Saudi Arabia Assumes Chairmanship of INTOSAI

The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh. (SPA)
The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh. (SPA)
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Saudi Arabia Assumes Chairmanship of INTOSAI

The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh. (SPA)
The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh. (SPA)

Saudi Arabia solidified on Friday its global leadership in public financial auditing and accounting by winning the chairmanship of the International Organization of Supreme Audit Institutions (INTOSAI). The announcement was made during the 25th General Assembly of INTOSAI, held in Sharm El-Sheikh under the patronage of Egypt’s President Abdel Fattah al-Sisi.

‏The General Assembly declared Saudi Arabia, represented by the General Court of Audit (GCA), as the Chair of INTOSAI starting in 2031 for a three-year term. Saudi Arabia will host delegations from over 195 countries, led by the heads of supreme audit institutions (SAIs), assuming leadership of the world’s foremost organization in financial and performance auditing. This role positions Saudi Arabia to steer global efforts in enhancing transparency, public sector governance, and government performance, while reinforcing public trust in national economies.

‏On this occasion, GCA President Dr. Hussam Alangari extended his congratulations to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, acknowledging their unwavering support and empowerment of GCA.

This achievement reflects the Kingdom’s international standing and global trust, enabling it to play a pivotal role in advancing auditing and accountability worldwide, he stressed.

Alangari highlighted the transformative developments in organizational independence, technical and human capacity, and methodological innovation that have enabled GCA to achieve its vision of impactful audit, public sector effectiveness, and quality of life for citizens.

“Saudi Arabia welcomes the world in 2031, and we look forward to hosting everyone in Riyadh to shape a global future that promotes transparency, governance, and governmental effectiveness,” he added.

‏This milestone crowns decades of international engagement led by Saudi Arabia through GCA, starting with its early membership in INTOSAI in 1977. Saudi Arabia has consistently taken leadership roles in international and regional organizations, including serving as Chair of the Arab Organization of Supreme Audit Institutions (ARABOSAI) for two consecutive terms since 2022, and the upcoming Chair of the Asian Organization of Supreme Audit Institutions (ASOSAI) starting in 2027.

GCA has also led numerous INTOSAI committees and initiatives focused on capacity building and enhancing the efficiency of peer SAIs in developing countries, reflecting Saudi Arabia’s commitment to advancing auditing and accountability globally.

‏Founded over 70 years ago, INTOSAI is the largest and most prestigious international organization uniting SAIs worldwide. Today, it comprises over 195 member countries, each represented by its supreme audit institution, working to enhance transparency, governance, and public sector auditing, with the ultimate goal of improving citizens’ lives around the world.



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
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Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
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Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
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Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.