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  • Government debt instruments set to debut on Saudi Exchange

    Saudi government-issued debt instruments worth SR5.17 billion ($1.37 billion) are set to be listed on the Kingdom’s stock exchange, following the latter’s approval of the Ministry of Finance’s request. The breakdown of this valuation includes two distinct offerings: the first, Issuance Number 10-01-2024, amounts to SR2.82 billion, and the second, Issuance Number 15-01-2024, is valued at SR2.35 billion. Saudi Exchange said in a statement that this approval is in accordance with the established listing rules, and the trading is scheduled to commence on Jan. 22, 2024.

  • Newcastle chairman faces £58m lawsuit for ‘carrying out’ malicious instructions

    Newcastle United’s chairman, Yasir al-Rumayyan, is facing a £58m lawsuit for allegedly “having carried out the instructions” of Saudi Arabia’s crown prince, Mohammad bin Salman, with “malicious intent”, it has been reported. The claims, which are said to be made in legal papers sent to Rumayyan at several locations, including at St James’ Park, also allege that he acted with the aim of “harming, silencing and ultimately destroying” the family of Dr Saad Aljabri, the kingdom’s former intelligence chief. According to the Athletic, the papers have asked a court for Rumayyan, who is also the chairman of LIV Golf, to be added to an existing case, and for a new claim to be brought against him and the others.

  • AlUla International Airport’s New Terminal, Saudi Arabia

    The Royal Commission for AlUla (RCU) launched the AlUla airport development project in August 2019. The first phase of the project was completed in the same year while the second phase was completed in July 2020, which increased the airport’s passenger handling capacity from 100,000 to 400,000 a year. In October 2023, the RCU unveiled its plans for the construction of a new airport terminal to increase the annual passenger capacity from 400,000 to six million while also enhancing the passenger experience with luxurious amenities and massive retail spaces.

  • Magic Leap secures $590M from Saudi wealth fund

    This week, Magic Leap secured $590 million from Saudi Arabia’s sovereign wealth fund, which had become the company’s majority owner in late 2022. The debt funding comes as the Plantation-based company faces new competition, with Apple’s upcoming Vision Pro headset, expected to launch next month, and The Meta Quest 3. In total, the company has raised about $4.5 billion over the years. Magic Leap has also recently undergone changes at the top. In November, Ross Rosenberg took over as CEO of the company after Peggy Johnson stepped down from the position.

  • Former Saudi ambassador: Solution in Gaza ‘doesn’t require magic’

    Prince Turki al Faisal, a former Saudi diplomat and intelligence chief, tells Christiane Amanpour the first step to peace is to "stop the killing."

  • Ballon d’Or winner Benzema considering Saudi exit – sources

    The club are said to be reluctant to let their prized summer acquisition leave either on loan or in a permanent deal. However, fellow Saudi Pro League recruit Jordan Henderson stands as an example of a player who has successfully negotiated a release from his contract -- in his case, with Al Ettifaq -- to force a move away from the Gulf state. Al Ittihad have struggled this season and are seventh in the table, 25 points behind leaders Al Hilal having won the title last season. Benzema, who has 2½ years remaining on his contract, has been criticised by the Saudi media for his performances.

  • Muvi Leads Rapidly Growing Film Market in Saudi Arabia

    Following the lift of Saudi Arabia’s 35-year theatrical ban six years ago, Muvi Cinemas has established itself as the leading theatrical exhibitor in the kingdom and the fastest-growing theatrical market globally. The homegrown cinema chain, which launched in 2019, is already Saudi Arabia’s leader in both screen and box-office share, boasting 205 screens across 21 locations in 10 different cities. Fifty more screens in six locations are scheduled to open in 2024. Muvi’s domination of the cinematic landscape is particularly impressive, given that Saudi Arabia’s very first sanctioned movie release after restrictions were lifted was “Black Panther,” in April 2018, followed about a week later by “Avengers: Infinity War.” Prior to this, cinemas did not exist in Saudi Arabia between 1983 and 2018, except for one theater opening in 2005 for educational titles only.

  • Saudi Arabia interested in Floyd Mayweather vs Manny Pacquiao rematch

    In a surprising twist, Saudi Arabia has expressed keen interest in hosting the much-anticipated rematch between Floyd Mayweather and Manny Pacquiao, reported by WBN. The initial plans for “MayPac II” were revealed by WBN in 2020, but the COVID-19 pandemic thwarted any chances of the bout taking place in the Middle East. The fight was subsequently put on hold as Pacquiao continued his professional career.

  • Iran Strikes Showcase High-Tech Khaibar-Shekan Missile Designed to Hit Israel

    A string of Iranian cross-border missile attacks showcased a new part of the Islamic Republic’s long-range arsenal for the first time with a weapon potentially capable of hitting Israel directly. The Islamic Revolutionary Guard Corps launched the precision-guided Khaibar-Shekan, or Khaibar-Breaker, ballistic missile this week in a 1,300 kilometer (800 mile) strike on ISIS in Syria from southwestern Iran, the Tasnim news agency reported. That would make it the farthest such attack in the IRGC’s history.

  • Rayan Alyusufi joins The 966 to discuss the Kingdom’s public diplomacy, ‘sharp power,’ and evolution

    The 966 speaks with Rayan Alyusufi, a young Saudi researcher in public diplomacy and international communication to discuss the Kingdom’s public diplomacy, "sharp power," and evolution of Saudi as an emerging diplomatic player. Rayan is a PHD Candidate at Bournemouth University in the United Kingdom. Recently, Rayan wrote a blog post entitled "The Transformation of Saudi Arabia’s Public Diplomacy" for the University of Southern California’s Center for Public Diplomacy website that discussed Saudi Arabia's "significant influence in the international arena."