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  • Damac Group invests $1 billion in data centers, eyes Saudi expansion

    Luxury conglomerate Damac Group is making a significant pivot towards the future with a $1 billion investment in data centers and a growing focus on artificial intelligence (AI). Recognizing the increasing demand for robust digital infrastructure, Damac is strategically expanding beyond its core real estate, hospitality, and property management businesses.

  • Climate change boosted deadly Saudi haj heat by 2.5 C, scientists say

    The heatwave in Saudi Arabia blamed for the deaths of 1,300 people on the haj pilgrimage this month was made worse by climate change, a team of European scientists said on Friday. Temperatures along the route from June 16 to 18 reached 47 degrees Celsius (117 degrees Fahrenheit) at times and exceeded 51.8 C at Mecca's Great Mosque. The heat would have been approximately 2.5 C (4.5 F) cooler without the influence of human-caused climate change, according to a weather attribution analysis, opens new tab by ClimaMeter.

  • Saudi Arabia launches e-visas for Esports World Cup attendees in Riyadh

    Saudi Arabia is set to issue electronic visas for attendees of the first Esports World Cup, which will commence in Riyadh on July 3, 2024. The move is a collaborative effort between the Esports World Cup Convention and the Saudi Ministries of Foreign Affairs and Tourism.

  • Saudi Arabia’s trade surplus hits highest annual amount of $11.4 billion in April

    Saudi Arabia’s trade balance recorded a surplus of SR41.41 billion in April 2024, reaching its highest levels during the current year, achieving 36 percent growth on a monthly basis. According to preliminary data on international trade released by the General Authority for Statistics (GASTAT), there has been an increase of SR10.967 billion in April compared to the surplus of SR30.443 billion achieved in the previous month of March.

  • Saudi developer Dar Global eyes $300 million investment in US expansion

    "We are really focusing on closing the first project in the United States before the end of the year," El Chaar said in an interview from Dubai. He said Dar Global is ready to raise debt in and outside the United States to help finance its U.S. projects, and that its $300 million investment will be in the form of equity.

  • Saudi developer Dar Global eyes US$300 million investment in US expansion

    SAUDI Arabia’s property developer Dar Global plans to invest US$300 million in New York, Miami and Los Angeles in the coming months as it seeks partners to develop luxury homes in the United States.

    London-listed Dar Global hopes to announce its latest development in the United States before the year end, said Ziad El Chaar, Dar Global’s chief executive officer.

  • Deputy Secretary Campbell’s Meeting with Saudi Minister of Communications and Information Technology al-Swaha

    Deputy Secretary of State Kurt M. Campbell met today with Saudi Minister of Communications and Information Technology Abdullah al-Swaha.  They discussed a range of issues to expand U.S.-Saudi bilateral economic relations including partnerships in science and technology.  Deputy Secretary Campbell expressed the United States’ support for Saudi Arabia’s Vision 2030 and exchanged views with Minister al-Swaha on deepening bilateral cooperation for safe, secure, and trustworthy Artificial Intelligence.

  • 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.
     

  • Assessing Climate Adaptation Plans in the Middle East and North Africa

    The region’s vulnerable populations and ecosystems face an array of severe hazards, including drought, heat waves, and other extreme meteorological phenomena. Moreover, the MENA region relies heavily on climate-sensitive agriculture, with a substantial proportion of its populace and economic activity concentrated in coastal zones that are susceptible to flooding.

  • How Did the Taliban Power Grab Change Afghanistan’s Opium Economy?

    With the Taliban retaking power in April 2022, the new Afghan government instituted a strict ban on the cultivation of poppy, not only curtailing the supply of illicit substances like heroin but also that of medical prescription opioids. As a result, potential opium production dropped by 95 percent between 2022 and 2023 to 333 tons.