Official holidays for Eid Al Adha have been announced in the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain
Saudi Arabia
Hajj
Saudi Arabia issues Hajj heat warning
Ministry of Hajj and Umrah issues safety guidelines for pilgrims in Saudi Arabia amid extreme heat forecast
border regulations
Saudi Arabia arrested over 12,100 last week in residency and labour operations
Saudi Arabia announces more than 12,100 arrests in a single week as it clamps down on residency, labour and security breaches
kuwait oil production
OPEC+ countries announce oil production increase
OPEC+ countries including Saudi Arabia and UAE announce increase to oil production levels
Hyatt
Hyatt eyes Middle East growth as Q1 revenues increase
Hyatt looks to triple Saudi portfolio of hotels as it eyes growth in the Middle East
Aviation
Saudi Arabia’s flynas launches Riyadh to Damascus flights to boost Syria tourism
Flynas to launch Riyadh to Damascus flights to boost Saudi-Syria connectivity
AI adoption
Saudi Arabia joins the race to be the next Silicon Valley of the Middle East
The Saudi government’s $40bn AI investment push aims to transform the country into a competitive innovation hub, triggering a large-scale influx of global talent
consultancy firms
FTI Consulting expands to Riyadh with new office in King Abdullah Financial District
The global advisory firm FTI Consulting provides a range of business advisory services to both domestic and international corporations in the public and private sectors
ACWA Power
Saudi’s ACWA Power eyes $10bn investment through new partnerships in Malaysia
The partnership pacts aim to create powerful synergy between Malaysia’s innovative ecosystem and Saudi Arabia’s energy transition expertise
EY
MENA region records $46bn in M&A activity in Q1
UAE leads MENA region in M&A activity as volumes and value see significant gains
Aramco
Saudi Aramco issues 5-30 year dollar-denominated bonds for $5bn
The oil giant still has a low gearing ratio among global oil companies, which gives them room for increased borrowing, if needed
China
China announces visa-free travel for Saudi, Oman, Kuwait and Bahrain
China has announced visa-free travel for all GCC nationals
aseer
Saudi real estate: ARDARA to launch lifestyle community in Al Wadi with luxury hotels and homes
Aseer Governor and ARDARA announce new luxury community in Al Wadi, Saudi Arabia
Aviation
Flynas IPO attracted $109bn in orders, retail subscription open
Saudi Arabia’s flynas set IPO price at SR80 per share
Arab Light Crude
Saudi Arabia may cut July oil prices to Asia amid OPEC+ supply surge: Report
Saudi crude official selling prices are usually released around the fifth of each month, and set the trend for Iranian, Kuwaiti and Iraqi prices
commercial real estate
GFH Capital, Al Tijaria announce logistics partnership focused across GCC region
Under the agreement, Al Tijaria will act as a technical advisor for one of GFH Capital’s logistics funds
infrastructure investment
Riyad Capital announces $270mn project in Saudi city of Abha
To be built in collaboration with Mdr Development, the Shalalat Abha Project will be spread across an area of 1mn square meters