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  • Saudi Aramco targets two US natural gas producers

    Saudi Aramco, the world’s biggest oil exporter, has initiated talks with two liquefied natural gas (LNG) producers in the United States to bolster its overseas expansion strategy. The oil major is negotiating with Tellurian and NextDecade, Reuters reported, quoting informed sources. Aramco is considering buying a stake in Tellurian’s Driftwood LNG plant in Louisiana, which has a capacity of 27.6 million metric tonnes per annum, the report said

  • Senior Biden administration officials returning to Middle East to push for Gaza ceasefire deal

    Top Biden administration officials are traveling to the Middle East this week to engage in ongoing talks on a possible ceasefire and hostage release deal between Israel and Hamas, as well as the dire situation in the Gazan city of Rafah, US officials told CNN.

    CIA Director Bill Burns, who has served as the administration’s primary interlocutor in ceasefire negotiations, is meeting Qatari leaders in Doha to receive an update on their conversations with Hamas leaders, according to national security adviser Jake Sullivan. Qatar is acting as an intermediary in talks between Israel and Hamas.

    Sullivan also said that the US remains in hourly contact with the Qataris as they await a formal response from Hamas.

  • Saudi Aramco’s $12 Billion Share Sale Quickly Sells Out, but Who is Buying?

    Last week, Saudi Arabia’s energy giant Saudi Aramco (ARMCO) confirmed in a filing with the Saudi Exchange plans to sell shares in the state-owned oil company to help the kingdom fund plans to diversify the economy. Well, the sale took place on Sunday and was a resounding success with US$12 billion share sale sold out shortly after the deal opened. The deal offered ~1.545B Aramco shares, or ~0.64% of the company, within the price range of 26.70 riyals to 29 riyals. Buyers of the shares will be looking to cash in on an upcoming ~$124 billion annual payout that Bloomberg Intelligence estimates will give the shares a juicy dividend yield of 6.6%.

  • Saudi Arabia establishes logistics zone in Djibouti to expand economic presence in Africa

    Saudi Arabia has signed a deal to establish a logistics zone in the port of Djibouti, leveraging Africa’s gateway to propel the Kingdom’s products and exports, fostering economic interplay. During a delegation visit of Saudi investors to the capital city of the East African country, the contract was signed by Hassan Al-Huwaizi, president of the Federation of Saudi Chambers, and Aboubaker Omar Hadi, chairman of Djibouti Ports and Free Zones Authority.

    Under the leadership of Al-Huwaizi, the delegation, including over 100 entrepreneurs and government representatives, came together to advance this transformative initiative.

  • Saudi Arabia Inaugurates National Defense University

    It will work as a research hub to support decisions and resolve problems and provide high level services to society according to the best standards, stressed Al-Ruwaili. The National Defense University aims to achieve academic and professional excellence, qualify professional national security cadres and carry out scientific research in national defense and security. It will also organize cultural and awareness events related to national security.

  • Why the esports industry is embracing Saudi Arabian investment

    “If you compare it to any other sports, all of them are heavily funded by governments across the world, from grassroots to pro sports, and people underestimate the involvement of government funding,” Reichert said. “And this is probably the first time that this has happened in esports on that scale, so it’s a good thing, actually — it’s not a bad thing whatsoever.”

  • Saudi Arabia First-Quarter Deal Flow Slumps to Three-Year Low

    Saudi Arabia closed the fewest number of first-quarter investment deals since 2021 in a further sign the kingdom is struggling to attract funding from private companies and foreign investors.

    The country finalized 64 transactions in the first three months of 2024, according to data from the Ministry of Investment, down 40% on a year earlier. The count is slightly below that recorded in the fourth quarter.

    The US and the UK were leading investors, followed by the UAE, Egypt and Singapore. The report didn’t say why the number fell.

  • How star players will make Euro 2024 a hit with Saudi Fans

    With the Saudi Pro League drawing to a close and capping off a season featuring more star names than many would have imagined a few years ago, many could be forgiven for thinking that that’s it for football for a while. But while the 2024 Euros won’t feature the Al-Suqour Al-Khodhur, research from Footballco shows that young fans are just as excited as their European counterparts. Footballco counts global football media brand GOAL, and Kooora, the number one sports platform in the Arab world, among its portfolio and works with brands to reach fans through football.

  • Saudi Arabia’s Expanding Role In Advanced Technologies

    When Saudi Crown Prince Mohammed bin Salman announced the creation of Alat in February 2024, he stressed the vital role this organization will play in Saudi Arabia's economic development. Saudi estimates predict this company will create 39,000 direct jobs and reach $9.3 billion in non–oil GDP contribution by 2030. Alat's AI infrastructure unit will combine artificial intelligence with other Industry 4.0 technologies, including robotics, big data, and automation.

  • Celebrating World Environment Day in Saudi Arabia with two KAUST startups

     King Abdullah University of Science and Technology (KAUST) is celebrating Saudi Arabia hosting World Environment Day 2024 by highlighting two of its innovative local startups that are developing solutions for greening Saudi Arabia.
    Saudi Arabia is hosting World Environment Day on June 5 with a focus on land restoration, desertification and drought resilience. One of the most effective ways to restore degraded land, halt desertification and build drought resilience is through ecosystem restoration.