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New Labor Data from Saudi Government Shows Surge in Women in Workforce, High Expat Labor
More and more women are joining the workforce in Saudi Arabia, official data show, as the Kingdom looks to increase female participation in the workforce as part of its Vision 2030 economic and social reforms. From 215,000 in 2012, the number of women in the private sector jumped to 496,000 in 2016, an average of […]
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Reports Former Crown Prince Confined to Palace ‘Baseless’, Official Tells Reuters
A senior Saudi official on Thursday denied as “baseless” a New York Times report that Prince Mohammed bin Nayef has been confined to his palace in Jeddah and barred from traveling abroad, according to a Reuters report. The original report in the New York Times cited four current and former American officials and Saudis “close […]
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Crown Prince Mohammed’s Promotion, MSCI Announcement Jolts Saudi Stock Market to Big Gains
Saudi Arabia’s stock market soared for a second straight day following two big storylines that are giving investors confidence: the promotion of Prince Mohammed bin Salman to first-in-line to be King of Saudi Arabia, and news that the Kingdom may be considered for MSCI Emerging Market index inclusion as soon as 2019. The announcement of […]
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U.S. Senate Scrutinizes Precision-Guided Arms Package for Saudis
A proposed sale of $500 million worth of U.S. precision-guided missiles to Saudi Arabia is coming under growing scrutiny from Congress, according to reports, as a key vote looms in the U.S. senate today. Foreign Policy magazine reports that the planned sale of munitions would replenish the kingdom’s depleted stocks after two years of daily bombing […]
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President Trump, King Salman Speak Amid Qatar Diplomatic Fallout
U.S. President Donald Trump spoke by phone with Saudi Arabia’s King Salman amid a growing crisis between GCC states over allegations that Qatar is funding terrorism and extremist activities. Saudi Arabia, the UAE, Egypt and three other states have cut diplomatic ties with Qatar, threatening a socio-economic crisis for what Saudi Arabia’s leaders only recently […]
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Goldman Sachs Applies to Saudi CMA for Equities Trading License in Saudi Arabia
Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country, Reuters reports. The bank has been operating in Saudi Arabia since 2009 as an agent and underwriter, […]
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Flurry of Business Activity in Riyadh as SoftBank To Launch $100 billion Fund during President Trump’s Visit, One of Many Deals Slated for Busy Weekend
Japan’s richest man and Softbank CEO Masayoshi Son will travel to Saudi Arabia and announce the close of the first fundraising round for what will be the world’s biggest private equity fund, backed by Saudi Arabia’s sovereign wealth fund and Apple Inc., according to a Reuters report. The expected launch of the $100 billion Vision Fund […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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Saudi Defense Ministry’s Ideological Warfare Center Combats ISIS’ False Narrative
Saudi Arabia has established an Ideological Warfare Center (IWC) to combat the narrative put forth by extremist groups like ISIS and Al-Qaeda, and to combat extremism at its ideological roots. The IWC is affiliated with the Saudi Ministry of Defense, run by Deputy Crown Prince Mohammed bin Salman, and officially aims to “confront the roots of extremism […]
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In Interview, Deputy Crown Prince Mohammed bin Salman Discusses Economic Reforms, Regional Challenges
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman gave a wide-ranging interview with Saudi TV station MBC yesterday, discussing regional politics, the war in Yemen, the economy, Vision 2030, and Saudi Aramco’s planned IPO. The interview – given in Arabic – was widely broadcasted in the Kingdom and discussed on social media sites. It was his […]
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Saudi Arabia: Women’s fashion projected to become $53bn market by 2030
Rising female workforce participation, coupled with increasing westernisation of clothing, besides rising social media influence and mushrooming of online shopping platforms are the driving forces for the unprecedented growth in the fashion wear segment in Saudi Arabia, the research by global advisory firm RedSeer said.
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First Iraqi car enters Kuwait after 33 years
Iraqi Ambassador to Kuwait, Al-Manhal Al-Safi, announced yesterday the entry of the first Iraqi car into Kuwait in more than 33 years. This came ahead of the football match between the Iraqi and Kuwaiti national teams in the Asian qualifiers for the 2030 World Cup, scheduled to be held tomorrow. Al-Safi said on his account on X that the car belongs to an Iraqi citizen who came to attend the match, and thanked Kuwait for the warm reception.
