Saudi Arabia

Hamad Medjedovic of Serbia plays a backhand to Arthur Fils of France in the final during day five of the Next Gen ATP Finals at King Abdullah Sports City on December 02, 2023 in Jeddah, Saudi Arabia. Adam Pretty | Getty ImagesSaudi Arabia's Public Investment Fund will become the official naming partner of the ATP Rankings and will partner with ATP Tour tennis events, including Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals under a multi-year partnership announced Wednesday."Our strategic partnership with…

Amazon will pay out $1.9 million to more than 700 migrant workers to settle claims of human rights abuses following exploitative labor contracts,  The impacted laborers were working at two of the company’s warehouses in Saudi Arabia.Amazon saying it hired a third-party labor rights expert to investigate warehouse conditions. The organization found numerous violations of Amazon’s supply chain standards, including “substandard living accommodations, contract and wage irregularities and delays in the resolution of worker…

Zipping around the city by personal jet pack is still just a dream, but a drone humming along to drop off groceries, prescriptions or a late-night pizza at your door could become a reality in the Denver area as soon as late spring. Drone Express, which moved its headquarters to Denver in November, is one of a handful of companies to earn a spot in the Federal Aviation Administration program focused on incorporating drones into the national airspace and authorizing their use for commercial services. Within the next few…

Nigeria’s crude oil production dropped in January, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation averaged 26.34 mb/d in January 2024, lower by 350,000 barrels per day (tb/d), month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday. The report also noted that crude oil output increased mainly in the UAE, Saudi Arabia and Venezuela, while production in Libya, Kuwait, Iraq and Algeria decreased. Nigeria’s crude…

Some stories won’t let you go. My year begins with one such.Daring to Drive is a young Saudi woman’s journey. It begins in the congested streets of Mecca, where Manal al-Sharif grows up as a poor kid, the daughter of a Saudi father and an Egyptian mother.Hers is an unforgettable story, full of twists and turns. We see Manal being indoctrinated as a teenager, turning fervently fanatic, yet studying computer science, making an independent life for herself, and finally fighting for the right to drive. For this, she is jailed…

Tamara, a buy now pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing C round that values the fintech at $1 billion. Saudi asset manager and financial institution SNB Capital and Sanabil Investments, a wholly-owned company by Saudi’s sovereign wealth fund Public Investment Fund (PIF), led the Series C round. Other backers include Shorooq Partners, Pinnacle Capital, Impulse and others, joining existing investors such as Checkout.com. The round, composed of…

Tiger Woods wipes his driver grip on the 18th tee box during the first round of the PGA TOUR Champions PNC Championship at The Ritz-Carlton Golf Club on December 17, 2022 in Orlando, Florida.Ben Jared | PGA Tour | Getty ImagesA coalition of U.S. sports investors led by Fenway Sports Group have entered the final round of negotiations to become co-investors in a potential deal between the PGA Tour and Saudi Arabia's Public Investment Fund, the PGA Tour announced on Sunday.The Fenway-led consortium, named Strategic Sports…

Al Gore criticized the United Arab Emirates for hosting a United Nations climate conference and appointing an oil executive to serve as the summit’s president, saying the move was “ridiculous” and “a direct conflict of interests.” The former vice president made the comments on CNN’s State of the Union after visiting the COP28 Climate Change Conference and in reaction to remarks made by conference president Sultan al-Jaber, CEO of UAE state oil company ADNOC. al-Jaber said at an event last month that there is “no…

The Nigerian government on Thursday said it has signed a Memorandum of Understanding (MoU) with the government of the Kingdom of Saudi Arabia for collaboration in the oil and gas sector. Nneamaka Okafor, the special adviser on media and communication to the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri in a statement on Thursday said the MoU is a testament to a shared commitment to fostering cooperation, with the aims of establishing a robust framework for collaboration between the two…

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced.Javier Blas | Bloomberg | Getty ImagesWhen BlackRock, the world's largest asset manager, announced this week it was adding the head of the world's largest oil company, Saudi Aramco, to its board of directors, some investors might have been caught off guard given BlackRock's leading role in the market when it comes to investing in a low-carbon future. But CEO Larry Fink, who has been under intense pressure…