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Saudi Arabia’s Ministry of Investment, U.S. Chamber Host Giga Projects Webinar
Saudi Arabia’s Ministry of Investment (MISA) and the U.S. Chamber of Commerce hosted an online webinar on Wednesday to explore and discuss the range of giga-projects available for investment in the Kingdom.
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U.S., Saudi-Chaired Body Created to Fight Terrorism Financing Sanctions Six
Members of the Terrorist Financing Targeting Center (TFTC), a 2017-created body co-chaired by the U.S. and Saudi Arabia to fight terrorist financing, jointly designated six targets affiliated with the Islamic State of Iraq and Syria (ISIS), according to the U.S. Treasury Department.
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Saudi Company Behind Red Sea Tourism Development Awards Airport Contracts
Saudi Arabia’s Red Sea Development Company, whose mission is to develop and create a massive new tourism project on Saudi Arabia’s Red Sea coast, said it had awarded infrastructure contracts for an international airport that is due to open in 2022, Reuters reports.
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Despite Downturn, Kingdom Presses Ahead with Ambitious Goals for Saudi Capital Riyadh
Saudi Arabia is seeking to “double the size and population” of its capital Riyadh in the next decade, Reuters reports, citing comments from Fahd Al-Rasheed, president of Riyadh’s royal commission. Al-Rasheed said the government has “already committed some $266.6 billion for ongoing and new projects as part of total investments of some $800 billion over the […]
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Life in Saudi Arabia: After Weeks of Lockdown, Savvy Saudi Shoppers Hunt for Bargains Ahead of VAT Deadline
After weeks in lockdown with access to stores and malls restricted, Saudi shoppers found themselves under a time crunch to hunt for deals ahead of a planned increase in the Kingdom’s Value Added Tax (VAT) on July 1.
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Report: Kingdom Owns a Majority Stake in Tesla Rival Lucid Motors
Saudi Arabia has amassed a more than 50% stake in California EV startup and Tesla rival Lucid Motors, according to a report in The Verge.
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Aerial View of Jeddah Port Stars in NASA Earth Observatory’s Image of the Day
The NASA Earth Observatory made its image of the day a stunning aerial photo of Jeddah, Saudi Arabia’s port from directly above.
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New York-based Wahed Invest, an Online Halal Investment Platform, Secures Funding from Saudi Aramco
New York-based online Islamic investment platform Wahed Invest has secured backing from Saudi Aramco, the world’s biggest company, to expand into the Middle East and make Riyadh its hub for the region, according to Bloomberg.
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Analysis: With Saudi Arabia’s PIF Investment in Two Canadian Energy Companies, Strategic Investment Shift Continues
Saudi Arabia’s Public Investment Fund (PIF) invested in two Canadian energy companies in the first quarter of 2020, expanding its holdings in the sector likely at lower-than-usual valuations as oil prices hit cyclical lows this year.
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WTI, Brent set for biggest monthly gains in years
Despite a fall today, crude oil prices are set for their biggest monthly gain in years after historic production cuts and a rebound in demand. The U.S. crude benchmark (WTI) has jumped almost 80 per cent in May, Bloomberg reports, the biggest gain in exchange data compiled by Bloomberg going back to 1983. That comes after […]
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Blinken scraps Jordan stop on Gaza truce tour, heading to Saudi Arabia instead
US Secretary of State Antony Blinken will travel to Saudi Arabia on Wednesday for talks on normalization with Israel as he pushes for a ceasefire in Gaza, a US official tells reporters. Blinken, who is on a regional tour expected to last throughout the week, will travel to Saudi capital Riyadh instead of previous plans to head to Jordan due to scheduling issues, the official says on condition of anonymity. The normalization deal is widely seen as dead in the water, as Riyadh is now conditioning it on the establishment of a Palestinian state — a nonstarter for Israel.
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Saudi Arabia enlists BlackRock to improve MBS market: Report
According to data available on Argaam, the Saudi Real Estate Refinance Co. (SRC) signed an agreement with BlackRock to develop the real estate finance sector, expand the local and international investor base, and ensure market stability and diverse financing options.
