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  • Saudi Camel Owners Shine at This Year’s Camel Racing Federation Cup

    Saudi camel owners continue their strong performance at the fourth edition of the Saudi Camel Racing Federation Cup, held in Najran from October 1 to 5. So far in the competition, Saudi Arabia secured 10 cups, the UAE claimed five cups, and Qatar won one cup. Saudi camels also led in the overall standings, winning 71 out of 104 rounds held over the four days. Qatar came in second with 14 rounds, followed by the UAE with 12. Kuwait and Bahrain each won three rounds, while Oman secured one round.

  • National heritage will be ‘biggest driver’ of Saudi economy

    National heritage will be the biggest driver of the economy under Saudi Vision 2030, said Prince Sultan bin Salman, special adviser to King Salman and founder and chairman of the nonprofit Al-Turath (Heritage) Foundation. He was speaking at the foundation’s annual meeting held under the theme “Confident Steps Toward the Future” at the Riyadh International Book Fair, the Saudi Press Agency reported.

  • Saudi Arabia’s official reserves highest in 21 months at $470bn

    Saudi Arabia’s official reserve assets reached SR1.76 trillion ($469.83 billion) in August, the highest in 21 months and a 10 percent increase year-on-year, according to recent data. Figures released by the Saudi Central Bank, known as SAMA, show these holdings include monetary gold, special drawing rights, the International Monetary Fund’s reserve position, and foreign reserves.

  • Saudi Arabia’s PIF mulls larger stake in Nintendo, Kyodo reports

    Saudi Arabia's Public Investment Fund (PIF) is considering raising its stakes in Nintendo (7974.T), opens new tab and other Japanese gaming companies, Kyodo News reported on Saturday. Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the sovereign wealth fund's gaming unit, disclosed the plan in an interview with Kyodo. He told the Japanese news agency that PIF is not in a rush to increase its stakes, and that investments would be made in a friendly way.

  • Frankly Speaking: How Fareed Zakaria views change in Saudi Arabia

    Elaborating on the point, Zakaria said: “The role of women really has been transformed, but there are some areas, for example, where there’s still the requirement and encouragement that Saudis dress in traditional clothes. So, Saudi Arabia is trying to balance this in a way that doesn’t become too revolutionary.” Overall, he said referring to the change, “when you look at it in historical terms, clearly this will be seen as a revolution, but it’s a revolution that is being played out in an incremental way, in an organic way … so that the changes are not so overwhelming.”

  • Saudi Arabia Plans To Allow More I.A.E.A. Oversight Of Nuclear Facilities

    The I.A.E.A.’s S.Q.P. allows developing states, specifically countries with little or no nuclear material, to be exempt from many standard inspections and transparency requirements. The I.A.E.A. defines the C.S.A. as a legally binding commitment with multiple safeguards in place to monitor countries’ nuclear materials and conduct surprise inspections and verification to ensure “nuclear material remains in peaceful activities.” C.N.B.C. reported that Saudi Arabia’s pledge to stop using the S.Q.P. seems to encourage greater nuclear and atomic oversight by I.A.E.A. inspectors, which may be crucial as the Kingdom makes efforts to be a larger player in the global theater.

  • Nearly 10 Billion SAR Spent By Visitors In Saudi During First Half of 2024

    The Ministry of Tourism announced a massive 8.2% jump in spending by foreign visitors in the first half of 2024 compared to last year. Plus, there’s a travel account surplus of SR41.6 billion! This surge in spending is just part of the Kingdom’s exciting tourism boom. Saudi Arabia even topped the G20 list for growth in international visitors and tourism revenue during the first seven months of 2024, beating 2019 levels, according to the UN World Tourism Organization.

  • Saudi Arabia Raises Asia Oil Price as Volatility Grips Market

    State producer Saudi Aramco increased the official selling price of its main Arab Light crude grade by 90 cents to a premium of $2.20 a barrel against the regional benchmark for buyers in Asia, according to a price list seen by Bloomberg. The company was expected to boost the premium by 65 cents a barrel, according to a survey of traders and refiners.

  • New $100 Million Saudi Film Fund Chief Talks Need for Investments in Production and Infrastructure

    Saudi Arabia in September launched a $100 million film fund aimed at attracting investments from global film studios to help fuel the kingdom’s rapidly growing local film industry. The Saudi Film Fund – as the fund is known – sees Saudi’s Cultural Development Fund making a 40% investment in collaboration with investment bank MEFIC Capital and specialized holding company Roaa Media Ventures, which is its technical partner.

  • Countdown to Middle East war? How the region can step back from the brink

    With Israel poised to attack Iran, having already blindsided friends and foes alike with its blitz against Lebanon's Hezbollah movement, all the talk is of an inexorable slide towards a new, pan-Middle Eastern war. Yet brakes remain to halt a regional fall into a wider conflagration that would lock Israel and Tehran into escalating conflict and suck in other nations, according to several people with experience in intelligence and military decision-making.