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New ‘Economics in Society’ Report Examines Role of Misperceptions on Women Employment Rates in Saudi Arabia
A new research report published by the UBS International Center of Economics in Society examines how social norms may affect employment rates for women in Saudi Arabia, providing evidence “that most Saudi men privately believe that women should be allowed to work, but that they underestimate the extent to which other men share their views.” […]
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Saudi Economy to Grow at 2% This Year, Government Posts Large 1Q Surplus
Saudi Arabia’s central bank governor, Ahmed Al-Kholifey, told Reuters in an interview that he expects economic growth to be “no less than 2 percent” in 2019. The comments from Al-Kholifey comes as a separate quarterly Reuters poll of economists found lowered expectations for growth in Arab Gulf economies this year. Gross domestic product in Saudi Arabia, […]
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Al-Falih Expects Strong Demand for Aramco’s First-Ever Bond Issue
Saudi Arabia expects strong demand for Saudi Aramco’s first-ever bond issue, which is expected to close on Wednesday. Demand for the bonds could surpass $30 billion, Energy Minister Khalid Al-Falih said while speaking at the inaugural Gulf Intelligence Saudi Arabia Energy Forum in Riyadh on Monday. Others estimate it could top $40 billion, more than four […]
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Saudi Arabia plans 2.6 GW solar park near Mecca
Saudi Arabia is set to issue tenders for 2.6 GW Mecca solar project in 2019, according to reports. The Faisaliah Solar Power Project is planned to be developed in several stages by the Saudi Ministry of Energy, Industry and Mineral Resources and the Development Authority of Mecca. Construction work on the project will begin this year, […]
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King Salman Announces $23 Billion for Four Entertainment Projects Including the ‘World’s Biggest Park’ in Riyadh
Saudi Arabia is planning to build the “world’s biggest park” as part of a $22.9bn project that aims to create large open green areas in Riyadh while creating thousands of new jobs, according to the Saudi Press Agency and other news outlets. The project consists of four entertainment projects in Riyadh, which are currently in the design phase, according […]
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WATCH: Adidas Ultraboost Ad Features Young Saudi Women Combatting Fitness Stereotypes
A new inspirational advertisement for Adidas’ popular Ultraboost shoe line features three young Saudi women discussing stereotypes they face and how they overcome them. The ad for Ultraboost trainers features fitness instructor and modest sportswear designer Lojain Alrefae running along the waterfront in Jeddah; Saudi mountaineer Raha Moharrak climbing the rocky ranges near Jeddah and football campaigner […]
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Saudi Housing Sector to See $21 Billion in Investment in 2019; Home Ownership Growing 6-7 Percent Annually – Minister
Saudi Arabia’s Minister of Housing Majed al-Hogail said he expects investments in the real estate financing sector to reach between 60 billion Saudi riyals and 80 billion riyals ($21.33 billion) in 2019, according to Reuters on the sidelines of a housing conference in Riyadh. The minister told Reuters that real estate financing for January hit 4.7 […]
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Kushner, Crown Prince Mohammed bin Salman Meet in Riyadh
President Donald Trump’s senior adviser and son-in-law, Jared Kushner, met with King Salman and Crown Prince Mohammed bin Salman yesterday in Riyadh, the first visit by Kushner since the killing of Jamal Khashoggi. “Building on previous conversations, they discussed increasing cooperation between the United States and Saudi Arabia, and the Trump Administration’s efforts to facilitate […]
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Saudi Arabia Names New Ambassador to United States: Princess Reema bint Bandar
Saudi Arabia has named Princess Reema bint Bandar bin Sultan bin Abdulaziz Al Saud as the 11th Saudi Ambassador to the United States, making her the first woman ever to serve in the role. Princess Reema will take over the role from Prince Khalid bin Salman, who has been appointed as the country’s deputy defense […]
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Crown Prince Mohammed bin Salman Lays Founding Stone on Future Saudi Tourism Spot Al Ula
Saudi Arabia’s Crown Prince Mohammed bin Salman launched more tourism projects in Al-Ula, Saudi Arabia, including a resort designed by a renowned French architect Jean Nouvel, and a nature reserve. Nouvel will build a resort in the mountains of Al-Ula as part of a plan launched on Sunday night “to transform the home of ancient civilizations into […]
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SDAIA amends regulation for transferring personal data to outside Saudi Arabia
The Saudi Data and Artificial Intelligence Authority (SDAIA) announced that amendments have been made to the regulation for transferring personal data to outside the Kingdom. This is aimed at clarifying the detailed provisions and procedures related to transferring personal data to outside the Kingdom in a way that ensures the availability of an appropriate level of protection for personal data and the privacy of its owners in other countries. This is in view of the fact that SDAIA is the competent authority supervising the implementation of the provisions of the law and regulations.
