Populous designs feature a 5,155-seat venue with one of the world’s largest combined total areas of video screens, plus a ‘digital chandelier’ above the main seating auditorium.
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Report: $7.9 Billion Bid for KAFD by Saudi Arabia’s Public Investment Fund
Saudi Arabia’s Public Investment Fund (PIF) is reported to be prepared to make an offer for the King Abdullah Financial District (KAFD), situated between downtown Riyadh and the city’s King Khalid International Airport. The offer, reported by Bloomberg citing unnamed sources, is 30 billion riyals ($7.9 billion) — the amount already spent on KAFD by the Saudi Public […]
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Jadwa Investment: Recent Saudi Stock Market Changes ‘Pave the Way’ for Saudi Arabia’s Inclusion Into MSCI Emerging Market Index
The major announcements for Saudi Arabia’s economy and society in the last few weeks related to the release of its ‘Vision 2030’ strategy have given the Kingdom a roadmap and targeted benchmarks for achieving greater economic diversification and empowering Saudi Arabia’s youth. In addition to the ‘Vision 2030’ release and cabinet changes there was “an […]
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Report: Donald Trump Set Up Four Businesses Related to a Jeddah, Saudi Arabia Hotel Project While Campaigning for President in August 2015
Republican frontrunner Donald Trump set up four companies related to a possible hotel project in Jeddah, Saudi Arabia while campaigning for president in August 2015, according to a report by BuzzFeed news, citing the candidate’s latest financial disclosure filings released on Wednesday. According to the report, on August 21, 2015, Trump became president and owner of […]
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Secretary Kerry Meets with Saudi Leaders in Jeddah Ahead of Crucial Syria Talks
Secretary of State John Kerry travelled to Jeddah, Saudi Arabia to meet with Saudi Arabia’s King Salman and other Saudi officials ahead of critical talks on Syria, according to reports. The Secretary, who also met with Crown Prince Mohammed bin Naif and Foreign Minister Adel Al-Jubeir, “discussed a range of regional issues – Yemen, Libya, […]
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Difficult Times for the Saudi Binladin Group
The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]
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The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today. “These rules were implemented with the aim of raising the bar in relation to investing […]
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Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months. McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]
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Deputy Crown Prince Mohammed bin Salman Opens Up on Personal History; ‘Vision for the Kingdom of Saudi Arabia’
In his second exclusive and wide-ranging interview with Bloomberg, Saudi Arabia’s deputy crown prince, chair of the Council of Economic and Development Affairs (CEDA), and minister of defense opened up on his rise to power, his initial struggles and ultimate acceptance under the late King Abdullah, and his fondness for Winston Churchill and Sun Tzu’s The […]
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As President Obama Heads to Saudi Arabia, Economic Cooperation and Enhanced Bi-Lateral Security Will be on Agenda
As President Obama heads to Saudi Arabia next week to meet with HRH King Salman and attend a GCC summit, familiar topics as well as new issues will be on the agenda for the President’s 3rd official visit to Saudi Arabia and second meeting with King Salman since September. Along with long-standing regional and security concerns that require U.S.-Saudi […]
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In Egypt, Saudi Arabia’s King Salman Reaffirms Commitment to Bi-Lateral Ties
In what is being hailed as a landmark visit, Saudi Arabia’s King Salman arrived in Egypt to re-affirm Saudi-Egyptian ties and engage a critical regional ally on key foreign policy concerns. King Salman, who was also accompanied by Deputy Crown Prince Mohammed bin Salman and dozens of Saudi officials and leaders, including 14 ministers, was received […]
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Austin Returns to Israel With a Tougher Message and Lessons Learned
But his message has become more blunt: Israel, Mr. Austin recently predicted, could face “strategic defeat” that would leave the country less secure if it does not do more to protect civilians. The warning is one that Mr. Austin is well equipped to deliver. The retired four-star general brings a wealth of military experience in combat, including urban warfare. Early U.S. efforts to target the Taliban and insurgents in Afghanistan in 2004. The troop “surge” in Iraq in 2007. The planning to pry Mosul, Iraq, from the hands of the Islamic State in 2016. Mr. Austin was involved in all of that.
