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  • Saudi artist Abdulnasser Gharem’s New York show explores control and authority

    All his art teachers were foreigners, he recalls, from places like Palestine and Sudan. Luckily, an Egyptian instructor saw Gharem’s talent early on and encouraged his family to let him go to the al-Muftaha art village in Abha. Young Gharem’s visit to the art village, founded by the governor of the southern region, Saudi prince and artist Khaled al-Faisal, within an existing 19th century village, was a revelation.

  • New Saudi startup Indeal to digitize B2B marketplace

    The global B2B e-commerce market has witnessed significant growth in the past few years. Especially after the COVID-19 pandemic, there has been a profound shift in how businesses approach digital transformation. As a result, it has opened up endless opportunities for businesses to grow and expand their global commerce and customer base. Saudi Arabia is also part of this trend. According to Mordor Intelligence, the Saudi e-commerce market is expected to grow at a CAGR of above 12.56 percent during the forecast period, 2022-2027. During the pandemic, B2C e-commerce has witnessed significant growth in Saudi Arabia.

  • Military exercise between Saudi Air Force and US counterpart begins

    The Ministry of Defense announced on Monday the start of a military exercise between the Saudi Royal Air Force and its US counterpart at King Faisal Air Base.The exercise aims to raise the level of joint action to maintain the security and stability of the region.

  • Saudi GDP up 12.2% in second quarter, exceeding initial estimate

    Saudi Arabia's real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world's top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery. The second quarter growth figure exceeded a flash government estimate at the end of July of 11.8% GDP growth. The economy grew 2.2% from the first quarter.

  • Land Bridge Project implementation to start soon: Saudi minister

    Minister of Transport and Logistics Eng. Saleh Al-Jasser said that the Land Bridge Project is witnessing increased progress, and its implementation will start in the upcoming period and it’s receiving attention and support from Crown Prince Mohammed Bin Salman. He added that the National Transport Strategy includes over 1,000 initiatives, 30 of which are major and include the Land Bridge Project that has a significant impact on strengthening the Kingdom's position as a global logistics hub. Al-Jasser made his remarks during a panel session on Monday during the Local Content Forum in Riyadh. He said that the project targets more than 60% local content, citing related studies.

  • Saudi Aramco partners with Formula Motorsport to introduce sustainable fuels

    Saudi Aramco, the world’s largest oil-exporting company, signed a preliminary agreement with Formula Motorsport to introduce the use of sustainable fuels in the Formula 2 and Formula 3 motor racing championships from 2023 as decarbonisation efforts to limit global warming gather pace globally. The agreement, which is subject to FIA World Motor Sport Council approval, “will form part of the wider sustainability strategy announced by the FIA and Formula 1, which will see the sport become net zero carbon by 2030,” the companies said in a statement on Friday.

  • Aston Martin raising $660 million in rights issue

    Aston Martin (AML.L) is raising 575.8 million pounds ($660 million) in a rights issue as major investors including Saudi Arabia's sovereign wealth fund keep faith with the struggling luxury British carmaker. The 109 year-old company said on Monday it would issue four new shares at 103 pence apiece for every existing share. At 0750 GMT, the stock was down 10% at 432.9 pence.

  • Southwest Al-Baha witnesses 3.62 magnitude earthquake

    The GSA stated that the national network stations at the Geological Hazard Center had monitored at 9:34 a.m. Wednesday an earthquake with a magnitude of 3.62 on the Richter scale.

  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    “Many global start ups see the next expansion avenue in the region as funding is available in plenty and they can have an edge by potentially relocating into Saudi Arabia and the GCC,” he said. “We will attract firms from those sectors and position the kingdom as the center of gravity for these global ventures.” To tap these opportunities, Wa’ed has increased the size of its typical investment to $20 million from $5 million, Alidi said.

  • Aramco VC Fund Turns to Global Investments in Saudi Startup Push

    Wa’ed will invest about $100 million this year after spending around $50 million over the past nine years, Chief Executive Officer Fahad Alidi said in an interview. Its $200 million fund is planning 11 investments in the second half. On top of fintech and e-commerce, the firm will expand into sectors such as deep tech, space tech the metaverse and sustainability.