Expo City Dubai officially opens, aims to bring back Expo 2020 Dubai visitors

Expo City Dubai officially opens, aims to bring back Expo 2020 Dubai visitors
The award-winning Saudi Arabia and the UAE pavilions at Expo City Dubai will re-open later this month. (Expo City Dubai)
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Updated 01 October 2022

Expo City Dubai officially opens, aims to bring back Expo 2020 Dubai visitors

Expo City Dubai officially opens, aims to bring back Expo 2020 Dubai visitors
  • Award-winning Saudi Arabia and the UAE pavilions to re-open later in October
  • Opening of other country pavilions will be announced soon

DUBAI: One year after Expo 2020 Dubai debuted to the world, the global fair’s legacy site has again opened its doors to the public on Saturday hoping to attract the multitude of visitors that flocked to the six-month event described as the greatest show on earth.

Speaking to Arab News, Ahmed Al-Khatib, chief development and delivery officer of Expo City Dubai, said the legacy site, which retained 80 percent of the Expo infrastructure, will be beyond a touristic destination or a UAE community favorite.

While carrying forward Expo 2020 world fair’s energy and excitement, Expo City Dubai also aims to be a dynamic, futuristic city, which is home to tech-driven businesses and entertainment offerings, Al-Khatib added.

Expo 2020 Dubai, the first World Expo to be hosted by Arab nation, welcomed over 24 million visitors. Expo City Dubai will feature an array of entertainment facilities, pavilions and restaurants when its development plans have been completed by 2023.

“The comprehensive city will drive innovation and action on its journey to net zero, cultivating a sense of personal agency among both tenants and visitors,” Al-Khatib told Arab News.

Expo City Dubai will be home to major businesses including Siemens, DP World and Terminus, he said.

Business tenants, who will start moving in stages this month, are being selected with a focus on areas such as sustainability, innovation, technology, education and healthcare, Al-Khatib explained.

Al-Khatib added that Expo City Dubai will also be the new go-to destination for business and globally significant events, including the much-anticipated 2023 UN Climate Change Conference (COP 28).

The city, he added, is unique for its open and public spaces where people can freely walk or bike, thus “presenting a smarter, more balanced, resilient, and sustainable way of life.”

It features 10 kilometers of cycling tracks, a 5km running track and 45,000-square meters of parks and gardens.

Meanwhile, a rich cultural and entertainment program will carry the spirit of the World Expo, celebrating imagination and ingenuity.

Unique visitor experience

Visitors to Expo City Dubai can now experience two re-opened pavilions – Vision Pavilion and the Women’s pavilion – besides the two major Mobility (Alif) and Sustainability (Terra) pavilions that re-launched earlier in September.




Al-Wasl Dome is returning with free immersive projections five days a week, from Wednesday to Sunday, after sunset. (Expo City Dubai)

Al-Wasl Dome, an Expo 2020 favorite, is also returning with free immersive projections five days a week, from Wednesday to Sunday, after sunset.

Other free-of-charge open-air facilities are the water feature, as well as children’s playgrounds and the carousel.

The Garden in the Sky, a 55-meter-high rotating observation tower that offers 360-degree views, has been reopened earlier with tickets priced at around $8 per adult.

The award-winning Saudi Arabia and the falcon-inspired UAE pavilion are to re-open later this month, with other country pavilions set to open “soon”, according to the Expo team.

Visitors can access all the flagship pavilions, including ones that will open in the future, with a $31 (AED 120) one-day Attractions Pass. Otherwise, individual pavilion tickets will cost $14 (AED 50) per person, with free-of-charge entry for children aged 12 and under, and people with disabilities.

Later this year, the Opportunity Pavilion will become the Expo 2020 Dubai Museum — a new feature highlighting the history and impact of World Expos and celebrating the success of Expo 2020 Dubai.

From a dining perspective, Expo City Dubai now hosts five food trucks and three restaurants.

“We will continue to expand our dining options to suit all tastes, with more restaurants opening in the near future,” Al-Khatib told Arab News.


Saudi-Chinese relations witness ‘qualitative leap,’ says energy minister

Saudi-Chinese relations witness ‘qualitative leap,’ says energy minister
Updated 07 December 2022

Saudi-Chinese relations witness ‘qualitative leap,’ says energy minister

Saudi-Chinese relations witness ‘qualitative leap,’ says energy minister
  • China has become the top destination for Saudi oil exports
  • President Xi Jinping arrived in Saudi Arabia earlier on Wednesday as part of a three-day visit

RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman on Wednesday said that relations between the Kingdom and China are witnessing a qualitative leap, reflecting the keenness of both countries’ leaderships to develop them at all levels.