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Rafael Nadal gives brutally honest verdict on Saudi Arabia criticism and sportswashing claims
“What happens is that there comes a certain moment when you can be in one place or another, based on your opinion. I respect all opinions, as long as mine are also respected,” Nadal began. “Do they pay me to come here? Yes. But we must not lose perspective. You come here and what do you think? Are you doing good or bad? Because the only problem in the end is that you get paid for it. “Because, really, by coming here, you help the country. And those who speak in such a drastic way against the country, very well. “So, what do you want? For them to continue being bad, for them to continue keeping the country locked up, with more inequality? There is only one reality. “In the end, by coming here, we make events happen and tourists come, something that didn’t happen four or five years ago.
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Trees of the Gulf: Olive Trees and a Mediterranean Diet in the Desert
Aside from the sea itself, there is nothing that defines Mediterranean culture and heritage more than the olive tree. While entrepreneurs and immigrants from the Mediterranean to places with similar climates, such as California and parts of Australia, have planted olive groves and developed small industries, olive oil from outside the Mediterranean is a niche product, rarely held in high regard. But Saudi Arabia is challenging the Mediterranean’s 6,000-year hold on olive oil on a grand scale.
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Attackers kill 5, injure 22 at Turkish aviation site
Two attackers killed five people and wounded 22 others on Wednesday in what Ankara called a terrorist attack at the Turkish Aerospace Industries headquarters, where witnesses said they heard gunfire and an explosion. Interior Minister Ali Yerlikaya said both attackers were killed after the attack, adding two of the injured are in critical condition. TV broadcasters showed footage of armed assailants entering the TUSAS building near Ankara.
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Lebanon’s cash economy surge drives FATF grey-listing concerns
Lebanon is set to be placed on a financial crime watchdog’s grey list this week, with experts pointing to the country’s expanding cash economy and parallel financial system as key drivers behind the designation, according to senior economists and sources familiar with the matter. The designation comes as Lebanon grapples with a complex web of challenges, including a widespread shift away from traditional banking following the 2019 financial crisis, which has created new vulnerabilities in the financial system.
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BRICS Summit 2024: Key moments from day 1 of Kazan talks
The opening day featured traditional performances and cultural exchanges. Putin is scheduled for approximately 20 bilateral meetings, including talks with Palestinian leader Mahmoud Abbas regarding Gaza. In addition, a significant Modi-Xi meeting is planned for Wednesday, their first since recent border tensions. The summit will conclude with the Kazan Declaration on Thursday, focusing on economic cooperation, alternative payment systems, and global challenges.
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MBC Studios Head Zeinab Abu Alsamh on Training the Next Generation of Saudi Talent
Prior to joining Saudi Arabia’s MBC Group in 2021, Zeinab Abu Alsamh, one of The Hollywood Reporter‘s 2024 Most Powerful Women in International TV, served as chief commercial officer of the Saudi Broadcasting Authority, where she was responsible for the programming strategies of its entire broadcast portfolio. At MBC Studios, the in-house premium content production arm of MBC Group, she oversees the production and development of new projects, while also serving as CEO of MBC Academy, which discovers and nurtures emerging talent.
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Saudi Surgeon Honored for Performing the World’s First Fully Robotic Heart Transplant
The award also commemorates his successful completion of the world’s first robotic heart transplant on a 16-year-old patient suffering from end-stage (Class IV) heart failure. This achievement represents a turning point in heart transplant surgery practices, with a medical approach that relies on minimal surgical intervention, thereby reducing pain, shortening recovery times, and minimizing the risks of complications.
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Saudi FM arrives in Russia’s Kazan to attend BRICS summit
Saudi Foreign Minister Prince Faisal bin Farhan arrived in Russia’s Kazan to head the Kingdom’s delegation at the BRICS summit as “a country which is invited to join the group,” Al-Ekhbariya said on Wednesday. Prince Faisal is representing King Salman at the meeting of around 20 world leaders. In a joint statement issued on Wednesday, the BRICS group said it was “deeply concerned about ongoing conflicts and instability in the Middle East and North African region.”
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