Page 20 - Saudi Arabia

Spanish govt to buy Telefonica stake worth as much as $2.2 billion

Sepi, Spain's investment vehicle, will buy as much as 10 per cent of Telefonica's shares - a stake that may total more than €2 billion - in an effort to provide "greater shareholder stability"

Saudi Arabia emerges as top destination for skilled workers: Govt to LS

The data showed that 13,944 skilled candidates got jobs in Saudi Arabia, followed by Qatar (3646), United Arab Emirates (2832) and the United Kingdom (1248)

NSDC inks MoU with Saudi govt to protect rights of Indian skilled labourers

The National Skill Development Corporation (NSDC) has signed a Memorandum of Understanding (MoU) with the government of Saudi Arabia to protect the rights of skilled labourers from India. "Skilled labourers in India can register themselves at NSDC... after which we will come to know where they are going, for which work and with whom they will be working," NSDC CEO Ved Mani Tiwari said. The registration process will be free of cost, he said, adding that skilled labourers from all categories, including AC mechanics, and car painters, can register themselves on NSDC. "Skill India Mission was launched by Prime Minister Narendra Modi. Currently, we are working with 13 countries and in the coming days we are going to open 30 skill international centres," he said. It is not true that all agents through whom people go to Saudi Arabia from India are bad, and if people want to go via agents, they may do so, but they have to register at NSDC, he said, adding that the documentation will be don

Saudi registrants for COP28 included undeclared oil company employees

At least 15 people who registered for Saudi Arabia's delegation to the COP28 climate conference in Dubai appear to be undeclared employees of the Saudi state oil company, according to research by an environmental nonprofit. Saudi Arabia, the world's second-biggest oil producer, was one of the main countries opposing an aggressive commitment to phase out fossil fuels at the United Nations-led summit. Saudi Arabia and other large oil-producing nations have traditionally held sway in nixing potential agreements on reducing oil, gas and coal, which when burned cause climate change. This year, however, negotiators went into extra time before approving an agreement that calls for a transition away from fossil fuels for the first time, though critics say it is filled with loopholes. New rules for this year's talks required registrants to disclose their affiliation, a move aimed at improving transparency. Activists have long questioned the presence of fossil fuel producers at the talks, ..

Saudi minister inaugurates first global labour market conference in Riyadh

Minister of Human Resources and Social Development (MHRSD) of Saudi Arabia Ahmad bin Sulaiman Al-Rajhi inaugurated the first Global Labor Market Conference (GLMC) at the King Abdulaziz International Convention Centre here on Wednesday. The opening ceremony, presided over by Al-Rajhi, saw over 6,000 participants and attendees from over 40 countries, including ministers of Saudi Arabia, policymakers, leaders of multinational organisations, heads of business, academics, and representatives of labour. In his opening address, Al-Rajhi highlighted Saudi Arabia's role in pioneering efforts that bolster international labour markets, allowing them to keep pace with frequent changes. Dynamics of the labour market today are altogether different from those in the past, including an increased demand for skills required by future jobs, new professions, and the changing nature of the global workforce. Al-Rajhi shared statistics on the ongoing labour market dynamics, both related to emerging ...

Saudi Arabia steps up efforts to welcome 7.5 mn Indian travellers by 2030

Saudi Arabia has stepped up its effort to attract tourists from India and is eyeing to welcome 7.5 million travellers from the country by 2030, Saudi Tourism Authority Trade Markets Director, India and the Subcontinent, Meshaal Qureshi said on Wednesday. India is the third biggest source of tourists in the Asia-Pacific (APAC) region. "India is Saudi's third biggest source market in the APAC region, with 1.18 million visits in 2023 alone so far, while more than 1.88 million expats from India live and work in Saudi," Qureshi said while addressing Nusuk roadshow. "We are pleased to see increasing demand for travel from India to Saudi for spiritual and leisure purposes especially as we aim to welcome 7.5 million Indian travellers by 2030," he said. In 2022, Saudi Arabia saw one million Indian visitors who were the highest spenders among all its source markets globally due to the Visit Friends and Relatives (VFR) segment, he said. Qureshi said with collaboration and innovation, Saudi .

