His comment is significant because, like LIV Golf’s team competition and shotgun starts, the 54-hole length of tournaments has been a defining feature, with “LIV” coming from the Roman numeral for 54. Jon Rahm, a star player whose switch to LIV in December was a jolt to the PGA Tour, said he hoped a 72-hole format might help unite the established and upstart tours.
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IMF Launches New Regional Office in Saudi Arabia
The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration. It also underscores the growing economic importance of the region.
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Saudi’s Regional Headquarters Program Moves Forward
In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023.
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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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IMF Sees OPEC+ Turn on Oil Production as Boon for Saudi Economy in 2025 – Report
The International Monetary Fund said it expects OPEC and its partners to start increasing oil output gradually from July, “a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year,” according to a report in Bloomberg. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” […]
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Opinion: By cracking down on the Gaza protests, US universities are betraying their core mission
Huge coalitions of US students have united against Israel’s rampage that has targeted not just Hamas but Gaza society generally, damaged or destroyed the vast majority of buildings, and killed at least 35,000 Palestinians, mainly civilians. The slaughter has been shocking, even given the vicious savagery of the October 7 attack.
- Greg Norman ‘open-minded’ to altering LIV’s signature 54-hole format
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Israel says it is poised to move on Rafah
Israel's military is poised to evacuate Palestinian civilians from Rafah and assault Hamas hold-outs in the southern Gaza Strip city, a senior Israeli defence official said on Wednesday, despite international warnings of a humanitarian catastrophe.A spokesperson for Prime Minister Benjamin Netanyahu's government said Israel was "moving ahead" with a ground operation, but gave no timeline.The defence official said Israel's Defence Ministry had bought 40,000 tents, each with the capacity for 10 to 12 people, to house Palestinians relocated from Rafah in advance of an assault.
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Saudi giga-project Diriyah Gate targets 2027 completion
Diriyah Gate, one of the first Saudi giga-projects, said this week that it was on target for completion by late 2027. The opening of the project’s first hotel is now rescheduled for later this year. “We’re looking forward to the conclusion of our project, probably toward the end of 2027,” said Andrew Tonnor, Diriyah Gate’s chief delivery officer, in a presentation to potential vendors. “We’re one of the five PIF giga-projects, we’ve been incorporated since 2019 when we were founded as a project and development company.
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‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower
More than 200,000 people converged at the conference, including Adam Selipsky, chief executive of Amazon’s cloud computing division, who announced a $5.3 billion investment in Saudi Arabia for data centers and artificial intelligence technology. Arvind Krishna, the chief executive of IBM, spoke of what a government minister called a “lifetime friendship” with the kingdom. Executives from Huawei and dozens of other firms made speeches. More than $10 billion in deals were done there, according to Saudi Arabia’s state press agency.
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Saudi Arabia welcomes panel’s report on UNRWA’s performance
Saudi Arabia welcomed the results of an independent committee’s report on the performance of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA).
The Ministry of Foreign Affairs said in a statement that the results of the report confirm the agency’s main role in supporting the relief, humanitarian and development efforts of the Palestinian people. -
Trump looms large over Biden’s long-shot talks on Israel-Saudi normalization
Sitting together last month, Graham and MBS spoke with Trump for roughly five minutes, two people familiar with the call told CNN. The conversation was friendly and consisted mostly of exchanging pleasantries and casual chatter about the US presidential election. At one point, Trump touted his poll numbers, one of the people said. Not once did the normalization deal come up, both sources said.
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Saudi Arabia’s booming hospitality sector to add 320,000 hotel rooms by 2030
Saudi Arabia is projected to have 320,000 new hotel rooms by 2030 across the country to accommodate an influx of 150 million domestic and international tourists annually, according to a new report.
This expansion, according to the figures by global property consultancy Knight Frank, will boost the nation’s travel and tourism industry which already accounts for nearly six percent of Saudi Arabia’s GDP today and is central to achieving the government’s goal of tourism contributing 10 percent to the economy by 2030.
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Saudi Arabia makes up 41% of GCC telecom revenues, 37% of assets
Saudi Arabia accounted for 41% of total revenues in the GCC telecommunications and information technology sector and 37% of total assets. The revenues of Saudi-listed companies listed within the sector reached about SAR 119 billion in 2023, marking growth of more than 10% year-on-year (YoY). This was presented by Argaam team during the ICT Indicators Forum 2024 in its tenth edition, organized by the Communications, Space & Technology Commission (CST). The Kingdom accounted for 34% of the total sector’s assets valued at SAR 250 billion in 2023, with a YoY rise of about 12%.
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Saudi Arabia’s King Salman leaves hospital after tests
Saudi King Salman left hospital after a routine check-up on Wednesday, the Royal Court said in a statement carried by the official Saudi Press Agency.
Earlier in the day, the Royal Court said King Salman entered King Faisal Specialist Hospital in Jeddah for a routine check-up for “a few hours".
“May Allah protect the Custodian of the Two Holy Mosques and grant him health and wellness,” the court said.
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