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  • Saudi, Turkish, Pakistani tripartite committee convenes for defense cooperation talks

    The second meeting of the Saudi-Turkish-Pakistani tripartite committee was held in Islamabad, Pakistan, to discuss defense cooperation and ways to enhance it. The meeting was attended by Saudi Assistant Minister of Defense Eng. Talal Al-Otaibi, Chief of General Staff of the Pakistani Army Gen. Muhammad Owais, and Turkish Deputy Minister of Defense Jalal Sami Tawfik.

  • As Davos crowd gathers, governments urged to rein in ‘billionaire class’

    The combined fortunes of the world's five richest men have more than doubled to $869 billion since 2020 while five billion people have been made poorer, anti-poverty group Oxfam said.

    An Oxfam report, which comes as business elites gather this week for the annual World Economic Forum (WEF) meeting in Davos, found that a billionaire is now either running, or is the main shareholder of, 7 out of 10 of the world's biggest companies.

  • Israel pounds targets across Gaza, awaits Hamas word on three hostages

    Israeli forces bombarded targets in the south, north and centre of Gaza on Monday ahead of an expected announcement by Hamas on the fate of three Israelis held hostage by the Palestinian militant group shown in a video clip at the weekend.

    Twelve Palestinians were killed and others wounded in an Israeli airstrike overnight on a house in Gaza City in the north, health officials said, while plumes of smoke rose above the main southern city of Khan Younis shelled by Israeli tanks.

  • US says it shot down anti-ship cruise missile from Houthi-controlled areas

    U.S. fighter aircraft shot down an anti-ship cruise missile fired from Houthi militant areas of Yemen toward a U.S. destroyer operating in the Southern Red Sea, the U.S. military said on Sunday.

    The midair interception is the latest incident in the Red Sea where the Houthis have been attacking international shipping in what they say is a campaign to support Palestinians under seige from Israeli forces in Gaza.

  • Saudi Arabia unveils stunning new Prince Mohammad bin Salman Stadium in Qiddiya City amid 2034 World Cup bid

    The multi-use venue, which is situated in Qiddiya City, is set to provide the backdrop to some of the region’s biggest sports, entertainment and cultural events. The impressive construction is expected to attract visitors from all over the world while revolutionising the “traditional stadium experience with its immersive design and unique technological features” that puts “spectators at the centre of the show”.  

     

  • Mancini laments lack of games for some players after Saudi spending spree

    Speaking on the eve of the match in Qatar, Mancini said he was happy with pre-tournament preparations but noted that not all of his players were getting as much action with their clubs as he would like. "Maybe we have problems with some Saudi players because they don't play many games, and this is the problem," he said when asked about the country's big-spending strategy. "We have many players who often don't play in their clubs."

  • Saudi to issue 30 mining permits in 2024

    Saudi Arabia intends to issue 30 new mining permits in 2024 as part of a strategy to attract local and foreign investment to its lucrative minerals industry, a senior Saudi official was reported on Monday as saying. Industry and Mineral Resources Ministry Undersecretary Khalid Al-Mudaifer told the Saudi daily Aliqtisadia that the world’s dominant oil exporter is pushing ahead with plans to create a metals bourse, buoyed by sharp growth in the industry in the past years.

  • Saudi growth sources changing as private sector focuses on diversification: Alibrahim

    In a program on CNBC Arabia, Alibrahim elaborated on how the expansion of non-oil activities was previously limited to specific sectors but has now diversified to include emerging sources such as financial services, communications, tourism, and other sectors.   The Public Investment Fund (PIF) and the National Development Fund (NDF) are currently functioning independently of government support, and support for these funds is anticipated to diminish in the future, the minister said.   Alibrahim highlighted that the private sector's contribution to the GDP was less than 40% before the implementation of Vision 2030, and it currently stands at the mid-40%, aiming to achieve 65%.

  • Saudi Minister of Foreign Affairs Arrives in Davos at the Head of the Kingdom’s Delegation to World Economic Forum 2024

    Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah arrived today in the Swiss city of Davos at the head of the Saudi delegation to the annual meeting of the World Economic Forum. The Saudi delegation is bound to discuss the most prominent regional and international challenges, and ways to address them through enhanced international dialogue and cooperation, support for economic integration, resorting to sustainable resources, and taking advantage of innovation and technical solutions, as well as by exploring the opportunities offered by emerging technologies, and their impact on the policy- and decision-making process in the international community.

  • Saudi Arabia unveils major plan to develop waste sector

    Saudi Arabia’s Ministry of Environment, Water, and Agriculture has unveiled a major plan to develop the waste sector in the Kingdom. Under this initiative, the Saudi ministry aims to take its recycli Read more at: https://www.gccbusinessnews.com/saudi-arabia-to-develop-waste-sector/