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  • Saudi Film Commission Revolutionizes Cinema Landscape with Significant License Fee Reductions

    The revised fee structure unveiled by the Film Commission reflects a strategic commitment to bolstering the film industry’s growth and vitality. By slashing licensing costs across different city categories, from “A” to “C,” the Commission aims to empower cinema enterprises, stimulate economic contributions, and foster cultural and creative diversity on the big screen.

  • Green Hydrogen: A New Frontier for Thailand and Saudi Arabia

    In April 2023, Thailand’s state-owned oil and gas conglomerate, PTT Group, announced that it would invest $7 billion in producing green hydrogen with ACWA Power, Saudi Arabia’s leading renewable energy company. The project aims to build a plant in Thailand that can produce 225,000 tons of green hydrogen annually, equivalent to about 1.2 million tons of ammonia. Green hydrogen is a form of renewable energy that is produced by using electricity from solar, wind, or other sources to split water molecules into hydrogen and oxygen. Unlike fossil fuels, green hydrogen does not emit any greenhouse gases when used, making it a clean and sustainable alternative for various applications.

  • Israel orders more Gaza evacuations after school shelter attack kills scores

    Israel expanded evacuation orders in Khan Younis in the southern Gaza Strip overnight, forcing tens of thousands of Palestinian residents and displaced families to leave in the dark as explosions from tank shelling reverberated around them. The Israeli military said it was attacking militants from the Hamas group - which administered Gaza before the war - who were using those areas to stage attacks and fire rockets.

  • China has spent at least $230 billion to develop its EV industry and ‘flood’ the market

    At least $230.8 billion between 2009 and 2023, according to new research from the Center for Strategic and International Studies (CSIS). Funding over the first nine years the Washington-based think tank examined came out to about $6.74 billion per year, before tripling for the following three years, and then spiking again from 2021 onwards.

  • Riyadh Air unveils Saudi Arabia’s first 47-seat electric coach

    In an effort to support the United Nations’ 17 Sustainable Development Goals (SDGs) after signing onto the UN Global Compact earlier in 2024, Riyadh Air, in collaboration with the National Transportation Solutions Company (NTSC), has launched the first in a fleet of electric coaches for employee transport.

  • Saudi Arabia’s $1T Bet on Tourism: Video

    Saudi Arabia is investing hundreds of billions of dollars in an effort to bolster the nation’s tourism industry. Anita Mendiratta, UN Tourism Special Advisor to the Secretary General, joins Bloomberg's Lizzy Burden on "Bloomberg: Horizons Middle East and Africa" to discuss the challenges facing the Saudi government, as well as tourism's impact on the local economy.

  • Sipchem to build new $189m Saudi petchem facility

    Saudi International Petrochemical Company (Sipchem) has awarded a $189 million contract to a South Korean contractor to build a new petrochemicals facility in Saudi Arabia. The project was won by SGC Engineering & Construction, an engineering, procurement and construction contractor, The Korean Economic Daily, a financial news outlet, reported. The deal involves the construction of an ethylene-vinyl acetate plant in Jubail Industrial City.

  • Saudi Arabia seeks to silence Neom project doubters with images and video

    The intention is that Neom will be completed by 2039. Many experts are skeptical of the plan, and more recently, there have been many media outlets reporting that the project has been scaled back considerably. There's so much conflicting information going around on the internet that there's no agreed-upon amount of scaling back that we could find.

  • Saudi Arabia makes significant moves in semiconductor sector with strategic investments

    To this end, the Kingdom has launched a billion-riyal investment fund dedicated to semiconductor companies and established the National Semiconductor Hub. At least 50 semiconductor design companies will be established in Saudi Arabia by 2030, supported by a deep tech venture capital fund exceeding SR1 billion ($266 million) as part of a new tech hub.

  • Saudi ports report 15.72% growth in container handling for July

    According to Arab News, the latest statistics from the Saudi Ports Authority, known as Mawani, revealed that the Kingdom’s terminals received 271,465 standard containers in July, up from 234,592 in July 2023. The volume of handled tonnage also increased by 9.11 percent year on year, reaching 27.38 million tonnes.