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  • Frankly Speaking: How did Saudis become mediators for global conflicts?

    Appearing on the Arab News current affairs program “Frankly Speaking,” Dr. Abdulaziz Sager, founder and chairman of the Gulf Research Center, highlighted the significance of the US-Russia talks in Riyadh, noting that Saudi Arabia’s neutral stance had positioned it as an ideal convener. “Saudi Arabia has taken an important position that has led to this meeting, which means Saudi Arabia originally refused to take a side — neither with the Russians nor with the Ukrainians,” Sager said. Global media outlets have highlighted Saudi Arabia’s unique positioning, noting that it has maintained positive ties with both Russia and the West throughout the Ukraine conflict, which began on Feb. 24, 2022, when Russia launched what it called a “special military operation.”

  • BP to ditch renewables goals and return focus to fossil fuels

    BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings, two sources told Reuters. BP's shares have underperformed rivals in recent years and the oil major has already dropped its target to cut oil and gas output by 2030, Reuters reported in October. On Wednesday, when BP holds a capital markets day, CEO Murray Auchincloss will tell investors the company is abandoning its target to grow renewable generation capacity 20-fold between 2019 and 2030 to 50 gigawatts, opens new tab, two sources close to the matter said. The plan to drop the target has not been previously reported.

  • Kingdom of Saudi Arabia confirms US$ 500 million commitment to global polio eradication effort

    The Kingdom of Saudi Arabia today reaffirmed its US$ 500 million pledge to the Global Polio Eradication Initiative (GPEI) in a signing event during the fourth Riyadh International Humanitarian Forum. H.E. Dr. Abdullah al Rabeeah, Supervisor General of King Salman Relief and Humanitarian Centre, was joined by Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization; Catherine Russell, Executive Director of UNICEF; Dr. Sania Nishtar, CEO of Gavi, the Vaccine Alliance; Dr. Chris Elias, President of Global Development at the Gates Foundation and Chair of the Polio Oversight Board; and Aziz Memon, Pakistan Polio Plus Chair, Rotary International, to sign an agreement that will help the GPEI and its partners to reach 370 million children with polio vaccines each year and stop transmission of the virus for good. The funds were initially pledged in April 2024 at the first-ever World Economic Forum Special Meeting hosted in Riyadh.

  • Analysis: What’s Behind the Arab Alternative to Trump’s Gaza Proposal

    This would appear to be Israel’s strategic choice, and shifting that will take an enormous amount of pressure from Washington. By coming up with a more detailed postconflict stabilization and reconstruction agenda in response to Trump’s impracticable ethnic cleansing proposal, the Arab states may make it easier for the U.S. president to force the Israeli prime minister to back down and accept an alternative Palestinian civic administration. But that’s going to be a very heavy lift, even for the White House. The deep logic of Israel’s divide and rule strategy and the preeminence of preventing Palestinian independence in its strategic thinking and annexation intention make strengthening the hands of the Palestinian Authority and Palestine Liberation Organization anathema to the Israeli right, which has dominated governance in Israel for the past two decades. Even given what Hamas perpetrated October 7, the Israeli right appears more troubled by the possibility of strengthening the secular nationalists of Fatah than by dealing with, and reempowering, Hamas’ Gaza cadres.

  • Saudi Billionaire Olayan Bets on Female Founders in Deal Spree

    Dara Holdings, billionaire Lubna Olayan’s family office, has made a series of investments since mid-2024 in United Arab Emirates-based startups founded by women. Her firm participated in a $10 million seed funding round disclosed this month for qeen.ai, a Dubai-based artificial intelligence startup co-founded by former Google executive Dina Alsamhan. The family office plans to continue making investments that empower women in the Middle East and is supporting the establishment of a social-impact fund at Alfanar, a UK-registered charity Olayan, 69, helps to lead, according to Dara Chief Investment Officer Walid Haram. “If an investment ticks the boxes, and it supports women in the region, that for us is a big additional plus,” Haram, 44, said in a statement. “It’s a big focus.”  The former JPMorgan Chase & Co. analyst is a principal of Olayan Group, a multibillion-dollar international conglomerate founded by her father in 1947 that she owns alongside members of her family. She served for decades as chief executive officer of its Middle East holding company, Olayan Financing Co., until stepping down in 2019. She now serves as chair of its executive committee and also leads the board of directors for Riyadh-based lender Saudi Awwal Bank.

