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  • Saudi FM Prince Faisal bin Farhan Meets with Secretary of State Mike Pompeo
     

    Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan has met with US Secretary of State Mike Pompeo in Washington on Thursday ahead of an international meeting of countries committed to defeating ISIS, according to reports and social media. “During the meeting, they discussed the Saudi-US long-established strategic partnership, especially the partnership in the fight against […]

     
  • Saudi-based STV Leads $23 Million Funding Round in Trukker
     

    Saudi-based Saudi Technology Ventures (STV) said in a blog post that it is leading a $23 million investment round in Trukker, a truck-focused digital freight marketplace and aggregator based in the UAE. “Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes,” […]

     
  • State Department Lauds ‘Strong counterterrorism relationship’ between Saudi Arabia and the United States
     

    The U.S. State Department’s recently-released country reports on terrorism praised the U.S.-Saudi “strong counterterrorism relationship” and said “through a range of counterterrorism initiatives, many in partnership with the U.S. government, Saudi Arabia took tangible steps to strengthen its counterterrorism capabilities in border security, counter terrorist financing, and [countering violent extremism].” “Based on local reporting, Saudi Arabia […]

     
  • Venture Capital Set for Ten-fold Growth Over the Next Six Years in Saudi Arabia
     

    Venture capital investments in Saudi Arabia are set to grow ten-fold over the next six years, according to a new report by Saudi Technology Ventures published by The National. The report says that Venture funding investments are at a “positive inflection point” and are set to grow to $500 million annually by 2025, from $50m last […]

     
  • To the Delight of Fans, Saudis Play Soccer Match in West Bank for First Time in Decades
     

    Saudi Arabia’s soccer team will play against the national team in Palestine in the West Bank for the first time in over a decade, delighting fans from both sides. The match, planned for Tuesday, has “electrified Palestinians” not just because it’s a World Cup qualifying match, but because it’s a home game actually played at […]

     
  • Officials Announce ‘Riyadh Season’, a Three-Month Series of Events
     

    Saudi officials have launched ‘Riyadh Season’, a new, three month series of events that will take place from October 15 to December 15 all around Riyadh. The countdown was launched by the chairman of the General Entertainment Authority, Turki Al Sheikh, on his twitter account in a video. The theme of the first season is ‘Imagine.’ Officials have […]

     
  • Saudi Arabia has Selected Haifaa Al Mansour’s ‘The Perfect Candidate’ as its Official Entry for the 2020 Oscars
     

    Saudi Arabia has selected Haifaa Al Mansour’s The Perfect Candidate as its official entry for the 2020 Oscars in the best international feature category, according to reports. Haifaa Al Mansour’s “The Perfect Candidate” is about a Saudi doctor who challenges the patriarchal system in her country by running in municipal elections. Al Mansour is one of the Kingdom’s best-known […]

     
  • Saudis Pay Tribute to Famous Bodyguard to Kings Killed in Dispute with Friend in Jeddah
     

    Saudi citizens took to social media to pay tribute to Maj. Gen. Abdulaziz Al-Fagham, the bodyguard to both the late King Abdullah and King Salman who was killed in argument with a friend in Jeddah, Saudi state media said. Al-Fagham, a tall and fit man who had a familiar face for many Saudis because he was […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • IMF suggests Saudi Arabia double its VAT to 10%
     

    The International Monetary Fund (IMF) suggested that Saudi Arabia would see positive economic benefits by raising its Value Added Tax (VAT) to 10% after successfully implementing a 5% VAT last year. “The introduction of the VAT in January 2018 was a landmark achievement, with revenue collections exceeding expectations,” the Washington-based lender said in a report […]

     

MUST-READS

  • Saudi Arabia’s $100 Billion AI Fund Says US Is No. 1 ‘Partner’

    “The US is the number one partner for us and the number one market for AI, chips and semiconductor industry.” Amit Midha, the head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology Alat, discusses his strategy. He speaks with Bloomberg on the sidelines of the Milken Institute Global Conference in California.  (Source: Bloomberg)

