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Aging Population, Pension System May Pressure Saudi Fiscal Policy, S&P Says
Saudi Arabia’s population could put greater pressure on the Kingdom’s fiscal policy and increase government debt as it ages over the next three decades, ratings agency Standard & Poor’s has warned. Saudi Arabia’s population is disproportionately young now, with over 70% of all Saudis under 30 years old. But even the smaller percentage of the population […]
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Millions Worldwide Celebrate Eid Al-Fitr, End of the holy month of Ramadan
Millions of Muslims worldwide celebrated the festival at the end of the holy month of Ramadan on Wednesday as the three-day Eid al-Fitr festival began. Eid al-Fitr festival traditionally means family gatherings and the exchange of gifts and a feast after a month of fasting from dawn until dusk. Despite two deadly terrorist attacks in […]
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‘Very Good News’ for Saudi Real Estate as Kingdom Gets Boost in Transparency Ranking, Citing Chambers of Commerce
JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI) has increased Saudi Arabia’s standing to “Semi-Transparent” after recent efforts by the Chambers of Commerce in Saudi Arabia. “The formation of real estate committees in the Chambers of Commerce has highlighted the issue of low transparency in the market and encouraged more action […]
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First Ever Direct Crude to Chemicals Plant “One Step Closer” for Aramco, SABIC
State-owned Saudi oil giant Aramco and diversified chemicals company SABIC are “one step closer” to being the first ever to use crude oil directly, rather than using refined products such as naphtha or ethane gas as feedstock, to create chemicals, according to reports and announcements by the companies on Saudi Arabia’s stock exchange. The achievement […]
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Mohammed Bin Salman Departs U.S. for France, Sends Cable Thanking U.S. and Obama for Hospitality
Saudi Deputy Crown Prince Mohammed bin Salman sent a cable of thanks to US President Barack Obama on Sunday as he concluded his visit to the United States. “I am pleased as I am leaving your friendly country after the end of my official visit to extend to Your Excellency my deep thanks for the […]
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Deputy Crown Prince, Delegation Meet with Ban Ki Moon at the United Nations
Deputy Crown Prince Mohammed bin Salman and an eight-member delegation arrived at the U.N. yesterday for meetings with the Secretary General, Ban Ki Moon. The Prince and his delegation reportedly discussed Mr. Ban’s decision to cite the Saudi-led military coalition in the Yemen conflict for violating the rights of children. According to the New York Times, Prince Mohammed […]
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Concluding Trip to Silicon Valley, Deputy Crown Prince Mohammed bin Salman and Delegation Ink MOU with Microsoft
Saudi Deputy Crown Prince Mohammed bin Salman met with Satya Narayana Nadella, chief executive officer of Microsoft, at the company’s Silicon Valley offices in San Francisco on Tuesday and signed two deals with the IT giant, according to reports. The first MOU between Saudi Arabia and Microsoft “will train young Saudis and will support Saudi Arabia […]
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Deputy Crown Prince Mohammed bin Salman Meets with President Obama, Receives Praise for “Vision 2030”
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman met with President Obama on Friday at the White House to discuss regional and economic issues with the President, Vice President and other members of Obama’s cabinet. The President “commended” Prince Mohammed’s “Vision 2030” plans to reform Saudi Arabia’s economy and society, according to a readout. “The […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman Receives Praise on Capitol Hill in Washington for Ambitious Economic Reforms
Deputy Crown Prince Mohammed bin Salman visited congressional leaders in Washington on Wednesday to discuss diplomatic and regional issues and talk about Saudi Arabia’s new economic reforms. Prince Mohammed met with Sen. Tom Cotton (R-Arkansas) along with the Senate Armed Services Committee, including Sen. John McCain (R-Arizona) and Sen. Lindsey Graham (R-South Carolina) as well as […]
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State Department Readout of Secretary Kerry’s Dinner with Deputy Crown Prince Mohammed bin Salman
Secretary Kerry hosted Deputy Crown Prince Mohammed bin Salman on June 13 for an iftar dinner in recognition of the Deputy Crown Prince’s visit to the United States. “The two reviewed the strong and enduring relationship between the United States and Saudi Arabia and discussed a broad range of regional issues, including Yemen, Syria, Libya, […]
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MUST-READS
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New Saudi AI model to advance radiology diagnosis
King Abdullah University of Science and Technology (KAUST) and Saudi Data and Artificial Intelligence Authority (SDAIA) have released MiniGPT-Med, a new vision-interfaced large language model, designed to provide faster and more efficient radiology diagnosis. The new model was built using Meta’s Llama 2 for the language component and the university’s MiniGPT-v2 as a vision-language alignment backbone.
