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Saudi Arabia Sees Traction with Green Initiatives as Kingdom Climbs Ranks of MIT’S Green Future Index
Saudi Arabia advanced 10 places in the second edition of the Green Future Index, issued by MIT Technology Review, evidence that the Kingdom is seeing progress in its goals outlined in the new Saudi Green Initiative announced by Crown Prince Mohammed bin Salman last year.
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Saudi Ambassador to United States Reema bint Bandar Al Saud Joins CNN for Extensive Interview
Princess Reema bint Bandar Al Saud, Saudi Ambassador to the United States, sat down with CNN’s Becky Anderson in her first televised interview with international media since becoming the ambassador in early 2019.
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Riyadh Season Prepares for Oct. 21 Launch with Slogan ‘Beyond Imagination’, Cirque du Soleil Show
The expanded third edition of Riyadh Season will kick off on October 21st 2022 under the slogan “Beyond Imagination” with an international show by Cirque du Soleil, the General Authority for Entertainment has announced.
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Is Saudi Arabia Just at the Beginning of its Heritage and Antiquities Discoveries?
Saudi authorities indicated that the Kingdom has only begun to discover important cultural and heritage sites and artifacts across Saudi Arabia, with Heritage Commission CEO Dr. Jasser Bin Suleiman Al-Harbash stating that archaeological sites, which have been discovered in the Kingdom, constitute only 15% of Saudi Arabia’s treasures.
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Report – Saudi NEOM’s Tech Unit Rebrands as Tonomous and Will Invest $1 billion in 2022
NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday, according to a Reuters report.
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Saudi Arabia’s PIF Eyes a Stake in Regional Starbucks Franchise — Report
Saudi Arabia’s Public Investment Fund is leading a consortium of investors which has emerged as the frontrunner to buy a minority stake in Kuwaiti conglomerate Alshaya Group’s Starbucks Corp. franchise, people familiar with the matter told Bloomberg.
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Iraq’s Clashes Sends Oil Higher Before Retreat
Oil surged to the biggest gain in six weeks before paring some of those gains after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad, according to Bloomberg.
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PIF Returns to Buy-Low Playbook with 2Q Stock Market Buying Spree
Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter, Reuters reports.
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Report: Saudi, UAE Save Remaining Spare Capacity for Potential Winter Supply Crisis
According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output “should the world face a severe supply crisis this winter,” sources familiar with the thinking of the top Gulf exporters told Reuters in an exclusive report.
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OPEC, Allies Agree to Increase in Oil Production
Saudi Arabia and the OPEC+ group of oil-producing countries agreed to a small increase of 100,000 bpd in oil production on Wednesday after the U.S. and other consuming nations called for more crude in the market, according to reports.
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MUST-READS
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The case for Arab and Muslim Americans to rally behind Kamala Harris
Unable to stomach either candidate, many Arab Americans may stay home or vote for Green Party candidate Jill Stein — choices that could potentially sway the result, particularly in the state of Michigan. But anything other than a vote for Harris will be, in effect, a vote for Trump. There are over 300,000 Arab Americans in Michigan. President Joe Biden won there in 2020 by about half that, just over 150,000 votes. Arab and Muslim Americans will also be a significant factor in Pennsylvania, Georgia and elsewhere. With the election so close, every voter and nonvoter will most likely contribute to the outcome.
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Saudi Arabia one of the happiest countries in the world, survey reveals
The Kingdom scored highest out of all 24 countries in the study, with South Korea ranking lowest at 39 percent and Europe overall sitting at 50 percent. Saudi Arabia leads the top 10 countries for satisfaction with a score of 84%, followed by Egypt (81%), India (76%) and Indonesia (75%). The bottom countries are South Korea at 39%, Turkey (41%) and Japan (43%). The US came in at 71%, while the UK scored 63% and France was at 52%. According to the research, physical health, mental health and financial security are the three key ingredients for a good quality of life.
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Saudi Arabia spending $800m on Riyadh road projects
The road sector in Riyadh region is witnessing a significant transformation. The region’s total length of roads is approximately 15,000km, and efforts are currently underway to implement new road projects and other maintenance projects in all governorates of the region at a total cost of approximately SR3bn ($799m). The Roads General Authority (RGA) stated that it has executed 23 road projects in the Riyadh region. These projects include 20 preventive maintenance projects spanning 215 km, which cost SR170m ($45m), and three projects to enhance traffic safety, which cost more than SR171m ($45m).
