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Manhattan, Reimagined: Saudi Arabia Applies ‘The Line’ Concept to New York City
NEOM has released a video showing what New York City and the island of Manhattan might look like if it were to be designed in the same concept as The Line, the Kingdom’s planned ultra-futuristic new city.
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KAPSARC Study: Saudi Arabia’s Economy is Expected to be 60% More Resistant to Oil Shocks by 2030
Saudi Arabia’s GDP is estimated to become 60% more resilient to oil price shocks by 2030, according to a new study by the King Abdullah Petroleum Studies and Research Center (KAPSARC).
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Saudi Arabia’s NEOM Sets Target Date of 2026 for First Production of Green Hydrogen
Saudi Arabia’s giga project NEOM will start producing as much as 650 tons per day of green hydrogen in 2026, according to comments made by the CEO of NEOM Industrial City (OXAGON) at the Saudi International Iron and Steel Conference in Riyadh.
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Saudi Arabia’s New Airline ‘RIA’ Reportedly to Launch Soon with $30 Billion to Take On Regional Rivals
Saudi Arabia is in the final stages of launching its multi-billion-dollar new international airline, which sources say is likely to be branded “RIA,” according to an exclusive Arabian Business report.
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Saudi Arabia Eyes Hosting Olympics as ‘Ultimate Goal’ of Growing Sports Portfolio
Fresh off of hosting the boxing heavyweight title fight in Jeddah this weekend, Sports Minister Prince Abdulaziz bin Turki Al-Faisal stated that Saudi Arabia has the “ultimate goal” of hosting the Olympics while it continues to develop a local sports industry and attract international events, according to an interview with the AFP and reported in Al […]
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Deputy Minister of Investment for Saudi Arabia Dr. Saad Alshahrani joins The 966, The IMF’s report on Saudi’s economy, and much more
Episode 58! Dr. Saad Alshahrani, Deputy Minister for economic affairs and investment studies at Saudi Arabia’s Ministry of Investment joins The 966 to talk about the Saudi economy, investment opportunities, and reforms in the Kingdom. Dr. Saad also shares his story of studying in the U.S. and journey to becoming a deputy minister. Before the […]
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Saudi Arabia Announces New Permit Requirement for Content Creators, Social Media Influencers
Saudi Arabia will require all social media users and content creators who are monetizing their posts and stories to apply for and receive a permit from the Kingdom’s General Commission for Audiovisual Media (GCAM), a report in Arab News said.
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Saudi Arabia’s Economy Expanded 11.8% in the Second Quarter; Non-Oil PMI Rises to 8-Month High — Jadwa Investment
Saudi Arabia’s economy expanded 11.8% in the second quarter of 2022, Bloomberg reports, maintaining the fastest pace of growth since 2011 as oil prices boost the Kingdom’s economy. Beyond oil, however, Saudi Arabia is seeing positive signs in the non-oil economy as the Kingdom continues apace with economic reforms as part of the Kingdom’s Vision 2030.
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A Special Edition of The 966: Reviewing President Biden’s Visit to Saudi Arabia with Jon Alterman, David Des Roches, and Hussein Ibish
A very special edition of The 966 for Episode 53: The 966 has lined up three experts to discuss their reactions to President Biden’s visit to Israel and Saudi Arabia and a renewed U.S. focus on the Middle East region. Hussein Ibish, columnist for Bloomberg, Dr. Jon Alterman from the Center for Strategic and International […]
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Saudi Arabia’s Ports Cargo Volume Jumps in June
Saudi Arabia’s ports witnessed a 16.1 percent increase in cargo throughput volumes in June 2022 compared to the same period a year before, according to a report in Arab News, citing the latest release by the Saudi Ports Authority, also known as Mawani.
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Djibouti dodges scrutiny despite China, Iran, Houthi ties and links to illicit activities
The Bab el-Mandeb Strait, which connects the Indian Ocean and the Red Sea through the Gulf of Aden, is a crucial chokepoint for global maritime commerce. It handles as much as 20% of international trade, 12% of seaborne oil trade, and 8% of liquefied natural gas shipments. Despite the strait’s importance, the waters around it have long been plied by smugglers of weapons and other illicit goods, dating back as far as the late 1800s, when the French took control of what is now Djibouti.