  • King Salman orders naming of 15 Riyadh squares after Saudi rulers to commemorate Founding Day

    The directive reflects the leadership’s commitment to honoring the legacy of Saudi rulers who played a pivotal role in the foundation, unification, and development of the nation over the past three centuries. The designated squares are located along major roads in the Saudi capital and will bear the names of key figures in the country's history. Among them are Imam Mohammed bin Saud, Imam Abdulaziz bin Mohammed, Imam Saud bin Abdulaziz, Imam Abdullah bin Saud, Imam Turki bin Abdullah, Imam Faisal bin Turki, Imam Abdullah bin Faisal, and Imam Abdulrahman bin Faisal. Additionally, the names of Saudi kings who shaped the modern state will be commemorated, including King Abdulaziz, King Saud, King Faisal, King Khalid, King Fahd, King Abdullah, and King Salman.

  • Saudi ambassador to UK rules out one-state solution for Palestine

    Saudi Arabia’s ambassador to the UK, Prince Khalid bin Bandar, has reaffirmed Riyadh’s stance that a two-state solution remains the only viable path to resolving the Palestinian issue. Speaking on Friday at a panel discussion with Arab News Editor-in-Chief Faisal Abbas, hosted by MENA-based think tank SRMG Think, the ambassador made it clear that the Kingdom rejects any notion of a one-state outcome. “Discussions are just happening, and at the Arab Summit there will be agreement,” he said. “(It is) a little bit early for me to talk about it, but I can tell you that, definitely, we don’t envisage seeing nothing. Straight off the bat, there is no one state solution. As far as we’re concerned, we don’t see the displacement of the people of Gaza as a viable method in order to achieve prosperity.”

  • Benzema seals emphatic win in Saudi Clasico to increase Al Ittihad’s lead at summit

    Al Ittihad took a huge step towards the Roshn Saudi League title on Saturday with a thumping 4-1 victory against Al Hilal in the Saudi Clasico. The league leaders prevailed in the top-of-the-table clash at a packed Alinma Stadium in Jeddah thanks to a Steven Bergwijn double and goals from Hassan Kadesh and Karim Benzema. Marcos Leonardo had actually opened the scoring for Al Hilal midway through the first half, the Brazilian poking home Joao Cancelo’s cross to give the RSL champions the perfect start. It marked Leonardo’s 14th goal of his superb debut campaign in the Kingdom.

  • King Salman orders the naming of 15 Riyadh squares after Saudi imams and kings

    The Riyadh Municipality has begun installing road signs, bearing the names of imams and kings, at 15 main squares in the capital. It reflects the leadership’s commitment to honoring national figures who have contributed to building and developing the Saudi state while preserving their legacy and reinforcing national identity, the Saudi Press Agency reported on Sunday. The initiative includes installing signs and updating street names. The effort aligns with the municipality’s strategy to enhance national identity in public spaces, and supports Vision 2030 by highlighting the historic and cultural values shaping the homeland’s identity.

  • Saudi Arabia tops MENA for venture capital investment in 2024

    Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held more than 40% of VC investments in the region, or $750 million, in 2024, according to venture data platform MAGNiTT. The United Arab Emirates (UAE) came second with $613 million. The value of venture investments in Saudi Arabia was down 44% in 2024, driven by an 85% year-on-year (YoY) decline in the value of mega deals (deals exceeding $100 million). According to the Saudi VC Report for 2024, VC deals hit a record high during the period, reaching 178, up 16% YoY, driven by increased early-stage activity.