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☆ Saudi Arabia's massive wealth fund is in talks to acquire national airline Saudia: Report
▼ + stars: | 2024-03-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Saudi Arabia's behemoth sovereign wealth fund is in talks to buy the kingdom's national airline Saudia, Bloomberg reported over the weekend, citing people familiar with the matter. According to the initial report, the acquisition would see the PIF take over the airline's ownership from the government to increase its efficiency and ability to make profit. Founded in 1945, Saudia has a fleet of 144 aircraft — 93 Airbus planes and 51 made by Boeing — and flies to more than 100 destinations, according to its website. It is not yet known how the airline would be valued. Talks are said to be in early stages, and could be delayed or axed altogether, Bloomberg reported.

Persons: Saudia, Boeing — Organizations: Saudi, Saudia, Bloomberg, Public Investment Fund, Riyadh Air, Airbus, Boeing Locations: Saudi Arabia

☆ Crude oil showing signs of a breakout as it tops $80. What traders say happens next
▼ + stars: | 2024-03-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

U.S. crude oil futures might be showing signs of a break out after topping $80 this week, though some analysts caution against reading too much into the move. The move higher came after the International Energy Agency forecast a crude supply deficit this year and Ukraine attacked several oil refineries in Russia. U.S. crude performed the same pattern this week, wiping out and closing above last week's intraday high of $80.67. U.S. crude has also held above its 200-day moving average of $78.13 a barrel almost all month, he said. As the market enters a supply deficit this year, Riyadh could start rolling barrels back on the market, Melek said.

Persons: Matt Maley, Miller, Tom Fitzpatrick, R.J, O'Brien, WTI, Brent, Fitzpatrick, Maley, Malley, Bart Melek, Melek, We're, Carter Worth, It's, it's, Worth Organizations: West Texas Intermediate, International Energy Agency, SPDR, Energy, TD Securities, U.S, Worth Locations: Ukraine, Russia, Saudi Arabia, Saudi, Riyadh, U.S, United States

☆ Qatar Airways CEO: We don't feel pressure from newcomer Riyadh Air
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQatar Airways CEO: We don't feel pressure from newcomer Riyadh AirBadr Mohammed Al Meer, Qatar Airways CEO, says "we welcome competition."

Persons: Mohammed Al Meer Organizations: Qatar Airways, Riyadh Air

☆ The Saudi humanoid robot incident shows the machines aren't taking over the world anytime soon
▼ + stars: | 2024-03-14 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Saudi Arabia's first male humanoid robot inappropriately touched a female reporter last week. But robots aren't self-aware, so it probably wasn't intentional. Saudi Arabia's first "male" humanoid robot caused a stir after it inappropriately touched a female reporter at an AI conference last week. It's worth pointing out that robots aren't capable of feeling anger or having sexual desires, so it's highly unlikely that Muhammad made a deliberate advance at the reporter. AdvertisementLimited functionalityAI-powered robots remain far from achieving human-like capabilities, as Jeff Cardenas, CEO of humanoid robot maker Apptronik, previously told BI.

Persons: —, Muhammed, QSS, Sergey Lazarev, Muhammad, Gill Spencer, Jeff Cardenas, they're, Cardenas, Damion Shelton Organizations: Saudi, Service, Metro, Moscow Chess Federation, Arts, Agility Locations: Saudi, Riyadh, Russian

☆ Al-Nassr knocked out of the AFC Champions League by Al Ain after Cristiano Ronaldo’s costly miss
▼ + stars: | 2024-03-12 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Cristiano Ronaldo’s Al-Nassr crashed out of the AFC Champions League after a thrilling tie against Al Ain ended 4-4 on aggregate before the Emirati side triumphed on penalties. Monday’s end-to-end game could have gone either way, though Ronaldo will likely regret his staggering miss in the second half which could have seen Al-Nassr progress to the semifinals. Together, always!”After Al Ain won the first leg 1-0, the visiting team got off to a superb start in Riyadh thanks to two first-half goals from Soufiane Rahimi, whose neat finish had been the difference between the teams last week. Al Ain players celebrate their dramatic victory. Al Ain, chasing its first AFC Champions League title in 21 years, will next face another Saudi Arabian team – either Al-Hilal or Al-Ittihad – in the semifinals.

