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  • Saudi university reaches new heights in 2024 global ranking

    King Fahd University of Petroleum and Minerals, which is located in the Eastern Province, has secured a historic achievement after ranking as the top university in the Middle East and North Africa for 2024, according to the Times Higher Education World University Rankings. This puts KFUPM ahead of all universities in Saudi Arabia and the wider Gulf region. KFUPM’s rapid rise is part of a broader strategic transformation that began in 2020, when it was ranked 507th globally. In the space of just four years it has climbed over 330 spots, now securing 176th place worldwide in the 2024 rankings.

  • Saudi Arabia eyes BPCL refinery investment in India

    Saudi Arabia is considering investment opportunities in Indian Government-backed Bharat Petroleum Corporation Limited’s (BPCL) new refinery project, reported Moneycontrol, citing sources. Following the unsuccessful attempt to establish a 60 million tonnes per annum (mtpa) refinery in Ratnagiri, Maharashtra, India's Oil Minister, Hardeep Singh Puri, suggested in May 2023 that the country should consider constructing smaller refineries to circumvent land acquisition challenges.

  • Saudi Arabia’s adoption of fintech makes it an ideal DeFi hub, experts say

    “The financial sector here is heavily reliant on traditional intermediaries, with limited access to financial services for many citizens. DeFi can change this by providing decentralized financial services accessible to everyone, regardless of their location or financial status,” he told Arab News. DeFi can facilitate affordable and accessible services such as lending, borrowing, and investing, and enhance cross-border transactions with instant speed and almost zero fees, he added.

  • Saudi fast food chain AlBaik set to make its debut in Pakistan

    The announcement comes as a Memorandum of Understanding (MoU) was signed between officials of the Al Baik Food System Company and Gas & Oil Pakistan Limited (GO). The signing ceremony was attended by high-ranking Saudi and Pakistani delegations under the patronage of Saudi Minister of Investment, Engineer Khalid Al-Falih, state-run APP reported on Friday, October 11.

  • Saudi to begin construction of Landbridge in early 2025: Report

    Saudi Arabia will start construction of the Landbridge project that costs $7 billion (SAR 26.3 billion) in early 2025, MEED reported citing a source close to the project. Saleh Al-Jasser, Minister of Transport, said in January 2023 that the project will be implemented by a Chinese-led consortium of 11 international firms, Argaam earlier reported.

  • How Saudi Arabia is partnering with Denmark in sustainable wastewater management

    Denmark’s approach to water sustainability relies on innovative technologies that reduce water wastage while conserving energy and resources. Danish engineering firms like Grundfos are making an impact in Saudi Arabia by introducing solar-powered pumping systems to supply water to remote and off-grid areas where access to electricity may be limited. According to Morten Riis, the company’s group senior director, their water solutions target not only groundwater and rivers but also focus on reducing water loss and optimizing energy consumption in the process.

  • Pentagon: US approves multi-billion-dollar weapons sales to Saudi Arabia, UAE

    The US has approved new weapons sales to the UAE and Saudi Arabia worth a combined $2.25 billion, the Pentagon announced on Friday. In separate statements, the Pentagon said that the State Department had approved the possible sale of 220 AIM-9X Block II Sidewinder Tactical Missiles and other related equipment worth an estimated $251.8 million.

  • Riyadh leads Saudi Arabia’s hot property market

    Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week by real estate consultancy CBRE. Authorities are trying to raise the national home ownership rate to 70 percent under Vision 2030. An estimate shared with AGBI by the Sico Bank research team last month found that Saudi Arabia has already hit a “fairly strong” 62 to 65 percent of citizens owning their home.

  • Saudi Arabia to set up $186m concrete factory to supply 170km-long city

    Plans have been announced to build a $186m concrete plant as part of the huge Neom development programme in Saudi Arabia’s northwestern Tabuk Province. Saudi building materials company Asas Al-Mohileb is to develop and operate the facility, which will be able to produce over 20,000 cubic metres of ready-mix a day. The multi-plant facility will incorporate carbon capture and utilisation technology.

  • U.S. approves weapons sales to Saudi Arabia, UAE valued up to $2.2B

    The U.S. State Department approved the sale of billions of dollars in weapons to Saudi Arabia and the United Arab Emirates, two important allies against Iran as tensions rise in the Middle East. The Biden administration told Congress that it approved the sale of dozens of Hellfire and Sidewinder missiles to Saudi Arabia. The more than $1 billion sale also includes artillery, tank and machine gun ammunition.