In remarks to the Saudi Press Agency during the Saudi-Chinese Summit in Riyadh, Prince Abdulaziz said that the Kingdom has strong and close strategic relations with China in many fields, the most important of which is energy.

China has become the top destination for Saudi oil exports as part of the high volume of trade exchange between the two countries, with continued annual growth over the past five years, he said, adding that Saudi-Chinese energy ties include multiple joint investments.

China’s President Xi Jinping arrived in Saudi Arabia earlier on Wednesday as part of a three-day visit to the Kingdom following an invitation by King Salman to attend the summit, which will run until Dec. 9.

Prince Abdulaziz highlighted the importance of cooperation between the two countries in maintaining stability of the global oil market, and said that the Kingdom will remain China’s credible and reliable partner in facing future energy challenges.

The minister also reviewed areas of cooperation between the Kingdom and China, mainly through projects to convert crude oil into petrochemicals, renewable energy, clean hydrogen, electricity projects and peaceful uses of nuclear energy, as well as investment in integrated refining and petrochemical complexes in both countries.

He highlighted the two nations’ efforts to boost cooperation in energy supply chains by establishing a regional center in the Kingdom for Chinese factories.


Budget 2023: Saudi Arabia exceeds surplus estimate and revises up GDP forecast

Budget 2023: Saudi Arabia exceeds surplus estimate and revises up GDP forecast
Updated 07 December 2022

Budget 2023: Saudi Arabia exceeds surplus estimate and revises up GDP forecast

Budget 2023: Saudi Arabia exceeds surplus estimate and revises up GDP forecast

RIYADH: Saudi Arabia has recorded a larger-then-expected budget surplus for 2022 of SR102 billion ($27.13 billion) — SR12 billion higher than previously forecast.

The surplus comes as the Kingdom's gross domestic product is also set to exceed expectations — registering growth of 8.5 percent compared with the 7.5 percent estimated in December 2021 and the 8 percent forecast in pre-Budget statement published at the end of September.

GDP growth is forecast to slow to 3.1 percent in 2023.

The revelations came as the Saudi government approved a SR1.114 trillion budget for 2023, itself expected to post a surplus of SR16 billion, Saudi media outlets reported.

The Kingdom expects revenues of SR1.13 trillion next year, Saudi-owned Al Arabiya TV reported. The surplus is equivalent to 0.4 percent of gross domestic product — 0.2 percentage points higher than forecast in September 

Total revenues are forecast at SR1.234 trillion for 2022, while spending is SR1.132 trillion, meaning a surplus of 2.6 percent of GDP — 0.1 percentage point higher than previously forecast.

Saudi Arabia’s inflation, which recorded 2.6 percent in 2022, is expected to fall to 2.1 percent in 2023.

This is a developing story


Saudi’s KAPSARC signs information exchange agreement with Chinese research institute

Saudi’s KAPSARC signs information exchange agreement with Chinese research institute
Updated 07 December 2022

Saudi’s KAPSARC signs information exchange agreement with Chinese research institute

Saudi’s KAPSARC signs information exchange agreement with Chinese research institute

RIYADH: Saudi Arabian think tank King Abdullah Petroleum Studies and Research Center, has signed a Memorandum of Understanding with China’s Economics & Technology Research Institute to exchange information around energy, economics, and climate change

Under the terms of the MoU, both entities will work hand in hand in order to allow for the exchange of research and the generation of actionable insights.

Some of the fields of common interest which will be prioritized topics of research include energy, economics, climate change, sustainability, transition, productivity, hydrogen, carbon capture, among others.

The MoU falls in line with KAPSARC’s mission to utilize applied research and innovation to drive and propel the global energy sector, while the Chinese organization is affiliated with oil and gas firm China National Petroleum Corporation.

“We see a lot of common interest and alignment between China’s and Saudi Arabia's position when it comes to energy and climate. We both understand and reiterate the idea of common but differentiated responsibility when it comes to climate change,” KAPSARC’s president Fahad Alajlan said in a statement.

Through joint workshops, the exchange of ideas and insights between experts, and the creation of platforms that facilitate global cooperation and knowledge exchange, both institutions will work together on deliver research.

“As important energy producers and consumers in the world, China and Saudi Arabia play an important role in maintaining the stability of the international energy market, addressing climate change, and promoting the realization of energy green transformation goals,” added CNPC ETRI’s president Yu Guo.


