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Jeddah Cell Connected to ISIS Busted after Two Saudis Blow Themselves Up During Raid
Saudi Arabia has busted a large terror cell after two Saudis blew themselves up during a gun battle in Jeddah, the Kingdom’s second-largest city. In addition to the two dead, 16 suspected terrorists have been arrested, including three Saudis and 13 Pakistani nationals, according to the Saudi Gazette. The Kingdom has also named the two […]
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Saudi Arabia May Cancel $20b in Projects to Cut Costs, Hires PwC
Saudi Arabia is reportedly working with accounting and consulting firm PricewaterhouseCoopers (PwC) on plans to cancel up to $20 billion of projects as the Kingdom continues to seek ways to cut costs as part of economic reforms, Bloomberg reports. The Ministry of Economy and Planning has appointed PwC to review $69 billion of government contracts and aims […]
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Saudi 2017 Budget Will Seek to Reduce Deficit, Create Surplus by 2020
Saudi Arabia’s government will reportedly unveil a plan to balance its high deficit and work to achieve a surplus in 2020, according to a senior government official with knowledge of the matter as quoted in Bloomberg. The plan was devised by the powerful Council on Economic and Development Affairs (CEDA), which is chaired by Deputy Crown Prince […]
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Careem, an Uber Rival in the Middle East, is Newest ‘Unicorn’ Company with Saudi, Japanese Investments
Careem, one of Uber’s rivals in the Middle East, has taken in $350 million in investment led by Japanese e-commerce firm Rakuten and Saudi Telecom Company (STC), the second investment made by Saudi Arabia’s government into ride-sharing apps this year. Saudi Arabia’s Public Investment Fund (PIF) invested $3.5 billion in ride-hailing app Uber in June, […]
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Saudi Arabia’s New Currency Offers Security Upgrades, Phases Out Small Notes
Saudi Arabia has unveiled newly designed banknotes and coins with added security features that make forgery difficult. The new issuance is the first step to addressing the preponderance of one-Riyal bills currently in circulation. Half of all Saudi paper notes are one-Riyal notes, which is worth a little more than a quarter U.S. dollar. A […]
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Surprise Early Gains for Saudi Leaders in Fight Against State Spending as Successful Deficit Cuts Seen Beyond Projections – Reuters
Saudi Arabia’s 2017 state budget is “likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy” next year, according to a report in Reuters by reporters Marwa Rashad and Andrew Torchia. After a tough year economically for the Kingdom, […]
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$800m King Abdulaziz Center for World Culture in Dhahran Opens
Saudi Aramco opened the $800 million King Abdulaziz Center for World Culture in Dhahran on Thursday, a large steel structure that aims to deepen knowledge and creativity among Saudi youth, according to reports. According to Reuters, the center, known as “Ithra” (“to enrich” in Arabic) is located close to Saudi’s “prosperity well” that tapped some of the […]
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Trump’s Complex Global Business Interests Could Present Problems for President-Elect
President-elect Donald Trump’s complex business dealings before and during his candidacy for the office, and now after his victory on November 8th, continue to draw scrutiny from the media and elected officials in the United States. The president-elect has drawn additional attention for his initial meetings with world leaders that apparently mix his business and family […]
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Three New Ventures by MiSK to Boost Innovation, Training and Investment
Deputy Crown Prince Mohammed bin Salman’s MiSK Foundation launched three new strategic ventures in Riyadh aimed “at comprehensively building the skills, knowledge and capability for economic growth within the Saudi Arabian tech sector,” Reuters and the Saudi Gazette reports. MiSK Academy, MiSK Technovation and MiSK Booster mark a significant new development in the foundation’s work to empower, […]
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Updated LinkedIn Profiles Indicate Key Hires by Saudi Arabia’s PIF
Recently updated LinkedIn profiles indicate a hiring spree by Saudi Arabia’s Public Investment Fund (PIF) as the Kingdom looks to use the sovereign wealth fund to jump-start its reform plans. Reuters reports that several executives have updated their LinkedIn profiles to indicate a new affiliation with the PIF, but the PIF did not comment directly on […]
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Saudi Arabia’s NEOM Green Hydrogen Plant launches mass recruitment drive
NEOM Green Hydrogen Company (NGHC) has initiated a major recruitment campaign for its world-leading green hydrogen plant in Saudi Arabia’s futuristic city NEOM, as the project moves closer to its operational phase. The $8.4 billion facility, set to be the world’s largest green hydrogen production plant, is progressing on schedule for full operations by the end of 2026. The project aims to produce up to 600 tonnes of carbon-free hydrogen daily, potentially eliminating five million tonnes of CO2 emissions annually.
