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Riyadh Air Makes Waves at Aviation Festival of Asia 2024
New Saudi airline Riyadh Air is touting its new offering at an industry event in Asia, with the CEO and COO giving public appearances and with it a glimpse into the plans and aspirations of the startup airline.
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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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Saudi Arabia Enters Recession Now, Report from Capital Economics Says, but Non-Oil Economy Continues to Shine
Saudi Arabia has entered a recession, a report from Capital Economics said, as oil production cuts designed to prop up prices hurt the Kingdom’s bottom line – but the Kingdom’s non-oil economy continued to grow at a robust pace.
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Saudi Arabia’s Receipts from Oil Sales Abroad Down in May, Lowest in Over a Year – Report
Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg, which cited the Kingdom’s General Authority for Statistics (GASTAT).
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Saudi Arabia Defends Oil Cuts with Russia, Vows to do ‘Whatever Necessary’ to Support Oil Markets
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman defended Riyadh and Moscow’s recent oil cut decisions on Wednesday, which caused only a small, short-term increase in the price of Brent crude as the market shrugged at the move.
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Discussing Saudi Arabia’s sporting ambitions and investments with expert Simon Chadwick, a NEOM update, and much more
Episode 92! Saudi Arabia’s sporting ambitions and investments have been dominating global coverage of the Kingdom in recent months. The 966 speaks with Simon Chadwick, Professor of Sport and Geopolitical Economy, SKEMMA Business School, Paris, about all of the interest and investments by Saudi Arabia and Gulf nations into global sports. Professor Chadwick has consulted […]
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Saudi Arabia Allocates $7.8 Billion Worth of Investments for Expo 2030 – SPA
Saudi Arabia has allocated $7.8 billion worth of investments for Expo 2030, state news agency SPA reported early on Wednesday, as the Kingdom pitches for the opportunity to host the global event.
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The Saudi PIF Invests in Saudi football, Messi to Miami, and Saudi entrepreneurs Sara Bin Laden and Renad Aljefri join The 966
Saudi entrepreneurs Sara Bin Laden and Renad Aljefri, recent WIN fellows, join The 966 from Jeddah to discuss their experiences and journeys to-date. Renad and Sara recently took part in the second cohort of the Atlantic Council’s Women Innovators Fellowship, known as the WIN fellowship – a program launched by the empowerME initiative of the […]
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LIV Golf, PGA Tour to Merge in Surprise Development; Yasir Al-Rumayyan to Chair New Entity
In a surprise move, the PGA Tour and its well-funded rival, LIV Golf, have agreed to merge, ending a dispute between the two tours.
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Saudi Arabia In Talks to Join BRICs Bank – Report
Saudi Arabia is in talks to join the New Development Bank, the lender created by the BRICS group of nations, according to a report in Bloomberg, citing a report in the Financial Times.
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MUST-READS
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Saudi Company for Artificial Intelligence partners with Elm for Al in public sector
Established in 2021, SCAI is a PIF-owned company that was founded with the aim to positioning KSA as a global AI leader. The company builds AI applications, including in areas such as smart cities, healthcare, public transport, and sustainability. Together with Elm, one of Saudi Arabia’s leading IT consulting and technology companies, SCAI will develop AI use cases in the public sector, and develop prototypes and applications using Al technologies. Elm’s consulting business meanwhile will provide strategic advisory services to SCAI and to the Al offices of public sector institutions that are part of SCAI’s network.
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Saudi businessmen sign 27 memorandums of understanding with Pakistan valued at $2 billion
In a televised speech, Sharif hailed the memorandums and said he hoped they would soon be translated into agreements, adding that his government will do its best to facilitate Saudi investments in the country. Sharif also thanked Saudi Arabia for helping Pakistan reach an agreement to receive a $7 billion bailout from the International Monetary Fund.
