Business

19 August 2023; MEMO: Saudi Crown Prince Mohammed Bin Salman discussed with Iranian Foreign Minister Hossein Amir Abdollahian ways to strengthen relations between the two countries during a meeting on Friday in Jeddah.

17 August 2023; MEMO: Iranian and Saudi Arabian military officials have met at the sidelines of the 11th Moscow Conference on International Security, the first time since the two countries resumed diplomatic relations as part of a Chinese-brokered deal in March, ending six years of severed ties.

17 August 2023; MEMO: The United States (US) granted authorisation for the sale of Israel’s Arrow 3 missile defence system to Germany, in a deal worth $3.5 billion, reported Reuters.

The ministry said in a statement today that senior officials from the Israeli and German defence ministries would sign a letter of commitment to the deal with a preliminary payment of $600 million.

17 August 2023; MEMO: Turkiye is the fastest-growing holiday destination over the last five years, with flying programmes increasing by 200 per cent since 2018, the Independent reports.

According to the report, this growth has been driven by demand, resulting in an upsurge in flying frequency, longer seasons and the launch of holidays to a new Turkish destination, Izmir, in 2019 reported by the tour operator, Jet2holidays.

18 August 2023; MEMO: Russian President, Vladimir Putin, and his Iranian counterpart, Ebrahim Raisi, discussed Iran’s possible future membership of the BRICS grouping during a phone call on Thursday, Russian state news agency, TASS reported, citing the Kremlin, Reuters reports.

18 August 2023; MEMO: Saudi Arabia and China have signed a number of housing and infrastructure agreements amounting to over $1.33 billion, furthering ties and investment between the two countries.

At the Saudi-China Business Forum in Beijing, which commenced today, Saudi Arabia’s Minister for Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, invited Chinese firms to invest in the Kingdom’s real estate sector. 

18 August 2023; MEMO: British Prime Minister Rishi Sunak has expressed his will to meet Saudi Arabia’s Crown Prince Mohammed Bin Salman “at the earliest opportunity”, confirming earlier reports of such an invitation being planned.

15 August 2023; MEMO: The Saudi football club Al Hilal has reached an agreement with French-Brazilian star Neymar, Saudi state media reported yesterday.

According to the Spanish newspaper Sport, the Paris St-Germain (PSG) player will undergo a medical examination in Paris, in preparation for signing his contract with the Saudi club.

The Spanish newspaper added that Al Hilal will present the Neymar deal next Wednesday at a remarkable event in Riyadh.

16 August 2023; MEMO: The owners of Manchester United are reportedly set to announce a 7.2-7.3 billion pound ($9.15 billion) sale of the club to Qatari Royal, Sheikh Jassim bin Hamad Al Thani, after a nine-month protracted sale process, the BBC reports.

14 August 2023; MEMO: Iran and the de-facto government of Yemen, the Houthi-led National Salvation Government (NSG), held their first joint economic cooperation commission on Saturday.