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  • Saudi EV market poised for significant growth by 2026, Petromin CEO predicts

    In an interview with Arab News at the EV Auto Show in Riyadh, Kalyana Sivagnanam, CEO of Petromin Group—a Saudi-based provider of automotive, lubricant, and EV charging solutions—indicated that EV sales could soon approach parity with internal combustion engine vehicles within the next 12 to 18 months. “By 2026/2027, you’re going to see a massive surge in the sales of electric vehicles,” Sivagnanam stated, linking this growth to rapidly changing market conditions and declining battery costs.

  • Celebrating Saudi National Day: A Time for Reflection, Progress, and Purpose

    In the two short years I've called Saudi Arabia home, I've witnessed a profound sense of national pride and passion that resonates deeply with me. Recently, I was honored to receive my Saudi premium residency. This personal milestone deepens my commitment to supporting the Kingdom’s bold objectives, such as economic diversification, sustainability, and innovation on a global scale.

  • Israel and Hezbollah trade fire after heaviest airstrikes yet

    U.N. peacekeepers in Lebanon urged immediate de-escalation as hostilities rumbled on at the Lebanese-Israeli border on Friday, following Israel's most intense airstrikes in nearly a year of conflict with the Iran-backed Hezbollah. Israel's military said on Thursday it had struck hundreds of Hezbollah rocket launchers that had been set to fire towards Israel, in what security sources in Lebanon said was the heaviest such attack since hostilities began last October.

  • Hack of Hezbollah devices exposes dark corners of Asia supply chains

    The lethal hack of Hezbollah's Asian-branded pagers and walkie-talkies has sparked an intense search for the devices' path, revealing a murky market for older technologies where buyers may have few assurances about what they are getting. While supply chains and distribution channels for higher-margin and newer products are tightly managed, that's not the case for older electronics from Asia where counterfeiting, surplus inventories and complex contract manufacturing deals can sometimes make it impossible to identify the source of a product, analysts and consultants say.

  • Device detonations reveal ‘incredible’ intelligence abilities: ex-NSA chief

    The perpetrators “had incredible ability to do targeting intelligence and to be able to actually know the numbers, know who’s got them, [and] know the periodicity upon which they’re using them,” said Paul Nakasone, the former director of the National Security Agency and four-star commander of U.S. Cyber Command.

  • Saudi Arabia targets control of Alba to bolster metals ambitions

    State-controlled Saudi Arabian Mining Co., known as Ma’aden, announced a series of deals this week involving Aluminium Bahrain B.S.C., or Alba. When those deals close, the Saudi company “hopes to be a majority shareholder in Alba,” Ma’aden chief executive officer Bob Wilt said in an interview in Riyadh. “I’m very bullish on aluminum,” Wilt said. “The energy transition doesn’t happen without aluminum, so if we want to be a critical minerals and processing hub, we’ve got to control the feedstock.”

  • Egypt PM says Saudi’s planned $5 bln investment independent of cenbank deposit

    Egypt's Prime Minister Mostafa Madbouly said on Thursday that a planned Saudi Arabian investment of $5 billion in Egypt is independent of funds the Gulf state has deposited in the country's central bank, sending bond prices higher. The country's sovereign dollar bonds rallied to fresh two-year highs. The 2059 maturity gained the most, rising 1.35 cents, to bid at 77.60 cents on the dollar by 1309 GMT, Tradeweb data showed.

  • GCC economies set for 4.4% growth in 2025, report forecasts

    Analysis by the Institute of Chartered Accountants in England and Wales attributes this projected growth to both the rebound in oil production cuts by  OPEC and the GCC’s ongoing diversification efforts. This comes as countries across the Gulf, including Saudi Arabia and the UAE, intensify diversification efforts, with the Kingdom’s General Authority for Statistics reporting a 4.9 percent increase in non-oil sector activity in the second quarter of 2024.

  • Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

    This year has witnessed a relatively favorable economic landscape for GCC countries, characterized by robust non-oil growth despite prevailing uncertainties. Nevertheless, the broader Middle East has faced challenges, with the economic repercussions of the Gaza conflict extending to its neighboring nations, according to the latest Middle East Economy Watch report from PwC Middle East.

  • Coldplay confirmed for GCC-exclusive show in Abu Dhabi

    Coldplay’s rain-soaked 2009 performance in Abu Dhabi has gone down in history as one of the country’s greatest concerts, and now, the British band is gearing up to outdo itself. The group’s record-breaking Music of the Spheres World Tour will make a stop at Zayed Sports City Stadium in Abu Dhabi on Saturday, 11 January 2025. It will be the British band’s only show in the region. Tickets to see Coldplay in Abu Dhabi go on sale very soon, and here’s how to get your hands on them.