Persons: CNN — Cristiano Ronaldo’s Al, Nassr, Al Ain, Ronaldo, “, Soufiane Rahimi, Khalid, Sadio Mané, Abdulrahman, Fayez, Alex Telles ’, Ayman Yahya, Sultan Al, Shamsi, Raghed Al, Yasser Bakhsh, Marcelo Brozović Organizations: CNN, AFC Champions League, Al, Getty, AFC, League, Saudi Arabian Locations: Riyadh, Portuguese, Al Ain, Saudi, Al, Hilal, Ittihad

☆ A 'male' humanoid robot was unveiled in Saudi Arabia. It then inappropriately touched a female reporter.
▼ + stars: | 2024-03-11 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A 'male' humanoid robot appeared to inappropriately touch a female reporter during a presentation. Named 'Muhammad,' it is Saudi Arabia's first humanoid male robot. AdvertisementA Saudi robotics company's unveiling of a "male" humanoid robot didn't go as planned after it appeared to inappropriately touch a female reporter. Saudi robotics company QSS debuted "Muhammad the Humanoid Robot" at DeepFest in Riyadh last week. Saudi Arabia unveils its man shaped AI robot Mohammad, reacts to reporter in its first appearance pic.twitter.com/1ktlUlGBs1 — Megh Updates 🚨™ (@MeghUpdates) March 6, 2024On X, social media users accused the robot of inappropriately touching the female reporter.

Persons: Muhammad, —, QSS, Al Arabiya, Rawya Kassem, Mohammad, ake, orth Organizations: Service, Saudi Locations: Saudi, DeepFest, Riyadh, Muhammad, Saudi Arabia, uman

DUBAI, United Arab Emirates (AP) — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. It had reported a $161 billion profit in 2022, likely the largest ever reported by a publicly traded company. “The decrease mainly reflects the impact of lower crude oil prices and lower volumes sold, and weakening refining and chemicals margins,” the company said in its filing. The energy giant had planned a conference call Monday to discuss its results. The crown prince hopes to use the oil wealth to pivot the kingdom off oil sales, such as with his planned $500 billion futuristic desert city, called Neom, and other projects.

Organizations: United Arab Emirates, Sunday, Aramco Locations: DUBAI, United Arab, Saudi, Aramco

☆ Anthony Joshua vs. Francis Ngannou: Briton delivers devastating blow as he brutally knocks out UFC star in second round
▼ + stars: | 2024-03-09 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +2 min

CNN —It was over before it really began in Saudi Arabia as Anthony Joshua pummeled his way past Francis Ngannou with a devastating knockout blow in the second round. Richard Pelham/Getty ImagesFrom the opening bell, Joshua looked to assert himself on the sport’s newcomer. “I should be the WBC heavyweight champion of the world,” a defiant Joshua told reporters after the fight. He did what Tyson Fury couldn’t do,” Ngannou told reporters. “Everyone knows he knocks out Tyson Fury, I’ve always believed it now it’s not even questionable,” Hearn told Sky Sports after the fight.

Persons: Anthony Joshua pummeled, Francis Ngannou, Joshua, Tyson Fury, Ngannou, Richard Pelham, Fayez Nureldine, “, ” Ngannou, Eddie Hearn, who’ll, I’ve, ” Hearn Organizations: CNN, Briton, UFC, WBC, Getty, Sky Sports Locations: Saudi Arabia, Riyadh, Saudi, AFP

☆ Anthony Joshua vs. Francis Ngannou: former world champion faces MMA star with future title fight potentially on the line
▼ + stars: | 2024-03-08 | by ( Ben Morse | ) edition.cnn.com time to read: +6 min

And the former UFC heavyweight title holder will once again step into the ring to take on another British former world heavyweight champion, this time in the shape of Anthony Joshua. With a possible future title fight on the line – reports have suggested the winner could face the victor of the highly-anticipated Fury-Oleksandr Usyk unification fight – there’s a lot riding on Joshua and Ngannou’s clash. He won the UFC heavyweight title in 2021, taking off of Stipe Miocic and later defended it against Frenchman Ciryl Gane. “I was watching the Fury and Ngannou fight from home, and from what I saw, I thought he won,” Joshua told Sky Sports. “If AJ beats Ngannou and Fury beats Usyk, the whole world will be calling for Fury vs. Joshua.

