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Saudi Tourism Authority Participates in Qatar Int'l Exhibition for Tourism and Travel

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
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Saudi Tourism Authority Participates in Qatar Int'l Exhibition for Tourism and Travel

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)
The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22. (SPA)

The Saudi Tourism Authority (STA) is participating in the Qatar International Exhibition for Tourism and Travel held in the Qatari capital, Doha, from November 20 to 22, SPA said on Tuesday.
The step is an extension of STA’s regional and international participations aimed at enhancing the Kingdom's position on the global tourism map, highlighting tourist destinations, experiences, and products, along with showcasing investment opportunities and fostering connections with partners both within and outside the Kingdom.
The Saudi pavilion is set up on an area of 250 square meters, featuring platforms for product developers and service providers in the Kingdom's tourism sector.
It includes a dedicated space for service providers to guests of the Two Holy Mosques under the umbrella of "Nusuk," the unified platform for pilgrims to Makkah and Madinah. The pavilion is characterized by an authentic ambience that reflects the Kingdom’s rich culture.
Participating in the Saudi pavilion are more than 20 Saudi entities and companies, including developers of destinations and tourism projects such as NEOM, Cruise Saudi, and Red Sea Global. Additionally, there are organizers of trips and hotels, tourism and travel companies, national airlines, as well as companies specializing in Umrah, trip organization, and providing services to the guests of the Two Holy Mosques.
"The Saudi tourism sector has witnessed continuous growth in recent years, making it the fastest-growing tourist destination in the world. We have welcomed more than 16 million tourists in the first half of this year," said the CEO of Middle East and Africa Markets at the STA, Abdulkarim Yousef Al-Darwish.
The STA’s participation in this exhibition comes at a time when visiting the Kingdom has become easier than ever, with various visa options available.
These include the tourist visa, which also allows for performing Umrah, transit visa, and family visit visa, in addition to the availability of electronic visas for residents of Gulf Cooperation Council (GCC) countries, the United States, the United Kingdom, and European Union countries.
Moreover, visit visa holders from the United States, the United Kingdom, and Schengen countries, as well as citizens of 63 countries worldwide, can also easily visit the Kingdom.

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Business

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks
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Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

The Saudi Ports Authority (Mawani) signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials at Jubail Commercial Port, with an investment exceeding SAR500 million on an area of 49,000 square meters.

The project will contribute to enhancing operational efficiency and increasing handling capacity in line with the objectives of the National Transport and Logistics Strategy to consolidate the Kingdom’s position as a global logistics hub, SPA reported.

This step is part of Mawani’s efforts to strengthen the role of the private sector in supporting the gross domestic product and to reinforce the position of Jubail Commercial Port as a driver of commercial activity. The project’s storage capacity will reach 70,000 cubic tons, boosting the competitiveness of the Kingdom’s ports at both regional and international levels.

The project aims to develop and expand storage capacity and the export of chemical and petrochemical materials in accordance with the highest international standards while supporting supply chains. It includes the establishment and development of specialized facilities for storing and exporting chemical and petrochemical products, as well as the provision of storage and distribution services for local and international import and export of chemicals in line with global quality and safety standards.

The project will contribute to supporting national supply chains, boosting the Kingdom’s chemical logistics capabilities, and raising operational efficiency and capacity, thereby improving customer competitiveness. It also supports the achievement of Saudi Vision 2030 objectives by promoting the development of infrastructure to advance the energy, industry, and supply chain sectors in the Kingdom.

Business

Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
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Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Oil prices were little changed on Tuesday as investors took stock of ​dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen, Reuters reported.

Brent crude futures for February delivery, which expire on Tuesday, were up 15 cents at $62.09 a barrel as of 0918 GMT. The more active March contract was at $61.61, up 12 cents.

US West Texas Intermediate ‌crude gained 14 ‌cents to $58.22.

The Brent and ‌WTI ⁠benchmarks ​settled ‌more than 2% higher in the previous session as Saudi Arabia launched airstrikes against Yemen and after Moscow accused Kyiv of targeting Putin's residence, denting hopes of a peace deal.

Kyiv dismissed Moscow's accusation as baseless and designed to undermine peace negotiations. After a phone call ⁠with Putin, US President Donald Trump said he was angered by details ‌of the alleged attack.

"I think the ‍markets are sensing that ‍a deal is going to be very hard ‍to come by," said Marex analyst Ed Meir.

Traders also watched other Middle East developments after Trump said the United States could support another major strike on Iran were Tehran to resume rebuilding its ballistic missile or nuclear weapons programs.

Despite renewed fears of potential supply disruptions, perceptions of an oversupplied global market remain and could cap prices, analysts say.

Marex's Meir said prices would trend downwards in the first quarter of 2026 due to ‌a "growing oil glut".

Business

Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
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Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo

Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore, the two firms said.

However, analysts warned the deal could fall foul of regulators at a time of fierce technological rivalry between Washington and Beijing.

Exceeding the capabilities of AI chatbots like ChatGPT, AI agents can autonomously perform complex tasks for users, and are seen as having huge potential.

Manus, created by startup Butterfly Effect, can for example sift through and summarize resumes or create a stock analysis website, according to its website.

Meta said Monday that the deal -- the financial details of which were not disclosed -- will "bring a leading agent to billions of people and unlock opportunities for businesses across our products".

"The era of AI that doesn't just talk, but acts, creates, and delivers, is only beginning," Manus chief executive Xiao Hong said on X.

"And now (with Meta), we get to build it at a scale we never could have imagined."

Meta CEO Mark Zuckerberg is making a huge push into AI, spending billions of dollars on acquisitions, hiring engineers and building data centers.

Bloomberg Intelligence analysts said the purchase is likely aimed at expanding Meta's AI agent task capabilities, and that it could be worth more than $2 billion.

However, "it could draw regulatory scrutiny given that Singapore-based Manus was founded in China", the analysts said.