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Middle East’s Largest Broadcaster, MBC Group, Taps Banks for IPO — Report
The Middle East’s biggest broadcaster, MBC Group, has tapped two top banks to work on its initial public offering in Riyadh, people familiar with the matter told Bloomberg.
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British Architecture Studio Foster + Partners Unveils Coral Reef-Like Marine Institute for Red Sea
Designs for the “world’s first fully immersive experiential marine life center” have been unveiled by British architecture studio Foster + Partners to be located on Saudi Arabia’s Red Sea coast, according to a press release from the world-renowned architecture firm.
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Manhattan, Reimagined: Saudi Arabia Applies ‘The Line’ Concept to New York City
NEOM has released a video showing what New York City and the island of Manhattan might look like if it were to be designed in the same concept as The Line, the Kingdom’s planned ultra-futuristic new city.
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KAPSARC Study: Saudi Arabia’s Economy is Expected to be 60% More Resistant to Oil Shocks by 2030
Saudi Arabia’s GDP is estimated to become 60% more resilient to oil price shocks by 2030, according to a new study by the King Abdullah Petroleum Studies and Research Center (KAPSARC).
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Saudi Arabia’s NEOM Sets Target Date of 2026 for First Production of Green Hydrogen
Saudi Arabia’s giga project NEOM will start producing as much as 650 tons per day of green hydrogen in 2026, according to comments made by the CEO of NEOM Industrial City (OXAGON) at the Saudi International Iron and Steel Conference in Riyadh.
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Saudi Arabia’s New Airline ‘RIA’ Reportedly to Launch Soon with $30 Billion to Take On Regional Rivals
Saudi Arabia is in the final stages of launching its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA,” according to an exclusive Arabian Business report.
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Saudi Arabia Eyes Hosting Olympics as ‘Ultimate Goal’ of Growing Sports Portfolio
Fresh off of hosting the boxing heavyweight title fight in Jeddah this weekend, Sports Minister Prince Abdulaziz bin Turki Al-Faisal stated that Saudi Arabia has the “ultimate goal” of hosting the Olympics while it continues to develop a local sports industry and attract international events, according to an interview with the AFP and reported in Al […]
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Deputy Minister of Investment for Saudi Arabia Dr. Saad Alshahrani joins The 966, The IMF’s report on Saudi’s economy, and much more
Episode 58! Dr. Saad Alshahrani, Deputy Minister for economic affairs and investment studies at Saudi Arabia’s Ministry of Investment joins The 966 to talk about the Saudi economy, investment opportunities, and reforms in the Kingdom. Dr. Saad also shares his story of studying in the U.S. and journey to becoming a deputy minister. Before the […]
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Saudi Arabia Announces New Permit Requirement for Content Creators, Social Media Influencers
Saudi Arabia will require all social media users and content creators who are monetizing their posts and stories to apply for and receive a permit from the Kingdom’s General Commission for Audiovisual Media (GCAM), a report in Arab News said.
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Saudi Arabia’s Economy Expanded 11.8% in the Second Quarter; Non-Oil PMI Rises to 8-Month High — Jadwa Investment
Saudi Arabia’s economy expanded 11.8% in the second quarter of 2022, Bloomberg reports, maintaining the fastest pace of growth since 2011 as oil prices boost the Kingdom’s economy. Beyond oil, however, Saudi Arabia is seeing positive signs in the non-oil economy as the Kingdom continues apace with economic reforms as part of the Kingdom’s Vision 2030.
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Over 6 million students in Saudi Arabia return to school on Sunday
More than 30,000 public, private, international, and foreign schools across the Kingdom have welcomed nearly 500,000 teachers in preparation for the new school year. The return to school coincides with the start of the second-round exams for students who did not pass certain subjects in the first round, as well as the distribution of new textbooks to students.