Persons: Francis Ngannou, Tyson Fury, Anthony Joshua, Oleksandr Usyk, –, Joshua, Ngannou’s, Ngannou, “, Stipe Miocic, Frenchman Ciryl Gane, Fury, ” Joshua, Ciryl Gane, Gary A, Vasquez, Reuters “, it’s, ”, ” Ngannou, Andy Ruiz Jr, Joshuya, It’s, that’s, I’m, Jermaine Franklin, James Chance, – Joshua, Fury –, Eddie Hearn isn’t, ” Hearn, Usyk, “ It’s Organizations: CNN, UFC, Fury, Sky Sports, Guardian, Professional Fighters League, PFL, Reuters, Ngannou, BBC Locations: Riyadh, Saudi Arabia, Cameroon, Africa, Europe, Spain, Paris, French

☆ Oil prices slip after OPEC+ extends voluntary oil output cuts until mid-year
▼ + stars: | 2024-03-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: 1 min

Oil prices edged lower Monday after oil cartel OPEC+ agreed to extend voluntary output reductions until the second quarter, in an effort to support the short-term stability of crude markets. Global benchmark Brent slipped 0.05% to $83.52 a barrel Monday, while U.S. West Texas Intermediate futures traded down 0.19% at $79.82 per barrel. OPEC+ announced on Sunday that the 2.2 million barrels per day of voluntary output cuts that were planned for the first quarter of this year will continue into the next quarter. OPEC+ kingpin and de facto leader Saudi Arabia said it will prolong its voluntary cut of 1 million barrels per day until the end of the second quarter, state-owned Saudi Press Agency said Sunday. Riyadh's crude production will stand at approximately 9 million barrels per day until the end of June.

Persons: Brent Organizations: OPEC, Global, U.S, West Texas Intermediate, Saudi Press Agency Locations: OPEC, Saudi Arabia

☆ Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June
▼ + stars: | 2024-03-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, —, Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco

☆ Dubai wants to build the biggest airport in the world. Here’s how that’s going
▼ + stars: | 2024-02-29 | by ( Miquel Ros | ) edition.cnn.com time to read: +9 min

To put that in perspective, that’s nearly 63 million more travelers than the world’s current busiest airport, Hartsfield–Jackson Atlanta International, handled in 2022 and nearly 100 million more than Dubai International. philipus/Alamy Stock PhotoThe recent Dubai Air Show, held at a purpose-built venue at Al Maktoum International Airport in 2023, offered some intriguing hints about what’s ahead for DWC – and some insights into Dubai Airports’ long-term strategy. “We have prioritized expansion and investments at DXB to meet our customers’ requirements and plans,” Paul Griffiths, Dubai Airports CEO, tells CNN. Changing the business modelNew artist renderings haven't been released in a decade, but Dubai Airports CEO Paul Griffiths says the team will soon be working on ambitious new designs. It will have capacity for 185 million passengers per year, or almost seven times the number it handled in 2022.

Persons: Al Maktoum, it‘ll, that’s, Hartsfield –, let’s, DWC, ’ Al Maktoum, DWC –, ” Paul Griffiths, ”, Griffiths, ” Griffiths, “, haven't, Paul Griffiths, “ We’re, Mohammed bin Rashid, Nadine Itani, Abu Dhabi’s, Foster Organizations: CNN, Al, Al Maktoum International Airport, Dubai World, Dubai Airports, Dubai International, Al Maktoum International, Hartsfield, Hartsfield – Jackson Atlanta International, Emirates Cargo, UAE, ‘, ’ Al Maktoum International, Dubai Air, Dubai, AFP, Traveller, Emirates, University of Surrey, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air, Riyadh Air Locations: Budapest, Al Maktoum, Dubai, Dubai’s, Eastern Europe, Russia, Central Asia, Emirates, England, India, Middle, Europe, Qatar, Muscat , Oman, Bahrain, Gulf, Kuwait, British, Sharjah, Saudi Arabia, Riyadh, Saudi

