
Saudi Arabia to lift 73-year-old alcohol ban: Here's what you need to know
Saudi Arabia is poised to lift its 73-year alcohol ban in 2026, permitting controlled sales in select locations like luxury hotels and tourist spots. This significant shift, driven by preparations for Expo 2030 and the FIFA World Cup 2034, will limit sales to beer, wine, and cider. Strict licensing and trained staff will oversee distribution, aligning with Saudi customs.
Change is the only constant. And if you think that these are mere words of wisdom, it's time to head to Saudi Arabia to experience it, as as the authorities will now allow the controlled sale and consumption of alcohol in 2026.
The change is part of the country's preparations for international events, including Expo 2030 and the FIFA World Cup 2034.
As per reports, the country is all set to remove the 73-year-old alcohol ban since 1952, keeping the global events in mind. It is reported that the sale will be limited to certain areas, which will include luxury hotels, resorts, and other tourist places, along with 600 places around Saudi Arabia.
It has been reported that only beer, wine, and cider will be allowed at these places and strong alcoholic drinks will be strictly prohibited. Also, the government will not allow alcohol in homes, shops, and other public places, states a report by Economic Times. The strict licensing rules for alcohol sale states that only licensed venues and trained staff will be allowed to serve alcohol. And these rules are being defined to match the country's customs and standards.
What do you think of this change in beverage consumption in Saudi Arabia? Share your thoughts in the comment section.
Thumb and Embed Images Courtesy: istock
Can't eat your food without snapping a picture first?
Join our Food Photography Contest and stand a chance to win exciting prizes!
Click HERE for details.
Join our WhatsApp Food Community to discover delicious recipes, enjoy fascinating food stories, and stay updated with the latest food news! Click
here
One step to a healthier you—join Times Health+ Yoga and feel the change
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
an hour ago
- Economic Times
Banks park big money with 'rival' mutual funds
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Much of the debate in the banking industry in 2024 revolved around why the deposits growth was extremely muted in relation to the growth in credit. Some blamed it on mutual funds, some on gold and others on derivatives trading by individuals. But the truth was a lot more 2025, Indian financial markets are seeing something that they don't see often. Banks, which, forever, used to seek deposits or borrow from the market to lend are doing something strange: they are pouring funds into mutual funds which, partly, compete with them for a share of the investor's mutual fund investments jumped 91% on year to ₹1.19 lakh crore as on March 21, 2025, from ₹62,499 crore a year earlier, data from the Reserve Bank of India (RBI) bulletin showed. Banks' MF investments had grown 28% in the previous fundamental business of banks is to lend to individuals who are keen to buy homes and cars, or to those entrepreneurs and companies which are looking to put up plants or set up services business. But they seem to be keen on giving funds to MFs instead of directly lending to borrowers. Why is it?There may be two reasons for that-one, that there is not much demand for loans from banks, and second, that they are suddenly finding themselves with surplus funds because of what the monetary authorities are doing."Besides suboptimal credit growth, bank investments in mutual funds schemes have gone up due to surplus liquidity conditions, favourable market conditions and relatively faster execution," said Vinod AN, general manager and treasury head at South Indian Bank Banks loans grew 12.1% in FY25, down from 16.3% a year earlier. This is probably due to slowing income growth and uncertainties on the jobs front for many. This situation is the opposite of what was the situation in the year before when loans grew 16.3%, and deposits were at 12.9% growth. This led to a lot of debate about whether there is a behavioural shift in savers."Households and consumers who traditionally leaned on banks for parking or investing their savings are increasingly turning to capital markets and other financial intermediaries," said former RBI governor Shaktikanta Das. "While bank deposits continue to remain dominant as a percentage of financial assets owned by households, their share has been declining. Households are turning to other avenues for deploying their savings instead of banks." While individual behaviour was part of the problem, there was also a monetary phenomenon at work. The RBI, which wanted to tame inflation kept the monetary conditions tight, forcing banks to borrow from it or the market. But that has since changed to accommodative from banking system is in surplus at ₹1.5 lakh crore. Banks probably have more than what they need to meet the loans are parking excess funds with MFs. Are they buying shares? Or, are they doing SIPs? Neither. They know that this is a short-term issue. They are also doing something to earn higher short-term returns. "Most investments are in liquid and money market schemes, which is also reflected in the MF investment numbers where investments are in zero risk short-term debt instruments such as T-bills where returns are higher," said Venkat N Chalasani, CEO, Association of Mutual Funds in India (AMFI).


