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  • Amy Roko: The Saudi woman breaking down stereotypes in the GCC

    I gained a very loyal following the moment I joined Instagram. It was unusual to be a niqabi on social media when I first started. All I remember is I gained around 100,000 followers within the first two days and then every time I posted followers jumped around 10,000.

  • IEA Says Oil Market More Fragile as Resurgent Virus Hurts Demand

    The outlook for global oil markets has grown “even more fragile” as a resurgent pandemic derails the recovery in demand, the International Energy Agency said. The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories -- which rebounded to record levels in July -- won’t subside as sharply as anticipated.

  • AECOM secures backbone infrastructure design role for Saudi Arabia’s visionary NEOM region

    AECOM has been appointed to design transport and utilities backbone infrastructure for NEOM, a new model for urbanization and sustainability located in the northwest region of Saudi Arabia. In addition to design services, AECOM’s scope will also include environmental and geotechnical support.

  • Iran says it supports OPEC as long as its interests are protected

    Iran supports the Organization of the Petroleum Exporting Countries (OPEC) as long as the group protects Iranian interests alongside other members, Iran’s OPEC governor Amir Hossein Zamaninia said on Monday. Sixty years after its formation, OPEC’s founding members, Iran and Venezuela, have been sidelined by U.S. sanctions while its kingpin, Saudi Arabia, has shown it would rather appease Washington than risk losing U.S. support, according to current and former OPEC officials.

  • After UAE and Bahrain deals, is Saudi Arabia softening its stance on Israel?

    While Saudi Arabia is not expected to follow the example of its Gulf allies any time soon, Sudais’ remarks could be a clue to how the kingdom approaches the sensitive subject of warming to Israel - a once inconceivable prospect. Appointed by the king, he is one of the country’s most influential figures, reflecting the views of its conservative religious establishment as well as the Royal Court.

  • Human Rights Watch says aid interference in Yemen must stop

    Interference in aid operations by parties to Yemen’s conflict must stop as it is deterring donors and putting at risk millions of people who are dependent on assistance, Human Rights Watch (HRW) said on Monday. Across Yemen, the health, sanitation and nutrition services that keep millions from starvation and disease are gradually being shut amid an acute funding shortage. Donor concerns about aid obstruction and interference are part of the reason why funding is so low.

  • Saudi Arabia’s STC asks banks to pitch for subsidiary IPO: sources

    The company’s valuation could be around 9 billion riyals ($2.4 billion), if it garners 18-20 times its earnings multiples, one of the sources said. The IPO size could be around $500 million if the company sells 20%, the source said.

  • Why Saudi Arabia could soon rival Dubai for fintech funding

    “Right now it’s the market that I’m seeing have the most exciting growth relatively. I think Dubai remains the epicentre in terms of number of deals, size of deals and the underlying maturity of the start-up ecosystem, but there’s no doubt that Saudi is sprinting forward, really propelled by this combination of a compelling, deep, local market that’s hungry for tech-enabled solutions; along with a new fuel of venture funding that’s blossomed in the last year or two.”

  • PIF sets up 26 wholly-owned firms to boost Saudi economy

    Saudi sovereign wealth fund Public Investment Fund (PIF) established 26 fully-owned subsidiaries during the past few years in a bid to drive the kingdom’s economic growth in various fields and support emerging sectors in line with the National Vision 2030. The announcement was made by the PIF on Sunday on its official Twitter account. The PIF leads the Saudi transformation plan aiming to diversify the GCC nation's economy within the framework of the National Transformation Plan 2020.

  • Saudi’s ‘Sakani’ delivers ready villas across 23 projects in August 2020

    The Saudi Arabia Ministry of Housing’s ‘Sakani’ programme has delivered ready-made villas in more than 23 projects across various regions of the kingdom in August 2020, with beneficiaries having reserved their houses ahead of signing the final contract. In August, the ‘Sakani’ programme delivered pre-fabricated villas in the Dawadmi, Shaqra, Zulfi, and Majmaah housing projects of Riyadh; the Al-Khurma housing project in Makkah Al-Mukarramah; and the Buraidah, Unaizah, Al-Mithnab, Uyun Al-Jawa, and Al-Bada’a housing projects in the Qassim region.