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UAE completes Arab world’s first nuclear plant
Abu Dhabi's Barakah Nuclear Energy Plant will produce 40 terawatt-hours (TWh) of electricity annually after its fourth and final reactor entered commercial operation, the state-owned Emirates Nuclear Energy Corporation (ENEC) said in a statement. It will generate 25% of the electricity needs of the hot, desert Gulf state, where air-conditioning is ubiquitous – nearly the equivalent of New Zealand's annual consumption, ENEC said.
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Dr. Basma AlBuhairan: A Story of Cross-Sector Leadership
The Kingdom’s ranking in global innovation and technology indices is continuously improving. Saudi Arabia jumped 10 ranks to achieve 2nd place among the G20 countries according to ITU’s ICT Development Index (IDI) 2023
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How a Saudi university’s AI solution is revolutionizing Red Sea coral conservation
The groundbreaking technology, Coral-AI, combines real-time environmental monitoring with automated delivery of beneficial microorganisms, offering a proactive approach to preserving coral health not just in the Red Sea, but potentially across the world’s oceans. The Red Sea, the world’s northernmost tropical sea, is a semi-enclosed body of water connected to the Mediterranean Sea and the Arabian Sea through the narrow Suez Canal and Bab Al-Mandab Strait.
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Iran’s president visits Iraq amid Middle East tensions
Iranian President Masoud Pezeshkian visited Iraq on Wednesday on his first foreign trip, signalling the clerical establishment's intention to strengthen ties with a strategic ally of both Tehran and Washington as regional tensions rise. Pezeshkian, a relative moderate who was elected in July, met Iraqi Prime Minister Mohammed Shia al-Sudani at the start of a three-day visit that Tehran and Baghdad said would include the signing of a number of agreements and discussion of the Gaza war and the situation in the Middle East.
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23 years later, September 11 families continue quest for accountability from Saudi Arabia through civil lawsuit
Now, as survivors and the victims’ families commemorate another anniversary, they await a federal judge’s pivotal decision in their yearslong legal battle with the Kingdom of Saudi Arabia over their claim of KSA’s role in backing an extremist support network that assisted the hijackers in the US leading up to the attack on the World Trade Center and the Pentagon on September 11, 2001. The Kingdom denies the allegations.
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Saudi FM discuss Palestine, Syria and Somalia crises with counterparts in Cairo meeting
Saudi Foreign Minister Prince Faisal bin Farhan met with his counterparts at the sidelines of the Arab League foreign ministers meeting in Cairo on Tuesday. During the meeting, ministers discussed joint Arab action to intensify coordination on the Palestinian issue and other matters of concern. Regional and international developments were also discussed at the meeting that was attended by a Turkish foreign minister for the first time in 13 years.
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Saudi Arabia says Israel humanitarian aid blockade in Gaza amounts to ‘war crime’
Saudi Arabia said, Tuesday, that Israel’s obstruction of humanitarian aid to the Gaza Strip is a “war crime” and a “humanitarian catastrophe”, according to Saudi state channel, Al-Ikhbariya. The failure to reach a ceasefire in Gaza for nearly a year is evidence of the “repeated failure of the international security system,” Foreign Minister, Prince Faisal Bin Farhan, said at a news conference in Cairo with his Egyptian counterpart, Badr Abdelatty, Anadolu Agency reports. Bin Farhan criticised Israel’s intransigence and refusal to agree to a ceasefire.
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Saudi Arabia reopens embassy in Syria, completing reconciliation with Assad regime
At a reception held at Damascus’s Four Seasons Hotel on Monday, Saudi Chargé d’Affaires, Abdullah Al-Harith, stated that the reopening of the Kingdom’s diplomatic mission in Syria “represents an important moment in the history of relations between our two brotherly countries”. He also emphasised Riyadh’s commitment to developing bilateral relations with Damascus.
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