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  • Tel Aviv hit by drone attack claimed by Iranian-backed Houthis

    A long-range Iranian-made drone hit the centre of Tel Aviv in the early hours of Friday in an attack claimed by the Yemen-based Houthi militia that killed one man and wounded four others, the Israeli military and emergency services said. The explosion, which footage shared on social media suggested came from the sea and did not trigger air raid alarms, occurred hours after the Israeli military confirmed it had killed a senior commander of the Iran-backed Hezbollah militia in southern Lebanon.

  • Global cyber outage grounds flights, hits banks, telecoms, media

    A software update wreaked havoc on computer systems globally on Friday, grounding flights, forcing some broadcasters off air and hitting services from banking to healthcare. An update to a product offered by global cyberscurity firm CrowdStrike (CRWD.O), opens new tab appeared to be the trigger, affecting customers using Microsoft's (MSFT.O), opens new tab Windows Operating System. Microsoft said later on Friday the issue had been fixed.

  • China’s solar industry finds oasis in the Middle East

    China's solar energy giants such as JinkoSolar, LONGi Green Energy Technology, TrinaSolar, and JA Solar Technology, have struggled since 2023. LONGi and JA Solar recorded losses in the first quarter of 2024, while JinkoSolar and TrinaSolar saw their net profits plunge by 29.09% and 70.83%, respectively, to CNY 11.76 billion (US$1.62 billion) and CNY 5.16 billion. Solar silicon wafer providers Tongwei and TCL Zhonghuan Renewable Energy Technology also swung from profit to loss.

  • Saudi Arabia signs deals for 30GW domestic solar PV manufacturing

    Both agreements, made through joint ventures (JV), will bring 30GW of solar PV manufacturing, from ingots to modules, to Saudi Arabia. The agreements have been made by the Renewable Energy Localization Company (RELC), a fully-owned PIF company, along with the participation of Saudi renewables investor Vision Industries (VI) and the Chinese manufacturers.

  • Saudi Arabia’s Riyadh may be crypto’s sleeping giant

    Though the word “cryptocurrency” was largely avoided at the event, Siu’s message seemed clear: Saudi Arabia may not have made definitive moves in the realm of blockchain and crypto, but it is a sleeping giant in terms of wealth, population and influence, and can set the tone of the industry for the entire region.

  • Slowing Chinese economy no threat to Saudi oil exports – yet

    Slower economic growth in China in the second quarter of this year has raised concerns about Saudi Arabia’s ability to maintain funding lines from its main trading partner. The Chinese economy grew at a year-on-year rate of 4.7 percent, down from 5.3 percent in the previous quarter. In the retail sector, the pace of growth slowed to an 18-month low as deflationary pressures forced businesses in the world’s second-largest economy to cut prices on everything from cars to food and clothes.

  • Saudi’s New Murabba Stadium will be ready for the 2034 FIFA World Cup

    Part of the grand $800 billion New Murabba project, the stadium is just one piece of the puzzle. The project aims to double the size and population of the capital, turning downtown Riyadh into a cultural hotspot. Alongside the stadium, the project will include a museum, a technology and design university, a multi-purpose immersive theatre, and over 80 cultural and entertainment venues.

  • Saudi Arabia stresses importance of strengthening international order to prevent chaos and conflicts

    Moreover, the Cabinet reaffirmed the Kingdom’s commitment to enhancing international cooperation to ban weapons of mass destruction and prevent their proliferation during the meetings of the Executive Council of the Organization for the Prohibition of Chemical Weapons. The Cabinet emphasized the organization’s role in maintaining international peace and security and the full and effective implementation of all provisions of the Chemical Weapons Convention.

  • Saudi Crown Prince congratulates Iranian President on election victory during a phone call

    Crown Prince and Prime Minister Mohammed bin Salman congratulated President Dr. Masoud Pezeshkian on winning the presidential elections in Iran during a phone call on Wednesday. The Crown Prince and President Pezeshkian praised the development of relations at all levels, stressing the importance of continuing to enhance cooperation in various fields between the two countries. The Iranian President expressed his gratitude and appreciation to Crown Prince Mohammed bin Salman for his kind wishes.

  • Saudi Aramco backs AI startup

    A venture unit of Saudi Arabian oil company Aramco is making its first U.S. AI-related investment, backing a pre-Series A round for San Francisco-based AiXplain, AiXplain is one of a growing number of startups that aim to transform generative AI from chatbots into agents who can take action. The startup also wants to ensure that Arabic languages are better represented.