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As US ramps up Gaza ceasefire efforts, Iran signals it may hold off retaliation
A day after the United States, Egypt and Qatar said they would convene last-ditch Gaza ceasefire talks between Israel and Hamas on August 15, Iran signaled that it may be willing to delay its anticipated retaliation for the assassination of a Hamas leader in Tehran late last month so as not to interfere with that effort.
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Saudi Arabia unveils updated investment law to facilitate foreign investors
The updated law promises enhanced protections for investors, including adherence to the rule of law, fair treatment, and property rights, while ensuring robust safeguards for intellectual property and facilitating smooth fund transfers. It streamlines the registration process, replacing complex licensing requirements with a simpler system, and introduces new service centers to expedite government transactions and investment procedures.
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Saudi swimmer Zaid Al Sarraj reflects on ‘surreal’ Olympic debut
At just 16 years old, Zaid Al Sarraj was the youngest member of Saudi Arabia’s Olympic team for the 2024 Games. As a wildcard entry in the 100-meter freestyle swimming, Al Sarraj’s involvement in Paris was always designed to be a learning experience; the teenager certainly appeared unfazed by the responsibility of representing his country in the world’s biggest sporting showcase.
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Saudi Arabia approves investment law update to level field for foreign and local investors
The Council of Ministers on Sunday approved an updated investment law into one framework intended to provide investors with greater transparency, flexibility and confidence, Saudi Arabia's Ministry of Investment said in a statement on Sunday. “The law reaffirms Saudi Arabia’s commitment to creating a welcoming and secure environment for investors, driving economic growth, and enhancing the kingdom’s position as a premier global investment destination,” Khalid Al Falih, Minister of Investment, said.
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Saudi Arabia supports joint statement on Gaza ceasefire and humanitarian crisis
The Ministry of Foreign Affairs expressed Saudi Arabia's support for the joint statement issued by President Joe Biden of the United States, President Abdel Fattah El-Sisi of Egypt, and Sheikh Tamim bin Hamad Al-Thani, Emir of Qatar. The Kingdom reaffirmed its backing for ongoing efforts to establish a ceasefire and address the worsening humanitarian crisis in Gaza. Saudi Arabia emphasized the urgency of ending the bloodshed, alleviating suffering, and safeguarding civilians. Additionally, the Kingdom stressed the importance of advancing toward the end of the occupation, achieving peace and security, and restoring the full legitimate rights of the Palestinian people.
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Expat remittances from Saudi Arabia hits $3.2bn in June
Expatriate remittances from Saudi Arabia reached $3.2 billion in June, reflecting an annual increase of 11.32 percent, according to the latest data from the Saudi Central Bank, also known as SAMA. This figure underscores the Kingdom’s significant role in global remittance flows and is a testament to the economic dynamics influencing the region.
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Saudi Arabia signs IAEA protocol as nuclear plans advance
Saudi Arabia has inched closer to obtaining US help to develop a nuclear energy programme by signing a protocol that ensures the International Atomic Energy Agency (IAEA) has legal rights to operate inside the kingdom. However an agreement to the inspection of nuclear facilities by the Vienna-based supervisory body, including a protocol that would allow snap visits, remains outstanding. “As nuclear activities are poised to grow in Saudi Arabia, facilitating the work of IAEA staff as they carry out duties is key,” IAEA Director General Rafael Mariano Grossi posted on X, formerly Twitter, on August 7.
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Saudi Arabia sees surge in cancer cases, Riyadh tops the list
Saudi Arabia has reported approximately 22,000 cancer cases, with breast cancer being the most common type, according to Dr. Mushabib Al Asiri, Director General of the National Cancer Centre, with Riyadh leading the Kingdom in cancer cases. Dr. Al Asiri noted that the Saudi Oncology Registry, one of the country's foremost national registries, provides essential statistical data to enhance cancer-related health and preventive services. The registry's data indicates that of the 22,000 cases, around 17,941 are Saudi nationals, while 4,215 are non-Saudis.
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Saudi Arabia’s startup appeal spans across diverse sectors
The Saudi fintech sector has seen its fair share of new entrants during the first quarter of the year, with US-based MoneyHash being the most recent mover. Established in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash has set its sights on the Saudi market following a successful $4.5 million seed funding round in February.
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