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  • A $2 Trillion Reckoning Looms as Ports Become Pawns in Geopolitics

    Now, both old and new gateways for seaborne commerce⁠— responsible for handling 80% of the world’s $25 trillion in annual merchandise trade⁠—are economic fortresses in the great-power struggles of a multipolar world. Meantime, they’re having to undergo costly and painstaking conversions to digital technologies, automation and green energy with a price tag estimated at €200 billion ($216 billion) a year in new investment, for a total of €2 trillion over the next decade.

  • Saudi 2036 Olympics ambitions: long race full of major hurdles

    If Saudi Arabia bags the second largest sport mega event in the world, attention will turn to a separate prospective bid for the 2036 Olympics. As such, it can reasonably be assumed that the government delegation’s July 31 visit to Paris also featured efforts to sway the International Olympic Committee (IOC) into agreeing that the Gulf giant is the best place to hold the games in 12 years.

  • Saudi Arabia calls on businesses to submit tax returns or face fines

    The Zakat, Tax and Customs Authority (ZATCA) has called on businesses subject to Value Added Tax (VAT), whose annual supplies of goods and services exceed SR40m ($10.7m), to submit their tax returns for July no later than August 31.

  • Israel says it bombed Hezbollah arms depots in Lebanon’s Bekaa Valley

    The Israeli military said on Wednesday that it bombed Hezbollah weapons storage facilities in Lebanon's Bekaa Valley overnight, its latest strike on arms depots in a major stronghold of the powerful Iranian-backed militia. The air attack came hours after Israeli Defence Minister Yoav Gallant said that "attacking munitions warehouses in Lebanon is preparation for anything that might happen". Hezbollah said it had retaliated for the strike on the Bekaa region by firing Katyusha rockets at an Israeli military logistics site in the Israeli-occupied Golan Heights.

  • Blinken wraps up Mideast trip with Gaza deal still elusive

    U.S. Secretary of State Antony Blinken sought during a whirlwind trip to the Middle East to inject urgency into efforts to broker a Gaza ceasefire deal, but departed the region on Tuesday with an agreement between Israel and Hamas still elusive. Blinken and mediators from Egypt and Qatar have pinned their hopes on a U.S. "bridging proposal" aimed at narrowing the gaps between the two sides in the 10-month-old war, after negotiations last week paused without a breakthrough.

  • What has happened to Saudi Pro League’s big spending?

    "It has been a relatively quiet summer across global football," Simon Chadwick, professor of sport and geopolitical economy at Skema Business School in Paris, told BBC Sport. Chadwick attributes it to "a combination of harsh economic conditions, the late finishing of continental national team tournaments, and clubs across various territories trying to navigate local financial regulations".

  • Saudi’s Bahri and Marinakis’ Capital Maritime sign mega VLCC deal

    The National Shipping Company of Saudi Arabia (Bahri) announced today it has finalised a purchase agreement with Evangelos Marinakis-backed Capital Maritime and Trading, to acquire nine very large crude carriers (VLCCs) for a total of US$1Bn. Most of the VLCCs were built in South Korea and have an average age of 5.9 years. These vessels are fitted with scrubbers and equipped with advanced energy efficiency and low-emissions technologies to minimise environmental impact. Each VLCC has an average deadweight tonnage of approximately 311,500.

  • Saudi Arabia’s literary renaissance captivates local and international audiences

    “Saudi literature has witnessed significant acceleration over the past decade, particularly during the period when culture and its literary derivatives became one of the key objectives of Vision 2030,” said Ibraheem Al-Sinan, head of editorial at Raff Publishing. He added: “This newfound openness to knowledge and literature, spurred by various initiatives, competitions and activities, has enabled young people to make significant leaps in literary production. What once took decades to learn, the youth now accomplish in just a few years.”

  • S&P Global Ratings discusses Saudi-China ties and renminbi-based oil trade – Video

    Charles Chang of S&P Global Ratings outlines the factors to keep in mind.

  • Iranian Politics and Strategy Complicate Response to Hanyiyeh Killing

    Since the July 31 assassination of Hamas’ top leader in Tehran, an operation by all accounts conducted by Israeli intelligence, Iran has vowed to conduct a major retaliatory attack on Israel, presumably including a large missile and armed drone barrage similar to the attack by Iran on April 13. Iran’s closest regional ally, Lebanese Hezbollah, has similarly pledged retaliation for the nearly simultaneous Israeli airstrike on Beirut that killed Fuad Shukr, a senior commander of the organization’s military wing. Global experts always expected Iran and Hezbollah to carefully calibrate their retaliatory actions to avoid sparking a regional war, particularly involving clashes with the U.S. military.