CNN —Portuguese and Al-Nassr star Cristiano Ronaldo has been banned for one match and fined for “provoking” fans in a Saudi Pro League match on Sunday. In footage from the game, Ronaldo can be seen cupping his hand to his ear, taking in the chanting from the opposing Al-Shabab fans. Ronaldo gestures towards the Al-Shabab fans. As a result, Ronaldo has been suspended for one match, ordered to pay around $2,666 (10,000 riyals) to the SAFF and an additional $5,333 (20,000 riyals) to Al-Shabab for complaint filing fees. Ronaldo, a five-time Balon d’Or winner, joined Al-Nassr following an acrimonious exit from English Premier League side Manchester United in late 2022.

Persons: Cristiano Ronaldo, Al Nassr’s, Ronaldo, Al, Lionel Messi’s, Yasser Bakhsh, Waleed Al, Farraj, ” Ronaldo, Yannick Carrasco’s, Nassr, Anderson Talisca, Shabab, Carlos Júnior’s, Talisca, Hazm Organizations: CNN, Saudi Pro League, Riyadh, Al, Saudi Arabian Football Federation, English Premier League, Manchester United, Real Madrid, Juventus, Reuters Al Locations: Shabab, Al, Saudi

CNN —Cristiano Ronaldo has come under scrutiny for a gesture he made towards fans following Al-Nassr’s 3-2 win against Al-Shabab in the Saudi Pro League on Sunday. In footage from the match, fans can be heard taunting Ronaldo by chanting about Lionel Messi, a long-time rival of the 39-year-old forward. The gesture is now being investigated by the Saudi Arabian Football Federation (SAFF), according to Saudi-owned media outlet Asharq Al Awsat, which cited unnamed sources. CNN has contacted Ronaldo’s representatives, the SAFF, Al-Nassr and Al-Shabab for further comment. It was Al-Nassr, however, which would have the final say as Talisca’s second goal deep into the match completed a 3-2 victory in an exciting encounter.

Persons: CNN — Cristiano Ronaldo, Ronaldo, Lionel Messi, Al Awsat, Nassr, –, Yannick Carrasco’s, Shabab, Carlos Júnior’s, “, Waleed Al, Farraj, Asharq Al Awsat, John Duerden, ” Organizations: CNN, Al, Saudi Pro League, Saudi Arabian Football Federation, Guardian Locations: Shabab, Saudi, Al, Riyadh, Hilal, Portuguese, Saudi Arabia

☆ Saudi energy minister pins Aramco's oil capacity halt on green transition
▼ + stars: | 2024-02-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022. And transitioning means that even our oil company, which used to be an oil company, became a hydrocarbon company. The Saudi energy minister on Monday qualified the decision was not made hastily and was the product of a continuous review of market conditions. "Why should we be the last country to hold energy capacity, or emergency capacity, when it is not appreciated? the Saudi energy minister said.

Persons: Abdulaziz bin Salman Organizations: Bloomberg, Getty, Aramco, Energy, International Petroleum Technology, Monday, of, Petroleum Locations: Aramco, Saudi, Dhahran, Saudi Arabia, Riyadh, Moscow

☆ Oleksandr Usyk missed the birth of his daughter before Tyson Fury pulled out of blockbuster fight
▼ + stars: | 2024-02-07 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Oleksandr Usyk has revealed that he missed the birth of his daughter before Tyson Fury pulled out of their blockbuster fight due to injury. Usyk and Fury had been due to fight on February 17 to crown the undisputed heavyweight champion, with all four of the division’s belts on the line. The winner would become the first undisputed heavyweight champion since Lennox Lewis in 1999. And their February fight in Riyadh, Saudi Arabia, looked like boxing fans would finally get their wish and see an undisputed heavyweight champion crowned. But weeks before the bout, Fury sustained an injury while sparring in training camp above his right eye which required stitches, resulting in the delay.

