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  • Saudi Arabia condemns assassination attempt on former US president Trump

    Saudi Arabia on Sunday condemned the assassination attempt against former US president Donald Trump. In a statement by the foreign ministry, the Kingdom stressed its “rejection of all forms of violence” and expressed its “complete solidarity with the United States of America, the former president and his family.”

  • Thailand investment body opens first Middle East office in Saudi Arabia

    The Thai Board of Investment (BOI) officially inaugurated its office in Saudi Arabia to capitalize on investment potential and regional cooperation. This marks its first office in the Middle East, launched during the "Saudi-Thai Investment Forum" held in Riyadh on Sunday, with senior government officials and business leaders from both countries in attendance.

  • Turkish President Erdogan receives Saudi foreign minister

    Turkish President Recep Tayyip Erdogan on Sunday received Saudi Foreign Minister Prince Faisal bin Farhan Al Saud. “President Recep Tayyip Erdogan received Minister of Foreign Affairs of Saudi Arabia Prince Faisal bin Farhan bin Abdullah Al Saud at the Dolmabahce Presidential Office in Istanbul,” said the country’s Communications Directorate on X. Turkish Foreign Minister Hakan Fidan, who earlier Sunday had one-on-one talks with his Saudi counterpart, also attended the closed-door reception held at the Dolmabahce Palace Presidential Office.

  • Why Buy Now, Pay Later (BNPL) services are booming in UAE and Saudi Arabia

    In a recent study, Redseer Strategy Consultants shared that the use of Buy Now, Pay Later (BNPL) services is on the rise in the Middle East. Interestingly, the UAE and the Kingdom of Saudi Arabia (KSA) outscored their regional peers. Charting the growth of the BNPL industry in the region, Redseer notes that in 2022, one in 10 consumers was using BNPL services. But by 2023, this figure had doubled, with one in five consumers now using BNPL options for online transactions.

  • Saudi Arabia Ramps Up Purchases of Dirtiest Oil Amid Scorching Summer

    Saudi Arabia is the region’s biggest buyer of fuel oil, a type of dirty product that’s left over after refineries produce transport fuels like gasoline and diesel. It also burns crude oil directly to produce electricity, which likely contributed to the kingdom’s exports dropping to a 10-month low of about 5.6 million barrels a day in June, according to data compiled by Bloomberg. Fuel oil is mostly sold at a discount to crude since it’s heavier and more polluting.

  • Saudi Arabia emphasizes commitment to chemical weapons ban

    Saudi Ambassador to the Netherlands and Permanent Representative to the Organization for the Prohibition of Chemical Weapons, Ziad Al-Attiyah, reaffirmed Saudi Arabia’s commitment to enhancing international cooperation to prohibit all weapons of mass destruction and prevent their proliferation.

  • Saudi roads see 92% decline in accidents with new solar lighting

    This significant reduction resulted from installing solar-powered lighting at 149 road intersections across the country. This initiative has enhanced traffic safety by improving night visibility and clearly marking pathways for road users. The adoption of solar energy for lighting has also reduced operational costs and carbon emissions associated with traditional energy sources. The authority reported handling over 11,914 comments received through the call center and other digital channels. These included services for raising reports and requests, as well as answering all inquiries. The average response time was only seven seconds, with a service level of 93%.

  • Saudi Arabia tops MENA for venture capital investment in H1 2024

    Saudi Arabia has taken the top rank across MENA in terms of the amount of venture capital (VC) funding in H1 2024, with about $412 million, according to venture data platform MAGNiTT.  The Saudi venture investment market began the year in line with its performance in H1 2023, with non-mega deals accounting for 68% of the value of venture investment in H1 2024, up from 35% in H1 2023, according to MAGNiTT.

  • Kingdom of Gamers: Saudi Arabia to Host Inaugural Esports Olympiad

    In a groundbreaking move, Saudi Arabia has announced plans to host the first-ever Olympic-style Esports Games in 2025. This historic event will thrust competitive gaming into the global spotlight like never before, solidifying its status as a true mainstream phenomenon. The scope and scale of modern esports has transformed dramatically over the past two decades. What was once considered a niche hobby for socially awkward basement-dwellers is now a multi-billion dollar industry attracting worldwide audiences and elite athletic talent. The time is ripe for esports to take its rightful place alongside classic Olympic sports.

  • Saudi Arabia Crown Prince’s Transformation Stress-tests Economy and Stretches Petrowealth

    With the budget in deficit for six straight quarters, Saudi Arabia has become the biggest issuer of international debt in emerging markets. And its decision to cut oil production with other OPEC+ members in 2023 has failed to raise export revenues substantially. The Gulf country’s oil earnings have dropped around one-third from 2022 levels, when Brent crude averaged nearly $100 a barrel thanks to Russia’s invasion of Ukraine. That’s weighing on the kingdom’s overall economic stability as it keeps spending on Prince Mohammed’s huge projects, which include everything from the new city of Neom to tourist resorts, football leagues and AI investments.