BUSINESS | Saudi Arabia To Provide 60,000 Free Wi-Fi Points

At least 60,000 free Wi-Fi hotspots will be provided in public location across Saudi Arabia as part of a Communication and Information Technology Commission (CITC) initiative. Hospitals, malls, public parks and the Two Holy Mosques will be among locations to get free Wi-Fi access, the Saudi Press Agency reported on Sunday. The initiative includes free … Continue reading BUSINESS | Saudi Arabia To Provide 60,000 Free Wi-Fi Points

BUSINESS | Saudi Arabia’s PIF Invest $1.3 Billion In India’s Reliance Retail

MILAN - - Saudi Arabia’s Public Investment Fund said Thursday it will invest approximately $1.3 billion for a 2.04 percent stake in Indian conglomerate Reliance Industries’ retail arm, RRVL. The investment will further strengthen PIF’s presence in India’s dynamic economic and promising retail market segment, said a statement. The investment in RRVL follows an earlier … Continue reading BUSINESS | Saudi Arabia’s PIF Invest $1.3 Billion In India’s Reliance Retail

BUSINESS | Aramco Chief Wins Energy Executive Of The Year Award

RIYADH | SAUDI ARABIA – Saudi Aramco’s president and CEO, Amin Nasser, had been named energy executive of the year by a panel of international industry leaders. The 60-year-old business chief was selected for the Energy Intelligence 2020 Award by a committee of top executives. Nasser will be officially presented with the prestigious award during … Continue reading BUSINESS | Aramco Chief Wins Energy Executive Of The Year Award

BUSINESS | UNWTO Launches AlUla Framework For Community Development

Madain Saleh The World Tourism Organization (UNWTO) has launched the ‘AlUla Framework for Inclusive Community Development Through Tourism’, with a set of transformative tourism practices sustaining live hoods in local communities. Tourism Ministers of the G20 nations have committed to stepping up their efforts to place sustainability and inclusion at the heart of tourism recovery … Continue reading BUSINESS | UNWTO Launches AlUla Framework For Community Development

BUSINESS | Saudi Non – Oil Sector Sees Growth 1st Time In 7 Months

RIYADH | SAUDI ARABIA – An international survey revealed that the non – oil private sector in Saudi Arabia returned to growth last September for the first time in seventh months, amid an increase in demand after easing the general lockdown measures. ‘Business activity in the Saudi Arabia non-oil private sector ticked up in September, … Continue reading BUSINESS | Saudi Non – Oil Sector Sees Growth 1st Time In 7 Months

NEWS ALERT | Saudi Business Leaders Urges Boycott Of Goods From ‘Hostile’ Turkey

RIYADH| SAUDI ARABIA – The Head of Saudi Arabia’s Chambers of Commerce has called for a boycott of Turkish products amid merchants’ reports that animosity between Ankara and Riyadh is hindering the flow of goods between the two regional powers. Saudi Arabia and Turkey have been at odds for some years over foreign policy and … Continue reading NEWS ALERT | Saudi Business Leaders Urges Boycott Of Goods From ‘Hostile’ Turkey

BUSINESS | Saudi Arabia Brings In Lower Property Tax To Boost Sector

Properly deals in Saudi Arabia have been exempted from a 15 percent value – added (VAT) as the government moves to support the real estate sector. Instead a new 5 percent tax will be applied to deals as the Kingdom seeks to boost an economy that has been hit hard by the impact of the … Continue reading BUSINESS | Saudi Arabia Brings In Lower Property Tax To Boost Sector

BUSINESS | Saudi Arabia’s July Crude Exports Tick Up From Historic Lows – JODI

MILAN | ITALY – Saudi Arabia’s crude oil exports bounced back to 5.73 million barrels per day (bpd) in July from 4.98 million bpd in June, official data showed on Thursday. June’s exports were the weakest recorded in data stretching back to 2002. Monthly export figures are provided by Riyadh and other members of the … Continue reading BUSINESS | Saudi Arabia’s July Crude Exports Tick Up From Historic Lows – JODI

BUSINESS | Saudi Arabia’s STC Asks Banks To Pitch For Subsidiary IPO: Sources

MILAN | ITALY – Saudi Telecom Co has asked banks to pitch for roles in a potential public offering of its products and services development arm, three sources familiar with the matter told Reuters. STC, Saudi Arabia’s largest telecoms operator, sent  a request for proposals to international and local banks last week for Solutions by … Continue reading BUSINESS | Saudi Arabia’s STC Asks Banks To Pitch For Subsidiary IPO: Sources

BUSINESS | Saudi Sovereign Fun PIF Weighs Investing In Ant IPO – Sources

Saudi  Arabia’s sovereign fund PIF is weighing a potential investment in the initial public offering of Chinese financial technology firm Ant Group, which could be the world’s biggest IPO, two sources familiar with the matter said. Ant, Alibaba’s fintech arm and China’s dominant mobile payments firm, field for a dual listing in Hong Kong and … Continue reading BUSINESS | Saudi Sovereign Fun PIF Weighs Investing In Ant IPO – Sources