Livestock Sales Double During Eid al-Adha in Saudi Arabia

Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
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Livestock Sales Double During Eid al-Adha in Saudi Arabia

Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)

Sales at Saudi livestock markets doubled during Eid al-Adha, as prices rose 20 percent due to the increase in animal feed and import costs, workers told Asharq Al-Awsat.

Saudi Arabia consumes about 3.5 million sheep annually.

Abdul Rahman al-Farij, owner of al-Najd Livestock for Agriculture Development, told Asharq Al-Awsat that livestock prices saw a 15 to 20 percent increase this year, noting that prices vary according to demand.

Livestock dealer Ibrahim al-Aliwa said that sacrifice rituals are increasing every year, adding that demand increases on certain types of sheep, like Noaimi and Najdi, with an average price of $53 per animal.

For his part, Mutaib al-Subaie reported that Sudan and Jordan are Saudi Arabia’s top livestock importers, noting that the demand is remarkable for al-Noaimi, of an average price of $386.

Asharq Al-Awsat toured several markets, and top sellers and marketers in Riyadh implemented strict precautionary and preventive measures against the COVID-19 disease.

Saudi markets witnessed imports of various sheep, notably from Romania, Spain, and Georgia, with prices varying between $240 and $320.

Small size sacrifices were the least in demand, with average prices ranging between $140 and $160.

This year, local Saudi markets witnessed the sale of other types of livestock, which are permissible according to the Sharia, with an average price for imported calves reaching $933.

Muflih al-Tabki, the auctioneer in the livestock market in Madina, reported high demand for camel purchases for the sacrifice ritual.

Livestock investor Salim al-Zughaibi told the Saudi Press Agency (SPA) that the increase in livestock prices is estimated at 20 percent.



Cluster2 Company Launches Direct Flights from Muscat to Saudi Arabia's Taif

 Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
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Cluster2 Company Launches Direct Flights from Muscat to Saudi Arabia's Taif

 Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA
Three direct flights will take place per week between Muscat and Taif via Oman Air - SPA

The Cluster2 Company, operator of Taif International Airport, announced the launch of three direct flights per week between Muscat and Taif via Oman Air, starting January 31, SPA reported.

The launch of international flights through the cluster’s airports comes as part of its ongoing commitment to improving the passenger experience and expanding international travel options, while continuing to build strategic partnerships with global airlines to enhance air connectivity in the Kingdom.


Oil Prices Rise as US Ramps up Action against Venezuela Tankers

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
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Oil Prices Rise as US Ramps up Action against Venezuela Tankers

A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer
A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer

Oil prices rose on Monday after the US intercepted ​an oil tanker in international waters off the coast of Venezuela and tensions in Russia's war against Ukraine remained high, with both developments raising fears of supply disruption.

Brent crude futures gained $1.31, or 2.17%, to $61.78 a barrel by 1316 GMT. US West Texas Intermediate crude rose by $1.25, or 2.2%, to $57.77.

Market participants now see a risk of disruption to Venezuelan oil exports because of the US ‌embargo, having previously ‌been complacent in that regard, said ‌UBS ⁠analyst Giovanni ​Staunovo.

Venezuelan crude ‌accounts for about 1% of global supply.

Growing supply from the US and the OPEC+ producer group have largely offset worries over supply disruption elsewhere to keep Brent futures around $65 a barrel in the second half of 2025, though prices have eased in the past month because of oversupply concerns.

Oil prices have been supported by developments off Venezuela while ⁠Russia-Ukraine tensions simmer in the background in an otherwise very bearish market, said June ‌Goh, analyst at Sparta Commodities.

The US Coast ‍Guard is pursuing an oil ‍tanker in international waters near Venezuela in what would be the ‍second such operation over the weekend and the third in less than two weeks if successful, officials told Reuters on Sunday.

A rebound in oil prices has been sparked by US President Donald Trump's announcement of a "total ​and complete" blockade of sanctioned Venezuelan oil tankers and subsequent developments there, followed by reports of a Ukrainian drone strike ⁠on a Russian shadow fleet vessel in the Mediterranean, said IG analyst Tony Sycamore.

The Brent and WTI benchmarks fell by about 1% last week.

US special envoy Steve Witkoff said on Sunday that talks between US, European and Ukrainian officials in Florida over the past three days in an effort to end Russia's war in Ukraine had focused on aligning positions. Those meetings and separate talks with Russian negotiators had been productive, he said.

However, the top foreign policy aide of Russian President Vladimir Putin said that changes made by the Europeans ‌and Ukraine to US proposals had not improved prospects for peace.


GASTAT: Construction Costs in Saudi Arabia Rose 1% in November

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
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GASTAT: Construction Costs in Saudi Arabia Rose 1% in November

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA
The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025. SPA

The Construction Cost Index in Saudi Arabia rose 1% in November 2025 compared with the same month last year, driven by equal 1% increases in both residential and non-residential construction costs, according to data released by the Kingdom’s General Authority for Statistics (GASTAT).

The monthly Construction Cost Index survey results showed price stability in November 2025 compared with October 2025.

The Construction Cost Index bulletin is part of GASTAT’s ongoing efforts to develop statistical products for vital sectors and provide a reliable and effective reference with accurate estimates to support decision-making by contractors, real estate developers, and relevant entities.

These efforts contribute to drawing a clear roadmap for residential and non-residential construction projects in the building and construction sector.