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Saudi PIF, Bahraini Counterpart Mumtalakat Sign Agreement to Boost Cooperation and Investment
Saudi Arabia’s Public Investment Fund (PIF) and its Bahrani counterpart, Mumtalakat, have signed a memorandum of understanding (MoU) to expand cooperation and enable new and promising investment opportunities in Bahrain.
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Kuwait’s Emir Sheikh Nawaf dies, Sheikh Meshal al-Ahmad al-Sabah Named as Successor
Sheikh Meshal al-Ahmad al-Sabah was named as Kuwait’s new emir on Saturday after the death of his brother Sheikh Nawaf al-Ahmad al-Sabah, aged 86.
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PepsiCo Middle East CEO Aamer Sheikh joins The 966, plus a full update on Saudi football, King Saud University’s overhaul and more…
Episode 96! The 966 speaks with PepsiCo Middle East CEO Aamer Sheikh for a conversation about the company’s strategy to plug into Vision 2030’s opportunities and continue to stay on top as the number one food and beverage brand in the Kingdom of Saudi Arabia. Mr. Sheikh, who is Pakistani-American and grew up in the […]
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Saudi Arabia Leads MENA in VC Funding So Far in 2023, MAGNiTT Report Says
Saudi Arabia was the MENA leader in VC funding in the first half of 2023, a report by the research and analysis firm MAGNiTT said in its recently-released report.
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WHO Praises Saudi Arabia for Successful Hajj in 2023
The World Health Organization has praised Saudi Arabia for its approach to health during Hajj season, which saw no major incidents or outbreaks of disease detected during this year’s pilgrimage.
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Discovery Channel Documentary About The Line in Saudi Arabia features Interview with Crown Prince Mohammed bin Salman
Crown Prince Mohammed bin Salman gave an interview to the Discovery Channel for a new documentary about The Line, discussing some of the earliest ideas around the design and what the project means to the Kingdom and the world.
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Saudi gigaprojects update: All you need to know
Writing for Construction Week, Angitha Pradeep provides an update on five (more if you separate Neom’s multiple builds) giga projects ongoing in Saudi Arabia.
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Contract Signed for $1.5 Billion for NEOM High-Speed Railway to Connect Port Development of Oxagon and The Line
Milan, Italy-based Webuild and its joint-venture partner Shibh Al Jazira Contracting Company (SAJCO) have signed a contract worth circa $1.5 billion to design and build 57 kilometers (35.4 miles) of a high-speed railway in NEOM, along the north Red Sea coast of Saudi Arabia which will connect Oxagon and The Line, according to reports.
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Neom’s progress and opening date, Syria comes in from the cold, the Rua Al-Madinah giga-project and much more
Episode 86! The hosts fly solo today with lots to discuss from a busy week in Saudi Arabia. Richard’s One Big Thing is the recent developments on Saudi-Syria relations. Syria has come in from the cold in recent days as the Arab League and Saudi Arabia in particular prioritize engagement with Assad regime to solve […]
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MENA startups Raised $7 Million in April 2023, a 93 Percent Decline Year-on-Year – WAMDA Report
In April 2023, startups based in the Middle East and North Africa raised roughly $7 million, a drop of 97 per cent compared to March 2023 and a 99 per cent drop compared to April 2022, according to a report in Wamda.
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MUST-READS
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Creativity to transform these Saudi industries
Drawing on his unique perspective as both a tech entrepreneur and a creative pioneer, from his early days at Facebook to his latest venture, Karaz Disco, Prince Fahad will offer an in-depth look at how innovative content with an Arabic identity is redefining the Kingdom’s cultural landscape. His session will explore the ongoing impact of Saudi Vision 2030 on the media and entertainment sectors and the critical role of creativity in driving this profound transformation.
