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  • Saudi Arabia will host the inaugural Olympic Esports Games

    The decision to host the Olympics Esports Games in Saudi Arabia also comes at the perfect time as the country is currently holding the Esports World Cup in Riyadh. This event serves as proof of the Kingdom’s dedication to esports, drawing participants and enthusiasts from around the globe, and its ability to host large-scale events.

  • Saudi Arabia’s Economic Strategy is a Double-Edged Sword for OPEC Stability

    Since the announcement of Vision 2030, Saudi Arabia has faced substantial fiscal challenges. With oil prices no longer at their 2022 highs, the kingdom's reliance on petrodollars is more precarious. The IMF estimates that Saudi Arabia's fiscal breakeven oil price is near $100 per barrel, but current market prices fall short, complicating the funding of its large-scale diversification projects.

  • Saudi Arabia pulling back on construction spending

    Even though these changes will impact local and international business, Saudi Arabia will continue to be big spenders on construction.  The kingdom still has $50 billion in capital expenditures to support the projects for 2024, Bloomberg reported. The Sovereign Wealth Fund reportedly has $70 billion in capital a year from 2025.

  • Breakthrough pension reform in Saudi Arabia – A model for the MENA region

    Saudi Arabia took a big leap forward in transforming its pension system with the recent announcement of comprehensive reforms, designed with support from the World Bank, aimed at enhancing income protection during old-age, but also promoting gender equality

  • Early medieval inscription discovered in Saudi Arabia

    Saudi Arabia’s Heritage Commission announced the discovery, which was made at the village of Alqan in the northwestern part of the kingdom. Its historical significance lies in confirming the continued use of the Thamudic script in the 5th century AD, and offers new insights into the evolution of Arabic letter forms in the pre-Islamic era.

  • U.S. Oil Production Develops Massive Lead Over Russia And Saudi Arabia

    For the first time, global oil consumption surpassed 100 million barrels per day in 2023. The demand for gasoline, diesel, and kerosene has returned to or exceeded pre-2019 levels, although there are variations across different regions. Global gasoline consumption slightly exceeded its pre-COVID level at 25 million barrels per day, while kerosene, despite showing strong growth of 17.5% in 2023, has not yet returned to its peak levels from 2019.

  • Foreign Minister Prince Faisal emphasizes significant progress in Saudi-Turkish relations

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan emphasized significant progress in Saudi-Turkish relations across political, economic, and security domains. During his official visit to the Republic of Türkiye, Prince Faisal announced the signing of a protocol to amend the minutes establishing the Coordination Council, with plans for the second coordination meeting in Riyadh soon. This reflects the leadership's commitment to advancing relations in all areas of mutual interest, he said.

  • Senior senators warn Israel-Saudi normalisation is slipping away from US

    “It’s clear at this stage that none of this is going to work through Congress before the November elections,” Elizabeth Dent, a senior fellow at the Washington Institute for Near East Policy, told MEE, referring to the Biden administration’s prospective agreements with Riyadh. Coons said that those watching for a deal would need to see a “prompt announcement” of one from the Biden administration in the coming days. It would also require Congress to come back into session during the summer.

  • Who is Mohammed Deif, the Hamas military chief targeted by Israel?

    Israel has targeted Hamas’ military chief Mohammed Deif in a strike on a designated humanitarian zone in southern Gaza which killed at least 90 Palestinians. It is not clear yet if Deif was among the dead. But who is he? An elusive and powerful figure, Deif is understood to be one of the masterminds behind the October 7 attacks. He has led the Palestinian militant group’s armed wing for more than two decades. If his death is confirmed, Deif would be the highest profile Hamas leader killed since the war in Gaza began nine months ago. Israel has been seeking to dismantle Hamas following the October 7 attacks but with fighting ongoing and senior Hamas figures at large, that goal has seemed distant.

  • Saudi Arabia’s environmental efforts helping to reduce dust storms

    The center’s Executive Director, Jamaan Saad Al-Qahtani, said dust storms are declining due to the country’s environmental initiatives, especially the Saudi Green Initiative, an ambitious national program of planting 10 billion trees within the kingdom. The natural reserves also prevent desertification, and recent favorable weather patterns have further aided vegetation growth.