Hindustan Times
2 hours ago
- Hindustan Times
Bruno Fernandes turns down lucrative Al Hilal offer to stay at Man United
MUNICH — Manchester United captain Bruno Fernandes has turned down a proposed move to Saudi club Al Hilal because he wants 'to play at the highest possible level.' Fernandes confirmed Tuesday that he had received an 'exciting offer' from the Riyadh-based club to switch after what was a disappointing season for United. 'They waited for me to think about my future, because I said only if Manchester thought it was the time to move on, that I'd be willing to do so,' Fernandes said through an interpreter. 'I talked to the gaffer, Ruben Amorim, and at the time he asked me not to go. I then talked to Man United. They said they didn't want to sell me. If I wanted to go, I could, but they didn't need the money, they didn't need to sell me.' Media reports suggested Al Hilal was prepared to pay 100 million pounds to take the 30-year-old Fernandes from United while offering him a wage of 700,000 pounds per week to play for the Saudi Pro League team. 'It was a very exciting offer,' Fernandes said. 'The president of Al Hilal, he was very nice to me. He talked to my manager but then I talked to my wife and as a family we wanted to see what I wanted to do. She asked me, what do you want to do with your future?' Fernandes last year signed a contract extension to stay at Old Trafford until June 2027. This season did not go as planned as the Red Devils failed to qualify for the Champions League after finishing 15th in the Premier League, while it also endured the heartbreak of losing the Europa League final to Tottenham. 'We had goals and we didn't meet them,' said Fernandes, a key figure for United since his arrival in January 2020. He said it would have been easy for the family to make the move to Riyadh, and for him to adjust to the team with Portugal teammates Rúben Neves and João Cancelo already playing for Al Hilal. 'I'm used to them, but I want to play at the highest possible level," he said. "I want play for major competitions. I know I still can, and I want to be happy doing the thing I love the most. And for better or worse, I'm still very passionate about football. This is how I see football. This is how I see my life and my future, and I'm happy about the decision I made.' Fernandes was speaking as a Portugal player before the team's Nations League semifinal against Germany on Wednesday in Munich. The winner of that game will face either France or Spain in Sunday's final. soccer: /hub/soccer


Economic Times
3 hours ago
- Economic Times
EU FTA to be comprehensive, not interim: Officials
Synopsis India and the EU are negotiating a comprehensive free trade agreement. It will not include an early harvest deal. Discussions are ongoing regarding Geographical Indications. Investment protection is also being discussed. Both sides are addressing concerns like the EU's carbon border adjustment mechanism. India may impose retaliatory duties if the EU imposes a carbon tax. The India-EU free trade agreement (FTA) is likely to be a comprehensive one without any early harvest deal or a pact on Geographical Indications or an investment protection agreement, officials said. ADVERTISEMENT The two sides are also discussing if any exemptions or carve-outs can be given to India on the EU's carbon border adjustment mechanism (CBAM) and officials said talks on the issue were going on. "The FTA will be a comprehensive one. These are dynamic issues," said an official. India and the EU aim to close the negotiations for the trade pact by the end of December. Commerce and industry minister Piyush Goyal said the talks can be concluded earlier than that but there are certain sensitive issues on both sides that must be negotiations for an Investment Protection Agreement and an Agreement on Geographical Indications since June 2022 are also Delhi has concerns related to certain practices and regulations of the EU such as CBAM and EUDR while the bloc held that India's quality control orders were a challenge. "On CBAM, talks are going on," said another official. ADVERTISEMENT India has already said it will impose retaliatory duties if the EU imposes carbon tax on Indian goods. The EU's CBAM is expected to translate into a 20-35% tax on select imports into the bloc from January 1, 2026, and will impact the cement, iron and steel, aluminium, fertiliser, electricity and hydrogen sectors. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY