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Crown Prince Mohammed bin Naif Joins Twitter
Following the lead of King Salman and other top Saudi government officials, Saudi Arabia’s Crown Prince has joined the social microblogging website Twitter using the handle @M_Naif_Alsaud. The Crown Prince chairs the Council of Political and Security Affairs (CPSA) and is Minister of Interior of Saudi Arabia. His first tweet, sent on April 5, 2016 […]
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Saudi Arabia was world’s third largest military spender in 2015, surpassing Russia
Saudi Arabia surpassed Russia in military spending for 2015 to be the world’s third largest spender on defense, according to a new report by the Stockholm International Peace Research Institute (SIPRI). The United States retained its top position globally in total military spending in 2015, accounting for almost one-third of all military spending globally. The […]
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Saudi Arabia taking ‘unprecedented hands-on role in housing finance and development’
Saudi Arabia’s housing minister Majed al-Hogail gave an interview with Bloomberg last week in which he discussed the government’s plans to create its own development company and start a mortgage-guarantee fund to encourage banks to increase lending for Saudis. “‘We are looking to improve the productivity of the local developers’ but also trying to attract international […]
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Throwback: Photos of King Salman at King Saud University, 40 Years On
Recently released photos by the Saudi Press Agency (SPA) show King Salman at the King Saud University roughly 40 years ago, as the then-prince assisted in shaping the Riyadh-based University to be what it is today. King Saud University (KSU) is billed as “the premier institution of higher education in the Kingdom of Saudi Arabia. Prince […]
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New Homeland Security Decision Allows Saudi Students to Stay in U.S. for 3 Years By Getting On the Job Training
The United States Department of Homeland Security (DHS) recently published a new rule allowing F1 students the opportunity to stay in the country longer “by getting training on the job at some companies for a period of 36 months,” according to a report in Arab News and information posted to the DHS website. According to DHS, […]
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What Will Be Saudi Arabia’s Next Tourist Destination?
Saudi Arabia’s King Abdullah Economic City (KAEC) attracted more than 100,000 visitors last year, a sign that the planned mega city about 100 miles north of Jeddah on the Red Sea might become Saudi Arabia’s next domestic tourist destination. Although Saudi citizens typically flock to Dubai, Bahrain, or elsewhere abroad for leisure trips, that might […]
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In Bid to Boost Transparency, Saudi Regulators Require International Banks to Disclose Financial Statements
Saudi Arabia’s Capital Markets Authority (CMA) is instructing international banks to publicly disclose financial statements for the first time as the kingdom seeks to boost transparency, according to a report in Bloomberg. The Bloomberg report says that companies under the regulation of the CMA in Saudi Arabia must publish the financial information on their websites […]
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Surge in Flights from Saudi Airports as Kingdom’s Aviation Sector Booms
Saudi Arabia’s airports have seen a “substantial growth in international traffic” as the number of international flight services from the Kingdom’s airport surges 50% since last year. The number of international flight services from the domestic airports jumped by 51.5 percent to 26,361 at the end of 2015 from 17,405 in 2014, according to a […]
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Construction Payment Delays Draw International Attention, Report Says
Foreign governments are pressing both government authorities and company executives in Saudi Arabia “to ensure that local construction firms make delayed salary payments to thousands of workers, a sign of pressure on the kingdom’s economy due to low oil prices,” according to a Reuters report. Construction firms in Saudi Arabia are have been squeezed as […]
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Saudi Arabia Eyes Privatization of Power, Opening Opportunities for International Power Companies
Saudi Arabia is heading towards privatizing the electricity sector and “shifting towards solar and alternative energy in the framework of its efforts to reduce the use of fossil fuels in production rates,” according to a report in Asharq Al-Awsat citing “informed sources.” The Saudi Electricity Company plans to “split into four units with local and […]
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Club World Cup set for June-July 2025, new Intercontinental Cup in 2024 – FIFA
FIFA's revamped Club World Cup planned for 2025 and set to feature 32 teams will be played from June 15 to July 13, while a new Intercontinental Cup will be played annually from next year, Gianni Infantino, the head of world soccer's governing body, said on Sunday. The announcement drew criticism from the global players' union FIFPro as well as the World Leagues Forum (WLF), an organisation representing 44 major professional leagues that is chaired by Premier League chief Richard Masters.
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In Israel, US defence chief to look to next phase of Gaza war
U.S. Defense Secretary Lloyd Austin arrived in Israel on Monday for talks expected to focus on Israel's eventual end to high intensity war in Gaza and its transition to a more limited, focused conflict, officials say.
For Austin, the trip is a delicate balancing act. He has steadfastly supported Israel's right defend itself following Palestinian militant group Hamas' surprise Oct. 7 attacks. But he has also become increasingly vocal about the plight of civilians in Gaza as Israeli strikes drive up casualties.
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S.O.S. signs found on killed hostages hideout, Israeli military says
Signs reading "S.O.S." and "help, three hostages" in Hebrew were found on the walls of a Gaza building where three Israeli hostages had been hiding before they were mistakenly killed, Israel's military said on Sunday.
The military distributed photographs of the white cloth signs written in red, likely with leftover food. They were hung on a building about 200 meters from where the hostages were shot, military spokesman Rear Admiral Daniel Hagari said.
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As irregular warfare comes to a crossroads, Congress chips in
Many military observers are concerned that the military’s ability to wage irregular warfare—like working with combatants not formally associated with nation-states, skills honed during more than a decade of wars in the Middle East—will be discarded as the Pentagon readies itself to take on great-power states such as China. That concern reflects debate about how to revamp U.S. irregular-warfare capabilities and training—and even whether such capabilities are still needed. The Army, for example, is proposing to cut its special-operations forces by up to 20 percent.
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Saudi PE Firm Jadwa Eyes $530 Million Fund for Mideast Deals
Saudi private equity firm Jadwa Investment Co. is planning to raise as much as 2 billion riyals ($530 million) for a new fund to boost dealmaking in fast-growing oil exporting countries in the Middle East.
The firm is raising its first blind pool fund with a view to taking significant minority stakes in as many as 12 companies over the next three years, Jadwa said in a statement to Bloomberg. It will target investments in Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman, an economic bloc known as the Gulf Cooperation Council, of GCC.
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Saudi shopping and BNPL platform Tamara tops $1B valuation in $340M Series C funding
Saudi asset manager and financial institution SNB Capital and Sanabil Investments, a wholly-owned company by Saudi’s sovereign wealth fund Public Investment Fund (PIF), led the Series C round. Other backers include Shorooq Partners, Pinnacle Capital, Impulse and others, joining existing investors such as Checkout.com. The round, composed of primary capital and a transaction of some secondary shares, is among the largest investments in a fintech in the region.
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Shipping firms to avoid Suez Canal as Red Sea attacks increase
Two major freight firms including MSC, the world's biggest container shipping line, on Saturday said they would avoid the Suez Canal as Houthi militants in Yemen stepped up their assaults on commercial vessels in the Red Sea. Yemen's Iranian-backed Houthi movement has been attacking vessels in response to the Gaza war on a route that allows East-West trade, especially of oil, to use the Suez Canal to save the time and expense of circumnavigating Africa. War risk insurance premiums have risen as a result.
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For Kuwait’s new emir, Saudi ties are seen as key
Sheikh Meshal al-Ahmad al-Sabah was named as Kuwait's new emir on Saturday after the death of his brother Sheikh Nawaf al-Ahmad al-Sabah aged 86. Sheikh Meshal, 83, spent much of his career helping build the Gulf state's security and defence apparatus before stepping into the public eye when he became crown prince three years ago. He was thrust further into the spotlight when he was handed most of the frail Emir Sheikh Nawaf's duties in November, 2021.
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Al-Dawood: Qiddiya anticipates creation of 325000 jobs and 48 million annual visits
Abdullah Al-Dawood, managing director of the Qiddiya Investment Company, announced that the Qiddiya City is anticipated to create 325,000 jobs and attract 48 million visitors annually.
He made the remarks while addressing a dialogue session titled “Accelerated Progress in the Saudi Labor Market” at the 1st Global Labor Market Conference (GLMC) that began in Riyadh on Wednesday. Those who attended the session also included Muhammad Abu Nayyan, founder and chairman of the Board of Directors of ACWA Power; Turki Aljawini, director general of the Human Resources Development Fund (HADAF), and Nadhmi Al-Nasr, CEO of NEOM. -
Israel-Hamas fighting convulses Gaza as U.S. seeks protection of civilians
Israeli forces and Hamas battled fiercely throughout Gaza on Friday, witnesses said, suggesting Israel's ground offensive was meeting stiffer resistance as the U.S. said it expected its ally to alter a war strategy that has inflicted a huge death toll.
Residents in the small enclave reported fighting in Sheijaia, Sheikh Radwan, Zeitoun, Tuffah, and Beit Hanoun in north Gaza, east of Maghazi in central Gaza and in the centre and northern fringes of the main southern city of Khan Younis.
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