Page 20 - Saudi Arabia

CAG, General Court of Audit of Saudi Arabia sign pact for mutual support

The Comptroller and Auditor General of India (CAG) has signed a pact with the General Court of Audit, Kingdom of Saudi Arabia to strengthen cooperation and exchange of expertise between the two nations in the field of public sector auditing. The area of cooperation encompasses conducting joint training programmes on topics related to financial, performance and compliance audits and exchange of audit manuals and audit methodologies, the CAG said. The Memorandum of Understanding (MoU) was signed on Thursday in Riyadh. "Our commitment to a strong bilateral relationship is a witness to the shared values and objectives of our institutions and will serve to reinforce bonds between our SAIs and our nations," CAG Girish Chandra Murmu said. The CAG stated that the support and cooperation between the two SAIs will energise their capacity development initiatives and encourage exchange of knowledge and information between the two Supreme Audit Institutions (SAIs). Hussam Abdulmohsen Alangari,

Saudi Arabia's sovereign wealth fund refinances $15 bn loan with banks

The PIF, as the fund is known, has spent much of the year hunting for new sources of cash as it looks to push ahead with a massive investment plan intended to help diversify the Saudi economy

Prince Mohammed forged king's sign on Yemen war decree: Ex-official

A former Saudi official alleged in a report that Saudi Arabia's Crown Prince Mohammed bin Salman forged the signature of his father on the royal decree that launched the kingdom's yearslong, stalemated war against Yemen's Houthi rebels. Saudi Arabia did not immediately respond to a request for comment over the allegations made without supporting evidence by Saad al-Jabri in an interview published Monday by the BBC, though the kingdom has described him as a discredited former government official." Al-Jabri, a former Saudi intelligence official who lives in exile in Canada, has been a yearslong dispute with the kingdom as his two children have been imprisoned in case he describes as trying to lure him back to Saudi Arabia. The allegation comes as Prince Mohammed now serves as the de facto leader of Saudi Arabia, often meeting leaders in place of his father, the 88-year-old King Salman. His assertive behaviour, particularly at the start of his ascension to power around the beginning of

Saudi Crown Prince fears assassination amid talks to normalise Israel ties

Saudi Arabia has been in talks with US lawmakers since 2023 to officially recognise Israel's sovereignty and normalise ties

Saudi Arabia: MBS wants Hollywood's help to grow local film industry

Beyond attracting foreign producers, Saudi Arabia is hoping to plant the roots of its own industry, reflecting its values

Chinese investors pile into Saudi ETFs as two countries grow closer

The Saudi-focused ETFs enjoyed a bumper start when they debuted in Shanghai and Shenzhen on July 16 with both jumping by the daily 10 per cent limit on their first two trading days

Viral video: Hawai Chappal sold for 1 lakh in Saudi Arabia, netizens react

A video went viral on social media where a staff member of a footwear store could be seen selling Hawai sandals for Rs 1 lakh in Saudi Arabia. Watch the video here

Saudi ups imports of dirtiest oil to meet rising power demand amid heatwave

Shipments of fuel oil rose in June to the most since at least the end of 2020, and are expected to remain elevated this month, according to data from market researchers Kpler and Vortexa

Saudi Arabia raises $12.35 bn from Aramco share sale after increasing offer

Aramco's shares have risen 3.3 percent since the offering last month

Saudi Arabia to lure ultra-luxury travelers with Red Palace stays

The Red Palace was built in the 1940s for the then-crown prince. Now, the 9-acre, art-deco manse is being transformed into an ultra-luxury hotel designed to give guests a taste of the Saudi royal life