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Thai teen Boriboonsub wins Saudi Open for third title in three weeks
Thailand's Denwit Boriboonsub won his first Asian Tour title and his third event in as many weeks when the 19-year-old beat Sweden's Henrik Stenson by three strokes at the season-ending Saudi Open on Sunday.
Boriboonsub had won the Aramco Invitational two weeks ago on the Asian Development Tour and followed it up with victory at the Thailand Open last week.
He shared the lead at the Riyadh Golf Club after two rounds but lost top spot to compatriot Phachara Khongwatmai on Saturday.
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Populous unveils designs for Saudi esports centre
Populous has revealed designs for an esports venue in Saudi Arabia with capacity for more than 5,000 spectatorsThe venue, which was unveiled last week by the London-based firm, forms one part of the multi-billion pound Qiddiya entertainment ‘giga-project’ under development near Riyadh, the Saudi capital.
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As Saudi Arabia gives shape to NEOM, Enowa is out to power it
NEOM aims to be home to the world’s first large-scale 100 per cent renewable energy system by 2030, providing abundant, affordable energy to residents and industries. It’s an interesting challenge because, on a personal level, if you join the team with an attitude of ‘I’ll just bring my experience and that’s going to be enough’, it’s probably not going to work. Because while a number of us have worked on legacy systems, that skillset alone is not going to allow us to build a new renewable system from scratch.
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Saudi Central Bank Introduces New BNPL Regulatory Framework
The Saudi Central Bank has now issued new ‘Rules for Regulating Buy Now Pay Later (BNPL) Companies‘ as part of its role in supervising and controlling the BNPL companies. This decision reflects SAMA’s continuing efforts to develop the financial sector in the region and empower the fintech sector in particular. Under the new rules, the BNPL activity is defined as any type of financing that enables a consumer to purchase goods or services without a term cost payable by the consumer.
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How a Saudi charity used AI to raise millions for orphans last Ramadan
For our past digital donation drives, we’ve run campaigns during key seasonal moments — think Ramadan or Hajj — turning them off when those moments are over. Results showed us that not only were those campaigns not fulfilling their full potential, but we were also missing out on reaching people who wanted to help at other key moments throughout the year. We had to up our marketing game to find donors consistently and on a wider scale.
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Red Sea Shipping Attacks: Divisions Hinder US Efforts to Counter Yemen Houthis
US efforts to counter Yemen’s Houthi rebels as they attack ships in one of the world’s most important waterways are hitting a major roadblock because of disagreements among Washington’s Arab allies, according to people familiar with the matter. Two of the most crucial actors involved in Yemen’s long-running civil war, Saudi Arabia and the United Arab Emirates, support competing factions against the Houthis and favor differing ways of dealing with them. Their diverging stances are complicating the US-led attempt to forge a coherent response to the Iran-backed group, the people said.
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Saudi Thriller ‘Mandoob’ Beats ‘Wonka’ to Score Record Local Opening
Saudi Arabian thriller “Mandoob,” about a struggling man who becomes an illegal booze runner, beat “Wonka” over the weekend to top the Saudi box office chart while also scoring the biggest opening to date for a local film in the territory.
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Goldman cuts 2024 Brent price forecast on strong US supply
Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices. "We still look for range-bound prices and only moderate price volatility in 2024. Elevated spare capacity to handle tightening shocks should limit upside price moves," its analysts said in a note dated Sunday.
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Saudi Thriller ‘Night Courier’ Beats ‘Wonka’ With Record Local Opening
Saudi director Ali Kalthami’s thriller Night Courier (Mandoob) has posted a record-breaking opening at home, generating 114,000 admissions for a $1.58 million gross to beat Warner Bros. blockbuster Wonka.
Front Row Arabia, the joint distribution label of Front Row Filmed Entertainment and local exhibitor muvi Cinemas, launched the title theatrically in all of Saudi Arabia’s 63 cinema theatres on 121 screens on December 14.
Wonka, which also opened in Saudi on December 14, drew roughly 38,000 spectators for a $616,000 gross to come in second, followed by Studio Ghibli’s The Boy And The Heron.
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