Royal Commission for Riyadh City Announces Completion of Northeast Riyadh Master Plan

Riyadh, the Saudi capital (SPA)
Riyadh, the Saudi capital (SPA)
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Royal Commission for Riyadh City Announces Completion of Northeast Riyadh Master Plan

Riyadh, the Saudi capital (SPA)
Riyadh, the Saudi capital (SPA)

The Royal Commission for Riyadh City (RCRC) has announced the completion of the master plan for Northeast Riyadh, covering a total area of approximately 456 square kilometers. The strategically located area connects with King Khalid International Airport, AlSulai Valley, Dammam Road, and AlJanadriyah Road.

The master plan establishes a comprehensive vision for land use in the area, grounded in key planning principles. Most notably, these include establishing a long-term urban model that enables phased expansion, designing integrated communities that bring together residential spaces and daily essential services, and maintaining a balanced distribution across residential, economic, recreational, and natural zones, SPA reported.

The development of the master plan forms part of Riyadh’s long-term expansion framework as the capital continues its rapid urban, population, and economic growth. The plan guides one of the city’s primary future growth directions to meet both current and future demands, with a dedicated focus on enhancing quality of life, expanding green spaces, and preserving natural valleys within a balanced and interconnected urban structure.

CEO of the Royal Commission for Riyadh City Eng. Ibrahim Mohammed Al-Sultan expressed his deepest gratitude and appreciation to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the RCRC, for their unwavering support and care for the capital.

He explained that the initial master plan for Northeast Riyadh represents a pivotal planning milestone in the capital’s overall development trajectory. He emphasized that it reflects the commission’s commitment to anticipating the city’s future needs, guiding its expansion, and preparing long-term blueprints that keep pace with Riyadh’s growth.

The commission clarified that the master plan for Northeast Riyadh represents an initial planning phase rather than the launch of an immediate execution project. Subsequent planning phases and detailed regional blueprints will follow in coordination with relevant entities. Any future updates will be announced through the official channels of RCRC and designated authorities.



OPEC Further Lowers 2026 Global Oil Demand Growth Forecast

FILED - 09 December 2023, United Arab Emirates, Dubai: FILE PHOTO - A view of the OPEC pavilion on the COP28 grounds. Photo: Hannes P Albert/dpa
FILED - 09 December 2023, United Arab Emirates, Dubai: FILE PHOTO - A view of the OPEC pavilion on the COP28 grounds. Photo: Hannes P Albert/dpa
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OPEC Further Lowers 2026 Global Oil Demand Growth Forecast

FILED - 09 December 2023, United Arab Emirates, Dubai: FILE PHOTO - A view of the OPEC pavilion on the COP28 grounds. Photo: Hannes P Albert/dpa
FILED - 09 December 2023, United Arab Emirates, Dubai: FILE PHOTO - A view of the OPEC pavilion on the COP28 grounds. Photo: Hannes P Albert/dpa

OPEC on Thursday lowered its forecast for world oil demand growth in 2026 to 380,000 barrels per day, ⁠a copy of its ⁠monthly report showed, marking the fifth straight downward revision.

The producer group continues ⁠to see a smaller impact on consumption since the Iran war started than other forecasters, such as the International Energy Agency, which expects demand to decline in 2026.

The ⁠Organization ⁠of the Petroleum Exporting Countries also raised its forecast for 2027 oil demand growth, according to the report on its website.


HSBC's 1st Female CFO Pam Kaur to Step Down in 2027

FILE PHOTO: HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic/File Photo
FILE PHOTO: HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic/File Photo
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HSBC's 1st Female CFO Pam Kaur to Step Down in 2027

FILE PHOTO: HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic/File Photo
FILE PHOTO: HSBC logo is seen in this illustration taken January 7, 2026. REUTERS/Dado Ruvic/File Photo

HSBC Chief Financial Officer, Pam Kaur, plans to step down in 2027, the latest high-profile executive departure at the Asia-focused lender.

Kaur will not stand for re-election as a director at the lender's 2027 annual general meeting, the bank said on Thursday, according to Reuters.

HSBC said its board has started to look for a successor, and will consider "both internal and external candidates".

Her planned exit puts leadership stability back under scrutiny. In December, HSBC unexpectedly named interim chair Brendan Nelson to the permanent role after a ⁠drawn-out, seven-month search.

Kaur's official ⁠retirement date as Group CFO would be confirmed in due course but would be no later than the company's 2027 AGM, which is usually in May, according to the bank.

Pam Kaur was the bank's first female finance chief in its over 160-year ⁠history.

Since her appointment in October 2024, Kaur has been widely regarded as the top aide to HSBC CEO Georges Elhedery as he leads a global overhaul.

The restructuring splits the bank's footprint into East and West regional divisions, driven by market exits and deep cost cuts to streamline operations.

After stepping down from the full-time role of Group CFO and executive director, Kaur will take on an advisory role to support Group ⁠CEO ⁠Georges Elhedery on ongoing strategic projects, the bank said.

Last month, HSBC's global chief executive for the insurance business Edward Moncreiffe left the bank after two decades at the banking group.

Recent high-profile exits include former head of banking for Europe and the Americas Gerry Keefe, who resigned in April, and its cash equities trading heads, James Grafton and Steve Jobber, who left in February.

The bank's former US banking chief Lisa McGeough departed last September.


Abu Dhabi Flights to Red Sea International Airport Launch October 4

Red Sea International Airport currently connects to Riyadh, Jeddah, Dubai, Doha, and Milan through approximately 20 domestic and international flights each week - SPA
Red Sea International Airport currently connects to Riyadh, Jeddah, Dubai, Doha, and Milan through approximately 20 domestic and international flights each week - SPA
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Abu Dhabi Flights to Red Sea International Airport Launch October 4

Red Sea International Airport currently connects to Riyadh, Jeddah, Dubai, Doha, and Milan through approximately 20 domestic and international flights each week - SPA
Red Sea International Airport currently connects to Riyadh, Jeddah, Dubai, Doha, and Milan through approximately 20 domestic and international flights each week - SPA

Red Sea Global has announced the launch of scheduled flights connecting Abu Dhabi with Red Sea International Airport from October 4. The inaugural flight will depart from Zayed International Airport on Sunday, October 4, 2026, with a weekly service every Sunday.

From October 25, the frequency will increase to twice weekly, on Thursdays and Sundays, SPA reported.

Red Sea Global Group CEO John Pagano said: "Our partnership with Etihad Airways marks an important step in improving accessibility by connecting the destination to one of the world’s leading airline networks. As we continue to expand our portfolio of resorts and experiences, stronger international air connectivity enables us to welcome more visitors from key markets worldwide."

The General Authority of Civil Aviation, the Air Connectivity Program, and daa International, the operator of Red Sea International Airport, played pivotal roles in launching the flights.

The Red Sea is an extensive luxury tourism destination offering experiences across islands, coastlines, and desert landscapes. It currently has 11 resorts in operation, including Six Senses Southern Dunes, Nujuma, a Ritz-Carlton Reserve, and Four Seasons Resort and Residences Red Sea. A further six resorts are set to open in the coming months.

Red Sea International Airport currently connects to Riyadh, Jeddah, Dubai, Doha, and Milan through approximately 20 domestic and international flights each week.