MUST-READS

• Ancient Saudi city to get world’s longest battery-powered tram
  The AlUla Experiential Tramway will run 22km with 17 stations.
  It will link five historical districts in the ancient oasis city, which is located on the Red Sea coast in Medina province.
  The company is also supplying 20 of its Citadis trams, equipped with Mitrac B batteries, and what Alstom describes as its “fast and invisible ground-based static charging system”.

• Why Saudi Arabia and the UAE may sit out new US-led Red Sea initiative

  When it was first announced on Dec. 18, the US Defense Department said 10 countries would be participating in Prosperity Guardian: the US, the United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain. Three days later, Pentagon Press Secretary Pat Ryder said as many as 20 nations had said they would back the initiative, though some of the original nations, like Spain and Italy, later put out public statements that appeared to distance themselves from it. (The Combined Maritime Forces, under which the new effort falls, is made up of 39 international partners, including KSA and the UAE.)

• Saudi Arabia: SDAIA publishes guide on generative AI

  On December 20, 2023, the Saudi Data & Artificial Intelligence Authority (SDAIA) announced the publication of a guide on generative artificial intelligence (AI) in an effort to raise the level of awareness about the importance of AI technologies.

• New Bills Aim To Block U.S. Arms Sales To Saudi Arabia, Uae Amid Concerns Of Regional Conflict

  REP. ILHAN OMAR is introducing two pieces of legislation to block U.S. arms sales to Saudi Arabia and the United Arab Emirates, citing atrocities committed by both countries. The U.S. made high-profile sales to both countries in December, shoring up their offensive capabilities amid the possibility of a regional war and a growing risk of confrontation with Yemen’s Houthis.

• Saudi Arabia is set to open first financial center with unified policies and guides

  Abdul Aziz Al-Furaih, chairman of the Steering Committee at the Ministry of Finance, revealed on Tuesday that Saudi Arabia is set to opening the first financial center based on an integrated system of unified and harmonized standards, policies and guides at the national level. This is regarded as a step that increases the efficiency of the government’s financial and accounting performance, he said.

• LIV Golf ‘exposed flaws’ within the PGA Tour, Rory McIlroy says

  LIV Golf has “exposed flaws” in the PGA Tour, especially how it deals with corporate sponsorships and player commitments, Rory McIlroy told Sky Bet’s “Stick to Football” show. Several major corporations have backed away from the PGA Tour in the last year in the face of increased purses. “What LIV and the Saudis have exposed is that you have a tour and you’re going and asking sponsors for millions of dollars to sponsor these events and you’re not able to guarantee those sponsors the players that are going to show up,” McIlroy said. “It’s very hard. I can’t believe they’ve done so well for so long.”

• McIlroy says he was too judgmental of LIV golfers

  Four-time major champion Rory McIlroy says he regrets being too quick to judge players who joined the Saudi Arabia-backed LIV Golf and now accepts it is part of the sport. The Northern Irishman has been a vocal critic since the breakaway tour launched in 2022 and signed up a host of big names, causing a rift that threatened to tear golf apart. McIlroy previously accused some of those who jumped ship as being duplicitous and that he would rather retire than join LIV.

• Saudi Arabia finalizes $250m aid package to Jordan

  Saudi Arabia has completed a $250 million support package to Jordan, the Saudi Press Agency reported on Tuesday. The deal, agreed at the Makkah Summit in 2018, was to provide financial aid over a period of five years to help bolster Jordan’s economy. The final installment involved a sum of $38.6 million. Zeina Touqan, minister of planning and international cooperation, expressed her country’s gratitude to Saudi Ambassador to Jordan Nayef Al-Sudairi and the head of the General Department of International Development Cooperation in the Saudi Ministry of Finance, Abdulmohsen Al-Mutawa.

• Why the Navy isn’t shooting down Houthi drones with lasers yet

  The Navy isn't having much trouble swatting down the Houthis' Iranian-made drones, even when they're launched by the dozen. But the Pentagon is beginning to worry about using $11 million interceptor missiles to take out drones that can cost as little as a few thousand dollars That price disparity is why the military started seeking lasers and other directed-energy weapons, which promise cheap, all-but-unlimited "magazines" to intercept drones in large numbers. The United States has already deployed lasers aboard ships effectively, beginning with the USS Ponce in 2014.

• Saudi Arabia’s sovereign wealth fund overtakes Singapore’s GIC to top spending table

  Saudi Arabia’s Public Investment Fund (PIF) was the top spender among global sovereign wealth funds last year, accounting for about a quarter of the $124 billion splashed by state-owned investors, according to a preliminary report by research consultancy Global SWF. The Saudi fund boosted its deal activities from a total $20.7 billion in 2022 to $31.6 billion in 2023, the research said, even as most other counterparts tapered down their spending. Overall, global sovereign wealth funds deployed 20% fewer funds compared to 2022, despite most major stock markets seeing a rally last year.

• 10 of 60284 results<< 1 … 491 492 493 … 6,029 >>