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GCC Population Surges by 4 Million in Two Years
According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.
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‘A Rubik’s Cube in the Sky’: Israel Struggles to Defend Against Drones
On Friday, Israel’s vaunted aerial-defense system tracked 65 rockets fired across its northern border by the Lebanese militant group Hezbollah, intercepting some and letting the rest fall harmlessly into open areas. That same day, Israel missed a single drone it believes flew more than 1,000 miles from Yemen to explode in the commercial capital Tel Aviv.
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Gamers are competing for a record-breaking $60m prize pool at the Esports World Cup
The Esports World Cup is underway in Riyadh, Saudi Arabia, with thousands of participants from all corners of the globe competing across 21 games like Call of Duty, League of Legends and Dota 2. CNN’s Eleni Giokos speaks to some of the athletes vying for glory and a life-changing $60 million prize pool.
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Three Saudi companies acquire fund behind world’s tallest tower
The Saudi Arabian fund behind what will be the tallest tower in the world has been acquired in a $1.8 billion (SAR6.8 billion) deal. Kingdom Holding Company, Sumuo Holding Company and Jeddah Economic Company (JEC) have signed an agreement to take ownership of the Al Inma Jeddah Economic Fund, which is currently wholly owned by JEC. The fund’s Jeddah Tower will be more than 1,000m high. The surrounding development, located in the Obhur district in the north of the city, will measure an estimated 1.7 million square metres.
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Heat Waves Are Pounding Egypt, and Often There’s No A.C.
Egyptian summers have always been hot. But it has not always been this hot, with temperatures barely dipping below 100 degrees in Cairo since May, testing tempers and massacring houseplants. And it has never been this hot at a time when the government has imposed power cuts on most of the country for more than a year, plunging millions into sweaty, un-air-conditioned misery for hours each day.
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Saudi Arabia Discusses Enhancing Industry, Mining Cooperation with Türkiye
Deputy Minister of Industry and Mineral Resources for Industry Affairs Khalil Ibrahim Ibn Salamah discussed enhancing cooperation between Saudi Arabia and Türkiye in the industrial and mining sectors. During his official visit to Türkiye alongside several officials from the Saudi private sector, the deputy minister discussed promising investment prospects in both countries and the joint development of their industrial capacities. The visit is part of the efforts of the Kingdom’s industrial and mineral resources system to develop industrial partnerships with Türkiye.
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Saudi Arabia has sufficient uranium to diversify energy mix: Al-Khorayef
Minister of Industry and Mineral Resources Bandar Al-Khorayef said that Saudi Arabia has sufficient quantities of uranium to meet its need to diversify the energy mix, noting that the search for uranium and other minerals is still ongoing. He also stressed the importance of the mining sector as the third pillar of Saudi industry.
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Saudi Arabia’s General Authority of Civil Aviation and Lilium to collaborate on development and implementation of eVTOL regulation in the Kingdom
The partnership will start by setting up a joint Working Group preparing the regulations in Saudi Arabia for the introduction of regional electric air mobility. Dedicated sub-working groups for infrastructure, air operations, airworthiness, and airspace integration, led by GACA and strongly supported by Lilium, are to jointly discuss, accelerate, develop, and implement the necessary regulatory and procedural framework.
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Saudi Arabia is investing heavily to accommodate greater religious tourism
Aligned with the Kingdom’s Vision 2030, the already popular religious destination is seeking to attract more than 30 million religion tourists per year by 2030. The city of Mecca (Makkah) has hosted the annual Hajj pilgrimage for more than 14 centuries. The Hajj journey is completed over a period of five days and the city also hosts Umrah pilgrims year-round.
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