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  • Transforming Saudi Arabia: Embracing AI For The Future Of Work

    Saudi Arabia has committed to massive investments in artificial intelligence which will make it both the largest player in the Middle East and a globally important one. A Saudi tech fund was announced earlier this year with the participation of American banks which will fund to the tune of $40 billion.

  • Saudi Islamic Banks Supported by Solid Operating Environment; Liquidity Tighter

    Saudi Islamic banks are well-placed in the banking sector, with larger retail franchises supporting higher margins, a lower cost of funding, and better asset quality. In general, financing growth has outpaced lending over the past few years, supported by the requirement for residential mortgages to all be sharia-compliant. Islamic banking is dominant in Saudi Arabia, with the largest proportion of Islamic financing (85%) of any country that allows conventional banks to operate alongside Islamic banks.

  • Saudi Arabia says ongoing Israeli military operations threaten regional security

    The Kingdom’s Deputy Minister of Foreign Affairs, Waleed Bin Abdulkarim Al-Khuraiji, made his comment during the 19th meeting of foreign ministers in the Asian Cooperation Dialogue (ACD) Forum, hosted by Iran. Speaking on behalf of Foreign Minister Prince Faisal Bin Farhan Bin Abdullah, he stressed “the importance of doubling joint efforts and deepening cooperation coordination to face the many challenges, most notably the rise in conflicts, and the increasing challenges of food security and energy security, among others,” reported the Saudi News Agency.

  • Karim Elgendy: Climate Diplomacy in the Middle East

    This forced rural to urban migration resulting from the drought—which anecdotally was the worst drought Syria had experienced in the last 800 years, according to some estimates by NASA—has done two things. One, it has obviously relocated 800,000 people into new areas where they have no jobs. They have no skills. There are no services for them, and they also lost all their wealth because 85 percent of all privately owned cattle reportedly died.

  • New video and documents revive questions about Saudi role in 9/11 attacks

    The video, which was unsealed in federal court last week, was a self-narrated video that shows Al-Bayoumi giving a tour of landmarks in Washington, DC. The video was shot over several days in 1999 and included footage of entrances, exits and security checkpoints in the U.S. Capitol.

  • Saudi-backed Almar Water seeks lithium partnership in Chile, CEO says

    Almar Water Solutions, part of Saudi Arabian group Abdul Latif Jameel, is looking to form a partnership with Chile's state mining giant Codelco in its planned Maricunga lithium mining project, Almar's chief executive said on Tuesday. The Spain-based firm, which focuses on water solutions for renewable energy production, wants to leverage its technology in the extraction of battery-metal lithium, a water-intensive process, CEO Carlos Cosin told Reuters.

  • The Gwadar-Chabahar Standoff

    The involvement of two global powers in projects situated within a proximity of just over 100 miles presents a notable geopolitical dynamic: the Gwadar port in Pakistan, spearheaded by China, and the Chabahar port in Iran, backed by India. The question arises: Will the enduring rivalries between India and China extend to these strategically significant ports? 

  • At Least 11 Americans Among Those Dead in Hajj Pilgrimage to Saudi Arabia

    The couple were among the more than 1,300 people who died while making the annual pilgrimage to the holy city of Mecca, as temperatures reached 120 degrees at times. The Saudi government said that the vast majority of them did not have permits.

  • Saudi’s Arabian Mills plans to list 30 percent stake in IPO

    Saudi Arabia’s Arabian Mills for Food Products is planning to list 15.4 million shares, equal to a 30 percent stake, on its local bourse, according to a statement by the Saudi Capital Markets Authority (CMA). The CMA has approved Arabian Mills’ public listing application, and the company will publish the IPO prospectus “within sufficient time prior to the start of the subscription period.” However, the CMA did not provide a timeline for the listing.

  • Saudi Arabia launches ‘unprecedented’ geographical survey of renewable energy sites

    Part of the National Renewable Energy Program, the ambitious project will identify the best sites to develop renewable energy projects throughout the country. Contracted companies will install 1,200 stations across all regions of the kingdom to measure solar and wind energy. Beginning this year, Saudi Arabia will tender new renewable energy projects with a capacity of 20 GW annually.