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  • GAFT Heads Saudi Team at GCC-Türkiye Free Trade Negotiations

    The General Authority of Foreign Trade (GAFT) -- represented by GAFT Deputy Governor for International Organizations and Agreements and head of the Saudi negotiating team Farid bin Saeed Al-Asali -- led the Kingdom's delegation participating in the first round of negotiations of a free-trade agreement (FTA) between the Gulf Cooperation Council (GCC) countries and Türkiye, held in Ankara July 29 to 31.

  • Saudi Arabia formally bids to host FIFA World Cup 2034

    Saudi Arabia has officially submitted its bid to host the Fifa World Cup 2034. The bid books will be published after the official deadline ends on July 31, the football governing body said in a statement. Saudi officials, including sports minister Prince Abdulaziz bin Turki Al Faisal and Saudi Arabian Football Federation president Yasser Al Misehal, handed the bid book to Fifa.

  • Abu Dhabi Investor Backs AI Firm Founded by Saudi MIT Graduates

    Shorooq teamed up with other public and private institutions including Saudi Venture Capital Company, Saudi Technology Ventures and Olayan Financing Company in what it described as the largest Series A investment for an AI firm in the Middle East and North Africa. The funds will be used to develop the firm’s product offering and geographical expansion, according to a statement.

  • LME approves Saudi port as warehouse delivery point

    The London Metal Exchange (LME) has approved Red Sea port city Jeddah in Saudi Arabia as a warehouse delivery point for copper and zinc, it said on Monday. The exchange said the listing will become active three months after the first warehouse company has been approved in the new location. Warehouses registered with the LME, the world's largest and oldest metals trading venue, are usually located in areas of net metals consumption or top transit hubs such as Rotterdam.

  • A day of chaos in Israel as far-right protesters storm military bases

    Israel experienced hours of chaos on Monday after far-right protesters encouraged by ultranationalist politicians from the governing coalition broke into a military base where Hamas militants are detained and another base hosting the Israel Defense Forces military court.

  • Oil prices stabilise after Golan Heights attack

    Oil prices were stable on Monday as fears of a widening conflict in the Middle East after a rocket strike in the Israeli-occupied Golan Heights put a floor under last week's price losses. Brent crude futures gained 7 cents, or 0.09%, to $81.20 a barrel at 1007 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 1 cent, or 0.01%, to $77.17. The Brent and WTI benchmarks lost 1.8% and 3.7% respectively last week on sagging Chinese demand and hopes of a Gaza ceasefire agreement.

  • How AI is unlocking the creative potential of Saudi Arabia’s burgeoning fashion industry

    Saudi Arabia has witnessed a remarkable transformation in its fashion industry in recent years, emerging as a vibrant and dynamic regional hub of creativity. Now, thanks to the power of artificial intelligence, more opportunities are fast emerging. With a blend of traditional influences and modern innovation, Saudi designers have been captivating global audiences, redefining cultural norms, and showcasing the Kingdom’s rich heritage through contemporary fashion.

  • Unearthing the transformative potential of Saudi Arabia’s mining sector

    Saudi Arabia’s mining sector is on the cusp of a transformative era, with the Kingdom determined to become a global leader in the industry. But have you wondered what treasures lie beneath its lands? Saudi Arabia is rich in minerals essential for various global industries. The Kingdom is transforming into a leading exporter of diverse energy types, shifting away from its traditional role as an oil producer.

  • Saudi hails kingdom’s first female Olympic swimmer Mashael Alayed

    Saudi dignitaries on Sunday hailed the performance of Mashael Alayed, the first female swimmer from the kingdom to compete in an Olympics. The 17-year-old is the only female swimmer in the delegation and smashed her personal best to come sixth of seven in her 200 metres freestyle heat. Female athletes were for many years an untapped reservoir of talent in the conservative Islamic state, with girls banned from participating in sport at public schools until 2017 and women not allowed into sports stadiums until the following year.

  • Saudi Arabia plans 92,000-capacity stadium in Riyadh

    Saudi Arabia said on Sunday it plans to build a 92,000-capacity stadium in Riyadh that can host major international events, with the kingdom looking set to win the right to host the 2034 World Cup. The Saudi sports ministry unveiled the approved design for the stadium, which is scheduled to be completed in the fourth quarter of 2029, according to the state news agency SPA. The stadium is set to serve as the main base of the Saudi national team and will be part of a sports complex featuring an indoor sports hall, an Olympic-sized pool and other facilities. It will be named after Saudi King Salman.