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Wa’ed Ventures, the $500 million venture capital fund wholly owned by Aramco, announces earmarking $100 million for early-stage AI investments, a bold move to support positioning the Kingdom as a global AI hub.

Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.

The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year in its latest World Economic Outlook Report released on Tuesday.

Saudi Minister of Finance and Chair of the International Monetary and Financial Committee (IMFC), Mohammed Aljadaan, participated in Macro Week at the Peterson Institute for International Economics (PIIE), held on October 21, 2024 on the sidelines of the 2024 IMF and World Bank week.