Persons: Oleksandr Usyk, Tyson Fury, Usyk, Fury, “, ” Usyk, Anthony Joshua, Francois Nel, Lennox Lewis, It’s, Francis Ngannou –, –, “ I’m, ” Organizations: CNN, British, WBC, WBA, WBO, BBC Locations: Spain, Ukrainian, Riyadh, Saudi Arabia, Ukraine

☆ Turkey's Drone Maker Baykar Begins to Build Plant in Ukraine
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

Baykar has said it has signed export deals for its TB2 drone with 30 countries. These include Ukraine, Ethiopia, Libya and Azerbaijan since 2018, according to think tank SIPRI. Bayraktar also said the Istanbul-based firm's plans to start production in Saudi Arabia in the next two years were on track. The announcement follows an agreement in July to sell the Bayraktar Akinci, another kind of drone, to Saudi Arabia in what Baykar described as the biggest defence contract in Turkey's history. It also aims to produce the new models of the Kızılelma and the TB3 drones "in the tens," he added.

Persons: Pesha Magid, Baykar, Haluk Bayraktar, Bayraktar, Lockheed Martin, Federico Maccioni, Alexandra Hudson Organizations: Reuters, World Defense, U.S, Lockheed, Saudi Locations: Pesha, Pesha Magid RIYADH, Turkish, Kyiv, Ukraine, Ethiopia, Libya, Azerbaijan, Riyadh, Israel, Gaza, Ukrainian, Istanbul, Saudi Arabia

Secretary of State Antony J. Blinken began a diplomatic push in the Middle East on Monday for a deal that would pause the war in the Gaza Strip and release the hostages there, even as a drone struck a military base used by American troops and allied forces in eastern Syria. Mr. Blinken, making his fifth trip to the region since the Oct. 7 attack on Israel, met in Riyadh with Saudi Arabia’s crown prince, Mohammed bin Salman, in the first stop on a trip that will also include meetings in Egypt, Qatar, Israel and the West Bank. Speaking with the crown prince, the kingdom’s de facto ruler, Mr. Blinken “underscored the importance of addressing humanitarian needs in Gaza and preventing further spread of the conflict,” the State Department said. It added that they discussed “an enduring end to the crisis in Gaza that provides lasting peace and security for Israelis and Palestinians alike.”

Persons: Antony J, Blinken, Mohammed bin Salman, Blinken “, ” Organizations: West Bank, State Department Locations: Gaza, Syria, Israel, Riyadh, Saudi, Egypt, Qatar

Through five games, Inter Miami has been outscored 12-7 and won only once. Inter Miami coach Gerardo Martino apologized for Messi's absence after Sunday's Hong Kong match. Fans who saw practice on Saturday at least saw the Argentina captain in a kick-around, with Miami co-owner David Beckham also on the field. “We understand the disappointment of the fans for the absence of Leo (Messi) and Luis Suarez,” Martino said. Inter Miami is to practice on Tuesday on the outskirts of Tokyo with snow in the forecast.

Persons: —, Lionel Messi, Messi, Uruguayan Luis Suarez, Suarez, ” John Grady, ”, Grady, Gerardo Martino, David Beckham, Leo, Luis Suarez, ” Martino, “, Luis, ” Messi, Nassr, It's, Martino Organizations: TOKYO, Inter Miami's, Uruguayan, Vissel Kobe, Newell’s, Inter Miami, University of South, Associated Press, Miami, Al, Saudi Arabia —, MLS Locations: El Salvador, Dallas, Saudi Arabia, Hong Kong, Florida, Argentina, University of South Carolina, Riyadh, Japan, Tokyo