Saudi bourse crashes to 19-month low, ends at 10,185 points: Closing bell

Saudi bourse crashes to 19-month low, ends at 10,185 points: Closing bell
Updated 07 December 2022

Saudi bourse crashes to 19-month low, ends at 10,185 points: Closing bell

Saudi bourse crashes to 19-month low, ends at 10,185 points: Closing bell

RIYADH: The Tadawul All Share Index collapsed on Wednesday, losing 259.13 points — or 2.48 percent — to close at 10,185.14 points. The last time the index witnessed this level was on April 26, 2021, when the market ended at 10,231.  

The advance-decline ratio took a huge hit, after 158 stocks of the listed 219 dropped while 42 gained. The total trading turnover was SR3.68 billion ($980 million) compared to Tuesday’s SR4.96 billion. 

TASI’s steep fall was driven by the banking index, which fell 448.45 points or 3.88 percent to 11,123.58. While Al Rajhi Bank tumbled 4.88 percent to close at SR74, Riyad Bank shed 4.7 percent to SR30.40. Arab National Bank slumped 4.08 percent to SR30.55. 

The other indices that boarded the southbound bandwagon were MSCI Tadawul 30 Index, which fell by 2.99 percent, Diversified Financials by 2.77 percent, Healthcare Equipment and Services by 2.72 percent and Materials by 2.42 percent.  

According to market sources, the dampened spirit among investors could be attributed to the fear of a global economic downturn. The hunch that the US Federal Reserve could increase interest rates further, following positive US services industry data released on Monday, upset the apple cart. 

The trend is contagious as Saudi Arabia, like most Gulf Cooperation Council countries, has its currency pegged to the US dollar. Therefore, any policy move of the Fed has a direct impact on the regional markets. 

The Qatari index QE General slumped 154.24 points to close at 11,463.07, while the Abu Dhabi index FTSE ADX General declined 71.61 points to end at 10,336.34.  

Back to Tadawul, the top loser of Wednesday was Tourism Enterprise Co., which slid 5.3 percent to close at SR22.90, while the top gainer was Buruj Cooperative Insurance Co. It rose 9.61 percent to end at SR16.66. 

On a positive note, on Wednesday, Scientific & Medical Equipment House Co. bagged a medical operation project tender in the medical centers affiliated with the General Department of Medical Services at a total value of SR8.71 million.  

The project will be implemented in 14 months in four affiliated medical centers across Riyadh, Jeddah, Taif and Al-Muzahimiyah. 


Saudi Arabia’s Ajex expands its logistics services to China and Middle East 

Saudi Arabia’s Ajex expands its logistics services to China and Middle East 
Updated 07 December 2022

Saudi Arabia’s Ajex expands its logistics services to China and Middle East 

Saudi Arabia’s Ajex expands its logistics services to China and Middle East 

RIYADH: Saudi firm Ajex Logistics Services has announced the launch of two new services as a part of its expansion strategy into China and the Middle East. 

The services are the AJEX international e-commerce express, known as ICX, and AJEX international express service, called IXS.  

They will provide businesses in China, Saudi Arabia, UAE, and Bahrain with a portfolio of express cross-border delivery services for customers.  

“Introducing ICX and IXS services in China, Saudi Arabia, UAE and Bahrain is an important enhancement to our service portfolio, driven by our customers’ requirements for speed, reliability, and transparency,” said Ajex's Chief Marketing & Experience Officer Nathalie Amiel-Ferrault.  

She added: “Saudi Arabia is the largest e-commerce market in the Middle East, and the end-consumers expect flexibility, late-night deliveries, and ease of payment, with cash-on-delivery representing more than 30 percent of e-commerce.”   

According to the report, customers will be able to send single-piece and multi-piece shipments from China to Saudi Arabia, UAE and Bahrain in four to seven days.  

Ajex is a joint venture between Ajlan & Bros Holding and SF Express. 

For Saudi Arabia, logistics is a crucial sector to achieve its goals outlined in Vision 2030, as the Kingdom is now diversifying its economy, which has been dependent on oil for several decades.  

Earlier in October, while speaking at the Supply Chain and Logistics Conference in Riyadh, Saudi Minister of Transport and Logistics Saleh Al-Jasser said that the Kingdom is working to inaugurate 59 logistic zones to bolster supply chains and logistic services.  

In June, in an exclusive interview with Arab News, Sulaiman Al-Mazroua, CEO of the National Industrial Development and Logistics Program, noted that the Kingdom’s logistics sector needs a huge investment combined between the government and private sector by 2030.  

He added that Saudi Arabia would provide the right business environment to attract world transportation companies to operate in the Kingdom, which will help the nation emerge as one of the world’s busiest logistics centers.