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Saudi Arabia’s Media Powerhouse SRMG Makes Strategic Investment in Anghami, Spotify’s MENA Region Rival
- August 22,2023
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- SUSTG Team
SRMG Ventures, the venture capital arm of Riyadh-based conglomerate and the largest publishing company in the Middle East, the Saudi Research and Media Group, has announced a $5 million investment in Anghami, which is the Arab world’s rival to Spotify, according to Variety.
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Report: Biden Considers Another Bilateral Meeting with Crown Prince Mohammed bin Salman at G20 to Talk Saudi-Israel Mega Deal
- August 21,2023
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- SUSTG Team
President Biden is considering a bilateral meeting with Saudi Crown Prince Mohammed bin Salman on the sidelines of next month’s G20 summit in New Delhi, India, to discuss the recently-reported proposal for the Kingdom and Israel to move toward establishing relations, four sources with knowledge of the issue told Axios.
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Princess Mashael bint Saud Al Shalan joins The 966, Saudis rush to theaters to See ‘Barbie’, an update on The Line and more…
- August 18,2023
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- SUSTG Team
Episode 99! Princess Mashael bint Saud Al-Shalan, Founding Partner, Aeon Strategy, joins The 966 to discuss her work heading one of the leading consultancies in Saudi Arabia in the field of sustainability. Aeon Strategy played a key role in support of the Kingdom’s Net-Zero targets under the Saudi Green Initiative and the Circular Carbon Economy […]
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Saudi Crown Prince Mohammed bin Salman invited to visit UK – BBC Report
- August 17,2023
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- SUSTG Team
Crown Prince Mohammed bin Salman has been invited to visit the UK, the Saudi Arabian embassy has told the BBC.
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Kingdom’s Cinemas See Rush of Crowds to See ‘Barbie’, Now Showing in Saudi Arabia Despite Ban in Kuwait
- August 16,2023
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- SUSTG Team
Saudis are rushing to cinemas to see the global hit movie “Barbie” in theaters across the Kingdom, local media report.
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Inflation in Saudi Arabia Continues to Decline, Easing to 2.3 Percent in July
- August 15,2023
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- SUSTG Team
Saudi Arabia’s annual rate of inflation last month eased to 2.3 percent, down from 2.7 percent in June, according to official data. According to GASTAT, which produces and publishes the official data, housing, food and transport were among the drivers of a rise in consumer prices in July from a year earlier.
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PSG Agree to a €90m ($98m) Deal to Send Neymar to Saudi Side Al Hilal – Reports
- August 14,2023
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- SUSTG Team
31-year old Brazilian forward Neymar is headed for Saudi Arabia after the Saudi Pro League side Al Hilal agreed a two-year deal with Paris Saint-Germain (PSG), Saudi state media has reported.
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More on Saudi-Israel normalization reports, Lucid’s future, and Kuwait University’s Bader Al-Saif joins The 966
- August 11,2023
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- SUSTG Team
Episode 98! Dr. Bader Al-Saif, founding President at Al-Saif Consulting and Assistant Professor at Kuwait University joins The 966 to talk about Saudi Arabia as an emerging economic and diplomatic power in a changing region. Al-Saif is also a visiting researcher at Georgetown University, where he completed his PHD in history, and a non-resident fellow […]
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Riyadh Air Sponsors Spanish Football Club Atlético de Madrid in 3 Year Deal; Jerseys Unveiled
- August 10,2023
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- SUSTG Team
Saudi Arabia’s newly launched airline, Riyadh Air, will sponsor one of Spain’s leading football clubs, Atlético de Madrid, the company said today in a press release as it unveiled a new design for the kits players will wear on-field.
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Lucid Air Limited Assembly In Saudi Arabia To Start In September; Company Slashes ‘Air’ Model Price
- August 9,2023
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- SUSTG Team
Lucid Motors, an EV company in which the Saudi Arabian Public Investment Fund (PIF) has a majority ownership stake, announced its second-quarter financial results yesterday, and provided some updates on its plans during an earnings call lead by CEO Peter Rawlinson. Lucid on Monday reported revenue in the April-June period of $150.9 million, missing estimates […]
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Saudi Arabia attracts $14.9 billion investments in AI as LEAP25 kicks off in Riyadh
In his keynote speech, Alswaha emphasized that these significant investments and initiatives were made possible through the support and empowerment of Crown Prince and Prime Minister Mohammed bin Salman. These initiatives aimed to enable the technology sector and accelerate Saudi Arabia’s transition toward an innovative and sustainable AI-driven economy, in line with Vision 2030 objectives. Al-Swaha said that the region is witnessing rapid transformations in the digital economy sector, as it has grown by 73 percent to reach $260 billion, with Saudi Arabia accounting for 50 percent of this growth, making it one of the leading countries in this field. The number of technical specialists has increased from 150,000 to 381,000, reflecting Saudi Arabia’s rapid growth in the fields of technology and innovation. Al-Swaha highlighted the importance of bridging the digital gap between nations during what has become known as the “smart era,” and explained the role the Kingdom plays in empowering women in the field of technology. “In the smart era, the gap between the Global North and South will grow and worsen, as only one to two billion people are expected to join this exclusive club, while 6.5 billion people will be left behind by 2030.”
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UK student Salma al-Shehab released from Saudi prison, say campaigners
Salma al-Shehab, a Leeds University doctoral candidate who was handed a decades-long sentence for her tweets in 2022, has been released from a Saudi prison, human rights groups have reported. Her supporters and advocates were celebrating the news on Monday but also highlighted the ordeal she had been through and called on the Saudi government to ensure she could travel freely. The UK-based human rights group Alqst, which has documented Shehab's case and advocated for her freedom, said she had been held arbitrarily for four years "on the basis of her peaceful activism". "Her full freedom must now be granted, including the right to travel to complete her studies," the organisation said.