Bolsonaro embezzled $1.2 mn worth of jewellery from Saudi Arabia: Police

Brazil's Federal Police allege former president Jair Bolsonaro embezzled jewellery worth 6.8 million Brazilian reals (about USD 1.2 million) during his time in office, according to the investigative report unsealed on Monday by the Supreme Court. Bolsonaro was indicted last week charging embezzlement, asset laundering and criminal association in connection with the luxury jewellery from Saudi Arabia. The investigation adds pressure on the far-right leader who governed in 2019-2022 before losing his reelection bid to Luiz Incio Lula da Silva. He has already lost his political rights until 2030. Bolsonaro has not commented on the indictment, but has previously denied any wrongdoing involving the jewellery. The police report alleges there was "a criminal association for the embezzlement of high-value gifts that were received due to the position of former President Jair Bolsonaro". The jewellery included diamond-encrusted Rolex and Patek Phillipe watches, a necklace, rings and cufflinks

From Netflix fame to Saudi cell: Animator faces 13 yrs in prison for tweets

A Saudi court sentenced the Netflix animator to 13 years in prison and imposed a 30-year travel ban for tweets posted over a decade ago

Aramco signs over $25 bn of deals for main gas network, Jafurah gas field

Saudi Arabia is working on developing its unconventional gas reserves, which require advanced extraction methods such as those used in the shale gas industry

8.7 mn Indians employed in West Asia, mostly in blue-collar jobs: Report

UAE remains the largest hub, followed by Saudi Arabia and Kuwait

Saudi Arabia to become world's biggest construction mkt with large inflows

Aimed at overhauling and diversifying the economy, the kingdom is making large investments in infrastructure

Pilgrim deaths in Mecca bring underworld of Hajj industry into spotlight

While pilgrims with permits are transported around the holy city of Mecca in air-conditioned buses and rest in air-conditioned tents, unregistered ones are often exposed to the elements

Heatwave tragedy for Hajj pilgrims: Saudi Arabia reports 1,301 deaths

The Saudi government's statement highlighted that 83 per cent of the deceased were 'unauthorised pilgrims', facing extreme conditions without adequate shelter or amenities

More than 1,300 died during Hajj, many after walking in intense heat

More than 1,300 people died during this year's Hajj pilgrimage in Saudi Arabia as the faithful faced extreme high temperatures at Islamic holy sites in the desert kingdom, Saudi authorities announced Sunday. Saudi Health Minister Fahd bin Abdurrahman Al-Jalajel said that 83% of the 1,301 fatalities were unauthorized pilgrims who walked long distances in soaring temperatures to perform the Hajj rituals in and around the holy city of Mecca. Speaking with the state-owned Al Ekhbariya TV, the minister said 95 pilgrims were being treated in hospitals, some of whom were airlifted for treatment in the capital, Riyadh. He said the identification process was delayed because there were no identification documents with many of the dead pilgrims. He said the dead were buried in Mecca, without giving a breakdown. The fatalities included more than 660 Egyptians. All but 31 of them were unauthorized pilgrims, according to two officials in Cairo. Egypt has revoked the licenses of 16 travel agencie

Essar awaits final approvals to begin work on steel plant in Saudi

Essar Group is awaiting final approvals to start investing about USD 4.5 billion in building a low-carbon steel plant in Saudi Arabia, its top official Prashant Ruia said. The approvals are expected anytime now, after which the conglomerate will start working on the 4 million tonne per year steel plant along with port facilities at Ras Al-Khair in Saudi Arabia. "We still haven't got all the final approvals," Ruia, director of Essar Capital, which manages the group's portfolio of investments, said in an interview with PTI. The plant will meet domestic steel demand in Saudi Arabia. "Saudi Arabia is going through a large growth phase, a large part of steel today is getting imported into Saudi Arabia. So this is basically a domestic plant," he said. The oil-rich kingdom is eyeing becoming an electric vehicle manufacturing hub, manufacturing more than 3 lakh cars annually by 2030. Essar is looking to tap into the demand for steel for such cars as well as for other consumer goods ...

May oil imports: Russia at record high, Saudi lowest in 10-month

India shipped in about 5.1 million bpd oil in May, a growth of about 5.6% from April, the data shows