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Lucid is “Outselling All Competitors” in Saudi Arabia, VP Says
Since the beginning of the year, Lucid has delivered well over 1,000 vehicles there, received $2.5 billion in support from the country’s fund, and opened new showrooms and service centers to support the growth in the Middle East region. If for the first quarter of the year, Lucid CEO Peter Rawlinson said vehicle deliveries in Saudi Arabia surpassed 500 units, the figures for the second quarter were not disclosed in the recent earnings call held on August 5th.
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Interior Ministry records nearly 20,000 violations in nationwide residency and labor law inspection campaign
The Ministry of Interior conducted inspection campaigns across Saudi Arabia from August 8 to August 14, focusing on compliance with residency, labor, and border security laws. The inspections resulted in the recording of 19,989 violations, including 12,608 related to residency, 4,519 to border security, and 2,862 to labor laws. During the campaign, authorities apprehended 913 individuals attempting to cross the border into the Kingdom illegally, with 32% of them identified as Yemenis, 65% as Ethiopians, and 3% from other nationalities.
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Saudi Arabia Is Building A $23 Billion Park To Rival NYC’s Central Park – Video
In a bold move to redefine urban spaces, Saudi Arabia is embarking on an ambitious project to construct a $23 billion park designed to rival the iconic Central Park in New York City. This monumental endeavor, part of the Kingdom’s Vision 2030 plan, aims to transform the capital, Riyadh, into a global hub of culture, leisure, and innovation. The park, spanning over 13 square kilometers, will feature lush greenery, cutting-edge recreational facilities, and a host of cultural attractions, offering a blend of tradition and modernity. As the largest urban park in the world, this project is set to not only enhance the quality of life for residents but also attract millions of visitors worldwide.
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Saudi Super Cup 2024 final: Al Hilal crush Al Nassr
Al Hilal clinched the Saudi Super Cup trophy by coming from a goal down to crush Al Nassr 4-1 on Saturday, with all four of their goals coming in a dominant second half. Cristiano Ronaldo scored Al Nassr’s only goal a minute before the end of the first half, in which there were few chances, when he capitalized on a wonderful pass from Abd El Rahaman Ghareeb.
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Saudi Arabia’s surge in female workforce participation drives economic impact
It comes as the Gulf Cooperation Council experiences unprecedented momentum in women’s participation in the workforce. According to the latest figures from the World Bank, the female labor force participation rate in Saudi Arabia stands at 34.5 percent, compared to 79.9 percent for males. Anne-Laure Malauzat, a partner at Bain & Co. in the Middle East, told Arab News that the statistic has surpassed the original target of 30 percent, prompting the Kingdom to set a new goal of 40 percent by 2030.
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No mpox cases detected in Saudi Arabia: Health authority
No cases of mpox Clade 1b have been detected in Saudi Arabia despite the global outbreak, the Saudi Public Health Authority confirmed on Saturday. The authority stressed that the Kingdom was prepared to face all types of health threats by implementing the necessary measures to monitor and curb the spread of the virus, ensuring the safety and well-being of both citizens and residents.
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Saudi Arabia’s New Red Sea Campaign Launches: Jeddah Welcomes First Visitors to Luxurious, Eco-Friendly Destination
The Red Sea, one of Saudi Arabia’s most anticipated new developments, has launched an innovative campaign aimed at inviting the first wave of visitors to experience its offerings. This campaign, titled “Be The First,” was launched by Visit Red Sea, the tourism arm of the destination, in collaboration with Beautiful Destinations, a content studio and agency known for its creative endeavors. The campaign seeks to position the Red Sea as a must-visit location, enticing travelers with the opportunity to be among the first to explore this newly accessible region.
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Saudi Arabia, Morocco sign MoU to enhance health cooperation
A statement by Morocco’s health ministry said that the accord called for cooperation on improving health care quality and patient safety, and in combating pandemics and epidemics, including early detection and control measures, as well as in scientific research in health and medicine. It also facilitates information exchange in telemedicine.
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Over 44,000 Saudi families moved to first home in H1 2024: Sakani
The Sakani program revealed that 55,000 Saudi families benefited from the program during the first half of 2024, marking an increase of nearly 8% compared to the same period last year, which saw 51,000 families benefiting.
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