  • Minister of Industry and Mineral Resources Opens Riyadh International Industry Week 2024

    Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef today opened Riyadh International Industry Week 2024, which will run through May 9, at the Riyadh International Convention and Exhibition Center. The event, in which more than 500 companies, 385 international and 115 local, from 24 countries participate, was designed to embrace four exhibitions: the Saudi Exhibition for Plastics and Petrochemical Industries; Printing and Packaging; Smart Logistics Services; and Smart Manufacturing. Various capabilities will be reviewed, such as fair competition, a competitive environment, sustainability and exporting. The accompanying exhibition also includes many activities and events to support and strengthen industry in Saudi Arabia, review industry developments, and discuss ways to improve and develop them.

  • Hyatt expands its footprint in Saudi Arabia with two new signings

    Hyatt has signed management agreements with Knowledge Economic City (KEC) for two new Hyatt-branded hotels in Saudi Arabia, Hyatt House Madinah KEC and Hyatt Centric Madinah KEC. Scheduled to debut in the eagerly awaited Knowledge Economic City in Madinah, these properties will contribute 576 keys to Hyatt’s portfolio in Saudi Arabia.

  • Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

    Riyadh Air, which is owned by the Public Investment Fund, concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation as part of the national carrier’s efforts to shape the future of tourism in the Kingdom and advance air travel. The new partnership, which was signed at Arabian Travel Market (ATM) in Dubai, focuses on several key areas, including new routes and destinations, joint marketing activities, sponsorship opportunities, presence at key roadshows and international events and accessibility to tourism-related platforms. It also aims to explore collaboration in loyalty programs, leverage world-leading technology and new digital methods and engage in the Tourism Accelerator Program.

  • Saudi Arabia announces stringent penalties for unauthorised Hajj pilgrims

    Saudi Arabia has announced stringent penalties against individuals attempting to perform the annual Islamic Hajj pilgrimage without an official permit. The Ministry of Interior said that enforcement would begin next month, targeting those violating Hajj rules in Mecca, the Central Area, and sacred places from June 2 to June 20.

  • When is Eid al-Adha? And when will Hajj 2024 begin? All you need to know

    The Muslim world is gearing to celebrate Eid al-Adha this year on or around Sunday June 16, according to various astronomical calculations. The date, however, can change depending on the beginning of the Dhu al-Hijjah month. It is expected that Saudi Arabia will call on Muslims in the Kingdom to sight the crescent moon on June 6.

  • Expat remittances surge in Saudi Arabia, hit two-year high

    Monthly remittances of expatriates in Saudi Arabia reached SR11.9 billion in March, marking their highest in nearly two years, according to official figures. The remittances in March increased by 4 per cent against the same month last year, figures from the Saudi Central Bank showed.

  • Saudi Arabia AI development head reveals they will divest from China if US steps up and asks them to

    Amit Midha, CEO of Alat, Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology, stated that the country would divest from China if requested by the US. Alat is an investment firm backed by $100 billion in capital from the Public Investment Fund. Midha emphasized that while current requests focus on maintaining separate manufacturing and supply chains, Saudi Arabia would comply with US concerns and divest if partnerships with China posed issues.

  • Alipay+ expands to Saudi Arabia. Good news for luxury?

    Chinese fintech giant Ant Group is aggressively expanding abroad, with its eyes now on Saudi Arabia. Singapore-based Ant International, which extends the group’s innovative fintech solutions to global markets, has signed a Memorandum of Understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA) to facilitate business growth in the kingdom.

  • Saudi Arabia readies six airports to receive Hajj 2024 pilgrims

    Saudi civil aviation authorities said they have designated six main airports for receiving Muslims, who will attend next month’s annual Hajj pilgrimage. They are King Abdulaziz International Airport in the Red Sea city of Jeddah; Prince Mohammed bin Abdulaziz Airport in Medina; Taif International Airport in the western city of Taif; King Khaled International Airport in Riyadh; Prince Abdulmohsen International Airport in the coastal city of Yanbu; and King Fahd International Airport in the western city of Dammam.