Cuba’s annual Festival del Habano, a major celebration of the country’s world-famous cigars, has been postponed indefinitely due to worsening fuel shortages and power outages across the island. Organizers said the decision was made to protect the quality and international reputation of the festival, which typically attracts more than 1,300 participants from around 70 countries….
RIYADH: Saudi Arabia’s banking sector outlook remains stable, supported by stronger non-oil economic growth and solid capital buffers, Moody’s Ratings said, forecasting continued expansion despite liquidity constraints. The credit rating agency noted that the Kingdom’s non-oil GDP is projected to grow by 4.2 percent this year, up from 3.7 percent in 2025, reinforcing banks’ lending…
Riyadh, Saudi Arabia: Poland expects its trade with Saudi Arabia to reach $10 billion, Andrzej Domanski, Poland’s Minister of Finance and Economy, announced during his visit to Riyadh on Monday. Domanski highlighted the Kingdom as a reliable partner as Polish companies seek diversification and new markets. Speaking on expanding bilateral trade, Domanski said the partnership…
King Abdulaziz International Airport records show a strong start to 2026, with 5.45 million passengers passing through in January, marking a 7.3 percent increase compared to the same month last year. Flight movements reached 29,200, up 11 percent, while total baggage throughput rose 8 percent to 6.6 million items. The airport experienced its busiest operational…
The Saudi retail transformation is accelerating as artificial intelligence and digital innovation reshape how businesses serve customers, industry leaders said during the RLC Global Forum in Riyadh. Speaking at the two-day event, retail executives emphasized that technology is now central to improving customer experience, streamlining operations, and meeting the expectations of younger, digitally connected shoppers….
Riyadh – Saudi Economy Grows 4.5% in 2025 as Oil and Non-Oil Sectors Accelerate, driven by robust expansion in hydrocarbon and non-energy sectors, official data showed. According to flash estimates from the General Authority for Statistics (GASTAT), oil activities grew by 5.6 percent year-on-year, while non-oil operations expanded by 4.9 percent. Government activities contributed 0.9…
Muscat – The Muscat Stock Exchange Records Strong Weekly Gains as local investment funds and institutions increased trading activity last week. The surge reflects optimism following financial results and dividend announcements by public shareholding companies. Several companies proposed dividends that supported market confidence. Oman Cables Industry recommended a cash dividend of 95.5 baisa per share,…
Muscat – The Sultanate of Oman is advancing trade facilitation and logistics efficiency through the National Logistics Strategy 2040, focusing on streamlined customs procedures, digital trade, and strategic port development. Oman’s key seaports — Sohar, Duqm, and Salalah — play a central role in linking the country to regional and global markets. Ongoing infrastructure upgrades…
Parcel delivery giant UPS has announced sweeping job reductions as part of a major strategic shift away from its largest customer, Amazon. The company said UPS job cuts Amazon deliveries will reach up to 30,000 positions this year as it continues to reduce volumes linked to the online retail giant. The job losses will be…
More than 45 agreements signed on the opening day of the Global Labor Market Conference in Riyadh are expected to generate thousands of training and employment opportunities across Saudi Arabia, officials said. The agreements were concluded between a wide range of public and private sector organizations, with a focus on modern work models, skills development,…