☆ Top US Diplomat Blinken Arrives in Saudi, First Stop on Mideast Trip
▼ + stars: | 2024-02-05 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - U.S. Secretary of State Antony Blinken arrived in Saudi Arabia on Monday, his first stop in a wider tour of the Middle East as Washington tries to advance negotiations on a normalization deal between the Kingdom and Israel as well as make progress on talks for the governance of postwar Gaza. The top U.S. diplomat’s fifth trip to the region since Hamas’ deadly Oct. 7 attack comes at a perilous moment and amid retaliatory U.S. strikes on Iran-backed militia across Syria, Iraq and Yemen in response to a drone strike last week in Jordan that killed three American troops and wounded dozens. Blinken is also set to visit Egypt, Qatar and Israel later this week and push to advance the Egyptian- and Qatari-mediated conversations with Hamas to achieve a hostage deal. In Riyadh, Blinken was expected to meet with the Kingdom’s de-facto ruler, Crown Prince Mohammed bin Salman, as well as his Saudi counterpart, foreign minister Prince Faisal bin Farhan Al Saud. War in Israel and Gaza View All 194 Images(Reporting by Humeyra Pamuk; Editing by Doina Chiacu)

Persons: Antony Blinken, Blinken, Prince Mohammed bin Salman, Prince Faisal bin Farhan Al Saud, Humeyra Pamuk, Doina Chiacu Organizations: WASHINGTON, Washington, Saudi Locations: Saudi Arabia, East, Kingdom, Israel, Gaza, Iran, Syria, Iraq, Yemen, Jordan, Egypt, Qatar, Riyadh

HONG KONG (AP) — Lionel Messi stayed on the bench for the full 90 minutes on Sunday as Inter Miami defeated a Hong Kong XI 4-1 in the latest stop on the MLS team’s preseason Asian tour. Messi played the final seven minutes of the losing effort but a tight hamstring kept the eight-time Ballon D’or winner on the sidelines in Hong Kong along with Uruguayan forward and former Barcelona teammate Luis Suarez. The fans who filled the same arena a day earlier at least saw the 2022 World Cup winner in an open training session along with Miami co-owner David Beckham. Robert Taylor opened the scoring for Miami five minutes before the break with a curling shot from the corner of the area. Miami finishes its Asian tour in Japan on Wednesday as it takes on Vissel Kobe.

Persons: — Lionel Messi, Saudi Arabia’s, Messi, Ballon, Luis Suarez, David Beckham, Robert Taylor, Henri Anier, Jorn Andersen, Lawson Sunderland, Miami’s, Leonardo Campana, Ryan Sailor, ___ Organizations: Inter Miami, Hong, MLS, Hong Kong, Miami, Saudi, Uruguayan Locations: HONG KONG, Hong Kong, Nassr, Riyadh, Barcelona, Japan, Kobe

☆ Dubai is the economic jewel of the Middle East — now its Gulf neighbors are coming for a piece of the pie
▼ + stars: | 2024-02-03 | by ( Pete Syme | Beatrice Nolan | ) www.businessinsider.com time to read: +8 min

According to Forbes' 2023 Travel Guide, Dubai has nine 5-star hotels , compared to Abu Dhabi's three and two in Qatar and Saudi Arabia. Saudi Arabia has made it clear that it wants in on international travel, stating it aims to attract 100-150 million visitors by 2030. Saudi Arabia is catching up with a new airlineThe competition is perhaps the most heated in the aviation industry. On its double-decker Airbus A380, Dubai's airline, Emirates, has top amenities like a shower for business-class passengers, plus an on-board bar. AdvertisementAnd even if it succeeds in attracting tourists to Saudi Arabia, it is unlikely to knock Emirates off its perch.

