Saudi Aramco beats Apple, Google, Amazon to become world’s most profitable company in Q3
Updated 31 October 2021
Fahad Abuljadayel
RIYADH: Saudi Aramco is the world's most profitable company in Q3, beating tech giants such as Google, Amazon and Apple, as well as other listed energy companies such as ExxonMobil and Shell.
Thanks to the recent increase in oil prices, the Dhahran-based company reported today that its net income in the third quarter increased by 158 percent from a year ago to SR114 billion ($30.4 billion), compared to $11.8 billion a year ago, with a jump in it sales by 80 perecent to SR359 billion ($96 billion).
Aramco president and CEO Amin Nasser, said in a statement today: “Our exceptional third quarter performance was a result of increased economic activity in key markets and a rebound in energy demand, as well as our unique low-cost position, our financial discipline and our proven ability to reliably deliver essential energy and chemical products to our customers.”
“Some headwinds still exist for the global economy, partly due to supply chain bottlenecks, but we are optimistic that energy demand will remain healthy for the foreseeable future,” he added.
“Looking ahead, we are maintaining our strategy to invest for the long term, and we will build on our track record of low-cost and low-carbon intensity performance to advance our recently announced ambition to achieve net-zero Scope 1 and Scope 2 greenhouse gas emissions across our wholly-owned operated assets by 2050.”
Makkah’s urban shift enhances city’s quality of life
By harmonizing religious heritage with modern urban development, Makkah proves that a city can honor its past while embracing the future
Updated 18 min 25 sec ago
Arab News
MAKKAH: Islam’s holiest city is at present witnessing a qualitative urban shift, one that seamlessly blends its spiritual sanctity with a modern, vibrant lifestyle.
By integrating cultural, educational, and entertainment initiatives, Makkah is redefining the visitor experience and significantly enhancing the quality of life for its residents, directly supporting the goals of Saudi Vision 2030.
The city’s transformation was recently highlighted by the success of the Makkah winter season. The event attracted approximately 400,000 visitors — more than 60 percent of whom were locals — demonstrating a strong domestic demand for high-quality public spaces. The season revitalized community interaction, driving a 35 per cent increase in visits to recreational sites and creating more than 1,200 temporary jobs for the local workforce.
Central to this urban renaissance is the Hira Cultural District. Since opening doors in January 2023 near the historic Mount Hira, the district has become a definitive landmark that bridges Islamic history with contemporary identity.
Far from being a static monument, the district has cultivated a thriving creative economy. Its craftsmanship program, which features over 100 artisans, has generated up to SR3 million ($800,269) in sales and attracted 130,000 visitors to live workshops. These interactive spaces allow visitors to engage directly with the region’s heritage, moving beyond passive observation to active participation.
Makkah’s Hira Cultural District has become a definitive landmark that bridges Islamic history with contemporary identity. (SPA photo)
A living legacy
The shift extends to Makkah’s broader ecosystem of museums and cultural sites, which are now positioned as key pillars of cultural tourism. Facilities such as the Revelation Exhibition use cutting-edge technology and multilingual content to narrate the story of the Holy Quran’s revelation, offering an immersive experience that complements the spiritual journey of pilgrims.
These efforts align with the “Makkah: A Living Legacy” campaign, which seeks to document the city’s historical narrative and preserve its collective memory. Recent months have featured a surge in educational workshops for university students and tour guides, ensuring that the human element of Makkah’s history is conveyed with accuracy and depth.
City’s transformation recently highlighted by the success of the Makkah winter season. (SPA photo)
Economic and social impact
The results of this integrated approach are tangible. Specialized museums and restored historic sites now attract up to 1.6 million visitors a year. This cultural enrichment is encouraging pilgrims to linger longer, increasing the average duration of stay by 18 percent.
By harmonizing its religious heritage with modern urban development, Makkah is proving that a city can honor its past while embracing the future, offering a holistic experience that nourishes the soul and the community.
