MUST-READS

• Saudi Defense Ministry Signs 19 Deals with Local, Global Companies at World Defense Show 2024

  The Saudi Ministry of Defense announced Tuesday that it had signed 17 contracts and two memoranda of understanding (MoUs) with local and international companies. The announcement was made on the sidelines of the World Defense Show 2024 in Riyadh. The contracts the ministry signed aim to raise the Armed Forces’ military readiness, enhance their capabilities, and improve their combat efficiency, in addition to contributing to supporting and localizing local manufacturing in line with the targets of the Saudi Vision 2030 of localizing more than half of spending on military equipment and services.

• The hopes and fears of employees across the Kingdom of Saudi Arabia

  Our 2023 Hopes and Fears Middle East survey revealed a young, ambitious and hyper-aware generation of employees who are comfortable with the rapid transformation around them. Drawing responses from 521 individuals in the KSA and over 1,500 in the region, the survey highlighted prominent themes, including the workforce’s enthusiasm to adopt new skills and positivity around AI and sustainability.

• China Grabs Spotlight With Major Presence at Saudi Weapons Show

  While US companies like Boeing Co. and Lockheed Martin Corp. dominated the World Defense Show in the Saudi capital of Riyadh this week, China’s presence dwarfed that of most other countries. Exhibiting for the first time under a single brand — China Defence — state companies displayed a range of weaponry from drones to anti-aircraft and ballistic missiles along with models of stealth fighter jets and amphibious assault ships.

• Saudi Arabia’s Modern Mills announces plan to list 30% in IPO

  Saudi Arabia's Modern Mills for Food Products said on Wednesday it is planning an initial public offering of 30% of its shares, the second flour mills company in the kingdom to seek a listing since the government privatised the industry. Modern Mills plans to sell 24.5 million shares on the Saudi Exchange, equivalent to 30% of its share capital, the company said in a regulatory statement on Wednesday.

• Saudi industry to produce ALAKRAN mobile mortar systems

  NTGS and the Kingdom of Saudi Arabia (KSA) defense conglomerate ERAF announced a partnership agreement aimed at localizing the production and integration of the ALAKRAN mobile mortar system on a suitable vehicle platform within the KSA. The agreement, signed by Juan Carlos Estrella, CEO of NTGS, and Fahad Al-Ameel, Vice-President of ERAF, signifies a strategic move in line with Saudi Vision 2030, aiming to enhance the economy by utilizing locally sourced parts and manpower. Under the agreement, ERAF will spearhead the local manufacturing process and exclusively market the ALAKRAN within the KSA, with the primary objective of supplying the KSA Armed Forces.

• The US and Saudi Arabia are taking COP28 pledges seriously

  Assuming COP28 pledges to limit global warming are met, both the energy and climate crises would be solved. According to the UN summit’s pled on renewables and energy efficiency, adopted last December in Dubai, “to limit warming to 1.5°C, the world requires three times more renewable energy capacity by 2030, and must double the global average annual rate of energy efficiency improvements from around 2% to over 4% every year until 2030”. But meeting these objectives will be a tall order.

• Desert X AlUla 2024: Exploring Unseen Art in Saudi Arabia’s Desert Region from February 9 to March 23

  Desert X AlUla will open its latest exhibition themed “In the Presence of Absence,” from February 9th to March 23rd, 2024. Featuring 15 commissioned artworks that explore the unseen, the festival takes place bi-yearly in the desert region of Saudi Arabia. This edition of Desert X AlUla is curated by Maya El Khalil, renowned for her art advisory and MENA-focused curation, and Marcello Dantas, an award-winning curator known for his interdisciplinary practices. Returning for its third edition, Desert X AlUla 2024 invites artists to engage with the landscape, nature, and heritage of AlUla. The exhibition aims to position AlUla as the hub for monumental art experiences in the region. This year’s theme, “In the Presence of Absence,” challenges the concept of deserts as “empty spaces.” Artists worldwide are encouraged to investigate conceptual ideas of the invisible, engaging in a dialogue with AlUla’s environment.

• NEOM unveils members-only beach club Xaynor

  Saudi Arabia’s NEOM on Wednesday announced a members-only beach club, Xaynor, located on the Gulf of Aqaba’s pristine coastline. In a statement, the giga-project said Xaynor offers a new area where members can enjoy the shores of the Gulf with an innovative architectural design and interiors. It will provide a perfect environment for leisure, relaxation, and socializing. The statement said: “Arriving in Xaynor, guests will be greeted by its breathtaking canopy entrance, blending with the natural landscape and providing a captivating pathway down to the beach.”

• A Statement from the Ministry of Foreign Affairs regarding the discussions between the Kingdom of Saudi Arabia and the United States of America on the Arab-Israeli peace process.
  A Statement from the Ministry of Foreign Affairs regarding the discussions between the Kingdom of Saudi Arabia and the United States of America on the Arab-Israeli peace process.

• Wall Street Snubs China for India in a Historic Markets Shift

  A momentous shift is under way in global markets as investors pull billions of dollars from China’s sputtering economy, two decades after betting on the country as the world’s biggest growth story. Much of that cash is now heading for India, with Wall Street giants like Goldman Sachs Group Inc. and Morgan Stanley endorsing the South Asian nation as the prime investment destination for the next decade.

• 10 of 60163 results<< 1 … 409 410 411 … 6,017 >>