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Saudi, UAE, Qatar Lobbying DC to Keep Gulf Oil Safe from Israel
Speaking to Reuters three unnamed Gulf sources said Saudi Arabia, UAE and Qatar are concerned that Israel will target Iranian oil facilities and that other Gulf assets could also come under fire by Iran or its proxies. All three Gulf countries are refusing to let Israel use their airspace, with Reuters reporting that Tehran warned Riyadh earlier this week that it could not guarantee the safety of the Kingdom's oil facilities in the event of an Israeli attack. "The Iranians have stated: 'If the Gulf states open up their airspace to Israel, that would be an act of war,” Reuters quoted a Saui analyst close to the royal court as saying.
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Saudi Arabia launches insurance policy to protect expatriate workers
Director general of international communications and cooperation, Abdulrahman Al-Zaid, told Arab News: “The Expatriate Worker Wage Insurance Service for Private Sector Defaults is part of the ministry’s ongoing efforts to protect both workers and employers, while enhancing the overall efficiency and appeal of the Saudi labor market. “The initiative is designed to create a more secure labor environment, making Saudi Arabia a leading hub for international talent.”
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Saudi Arabia, GCC embrace biological age testing in push for healthier aging
From stem cell research to modifying age-limiting conditions such as Alzheimer’s or Parkinson’s disease, to unlocking the regenerative capacity to reverse age-related changes in the body, targeting human aging with new therapies and medicines is a big business. And the latest trend is biological testing; figuring out how old your body actually is, versus the age on your passport. Or, in other words, your biological age versus your chronological age.
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Battling Japan down Saudi Arabia to stay perfect in World Cup qualifying
Japan handed Saudi Arabia a 2-0 defeat in Jeddah on Thursday as Hajime Moriyasu's side continued their march towards the World Cup with a third consecutive win in Asian qualifying that moves the Samurai Blue five points clear at the top of Group C. Daichi Kamada's close range finish put the Japanese in front in the 14th minute of a physical first half and substitute Koki Ogawa headed in Junya Ito's corner nine minutes from time to secure the points.
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Saudi Arabia’s flyadeal eyes widebodies; A321neo due in 1Q26
flyadeal (F3, Jeddah International) is planning to place a widebody order - its first - before the year ends, chief executive Steven Greenway said at the Routes World 2024 conference in Bahrain. The Saudia (SV, Jeddah International) low-cost subsidiary sees opportunity with widebodies, “and we’re going after it,” Greenway said, adding that they are evaluating both the A330 and B787 but have discarded the A350, as it would be “too big.”
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Will the UAE steer Assad away from Iran-led war with Israel?
Over the past several years, the United Arab Emirates (UAE) has played a critical role in bringing Syria back into the Arab diplomatic fold. Since Abu Dhabi reopened its embassy in Damascus in 2018, high-ranking Emirati and Syrian officials have consistently engaged in manners that serve to shore up the standing of Bashar Al-Assad’s government in the Arab world. The Syrian president’s Mar. 2022 visit to the UAE was a watershed in terms of his gradual rehabilitation as a “legitimate” head of state in the eyes of Sunni Arab statesmen.
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Israel steps up its battles with the United Nations
On Thursday, Israeli forces fired on three positions in Lebanon staffed by the U.N. Interim Force in Lebanon, or UNIFIL. At least two peacekeepers were injured and had to receive treatment, according to a UNIFIL statement, after an Israeli tank fired toward an observation tower at their main headquarters in the southwest city of Naqoura. The group — a legacy of international efforts to maintain the peace after Israeli invasions of Lebanon — has a force of some 10,000 peacekeepers of varying nationalities in bases scattered across the Israel-Lebanon border.
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Stop Israel from bombing Iran’s oil sites, Gulf states urge US
Gulf states are lobbying Washington to stop Israel from attacking Iran's oil sites because they are concerned their own oil facilities could come under fire from Tehran's proxies if the conflict escalates, three Gulf sources told Reuters. As part of their attempts to avoid being caught in the crossfire, Gulf states including Saudi Arabia, the United Arab Emirates and Qatar are also refusing to let Israel fly over their airspace for any attack on Iran and have conveyed this to Washington, the three sources close to government circles said.
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