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  • Saudi efforts to attract foreign educational companies and schools pay rich dividends

    These efforts received a shot in the arm with the latest move to formulate an ambitious program to facilitate the attraction of the best foreign companies and schools from abroad. Three Saudi government agencies, represented by the Ministry of Education, Ministry of Investment and the Royal Commission for Riyadh City, are working on this program, according to Abdulaziz Al-Fahd, chairman of the National Committee for Training and Private Education at the Federation of Saudi Chambers.

  • Saudi real estate: BlackRock signs major property financing deal

    The minister and his accompanying delegation are in the US to discuss ways to boost Saudi-American partnerships in the urban development, construction, building, finance and real estate development sectors. The agreement was signed by SRC CEO Majid Fahd Al Abduljabbar and General Manager of BlackRock in the Middle and CEO of BlackRock KSA Yazeed Al-Mubarak. BlackRock President Robert Capito attended the signing ceremony.

  • Saudi Telecom Jumps Most Since 2008 After Dividend Boost

    Shares in Saudi Arabia’s top telecom company rose the most in almost 16 years after the company announced plans to boost quarterly dividends and said it may consider handing over more money to investors via special payments. Saudi Telecom Co. jumped 9.9% on the Saudi stock exchange on Sunday to 43.70 riyals ($11.65) a share, its biggest move on a closing basis since October 2008.

  • US return of offensive weapons sales to top customer Saudi Arabia set to boost revenue

    The Biden administration reversed the three-year-old policy this month, which was originally meant to pressure the kingdom over its involvement in the Yemen war – a move that the US may now be regretting given its own need to curb the Houthis now. Saudi Arabia – the main recipient of US arms exports from 2019-2023, according to the Stockholm International Peace Research Institute (Sipri), could boost revenue that made up 15 per cent of total US global arms exports at the time.

  • Incredible photos reveal 75-mile canyon for £800 billion futuristic city

    Also known as The Line, it aims to create a 75-mile long futuristic city that prioritises pedestrians and green spaces while minimising environmental impact. Once completed, it is set to feature towering skyscrapers, an artificial mountain and ski resort, an octagonal floating port, a dedicated swimming lane for commuters as well as a sophisticated AI and robots network designed to serve its uber-rich residents.

  • Saudi Arabia’s Public Investment Fund (PIF) boosts economic diversification

    Saudi Arabia's Public Investment Fund (PIF) has managed to double the value of its investment portfolio aimed at developing and enhancing emerging sectors, reaching 943 billion Saudi Riyals (equivalent to EUR 231 billion) by the end of 2023.  This significant increase reflects a key strategy to strengthen its role in the Kingdom's economic transformation and diversification of its revenue sources, thereby reducing dependence on oil.

  • Commentary: OPEC’s and Saudi Arabia’s moment of truth

    In the next few weeks, Saudi Arabia and its OPEC allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook. The recent slides in front-month Brent futures prices, calendar spreads and refinery margins, amid concerns about the outlook for petroleum consumption, have dramatised the danger of getting it wrong. Boosting production despite downward revisions to consumption growth and a continued output increases from rivals in the United States, Canada, Brazil and Guyana risks another accumulation of inventories and a slump in prices.

  • Turki Al-Sheikh unveils theme of 94th Saudi National Day

    Advisor Turki Al-Sheikh, chairman of the General Entertainment Authority (GEA), announced on Thursday the theme of Saudi Arabia’s 94th National Day, which falls on September 23 each year. The theme “We dream, we achieve,” carried over from last year, highlights the significant projects related to the Saudi Vision 2030 and showcases the Kingdom’s leading role in various fields.

  • Hornets defender Hoedt makes Saudi switch

    Watford Player of the Year Wesley Hoedt has left the club to join Saudi Pro League outfit Al-Shabab. The 30-year-old - who has won six caps for the Netherlands - joined the Hornets from Belgian side Anderlecht in January 2023. Hoedt made himself a fans' favourite with a goal on his debut against Blackburn and went on to play 15 times in 2022-23, then every minute of 48 games last season, wearing the captain’s armband on 32 occasions.

  • Israel and Hezbollah in major missile exchange as escalation fears grow

    Hezbollah launched hundreds of rockets and drones at Israel early on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack, in one of the biggest clashes in more than 10 months of border warfare. Missiles were visible curling up through the dawn sky, dark vapour trails behind them, as an air raid siren sounded in Israel and a distant blast lit the horizon, while smoke rose over houses in Khiam in southern Lebanon.