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  • Saudi Arabia signs agreement with OPEC Fund to aid economic recovery in Somalia

    Saudi Arabia has entered into a three-way agreement with the OPEC Fund and Somalia to support the East African country’s economic recovery. Saudi Finance Minister Mohammed al-Jadaan signed the agreement with his Somalian counterpart Bihi Egeh and the OPEC Fund president Abdulhamid al-Khalifa on the sidelines of the OPEC Fund Development Forum and Ministerial Meeting in Vienna.

  • Aramco and Sempra announce Heads of Agreement for equity and offtake from Port Arthur LNG Phase 2

    Aramco, one of the world's leading integrated energy and chemicals companies, and Sempra (NYSE: SRE) (BMV: SRE), one of North America's leading energy infrastructure companies, today announce that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (Mtpa) from the Port Arthur LNG Phase 2 expansion project. The HoA further contemplates Aramco's 25% participation in the project-level equity of Phase 2.

  • Between Collective Memory and Contemporary Media: AI in Daniah Alsaleh’s Creative Practice

    Deepfake technology, which has been around for less than a decade, is infamous for its malicious use in politics, entertainment, and business to imitate the likeness of individuals. However, some artists see generative AI as a tool no different from a paintbrush or camera and an opportunity to enhance existing modes of artistic production. Machine learning software, such as StyleGAN, Midjourney, and Runway ML, among many others, has been used by artists in the past few decades to explore the frontiers of art making.

  • Saudi Arabia advances renewable goals with 5,500 MW solar PPAs

    Saudi Arabia is set to add 5,500 megawatts of solar energy following the signing of three deals by its principal buyer, advancing its strategy to enhance renewable sources. The Saudi Power Procurement Co. finalized power purchase agreements worth SR12.3 billion ($3.3 billion) for three new solar photovoltaic projects with ACWA Power Co., Water & Electricity Holding Co., also known as Badeel, a wholly-owned subsidiary of the Public Investment Fund, and Aramco Power.

  • Ufc, Saudi Arabia Agree To Title Sponsorship Of UFC 306 At Sphere

    Saudi Arabia’s Riyadh Season, a state-managed entertainment festival launched in 2019, has reached an agreement to put its name on UFC 306, scheduled for Sept. 14 at Sphere in Las Vegas. Riyadh Season Noche UFC, as the event will now be called, is expected to be the first sporting event at the venue.

  • Riyadh dominates Saudi Arabia’s construction market

    Riyadh and its surroundings account for nearly 40 percent of the value of existing construction contracts in Saudi Arabia, at US$54 billion, according to new research. The provinces of Mecca – which includes Jeddah – and Tabuk in the north of the kingdom follow the capital region, with $28.7 billion and $28.5 billion in awarded contracts respectively, real estate consultancy Knight Frank said on Monday in its Construction Landscape Review – H1 2024.

  • Saudi sports push ‘winning global audiences’

    Carma found more than 50,000 articles covering football. “Media in every part of the world showed interest in the Saudi Pro League,” it said. Indonesia accounted for 15 percent of coverage, followed by the US at 12 percent.  Last August the Saudi professional football league sold broadcast rights to 12 networks across 130 countries for its 2023-24 season, after a huge spending spree on world-class players, including Cristiano Ronaldo, Jordan Henderson and Ruben Never.

  • Budget Saudi announces successful acquisition of Autoworld

    United International Transportation Company (“Budget Saudi” or the “Company”) (TADAWUL: 4260), the leading comprehensive mobility solutions provider in the Kingdom of Saudi Arabia (“KSA”), today announced that its shareholders have voted in favor of the acquisition of Al Jazira Equipment Company (“AutoWorld”), a SEDCO Holding owned vehicle leasing company, at the Extraordinary General Assembly (“EGA”) held on 24 June 2024. This landmark decision marks a significant milestone in Budget Saudi’s history and paves the way for strategic expansion in a dynamic market poised for healthy growth.

  • Difficulties Facing a US-Saudi Security Agreement

    Aligning Israeli and Saudi interests is hard enough without having to balance them against the domestic political buy-in that the Biden (or Trump) administration would need for every element of a normalization agreement to move toward implementation. The lack of any significant support from the current Israeli government makes it harder still to imagine that the bilateral aspects of a US-Saudi deal could go forward, albeit that a civilian nuclear agreement might be reached without requiring congressional approval and could function as a sequential step in a longer and more-drawn-out process.

  • Saudi Arabia Warns of Misleading Hajj Visa Practices by Foreign Companies

    Saudi Arabia has raised concerns about tourism companies from other countries misleading visa holders into taking part in the Hajj pilgrimage. Talal Shalhoub, security spokesperson for the Saudi Interior Ministry, announced on Monday that these companies issued visas not intended for Hajj and encouraged travelers to break regulations by arriving in Mecca two months ahead of the pilgrimage season, the Saudi Press Agency reported.