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  • Saudi crown prince to attend first EU–Gulf Cooperation Summit in Brussels

    Saudi Crown Prince Mohammad bin Salman and other Gulf leaders will be in Brussels for the first EU–Gulf Cooperation Summit, focusing on trade, security, and Middle East peace. Saudi Crown Prince Mohammad bin Salman will be in Brussels on Wednesday for the first EU–Gulf Cooperation Summit, Euronews can reveal. The de facto Saudi leader is discussing a range of issues, including global security, the Middle East, trade and global warming. It's his second official visit to Brussels, having previously attended in 2015 for the Global Coalition against ISIS. On the Middle East, the EU hopes the summit can strengthen support for the Palestinian Authority as a step towards resuscitating a two-state solution.

  • Global EV sales up 30.5% in September as China shines, Europe recuperates

    Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August and Europe resumed growth, market research firm Rho Motion said on Tuesday. Gains in the U.S. market have been slow and steady in anticipation of the Nov. 5 election, which makes it difficult to predict future trends in the country, data manager Charles Lester told Reuters.

  • Saudi Arabia Railways Joins EULYNX Signalling Consortium

    Saudi Arabia Railways (SAR) has officially joined the EULYNX Consortium, making it the first organisation outside of Europe to become part of the group. The EULYNX Consortium is an international collaboration of leading European railway infrastructure managers dedicated to the standardisation and modernisation of railway signalling systems.

  • Gulf states sought to reassure Iran of their neutrality in Iran-Israel conflict, sources say

    Gulf Arab states sought to reassure Iran of their neutrality in the conflict between Tehran and Israel in meetings in Doha this week on the back of concerns that a wider escalation in violence could threaten their oil facilities, two sources told Reuters. Ministers from Gulf Arab states and Iran attending a meeting of Asian nations hosted by Qatar centred their conversations around de-escalation, the sources said.

  • Saudi giga-project Diriyah agrees deals worth $1 bln with European firms

    Diriyah, one of Saudi Arabia's so-called giga-projects, has agreed deals worth nearly $1 billion with European firms and is in talks to attract more foreign capital, its CEO said. The $63 billion project is one of the Public Investment Fund's giant construction efforts aimed at boosting economic growth and diversifying the oil-reliant kingdom's economy. Diriyah, located at a UNESCO World Heritage site outside the capital Riyadh, has been backed by PIF investments worth a total of around 20 billion riyals ($5.33 billion) in 2023 and 2024, and should get 12 billion riyals more next year, its CEO said.

  • Europeans, Arab and Muslim nations launch a new initiative for an independent Palestinian state

    To accelerate work on these issues, Eide said almost 90 countries attended a meeting Thursday on the sidelines of the U.N. General Assembly’s current gathering of world leaders. He and Saudi Arabia’s foreign minister co-chaired the session to launch “The Global Alliance for the Implementation of a Palestinian State and a Two-State Solution.”

  • Climate change doubles chance of floods like those in Central Europe, report says

    Climate change has made downpours like the one that caused devastating floods in central Europe this month twice as likely to occur, a report said on Wednesday, as its scientific authors urged policymakers to act to stop global warming. The worst flooding to hit central Europe in at least two decades has left 24 people dead, with towns strewn with mud and debris, buildings damaged, bridges collapsed and authorities left with a bill for repairs that runs into billions of dollars.

  • Adam Neumann’s Flow Pushes Into Saudi Arabia in First Global Move

    Miami-based Flow is partnering with local investors to develop and own three apartment buildings in Riyadh, which will total roughly 920 units once completed, according to people familiar with the matter who asked not to be named citing private information. “Saudi Arabia presents a tremendous opportunity to invest in a place with dynamism and growth,” a Flow spokesperson said. “We are proud to bring our product to the region and help address a growing market need.”

  • Saudi Arabia’s SURJ Sports Investment ‘enters race’ for EuroLeague investment

    The outlet reports that shareholders in EuroLeague Commercial Assets, the parent company of the EuroLeague and second-tier EuroCup competition, are aiming to sell about a third of the business. It is said to be aiming to sell a minority stake at a €1 billion (US$1.11 billion) valuation. According to the FT, the group is working with investment bank LionTree on the sale process.

  • EU mission starts Red Sea oil tanker salvage

    An operation trying to salvage a stricken oil tanker, burning in the Red Sea for almost a month now after attacks by Yemen's Houthi rebels, has begun, according to a European Union naval mission on Saturday. The EU's Operation Aspides released images showing its vessels escorting three ships making their way toward the Greek-flagged oil tanker Sounion. The operation aims to prevent an environmental disaster in the region.