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  • Saudi minister warns against climate action at expense of the less empowered

    Saudi Arabia's energy minister said on Thursday that climate change solutions should not come at the expense of "less empowered people". "Climate change is crucial, important, but it should not be attended to by crushing the bones and the future of the less empowered people," Prince Abdulaziz bin Salman said at the Saudi-Arab-African Economic Conference in Riyadh.

  • Microsoft Chairman underlines AI power at Saudi event

    Microsoft Chairman and Chief Executive Officer, Satya Nadella hailed Saudi organisations’ efforts at employing artificial intelligence (AI) to drive innovation and generate economic opportunities, during his visit to the kingdom on November 6. While speaking at the ‘Microsoft AI, a New Era’ event, Nadella met local business leaders, government officials and developers, and emphasised the role of AI in unlocking new opportunities to accelerate the Kingdom's digital economy and transform the lives of its people.

  • Analysis: 2034 World Cup in Saudi Arabia marks sporting and cultural power shift to Asia

    For just the third time in the tournament’s existence, the FIFA World Cup is coming to Asia, with Saudi Arabia the only confirmed bidder for the 2034 tournament — marking what appears to be a shifting of international sporting and cultural power to the continent.

  • Saudi Aramco VC Fund Backs AI-Powered Cybersecurity Startup

    Saudi Aramco’s venture capital arm has invested in SpiderSilk, a United Arab Emirates-based startup that offers AI-powered cybersecurity services. Aramco’s $500 million venture fund, Wa’ed Ventures, took the lead in a $9 million round that included Riyadh-based Saudi Technology Ventures and Dubai’s Global Ventures. The new capital is intended to support SpiderSilk’s technology offerings in Saudi Arabia, the company said in a statement. SpiderSilk has worked with Lenovo Group Ltd., Panasonic Holdings Corp. and parts of Samsung Group, according to its website.

  • The Cost of Electrifying the Saudi Rail Network – What Are the Power Infrastructure Costs?

    This data insight takes a closer look at the costs associated with developing the necessary power infrastructure in order to electrify the existing and future rail networks in Saudi Arabia. Calculating these costs allows policymakers to better understand the capital costs and maintenance costs of building substations and other ancillary infrastructure across KSA in order to operate an electrified rail network.

  • Saudi Arabia explores women’s buying power with 30% entering work force

    Greater education levels and a decline in the number of births per Saudi woman, from over seven in the 1970s to 2.8 according to the latest census, are also contributing factors. “In general, the fewer children a woman has, the more she’s able to participate in the workforce.” S&P Global said in September 2023. Demah Banajah, 28, a business analyst in Jeddah who has been working since 2016, told Al-Monitor, “Just 30 years ago,, the default aspiration of most Saudi teenage girls was to become moms. ... For the new generation it is no longer about whether to work or not, it is what profession I want. My nieces and nephews even question why their moms don't work. For them it is weird if you stay at home!”

  • Saudi Arabia explores women’s buying power with 30% entering work force

    Greater education levels and a decline in the number of births per Saudi woman, from over seven in the 1970s to 2.8 according to the latest census, are also contributing factors. “In general, the fewer children a woman has, the more she’s able to participate in the workforce.” S&P Global said in September 2023. Demah Banajah, 28, a business analyst in Jeddah who has been working since 2016, told Al-Monitor, “Just 30 years ago,, the default aspiration of most Saudi teenage girls was to become moms. ... For the new generation it is no longer about whether to work or not, it is what profession I want. My nieces and nephews even question why their moms don't work. For them it is weird if you stay at home!”

  • Saudi-led teams win $7.8bn power contracts

    Saudi Arabia’s principal power buyer, Saudi Power Procurement Company (SPPC), has awarded contracts to develop and maintain four thermal independent power producer (IPP) projects in the kingdom. The four plants will use combined-cycle gas turbines (CCGT) and are valued at a combined estimate of SR29.2bn ($7.8bn).

  • Saudi-led teams win $7.8bn power contracts

    A consortium of Saudi Electricity Company and International Company for Water & Power Projects (Acwa Power), both local, won the contracts to develop the 1,800MW Taiba 1 IPP and 1,800MW Qassim 1 IPP. A team comprising the local Al-Jomaih Energy & Water, France’s EDF and the local Buhur for Investment won the contract to develop the 1,800MW Taiba 2 IPP and 1,800MW Qassim 2 IPP.

  • Saudi Arabia Needs to Invest Hundreds of Billions of Dollars for Power by 2030

    Saudi Arabia will need to attract investment in the hundreds of billions of dollars this decade to expand renewable energy and natural gas-fired electricity to meet its generation capacity targets, according to the head of Riyadh-based ACWA Power Co.

    The project will require building 60 to 80 gigawatts of power plants using renewable sources like wind and solar and about 30 GW of gas-fired plants, ACWA Power Chief Executive Officer Marco Arcelli said in an interview in the Saudi capital. ACWA Power is mandated to take part in developing 70% of Saudi Arabia’s renewable energy needs.