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  • Saudi FM receives Somali counterpart in Riyadh

    Saudi Foreign Minister Prince Faisal bin Farhan received his Somali counterpart Ahmed Moalim Fiqi in Riyadh on Sunday. During the meeting, the ministers reviewed Saudi-Somali relations and discussed ways to enhance them in various fields. Regional and international developments and topics of common interest were also discussed.

  • Saudi Arabia cleared to buy over 1,000 TOW missiles by US State Department

    Saudi Arabia has requested to buy 507 TOW 2A radio frequency (RF) (BGM-71E-4B-RF) missiles (including seven ‘fly-to-buy’ missiles) and 507 TOW 2B RF (BGM-71F-3-RF) missiles (including seven ‘fly-to-buy’ missiles). The following non-Major Defense Equipment is also included in the deal: support and test equipment; simulators; generators; integration and test support; spare and repair parts; communications equipment; software; facilities and construction support; publications and technical documentation; and various aspects of engineering, logistics, technical, training and programme support.

  • High expectations, new players expected to take part in Saudi Arabia’s FII

    “We see some new big players coming to FII for the first time, and these people are the tech guys. So, you see people from Google, Microsoft, and IBM who were not really present before because they thought that FII would be just a world of bankers and private equities. Now we see the tech companies coming, which is great for us,” Attias said.

  • Why Saudi Arabia is emerging as key exit market for start-ups

    In the first half of this year, Saudi Arabia's share of exits rose to 20 per cent, compared with 12 per cent in 2021, says Philip Bahoshy, chief executive of data platform Magnitt. Last year, the kingdom witnessed a total of nine exits, accounting for 21 per cent of the Mena region's M&A transactions and ranking second after the UAE. Start-ups usually take an average of seven years to exit, he adds.

  • 14th Saudi Relief Plane Departs for Lebanon with Essential Aid Supplies

    The 14th relief plane of the Saudi air bridge, operated by King Salman Humanitarian Aid and Relief Center (KSrelief), left King Khalid International Airport for Lebanon today, carrying food, shelter, and medical supplies.

  • Safeya Binzagr, a Saudi Artist Celebrated but Long Unseen, Dies at 84

    The Saudi Arabian artist Safeya Binzagr’s groundbreaking moment came in 1968, when she had her debut exhibit, at a girls’ school in the coastal city of Jeddah. It was the first time a woman had shown her art publicly in the country, and the distinguished group of attendees included Saudi royals, diplomats and intellectuals. Despite the restrictions of Saudi society, though, Ms. Binzagr celebrated her heritage — advancing women’s role in Saudi Arabian art, starting classes and opening one of the first art museums in the country.

  • Transcript of Press Briefing: Middle East and Central Asia Department Regional Economic Outlook October 2024

    Let me start with the Middle East and North Africa.  This year has been challenging, with conflicts causing devastating human suffering and economic damage.  Oil production cuts are contributing to sluggish growth in many economies, too.  The recent escalation in Lebanon has increased uncertainty in the MENA region.  The second important issue is on growth.  For 2024, growth is projected at 2.1 percent, a downgrade revision of 0.6 percent from the April WEO forecast, and this is largely due to the impact of the conflict and the prolonged OPEC+ production cuts.  To the extent that these gradually abate, we anticipate stronger growth of 4 percent in 2025.  However, uncertainty about when these factors will ease is still very high.

  • Saudi Prince’s Beach Party Looks to Show Neom Dream Is Real

    An exclusive group of financiers, entertainers and influencers from around the world will this week descend upon Sindalah Island, the first project to open its doors at the planned city of Neom. The resort is now home to ultra-luxury hotels and unspoilt beaches, plus an 86-berth marina where the uber rich can dock their yachts and dive into the crystal clear waters of the Red Sea.

  • Eleventh Saudi Relief Plane Departs for Lebanon with Essential Aid Supplies

    An eleventh relief plane of the Saudi air bridge, operated by the King Salman Humanitarian Aid and Relief Center (KSrelief), left King Khalid International Airport for Lebanon today, carrying food, shelter, and medical supplies.

  • Saudi Surgeon Honored for Performing the World’s First Fully Robotic Heart Transplant

    The award also commemorates his successful completion of the world’s first robotic heart transplant on a 16-year-old patient suffering from end-stage (Class IV) heart failure. This achievement represents a turning point in heart transplant surgery practices, with a medical approach that relies on minimal surgical intervention, thereby reducing pain, shortening recovery times, and minimizing the risks of complications.