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  • Saudi roads see 92% decline in accidents with new solar lighting

    This significant reduction resulted from installing solar-powered lighting at 149 road intersections across the country. This initiative has enhanced traffic safety by improving night visibility and clearly marking pathways for road users. The adoption of solar energy for lighting has also reduced operational costs and carbon emissions associated with traditional energy sources. The authority reported handling over 11,914 comments received through the call center and other digital channels. These included services for raising reports and requests, as well as answering all inquiries. The average response time was only seven seconds, with a service level of 93%.

  • Saudi Arabia tops MENA for venture capital investment in H1 2024

    Saudi Arabia has taken the top rank across MENA in terms of the amount of venture capital (VC) funding in H1 2024, with about $412 million, according to venture data platform MAGNiTT.  The Saudi venture investment market began the year in line with its performance in H1 2023, with non-mega deals accounting for 68% of the value of venture investment in H1 2024, up from 35% in H1 2023, according to MAGNiTT.

  • Kingdom of Gamers: Saudi Arabia to Host Inaugural Esports Olympiad

    In a groundbreaking move, Saudi Arabia has announced plans to host the first-ever Olympic-style Esports Games in 2025. This historic event will thrust competitive gaming into the global spotlight like never before, solidifying its status as a true mainstream phenomenon. The scope and scale of modern esports has transformed dramatically over the past two decades. What was once considered a niche hobby for socially awkward basement-dwellers is now a multi-billion dollar industry attracting worldwide audiences and elite athletic talent. The time is ripe for esports to take its rightful place alongside classic Olympic sports.

  • Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches Petrowealth

    With the budget in deficit for six straight quarters, Saudi Arabia has become the biggest issuer of international debt in emerging markets. And its decision to cut oil production with other OPEC+ members in 2023 has failed to raise export revenues substantially. The Gulf country’s oil earnings have dropped around one-third from 2022 levels, when Brent crude averaged nearly $100 a barrel thanks to Russia’s invasion of Ukraine. That’s weighing on the kingdom’s overall economic stability as it keeps spending on Prince Mohammed’s huge projects, which include everything from the new city of Neom to tourist resorts, football leagues and AI investments.

  • Opinion: Secret meetings prove Israel, Saudi Arabia still want normalization amid war

    Journalist Barak Ravid revealed last month that under the umbrella of the US Central Command (CENTCOM,) IDF Chief of Staff Herzi Halevi met secretly in Bahrain in mid-June with senior figures in the armed forces of Egypt, Jordan, the United Arab Emirates (UAE,) Bahrain, and Saudi Arabia.  CENTCOM is a unified combatant command of the US military responsible for operations in the Middle East, North Africa, and Central Asia, and plays a crucial role in coordinating military and security efforts among US allies. Such a meeting, particularly with the participation of a Saudi representative, is also a form of normalization. So what exactly is going on?

  • Iran-backed militants threaten Saudi Arabia despite thaw in Tehran-Riyadh ties

    The Iranian-backed Iraqi militant group Kataib Hezbollah issued threats against Saudi Arabia, despite the recent détente in Tehran-Riyadh relations. After years of severed diplomatic relations, Iran and Saudi Arabia agreed to resume their diplomatic relations by signing a China-brokered renormalization deal in March 2023. Kataib Hezbollah, an Iraqi Shia group closely aligned with Iran's Islamic Revolutionary Guard Corps (IRGC), warned Saudi Arabia, which it termed the "Kingdom of Evil," of consequences for its perceived role in the Israel-Gaza conflict.

  • Pakistan to ban Imran Khan’s party, file treason case against ex-PM

    Pakistan is planning to ban former Prime Minister Imran Khan's political party and move the country's top court to press treason charges against him, the information minister said on Monday. The move to ban Pakistan Tehreek-e-Insaf (PTI) was based on the proven charge of the party receiving foreign funds from sources that are illegal in Pakistan, as well as rioting by the supporters last year that targeted military installations, Minister Attaullah Tarar said.

  • Hamas says it has not left ceasefire talks after Israeli attacks

    A senior Hamas official said on Sunday that the Islamist group has not withdrawn from ceasefire talks with Israel after this weekend's deadly attacks in Gaza that Israel said had targeted the group's military leader Mohammed Deif. But Izzat El-Reshiq, a member of the political office of Hamas, accused Israel of trying to derail efforts by Arab mediators and the United States to reach a ceasefire deal by stepping up its attacks in the enclave.

  • Green Hydrogen: Air travel could go renewable as future fuel investment skyrockets in UAE, Saudi Arabia

    With massive intent and investment, Middle Eastern countries, led by the UAE and Saudi Arabia, are in pole position to reap the benefits as green hydrogen inches closer to becoming the preferred fuel of the future. Last week, a study undertaken by Sweden’s Chalmers University of Technology, said that almost all air travel within a 1200-kilometre radius could be made with hydrogen-powered aircraft by 2045. The Chalmers project is also working on a heat exchanger, which will enhance this range even further.

  • Saudi wealth fund picks JPMorgan, Morgan Stanley for Nupco IPO

    SAUDI Arabia’s sovereign wealth fund has picked banks for the planned initial public offering of the kingdom’s largest medical procurement firm, as it hunts for cash to finance the crown prince’s ambitious economic agenda. JPMorgan Chase, Morgan Stanley and SNB Capital have been hired to work on Nupco’s IPO, according to people familiar with the matter. The deal could come as soon as this year, the people said, asking not to be identified as the information is not public.