Saudi Arabia - The African Mirror

Mar

2024

Egyptian Natural Gas Holding to expand in Saudi Arabia

THE Egyptian Natural Gas Holding Co. (EGAS) has established a subsidiary in Saudi Arabia with initial capital of SAR 2 million ($530,000), Egypt's Ministry of Petroleum said. Owned 80% by EGAS, the newly established natural gas company "Modern Gas" Saudi Arabia is part of the Egyptian firm's strategy for offshore expansion, especially in Gulf Cooperation Council (GCC) countries, aimed at attracting foreign currency inflows into Egypt. Egypt is striving to attract foreign currency inflows to address a shortage that has curbed local business activity and led to backlogs at ports and delays in payments for commodities. Since early 2022, when…

Jan

2024

By MPHO RANTAO

FE heats up for double Diriyah leg under the lights

MOTORSPORT, MOTORING NEWS

ROUNDS two and three of Formula E (FE) season ten continue in Saudi Arabia on a circuit nestled between UNESCO-protected ancient sites. DS Penske driver Jean-Eric Vergne grabbed pole for the first leg of the Diriyah E-Prix doubleheader, beating out Jaguar TCS Racing’s Mitch Evans by just 0.072 seconds at the finish line. Vergne grabbed his 16th career pole in Formula E and the team’s first pole since São Paulo in 2023, when JEV's teammate Stoffel Vandoorne took P1, and Vergne’s first since Jakarta in 2022. Defending World Champion Jake Dennis will start race one from third after losing out…

Jan

2024

By AZIZ EL YAAKOUBI

Exclusive: Saudi Arabia prepares to open first alcohol store for diplomats

WORLD

SAUDI Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats, according to a source familiar with the plans and a document. Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases, said the document, which was seen by Reuters. The move is a milestone in the kingdom's efforts, led by Saudi Crown Prince Mohammed bin Salman, to open the ultra-conservative Muslim country for tourism and business as drinking alcohol is forbidden in Islam. It is also…

Nov

2023

By The African Mirror

Nigeria gets refineries investment, forex pledge from Saudi Arabia

BUSINESS

NIGERIA and Saudi Arabia agreed to a series of investment and cooperation deals, including a pledge by the Saudi government to invest in the revamp of Nigeria's oil refineries and provide financial support to sustain the government's foreign-exchange reforms. The agreements were reached at a bilateral meeting between Nigerian President Bola Tinubu and Saudi Crown Prince Mohammed bin Salman on the sidelines of the Saudi-Africa summit in Riyadh. Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and unifying the country's multiple exchange rates as part of measures "aimed at improving the ease…

Nov

2023

By The African Mirror

Saudi Arabia to sign deals worth over $500 mln with African nations -minister

NEWS

THE Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said during the Saudi-Arab-African Economic Conference in Riyadh. "We are working with partners to support Ghana and other countries regarding their debt," Jadaan added. Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom's more than $700 billion wealth fund, the Public Investment Fund, will make some "game-changing" investments in Africa. Saudi Energy Minister Prince Abdulaziz bin Salman, also at the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad and Ethiopia on…

Nov

2023

By The African Mirror

Saudi Arabia sole bidder to host 2034 World Cup, FIFA says

FOOTBALL

SAUDI Arabia was the only football association to present a bid to host the 2034 FIFA World Cup before the deadline closed, soccer's global governing body said on Tuesday. FIFA had invited bids from Asia and Oceania for the tournament by October 31, and Saudi Arabia announced it would bid only minutes after the announcement on October 4. Australia said on Tuesday it would not be presenting a bid to host the tournament, leaving Saudi Arabia as the only candidate. "As established in the Bidding Regulations approved by the FIFA Council, the FIFA administration will conduct thorough bidding and evaluation…

Nov

2023

By The African Mirror

Saudi Arabia clear to host 2034 World Cup after Australia drops out

FOOTBALL

SAUDI Arabia was left as a shoo-in to host the 2034 World Cup after Australia confirmed it would not make a bid for soccer's global showpiece on Tuesday's deadline day. World soccer's governing body FIFA had invited bids from Asia and Oceania for the tournament by October 31. Football Australia (FA) boss James Johnson had said the country was "exploring the possibility" of 2034, but on Tuesday the domestic governing body said it would instead focus on bids for the 2026 Women's Asian Cup and the 2029 Club World Cup. Australia's decision not to proceed with 2034 leaves Saudi Arabia…

Oct

2023

By The African Mirror

Fury knocked down but beats Ngannou on a split decision

SPORT

WBC heavyweight world champion Tyson Fury beat former UFC fighter Francis Ngannou on a split decision in a non-title fight in Saudi Arabia that almost delivered one of boxing's biggest upsets. Fury, the unbeaten holder of one of the sport's most prestigious belts, narrowly avoided a first defeat at the hands of a 37-year-old opponent who had never boxed professionally before but went through the full 10 rounds with some swagger. Ngannou dropped the Briton to the canvas in round three with a left hook and although the 35-year-old self-styled "Gypsy King" was able to see out the round he…

Oct

2023

By The African Mirror

US State Department says Sudan ceasefire talks reconvene

NEWS

THE United States, Saudi Arabia and the Intergovernmental Authority on Development, together with the African Union, have relaunched humanitarian and ceasefire talks between the Sudanese Armed Forces and the Rapid Support Forces, the U.S. State Department said. "There is no acceptable military solution to this conflict. We call upon the SAF and RSF to approach the talks constructively, with the imperative to save lives, reduce the fighting, and create a path to a negotiated exit from the conflict," State Department spokesperson Matthew Miller said.

Oct

2023

By The African Mirror

Saudi Arabia launches Esports World Cup

SPORT

SAUDI Arabia said that it was launching an annual Esports World Cup, which will include the most popular games in the world and have the largest prize pool in esports history. The competition will be held annually in Riyadh starting summer of 2024, a statement from Saudi Crown Prince Mohammed bin Salman said. Clubs will compete across games from various genres to become the ultimate Esports World Cup champion, the statement said. Sports, esports and gaming have been part of the crown prince's transformation plan, known as Vision 2030, in which the government is pouring hundreds of billions of dollars…