MUST-READS

• Saudi Firm Jadwa Raises $266M at First Close of Blind-pool PE Fund

  Jadwa Investment announced the first close of GCC Private Equity Fund 1, the Riyadh, KDS-based firm’s first regional blind-pool private equity fund, with a total of SAR 1B ($266M) in commitments. Fund I aims to invest in diversified opportunities in private equity across the Gulf Cooperation Council states. The fund has completed three investment projects in the retail and food-and-beverage industry and expects to be fully invested over a three-year deployment period.

• Perspective: Middle East looks to Saudi Arabia to rein in Donald Trump

  After Trump named a number of ardently pro-Israeli nominees and Iran hawks for key positions, Arab officials worry his incoming administration might approve any moves by Israel to annex the occupied West Bank, occupy Gaza or escalate tensions with Tehran. But they hope Riyadh can temper the incoming administration’s policies in the region by leveraging Crown Prince Mohammed bin Salman’s relationship with Trump, the president-elect’s appetite for financial deals and his expected desire to strike a “grand bargain” that would lead Saudi Arabia and Israel to normalise relations. “The key player in the region is Saudi Arabia because of their known relations with him, so it will be the linchpin of any regional actions the US might decide to do,” said an Arab diplomat.

• Saudi Arabia Gives First Look at Planned 2034 World Cup Soccer Stadium

  Saudi Arabia unveiled plans on Tuesday for the King Salman International Stadium, a 92,000-seat venue designed to host the opening and final matches of the 2034 FIFA World Cup. Located in northern Riyadh, the stadium will be the largest in the country and is scheduled for completion in 2029. The design, inspired by Saudi Arabia's natural landscape, is intended to symbolize growth and development. Each venue is envisioned as a "seed" germinating within the region's environment. Global architecture firm Populous is leading the project. "The design philosophy reflects a commitment to cutting-edge infrastructure while paying tribute to the intrinsic connection between sustainable development, human activity, and the natural world," said Shireen Hamdan, general manager of Populous KSA.

• Ukraine, Middle East conflicts eating into US air defense stocks, US admiral says
  Conflicts in Ukraine and the Middle East are eating into U.S. stockpiles of air defenses, the top U.S. admiral overseeing American forces in the Asia-Pacific region said on Tuesday. The admission by Admiral Sam Paparo could draw the attention of members of President-elect Donald Trump's incoming administration, who are more skeptical of the war in Ukraine and who argue that President Joe Biden has failed to prepare for a potential conflict with China.

• US envoy in Beirut for talks after Lebanon, Hezbollah approve truce draft
  U.S. envoy Amos Hochstein landed in Beirut on Tuesday for talks with officials on a truce between armed group Hezbollah and Israel, Lebanon’s state news agency said, hours after a proposal drafted by Washington [USN:L8N3MP1Q8 TEXT:“won a nod”] from the Iran-backed group. The visit indicates progress in U.S.-led diplomacy aimed at ending a conflict which spiralled into all-out war in late September, when Israel launched a major offensive against Iran-backed Hezbollah.

• Riyadh Air: Saudi airline to recruit ‘top talent in the Kingdom’ as it gears for launch

  Saudi Arabia’s new airline Riyadh Air will focus on recruiting top talent from inside the Kingdom, prioritizing hiring Saudi female graduates, before its launch next year, a senior official told Al Arabiya English. The airline plans to connect more than 100 destinations by 2030 and aims to contribute to Saudi Arabia’s Vision 2030, which seeks to position the Kingdom as a global aviation hub and major tourism destination, Osamah Alnuaiser, SVP Marketing & Corporate Communications, said.

• Alfanar Projects, SEC sign $5.33bn deals to support Saudi energy modernization

  Energy deals worth SR20 billion ($5.33 billion) have been signed between Alfanar Projects and Saudi Electricity Co. to advance the Kingdom’s power modernization and sustainability efforts. The agreements, announced during the Energy Localization Forum hosted by the Ministry of Energy, include the construction of the Middle East’s largest High-Voltage Direct Current Converter Station, according to a press release.  This facility, developed in partnership with China Electric Power Equipment and Technology Co., will deliver 7 gigawatts of power between the Central, Western, and Southern regions.

• Saudi Arabia says Israeli aggression in Gaza, Lebanon pushing region to wider war

  Israel’s aggression in Gaza and Lebanon is pushing the region to a wider war, Saudi Arabia’s Minister of Foreign Affairs Prince Faisal bin Farhan told the opening session of the G20 Summit in Rio de Janeiro on Monday. “The ongoing Israeli aggression in Gaza and Lebanon has caused unprecedented levels of human suffering, pushing the region to a wider war and undermining the credibility of international law and institutions,” Prince Faisal said in his opening speech during a session.

• Saudi Arabia to Develop Electricity Storage Systems in Uzbekistan

  Saudi company ACWA Power has signed an agreement with Uzbekistan to build electricity storage systems with a total capacity of 2,000 MWh. The deal was finalized during the COP-29 climate conference in Baku, Azerbaijan, The Caspian Post reports citing foreign media. Under the agreement, ACWA Power will collaborate with Uzbekistan’s Ministry of Energy to develop energy storage systems across the country. The implementation will be based on a comprehensive analysis of the national grid’s condition. The project will begin with feasibility studies to determine the most suitable regions for phased deployment.

• Saudi Arabia to expand teaching of China language with 800 more teachers amid growing demand
  Saudi Arabia is set to expand the teaching of the Chinese language by creating 800 teaching positions, amid the growing demand for learning the Chinese language in the Kingdom. According to China’s official news agency, Xinhua, the planned appointment of the 800 new teaching roles aligns with the spread of Chinese language classes across Saudi Arabia’s primary and middle schools. The move follows the recent successful deployment of 175 Chinese language teachers in the Kingdom, who reportedly began teaching last month. It is part of a landmark agreement struck in 2023 between Riyadh and Beijing in an effort to strengthen bilateral cooperation in language education.

• 10 of 61170 results<< 1 … 7 8 9 … 6,117 >>