Saudi Arabia

15 August 2022; MEMO: Saudi Arabia's investment firm, Kingdom Holding Co, invested over $500 million into three major Russian energy companies as Russia launched its invasion of Ukraine, the firm's filings have shown.

According to Kingdom Holding Co's recently-released regulatory filings, the firm invested heavily in the three major Russian energy companies Gazprom, Rosneft, and Lukoil between February and March.

RIYADH, Aug 15 (NNN-SPA) – Saudi oil giant, Aramco, announced yesterday, its second quarter net profit increased by 90 percent, year-over-year, to 48.4 billion U.S. dollars, setting a new quarterly record for the company, since its initial public offering in 2019.

Thanks to increased oil prices, volumes sold, and refining margins, Aramco’s half-year net income also reached a new high of 87.9 billion U.S. dollars, up from 47.2 billion U.S. dollars a year earlier, according to financial figures released by the company.

RIYADH, Aug 14 (NNN-SPA) – Saudi Arabia announced yesterday that, it has allowed all types of visitors, including those holding tourist visas, to perform the Umrah (minor Hajj) in the kingdom, it was reported.

The decision, which is valid for the new Umrah season, that began on Jul 30, aims to enrich Umrah performers’ cultural and religious experience, said the Ministry of Hajj and Umrah.

Visitors eligible for on-arrival visas or e-visas and holders of U.S., British or Schengen visa are also included.

14 August 2022; MEMO: Saudi Arabian and US forces have launched a joint military exercise in the Red Sea province of Yanbu yesterday.

According to state news agency SPA, the month-long drill, codenamed "Native Fury 22" will include combined tactics, interoperability, and logistical operations between Saudi and US naval counterparts.

"The exercise aims at training on bilateral military and operational plans as well as exchanging expertise between the two sides," Saudi general Saud Al-Okaili was quoted as saying.

Saudi Arabia has applied to host the 2029 Asian Winter Games at its planned megacity NEOM, as the kingdom attempts to boost its presence in international sports.

On Wednesday, the Saudi Olympic and Paralympic Committee announced that it had submitted a letter of interest to the Olympic Council of Asia to host the tenth occurrence of the Asian Winter Games in 2029.

06 August 2022; MEMO: Saudi Arabia late Saturday condemned the ongoing Israeli airstrikes on the Gaza Strip, which left at least 29 Palestinians dead and dozens injured.

A statement by the Saudi Foreign Ministry said the kingdom stands by the Palestinian people, calling on the international community to "shoulder its responsibility to end the escalation, provide the necessary protection to civilians and exert all efforts to end this conflict."

05 August 2022; MEMO: Saudi Arabia's budget has witnessed a fiscal surplus of 135.4 billion riyals ($36.1 billion) during the first half of 2022 amid a rise in crude oil revenues.

04 August 2022; MEMO: Israel's national airline, El Al, has been given official approval from the Saudi Arabian authorities to operate flights in the kingdom's airspace, Israeli broadcaster Kan has confirmed.

"This approval will go into effect today, which is good news for Israeli tourists heading to Israel from countries in the Far East, as flying over Saudi reduces the length of flights," explained Kan. "The trip to and from Thailand will take about eight and a half hours, with Bombay at about five and a quarter hours."

01 August 2022; MEMO: Schools in Saudi Arabia operating under Turkiye's National Education Ministry will reopen soon, Anadolu News Agency reports.

In a statement, the Ministry said the schools will reopen as diplomatic contacts between Turkish and Saudi officials bear fruit.

Turkish Education Minister, Mahmut Ozer and his Saudi counterpart, Hamad bin Mohammed Al Al-Sheikh, discussed the issue on the sidelines of "The Transforming Education Pre‐Summit" held in Paris on 28-30 June, the statement added.

Aug 1 (Reuters) - Valvoline Inc (VVV.N) is selling its unit that makes lubricants, coolants and other automotive products to state-owned Saudi Aramco (2222.SE) for $2.65 billion in cash to sharpen focus on its retail services business.

The deal announced on Monday builds on the company's plan to separate the two units, with the sale proceeds set to fuel an expansion of the vehicle service center business Valvoline operates across the United States.