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Cristiano Ronaldo remains all the rage but Saudi Pro League needs a title race
Even with players such as Sadio Mané, Marcelo Brozovic and Aymeric Laporte as fellow Yellows, and plenty of other talent, Al-Nassr do not look ready to finish above Al-Hilal at the moment. The president of the club resigned this week and there have been claims that the head coach, Luís Castro, survives in the job only because of Ronaldo’s protection. Reports of other Saudi clubs ready to pinch unsettled players – the transfer window shuts on 2 September – also does not help.
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Saudi Pro League brings in Webook to manage electronic ticketing
The Saudi Pro League (SPL), which kicks off its new season tomorrow, has signed a three-year deal with ticketing platform Webook.com. The SPL said the aim was “to streamline the fan experience for partnering clubs, offering early access to tickets, and season passes. Fans within the Kingdom and abroad will be able to purchase tickets well ahead of matchday.” As well as administering the tickets sales process, Webook.com will support clubs with technical assistance and ongoing ticket promotions, working towards integrating Webook into their own sites.
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Voices of the Desert: A Collaborative Journey in the Saudi Arabia Pavilion
The National Pavilion of Saudi Arabia at the 60th International Art Exhibition of La Biennale di Venezia presents a powerful collaboration between curators Jessica Cerasi, Maya El Khalil, and Shadin AlBulaihed, alongside renowned artist Manal AlDowayan. Together, they have created “Shifting Sands: A Battle Song,” an evocative multimedia installation that delves into the complexities of identity, media representation, and the voices of Saudi women.
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As China-Saudi ties develop, so will cross-border yuan use, ratings agency says
“This involves many sectors, larger sums of financial flows both ways and many more companies,” Chang said in an interview. “Economic and strategic alignment in terms of development plans” could further elevate the yuan in Saudi Arabia despite wider geopolitical tensions, he added. The tripling of China’s trade with the Middle East observed over the past two decades, report authors said, adds potential for the broader use of the yuan among Gulf states.
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Draw announced for inaugural big-money Saudi Arabia Snooker Masters
A new professional ranking event on the World Snooker Tour, the inaugural edition takes place at Green Halls in Riyadh between Friday 30th August to Saturday 7th September. The much-publicised tournament is in conjunction with the Ministry of Sport for Saudi Arabia and the Saudi Arabian Billiard & Snooker Federation, with an aim to increase visibility and participation of cuesports in the country. Both the Saudi Arabia Snooker Masters and the World 9-Ball Pool Championship - which was held in the Kingdom for the first time earlier this year - have reported 10-year contracts.
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Saudi Arabia is building world’s largest solar-storage microgrid
Saudi Arabia is building a 400-MW solar microgrid backed by 1.3 GWh of energy storage capacity to ensure clean energy supply for the Red Sea Project on the west coast of the Kingdom. Located in a 28,000-sq-km area in Tabuk province between the cities of Umluj and Al-Wajh, the project is being developed by Red Sea Global, a company owned by Saudi Arabia's Public Investment Fund (PIF).
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Saudi Arabia Unveils New Umrah Program to Enhance Pilgrim Experience
In 2023, Saudi Arabia recorded 13.5 million pilgrims. The new program seeks to improve these figures by supporting service providers. It encourages companies to adopt professional destination management and trip organization strategies. The ministry collaborated with the Pilgrim Experience Program, an integral part of Saudi Vision 2030, to organize the second Umrah organizations’ gathering in Makkah. Led by Hajj and Umrah Minister Tawfiq Al-Rabiah, the meeting focused on enhancing the Umrah experience and empowering the private sector to provide year-round services.
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Saudi POS hits $3.6bn as education spending surges with academic year start
Saudi Arabia’s point-of-sale transactions climbed to SR13.5 billion ($3.61 billion) between Aug. 11 and 17, reflecting a 3.6 percent increase from the previous week, official data showed. According to the latest figures from the Saudi Central Bank, also known as SAMA, the education sector led the charge, recording a 127.5 percent surge in spending, with total transactions reaching SR1.01 billion.
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Peregrine falcon chick sells for record $106,601 at Saudi auction
A peregrine falcon chick named Ultra White has been sold for a record SR400,000 ($106,600) this year after an initial price of SR100,000 at the 2024 International Falcon Breeders Auction, the Saudi Press Agency reported on Wednesday. American breeder Pacific Northwest Falcons, the owner of Ultra White, sold another peregrine chick named Super White for SR86,000 after an opening price of SR40,000 during the bidding on Tuesday night.
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