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Saudi National Day, Significant Traction in Airline/Travel Reforms, Saudi-Greece Relations, and more – The 966 Episode 60
Episode 60! The 966 wishes everyone a fun and safe Saudi National Day. This week, the hosts re-connect after a two week hiatus for the 60th episode of the show. First, the hosts discuss Richard’s one big thing, which is a deep dive on Saudi-Greece relations of late and why that bilateral relation is one […]
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US’ Advent Technologies signs MoU with Saudi-based Hydrogen Systems; Saudi Wants Green Hydrogen Commitment from EU
US-headquartered Advent Technologies has signed a Memorandum of Understanding with Riyadh-based Hydrogen Systems “to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East,” Zawya reports.
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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 GDP Up 12.2% in Second Quarter, Exceeding Initial Estimate, as ‘Boom Spreads Beyond Oil’
Saudi Arabia’s real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, new data revealed on Wednesday, as the Kingdom continues to see growth from high oil prices that is now spreading to the private sector.
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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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Iraq’s Clashes Sends Oil Higher Before Retreat
Oil surged to the biggest gain in six weeks before paring some of those gains after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad, according to Bloomberg.
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Monsha’at Report — Number of SMEs in Saudi Arabia Grows 25.6% in 1H 2022
Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) said the number of registered SMEs in Saudi Arabia hit 892,063 in the first half of this year, registering a 25.6 percent increase from the fourth quarter of 2021.
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Global migration trends, big cat conservation in Saudi Arabia, the new Saudi companies law and more!
Episode 59! The hosts talk about a newly-released and interesting UN report on global migration trends, big cat and other endangered species conservation in Saudi Arabia, and much more in the program’s finishing Yallah! segment. Programming note: The 966 will return next week with a featured interview, then be back in full swing as September […]
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Saudi Arabia’s Energy Minister Says Paper and Physical Oil Markets ‘Have Become Increasingly More Disconnected’
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals, and as a result, OPEC+ may be forced to cut production to balance the market, Bloomberg reports.
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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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MUST-READS
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Opinion: Is US-Israel disagreement on a two-state solution unresolvable?
Last week, the penny finally dropped between the US and Israel. Israeli Prime Minister Benjamin Netanyahu owned up that he's been dissembling for decades, at least in English and in public, about being open to a two-state solution. He flatly ruled out any form of Palestinian statehood without offering an alternative addressing basic Palestinian human rights like citizenship. This has effectively been Israel's consistent policy, with a few notable hiccups, since the assassination in 1995 of former prime minister Yitzhak Rabin by an Israeli extremist.
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Why are Iran and Pakistan striking each other’s territory – and what does it have to do with the Middle East?
Pakistan and Iran have both conducted strikes on each other’s territories in an unprecedented escalation of hostilities between the neighbors, at a time when tensions have risen sharply across the Middle East and beyond.
The two countries share a volatile border, stretching about 900 kilometers (560 miles), with Pakistan’s Balochistan province on one side and Iran’s Sistan and Baluchestan province on the other.
Both nations have long fought militants in the restive Baloch region along the border. But while the two countries share a common separatist enemy, it is highly unusual for either side to attack militants on each other’s soil.
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What is behind Iran-Pakistan attacks and could conflict escalate?
Iran launched missile strikes on three different countries this week - Iraq, Syria and Pakistan - while proxy militant groups it backs continue to target U.S. and Western interests and fight Israel, stoking fears of conflict that could engulf the Middle East and spread to other regions.
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Why is Automation Crucial for VAT Reconciliation in Saudi Arabia?
Saudi Arabia implemented phase 2 under e-invoicing in January 2023, which mandates all enterprises to integrate their ERP/accounting system/POS with the Fatoora portal to send B2B invoices for clearance and B2C invoices for reporting. Later, ZATCA calculates Value Added Tax (VAT) liability based on the e-invoicing data and proceeds with audits and penalties for potential discrepancies.
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Is Saudi Arabia Giving Up On Oil?
It is now common to hear about Saudi Arabia’s ambitious new investments. Many will have seen advertisements of the new futuristic city, Neom, near the Red Sea. It is meant to run completely on renewable energy, a surprising plan for a top oil exporter. There are also lavish investments on sports; some say it is “sportswashing” with $6.3 billion spent since 2021. This includes buying clubs overseas and paying an estimated $214 million for football player Cristiano Ronaldo.
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Will Saudi Arabia build on domestic boom with first Asian Cup triumph in 28 years?
Having such big names playing in the domestic league will always have immediate benefits but, from a longer-term perspective, the hope is that training daily with higher-level players would also raise the level of the local talent.
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Can Saudi Arabia win the Asian Cup?
It has been 27 long years since Saudi Arabia won the last of its three Asian Cup trophies. Guided by Portuguese coach Nelo Vingada, the Green Falcons beat host nation UAE on penalties in a hugely tense final that had finished goalless after extra time. Over the course of two decades, Saudi Arabia was the unquestionable continental force in Asia, winning three titles – 1984, 1988 and 1996 – and reaching three finals in the seven tournaments between 1984 and 2007.
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What are Saudi Arabia’s premium residency visas?
Apart from long-term residency, it exempts holders from certain fees. Holders additionally enjoy visa-free travel and the right to own real estate and businesses. It also extends family sponsorship rights, allowing for the inclusion of family members under the residency. For dependents, the maximum age has been recently extended to 25. All these benefits are part of Saudi Arabia’s Vision 2030 initiative, aimed at attracting global talent and investment to diversify its economy.
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Perspective: Another Israel-Hezbollah war? It’s likelier than ever
Israel says that it has transitioned to a lower-intensity “third phase” in its operations against Hamas, but that does not mean that more surgical attacks against Hamas, and lately Hezbollah, are viewed as less escalatory by either organization.
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Opinion: Does Biden Have a Middle East Peace Plan? Sort of.
All of this is at the very beginning stage, of course—and most of it won’t move ahead anytime soon in the face of continued resistance by Israeli Prime Minister Benjamin Netanyahu’s hard-right government to anything that resembles a Palestinian state. Within Israel, Netanyahu is widely blamed for allowing the Oct. 7 catastrophe to happen—indeed, even abetting it by shoring up Hamas at the expense of the Palestinian Authority for years—and his support is plummeting. But the gruesome Hamas attacks have also shifted Israeli public opinion far to the right, making the immediate prospect of any two-state negotiation all but impossible.
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