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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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A Special Edition of The 966: Reviewing President Biden’s Visit to Saudi Arabia with Jon Alterman, David Des Roches, and Hussein Ibish
A very special edition of The 966 for Episode 53: The 966 has lined up three experts to discuss their reactions to President Biden’s visit to Israel and Saudi Arabia and a renewed U.S. focus on the Middle East region. Hussein Ibish, columnist for Bloomberg, Dr. Jon Alterman from the Center for Strategic and International […]
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Saudi Arabia’s Ports Cargo Volume Jumps in June
Saudi Arabia’s ports witnessed a 16.1 percent increase in cargo throughput volumes in June 2022 compared to the same period a year before, according to a report in Arab News, citing the latest release by the Saudi Ports Authority, also known as Mawani.
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Saudi Crown Prince Mohammed bin Salman Heads to Turkey after Visiting Jordan, Egypt
Saudi Crown Prince Mohammed bin Salman landed in Turkey for the first time in several years on Wednesday for talks with President Erdogan, after visiting neighboring Egypt and Jordan as part of a regional tour, Reuters reports.
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Leaked Image Appears to Show Lucid Motors First Saudi Showroom in Riyadh
U.S.-based Lucid Motors appears poised to open its first showroom in Riyadh, a photo published on an EV-focused news site confirms.
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Saudi Arabia is ‘Experiencing a Housing and Mortgage Boom’ as Vision 2030 Reform Efforts Drive Progress
Saudi Arabia is “experiencing a housing and mortgage boom, reflecting a government drive to boost home ownership as part of efforts to shake up the oil kingdom’s economy and its ultraconservative society,” the Financial Times reports.
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Report: Kingdom to Use Some Oil Windfall on Boosting Private Sector
Saudi Arabia’s minister of economy and planning Faisal Alibrahim said the Kingdom will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, Bloomberg reports.
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Saudi Arabia’s tourism sector, carbon capture investments, and a conversation on Saudi-Iraqi history with Joshua Yaphe
In episode 43, the U.S. State Department’s Joshua Yaphe joins The 966 to discuss his book, “Saudi Arabia and Iraq as Friends and Enemies: Borders, Tribes and a Shared History.” Yaphe is a foreign affairs officer with the U.S. Department of State; responsible for research and analysis of political, economic, security and social affairs related […]
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MUST-READS
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Chip Giants TSMC and Samsung Discuss Building Middle Eastern Megafactories
Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co. TSM 0.39%increase; green up pointing triangle, the world’s largest chip maker, have visited the U.A.E. recently and talked about a plant complex on par with some of the company’s largest and most advanced facilities in Taiwan, according to people familiar with the interactions.
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New Iran president’s entourage in NY signals Iran preparing to negotiate
The message the Iranian diplomatic entourage suggested is that Iran is trying to best position itself to renew diplomacy with the west when the other side is ready. Six weeks before the US presidential elections, it seems unlikely that the Biden administration will try to pursue direct negotiations with the new Iranian team. But it seems plausible that the entourage may have a chance to speak with expert contacts and perhaps some former officials to update each other on how they are thinking and help lay the groundwork for future talks when a new U.S. president takes office.
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Saudi Arabia committed to transforming tourism into sustainable industry: Minister
Saudi Arabia’s efforts in promoting tourism go beyond economic benefits, as it paves the way for people worldwide to explore the Kingdom’s rich and ancient culture, while allowing its people to discover the other cultures. This statement came during the G20 Tourism Ministers' Meeting, held in Belém, Brazil.
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Egypt is cozying up to Somalia to thwart Ethiopia
Tensions between Egypt and Ethiopia have escalated in recent days. Relations between the two African countries, already strained since 2011 due to Ethiopia’s construction and filling of the Great Ethiopian Renaissance Dam (GERD) on the Blue Nile—a project Egypt views as a major threat to its water and food security—have further deteriorated. The recent downturn comes after Egypt forged closer ties with Ethiopia’s rival, Somalia.
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US sends additional forces to Middle East as tensions soar
Americans in Lebanon should leave now while flights are still available, White House national security spokesman John Kirby said, as violence flares between Israel and Hezbollah.
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The Bread-and-Butter Issues of Jobs and Taxes in the Gulf
As Gulf governments accelerate domestic development agendas, local job creation and tax revenue are measurable indicators of economic policymaking success. Gulf citizens understand how employment status, salary, and tax liability affect their economic well-being, while it is much harder to determine the personal economic impact of foreign direct investment inflows. Expatriate workers and foreign investors can likewise calculate the costs associated with stricter requirements to employ local jobseekers and with new tax obligations. These two sensitive policy domains reflect the tricky tradeoffs associated with Gulf states’ development agendas.
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Has Gaza Created Structural Impediments to Normalization?
On September 16, the United Arab Emirates Deputy Prime Minister and Foreign Minister Abullah bin Zayed al-Nahyan made clear the UAE will not support postwar efforts in Gaza without the creation of a Palestinian state. With its explicit conditionality and reference to a “status quo” in Gaza that would prevent postwar UAE involvement, the statement represents a modulated toughening of previous UAE expressions of willingness to participate in a temporary international mission after the war. Along parallel lines September 16, a senior Omani Foreign Ministry official insisted Oman “had no intention” of normalizing relations with Israel and called for an immediate stop to Israel’s “barbaric war on Gaza.”
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Saudi Ministry of Economy and Planning Hosts Sustainable Development Event at UNGA Week
The Saudi Ministry of Economy and Planning hosted an event on the sides of the high-level week of the 79th session of the UN General Assembly. Titled 'Unlocking Innovation for Sustainable Development through Platforms and Partnerships'. The event highlighted the critical role of platforms that bring together diverse stakeholders, such as governments, businesses, civil society, and academic institutions, to drive sustainable development in a truly impactful and inclusive manner. It was stated that through these collaborative frameworks, we can ensure innovation translates into substantial and lasting change.
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Saudi Arabia AI in Manufacturing Industry Research Report 2024
Saudi Arabia AI in Manufacturing Market was valued at USD 205 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 34.5% through 2029.
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Commentary: Chinese Takeout in Saudi Arabia? You Bet
The company is joining a growing fleet of businesses that see a bright future in the Gulf kingdom. In recent months, Chinese firms won multibillion-dollar contracts to build solar plants and mixed-use development projects. In exchange for a $2 billion investment, PC maker Lenovo Group Ltd. is establishing regional headquarters there in a deal that is expected to create 15,000 jobs locally. And last but not least, Hong Kong’s flagship airline Cathay Pacific Airways Ltd. will start a new direct route to Riyadh in late October, pleasing Saudi officials who have been pitching the nascent tourism industry.
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