Saudi Arabia

Dec 25 (Reuters) - Saudi Arabian stocks climbed on Sunday in response to Friday's rise in oil prices, while most other bourses in the Gulf were in the red on global economic concerns.

Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 imposing a price cap on Russian exports.

Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.

22 Dec 2022; MEMO: The Saudi Arabian Ministry of Industry and Mineral Resources has announced that the Kingdom's mineral wealth is now valued in excess of $1.3 trillion, including deposits of copper, zinc, phosphates, uranium and gold, the Saudi Press Agency has reported. The announcement was made in an online meeting organised by the ministry's Assistant Undersecretary for Investment Development, Turki Al-Babtain, with a group of British investors on Tuesday.

23 Dec 2022; MEMO: Egypt is stalling the implementation of an agreement to hand over two strategic Red Sea islands to Saudi Arabia, only a week before its intended date amid ongoing disagreements with the United States.

21 Dec 2022; MEMO: Saudi authorities have returned the endangered oryx to the desert in the kingdom's north-western NEOM region, after a century of their absence.

According to Saudi media outlets, oryx and the species of ibex, sand gazelles, and mountain gazelles were sent to the region by the Riyadh-based National Centre for Wildlife (NCW) in late October. After spending time in specially-designed pens to help them adapt to their new environment, the oryx were released into the region's much larger reserve.

18 Dec 2022; MEMO: Saudi Arabia has called for a swift investigation into the killing of an Irish peacekeeper in southern Lebanon, reports Anadolu Agency.

A soldier with the UN peace mission UNIFIL was killed and three others injured when their vehicle came under fire in southern Lebanon on Wednesday.

Lebanese media said a problem occurred between local residents and a UNIFIL patrol over the convoy's route, where gunshots were heard.

16 Dec 2022; MEMO: Saudi authorities have arrested 421 persons who are accused of trying to smuggle large quantities of drugs in four regions of the kingdom.

15 Dec 2022; MEMO: The UK and Saudi Arabia are to deepen military ties following the signing of a new defence co-operation plan earlier this week. Riyadh's Defence Minister Prince Khalid Bin Salman, who is the younger brother of the Saudi Crown Prince Mohammed Bin Salam met with UK Secretary of State for Defence, Ben Wallace, in London to agree details of the plan.

15 Dec 2022; MEMO: Saudi's Water and Electricity Holding Company (Badeel) and energy company ACWA Power have signed power purchase agreements to develop the largest solar energy plant in the Middle East, Reuters reports.

The 2,060 megawatt solar facility will be built in Al-Shuaibah, in the Makkah province, and is expected to become operational by the fourth quarter of 2025.

12 Dec 2022; MEMO: Gulf Cooperation Council (GCC) member states are predicted to make a total of $15 billion annually by the year 2030 as they introduce policies to implement new "metaverse" technology within their respective economies.

RIYADH, Dec 12 (NNN-SPA) – The Saudi Arabian government and Chinese tech giant, Huawei, signed an ICT cooperation deal, aiming to fast-forward the kingdom’s digital transformation, the company announced yesterday.

The memorandum of understanding (MoU) was recently reached with the Ministry of Communications and Information Technology, in the Saudi capital of Riyadh, said a Huawei statement.