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  • Saudi Students Flood In as U.S. Reopens Door
     

    The more than 300 graduates gathered at a hotel overlooking the Potomac River were all from Saudi Arabia, part of a massive government-paid foreign study program to earn bachelor’s, master’s and doctorate degrees and return home to help run their country. “You are the best of the best, and the future of our country,” Saudi […]

     
  • Saudi consumer electronics market surges
     

    Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at $6.4 billion in 2012, Business Monitor International said in “Saudi Arabia Consumer Electronics Report Q2 2012″report. This is expected to increase to $8.2 billion by 2016, driven by the growing […]

     
  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Ramadan 1433
     

    Ramadan means more in the lives of Muslims than refraining from eating and drinking during the daylight hours. The ritual fasting during the holy month is among the five pillars of Islam: Shahadah, the declaration of faith; Salat, five daily prayers; Zakat, charitable giving; Hajj, the pilgrimage to Mecca; and Sawm of Ramadan, the ritual […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Muslims across the world prepare to observe Ramadan
     

    Muslims around the world begin fasting on Friday in observation of Ramadan, the holiest month in Islam when the faithful abstain from eating food or drinking water from sunrise to sunset…. Every year, identifying the start of Ramadan is like a waiting game; Islamic scholars must see the new crescent moon in the night skies […]

     
  • Gulf States Move to Diversify Income Sources
     

    Saudi Arabia, the world’s biggest oil exporter, has identified mining as a key investment area after oil and petrochemicals, and is spending an estimated $38 billion to develop two cities centered around mining…“The idea is to try and improve the range of benefits and advantages of doing business in the G.C.C. and in Saudi Arabia, […]

     
  • Moving forward with nationalisation in Saudi Arabia
     

    “Nitaqat represents an effort to introduce more incentives for companies to employ Saudis and in that sense it is an improvement on what went before,” says James Reeve, an economist at the local Samba Financial Group. “The reason you are hearing more complaints is probably because the system is being enforced with greater vigour.” Despite […]

     
  • More than half of GCC population under age 25
     

    The countries of the Gulf Cooperation Council (GCC) have a low population compared with other regions, totaling 45 million people in 2011, less than 1 percent of the global population, a recently published report read. The report, filed by Kuwait Financial Center (Markaz), highlighting the GCC demographic shift, said the region is young, with 54 […]

     

MUST-READS

  • Saudi Arabia, Russia to maintain ‘close coordination’ on OPEC+: Kremlin

    Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin reaffirmed their countries’ commitment to the OPEC+ oil production accord among other bilateral issues in a phone call late July 17, the Kremlin said in a statement. “The importance of continuing close coordination within the framework of OPEC+ to ensure stability in the energy market was noted,” the statement said. A Saudi statement posted by the official Saudi Press Agency did not mention the OPEC+ agreement but said the two leaders “discussed a number of issues and topics of common interest” in a phone call initiated by the crown prince.

  • Saudi Arabia rolls out red carpet for foreign filmmakers

    The government is also offering financial incentives. The state-run Saudi Film Commission gives rebates of up to 40 per cent on production spending, compared with the 30 per cent offered by regional rivals such as Egypt and Morocco. Filmmakers can also apply for a share of a $234mn Saudi Cultural Development Fund pot. Film commission officials say their incentive package gives Saudi Arabia a competitive advantage. “In other countries you just get the cash rebate, then you are on your own when it comes to dealing with different government departments,” said one. “We handle the whole thing.”

  • Non-Oil Activities Drive Saudi Economic Diversification Efforts

    Experts speaking to Asharq Al-Awsat anticipate non-oil sector participation to rise to approximately 65% by 2030, driven significantly by private sector contributions. They noted significant economic evolution towards income sources beyond oil, such as investments in coastal infrastructure projects.

  • Launch of Saudi Arabia’s NEOM Airlines on hold – report

    Other developments facing cutbacks, the sources claimed, include the Qiddiya Coast, a tourism and entertainment project in Jeddah on the Red Sea once projected to have a potential budget of USD50 billion. Downsizing of other projects can be expected as the government committee finalises its review.

  • Ahmed Mater: The Saudi artist documenting a kingdom in flux

    Born in Tabuk in 1979, Mater grew up in Abha in southwestern Saudi Arabia, close to the militarized Yemeni border, at a time of immense social change in the region. The first presentation of his art outside the Kingdom came in 2005 at an exhibition hosted by the British Museum in London. Just over a decade later, he became the first artist to host a solo exhibition in the US, with “Symbolic Cities: The Work of Ahmed Mater” in 2016.

  • 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.