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  • Fewer countries see China as the world’s top economic power

    Of 24 countries polled by the Washington, DC—based think tank, only eight countries said China is the world’s leading economic power. Among respondents in 14 countries, the US was most widely regarded as the global economic top dog. Two countries, France and the UK, had equal shares of respondents giving that title to the US and China. The survey polled over 30,000 people worldwide between February and May of this year.

  • Saudi Arabia boards show a preference for experienced directors with CEO backgrounds to power Vision 2030

    50 new board appointments were made in 2022, a slight dip from 53 in 2021. Overall, there is a growing preference for members with previous board experience with the number of first-time board members dropping from 43% in 2021 to 36% in 2022. Meanwhile, CEOs continue to dominate boards in the kingdom with almost half (48%) of the new board members in 2022 having prior CEO experience. In comparison, former or active Chief Human Resources Officers, Chief Financial Officers and Chief Operating Officers contributed to 4% of the appointments each; and Chief Information Officers, Chief Marketing Officers, and Chief Technology Officers each secured only 2% of the seats filled.

  • Chart: The World’s Most (and Least) Powerful Passports

    Singapore has the most powerful passport in the world, according to the Henley Passport Index, with its citizens able to visit 192 countries without a prior visa. Germany, Italy and Spain come in joint second place, with their citizens able to visit 190 countries. Even though the United States is a little further down the list, coming in 8th place, it still yields considerable power, enabling citizens to enter 184 countries without major restrictions. It’s a level of freedom also enjoyed by passport holders in Lithuania.

  • America’s Rise as Energy Export Powerhouse Hinges on Corpus Christi

    The U.S. has transformed global markets by boosting crude-oil exports more than 30-fold over the past decade. Much of the boom hinges on Corpus Christi Bay. In the first four months of 2023, about half of the country’s 4.1 million barrels of daily shipments abroad was loaded onto skyscraper-size tankers from this stretch of Texas coastline, destined to become fuel for overseas travelers or factories.

  • The Middle East is people-powering the digital revolution

    The term the Fourth Industrial Revolution (4IR) describes the limitless possibilities of billions of people connected by mobile devices and empowered by emerging technologies, such as artificial intelligence (AI), robotics, nanotechnology and more. The Middle East is embracing this digital revolution and is set to benefit from it substantially. Many Gulf Cooperation Council (GCC) countries are engaged in ambitious economic diversification strategies designed to reduce their reliance on oil and gas. Countries such as Bahrain, Saudi Arabia and the United Arab Emirates have all outlined economic visions that involve a significant adoption of advanced technologies.

  • Turkey’s Baykar Drone Powerhouse Signs Export Deal With Saudi Arabia

    Under the deal, Baykar is expected to sell an unspecified number of drones to Saudi Arabia. The agreement was signed during a visit by Turkish President Recep Tayyip Erdogan to Saudi Crown Prince Mohammad Bin Salman on Monday along with accords on direct investment, defense industry, energy and communication. “Cooperation over the transfer of technology and local production will also be realized as part of the exports,” Bayraktar told CNN-Turk television on Tuesday, adding that other defense deals including the sale of munitions to Saudi Arabia will follow.

  • New ‘Wave’ training program bids to empower Saudi music industry

    The Kingdom’s Music Commission has announced the launch of the “Wave” training program in Riyadh, in cooperation with the Anghami platform, to help promote the music industry in Saudi Arabia. The program is aiming to produce 100 graduates, who will each receive a certificate granting full access to schemes run by the Saudi Music Center and the Saudi Music Commission. The application process began on July 15 and will continue until Aug. 30. Workshops start on Aug. 27 and run until Sept. 28. Graduation takes place on Oct. 7.

  • Saudi Aramco VC Fund Joins Thiel to Back AI-Powered Emissions Monitor Tenderd

    Saudi Aramco’s venture capital arm has invested in Tenderd, a United Arab Emirates-based firm backed by Peter Thiel, which uses AI-generated insights to monitor and help reduce emissions. Aramco’s $500 million venture fund, Wa’ed Ventures, didn’t disclose how much it invested in the startup.

  • Gulf Engagement in Flux as Taliban Supreme Leader Consolidates Power

    A recent meeting between Qatar and the Taliban’s supreme leader shows that engagement with the Taliban’s leadership in Kandahar is a necessary but not always sufficient condition for progress.

  • ACWA Power signs deal with Chinese-Saudi consortium for desalination plant construction

    A huge desalination plant on the Red Sea coast is a step closer to being built afer a Chinese-Saudi consortium was awarded the construction contract for the SR2.54 billion ($677 million) project. Saudi firm ACWA Power — the company leading the plant’s development — signed the deal with the group which includes Beijing-based Power China, Qingdao-headquarted SEPCOIII, and Riyadh-located Wetico, at a special ceremony in the Kingdom. The Rabigh 4 Independent Water Plant is set to be built in Saudi Arabia’s Western province, and will mainly serve the Makkah and Madinah regions.