The state-backed entity will invest in data centers, startups and other infrastructure to develop AI, the people said, asking not to be identified discussing plans that aren't yet public
Aramco's shares are down about 17 per cent this year, trailing the performance of Western oil majors Exxon and Shell, but broadly in line with BP, which is down 18 per cent
The research points out that regions such as Khaybar were significant urban centers that permanently maintained the stability of their communities, particularly with the introduction of agriculture
Ninety-four countries and international organisations joined the two-day conference in Riyadh from 30-31 October
Move aimed at ensuring a major captive market for its crude oil, even as Indian refiners mull reducing the share of expensive Saudi grades sourced under term contracts
India and Saudi Arabia are exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles and mining to further boost trade and investment ties, an official statement said on Friday. These areas were discussed during the recent visit of Commerce and Industry Minister Piyush Goyal to Riyadh. He co-chaired the second meeting of the economy and investment committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Saudi Arabia, Abdulaziz bin Salman Al-Saud on October 30 in Riyadh. "Both countries are exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles, mining," the commerce and industry ministry said. During the Future Investment Initiative (FII) event, the minister urged global investors to seize emerging opportunities in India, particularly in high-growth sectors such as artificial intelligence, renewable energy, digital ..
Saudi Arabia, its Gulf neighbours seek to reassure investors that it's safe to do business amid turmoil in West Asia
India and Saudi Arabia on Wednesday discussed ways to enhance cooperation in areas of fertilizers, petrochemicals, and mining to boost trade and investments. These sectors were discussed during a meeting between Commerce and Industry Minister Piyush Goyal and Saudi Minister for Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef in Riyadh. Goyal is in Riyadh on an official visit. "We further deliberated and explored potential areas for cooperation in the fertilizers, petrochemicals, and mining sectors," Goyal said in a post on a social media platform. Goyal also held bilateral talks with Khalid Al Falih, Minister of Investment, Saudi Arabia. "We engaged in insightful discussions on facilitating investments and explored significant opportunities for collaboration across sectors such as pharmaceuticals, automobiles and petrochemicals," he said. The minister also inaugurated the 'Lulu Wali Diwali' at the Lulu Hypermarket. "From the Apple orchards of Ladakh to the markets o
The sovereign wealth fund is the main vehicle for Crown Prince Mohammed bin Salman's plans to steer the Saudi economy away from oil
Commerce and Industry Minister Piyush Goyal will discuss ways to increase cooperation with Saudi Arabia in areas like renewable energy, digital infrastructure, and manufacturing during his two-day visit, an official statement said on Monday. The visit to Riyadh will begin from Tuesday. The commerce and industry ministry said Goyal will participate in the Future Investment Initiative (FII) in Riyadh, a crucial platform that brings together global leaders, investors, and innovators. His participation will highlight India's rapid economic growth, its focus on sustainable development, AI, and the immense opportunities in sectors like renewable energy, digital infrastructure, and advanced manufacturing, it said. On the sidelines of the FII, the minister will engage with prominent global investors. "These interactions aim to strengthen investor confidence, facilitate investment flows, and promote India as a preferred global investment destination," it said. He will also hold bilateral
International executives will have to contend with a region rocked by geopolitical tensions, with the threat of further military confrontation between Israel and Iran at the highest levels in decades
This comes after Israel Defence Forces (IDF) on Saturday announced that its military had conducted precise strikes on Iranian military targets
Iraq's commission governing media announced Saturday that it would take steps to revoke the license of a Saudi television station to operate in the country. That came hours after dozens of supporters of Iraqi militias stormed and looted the office of the broadcaster, MBC, in Baghdad in protest over a report that described a number of Iranian-linked militant figures including a prominent Iraqi militia leader as terrorists. The report on terrorists who had been killed this century mentioned former al-Qaida leader Osama bin Laden alongside a roster of Iran-backed figures. They included Hamas leaders Ismail Haniyeh and Yahya Sinwar, Hezbollah leader Hassan Nasrallah, Iranian Gen. Qassem Soleimani and Abu Mahdi al-Muhandis, a veteran Iraqi militant who was the deputy commander of the Popular Mobilization Forces, an umbrella group of mostly Shiite paramilitaries and founder of the Kataeb Hezbollah, or Hezbollah Brigades. Iraq's Media and Communications Commission said in a statement th
Saudi Arabia has launched a new initiative that aims at promoting quality of life and developing stronger bonds between the local society and the Indian and other expatriate communities through cultural promotion. Unveiling the Global Harmony initiative here on Wednesday night, Saudi deputy minister for media Khalid bin Abdulqader Al-Ghamdi, said, This initiative will also showcase the different cultures of the expats and how they are living in harmony. The Global Harmony initiative is a part of Saudi Arabia's Quality of Life programme to attain its 'Vision 2030' objectives. Ambassador of India Suhel Ajaz Khan and top diplomats of many other countries were present on the occasion. After the launch, Al-Ghamdi said Indians living in Saudi Arabia are contributing in a large way to the greater Saudi society. Khan said Indians are the largest expat community in Saudi Arabia with an approximate 2.6 million people. The Indian community is increasing. Last one year itself, the community h
Al-Ghamdi's statement comes after Saudi Arabia's Ministry of Media launched the 'global harmony' initiative in Riyadh
What is worth noting is that Saudi Arabia has gone all out to develop and leverage advanced science and technology to underpin its rapid economic and social transformation
Saudi Arabia has put to death a Filipino citizen convicted of murder despite years of efforts by the Philippines to prevent the execution, including a presidential appeal, officials said Monday. Philippine President Ferdinand Marcos Jr and other officials did not provide details, including the identity of the Filipino and the nature of the case, citing a family request for privacy. A Philippine official with knowledge of the case, however, said the Filipino was arrested by Saudi Arabian authorities in 2020 after being accused of the killing. The death penalty was handed down with finality last year and the execution was carried out on Saturday, the official said. The official spoke on condition of anonymity because of a lack of authority to discuss the details of the execution publicly. Asked by reporters for comment, Marcos said the execution was very unfortunate and that his administration would provide help to the executed person's family. We appealed to the better nature, I gu
New Delhi will have a variety of supply choices in the next few months at competitive rates from Russia, Iraq, Saudi Arabia
The world's top oil exporter raised $6 billion from a three-tranche bond sale in July
Saudi Arabia has raised concerns about the growing number of Pakistani beggars arriving in the Kingdom under the guise of religious pilgrimage and asked Islamabad to take action to prevent them from entering the Gulf country, a media report said on Tuesday. Citing sources from Pakistan's Ministry of Religious Affairs, the Express Tribune newspaper reported that the Saudi authorities have also warned that if the situation is not controlled, it could negatively affect Pakistani Umrah and Hajj pilgrims. "The Saudi Ministry of Hajj has issued a warning to Pakistan's Ministry of Religious Affairs, urging action to prevent Pakistani beggars from entering the kingdom under Umrah visas," the paper said. In response, Pakistan's Ministry of Religious Affairs has decided to introduce an "Umrah Act," which aims to regulate travel agencies facilitating Umrah trips, bringing them under legal oversight, it said. Additionally, the ministry has asked the Pakistani government to find ways to prevent