Russian President Vladimir Putin visits Saudi Arabia, UAE amid COP28

Russian President Vladimir Putin began a trip on Wednesday to Saudi Arabia and the United Arab Emirates, hoping to shore up support in the Mideast from two major oil producers allied to the US as his war on Ukraine grinds on. Putin landed in Abu Dhabi, the capital of the Emirates, a federation of seven sheikhdoms now hosting the United Nations' COP28 climate talks. It marked his first trip to the region from before the coronavirus pandemic and the war and as he faces an arrest warrant from the International Criminal Court over the war in Ukraine. Neither Saudi Arabia nor the UAE has signed the ICC founding treaty, meaning they don't face any obligation to detain Putin over the warrant accusing him of being personally responsible for the abductions of children from Ukraine during his war on the country. Putin skipped a summit in South Africa over concerns he could be arrested on arrival there. Sheikh Abdullah bin Zayed Al Nahyan, the UAE's foreign minister, met a smiling Putin after

Centre committed to making Haj inclusive, accessible: Smriti Irani

Minority Affairs Minister Smriti Irani on Tuesday held talks with Saudi Arabia's Minister of Haj and Umrah Tawfiq bin Fawzan Al-Rabiah as both countries vowed to work together to make the Haj process as convenient and as seamless as possible with best provision of services for pilgrims. Irani asserted that the government is committed to making Haj inclusive and accessible towards all segments of society. She made the remarks in a press statement with Tawfiq bin Fawzan Al-Rabiah alongside her. "We today held productive discussions on how to further deepen our engagements and especially our cooperation for Haj. Both nations have agreed to continue to work together to make the Haj process as convenient and as seamless as possible with best provision of services for all Haj pilgrims," Irani said. "We are deeply appreciative of the help that we have received from the Kingdom of Saudi Arabia for extending special help and cooperation for the smooth conduct of Haj not only every year, but

Opec+ ministers meet to discuss additional oil output cuts for next year

The size of potential additional cuts have not been decided yet, but two delegates said they ranged from 1 million to 2 million barrels per day (bpd) for the first quarter of 2024

Explained: Why Opec+ members find it hard to agree oil production quotas

OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficult to fix on a permanent production target.

Saudi Arabia to buy 10% stake in Heathrow airport in ownership reshuffle

The fund is buying the stake as Spain's Ferrovial sells down its 25 per cent holding

Saudi Arabia's capital Riyadh to host World Expo 2030, beats S Korea

Saudi Arabia's capital Riyadh was chosen on Tuesday to host the 2030 World Expo, beating out South Korean port city Busan and Rome for an event expected to draw millions of visitors. Riyadh was picked by a majority of 119 out of 165 votes by the member states of the Paris-based Bureau International des Expositions.

India's engineering exports surge in US, Saudi Arabia, and UAE in October

The value of engineering exports to the US in October was $1.39 billion, up 2.2 per cent year-on-year, while shipments to the UAE rose 2.9 per cent to $348.6 million

Oil slips 1% to $81.11 a barrel on growing angst over delayed OPEC+ meeting

Producers - mainly a trio of African countries - were struggling to agree on output levels and hence possible reductions ahead of the meeting originally set for Nov. 26, OPEC+ sources said

Netherlands to Saudi Arabia: India's key export hubs witness high growth

These countries have displayed high growth with India defying global slowdown

Brics meet: Saudi Arabia urges all nations to halt weapon exports to Israel

Saudi Arabia's Crown Price made this request during an extraordinary BRICS Joint Meeting, which was being held virtually to address the Israel-Hamas conflict

A tightrope between Israel and Arab ties

A prolonged Israel-Hamas conflict may, at some point, pose a threat to Indian financial assets

Vedanta's arm Malco Energy sets up new unit in Saudi for copper business

Vedanta's arm Malco Energy Ltd has set up a new unit in Saudi Arabia for copper business at an investment of 1,00,000 Saudi riyals (Rs 22.19 lakh). "Malco Energy Ltd, a wholly-owned subsidiary of the Company, has incorporated a new wholly-owned Subsidiary in the name of 'Vedanta Copper International VCI Company Limited," metal and mining giant Vedanta said in a filing to BSE. Vedanta Copper International VCI Company Limited has been incorporated to explore growth opportunities in new geographies, it said. Vedanta had earlier announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities with a view to creating shareholder value. "The de-merger is planned to be a simple vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the five newly listed companies," the firm had said in a stock exchange filing. The Board of Vedanta Ltd had approved "a pure-play, .

Why India's cricket league should turn down Saudi's $5 bn proposal

With its active support for expanding fossil fuel use, the Saudi government is wrong partner for the IPL and global cricket to achieve these goals

Best of BS Opinion: Saudi Arabia's cyber diplomacy, inflation & more

Here is the best of Business Standard's opinion pieces for today