Saudi Arabia Archives — Page 2 of 2

August 22, 2020 No Responses

Saudi Arabia Suspends $10b Oil Refinery Project

Aramco, Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China as the company slashes spending to cope with low oil prices.Aramco decided to stop investing in the facility in China’s Northeastern...

May 11, 2020 No Responses

Saudi Arabia Triples VAT, Suspends Allowance

Saudi Arabia is tripling its value added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. The government in Riyadh also said it will suspend its cost of living allowance to shore up state finances. The oil-rich...

December 13, 2019 No Responses

Saudi Arabia To Host First-Ever Women’s Tournament

Saudi Arabia will host its first-ever golf tournament for women from March 19 to March 22 at the Royal Greens Golf & Country Club in Jeddah. The Ladies European Tour (LET) event will be staged in collaboration with Golf Saudi...

December 6, 2019 No Responses

IPO: Saudi Aramco Raises $25.6b

State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering (IPO) in Riyadh. The share sale was the biggest ever, surpassing that of China’s Alibaba which raised $25bn in 2014 in New York. Aramco...

October 28, 2019 No Responses

Nigeria Seeks Future Investments In Riyadh

President Muhammadu Buhari will depart Abuja Monday for Riyadh, the Kingdom of Saudi Arabia, to attend the third edition of the Future Investment Initiative (FII) organised by Saudi’s Public Investment Fund (PIF). The three-day event will be held under the.....

August 6, 2018 No Responses

Saudi Arabia Expels Canadian Ambassador

Saudi Arabia has said it is freezing all new trade and investment with Canada over its “interference” in the Gulf Kingdom’s internal affairs. In a series of tweets, the Saudi foreign ministry said it was expelling the Canadian ambassador and....

June 24, 2018 No Responses

Saudi Women Celebrate End Of Driving Ban

Saudi women are officially allowed to get behind the wheel, after a decades-old driving ban was lifted. The change was announced last September and Saudi Arabia issued the first licences to women earlier this month. It was the only country...

December 11, 2017 No Responses

Qatar stakes £6b on 24 eurofighter jets

A £6bn deal to sell Eurofighter Typhoons to Qatar will help safeguard thousands of UK jobs. BAE Systems employs about 5,000 people in the UK to build the fighter jets, mainly at Warton in Lancashire. Qatar’s purchase of 24...

October 25, 2017 No Responses

Saudi Arabia unveils agenda for $500b mega city, business zone

Saudi Arabia has unveiled plans to build a new city and business zone – a project that will be backed up by more than $500bn (£381bn) in investment. Crown Prince Mohammed bin Salman says the 26,500 sq km (10,232 sq...

June 7, 2017 No Responses

Saudi Arabia revokes Qatar Airways’ licence

Saudi Arabia’s aviation authority has formally withdrawn Qatar’s licence to land and fly in the country. Saudi’s General Authority of Civil Aviation also ordered its offices to to be closed within 48 hours. In a statement, the authority also ...

May 9, 2017 No Responses

Bahri explains partnership with Hyundai

The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with the South Korean shipbuilder Hyundai Heavy Industries (HHI) for cooperation in the field of big data. The agreement sets up a comprehensive framework for...

April 19, 2017 No Responses

37 ships to fly Saudi Arabia’s flag

National Shipping Company of Saudi Arabia (Bahri) has revealed plans to re-flag 32 of its very large crude tankers (VLCCs) and five of its mid-size carriers under the domestic flag by the end of 2017. The move comes amid a...