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Diriyah CEO predicts Saudi Arabia as a popular spot for Chinese tourists

RIYADH: Saudi Arabia will become an attractive destination for Chinese tourists in the next 20 years, said the group CEO of the Diriyah Gate Development Authority. Speaking on the first day of the 10th Arab-China Business Conference in Riyadh on Sunday, Gerard Inzerillo said Chinese travel enthusiasts are raised in one of the most culturally rich countries in the world, as it is home to a unique cuisine, music, dance, literature and calligraphy.
Business

NEOM’s Green Hydrogen Project Receives Saudi Arabia’s First Sustainable Guarantee

RIYADH: Saudi Arabia’s green hydrogen project being developed at NEOM received the Kingdom’s first sustainable guarantee from the British bank, Standard Chartered, which agreed to extend funding support for its contractor Larsen & Toubro to build the necessary renewable energy infrastructure.  Located at Oxagon, the world’s largest green hydrogen plant is being built by NEOM Green Hydrogen Co., which is an equal joint venture between ACWA Power, Air Products and the $500-billion giga-project.
Business

ENGIE aims for more UAE growth following $11.9bn green investments

RIYADH: French utility company ENGIE is looking to further deepen its roots in the UAE market, with $11.9 billion already invested in different projects in the Gulf country, according to a senior official from the firm. In a statement to the Emirates News Agency, Frederic Claux, ENGIE’s managing director of thermal & supply for the Asia, Middle East and Africa region, said the company is seeking to expand its reach in the UAE by offering renewable energy solutions for water desalination, battery storage, and green hydrogen projects.
Business

“Global Power Shift: Universal Energy Access and Biodiversity Vital, Says WEF Official”

RIYADH: As the world steadily progresses on its energy transition journey, sustainability must not be the only item on the agenda, a top official at the World Economic Forum has insisted. During an interview with Arab News, Roberto Bocca, head of energy and materials and a member of the executive committee at the organization, said ensuring energy security is also essential as the world switches from traditional fuels to renewables. 
Business

Saudi Minister Emphasizes Energy Collaboration with Arab and OPEC+ Nations for Global Oil Markets.

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.
Business

NEOM Port: Saudi Arabia’s Duba Gets a New Name

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.
News

US House passes debt bill, may face Biden veto

The Biden administration has called on House Speaker McCarthy to instead raise the debt ceiling 'without conditions'.
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