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Kuwait Nominates Former Governor as New OPEC Chief

Reuters file photo of Haitham al-Ghais
Reuters file photo of Haitham al-Ghais
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Kuwait Nominates Former Governor as New OPEC Chief

Reuters file photo of Haitham al-Ghais
Reuters file photo of Haitham al-Ghais

Kuwait has nominated its former governor to the Organization of the Petroleum Exporting Countries (OPEC), Haitham al-Ghais, to lead the oil producer group after Mohammad Barkindo's term as secretary general, two sources close to the matter said.

Nigerian Barkindo, whose is due to step down at the end of July next year, took OPEC's top job in mid-2016 and was granted a second three-year term in 2019.

Al-Ghais is the only candidate to be nominated so far, the sources told Reuters.

Al-Ghais stepped down as Kuwait's OPEC governor in June this year and was appointed deputy managing director of international marketing at state-owned Kuwait Petroleum Corporation (KPC).

He was previously in charge of KPC's regional offices in Beijing and London before becoming governor to OPEC in 2017.

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Non-Profit Sector Revenue in Saudi Arabia Reaches $14.5 Billion in 2023

The total revenue of non-profit sector organizations in Saudi Arabia marked a 33% increase. SPA
The total revenue of non-profit sector organizations in Saudi Arabia marked a 33% increase. SPA
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Non-Profit Sector Revenue in Saudi Arabia Reaches $14.5 Billion in 2023

The total revenue of non-profit sector organizations in Saudi Arabia marked a 33% increase. SPA
The total revenue of non-profit sector organizations in Saudi Arabia marked a 33% increase. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) has said that the total revenue of non-profit sector organizations in the Kingdom amounted to SAR54.4 billion ($14.5 Billion) in 2023, marking a 33% increase compared to 2022.

The results, shown in the Non-Profit Sector Bulletin for 2023, indicated that health-related activities recorded the highest growth rate compared to the previous year, contributing 70% of the total revenue of the non-profit sector organizations, followed by education and research activities with a 53% increase, and volunteer brokerage and promotion activities with a 36% rise. These activities were the main contributors to the total revenue of non-profit organizations.

The bulletin also revealed that total expenditures of the non-profit sector reached SAR47 billion in 2023. Health-related activities represented the highest expenditure category, showing a 74% increase, followed by education and research activities with a 55% rise, and environmental activities with a 34% increase compared to 2022. These activities were the leading contributors to the total expenditures of non-profit organizations.

The figures also underscored the relative contribution of employed individuals to key activities within the non-profit sector in 2023. Cultural and entertainment activities led with a 27.6%, followed by social services activities at 27.2%, development and housing activities at 12.4%, health activities at 11.5%, and education and research activities at 7.5%. The remaining non-profit sector activities accounted for the remaining 13.8%.