Saudi Consumer Spending Jumps 23% in a Week as Back-to-School Costs Surge
Saudi consumer spending rose 23.4% week on week to SR16.51 billion in the week ending Oct. 3, according to Saudi Central Bank point-of-sale data. Education outlays more than doubled, which an economist says is a seasonal back-to-school effect. Hotels were the only major category to decline.
Ronaldo Scores 980th Career Goal as Al-Nassr Beat Diriyah to Reach the Top of the Saudi Pro League
Cristiano Ronaldo scored his 980th career goal as Al-Nassr beat Diriyah 3-0 on the day the Saudi Pro League resumed. The win lifted them level on 19 points with Al-Qadsiah, who thrashed Al-Kholood 5-0. Al-Ahli also won 4-0 away at Al-Fateh.
Visa-Free Schengen Travel for Saudis Draws Closer Ahead of EU-GCC Summit in Riyadh
The GCC's secretary-general says a decision to begin waiving Schengen visas for Saudi, Qatari, Omani, Bahraini and Kuwaiti citizens is "very close" and could be announced at the EU-GCC summit in Riyadh on Oct. 24. A free trade agreement is not expected to be settled at the same meeting. The UAE is currently the only Gulf state with visa-free short stays in the Schengen Area.
Saudia Pilot Killed in Riyadh Airport Attack as Kingdom Condemns Houthi Escalation
Two attacks on King Khalid International Airport in Riyadh on Thursday killed three Saudi nationals, including Saudia pilot Capt. Hamoud bin Ali Alkalthami. Saudi Arabia has called the strikes a blatant act of aggression, and condemnation has followed from abroad. Calls are growing, including from a UK peer, for the Houthis to be designated a terrorist group.
Saudi-Led Coalition Strikes Houthi Missile Network as Yemeni Forces Advance on Bab Al-Mandab
Saudi consumer spending rose 23.4% week on week to SR16.51 billion in the week ending Oct. 3, according to Saudi Central Bank point-of-sale data. Education outlays more than doubled, which an economist says is a seasonal back-to-school effect. Hotels were the only major category to decline.
Capital Group Wins ADGM Licence as Global Investors Keep Flocking to Abu Dhabi
US investment giant Capital Group, which manages $3.6 trillion in assets, has secured a licence from Abu Dhabi Global Market to operate as a regulated investment manager. It joins a growing list of global asset managers setting up in the emirate despite the regional conflict.
IMF Says Iran War Energy Shock Is "Large but Contained" as Gulf Economies Brace for a Contraction
The IMF's managing director says the energy price shock from the US-Iran war has been large but contained so far, though high prices are likely to linger. The World Bank expects GCC economies to contract by an average of 4.3 per cent this year.
UAE Airports Stay Open on Day 220 of US-Iran Conflict, but Flight Cuts and Higher Fuel Costs Linger
Daily life in the UAE continues as normal on day 220 of the US-Iran conflict, with airports open and no security alerts. Residents are still feeling the effects through longer flights, extended airline suspensions and a third straight monthly rise in fuel prices.
Saudi Arabia Beat UAE 2-0 to Win Arabian Gulf Cup Final in Jeddah
Two quick goals early in the match were enough for hosts Saudi Arabia to defeat the UAE 2-0 and lift the Arabian Gulf Cup for the first time in 22 years. President Sheikh Mohamed congratulated Saudi Arabia and praised the sportsmanship shown by both teams.
UAE Sets Limits on Salt, Sugar and Fat in Packaged Foods, With Fines of Up to Dh500,000
The UAE has approved phased caps on salt, sugar and fat in packaged foods, covering both local and imported products. Companies that miss the targets face fines of up to Dh500,000, and every product must meet the final limits by the end of 2030.
Dubai Retail Unveils Skylight Mall: A 1.3 Million Sq Ft Shopping Destination Planned for Al Khail Road
Dubai Retail has announced Skylight Mall, a super-regional shopping and entertainment destination set to open in 2027 on Al Khail Road. The 1.3 million sq ft development will have more than 360 stores and will serve communities including JVT, Jumeirah Islands and The Springs.
Gulf Oil Exports Rebound as Brent Slips Below $100, but UAE Motorists and Markets Still Feel the Strain
Brent crude fell under $100 a barrel on Tuesday as data showed Middle East exports recovering toward pre-war levels, helped by pipelines that bypass the Strait of Hormuz. Producers and analysts caution that stockpiles are thin and new attacks in Yemen and Saudi Arabia could reverse the improvement. In the UAE, petrol prices remain well above September levels.