Saudi Arabia: to open stock market to foreigners on June 15

JEDDAH: Saudi Arabia will open its $532 billion stock market to direct foreign investment on June 15, allowing qualified foreign institutions to buy shares, the Capital Market Authority (CMA) said.

Final rules covering the opening of the market will be published on May 4, the CMA added.

The authority announced last July that it would permit direct foreign purchases of shares in the first half of 2015.
Fund managers believe tens of billions of dollars will eventually enter the country as a result.

Saudi Arabia: Philippines to participate at Riyadh Travel Fair 2015

The Philippines Department of Tourism (PDOT) has confirmed its participation at the Riyadh Travel Fair 2015 edition, to be held on April 14-19 at the Four Seasons Hotel Riyadh, as part of a strengthened initiative to proactively attract family travellers from the kingdom to visit the Philippines during the Visit Philippines Year 2015 promotions.

Verna Buensuceso, Officer-In-Charge, Market Development Group, Philippines Department of Tourism, said:

Saudi Arabia: New International Airport in Madinah launched

A Saudi Arabian Airlines domestic flight coming from Riyadh landed at 11 a.m.

Sunday at the new Prince Muhammad Bin Abdul Aziz International Airport in Madinah, marking the start of the airport’s test run operations Flight SV1435 was the first to land at the airport.

Another aircraft, flight SV1476, then took off at 11:45 a.m., the first ever to take off from the new facility.

Saudi Arabia: Basketball Saudi Stars vs Filipino Legends in Jeddah

Filipino Basketball legends and stars from the oldest professional basketball league in Asia will clash with Saudi Legends in an exhibition game at the Presidency and Youth Sports Complex in Jeddah Saturday (April 18)

The games are aimed at strengthening ties between the Philippines and the Kingdom. Different local teams will fight it out with the visiting team in games scheduled in three cities.

Organizer Mohammed Khamis, former Saudi national player and director general of Saudi Basketball Academy, said the exhibition match will be one for the record books.

“We would like to give a very exciting game to all basketball fans in Jeddah,” he said. The exhibition match featuring some of the former best players from the Saudi Basketball League and PBA (Philippine Basketball Association) and there will also be a three-point shoot-out and a slam dunk competition before the main event.

Saudi Arabia: Ras Tanura port reopens after shutdown

Saudi Arabia's Ras Tanura port reopened on Tuesday as weather conditions improved, two shipping industry sources told Reuters.

The port in the east of Saudi Arabia, a major oil operations center for Saudi Aramco, was shut on Monday because of poor visibility and strong winds.

"The port is open now - in the early morning, loading is going smoothly," said one of the sources.