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  • Iran’s Pezeshkian says ‘no place for hostility’ with Saudi Arabia, ready to visit Riyadh

    Iranian President Masoud Pezeshkian expressed at a press conference in Tehran on Monday his willingness to improve Iranian-Saudi relations, calling the two nations "brothers" and adding that he would visit Riyadh when the opportunity presented itself.  In his first press conference since assuming office in July, Pezeshkian spoke about the possibility of Saudi Crown Prince Mohammed bin Salman visiting Iran. “We are brothers, so there is no place for hostility. I welcome any move that can solve the differences between Muslims,” he told the press.

  • PGA Tour’s Saudi Deal Drags On With Players Arguing Over Pay

    PIF representatives met with PGA Tour officials in New York last week, and an agreement over the financial details inched closer, according to people familiar with the situation. In the months leading up to the latest discussions, talks had failed about how to reintegrate players who ditched the PGA Tour to play for LIV and ensure some financial parity, according to people familiar with the situation.

  • Saudi Arabia approves first exchange-traded funds tracking Hong Kong-listed equities

    Saudi Arabia has granted approval for its first exchange-traded funds (ETFs) tracking equities listed in Hong Kong on Tuesday, the Capital Market Authority (CMA) said, marking the debut of such a product in the Middle East. The move follows efforts by Beijing and Hong Kong to deepen ties with Arab countries in response to escalating tensions with the West.

  • Saudi sovereign wealth fund PIF to invest $5bn in Egypt

    Egypt said the $5 billion injection would be the “first phase” of Saudi investments through its Public Investment Fund. The announcement came after a meeting between Prince Mohammed and Egyptian Prime Minister Mostafa Madbouly in Riyadh. The investment would be the latest major injection of cash the North African country has received while it recovers from its economic crisis. The International Monetary Fund and the UAE have provided most of the funding to help support Egypt's economy.

  • Saudi investment licenses for Egyptian firms double in 2024, says minister

    At a meeting with Egyptian Prime Minister Mostafa Madbouly, organized by the Federation of Chambers in Riyadh, Saudi Investment Minister Khalid Al-Falih underscored Egypt’s increasing role as a key economic partner for the Kingdom. This follows Saudi Arabia’s exports to Egypt totaling $6.44 billion in 2022, while Egypt’s exports to the Kingdom reached $2.35 billion, as reported by the Observatory of Economic Complexity.

  • Neom Beach Games 2024 brings sport to Saudi’s gigaproject

    The tournament kicks off with a triathlon on 3 November, 3×3 basketball from 7 to 9 November, beach soccer from 13 to 16 November and mountain biking from 18 to 22 November. A new addition to this year’s NEOM Beach Games is the World Aquatics Open Water Swimming World Cup NEOM. The event will bring together the world’s top open-water swimmers and serve as the grand finale of the NEOM Beach Games, taking place in the Red Sea.

  • Saudi Arabia’s cultural renaissance under spotlight at Riyadh forum

    A five-day cultural forum organized by Fenaa Alawwal in Riyadh’s Diplomatic Quarter, and co-curated by Afikra, is exploring the theme “Introspection: the role of contemporary art practices in a time of change.” The inaugural Muntada Forum of Contemporary Art Practices opened on Sunday night and will have five panel discussions during its run until Sept. 19. There are 24 creatives exploring a diverse range of topics, which includes the role of Saudi Arabia’s artists in shaping the Kingdom’s global image.

  • Aramco’s New Deals With China Signal A Further Deepening Of Sino-Saudi Relations

    The genesis of the broader and deeper relationship between Saudi Arabia and China was not the establishment of diplomatic relations between the two countries on 21 July 1990. Rather, it was more likely the offer made by China to buy the entire 5 percent in a private placement of Saudi Aramco that was being touted for sale in an initial public offering (IPO) from late-2016/early-2017, according to several industry sources.

  • Saudi Red Sea Authority’s first regulations for Saudi yachts

    In line with SRSA's mandate to promote coastal tourism, the regulation specifies the criteria for obtaining technical licenses for leisure tourism, as well as requirements for yacht owners and authorised tourism maritime agents. Yacht chartering licenses are another critical element, with stipulations that a licensed maritime agent or yacht management company must oversee charters, alongside strict guidelines on safety, contracts, and marina access.

  • SMEs account for 90% of Saudi industrial sector: Minister

    The industrial base in most countries consists of small and medium-sized enterprises (SMEs), Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said during an interview at Monsha'at Support Council in Riyadh. He added that SMEs dominate 90% of the industrial sector in Saudi Arabia.