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  • Commentary: Chinese Takeout in Saudi Arabia? You Bet

    The company is joining a growing fleet of businesses that see a bright future in the Gulf kingdom. In recent months, Chinese firms won multibillion-dollar contracts to build solar plants and mixed-use development projects. In exchange for a $2 billion investment, PC maker Lenovo Group Ltd. is establishing regional headquarters there in a deal that is expected to create 15,000 jobs locally. And last but not least, Hong Kong’s flagship airline Cathay Pacific Airways Ltd. will start a new direct route to Riyadh in late October, pleasing Saudi officials who have been pitching the nascent tourism industry.

  • Why are the United Arab Emirates and Saudi Arabia Key to the Expansion of Brazilian Agriculture?

    The diversification of Brazilian export destinations is crucial to reduce overdependence on a single market, such as China, which currently accounts for a significant share of Brazil’s exports. Although China is a critical trading partner, concentrating exports in a single market makes the country vulnerable to economic and political risks, such as oscillations in demand, changes in trade policies, and economic instability.

  • Neymar backs Saudi Arabia’s uncontested 2034 World Cup bid

    Al Hilal forward Neymar has thrown his support behind Saudi Arabia's bid to host the 2034 World Cup, saying the event there would be "very exciting for everyone." FIFA is expected to rubber-stamp Saudi Arabia as host in an uncontested vote by the governing body's 211 member federations before the end of the year, with the Gulf nation the only candidate to enter the contest.

  • Saudi Arabia emphasizes the importance of Lebanon’s stability and sovereignty

    The Saudi Ministry of Foreign Affairs expressed grave concern over the ongoing security developments in Lebanon, reiterating the risks associated with the escalation of violence in the region and its potential impact on regional security and stability. According to a statement from the ministry, Saudi Arabia urges all parties to exercise maximum restraint and to distance the region and its people from the dangers of war.

  • Saudi Arabia ranks 1st for government strategy in Global AI Index 2024

    Saudi Arabia has retained its top ranking for Government Strategy in 2024’s Global AI Index compiled by Tortoise Media, meanwhile the Kingdom shot up in the overall index from 31st place to 14th place.

  • Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?

    In May of 2023 the International Monetary Fund forecast the kingdom’s breakeven oil price at $80.90 per barrel, which moved it back into a fiscal deficit following its first surplus in nearly a decade. To be sure, the fiscal breakeven isn’t the price at which Saudi Arabia makes a profit on crude but the average oil price it needs to balance the books. The IMF’s latest forecast, in April, put that breakeven figure at $96.20 for 2024; a roughly 19% increase on the year before, and about 32% higher than the current price of a barrel of Brent crude, which is trading at around $73 as of Wednesday afternoon.

  • Saudi Arabia Ranks 2nd among G20 Countries in UN Telecommunication Infrastructure Index

    Saudi Arabia secured the second position among Group of Twenty (G20) countries in the United Nations Telecommunication Infrastructure Index (TII), showcasing notable advancements in the Kingdom's digital infrastructure and the efficacy of governmental efforts to bolster e-government. The TII assesses the progress of digital telecommunications infrastructure development globally and serves as a key component of the E-Government Development Index (EGDI).

  • Tourism new driver for enhancing Saudi Arabia’s rating: S&P

    The tourism sector currently accounts for about 4% of Saudi Arabia's gross domestic product (GDP), and was a highly promising and productive sector in 2023, Al-Eqtisadiah newspaper quoted Zahabia Gupta, Head of Sovereign Ratings at S&P Global Ratings, as saying. She affirmed that it is one of the new factors supporting the Kingdom’s credit rating.

  • Saudi Arabia National Day 2024 – Google Doodle

    Today’s Doodle celebrates Saudi Arabia’s National Day! On this day in 1932, Saudi citizens celebrated the establishment of the Kingdom of Saudi Arabia.

  • Saudi Arabia leads G20 in tourism growth with 73% rise in international visitors

    Saudi Arabia has emerged as a leader in tourism growth among G20 nations, experiencing a remarkable 73 percent increase in international visitors in the first seven months of 2024 compared to 2019. The UN World Tourism Barometer reports that the Kingdom welcomed 17.5 million international tourists during this timeframe, showcasing its growing allure as a global travel destination.