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Arabian Mills’ $271M Saudi IPO sells out in an hour
The flour milling company plans to raise as much as $271 million by selling a 30% stake, or about 15.4 million shares, on the local Saudi stock exchange. Institutional investors covered the order book throughout the price range of 62 riyals to 66 riyals ($16.50 to $17.60) per share, according to people familiar with the matter, who asked not to be identified discussing private information.
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Saudi Crown Prince discusses situation in Palestine with Erdogan, al-Sisi
During his phone conversation with Erdogan, MBS “affirmed the Kingdom of Saudi Arabia’s keenness to unite Arab and Islamic efforts to support the Palestinian brotherly people in addressing the brutal aggression imposed by the Israeli occupation forces and the need to intensify efforts in order to stop the ongoing Israeli aggressions and violations against the Palestinian people.”
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Smalling set to join Saudi Pro League club Al-Fayha
Former England and Manchester United defender Chris Smalling is on the brink of joining Saudi Pro League club Al-Fayha. Smalling is poised to be a substitute for Roma on Sunday evening when his current club play against Juventus in Serie A.
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Saudi camel leather market valued at $98.7 million annually
The Saudi Fashion Commission highlighted the cultural dimension and national heritage related to camel products and the extent of their benefits in the world of contemporary fashion. The current potential of the camel leather market in Saudi Arabia stood at approximately $98.7 million annually. Based on the current camel population in Saudi Arabia, 2,800 tons of camel hair can be produced annually worth $2 million, it was revealed in a research paper titled “Camels... contemporary fashion,” the Saudi Press Agency reported.
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Ronaldo raves about life in Saudi Arabia and attractions like Red Sea, AlUla
Cristiano Ronaldo said adapting to Saudi Arabia was easy for him and his family as the football star gushed about his life in the Kingdom and its many attractions such as the Red Sea and the ancient Arabic oasis, AlUla. “To be honest, I am really happy to be there [Saudi Arabia],” Ronaldo, who plays for the Saudi football club, Al Nassr, said in an interview with former Portuguese footballer, Rio Ferdinand.
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Israel’s military says six hostages ‘brutally murdered’ in Gaza, including Israeli-American Goldberg-Polin
Israeli soldiers found the six bodies in tunnels under the enclave, according to the military. The hostages were “brutally murdered by Hamas terrorists, a short while before we reached them,” Israel Defense Forces (IDF) spokesperson Rear Adm. Daniel Hagari said in a briefing Sunday. The development has sparked protests across Israel, with fresh public anger directed at Israeli Prime Minister Benjamin Netanyahu and his cabinet for failing to secure a hostage deal. Israel’s largest trade union has also called for a nationwide strike starting Monday.
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Saudi Foreign Minister calls for intensifying Arab-Islamic efforts to stop Israeli violations
Saudi Foreign Minister Prince Faisal bin Farhan discussed the latest developments on the Palestinian issue and efforts to enhance joint Arab and Islamic actions aimed at restoring the legitimate rights of Palestine and its people, stopping Israeli violations, and supporting the establishment of an independent Palestinian state.
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Saudi Arabia Launches a $266 Million Boulevard Business Park in Riyadh
The Boulevard Business Park, unveiled by the General Entertainment Authority (GEA), is a visionary development within the Boulevard City and is designed to uplift Riyadh’s artistic and entrepreneurial landscape even further and propel Saudi Arabia’s flourishing creative economy. With an investment of over $266 million (SAR 1 billion), this pioneering project represents the first phase of an ambitious urban revitalization plan for the Boulevard District.
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Hail Governor Receives Torch of Saudi Games 2024
Governor of Hail region Prince Abdulaziz bin Saad bin Abdulaziz today received the torch of the third edition of the Saudi Games 2024 as it embarked on its promotional journey for the Kingdom's largest national sporting event. This year's torch tour is crucial in promoting the Saudi Games 2024. It aims to explore key cultural, historical, and tourist sites, covering 47 famous locations across the Kingdom. Accompanied by notable champions and influencers recognized for their significant contributions and accomplishments, local communities are joining in the festivities of the Kingdom's most prominent national sports event.
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