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Report: Kingdom to Use Some Oil Windfall on Boosting Private Sector
Saudi Arabia’s minister of economy and planning Faisal Alibrahim said the Kingdom will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, Bloomberg reports.
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Saudi Arabia’s tourism sector, carbon capture investments, and a conversation on Saudi-Iraqi history with Joshua Yaphe
In episode 43, the U.S. State Department’s Joshua Yaphe joins The 966 to discuss his book, “Saudi Arabia and Iraq as Friends and Enemies: Borders, Tribes and a Shared History.” Yaphe is a foreign affairs officer with the U.S. Department of State; responsible for research and analysis of political, economic, security and social affairs related […]
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Report: Saudi to Add Over $10b in Mining, Mineral Opportunities
Saudi Arabia is planning to offer several projects to the private sector to tap its massive mineral wealth with a value of more than 40 billion Saudi riyals ($10.6 billion), Zawya reports, citing a local newspaper.
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Saudi Stock Market Continues Hot Streak, is Sixth Strongest Globally in 2022
Saudi Arabia’s benchmark index, the Tadawul All Share Index (TASI), is the sixth best performing globally “and gains may not be over yet,” analysts and fund managers believe, according to Bloomberg.
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Saudi foreign policy, globalization, and the ‘shrapnel’ from Russia’s invasion of Ukraine with Afshin Molavi from Johns Hopkins SAIS
Episode 35 of The 966 includes a terrific conversation with author, thought leader, and emerging markets expert Afshin Molavi, Senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies (SAIS), and founder and editor of the Emerging World newsletter (eworld.substack.com). The hosts talk with Afshin about his recent piece, ‘Putin’s […]
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U.S. Navy Announces New Multinational Task Force to Patrol Red Sea off Yemen Coast
The U.S. Navy on Wednesday said it was establishing a new multinational task force that would target arms and other smuggling in the waters around Yemen, in a show of support for Saudi Arabia and the UAE with American power after persistent Houthi attacks.
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Foreign Ownership in Saudi Stock Market Grows to $107.8 Billion – Report
According to a report from the Okaz/Saudi Gazette, the ownership of foreign investors in the Saudi stock market jumped to SR404.26 billion ($107.8 billion), or 3.36 percent of the total market value of the listed companies.
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Mae Al-Mozaini, CEO and co-founder of Nusf, joins The 966 to talk about women’s empowerment in Saudi Arabia
Mae Al-Mozaini, Founder and CEO of the Arab Institute for Women’s Empowerment (Nusf) and former Aramco executive talks with The 966 about her experiences growing up in Saudi Arabia, working with Aramco, and the positive impact Nusf is having by empowering future female Saudi leaders.
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Poll Finds Bipartisan American Support for High Gas Prices over Russian Invasion, NATO Support
Two weeks on in Russia’s invasion of Ukraine, a poll of American attitudes on the war finds bipartisan support for U.S. energy sanctions against Russia even if that results in higher gas prices.
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Market-Leading Pharmacy Firm Nahdi Seeks Up to $1.36 billion in Saudi Arabia’s Biggest IPO Since Aramco
Nahdi Medical Co, Saudi Arabia’s market leader in retail pharmacies, “aims to raise up to 5.11 billion riyals ($1.36 billion) in the country’s biggest initial public offering since Saudi Aramco’s listing in 2019,” Reuters reports.
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MUST-READS
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International Saudi Falcons and Hunting Exhibition to Welcome Visitors in October
The Saudi Falcons Club will organize the International Saudi Falcons and Hunting Exhibition from October 3 to 12 at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, an event expected to draw over 400 exhibitors from 45 countries. This year's exhibition will be held on an impressive 60,000 square meters; it is designed to cater to visitors of all ages.
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Saudi Fund for Development Celebrates 50 Years of Global Impact with Over $20 Billion in Development Contributions
The Saudi Fund for Development (SFD) celebrated its 50th anniversary in Riyadh today, under the theme "50 Years of Global Impact." The event brought together key development partners to reflect on the SFD’s significant contributions to sustainable development worldwide. Over the past five decades, the SFD has allocated over $20 billion, financing more than 800 development projects and programs in vital sectors, including social infrastructure (education, healthcare, water and sewage, and housing and urban development), communication and transportation (roads, railways, airports and seaports), energy, agriculture, mining and industry, and others.
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King Salman reconstitutes Shoura Council and Council of Senior Scholars
Saudi Arabia's Grand Mufti Sheikh Abdul Aziz Al-Sheikh has been reappointed chairman of the Council of Senior Scholars while Sheikh Abdullah Al-Sheikh was reinstated as speaker of the Shoura Council, the Saudi Press Agency reported. Mishaal Al-Salami was re-named deputy speaker of Shoura Council while Dr. Hanan Al-Ahmadi was re-appointed assistant speaker. The 150-member Shoura Council has been reconstituted for a period of four years effective from Friday, Rabi Al-Awwal 3, 1446, corresponding to Sept. 6, 2024.
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Yemen’s STC steps up effort to achieve global recognition
The Southern Transitional Council (STC) is the most organized fighting force in the south of Yemen. Following the onset of the Ansarullah movement’s attacks on commercial shipping, starting in Nov. 2023, the STC has been actively positioning itself on the global stage as a disciplined defender against the group—better known as the Houthis—and as a key player in securing the Red Sea and the Gulf of Aden.
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Netanyahu pushes back against new pressure over Gaza and hostages: ‘No one will preach to me’
Israeli Prime Minister Benjamin Netanyahu on Monday pushed back against a new wave of pressure to reach a cease-fire deal in Gaza after hundreds of thousands of Israelis protested and went on strike and U.S. President Joe Biden said he needed to do more after nearly 11 months of fighting.
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Saudi’s New Railways Law Further Enhances the Kingdom’s Rail Infrastructure Projects
The Kingdom recently published its new Railways Law, which took effect this summer and is designed to support the large pipeline of cross-country, inner-city, and inter-city rail infrastructure projects. The Transport General Authority (TGA) is due to publish the implementing regulations to the new Railways Law imminently.
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When does the Saudi Pro League transfer window end and can Premier League clubs still sell to the Middle East?
The window is set to slam shut on Monday, September 2, which is five days fewer than the 2023 summer window, which closed on September 7. Couple this with the fact the Premier League transfer window closed earlier on Friday, August 30, and you have an interesting situation.
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NEO, a new mobile banking brand, is being launched in Saudi Arabia by Saudi National Bank (SNB).
Described as a “lifestyle digital banking and financial ecosystem”, the banking app comes with a multi-currency debit card (supporting up to 20 different currencies with fixed currency rates); a rewards programme, including cashback and discounts; gift cards; and additional services such as cinema, restaurant and hotel bookings.
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TNS striker Young makes Saudi Arabia move
The New Saints striker Brad Young, Welsh football’s leading goalscorer last season, has signed for Saudi Pro League club Al-Orobah for a £190,000 fee. Young, 21, was the Cymru Premier's golden boot winner for 2023-24 after his 22 goals helped TNS to the Welsh double.
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Saudi Heritage Commission launches Al-Yamama Archaeological Project in Riyadh
The Saudi Press Agency (SPA) reported on Monday that the Commission will conduct various archaeological surveys and excavations in Riyadh during 2024-2028. A detailed study of Riyadh, along Wadi Hanifah, and surrounding areas will be part of the project.
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