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  • Saudi Arabia takes on debt to finance its megaprojects

    Nevertheless, the risks, which the kingdom has carefully considered, remain manageable: Saudi Arabia's public debt is low (26.5% of GDP in 2023, compared with 65% in Germany and 112% in France), and its fiscal room for maneuver is substantial.

  • Saudi Arabia pledges $40M to support UN agency for Palestinian refugees

    Saudi Arabia announced Wednesday that it will donate $40 million to the UN agency for Palestinian refugees (UNRWA), which has been under pressure following funding cuts due to Israeli allegations, the Saudi Press Agency reported. The King Salman Humanitarian Aid and Relief Centre (KSrelief) signed a $40 million financial support memorandum with UNRWA to support its emergency appeal in Gaza, said the report.

  • Saudi Arabia could become the largest player in the AI industry

  • The four Grand Slams, the two tours and Saudi Arabia are all hoping to revamp tennis

    Tennis could be on the verge of massive structural change if one of two separate proposals formulated by the four Grand Slam tournaments and the WTA and ATP professional tours ends up moving forward

  • FIFA Series 2024 Saudi Arabia™ Set to Commence This Thursday in Jeddah

    FIFA has announced its support for its member federation in facilitating a set of international friendly matches. These games will include the participation of four national teams from diverse continental federations and will all take place in a single host country, with Saudi Arabia accommodating two such groups. Jeddah is poised to welcome the teams, staging the matches at the reserve stadium of King Abdullah Sports City and Prince Abdullah Al-Faisal Sport City Stadium, scheduled from March 21 to March 26 this year.

  • With $40B fund, Saudi Arabia looks to become world leader in AI

    Andreessen Horowitz regularly invests in AI, and the company’s co-founder, Ben Horowitz, is friends with PIF governor Yasir Al-Rumayyan, the sources told The New York Times. The pair have mooted the possibility of the Silicon Valley firm setting up an office in Riyadh, one source told the newspaper. Read more: https://www.al-monitor.com/originals/2024/03/40b-fund-saudi-arabia-looks-become-world-leader-ai#ixzz8V6wWnoWm

  • NDMC closes the March 2024 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Program

    The National Debt Management Center announces the closure of March 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The Total Amount Allocated was set at SAR 4.441 Bn (four billion and four hundred and forty one million Saudi Riyals)​

  • Saudi Arabia distributes 1 million iftar meals in Riyadh, Jeddah and Dammam to curb road crashes

    A Saudi initiative has been launched to give away 1 million fast-ending iftar meals on main roads in the kingdom during Ramadan to reduce traffic accidents. Undertaken by the Saudi National Centre for Responsibilities and Studies and the Saudi Coffee Company Barn’s, the effort is aimed at distributing the meals at traffic signals and road intersections in the cities of Riyadh, Jeddah and Dammam during Ramadan to curb the pre-iftar accidents.

  • Saudi Arabia’s crude production rose to 8.96 mbpd in January: JODI

    According to the latest report by the Joint Organizations Data Initiative, the Kingdom’s crude exports in January declined by 11,000 bpd to 6.29 mbpd, signifying a 0.17 percent dip compared to December. Saudi Arabia’s decline in crude exports is attributed to the Kingdom’s decision to reduce oil output, aligned with an agreement by the Organization of the Petroleum Exporting Countries, and its allies, known as OPEC+.

  • Saudi Arabia greenlights IMF regional office in Riyadh

    Saudi Arabia has greenlit the International Monetary Fund’s (IMF) establishment of a regional office in the capital Riyadh, in a decision which is expected to enable further collaboration between the two and to boost the kingdom’s standing in the global financial community. According to the state-run Saudi Press Agency (SPA), the Saudi Cabinet – presided over by King Salman – approved the permission for the IMF to open its regional office in the Gulf state this week, around two years after they signed the initial agreement for the office back in 2022.