RIYADH: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman met his Azerbaijani counterpart Parviz Shahbazov on Wednesday to discuss bilateral cooperation in the fields of energy, including renewables, Saudi Press Agency reported.
During the meeting, the pair signed an energy cooperation agreement covering oil, petrochemicals, gas, electricity and energy efficiency. The deal also outlines cooperation in the field of circular carbon economy and related technologies that seek to mitigate the impact of climate change.
RIYADH: Spending by Saudis fell for the second week in a row in the seven days ending May 20, according to point-of-sale transactions data released by the Saudi Central Bank.
The food and beverage sector saw the biggest drop in POS value, falling by SR136.17 million ($36.3 million), or 8 percent, the figures published by the bank, also known as SAMA, showed.
The Kingdom’s aggregate POS transactions shrunk by 7.3 percent last week, totaling SR10.1 billion, driven by the decrease in food and drink spending, showed the data.
RIYADH: The Red Sea will have direct access to the best leisure travel agencies in the world as the multi-project developer, Red Sea Global, partners with global luxury travel group Virtuoso.
RSG’s flagship destination will join Virtuoso’s elite network of world-leading hotels, resorts, cruise lines, tour companies and other travel businesses when it opens its doors in 2023.
RIYADH: The UAE and Malaysia have agreed to negotiate a Comprehensive Economic Partnership Agreement, the two countries said on Tuesday.
It is a type of bilateral trade deal the UAE has been pursuing with various countries since 2021.
The agreement will cover trade in goods and services, investments, economic cooperation, Malaysia’s Trade Ministry said in a statement.
RIYADH: Saudi Arabia’s Tadawul All Share Index shed 53.42 points, or 0.47 percent, on Tuesday to close at 11,275.77.
The parallel market Nomu, which lost 183.81 points on Monday, rose by 230.64 points to close at 20,834.64 on May 23. The MSCI Tadawul Index dropped 0.73 percent to 1,509.98.
The total trading turnover of the benchmark index was SR6.64 billion ($1.77 billion).
East Pipes Integrated Co. for Industry was the top performer as its share price surged 7.55 percent to SR65.50.
RIYADH: Saudi Arabia’s NEOM Green Hydrogen Company (NGHC) signed financial documents with 23 local, regional and international banks and investment firms on a green hydrogen production facility at a total investment value of $8.4 billion on Monday.
The plant is currently being built at Oxagon, in Saudi Arabia’s region of NEOM.
RIYADH: Fueled by significant growth in the Saudi travel and tourism sector, air traffic witnessed a strong rebound during the first four months of 2023, recording a 42 percent increase in the number of passengers compared to the same period last year.
According to the latest report issued by the General Authority of Civil Aviation, the number of passengers jumped to 35.8 million in the first four months of 2023, up from 25.3 million during the same period last year.