Saudi Arabian airline Saudia has placed a significant order for 100 electric vertical takeoff and landing (eVTOL) vehicles from the German air taxi firm Lilium. This move marks a major step towards integrating flying taxis into mainstream transportation, with the deal set to be finalized during an upcoming event at
Saudi Arabia has warned it might sell off European debt if the G-7 seizes $300 billion in frozen Russian assets to support Ukraine. This threat highlights Saudi Arabia’s economic power and concerns that similar actions could target Gulf states in the future. The G-7, including the US and UK, supports
A Saudi writer and producer, Abdul Aziz al-Muzaini, has been sentenced to 13 years in prison and faces a 13-year travel ban for his Netflix show and old tweets that allegedly promoted terrorism and homosexuality, sparking controversy and international scrutiny. Al-Muzaini revealed this in a now-deleted video directed at Saudi
Discover the colossal scale of Saudi Aramco, Saudi Arabia’s national oil company, which holds an unmatched 259 billion barrels of oil and gas reserves, dwarfing all other global competitors. This vast resource base contributes significantly to Saudi Aramco’s staggering $1.8 trillion valuation, making it the sixth-largest company worldwide by market
Over 1,000 lives were lost in a deadly heatwave during this year’s Hajj, with a significant number being unregistered pilgrims, including 630 Egyptians. The pilgrimage in Saudi Arabia’s scorching Mecca saw temperatures peak at 51.8°C (125°F) this week, highlighting severe health risks. Over a thousand people have died during this
Saudi Arabia’s termination of its 80-year petrodollar deal on June 9, 2024, may reshape global oil markets, as it considers selling oil in currencies like the Chinese yuan, impacting US economic dominance. According to media sources, Saudi Arabia has chosen not to extend its 80-year petrodollar agreement with the United
The Wall Street Journal has reported that officials have revealed Biden will offer Saudi Arabia a defense treaty in exchange for official ties with Israel. The White House is ready to present a strategy that calls for new formal connections between Riyadh and Tel Aviv in exchange for Saudi Arabia
According to a filing with the Hong Kong Stock Exchange by China’s Sinopec, they will build gas pipelines for Saudi Aramco in a $1-billion deal. Sinopec, a Chinese energy behemoth, announced on Thursday that it has reached an agreement worth $1.3 billion with Saudi Aramco to acquire and construct pipes
Saudi Aramco’s $12 billion share sale last Sunday, selling 1.545 billion shares at 26.70-29 riyals each, saw immediate success, attracting keen interest from global investors. In a filing with the Saudi Exchange last week, Saudi Aramco (ARMCO), the country’s largest energy corporation, announced its intention to sell shares in the