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Amr Khashoggi joins The 966 to talk Saudi foreign policy, Vision 2030 and more
Saudi businessman and philanthropist Amr Khashoggi, chairman of Amkest Group, joins The 966 to talk about some interesting developments in the mining and minerals sector in Saudi Arabia, the red hot Saudi IPO market, Saudi foreign policy, Saudi Arabia’s economy and Vision 2030 and many more topics in episode 27 of the program.
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Saudi Arabia’s Capital to Get Yet Another New Development: The Avenues Riyadh
The list of new or revitalized real estate developments in Riyadh grew this week with the announcement of a new multi-purpose district called “The Avenues Riyadh,” located in the city’s north west area.
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Dustin Johnson Off to Strong Start as Saudi International Golf Tournament Begins
Dustin Johnson’s bid for a third victory at the Saudi International began with a 5-under 65 in the first round of play at the Royal Greens Golf Club in King Abdullah Economic City in Saudi Arabia.
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Three Killed, Six Injured in Deadly Houthi Drone Attack on UAE Capital
Yemen’s rebel Houthi movement said Monday it had carried out a military attack on the United Arab Emirates, attacking the airport in Abu Dhabi and an industrial area and killing three people, according to reports.
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New Podcast Explores History Behind Greg Norman’s Saudi-Backed Quest to Shake-Up Golf
A new podcast from Golf Digest focuses on the history behind Greg Norman’s quest to shake up the sport of golf, backed by the Saudi Arabia Public Investment Fund’s LIV Golf Investments.
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Al Attiyah Keeps Sizable Lead in Dakar Rally; Saudi Officials Find ‘No Criminal Suspicions’ in Last Week’s Blast
Qatar’s Nasser Al-Attiyah kept a sizable lead going in the Dakar Rally as it enters its second week, as Sebastien Loeb moved back into second place with a stage victory at the start of week two in Saudi Arabia on Sunday, according to Reuters.
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Saudi Arabia’s Pension Fund Says it Hit Returns of 14% as it Reveals Finances for First Time – Report
The investment arm of Saudi Arabia’s General Organization for Social Insurance, the Kingdom’s pension fund, said it delivered returns of over 14% last year, as markets globally experienced strong growth, according to a report in Bloomberg.
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The 966 Episode 19: Saudi Arabia’s ‘Nitaqat’ Reforms and Doing Business in Riyadh with Guest Chris Johnson
Episode 19 of The 966 weekly podcast with special guest Chris Johnson, managing attorney, Johnson & Pump and Chairman, MECACC & KKR Saudi Arabia. Chris is a resident of Riyadh and, along with his legal work, publishes a terrific weekly newsletter. The hosts and Chris discuss a handful of topics including Nitaqat in Saudi Arabia, […]
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Saudi Arabia’s PIF to Purchase Italy’s Financially-Distressed Inter Milan FC – Report
Saudi Arabia’s Public Investment Fund (PIF) is in the final stages of acquiring a majority stake in one of Italy’s top football clubs, Inter Milan, according to reports.
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Saudi Energy Minister Warns of ‘Dangerous’ Energy Crises with Reduced Investment in Production
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman al-Saud said on Monday that oil markets could face a dangerous period marked by undersupply and volatility if the world reduces investments in exploration and drilling, according to reports.
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MUST-READS
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Ivan Toney leaves Brentford to join Al-Ahli in Saudi Arabia
The striker will join Al-Ahli after the Saudi club agreed to pay Brentford a transfer fee reported to be $52 million. The Saudi Pro League had been quiet this summer — in contrast to big spending a year ago — but lured the England international away amid reported interest from Premier League clubs.
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Reforms to Saudi legal sector set to attract foreign law firms to the Kingdom
The proposal seeks to amend the first paragraph of Article 50 of the Kingdom’s Code of Law Practice. If enacted, it would allow non-Saudi law firms to set up wholly foreign-owned professional companies. These firms would offer legal advice on the Kingdom’s regulations and represent clients in court through registered Saudi lawyers. Details posted on the Istitlaa platform reveal that this project aims to advance the legal profession, improve the quality and efficiency of the industry, and integrate global expertise into the local context.
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Torrential rains trigger urban flooding in Saudi Arabia
Saudi Arabia was struck by thunderstorms and flash flooding on most of its Red Sea on Friday with footages on social media showing roads inundated and cars stranded in floodwater, according to The National. The rains are expected to last until Tuesday prompting the directorate to urge the citizens to remain on alert and adhere to safety guidelines issued through media as per the Saudi Gazette.
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Saudi Arabia records 21% surge in credit card loans to reach $8bn
Saudi banks recorded a 21 percent annual surge in credit card loans in the second quarter of 2024, reaching SR30.04 billion ($8.01 billion), according to official data. Figures from the Saudi Central Bank, also known as SAMA, showed that this is the highest quarterly figure reported, and the most substantial annual growth seen in a year.
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Saudi Cyclists Continue to Win Medals at the Track Asia Cup 2024
The Saudi cycling team has been performing exceptionally well at the Track Asia Cup 2024, currently taking place in Suphan Buri, Thailand. With over 160 athletes from 28 nations participating, the Saudi riders won two bronze medals today.
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Saudi Arabia extends the tax amnesty scheme until 31 December 2024
In March 2020, the Zakat, Tax and Customs Authority (ZATCA) released a tax amnesty program in the context of the COVID-19 pandemic, with the aim of mitigating its impact on taxpayers. This tax amnesty scheme exempted taxpayers complying with certain requirements from fines and penalties arising from late registrations, late payments and late filing of tax returns in relation to certain taxes.
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EU Gulf Envoy: Saudi Arabia Is a Crucial Global Player
Luigi Di Maio, the EU Special Representative for the Gulf region, told Asharq Al-Awsat that the recent visit by the President of the European Council to Saudi Arabia was to prepare for the upcoming EU-Gulf Cooperation Council (GCC) summit in Brussels on October 16. This will be the first summit between the two regional organizations, with leaders from both sides attending, marking a significant step in their cooperation. Di Maio stressed the importance of strong ties between leaders, noting that European Council President Charles Michel has been dedicated to strengthening these relations since his first visit to the Gulf two years ago, when he met with Saudi Crown Prince Mohammed bin Salman in Jeddah.
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Saudi Arabia arrests 20,718 illegal residents in a week
The Ministry of Interior announced the arrest of 20,718 illegal residents during inspection raids carried out by its officials in all regions of Saudi Arabia during last week. The arrests were made during the joint field security campaigns carried out by security forces and the concerned government agencies during the period between Aug. 22 and Aug. 28. The arrested persons included 13,248 violators of the Residency Law, 4688 violators of the Border Security Law, and 2,782 violators of the Labor Law.
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Esports & Gaming to Contribute SAR 50 Billion to Saudi Economy by 2030
The report, titled ‘Centre of the Game: KSA Emerges as a Significant Player in the Global Esports Market’, highlights the Kingdom's efforts to position itself as a hub for esports by developing an entire value chain to sustain the market. For example, Qiddiya, the entertainment and tourism megaproject in Riyadh, has unveiled plans to create the world’s first gaming and esports district.
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Which transfer windows are still open after the Premier League deadline?
Saudi Arabia emerged as an option for any Premier League club looking to shift players last summer. While clubs from the Gulf nation have been less active in the window this summer, there is still the potential for players from across Europe to move there, such as Moussa Diaby, who left Aston Villa to join Karim Benzema at Al Ittihad in the Saudi Pro League.
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