Kuwait Wealth Fund Appoints Interim Managing Director

The Kuwait Investment Authority (KIA), the Gulf country’s sovereign wealth fund, has appointed Basr al – Ajeel as interim managing director pending a permanent appointment, a source familiar with the matter said  on Wednesday. The KIA last week appointed a new board of directors but hadn’t names a new managing director. The term of the … More Kuwait Wealth Fund Appoints Interim Managing Director

Kuwait’s Emir Appoints KIA Bord For Four Years

Kuwait’s emir on Saturday issued a decree appointing the Kuwait Investment Authority’s (KIA) board of directors for four years, the state news agency (KUNA) reported. The Gulf state’s sovereign wealth fund board consists of Khaled Al – Fadhel, Meshall Jaber Al Sabah, Fahad M AL – Rashed, Faisal Al – Hamad and Ghanem Suleiman Saqr … More Kuwait’s Emir Appoints KIA Bord For Four Years

BUSINESS | KSA To Chair Arab Tourism Ministers’ Emergency Meeting

RIYADH | SAUDI ARABIA – The Arab League announced the holding of an emergency virtual session of the Arab Ministerial Council for Tourism next Wednesday, under the chairmanship of Saudi Arabia, with the participation of Arab tourism ministers and relevant organizations and unions, to discuss mechanisms to confront challenges imposed by the outbreak of the … More BUSINESS | KSA To Chair Arab Tourism Ministers’ Emergency Meeting

BUSINESS | Saudi FX Reserve Down Sharply In April To Back Wealth Fund Investments

RIYADH | SAUDI ARABIA – Saudi foreign reserves dropped sharply in April for a second consecutive month as the kingdom used tens of billions of dollars to back investments of its sovereign fund abroad while its economy is hit hard by the new coronavirus. Saudi Arabia, the world’s largest oil exporter, is suffering from historic … More BUSINESS | Saudi FX Reserve Down Sharply In April To Back Wealth Fund Investments

BUSINESS NEWS | Saudi Aramco To Supply Full May Crude Volumes To Asian Refiners: Sources

RIYADH | SAUDI ARABIA – Saudi Arabia, the world’s largest oil exporter, has notified some refiners in Asia that it will supply full contractual volumes of crude in May three sources with direct knowledge of the matter said on Friday. This comes after the Organization of the Petroleum Exporting Countries and allies including Russia agreed … More BUSINESS NEWS | Saudi Aramco To Supply Full May Crude Volumes To Asian Refiners: Sources

BUSINESS | Saudi Arabia Floods Europe With $25 Oil As Flight With Russia Escalates

LONDON – Saudi Arabia is flooding Europe with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in an escalation of its fight with Moscow for market share, five trading sources said on Friday. The sources, from oil major and refiners which process crude in Europe, said Saudi … More BUSINESS | Saudi Arabia Floods Europe With $25 Oil As Flight With Russia Escalates

BUSINESS | Saudi Energy Minister: No Need For OPEC+ Meet If No Agreement On Handling Oil Market Crisis

RIYADH – Saudi Arabia’s energy minister said on Tuesday he does not see a need to hold an OPEC+ meeting in May-June if there was no agreement on what measures should be taken to deal with the impact of the coronavirus on oil demand and prices. ‘I fail to see the wisdom for holding meeting … More BUSINESS | Saudi Energy Minister: No Need For OPEC+ Meet If No Agreement On Handling Oil Market Crisis

EMIRATES | Islamic Architecture Workshops Launch At Sheikh Zayed Grand Mosque Centre

MILAN | ITALY – The Sheikh Zayed Grand Mosque Centre, SZGMC, launched  a new cultural programme entitled “Ewan El Jami”, a series of workshops that cover the aesthetics of Islamic art and architectural design. The workshops within the programme different age groups and segments of the society, and focus on the unique aspects of Islamic … More EMIRATES | Islamic Architecture Workshops Launch At Sheikh Zayed Grand Mosque Centre

KSA | Saudi Arabia: Qiddiya Announces Progress, Readiness of New Office Complex

RIYADH | SAUDI ARABIA – The Qiddiya Development, the development branch of Qiddiya Investment, announced the readiness of the first part of its new office complex ahead of schedule. Qiddiya Development is tasked with designing and operating the largest entertainment giant complex for sports, arts, and entertainment in the region. The progress comes in the … More KSA | Saudi Arabia: Qiddiya Announces Progress, Readiness of New Office Complex

SOCIAL MEDIA | Many Consumers Across UAE, Saudi Unfollow Social Media Influencers

The survey revealed that 79 percent of consumers unfollowed social media influencers due to contrasting values and increased promotional content. Social media influencers are not “influencing” as many people in the region as they used to, according to a new survey by Dubai-based BPC group and research agency YouGov. The fourth edition of the Social … More SOCIAL MEDIA | Many Consumers Across UAE, Saudi Unfollow Social Media Influencers