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$5,300-a-Night Hotel Showcases Saudi Push to Become Tourism Hub
Just six years ago, it would have been unfathomable for hotel operators to be jockeying to deepen their foothold in the kingdom. But Saudi Arabia has since flung open its doors to tourism — making it easier for visitors to secure necessary visas, loosening dress codes for women and ditching a requirement that males and females prove they’re related before allowing them to share a hotel room. Analysts now expect the number of hotel rooms to more than double by 2030 as developers pour $110 billion into hospitality projects across the country — giving Saudi Arabia one of the biggest hotel pipelines on the planet.
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Saudi fashion market cutting its cloth to new measurements thanks to e-commerce boom
The fashion market in Saudi Arabia is expected to generate $4.37 billion in revenue in 2024, with a compound annual growth rate of 11.62 percent from 2024 to 2029, according to Statista. This will lead to a market volume of $7.57 billion in the next five years, underscoring the rising demand for fashion products, fueled by a growing population, increased disposable income, and the government's strategic focus on fostering non-oil industries.
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4,000-year-old ancient settlement discovered in Saudi Arabia’s Khaybar Oasis, sheds light on early urban life
The town, named al-Natah, was found within Khaybar’s walled oasis, a lush region surrounded by desert. Led by French archaeologist Guillaume Charloux, the team discovered a 14.5-kilometer wall enclosing the residential area. This discovery, published in the journal PLOS One, provides tangible evidence of organized occupancy. Dating back to around 2400 BC during the early Bronze Age, al-Natah is believed to have supported up to 500 residents. This highlights its importance in the region’s historical landscape and enhances our understanding of social and architectural developments of the time.
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India eyes fintech, clean hydrogen cooperation with Saudi Arabia
“This visit marks a significant milestone in strengthening the strategic partnership between India and the Kingdom of Saudi Arabia,” the Indian Ministry of Commerce and Industry said in a statement on Friday. “Both countries are also exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles, mining, etc. The Committee Meeting reviewed these developments and reaffirmed their commitment to advancing cooperation across various areas of shared interest.” The SPC was established in 2019. Its first meeting took place in New Delhi last year, during Crown Prince Mohammed bin Salman’s state visit to India.
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Saudi Arabia condemns latest violence in Sudan, urges conflict parties to respect laws
War has raged in Sudan since April 2023 between the army under the country’s de facto ruler Abdel Fattah al-Burhan and the RSF, led by his former deputy Mohamed Hamdan Dagalo. At least 124 people have been killed and dozens wounded in the fighting in al-Jazira state over the past 10 days, according to the United Nations. Saudi Arabia also called on the warring parties to respect the Treaty of Jeddah and urged them to agree on a ceasefire and facilitate the delivery of human aid to those affected in the war-torn country.
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Saudi Arabia ranks 12th globally in international visitor spending in 2023
Saudi Arabia advanced 15 spots to the 12th rank globally in international visitor spending in 2023, according to the United Nations World Tourism Organization (UNWTO). This achievement marks the highest rise among the top 50 countries compared to 2019. The Kingdom led the G20 nations in international visitor growth, recording a 73% increase, alongside a remarkable 207% rise in international tourism revenue from January to July 2024, compared to the same period in 2019.
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WTA Finals in Saudi Arabia can help ‘open doors’, says Gauff
"I would be lying to you if I said I had no reservations. You guys know who I am and the things I speak about. I was pretty much on every player call I could make with WTA," Gauff said. "One of the things I said: 'If we come here, we can't just come here and play our tournament and leave. We have to have a real program, a real plan in place.' "We spoke with a lot of women here in Saudi, and one of them was Princess Reema Bandar Al-Saud [the first female Saudi ambassador to the U.S.]. ... One of the questions that I brought up was about LGBTQ issues and women's rights issues and how we can help with that." The world No. 3 said she wanted to see for herself if progress had been made, adding: "If I felt uncomfortable or it felt like nothing's happening, then maybe, I probably wouldn't come back."
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