Saudi Aramco has signed a shareholder agreement with DHL International to establish a new global procurement and logistics center in Saudi Arabia, according to a statement issued by the company on Monday.   The center, which is the first of its kind in the region, meets the needs of…

Hossam Haiba, CEO of the General Authority for Investment and Free Zones (GAFI), met with Ambassador Osama bin Ahmed Naqli, Ambassador of the Kingdom of Saudi Arabia to Cairo, to discuss investment plans and Saudi investment expansions in Egypt.   The two sides discussed the Saudi investment plan in Egypt…

  Saudi Arabia and Russia confirmed, on Thursday, their commitment to the decision taken by the “OPEC +” group, last October, to reduce production by two million barrels per day until the end of the year 2023.   The Saudi Press Agency, “SPA”, said that the Saudi Minister of Energy,…

  Saudi Arabia revealed a huge deal to buy 78 new “Boeing 787 Dreamliner” aircraft, which represents a great gain for the US company Boeing, as it is the fifth largest commercial order in terms of value in its history.   The White House welcomed the agreement, which it described…

  Saudi Crown Prince Mohammed bin Salman announced recently the establishment of the Public Investment Fund, “Riyadh Airlines”, the new Saudi air carrier.   The new airline will contribute to the development of the air transport sector and enhance the Kingdom’s strategic location that connects three of the most important…

The  (CANSO), in cooperation with the Magazine (ATM Magazine), announced that the Saudi Air Navigation Services Company won second place in the world in the Airspace Management Award for 2022.   The major international companies specializing in air navigation competed for this position.   Basically, this achievement is an affirmation…

Saudi Aramco announced Thursday the laying of the foundation stone for the Shaheen Petrochemical Project in Ulsan, Republic of South Korea. The project amounts to about 26.5 billion riyals ($7 billion), with the participation of the President of the Republic of South Korea, Yoon Sok Yul, and the President and…

The Saudi Minister of State for Foreign Affairs Adel Al-Jubeir discussed with Burg Brende, President of the World Economic Forum, in Riyadh  (Tuesday), prospects for joint cooperation between the two sides.   Al-Jubeir and Brende reviewed the most important developments related to economic aspects and discussed regional and international issues…

The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Murshed, met in the capital, Manila, with the President of the Asian Development Bank (ADB), Masatsugo Asakawa, to discuss development cooperation frameworks between the two parties.   During the meeting, they reviewed the development projects funded by the…

  Most Gulf stock markets closed higher on Monday, ignoring the drop in oil prices, and the Dubai index led the gains after the largest-ever increase in the share of Emaar Development Company in a day. In contrast, the Egyptian index continued its decline. Oil prices, a major driver of…