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US Chamber of Commerce official discusses US-Saudi collaboration on AI policy
In an exclusive interview with Arab News on the sidelines of the LEAP 2025 technology conference, Steve Lutes, vice president for Middle East affairs at the US Chamber of Commerce, stressed the importance of implementing clear policies that inspire investor confidence. “One thing that’s always at the core is to have the policy and regulatory environment that is going to give confidence and clarity to investors, risk-takers, and innovators,” Lutes said. He added that Saudi Arabia maintains an open-door policy in working with the US Chamber and industry leaders to shape its regulatory framework. “This will catalyze finance and fuel more investment, bring more innovation, and strengthen partnerships between the United States and Saudi Arabia in AI and across the broader economy,” he said.
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Saudi Arabia Gears Up to Host the Fourth Edition of the Saudi Media Forum 2025
The Kingdom of Saudi Arabia is gearing up to host the fourth edition of the Saudi Media Forum 2025, set to take place in the capital, Riyadh, from February 19 to 21. This prestigious event reaffirms its status as the largest media gathering in the region and a global platform that unites top decision-makers, industry experts, and innovators in the media sector.
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Commentary: Why Saudi Arabia insists on a Palestinian state
However, it is often overlooked that Saudi Arabia is not an emotional state and its policies are not based on reactive measures. Instead, the country operates according to a strategic vision that prioritizes its national security first and the broader Arab national security second. Consequently, Riyadh has not limited itself to narrow calculations but has instead considered the larger context of the Middle East. It recognizes the genuine threat posed by aggressive Israeli policies, understanding that the destruction of Gaza, assaults on the West Bank and the displacement of Palestinians will not lead to peace. Rather, these actions are likely to foster further extremism and violence, potentially creating a new generation that is willing to take up arms against Israel — not only within the Occupied Territories but also among sympathizers from various countries around the world, which could lead to wider conflicts.
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Chinese EV startup Rox Motor expands into Saudi Arabia
Chinese electric vehicle (EV) startup Rox Motor has expanded into the Saudi market as it focuses its resources overseas. The company announced its official entry into the Saudi market with its all-terrain SUV (sport utility vehicle) Rox 01 at the LEAP 2025 event, which kicked off on February 9, according to a press release today. Rox Motor has secured more than 200 orders in Saudi Arabia and sales are ongoing, it said. The brand's flagship Saudi showroom on Khurais Road will open later this month.
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Saudi Arabia appreciates condemnations of Netanyahu proposal for Palestinian state in Kingdom
Saudi Arabia has expressed its appreciation of the positions adopted by Arab and Islamic countries in condemning Israeli Prime Minister Benjamin Netanyahu’s proposal to ethnically cleanse the Palestinians and establish a state for them in the Kingdom. “The Kingdom values the positions that emphasise the centrality of the Palestinian issue to the Arab and Muslim countries,” said the Ministry of Foreign Affairs in Riyadh on Sunday. “This extremist, occupation mentality does not understand what the Palestinian land means to the people of Palestine and their emotional, historical and legal connection to it.” The ministry pointed out that such statements are rejected, and aim to divert attention from the Israeli occupation regime’s ongoing crimes against the Palestinians in Gaza, especially the ethnic cleansing.
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Saudi Industrial Production Index up 2.1% in December
Saudi Arabia’s Industrial Production Index (IPI) added 2.1% year-on-year (YoY) in December 2024, data issued by the General Authority for Statistics (GASTAT) showed. The IPI rose to 104.23 points in December, according to the base year 2021, compared to 102.13 points in December 2023. GASTAT attributed the growth to higher activity in manufacturing, water supply, sanitation, waste management and treatment sectors. The IPI measures the relative change in production quantities of materials and goods, tracking their transformation from raw materials to final consumable products for economic returns.
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Saudi Neom, DataVolt sign agreement for $5 billion AI project
Saudi Arabia's NEOM, a Red Sea urban and industrial development, has signed a deal with DataVolt to develop a 1.5 gigawatt (GW) net zero artificial intelligence project in its Oxagon industrial zone, the Saudi state news agency reported on Monday.The project, which will operate as an integrated data centre, would see investment worth $5 billion in the first phase, SPA reported, adding it is set to be operational in 2028. It comes as the kingdom races to become an artificial intelligence hub, amid regional competition from the UAE and Qatar, capitalising on booming demand for generative AI technology, which requires vast amounts of processing power. Last year, the governor of Saudi Arabia's Public Investment Fund (PIF) Yasir Al-Rumayyan pitched the kingdom as a prospective hub for artificial intelligence activity outside the United States, citing its energy resources and funding capacity.
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Anti-Patriarchy Saudi Drama ‘Hobal’ Beats Hollywood Titles, Becoming Standout Local Hit
Saudi filmmaker Abdulaziz Alshlahei’s drama “Hobal” about clashes between tradition and modernity within a Saudi family during the early 1990s is scoring mightily at the Saudi Arabian box office, outperfoming Hollywood titles such as “Mufasa: The Lion King,” “Flight Risk” and “Den of Thieves 2: Pantera.” The timely film in which a Saudi family is forced by its grandfather to live in isolation in the desert at the outbreak of the 1990 Gulf War, when a young girl falls ill, prompting her mother to fight the patriarchy to try and save her child, is striking a deep chord with Saudi audiences. “Hobal” has now pulled more than 500,000 admissions since its Jan. 2 release via distributor Qanwat Group, racking up a handsome roughly $5.7 million take to date, according to figures from the Saudi Film Commission which compiles Saudi box office numbers.
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