Saudi Arabia’s yearlong economic contraction has slowed with a transition to growth coming soon as the effect of oil production cuts begins to fade. Forecasts compiled by Bloomberg show the $1.1 trillion economy is set to return to growth in the third quarter with a gain of almost 4%, in what would be the biggest acceleration since the end of 2022. “We expect this to be the last quarter of deeply negative hydrocarbon sector growth,” Carla Slim, an economist with
渣打银行
, told the news agency. OPEC+ has been withholding supplies for almost two years in a bid to prop up oil prices. While that has kept the benchmark Brent crude at an average price of $83.50 a barrel so far this year, that’s lower than the price Saudi Arabia needs to balance its budget, which the IMF estimates at $96 a barrel.
Forget the early days of Tang and squeeze-tube turkey or freeze-dried spaghetti and meatballs on the International Space Station. Travelers aboard SpaceVIP’s Neptune capsule who pay $495,000 for the journey to Earth’s stratosphere will be treated to a menu prepared by innovative Danish chef Rasmus Munk, Arabian Business reports. With the maiden six-hour flight scheduled for the second half of 2025, SpaceVIP founder
Roman Chiporukha
says interest from the UAE has been particularly strong. Though the menu hasn’t been finalized yet, Munk’s Michelin-starred Alchemist restaurant in Copenhagen is known for such dishes as lamb’s brain in walnut oil and cherry sauce, rhubarb gazpacho and “Bikini Toast” filled with Gruyére cheese and Joselito ham. “I want to highlight food as a common thread in our human existence, and it will be truly meaningful to serve it while gazing down at the Earth’s curvature,” Munk said.
