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Saudi Arabia has mandated event organizers to implement governance rules for hosting events and submit a report to the Events Committee under the Council of Economic and Development Affairs within 30 days of an event’s conclusion, Asharq Al-Awsat has learned. The report must detail the application of governance regulations, challenges encountered, and recommendations for improvement. The kingdom hosts numerous events throughout the year as part of efforts to expand its exhibitions and conferences sector. The initiative aims to enhance the industry, attract global events, promote Saudi Arabia’s unique opportunities and advantages, and reinforce its leadership in the international exhibitions and…

Reuters/Faisal Al Nasser Umm Al Qura is the latest in a series of companies to list shares on the Saudi exchange this year Shares of Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a massive mixed-use project in the holy city of Mecca, will start trading on the Saudi stock exchange next week. The stock will be subject to a daily and static price fluctuation limit of plus or minus 30 percent and plus or minus 10 percent, respectively, the Saudi Exchange said in a statement. Umm Al Qura becomes the latest in a series…

Alamy US respect matters for Crown Prince Mohammed Bin Salman while he solidifies his position as Saudi heir apparent Donald Trump’s approach to policy is often described as transactional: he is a tough New York dealmaker, not a politician from the Washington swamp.  Yet the president’s rhetoric thus far when it comes to international economic relationships – from Mexico to the EU – has come across as more narrowly focused than supportive of mutually beneficial agreements. Robert Mogielnicki, a scholar at the Arab Gulf States Institute in Washington, says that the second coming of Trump’s “Make America Great Again” platform…

Porsche Newsroom Icons of Porsche drew 28,000 people for its fourth edition in Dubai last year If you happened to be around Dubai’s extremely chic Design District in late November last year, you were probably extremely confused.  Instead of the fashionable folk who normally pose, preen and prowl through the area, you would have witnessed hundreds of Porsches of every model and description taking part in the mother of all car shows.  Yes, I’m talking about Icons of Porsche, an annual gathering of enthusiasts which drew an eye-popping 28,000 people for its fourth edition last year.  But how did distinctly…

Crown Prince Mohammed bin Salman received the Governors of Saudi Arabia’s regions, praising their efforts in supporting national development and Vision 2030.Jeddah, Saudi Arabia, March 20, 2025 – His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, warmly welcomed the Governors of the Kingdom’s regions today at Al-Salam Palace in Jeddah, in celebration of their 32nd annual meeting. This important gathering provided an opportunity for the Crown Prince to receive detailed briefings on the most prominent topics discussed during the meeting, which focused on key areas of governance, development, and…

13-screen state-of-the-art multiplex features fully reclining seats, cutting-edge technology, gourmet F&B and a variety of unique ways to watch, VOX Cinemas providing the ultimate movie-going experience VOX Cinemas, the dedicated cinema arm of Majid Al Futtaim, today inaugurated its latest movie theatre in Saudi Arabia, which will provide audiences with a best-in-class experience. Centrally located in Jeddah Park, a one-stop destination for retail and entertainment, the 13-screen multiplex has been designed with movie lovers in mind and features a variety of unique cinematic concepts including GOLD, IMAX® with Laser technology and Private Cinema. Anmar AlQurashi, Managing Director – Saudi Arabia and…

Valu EFG Holding will retain a 67 percent indirect stake in U Consumer Finance Egypt’s EFG Holding will list its buy-now, pay-later subsidiary on the Egyptian stock exchange as part of a restructuring process, the bank has announced. As part of the restructuring plan, the Cairo-listed investment bank intends to pay its 2024 profit by distributing a 20.5 percent stake in U Consumer Finance, known by its brand name, Valu, to shareholders instead of paying a cash dividend. Shareholders in EFG Holding will receive shares in U Consumer at book value and will be able to trade them on the…

Oil prices rose on Thursday, boosted by a strong outlook for demand in the United States after fuel inventories fell more than expected, and a weaker US dollar. Brent crude futures were up 34 cents, or 0.5%, to stand at $71.12 a barrel by 0745 GMT, their highest level since March 3. US West Texas Intermediate crude (WTI) gained 42 cents, or 0.6%, to $67.58. US government data showed a higher-than-expected drawdown last week in distillate inventories, including diesel and heating oil, which fell by 2.8 million barrels, outstripping a drop of 300,000 barrels expected in a Reuters poll. “US…

KSrelief distributed 1,500 food baskets to 10,182 displaced individuals in Khartoum as part of the Food Security Support Project in Sudan.Khartoum, Sudan, March 20, 2025 – The King Salman Humanitarian Aid and Relief Center (KSrelief) has distributed 1,500 food baskets in Khartoum State, Republic of Sudan, benefiting 10,182 displaced individuals as part of the third phase of the Food Security Support Project in the country. This initiative is designed to assist displaced populations in Sudan, particularly those affected by ongoing humanitarian crises and conflict. The distribution is a key component of Saudi Arabia’s broader commitment to supporting the Sudanese people…

 LTIMindtree, a global technology consulting and digital solutions company, announces the inauguration of its regional headquarters in Saudi Arabia’s capital, Riyadh, as part of the expansion in KSA and the Middle East.   The opening of this office is in line with the KSA government’s Regional Headquarters Program and a key milestone enabling LTIMindtree to support, manage, and direct its strategic business initiatives in the region. This also aligns with KSA’s wider vision for 2030, strategy for economic diversification, development, and growth.   This new office, situated in Riyadh’s iconic business district and lifestyle destination, King Fahd Road, was inaugurated…