JEDDAH: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman on Thursday said the Kingdom’s interest in energy cooperation with Arab countries is an integral part of its policy to strengthen its deep relations in all fields.
Prince Abdulaziz said that this cooperation is embodied in coordination for joint Arab action in numerous projects, programs and initiatives, the Saudi Press Agency reported.
RIYADH: Travelers will have access to a luxury train service in the UAE after national railway network operator Etihad Rail partnered with Italian hospitality firm Arsenale Group in a move to boost tourism and showcase the country’s heritage and scenic attractions.
The firms signed a memorandum of understanding during the two-day Middle East Rail Exhibition and Conference in Abu Dhabi to roll out the 15-carriage transit option that will travel throughout the UAE toward the border with Oman.
RIYADH: Travelers will have access to more hospitality options in Saudi Arabia after the Kingdom’s Tourism Development Fund struck a deal with Minor Hotels Group to jointly develop mountain destinations, health resorts, and urban hotels in the country.
The memorandum of understanding, which was signed during the International Hotel Investment Forum in Berlin, aims to establish an exclusive prolonged strategic relationship between the two organizations.
RIYADH: Saudi Arabian Oil Co. has named new presidents for its upstream and downstream businesses as the oil giant looks to materialize its long-term strategies across the global portfolio and value chain.
According to a press statement, Saudi Aramco has appointed Nasir K. Al-Naimi as the president of its upstream business and Mohammed Y. Al-Qahtani as the president of the downstream business.
The company’s board has approved the newly created positions and appointments of directors, and the changes will be effective from July 1, 2023.
RIYADH: Duba Port, the primary seaport of entry to the northwest of the Kingdom, has been renamed as Port of NEOM.
In order to transform local ports into globally competitive logistics hubs, the management of Duba Port was transferred from the Saudi Ports Authority to NEOM in 2022.
Since the transfer, the port’s capabilities have been expanded to meet the rising volume of cargo coming into NEOM, including container and general cargo handling, a statement said.
RIYADH: Saudi Arabia’s Tadawul All Share Index gained 71.58 points, or 0.64 percent, to close at 11,277.60 on Wednesday as 136 of the 224 stocks finished in the green, while 75 ended in the red.
The top performing sector of the Saudi Stock Exchange was Food & Beverages, which soared 2.35 percent, while the Insurance and Banks sectors followed by 1.70 and 1.50 percent, respectively.
While the parallel market Nomu rose 0.88 percent to close at 20,864.69, the MSCI Tadawul Index edged up 0.85 percent to close at 1,517.45.
RIYADH: Bankers, policy officials, and financial regulators are set to descend on Riyadh to discuss real estate finance at the fourth edition of the Saudi Housing Finance Conference.
Hosted by Euromoney Conferences, the event will take place on May 24 under the theme “Opportunities and Challenges in the Housing Market,” reported the Saudi Press Agency on Wednesday.