in the corresponding period a year ago, according to the financial results.