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‘Arab News’ Releases Impressive Graphical Feature on Saudi Arabia’s Heritage Sites
English-language daily news site Arab News has released a graphical feature item on its website detailing the five Saudi historic sites inscribed on UNESCO’s World Heritage List.
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OPEC+ Poised to Agree to Production Increase This Week as Oil Continues Climb
The OPEC+ group of oil producing nations is poised to agree to a production increase this week as it looks to add more supply as prices continue to recover from 2020 lows, according to reports. “There’s a widespread view within the group that the market can absorb additional barrels,” Bloomberg reports, citing people familiar with the […]
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Saudi Arabia to End Contracts with Foreign Companies Without a Regional HQ in the Kingdom After 2023
Saudi Arabia announced on Monday that it will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom, part of a push to give more of the Kingdom’s economic opportunities to countries that will hire local talent and compete with neighboring cities in other Gulf nations.
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Crown Prince Mohammed bin Salman Announces Significant New Reforms to Judicial System, Push Toward Codified Law
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Monday plans to approve a set of new draft laws designed to enhance the efficiency and integrity of the kingdom’s judicial system, a step that would eventually lead to an entirely codified law.
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Saudi Arabia on Thursday Welcomed President Biden’s Commitment to help the Kingdom Defend Its people and Territory
U.S. President Joe Biden promised to bring an end to the war in Yemen, pulling back further U.S. support for operations within that country while simultaneously promising to boost the U.S.-Saudi relationship and offer U.S. security for the Kingdom and its people.
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Latest Data: Improvements in Saudi Arabia’s Labor Market in Line with Pick-up in Overall Economic Activity
Unemployment in Saudi Arabia declined to 14.9 percent in Q3 2020, the latest date for which such data are available, down from 15.4 percent in Q2 2020, a recent report from the Riyadh-based Jadwa Investment finds, citing figures from the official General Authority for Statistics.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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$5 Billion Hydrogen Project JV Planned for NEOM Hires Financial Advisor – Report
A three-organization joint venture hydrogen project between Air Products, NEOM, and ACWA Power has hired financial firm Lazard to advise on a planned $5 billion hydrogen project in the NEOM high-tech business zone in Saudi Arabia, according to a Reuters report, citing sources.
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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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MUST-READS
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Saudi Fintech Tamara Raised Over $116M In Its First Year, But Can It Scale Up Against Stiff Competition?
Tamara’s ability to attract multi-million-dollar investment stems in part from a rapid rise in demand for its services. The startup, which today employs 137 people across four offices in Riyadh, Dubai, Berlin, and Ho Chi Minh City, allows online and in-store shoppers to buy goods and split payments into three installments. In just over a year, the company has attracted two million customers across Saudi, the U.A.E, and Kuwait, as well as 2,000 merchants, including local, regional, and global brands such as Adidas, Ikea, Yves Saint Laurent, Namshi, and online beauty store, Nice One.
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Investor interest in Saudi hotel sector is growing, so why are there so few rooms outside cities?
Thamer Alrajeeb, a former member of the Riyadh Chamber of Commerce and Industry’s Tourism Accommodation Committee, said investment in the tourism sector in major cities is encouraging, particularly in Riyadh in support of the Saudi Entertainment Authority initiatives. It is not profitable in other cities, however, where operations are seasonal during a period of a few months each year, usually coinciding with school holidays or good weather.
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Yemen: Who are the UAE-backed Giants Brigades?
Pro-government force, composed mainly of southern fighters, proves crucial in advances against Houthi movement in Shabwah
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Which countries are ditching cash at the fastest rate?
The Covid pandemic has forced consumers to embrace electronic payments in greater numbers, but some countries still prefer physical methods.
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Will oil prices spike to $100/b in 2022?: Podcast
We asked several oil market experts to weigh in on the same question: Will OPEC allow oil prices to reach $100/b in 2022?
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Opinion: Is another Gaza war inevitable?
Since Hamas seized control of the Gaza Strip in June 2007 there have been four significant military escalations: Operations Cast Lead (2008-09), Pillar of Defense (2012), Protective Edge (2014), and Guardian of the Walls (2021). Bitter experience would seem to indicate that another round is only a matter of time.
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The Takeaway: Iraq’s elections: What comes next?
The Iraq Supreme Court finally certified Iraq’s Oct. 21, 2021, election results on Dec. 27, and Iraqi President Barham Salih signed a decree on Dec. 30 to convene the 329 seat Council of Representatives, or parliament, on Jan. 9, 2022.
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What are the fastest growing cities in the world?
The fastest-growing cities in the world, according to the UN, are Delhi, Shanghai, Dhaka, Kinshasa, Chongqing, Lahore, Bangalore, Lagos, Cairo and Beijing. Investment Monitor profiles them all.
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Perspective: New realities in the Gulf – What’s in store for 2022?
Rather than deepening ideological divisions and polarisation in the Middle East, Gulf states spent 2021 prioritising trade, investment, and economic cooperation. Riyadh and Abu Dhabi’s improved ties with Ankara have also highlighted this trend. So has the warming of Saudi-Omani relations.
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