Environment & Energy | Friday 15 December, 2023 1:32 am

IEA expects weaker oil demand in 2024

The International Energy Agency (IEA) said global oil demand growth is anticipated to weaken next year, reflecting the slowdown in major world economies in the wake of soaring interest rates. In its monthly report issued today, Dec. 14, the agency noted that global oil demand growth is likely...

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Business & Money | Friday 15 December, 2023 1:31 am

Industry Minister meets with several Korean companies

Bandar Alkhorayef, Minister of Industry and Mineral Resources, concluded several bilateral meetings with executives of Korean companies operating in the industrial sector, and visited a number of factories in the cities of Ulsan and Changwon.   As reported by the Saudi News Agency,...

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Business & Money | Friday 15 December, 2023 12:57 am

Salik expands partnership with Careem; enables purchase of Salik tags and account recharge via Careem app.

Salik Company P.J.S.C., the exclusive toll gate operator in the Emirate of Dubai, is expanding its partnership with Careem, the region’s leading Everything App, to enable the delivery of Salik tags directly to customers via the latter's ultra-fast grocery service, Careem Quik. Careem Pay already...

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Business & Money | Thursday 14 December, 2023 2:18 pm

Thailand Mega Fair 2023: Impressive Opening Ceremony Unveils a New Chapter in Thai-Saudi Relations

the “Thailand Mega Fair 2023” commenced with a grand opening ceremony at The Arena Riyadh, marking a notable milestone in strengthening the cultural and economic ties between Thailand and Saudi Arabia. This inaugural event showcased Thailand’s rich culture and its potential for economic...

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Business & Money | Thursday 14 December, 2023 1:10 pm

Family Business Council Gulf Marks a Decade of Empowering GCC Family Businesses.

The Family Business Council-Gulf (FBCG), a preeminent organization dedicated to supporting GCC family businesses, commemorated its 10th anniversary by hosting the landmark 10th edition of its Annual Summit. Themed 'A Brave New World', the Summit in Riyadh was a convergence of leading family...

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Tourism & Hospitality | Thursday 14 December, 2023 10:10 am

Experience the True Winter Getaway in Dubai with Aspen Magic at Kempinski Hotel Mall of the Emirates

Kempinski Hotel Mall of the Emirates establishes itself as the premier destination for discerning travelers seeking a five-star luxury experience in the heart of Dubai. With its prime location and unparalleled amenities, the hotel offers a luxurious retreat and easy access to Dubai's top...

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Business & Money | Thursday 14 December, 2023 9:32 am

US Fed does not rule out another rate hike: Powell

Federal Reserve Chairman Jerome Powell said on Wednesday that the US central bank is moving forward cautiously despite the inflation rate declining significantly.   Inflation still remains elevated and the path forward is uncertain, he told a press conference.   He...

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Government | Thursday 14 December, 2023 9:30 am

IMFC selects Al-Jadaan as new Chair

Saudi Minister of Finance Mohammed Al-Jadaan was selected as Chairperson of the International Monetary and Financial Committee (IMFC) for a three-year term starting Jan. 4, 2024. Al-Jadaan will succeed Nadia Calviño, Spain's Deputy Prime Minister and Minister of Economic Affairs and Digital...

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Cars & Autos | Thursday 14 December, 2023 9:28 am

Lucid reaches 800 cars assembled in Saudi Arabia: VP

Lucid Group assembled nearly 800 electric vehicles (EVs) in its Saudi factory since its opening, said Faisal Sultan, Vice President and Managing Director of Lucid Middle East.  The cars are fully built in Arizona and are then disassembled and shipped to Saudi Arabia as a kit,...

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Business & Money | Thursday 14 December, 2023 9:21 am

MESC renews credit facilities worth SAR 171M with banks

Middle East Specialized Cables Co. (MESC) renewed its Shariah-compliant credit facilities agreement worth SAR 171 million with Saudi Awwal Bank (SAB), Al Rajhi Capital, Arab National Bank, Banque Saudi Fransi, and Riyad Bank, the company said in a statement to...

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