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“The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: “The Clean Hydrogen Economy and Saudi Arabia.”
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Fakeeh Care Group 119 times oversubscribed as Saudi IPO market heats up
Investors put in $91 billion of orders for Fakeeh Care Group’s IPO which is set to be the Tadawul’s biggest listing of the year.
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Nusuk pilgrim card launched
With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.
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Saudi Space Agency and WEF Establish Space C4IR Center
The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR) focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.
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IMF Launches New Regional Office in Saudi Arabia
The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration. It also underscores the growing economic importance of the region.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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Biden’s Oil Boom
Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.
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MUST-READS
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Is Kuwait’s National Assembly history?
Sheikh Meshaal Al-Ahmad Al-Sabah’s decision to dissolve Kuwait’s National Assembly this month is a significant development. In an announcement on state television, the Emir declared that for “a period of no more than four years,” the parliament and parts of the constitution would be suspended and under review. “I will not allow democracy to be exploited to destroy the country,” said Sheikh Meshaal, who claimed he was required to make “difficult decisions to save the country.”
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How are Ronaldo and other Saudi Pro League stars shaping up for Euros?
England kick off Euro 2024 against Serbia on 16 June and if Jordan Henderson is called up then the former Al-Ettifaq midfielder should be able to give Gareth Southgate an idea of the form Aleksandar Mitrovic and Sergej Milinkovic-Savic are in. They are two of a growing number of European internationals who will be acting as unofficial ambassadors for the Saudi Pro League (SPL) this summer – especially if they underperform.
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Will Saudi Arabia’s sports investment trigger an athleisure boom?
By 2030, the government aims to increase the ratio of individuals exercising at least once a week to 40 percent. With an expanding base of sports practitioners, the country’s sportswear and athleisure apparel market is set to boom. In 2022, the category generated $1.3 billion (SAR 4.9 billion) in sales, and by 2027, it is expected to reach $1.5 billion. Could Saudi Arabia be the next frontier for sportswear?
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Why are So Many Iranians Seemingly Indifferent to the War in Gaza?
Forty-five years after the revolution that saw the Shah dethroned, there has been a significant shift in Iranian public opinion. While the Islamic Republic is considered the primary state enemy of Israel, the Palestinian-Israeli conflict does not appear to be a priority for the Iranian public, including various opposition groups, students, and intellectuals. This is reflected in the slogan “No to Lebanon, no to Palestine, my life only for Iran,” which appeared in 2009 during the Green Movement that followed fraud-tainted Iranian elections.
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How Do You Solve a Problem Like the Houthis?
The last seven months have made two things clear. First, the Houthi threat to commercial shipping and freedom of navigation is not going to disappear. This will remain true whether there is a cease-fire in Gaza or not – the genie is out of the bottle, and it will be very hard to contain it. Second, the United States does not have a good toolbox to counter the Houthi threat. As Haines told Congress, U.S. actions have “been insufficient to really stop the Houthis from going down this road.” All of this raises the key question: How can the United States deal with a long-term and enduring challenge like Houthi attacks on commercial shipping?
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What is Saudi Arabia Vision 2030? Its Pillars, Programs and Projects
Saudi Arabia Vision 2030 is a monumental undertaking with its fair share of challenges. Implementing such a comprehensive transformation requires significant investment, social reforms, and overcoming bureaucratic hurdles. However, the potential rewards are immense. A successful Saudi Arabia Vision 2030 paves the way for a more prosperous, diversified, and globally connected Saudi Arabia.
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What’s a Golden Visa and Where Can You Still Get One?
Often known as a “residence by investment program,” a golden visa allows individuals to obtain temporary or permanent residency in a given country, so they can live and work there. The investments may include buying a house, creating a company or making a donation.
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Commentary: What’s So Bad About Fixing Oil Prices?
Oil’s history is full of attempts at stabilizing prices. Petroleum is an essential commodity that has high capital needs and long lead times: That lends itself to boom-and-bust cycles that are painful for consumers, governments and companies. There is no immediate cure for price spikes or plunges because it is impossible to turn on significant new oil supply or to turn off demand for it on short notice. Storage helps, but oil must be kept underground or in specialized tanks.
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When is Eid al-Adha? And when will Hajj 2024 begin? All you need to know
The Muslim world is gearing to celebrate Eid al-Adha this year on or around Sunday June 16, according to various astronomical calculations. The date, however, can change depending on the beginning of the Dhu al-Hijjah month. It is expected that Saudi Arabia will call on Muslims in the Kingdom to sight the crescent moon on June 6.
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Alipay+ expands to Saudi Arabia. Good news for luxury?
Chinese fintech giant Ant Group is aggressively expanding abroad, with its eyes now on Saudi Arabia. Singapore-based Ant International, which extends the group’s innovative fintech solutions to global markets, has signed a Memorandum of Understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA) to facilitate business growth in the kingdom.
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