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Saudi Arabia announces new global coalition to establish Palestinian state
Saudi Arabia’s top diplomat on Thursday announced the launch of a new initiative to establish a Palestinian state and garner support for the implementation of a two-state solution after decades of international efforts failed, leading the region to the brink of an all-out war. The Global Alliance for the Implementation of the two-state solution was unveiled during Prince Faisal bin Farhan’s speech at a meeting that included the Arab League, the Organization of Islamic Cooperation (OIC) and Norway.
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As Middle East conflict escalates, Muslim American voter group endorses Harris over Trump
Vice President Kamala Harris has secured the endorsement of one of the nation’s largest Muslim American voter mobilization groups, marking a significant boost to her campaign since many Muslim and Arab American organizations have opted to support third-party candidates or not endorse. Emgage Action, the political arm of an 18-year-old Muslim American advocacy group, endorsed Harris’ presidential campaign on Wednesday, saying in a statement provided first to The Associated Press that the group “recognizes the responsibility to defeat” Donald Trump in November.
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Israel ‘didn’t even respond’ to truce proposal, as it continues bombing Lebanon
Israel's prime minister indicated that he "did not even respond" to proposals aimed at bringing about a temporary ceasefire between Israel and Hezbollah, as Israeli forces continued raining down air strikes on Lebanon. On Thursday, US President Joe Biden and French President Emmanuel Macron published a joint statement calling for a 21-day truce, aimed at paving the way for broader negotiations for a permanent ceasefire. Just hours later, however, Prime Minister Benjamin Netanyahu's office rejected the idea.
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Qatar becomes first Arab state to join US visa waiver programme
The US has said it will waive visa requirements for citizens of Qatar, making the gas-rich Gulf state the first Arab country, and only the second Muslim-majority country, to join a network of states with expedited travel to the US. The US Department of Homeland Security said on Tuesday that the Gulf monarchy cleared the "stringent security requirements" to become the 42nd member of the US’s visa waiver programme. Qatar’s population stands at just 2.6 million, of whom only a tiny fraction - around 313,000 - are citizens. The US visa waiver programme is mainly reserved for wealthy western European and Asian states. Israel was added to the programme last year.
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Hotel franchise in the Middle East: navigating the shift
Though still considered emerging, the region's hospitality market is rapidly maturing and diversifying. Coupled with an increasing range of brands across all scale ratings, there has been a noticeable shift to franchise (including third-party operators and heightened owner engagement). Franchise, predominant in North America and widespread in Europe, may not have been considered when HMAs for most Middle East hotels were first entered. But as these agreements approach expiry or renewal, their owners may have a golden opportunity to explore alternatives.
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Middle East accounts for 7.5% of global crypto volume — Chainalysis
According to a Sept. 25 Chainalysis report, the Middle East and North Africa region (MENA) accounted for 7.5% of all cryptocurrency transaction volume globally between July 2023 and June 2024. Chainalysis estimates the total value received during the period to be $338.7 billion, with the vast majority of the transaction volume coming from institutional and professional investors.
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US admits Qatar into visa waiver program
The United States on Tuesday announced it was admitting Qatar into its visa waiver program, allowing visa-free travel by Qatari citizens for up to 90 days starting no later than Dec. 1. The U.S. Department of Homeland Security and the Department of State said in a statement that Qatar is the first Gulf country to be admitted to the U.S. Visa Waiver Program, commending Doha for meeting the strict security requirements to join.
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Foreign trucks must settle any violations before their entry or exit of Saudi Arabia
It is mandatory on the part of foreign trucks to settle any transportation violations before the entry or exit of drivers or trucks in Saudi Arabia. This is one among the four key regulations, formulated by the Transport General Authority (TGA), in collaboration with relevant authorities, aimed at governing foreign truck operations in the Kingdom.
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Saudi Arabia to bolster medical tourism with strategic partnerships
One notable example is a memorandum of understanding (MoU) signed last August between Saudi Arabia and Morocco, focusing on research, digital health, therapeutic development, pandemic preparedness, and preventative medicine. Meanwhile, this MoU follows a similar agreement signed with Thailand in January to foster knowledge sharing on hospital management and wellness services between both countries.
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