QUOTED

Quoted

“As the largest automotive market in the Middle East and North Africa (MENA) region, Saudi Arabia accounts for almost half of the region’s car sales, with over 600,000 new vehicles registered annually. The market is diverse, with Asian manufacturers such as Toyota and Hyundai leading the passenger car market, while brands like Mercedes-Benz and Audi dominate the luxury segment. Pickup trucks and SUVs remain highly popular, driven by social preferences and the country’s vast road network.” Salma Saleh, Automotive industry in Saudi Arabia- statistics & facts [Statista]

TOP STORY

Riyadh AI Declaration announced

AI, Riyadh Declaration

At the open of the Internet Governance Forum (IGF) 2024, hosted by the United Nations in Riyadh, Saudi Arabia announced the Riyadh Declaration emphasizing inclusive, innovative, and impactful artificial intelligence.  [more]

 

MORE TOP STORYLINES

Taking Saudi Arabia’s World Cup 2034 from ambition to reality

Via Alexey Milovanov in agbi.com: The World Cup is always more than just a series of matches. It’s a global event that transforms nations, driving development in infrastructure, the economy and tourism. For Saudi Arabia it’s also an opportunity to establish itself as a modern, ambitious and open nation. The country has announced plans to build 15 stadiums. And if you think these are just sports venues, think again. Each stadium is envisioned as a future architectural marvel designed to impress the world. But behind this grandeur lies a harsh reality: the kingdom’s limited domestic resources mean it will need to rely heavily on imported materials, technology and expertise – a significant challenge for a country determined to showcase its self-sufficiency.

Saudi Arabia ranks third in global AI policy review, behind US, UK

in arabnews.com: Saudi Arabia has been ranked third globally in the Organization for Economic Co-operation and Development’s AI Policy Observatory, behind the US and the UK.Al-Ghamdi added that the Kingdom’s AI Ethics Early Adopters initiative and the International Center for AI Research and Ethics were vital in enhancing trust in AI products and establishing ethical standards for AI practices and services. He said that ICAIRE, which is based in Riyadh and sponsored by UNESCO, had been selected as a regional and global partner for advancing the AI ethics agenda. Al-Ghamdi added that UNESCO had praised Saudi Arabia’s advances in the AI sector as part of a recent report evaluating countries’ readiness to adopt AI in accordance with ethical values and international standards.

Riyadh meeting highlights role of Saudi missions abroad in achieving strategic goals

in saudigazette.com: The 5th general meeting of the heads of the Saudi missions abroad discussed on Sunday the priorities of Saudi foreign policy and the role of the missions in achieving the Kingdom’s strategic goals.The agenda of the meeting included interactive dialogues and presentations with the aim of discussing and examining the ministry’s strategies and initiatives and exchanging visions on their implementation. This is in addition to activating coordination between the Saudi missions abroad and government agencies, and exchanging views on issues related to their tasks on the external scene in a way that serves the interests of the country and the citizens.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia completes arrangement to secure $2.5 bln credit facility

Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the...[By Enas Alashray and Ahmed Tolba via reuters.com]

 

Dakar Rally competitors react to grueling Stage 2 in Saudi Arabia: Video

Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km....[via youtube.com]

 

Saudi Arabia’s PIF raises $7bn from first murabaha facility as it seeks to boost investments

Saudi Arabia's Public Investment Fund plans to raise $7 billion from its first murabaha credit facility, as the fund diversifies its funding...[By Aarti Nagraj via thenationalnews.com]

 

Saudi Arabia sells $12 billion 3-part bond amid strong demand

 Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor...[By Rachna Uppal and Enas Alashray via reuters.com]

 

Saudi Interior Ministry confirms ban on transferring or publishing security surveillance camera recordings

Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera...[via arabnews.com]

 

Taste of 2034 World Cup as Saudi Asian Cup stadiums named

Among the venues announced Tuesday for the 24-team regional competition were the 70,000-capacity King Fahd Sports City Stadium and King Saud University Stadium, both in...[via france24.com]

 

Mideast Wealth Funds Spend $82 Billion to Ramp Up Bets on Post-Oil Future

That the Gulf’s various sovereign wealth funds have become some of the most dominant players in global dealmaking has rarely been in...[By Matthew Martin via bloomberg.com]

 

Saudi Arabia boosts desalinated water supply to 50% in Vision 2030 push

Saudi Arabia’s water sector witnessed significant shifts in 2023, with a 31 percent increase in desalinated seawater production, now comprising 50 percent of the country’s...[via azernews.az]

 

Saudi Arabia estimates 2025 budget funding at $37bn

Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved...[By Pramod Kumar via agbi.com]

 

Saudi Coffee Company and Alliance for Coffee Excellence launch Sip of Excellence Competition

Saudi Coffee Company has launched its second annual Saudi Sip of Excellence Competition in partnership with the global nonprofit Alliance for Coffee Excellence. Designed...[By April Hawksworth via gcrmag.com]

 

Saudi Arabia Plans Further Borrowing Spree to Pay for Huge Projects

Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its...[By Abeer Abu Omar and Matthew Martin via yahoo.com]

 

Leading Saudi Arabian airports hit passenger traffic highs in 2024

Jeddah King Abdulaziz International Airport and Riyadh King Khalid International Airport each posted record passenger traffic in 2024, reflecting the continuing strong performance of aviation...[By Dermot Davitt via moodiedavittreport.com]

 

Saudi Arabia Hikes Its Oil Prices to Asia as Supply Tightens

The world’s top crude oil exporter, Saudi Arabia, has raised the price of its crude loading for Asia in February by more than expected...[By Tsvetana Paraskova via oilprice.com]

 

Saudi Arabia Mandates USB Type-C Charging Ports for Mobile Devices

The Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organization (SASO) have announced that the first mandatory phase of the...[By Aayushya Ranjan via techafricanews.com]

 

Can Saudi’s New Milaf Cola Compete with Coca-Cola and Pepsi?: Video

In a move that has both bemused and intrigued the global beverage industry, Saudi Arabia has launched Milaf Cola, a fizzy drink made from dates....[via youtube.com]

 

Saudi Arabia to host Royal Rumble in 2026

WWE, in partnership with The General Entertainment Authority (GEA), on behalf of HE Turki Alalshikh, announced that the 39th annual Royal Rumble will be held in January...[via wwe.com]

 

The unique destructiveness of Israel’s war on Gaza

The death toll in Gaza has been the source of uncertainty, speculation and heated debate. Since Israel unleashed its war machine on the territory from...[By Ishaan Tharoor via washingtonpost.com]

 

Turkey’s inroads in Syria fuel accusations of ‘neo-Ottomanism’

The downfall of Iran’s longtime ally Bashar Al-Assad in Syria has put the spotlight on Iranian-Turkish rivalry in the region. Some commentators in Iran accuse...[via amwaj.media]

 

The ‘race is on’ to set up bitcoin national reserves

The concept of national bitcoin reserves is moving from theoretical discussion to geopolitical reality. A member of Russia’s parliament has called on its central bank to...[By Carla Sertin via agbi.com]

 
 

Recent Editions

Left Menu Icon
Logo Header Menu