Persons: —, Saudi Crown Prince Mohammed bin Salman Al Saud, Saudi Arabia hasn't, Abu, Abu Dhabi, Forbes, Abu Dhabi's, Faisal Alibrahim, Alibrahim, Mohammed Bin Salman, Kristian Coates Ulrichsen, Ulrichsen, Skytrax, Pete Syme, Tony Douglas, Douglas, That's, OAG Organizations: Service, United Arab Emirates, Business, Saudi Crown, Etihad, Bloomberg, CNN, Saudi, Economic, Rice, Baker Institute for Public Policy, Emirates, Qatar Airways, Qatari, Etihad Airways, Riyadh Air, Air, Riyadh Air's Boeing, Boeing, Dubai International Airport Locations: Dubai, Gulf, Saudi, Saudi Arabia, Riyadh, Abu, UAE, Qatar, Davos, Neom, Emirates, Still, Kingdom of Saudi Arabia, Europe, Americas, Africa, Asia

☆ S.Korea Defence Minister Heads to Middle East for Talks, Arms Expo
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - South Korea's defence minister Shin Won-sik departs on Thursday for a seven-day trip to the Middle East to hold ministerial talks and attend an arms exhibition in Saudi Arabia, the ministry said. He will also travel to Saudi Arabia on Saturday for the World Defense Show in Riyadh before heading to Qatar to meet Khalid bin Mohammed Al Attiyah, the country's defence minister. South Korea has emerged in recent years as one of the world's biggest arms exporters with sales jumping to $17 billion in 2022 from $7.25 billion the year before, data from the defence ministry showed. The country's arms exports to the Middle East grew nearly tenfold between 2013 and 2022, according to the Korea Chamber of Commerce and Industry. War in Israel and Gaza View All 194 ImagesExperts say arms sales have been buoyed by South Korea's price competitiveness and ability to ensure speedy delivery.

Persons: Shin Won, sik, Shin, Mohammed bin Mubarak Al Mazrouei, Khalid bin Mohammed Al Attiyah, Hyunsu Yim, Ed Davies Organizations: United Arab Emirates, South, Akh Unit, World Defense, Korea Chamber of Commerce, Industry Locations: SEOUL, Saudi Arabia, Riyadh, Qatar, Korea, Israel, Gaza

☆ Saudi Aramco Abruptly Drops Plans to Expand Oil Production
▼ + stars: | 2024-01-30 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

Saudi Aramco said Tuesday that it would call off plans to expand its oil output, a remarkable turnaround by one of the world’s leading petroleum producers. Aramco, the national oil company of Saudi Arabia, said it had been directed by the government in Riyadh to maintain its “maximum sustainable capacity” of crude oil production at 12 million barrels a day, and give up a drive to increase it to 13 million barrels a day by 2027, a plan announced several years ago. But it could be a sign that the Saudis are changing their thinking about future supply and demand for their oil. Global oil supplies have recently been stronger than the Saudis anticipated because of strong growth in output from shale drilling in the United States, which is now the world’s leading oil producer, and other sources. “The decision probably reflects a view that the world does not need as much Saudi oil as was previously expected,” said Neil Beveridge, an analyst at Bernstein, a research firm.

Persons: ”, Neil Beveridge, Bernstein Organizations: Saudi Aramco, Aramco Locations: Saudi, Saudi Arabia, Riyadh, United States

☆ UAE Sends First Ambassador to Syria Since Conflict
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

Incoming Emirati envoy Hassan al-Shehi presented his credentials to Syria's foreign affair minister Faysal al-Meqdad at the foreign ministry on Tuesday. Saudi Arabia, Qatar and, to a lesser extent, the UAE then backed rebels against Assad - but Abu Dhabi has rebuilt ties with Damascus in recent years. Assad visited the UAE in 2022 - his first trip to an Arab state since the civil war erupted - and again in 2023 after a devastating earthquake killed thousands in Syria. The tragedy cleared the way for a thaw in Arab ties with Assad and months later the Arab League reversed its more than decade-long suspension of Syria's membership. Hundreds of thousands of people have died in the Syria conflict, which spiralled out of an uprising against Assad, drew in numerous foreign powers and splintered the country.

Persons: Hassan al, Shehi, Faysal, Bashar al, Assad, Abu Dhabi, Firas Makdesi, Maya Gebeily, Ed Osmond Organizations: United Arab Emirates, Incoming, Arab League, Regional Locations: DAMASCUS, Damascus, Syria, Saudi Arabia, Qatar, UAE, Iran, Al, Riyadh

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