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Development on AMAALA Pushes Ahead as 300 Contracts Awarded Worth $1.6 Billion to Date
Saudi Arabia’s ultra-luxury tourism project AMAALA has broken ground and has $1.6 billion of contracts currently out to tender across 54 proposals, the project’s developer The Red Sea Development Company (TRSDC) revealed in a press statement.
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Aviation Plans Set to be Revealed at Saudi Arabia’s Future Airport Development Summit Set for November in Riyadh
Saudi Arabia is set to launch a new event, the Saudi Airport Exhibition, which organizers are billing as the largest dedicated event for airport development in Saudi Arabia.
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SAMA Licenses Two More Fintech Companies, Bringing Total to 38
The Saudi Central Bank, also known as the Saudi Arabian Monetary Agency (SAMA), announced on its website that it has granted permits to two companies to provide open banking solutions, bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38.
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President Biden Concludes Trip to Saudi Arabia with Agreements to Cooperate on Range of Issues
President Biden concluded his trip to Saudi Arabia with a renewed partnership with the Kingdom, pledging to work together with Saudi leadership to achieve shared goals on a number of diplomatic, energy, and trade issues.
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Dr. Sean Foley joins The 966 to talk about a changing Saudi culture, art in the Kingdom and more, and looking ahead to Biden’s visit
In Episode 52, Dr. Sean Foley, professor at MTSU and author of the book Changing Saudi Arabia: Art, Culture, and Society in the Kingdom, joins The 966. Dr. Foley specializes in Middle East history and the cultural, political, and religious trends in the wider Islamic World.
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Report: Announcement on Steps Toward Normalization of Saudi-Israel Relations Expected during President Biden’s Visit to Saudi Arabia
Steps toward normalizing relations between Saudi Arabia and Israel are expected to be announced over the weekend after President Biden meets in Jeddah with Saudi King Salman and Crown Prince Mohammed bin Salman, according to a report in Axios, citing three Israeli officials.
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Report: U.S. Justice Department Investigating PGA Tour in Fight With Saudi-Backed LIV Golf
The Department of Justice is investigating whether the PGA Tour engaged in anticompetitive behavior as it battles the upstart, Saudi-backed LIV Golf circuit, the PGA Tour confirmed to The Wall Street Journal.
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Raghad Fathaddin joins The 966; Oil’s price and Saudi spare production capacity, the new ‘Motawif’ app, and more…
In episode 50, The 966 talks with Raghad Fathaddin, communications analyst for PepsiCo based in Riyadh, an entrepreneur and founder of Sangha “Estidama Hub”, a Y20 delegate and also a WIn fellow. Before that conversation, the hosts discuss a new app from Saudi Arabia that is changing the way people register for the Hajj pilgrimage, […]
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IMF Sees 7.6% GDP Growth for Saudi Arabia in 2022; Highlights Solid Indicators
The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022, according to a report. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus increasing to 17.4 percent of GDP in 2022.
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Arabian Business’ Announces ‘Most Influential Arabs 2022’
Regional publication Arabian Business has revamped its “Arab Power List” and is introducing the Most Influential Arabs 2022 to “celebrate and recognize the public sector figures, CEOs, founders and presidents, educationalists and financiers, healthcare leaders and entrepreneurs who are making a difference in the world.”
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MUST-READS
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Mastercard Women’s Leadership Network Expands into Saudi Arabia, Empowering Women in Finance
As part of its commitment to connecting and powering an inclusive, digital economy that benefits everyone, everywhere, Mastercard is pleased to announce the launch of a new Women’s Leadership Network (WLN) chapter in Saudi Arabia and extension of its Accelerator Program in EEMEA in partnership with Women Choice to Saudi Arabia.
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Saudi Arabia restricts visit visa holders from entering Makkah during Hajj season
The Saudi Ministry of Interior has announced entry restrictions to Makkah for holders of all types of visit visas from May 23 to June 21, 2024, coinciding with the upcoming Hajj season. The ministry clarified that visit visas do not include authorization to perform Hajj. Visitors currently in Saudi Arabia on visit visas are advised to refrain from traveling to Makkah during this period to avoid penalties under the Kingdom’s regulations. These measures are part of the security and organizational preparations aimed at ensuring the safety and security of authorized pilgrims and allowing them to perform their religious rituals without disruption.
