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FDI Inflows into Saudi Arabia Soar in 3Q 2022; MISA Says Investment Licenses Granted Up Over 50%
Saudi Arabia saw more positive economic news this week, as Foreign direct investment (FDI) inflows into the Kingdom rose 10.7% in the third quarter of 2022 over the same period a year earlier. Figures from the investment ministry showed FDI inflows totaled 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, up from 6.5 billion riyals […]
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Saudi Arabia’s PIF Remains 6th Largest SWF Globally, Latest Data Show
Saudi Arabia’s Public Investment Fund (PIF) now has assets worth $607.42 billion and is the 6th largest sovereign wealth fund in the world, according to latest data from the Sovereign Wealth Fund Institute.
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Real estate in Saudi Arabia, Riyadh’s $22.5 BILLION metro, and the Ronaldo-Messi-Mbappe game
In episode 72 of The 966, the Riyadh Metro project, the game-changing public transportation project in Saudi Arabia’s capital, “will be opened soon.” A discussion on the hot real estate market in Riyadh and across Saudi Arabia. Then, to kick off the program’s “Yallah!” segment, the hosts spend some time talking about the Dakar Rally, […]
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Saudi Arabia’s Ma’aden Forms JV with the Public Investment Fund (PIF) to Invest in Mining Assets Abroad
Saudi Arabia will establish a firm to invest in mining assets internationally, according to reports.
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Soccer Superstar Captain Cristiano Ronaldo Joins Saudi Club Al-Nassr
Portugal captain Cristiano Ronaldo has joined Saudi Arabian club Al Nassr on a 2-1/2 year contract, the club announced on Friday, after leaving Manchester United disgruntled with ownership and manager Erik ten Hag to become a free agent ahead of the World Cup.
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Green Riyadh Project Launches as Authorities Eye Ambitious ‘Giga’ Tree-Planting Initiatives
Authorities in Saudi Arabia’s capital Riyadh launched the Green Riyadh project, one of four giga-projects for the city and region: an ambitious tree-planting strategy to “greenify” many parts of the Kingdom’s largest city, according to a report from the Saudi Gazette.
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Bill Foster from the Jones Group Saudi Arabia and Chairman of AmChamKSA joins The 966
Captain Bill Foster, USN (retired) is President of Jones Group Middle East, a wholly owned subsidiary of Jones Group International, and is Chairman of the The American Chamber of Commerce Saudi Arabia (AmCham Saudi Arabia). Foster joins The 966 from Riyadh, where he talks about the changes ongoing in the Kingdom and the important work […]
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Saudi Arabia’s Sindalah Island, Neom’s ‘Yachting Hub’, to Open in 2024 with Golf Course, 40 Restaurants
Saudi Arabia’s Sindalah Island, off the coast of NEOM in Saudi Arabia, will open by 2024 and will include a beach club, yacht club and almost 40 restaurants, new details released about the project yesterday confirm.
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HRH Prince Turki Al-Faisal Al-Saud talks about his father King Faisal’s legacy, the King Faisal Foundation’s decades of work, and U.S.-Saudi relations
An interview and conversation with the legendary HRH Prince Turki Al-Faisal Al-Saud, who joins The 966 to share some stories and his anecdotes about his late father, King Faisal bin Abdulaziz Al-Saud. King Faisal’s death lead his sons to create the King Faisal Foundation to honor his visionary legacy and generous spirit. HRH Prince Turki […]
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Saudi Arabia Stuns World With Upset Win Over Argentina in Qatar World Cup Opener; King Salman Declares Wednesday a Holiday
In what some analysts are already classifying as one of the greatest upsets in the history of the World Cup, Saudi Arabia stunned tournament favorite Argentina, 2-1, in its opening match at Lusail Stadium in Doha.
