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PIF Sets Up New Real Estate Subsidiary to Help Meet Increasing Local Demand for Housing
Saudi Arabia’s Public Investment Fund (PIF) said it had set up a new real estate subsidiary, called “Roshn,” to help meet increasing local demand for housing, according to reports.
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Saudi Mega-city NEOM Signs Agreement with US-based Bechtel for Executive Project Management Work
Saudi Arabia’s futuristic mega-city NEOM has awarded a contract to U.S.-based Bechtel for executive project management work on the development of the primary, base infrastructure for NEOM, according to a press release issued by NEOM.
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Death Toll Climbs from Beirut Explosion as Saudi, UAE Express Condolences, Solidarity with Lebanese People
The death toll from the massive explosion that rocked Beirut, Lebanon yesterday continues to climb as Saudi Arabia and the UAE pledge solidarity and support to the Lebanese people.
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New Mahd Sports Academy in Riyadh will Focus on Discovering and Developing the Kingdom’s Next Sports Talents
Saudi Arabian sports officials on Monday unveiled in Riyadh a new project to discover and nurture young sports talent in the Kingdom, according to reports.
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Saudi Arabia’s Stock Market to Launch ‘Saudi Futures 30’ on August 30th
Saudi Arbaia’s Stock Exchange (Tadawul) announced that it will launch an exchange-traded derivatives product, the Saudi Futures 30 (SF30), on August 30th in a bid to attract investment interest into the Kingdom, according to reports.
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Before the Pandemic, Saudi Arabia’s Tourism Sector Showed Encouraging Rates of Growth
Before the global pandemic and resulting economic slowdown, Saudi Arabia registered significant growth in one of its key industries of focus in 2019 as the Kingdom looks to diversify its economy away from oil, an encouraging sign of progress that could be resumed when Coronavirus fears wane. Inbound tourism in Saudi Arabia was up a […]
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Saudi Arabia’s Central Bank Governor Sees ‘Light at the End of the Tunnel’ for Saudi Economy
Saudi Arabia’s central bank governor said it’s “too early” to tell if the Kingdom’s economy will bounce back with a V-shaped recovery as the government loosens coronavirus-related restrictions, according to a Bloomberg report.
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Saudi Arabia Announces ‘Limited’ 2020 Hajj to Prevent Coronavirus Spread
Saudi Arabia’s leaders said Monday the Kingdom will still allow for a “limited” Hajj which is open only to a small number of pilgrims who are already based in Saudi Arabia as they seek to stop the spread of the novel Coronavirus, according to reports.
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Saudi Industrial Development Fund Launches Near $1 billion Stimulus Package for Saudi Private Sector for Coronavirus Aid
The Saudi Industrial Development Fund (SIDF) said on Tuesday it launched initiatives totaling 3.7 billion riyals ($986.40 million) to support private sector industrial enterprises impacted by the coronavirus pandemic, Reuters reports.
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Saudi Embassy Issues Statement on Investigation Findings of the December 6th Pensacola Naval Air Station Attack
The Saudi embassy in Washington, D.C. issued a statement following yesterday’s release of findings by the Justice Department and the FBI, in which Attorney General William P. Barr and FBI Director Christopher Wray announced “significant developments” in the FBI’s investigation of the December 6, 2019 shooting at Naval Air Station Pensacola that killed three U.S. sailors and […]
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Odds rising that Saudi Arabia may ‘open floodgates’ on oil production – report
"Although the focus in the oil market has shifted to geopolitical risks and potential short-term supply disruptions, just as importantly, we think the possibility that Saudi Arabia could open the floodgates has increased in recent weeks alongside reports of deteriorating cohesion among OPEC+ members," Capital Economics climate and commodities economist Kieran Tompkins wrote, adding the OPEC+ meeting scheduled for December 1 "could be a potential flashpoint."
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Weekly Briefing: Iran’s growing burden of confronting Israel
Iranian media headlines from last week vividly demonstrated the hard choices before Tehran as Iran confronts the specter of possible war with Israel and its allies. The contrasting realities exemplify the pressures Iran’s leadership is under in terms of choosing the immediate and narrow national security interests, namely focusing on saving the economy and avoiding war, versus insisting on core Khomeinist convictions of confronting Israel and the United States.
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Lina Khatib: War Spreads to Lebanon
This has been one of the biggest blows to Hezbollah morally. He's been in charge for 30 years, but the cultivation of the image has really taken off since 2006, so we're talking about almost two decades of this person being presented as almost superhuman. His image had been tightly linked to that of Hezbollah itself, so that, in the eyes of many supporters of Hezbollah, Nasrallah represented strength, resilience, victory, and all those qualities that Hezbollah wanted associated with itself. At the morale level, having this figure eliminated is a huge blow.
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Iran Might Reevaluate its Strategy
The relative failure of Iranian missile strikes has significantly eroded the value of Tehran’s enormous investment in its missile and drone technology and raised serious questions among Iran’s regional allies about the ability of Tehran to come to their defense.
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Day One Problems: Yemen
On January 20, 2025, either Vice President Kamala Harris or former President Donald J. Trump will be sworn in as the next president of the United States. Whoever takes the oath of office that day will face a host of national security challenges, from the war in Ukraine and China’s growing belligerency to the Israel-Hamas conflict, Iran, and a metastasizing terrorist threat. Somewhere on that list will also be the Houthis, the Iranian-backed militia that controls northern Yemen and, for much of the past year, has been attacking commercial shipping in and around the Red Sea.
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US warns Israel to stop blocking aid to Gaza
After Israel sharply cut aid to Gaza in September and brought it to a total halt the first two weeks of October, the United States has formally warned Israel that it has 30 days to rapidly surge the amount of humanitarian aid allowed into Gaza, or risk being deemed in violation of US laws making it eligible to receive US military assistance.
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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.
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Saudi Arabia 2034 World Cup Stadiums
Saudi Arabia is gearing up to host the 2034 FIFA World Cup with an impressive lineup of 15 stadiums spread across five host cities: Riyadh, Jeddah, Al Khobar, Abha, and NEOM. Each venue is designed to reflect local culture and architecture while incorporating modern amenities to ensure a fantastic experience for fans and players.
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Saudi Arabia’s Fitness Movement: GymNation to Accelerate Expansion Following Opening of 20th Location
The Saudi Arabia fitness scene is booming and it’s a market that we’ve had an ambition to enter for a number of years. The government has a huge focus on improving fitness penetration levels across the population and are actively encouraging the citizens of Saudi Arabia to engage in health, fitness, and wellness. We want to play our part by helping to break down the affordability barrier and make fitness more accessible and welcoming for everyone across the Kingdom.
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Middle East supply disruption potential could send oil above $100/bbl, Citi says
Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to growing Middle East conflict. The bank upgraded its bull case for the fourth quarter of 2024 and first quarter of 2025 to $120 per barrel (bbl) from $80/bbl. However, "we maintain our baseline forecast for $74/bbl Brent in 4Q'24 and $65/bbl during 1Q'25, owing to weak underlying oil market fundamentals," Citi added.
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