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FIFA Series 2024 Friendly Matches Kick Off in Jeddah
The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]
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NYT Reports on Proposed $40B Saudi AI Investment
The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.
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U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”
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OPEC and IEA Agree on Something
The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA), two of the leading global energy forecasters, have long disagreed on demand growth. They agree on this however.
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Saudi Non-Oil Activity reaches 50% of GDP as Economy Continues to Diversify
Non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever, the Ministry of Economy and Planning said on Thursday. The total non-oil economy was worth $453 billion at constant prices, driven by continued growth in investment, consumption and exports.
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Already a Riyadh Centerpiece, KAFD CEO Gautam Sashittal Discusses Future Plans
Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company (KAFD DMC), sits with Imogene Lillywhite of Zawya for an extensive interview outlining what is next for the exciting city hub.
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Al-Hilal’s Streak and Saudi Professional League Spending
Saudi Pro League league standings leader, Al-Hilal, just notched it’s 28th straight win to break the world record for most consecutive wins by a top-flight team.
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Saudi Arabia was The Second-Largest Arms Importer in the World from 2019 to 2023 — SIPRI DATA
Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of all imports, according to recent data from the Stockholm International Peace Research Institute’s (SIPRI).
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Gidori, a New Private Golf-Focused Community and Destination at NEOM, Announced with A Focus on Lush Landscaping
The Board of Directors of NEOM has announced Gidori – an exclusive private golf community set amidst the breathtaking coastal hills of the Gulf of Aqaba – as the latest addition to NEOM, the evolving regional development in northwest Saudi Arabia, according to a press release.
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Ramadan Fasting Projected to Begin March 11, Muslims Worldwide Prepare
Based on the Islamic lunar calendar, the dates for Ramadan move through the year which can result in significantly different daily fasting periods depending on where you live. Since there are 12 lunar months superimposed over 12 solar months, Ramadan “moves back” about 11 days per solar year.
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MUST-READS
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$410 billion in investments propel Saudi Arabia’s mining sector growth
Saudi Arabia’s mining sector is undergoing a significant transformation and is gearing up to become one of the key pillars of economic diversification efforts outlined in Vision 2030. The latest report from the National Industrial and Mining Information Center reveals that Saudi Arabia issued 152 industrial licenses in January alone, bringing the total number of operating and under-construction factories in the Kingdom to 11,672. These factories represent a combined investment of SAR1.539 trillion ($410.4 billion).
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Saudi Arabia plans to tap Islamic bond market to raise funding for Neom
Saudi Arabia is looking to raise over a billion dollars for the Neom megacity project from the sale of Islamic bonds, following reports that ambitions for the desert project have been scaled back. Neom is looking into a plan to raise as much as $1.3 billion from Islamic bonds, or sukuk, as it looks to shore up funding for the $1.5 trillion megacity project, according to a Bloomberg report.
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Saudi Arabia’s private sector workers grow to 11.2M in March
The total number of workers in the Saudi private sector reached 11.24 million in March 2024, the National Labor Observatory said. The total number of nationals working in private-sector entities stood at 2.37 million in the same month, of which male and female workers accounted for 1.39 million and 975,700, respectively. Meanwhile, the number of expats working in the private sector reached 8.87 million.
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Saudi Arabia’s Barn’s reaches 700 stores ahead of planned global expansion
Alongside further expansion in Saudi Arabia – the largest branded coffee shop market in the Middle East – Barn’s is also expected to open its first international store this year. In December 2023, a Barn’s official told World Coffee Portal that the chain would make its overseas debut in Bahrain during the first quarter of 2024.
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This Lava Tube in Saudi Arabia Has Been a Human Refuge for 7,000 Years
When ancient humans pushed into the Arabian Peninsula, they found a world marked by magma. Swaths of it once erupted from volcanoes, leaving a landscape of craters and frozen lava flows. Many of these seemingly otherworldly volcanic fields are adorned with archaeological remains — from small dwellings to colossal animal-corralling structures called kites — that date back millenniums. Little is known about the identities and lives of those humans. But a study published Wednesday in the journal PLOS One has revealed that their occupation of this volcanic realm extended underground. Archaeologists at a site in northwestern Saudi Arabia have excavated a lava tube — the naturally hollowed-out subterranean remnant of a lava flow.
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An uneasy alliance of Arab states helped defend Israel from Iran. Their resolve may soon be tested.
“Those Arab countries are in a very critical situation,” said Oraib Al Rantawi, director of the Al Quds Center for Political Studies, a think tank based in Jordan’s capital, Amman. “There is no easy position to take for all of them, especially Jordan, which for geopolitical reasons has found itself trapped between two troublemakers — Iran and Israel.”
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Saudi Energy Giant ACWA Power Secures $80 Million Loan From Bank Of China For Uzbekistan Solar Drive
Saudi-based ACWA Power recognized as the world’s largest private water desalination company and a frontrunner in energy transition with a focus on green hydrogen, secured an equity bridge loan from the Bank of China amounting to $80 million to fund its Tashkent 200MW Solar PV and 500MWh BESS project in Uzbekistan.
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Mobile esports reaches new heights in 2024 with a boost from Saudi Arabian investment
It’s shaping up to be a banner year for the mobile esports industry, with an unprecedented amount of activity in the space in 2024. The secret to all this growth? A healthy amount of investment from Saudi Arabia. Mobile esports activity has been picking up gradually since 2021, but 2024 could be one of the most lucrative years yet for the esports teams and players participating in popular mobile games such as “PUBG Mobile” and “Mobile Legends: Bang Bang” (MLBB).
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Saudi Arabia Moves Closer to $1 Billion Barrick Pakistan Deal
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 said.
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Iran-Israel conflict poses an existential risk for Lebanon, unless Biden can intervene
Iran's failed attack on Israel may have sealed Lebanon's fate. Israel undoubtedly has come out the winner in the latest exchange, having killed several key commanders who are said to have played a role in directing Iran's regional network of Arab militias to help Hamas fight Israel in Gaza and help Hezbollah prepare for a potential Israeli attack.
Israel suffered no fatalities, few injuries and very little damage in the Iranian barrage of over 300 projectiles aimed at military facilities. The US estimates about 140 of the drones and missiles failed due to malfunctions. US forces downed most of the remaining 160 projectiles, with the UK, France, Jordan and Israel's own Iron Dome antimissile system also involved.
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