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Saudi Arabia executes 213 people in less than 10 months, setting new record
Saudi Arabia has executed 213 people so far in 2024, more than it has in any other calendar year on record, as the kingdom competes for a seat at the UN Human Rights Council (HRC). According to the London-based rights group Reprieve, which documents the death penalty worldwide, the largest recorded figure prior to this year was 196 in 2022, followed by 184 in 2019.
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Saudi king Salman recovers after undergoing medical tests, royal court says
Saudi Arabia's King Salman has recovered after successfully completing medical tests for lung inflammation on Wednesday, the state news agency (SPA) said, citing the royal court. The royal court said on Sunday the 88-year-old monarch would undergo medical tests for a lung inflammation. The king of the world's biggest oil exporter and a major U.S. ally in the Middle East had received medical care for lung inflammation in May as well.
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Abu Dhabi’s ports are driving the UAE’s post-oil transformation: Video
The expansion of ports in the UAE’s capital aims to boost logistics and tourism across the country.
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The UAE’s technology ambitions
In 2017, the United Arab Emirates (UAE) released a national strategy for artificial intelligence (AI) that declared its goal of becoming ‘the world leader in AI by 2031’. Since then, the government has invested billions of dollars and transformed the country into a centre for technological innovation and foreign investment, the latter notably coming from China and the United States.
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Archaeologists discuss latest findings from Al-Faw, Saudi Arabia’s newest World Heritage Site
The event, organized by the Saudi Heritage Commission, follows the addition in July of Al-Faw to UNESCO’s list of World Heritage Sites. It is the eighth location in the Kingdom to achieve this recognition. Ajab Al-Otaibi, director of the commission’s Archaeological Documentation and Research department talked about the ways in which recent discoveries have changed our understanding of ancient civilizations in the region. “The most recent excavations have revealed a complex network of trade routes and cultural exchanges that connected Al-Faw with other kingdoms in the Arabian Peninsula and beyond,” he said.
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Saudi embassy in US issues advisory to citizens on Hurricane Milton
The Kingdom’s embassy in the US issued an emergency advisory to Saudis in Florida and neighboring states as Hurricane Milton restrengthened to a Category 5 as it barreled toward the state on Tuesday. The embassy asked Saudis to follow guidelines by state authorities in Florida, Georgia and the Carolinas.
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Saudi Arabia’s Heritage Commission vows to protect archeological sites against violators
Saudi Arabia’s Heritage Commission stressed that it will stand firmly against people who tamper with archeological sites, taking legal measures against them and preventing any transgressions that pose a threat to the safety of the Kingdom’s heritage. In the past week, the commission observed several violations of the antiquities and urban heritage regulations in Al-Wajh governorate in the Tabuk region and referred 23 expatriates to the relevant authorities.
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Saudi Red Sea Authority set to attract 19 million tourists to Red Sea coast by 2030
The Saudi Red Sea Authority (SRSA) aims to develop a thriving coastal tourism sector in the Red Sea, contributing approximately SR85 billion to the GDP by 2030. This would capture 30 percent of the Kingdom’s leisure tourism and 40 percent of total entertainment spending, attracting 19 million tourists, and generating more than 210,000 jobs.
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Iran’s FM to visit Saudi Arabia amid hardliner backlash over Arab response to Gaza
Last Friday, for the first time in five years, reinforcing a message he has focused on recently: the unity of Muslim countries against the presence of the US and other Western powers in the region. Khamenei called for solidarity, stating, “We have to tighten the belt of defense... from Afghanistan to Yemen, Iran to Gaza and Lebanon, in all Islamic countries. That’s the first issue I wanted to discuss.”
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Saudi Arabia tops Arab cement producers, ranks 10th globally: Alkhorayef
Saudi Arabia ranks first in the Arab world and tenth globally in cement production, with an annual output capacity exceeding 80 million tons from 20 domestic factories, according to Minister of Industry and Mineral Resources Bandar Alkhorayef, as reported by the Saudi Press Agency (SPA).
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