Travel, Tourism Summit Kicks off in Riyadh with Remarkable Participation of Women Leaders

Saudi Arabia has been leading efforts to recover the global travel and tourism sector since launching its project to promote local tourism. (Asharq Al-Awsat)
Saudi Arabia has been leading efforts to recover the global travel and tourism sector since launching its project to promote local tourism. (Asharq Al-Awsat)
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Travel, Tourism Summit Kicks off in Riyadh with Remarkable Participation of Women Leaders

Saudi Arabia has been leading efforts to recover the global travel and tourism sector since launching its project to promote local tourism. (Asharq Al-Awsat)
Saudi Arabia has been leading efforts to recover the global travel and tourism sector since launching its project to promote local tourism. (Asharq Al-Awsat)

The World Travel & Tourism Council (WTTC) announced details of the many inspirational women in philanthropy, business and government who will take the stage for its upcoming Global Summit in Saudi Arabia from November 28 to December 1.

Today, the tourism industry employs 54% of women in the sector and one in five of Tourism Ministers worldwide are women. This reflects the pivotal role played by women in the sector.

Women dominate tourism employment worldwide and the presence of such inspirational leaders in Riyadh will stimulate debate on the need for them to play a greater role in decision making and leadership in the travel and tourism sector.

Princess Haifa Al Saud, Saudi Vice Minister of Tourism, said: “Tourism is one of the few global industries where women are the majority of the workforce. And our young women and men are not just tomorrow’s travelers, they are the chefs, entrepreneurs, inventors and leaders of tomorrow.”

“I have no doubt that this prestigious group of women speakers will help in inspiring our youth here in the Kingdom and around the world as a key to the future of tourism,” she added.

“I believe there is no other industry like tourism that has the same power to offer opportunity to young people and Saudi Arabia is investing heavily in training to ensure those opportunities become reality,” stressed Princess Haifa.

Among the many women leaders present at the Summit are Former British Prime Minister Theresa May, Patricia Espinosa, former executive secretary of the United Nations Framework Convention on Climate Change, Desiree Bollier Chairwoman and Chief Merchant, Value Retail, and European Union Parliament member Elena Kountoura, Founder and Chief Executive Office of Healing Hotels, Anne Biging, and Global CEO of JLL Hotels and Hospitality, Gilda Perez Alvarado.

The Summit will witness the presence of heads of government and 50 ministers in various sectors from all over the world.



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.