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  • Saudi Arabia’s flynas flies over 7 million passengers in H1 2024

    Saudi Arabia-based low-cost carrier flynas welcomed more than seven million passengers on board its flights in the first half of 2024, a 47 percent growth. The airline also reported a 37 percent increase in seat capacity for domestic and international flights during the period, compared with the same period of 2023, days after announcing the landmark purchase of 160 Airbus aircraft.

  • Back-to-Back Assassinations in Middle East Scramble Biden’s Hopes for Peace

    But Mr. Biden’s team vowed on Wednesday not to give up. U.S. officials spent the day reaching out to officials in Israel, Lebanon, Iraq, Qatar, Egypt, Jordan and Saudi Arabia in hopes of keeping the spiral of violence from escalating beyond limited strikes and salvaging a possible cease-fire deal after the dust settles. A team of American negotiators pursuing a cease-fire just left Rome, and another team was heading to Cairo from Saudi Arabia to continue the effort.

  • Bomb Smuggled Into Tehran Guesthouse Months Ago Killed Hamas Leader

    The bomb had been hidden approximately two months ago in the guesthouse, according to five of the Middle Eastern officials. The guesthouse is run and protected by the Islamic Revolutionary Guards Corps and is part of a large compound, known as Neshat, in an upscale neighborhood of northern Tehran.

  • Khalid Sheikh Mohammed, accused as the main plotter of 9/11, agrees to plead guilty

    After spending almost two decades in the U.S. military prison at Guantánamo Bay, Cuba, the alleged mastermind of the 9/11 terror attacks, Khalid Shaikh Mohammed, and two of his accomplices have agreed to plead guilty in exchange for sentences of up to life in prison rather than face a death-penalty trial.

  • As international dollars flow towards AI-powered startups, how has MENA been riding the wave?

    Saudi Arabia-based Intelmatix, a deep tech B2B startup focused on empowering MENA businesses with AI for decision-making, has recently secured a $20M Series A funding round—one of the largest for a regional company of this type. This past week also saw Saudi-based SaaS provider Velents AI join the AI funding frenzy, raising an undisclosed sum from Women Collective to fuel its growth. And just last week, Aramco’s venture arm, Wa’ed Ventures, splashed $15M on South Korean chipmaker Rebellions Inc., marking its debut investment in South Korea following a $6.5M investment in California-based aiXplain. That was Wa’ed Ventures’ second AI deal in one week!

  • The rise of solar energy in Saudi Arabia

    The best way to understand their changing approach is to look at the speed at which things are changing. Between 2022 and early 2024, Saudi Arabia added 2.1 gigawatts (GW) of renewable power capacity, a 300% increase from the 700 megawatts (MW) that was created between 2012 and 2022. According to a study by GlobalData, if they continue at their current pace, they could reach 31.5 GW of renewable energy by 2030 and 63.1 GW by 2035.

  • JBS to open new chicken nugget plant in Saudi Arabia

    JBS, the world’s largest poultry producer, will open a new plant in Jeddah, Saudi Arabia, where the company will produce chicken nuggets. The Brazil-based company invested $50 million in the facility, which is expected to begin operations in November. When fully operational, the plant will employ about 500 people.

  • Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

    Saudi Arabia’s foreign reserve assets increased by 5.5 percent in June 2024, reaching SAR1.754 trillion ($467.5 billion). This compares to SAR1.662 trillion ($442.98 billion) in the same month of 2023, according to official data. This represents the highest level since November 2022.

  • Saudi budget deficit at $4.09 billion in Q2 2024, finance ministry says

    Saudi Arabia’s budget deficit was 15.341 billion riyals ($4.09 billion) in the second quarter of 2024, the finance ministry said on Wednesday. Saudi oil revenues came in at 212.99 billion riyals in the same quarter, up 18 percent compared with the same quarter a year earlier, while expenditures were up 15 percent at 368.932 billion riyals, the ministry added.

  • Prince Abdulaziz hosts official dinner for Saudi delegation at Paris 2024 Olympics

    Prince Abdulaziz bin Turki bin Faisal, Chairman of the Saudi Arabian Olympic and Paralympic Committee and head of the Saudi delegation participating in the 33rd Summer Olympic Games (Paris 2024) hosted an official dinner for the Saudi delegation in Paris. In his speech at the event, Prince Abdulaziz welcomed all the distinguished guests, including the heads of national Olympic committees, international federations, and sports leaders from around the world who attended the Saudi delegation's dinner.