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  • 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.

  • Saudi EXIM Doubles Credit Facilities in First Half of 2024

    The Saudi Export-Import Bank (Saudi EXIM) has announced a significant surge in credit facilities provided during the first half of 2024. The bank extended SAR16.31 billion in financing and insurance, marking a 128% increase compared to the same period last year.

  • Google Cloud expands services in Saudi Arabia, delivering enhanced data sovereignty and AI capabilities

    Building on the launch of the Google Cloud region in the Kingdom of Saudi Arabia (KSA) in November 2023, we are excited to announce new data sovereignty, security, and AI capabilities for the Dammam region. These new offerings can help support the digital transformation journeys of organizations operating in Saudi Arabia that need to meet certain regulatory requirements, including multinational enterprises operating in the Kingdom.

  • Saudi Arabia’s $131 Billion Pledge: A Beacon of Hope for Millions

    Between 1975 and 2024, Saudi Arabia generously provided approximately $131 billion in development aid to 171 countries, implementing over 7,090 humanitarian, relief, and development projects. This unparalleled commitment has solidified, by the end of 2023, the Kingdom's position as the fourth-largest donor of humanitarian and relief aid globally, with assistance of $1.2 billion, equivalent to 3.6% of the aid provided by donor countries to developing countries and countries suffering from disasters and crises, according to the United Nations Financial Tracking Service (FTS).

  • Saudi Arabia spends $986mln to support employment and training during first half of 2024

    More than 100,000 establishments have benefited from these programs and over 153,000 citizens were employed in private sector establishments, he said during the ceremony of launching ‘Jadarat,’ the Unified National Employment Platform on Sunday. “The goal of the platform, under the slogan “Ambition and Empowerment,” is to unify employment efforts and data of job seekers in the public and private sectors, and to raise the quality and reliability of data,” he said.

  • Saudi Arabia launches new unified national employment platform ‘Jadarat’

    This initiative supports efforts to develop the local labour market strategy and achieve national targets in line with Saudi Vision 2030. HADAF Director General Turki Al-Jawini reported that approximately 70,000 job vacancies are currently listed on Jadarat across various specialisations and sectors. He explained that the platform was launched to facilitate the job search journey and explore all job opportunities, becoming the main enabler for employing citizens

  • Iran’s New President Takes the Oath With Promise of Reform and Outreach

    The new president has promised a more inclusive government and more moderate foreign policy, but he is likely to be distracted by more pressing matters at home and abroad early in his presidency. On the day of his inauguration, Pezeshkian was made aware of the challenge he faces in assuming the presidency at a time of heightened tensions between Iran and Israel. No sooner had he been sworn in than Hamas political leader Ismail Haniyeh was assassinated in Tehran, where he had been among guests at the ceremony. Iran blamed Israel, though the Israeli government has not taken responsibility for the strike in the heart of the Iranian capital.