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U.S. concerned about Israel threat to collapse Palestinian economy
Even as it urges greater Israeli restraint in Gaza and the reopening of the Rafah border crossing for humanitarian aid, the United States is expressing growing concern about the potential economic collapse of the Palestinian Authority and the instability that would cause in the West Bank and ultimately Israel, amid threats by an ultra-nationalist Israeli minister to cut off Palestinian banks from the Israeli financial system.
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Saudi anti-corruption agency finds hidden, destroyed evidence in food poisoning cases
Initial investigations into the recent cases of food poisoning reported in Riyadh found that several attempts had been made to conceal or destroy evidence, Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) said in a statement on Thursday.
The investigation suggested potential collusion by a small number of food inspectors who prioritized personal gain over public health and safety, the statement added.
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Fincantieri continues Middle East push with Saudi Arabia subsidiary
The Saudi unit will support the kingdom’s development agenda, focusing on the cruise, defence and offshore sectors and developing more energy-efficient ships, in line with Saudi Arabia’s own stated goal of culling its emissions by 2060. The announcement was made at the margins of an industry conference in Riyadh themed Where Vision Meets Maritime Excellence, attended by Saudi and Italian government officials including Italy’s Deputy Prime Minister and Minister of Foreign Affairs.
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Saudi Arabia spending big for a place on the gaming map
"We don't pause. We don't do neutral," Savvy Games CEO Brian Ward said in a joint interview in Japan with Prince Faisal bin Bandar bin Sultan Al Saud, chair of the Saudi eSports Federation. "It's a good time to be in the market, looking for good teams in studios," said Ward, a former executive at "Call of Duty" maker Activision Blizzard, Electronic Arts and Microsoft.
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Saudi Aramco interested in buying minority stake in Repsol’s renewable unit, Expansion reports
State-controlled oil company Saudi Aramco (2223.SE), opens new tab is interested in buying a minority stake in the renewable unit of Spanish oil company Repsol (REP.MC), opens new tab, newspaper Expansion reported on Friday, citing unidentified market sources.Saudi Aramco has approached Repsol as it is mostly interested in the Spanish company's renewable assets in the U.S. The Saudi giant had not filed a formal offer yet, Expansion said.
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‘Norah,’ Saudi Arabia’s first Cannes Film Festival entry, makes international debut
The Saudi film ‘Norah,’ Saudi Arabia’s maiden entry into the Cannes Film Festival, was screened on Thursday for international audiences for the very first time at the 77th edition of the festival.
The film was screened at Cannes’ prestigious Un Certain Regard, “a certain look,” section – a significant symbol of the Kingdom’s rapidly growing film industry following the lifting of a 35-year-old ban on cinema in 2017.
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Are new agencies meeting Saudi brand needs?
The Saudi Arabian marketing landscape is abuzz with new agencies emerging almost daily, each promising unparalleled creativity to eager brands. Amidst this whirlwind of pitches and presentations, the question arises: are these agencies genuinely addressing the evolving needs of Saudi brands? Campaign Middle East heard from Abdulelah Al Nahari, Business Director at Fuse Integrated. He shed light on what new agencies entering the Saudi market should keep in mind in the early stages of their operations.
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Saudi Arabia’s envoy opens ‘Al-Mangour: Loved and Beloved’ exhibition in US
Princess Reema bint Bandar, Saudi Arabia’s US ambassador, opened the exhibition “Al-Mangour: Loved and Beloved” in Washington on Wednesday. The work by Saudi Arabia artist Ahmad Angawi was presented by the Saudi Embassy and the International Finance Corporation. The exhibition, held at the IFC’s headquarters, showcases the beauty of Al-Mangour, the traditional Hijazi craft that consists of wooden latticework forming a mesh-like screen.
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