Saudi Arabia's first cinema to open on April 18

Agencies
April 5, 2018

Riyadh, Apr 5: Saudi Arabia's first cinema in over three decades will open on April 18 in Riyadh, authorities said Wednesday, after a ban was lifted last year as part of a far-reaching liberalisation drive.

AMC Entertainment has been granted the first licence to operate cinemas, with Saudi state media saying the US giant is expected to open 40 cinemas across 15 Saudi cities over the next five years.

"AMC plans to open the Kingdom's first cinema theatre in Riyadh on April 18," the information ministry's Centre for International Communication said in a statement.

The news comes after AMC Entertainment signed a non-binding agreement in December with Saudi Arabia's vast Public Investment Fund to build and operate cinemas across the Kingdom.

"The granting of the first licence marks the opening of very significant opportunities for exhibitors," Information Minister Awwad Alawwad was quoted as saying in the statement.

"The Saudi market is very large, with the majority of the population... eager to watch their favourite films here at home."

International theatre chains have long eyed the kingdom as the Middle East's last untapped mass market of more than 30 million people, the majority of whom are under 25.

The move to reopen cinemas is part of a modernisation drive by Crown Prince Mohammed bin Salman, who is seeking to balance unpopular subsidy cuts in an era of low oil prices with more entertainment options - despite opposition from religious hardliners.

The Kingdom has embarked on a wide-ranging programme of social reforms that includes boosting sports and entertainment and allowing women to drive from June.

In February, Saudi Arabia's General Entertainment Authority (GEA) announced it will stage more than 5,000 festivals and concerts in 2018, double the number of last year, and pump $64 billion in the sector in the coming decade.

The reform stems partly from an economic motive to boost domestic spending on entertainment as the kingdom reels from an oil slump since 2014.

Comments

shaji
 - 
Thursday, 5 Apr 2018

Congratulations to saudi nationals especially to female members who are very eager to pass their time in watching movies and other entertainments.  They used to go to Bahrain, DubaI ETC. for entertainment and now there is no need to go to other countries.   I hope more liberty will be given to Saudi Nationals to enjoy their life like in Dubai/Bahrain/Kuwait etc.

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Agencies
June 22,2020

Riyadh, Jun 22: The Ministry of Municipal and Rural Affairs (MMRA) in Saudi Arabia has announced the continuation of the ban on providing Shisha (hubble-bubble), and the closure of children's play areas in restaurants as a precautionary measure for protecting the health of citizens and residents from the novel coronavirus COVID-19 infection.

The new stage, in which the Kingdom is beginning to coexist with the virus, focuses on the concept of "social distancing" that has emerged since the start of the coronavirus crisis throughout the world,

It stipulates leaving at least 2 meters between one person and the other in public places to prevent the transmission of infection, in addition to covering the mouth and nose by wearing a facemask.

It also specifies complying with the preventive protocols in workplaces, stores, shops, mosques and tourist attractions, with human gatherings not to exceed 50 people, as a maximum.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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News Network
July 26,2020

A gang has been spreading rumours about me in the Hindi film industry that is preventing him from getting work, says Academy award-winning music director A R Rahman.

Collaborations between him and the Hindi film industry have reduced as a result, he adds

The maestro had composed music for Sushant Singh Rajput's Dil Bechara said that the reason he is not doing a lot of work is that a gang has been spreading rumours about him which resulted in him getting fewer projects.

Rahman's comments come amidst a raging insider versus outsider debate in Bollywood following actor Sushant Singh Rajput's untimely demise last month.

During an interview with Radio Mirchi, the Oscar-winning music director was asked the reason for doing less Hindi films.

Rahman said there has been "misunderstanding" between him and filmmakers as some people have been spreading "false rumours" about him in the industry.

"See, I don’t say no to good movies, but I think there is a gang, which, due to misunderstandings, is spreading some false rumours. So when Mukesh Chhabra came to me, I gave him four songs in two days. He said, 'Sir, how many people said don’t go, don’t go (to him). They told me stories after stories'," he said.

"I heard that, and I said, 'yeah okay, now I understand why I am doing less (work) and why the good movies are not coming to me.' I am doing dark movies, because there is a whole gang working against me, without them knowing that they are doing harm," the composer added.

Rahman has composed the music for Rajput's last movie "Dil Bechara", which premiered on Disney+ Hotstar on Friday. The film, directed by Mukesh Chhabra, also features Sanjana Sanghi and Saif Ali Khan.

The composer further said that he is aware of people's expectations from him but the "gang" is getting in his way.

"People are expecting me to do stuff, but there is another gang of people preventing that from happening. It is fine because I believe in destiny. I believe that everything comes from God.

"So, I am taking my own movies and doing my other stuff. But all of you are welcome to come to me. You make beautiful movies, and you are welcome to come to me," Rahman added.

Dubbed ‘Mozart of Madras’, A R Rahman has composed soundtracks for movies like Swades, Dil Se, Guru, Rockstar and more recently Sushant Singh Rajput’s Dil Bechara. 

The composer won two Academy Awards in 2009 for his songs in the popular Hollywood movie, Slumdog Millionaire. The composer also received a Golden Globes Award for his work in this movie.

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