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Saudi Arabia Announces 66 New Initiatives as Part of Environmental Action Plan at COP 27
Saudi Arabia has announced 66 new initiatives as part of its environmental plan at the UN global climate change summit taking place in the Egyptian resort town of Sharm El-Sheikh, according to reports.
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2022 Global Cities Report finds huge leap in Riyadh’s Cultural Experience
Leading management consulting firm Kearney released its 2022 Global Cities Report assessing 156 cities around the world around the world across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement.
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Saudi Aramco Launches Sustainability Fund with $1.5b in Capital
Saudi’s state-owned oil company Aramco announced yesterday the launch of a venture capital fund that will focus on sustainability-related projects, according a press release from the company and reports.
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The Red Sea Development Company is Now ‘Red Sea Global,’ and Will Look to Expand Globally
The Red Sea Development Co., known as TRSDC, has rebranded to now be called Red Sea Global (RSG), the company announced during the sixth edition of Future Investment Initiative (FII) in Riyadh on Oct. 25.
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Saudi Arabia’s Crown Prince Mohammed bin Salman Launches National Industrial Strategy
Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Kingdom’s National Industrial Strategy, which aims to increase the industrial exports value to 557 billion riyals by 2030 ($148.34 billion), Reuters reports, citing the Saudi Press Agency.
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Aramco Commences Operations at Arabian Rig Manufacturing: Saudi Aramco’s JV to Manufacture Drilling Rigs in Kingdom for First Time
Saudi Aramco has launched Arabian Rig Manufacturing (ARM), a joint venture firm with American entity NOV, to manufacture drilling rigs and related equipment for the first time in Saudi Arabia.
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US’ Advent Technologies signs MoU with Saudi-based Hydrogen Systems; Saudi Wants Green Hydrogen Commitment from EU
US-headquartered Advent Technologies has signed a Memorandum of Understanding with Riyadh-based Hydrogen Systems “to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East,” Zawya reports.
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Ministry of Industry and Mineral Resources Awards License for Khnaighuiyah Mining Site
Saudi Arabia’s Ministry of Industry and Mineral Resources said on Wednesday that it had awarded a license to mine at the Kingdom’s prized Khnaighuiyah mining site, where zinc and copper deposits are estimated around 26 million tons, Reuters reports.
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Monsha’at Report — Number of SMEs in Saudi Arabia Grows 25.6% in 1H 2022
Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) said the number of registered SMEs in Saudi Arabia hit 892,063 in the first half of this year, registering a 25.6 percent increase from the fourth quarter of 2021.
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Saudi Arabia’s Non-Oil Exports Surge by 31% in Q2 to $23 Billion
Saudi Arabia’s non-oil exports surged by 31 percent in the second quarter to SR86.2 billion ($22.9 billion) from SR65.8 billion in the same period last year, the General Authority for Statistics, also known as GASTAT, said in a report.
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The UAE’s technology ambitions
In 2017, the United Arab Emirates (UAE) released a national strategy for artificial intelligence (AI) that declared its goal of becoming ‘the world leader in AI by 2031’. Since then, the government has invested billions of dollars and transformed the country into a centre for technological innovation and foreign investment, the latter notably coming from China and the United States.
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Archaeologists discuss latest findings from Al-Faw, Saudi Arabia’s newest World Heritage Site
The event, organized by the Saudi Heritage Commission, follows the addition in July of Al-Faw to UNESCO’s list of World Heritage Sites. It is the eighth location in the Kingdom to achieve this recognition. Ajab Al-Otaibi, director of the commission’s Archaeological Documentation and Research department talked about the ways in which recent discoveries have changed our understanding of ancient civilizations in the region. “The most recent excavations have revealed a complex network of trade routes and cultural exchanges that connected Al-Faw with other kingdoms in the Arabian Peninsula and beyond,” he said.
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Saudi embassy in US issues advisory to citizens on Hurricane Milton
The Kingdom’s embassy in the US issued an emergency advisory to Saudis in Florida and neighboring states as Hurricane Milton restrengthened to a Category 5 as it barreled toward the state on Tuesday. The embassy asked Saudis to follow guidelines by state authorities in Florida, Georgia and the Carolinas.
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Saudi Arabia’s Heritage Commission vows to protect archeological sites against violators
Saudi Arabia’s Heritage Commission stressed that it will stand firmly against people who tamper with archeological sites, taking legal measures against them and preventing any transgressions that pose a threat to the safety of the Kingdom’s heritage. In the past week, the commission observed several violations of the antiquities and urban heritage regulations in Al-Wajh governorate in the Tabuk region and referred 23 expatriates to the relevant authorities.
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Saudi Red Sea Authority set to attract 19 million tourists to Red Sea coast by 2030
The Saudi Red Sea Authority (SRSA) aims to develop a thriving coastal tourism sector in the Red Sea, contributing approximately SR85 billion to the GDP by 2030. This would capture 30 percent of the Kingdom’s leisure tourism and 40 percent of total entertainment spending, attracting 19 million tourists, and generating more than 210,000 jobs.
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Iran’s FM to visit Saudi Arabia amid hardliner backlash over Arab response to Gaza
Last Friday, for the first time in five years, reinforcing a message he has focused on recently: the unity of Muslim countries against the presence of the US and other Western powers in the region. Khamenei called for solidarity, stating, “We have to tighten the belt of defense... from Afghanistan to Yemen, Iran to Gaza and Lebanon, in all Islamic countries. That’s the first issue I wanted to discuss.”
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Saudi Arabia tops Arab cement producers, ranks 10th globally: Alkhorayef
Saudi Arabia ranks first in the Arab world and tenth globally in cement production, with an annual output capacity exceeding 80 million tons from 20 domestic factories, according to Minister of Industry and Mineral Resources Bandar Alkhorayef, as reported by the Saudi Press Agency (SPA).
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Atlético Madrid stadium rights bought by Saudi state airline
Saudi Arabia has consolidated its branding push with Atlético Madrid by paying for naming rights to the Spanish club's stadium for the next nine years. Atlético, which has been sponsored by Saudi state-owned Riyadh Air since last season, confirmed on Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033. Atlético did not say how much it was receiving for the new agreement "which makes the Saudi Arabian company the most important sponsor in the club's history."
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Inside Saudi Arabia’s Remarkable Logistics Transformation
The 2024 Agility Emerging Markets Logistics Index continues to rank Saudi Arabia highly across several key metrics and demonstrates the impact of the agenda set forth by Saudi Vision 2030. The country ranks sixth for ‘international opportunities’ in the logistics sector, up three places from 2023. When it comes to ‘business fundamentals’ and ‘digital readiness’, it ranks third and sixth respectively, showing how well the Kingdom matches up in the context of global logistics. Meanwhile, Saudi Arabia has risen 17 places in the World Bank's Logistics Performance Index and is set to host the Global Logistics Forum in Riyadh later this month, reflecting its growing status as a leader in the field.
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Saudi q-commerce Nana acquires Rasseed app
Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, Nana is a digital grocery shopping platform dedicated to fulfilling daily, weekly, and monthly household grocery needs. Meanwhile, Rasseed, founded in Saudi Arabia in 2016, is focused on providing software solutions to simplify the purchase of branded and local gift cards.
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