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  • Saudi Arabia is betting big on sports: Video

    With bold investments and a bid to host the 2034 FIFA World Cup, Saudi Arabia is aiming to become a dominant force in the global sports industry. CNN’s Eleni Giokos explores how these initiatives are transforming the Kingdom's sports sector and contributing to its broader economic diversification strategy.

  • Saudi Arabia Showcases Strategic Tourism Investments at IHIF Asia, Opening Doors to Investors

    To capitalize on this momentum, the Kingdom has introduced the Tourism Investment Enablers Program (TIEP), with the Hospitality Investment Enablers (HIE) initiative serving as a cornerstone. HIE is designed to significantly boost accommodation capacity in key tourism areas, driving private investments up to $11 billion and increasing the annual GDP by $4.3 billion by 2030.

  • Saudi Arabia wins bid to host 6th UN World Data Forum in 2026

    Saudi Arabia, represented by the Saudi General Authority for Statistics (GASTAT), has won the bid to host the United Nations World Data Forum in Riyadh in 2026 after a competitive bidding process. The decision was made by the High-level Group for Partnership, Coordination and Capacity-Building for Statistics for the 2030 Agenda for Sustainable Development (HLG-PCCB), the Saudi Press Agency reported. Around 22,000 delegates from 193 countries, including data scientists, officials of the statistical offices of UN member states and individuals interested in statistics, are expected to participate in the global event.

  • Top five thermal power plants in development in Saudi Arabia

    Thermal capacity accounted for 50.5% of total power plant installations globally in 2023, according to GlobalData, with total recorded thermal capacity of 4,608GW. This is expected to contribute 35.2% by the end of 2030 with capacity of installations aggregating up to 5,040GW. Of the total global thermal capacity, 1.97% is in Saudi Arabia.

  • Saudi Arabia’s Amaala project advances with $6bn in contracts awarded

    Once complete, Amaala will feature nearly 4,000 hotel rooms across 30 hotels, in addition to 1,200 luxury villas, apartments and homes. There will be retail, dining and wellness facilities, and Amaala will be powered entirely by solar energy.

  • Saudi Arabia Largest Emerging-Market Dollar Debt Issuer; Issuance Likely to Slow

    Saudi Arabia’s debt issuance will likely slow in the second half of 2024, Fitch Ratings says. Large dividend payments by Saudi Arabian Oil Company are used to temper sovereign financing needs. Substantial volumes in 1H24 made Saudi Arabia the largest US dollar debt issuer in emerging-markets (excluding China), and the largest sukuk issuer globally.

  • Dutch high-tech consultancy TMC launches in Saudi Arabia

    Netherlands headquartered high-tech consultancy TMC has launched a new office in Saudi Arabia, its second in the GCC region. Headquartered in the city of Eindhoven, TMC is an engineering and technology consulting company dedicated to the high-tech segment. The firm’s 2,700 staff worldwide (mainly in Europe) serve diverse industries such as technology, semiconductors, IT services, energy and renewables, and life sciences. After entering the Middle East last year through an office in Dubai, TMC has now expanded into Saudi Arabia too with a similar ambition – becoming the country’s go-to consultant for high-tech work.

  • GCC Ministers Meet in Saudi Arabia, Hold Talks With Russia, BRICS Nations

    Foreign ministers from Gulf Cooperation Council (GCC) member states met in Saudi Arabia on Monday for the council’s 161st ministerial summit and held separate talks with their counterparts from BRICS nations Russia, Brazil, and India. Based in Riyadh, the GCC is a regional political and economic union made up of Gulf monarchies, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Russian Foreign Minister Sergey Lavrov attended the summit for the seventh GCC-Russia Joint Ministerial Meeting of Strategic Dialogue.

  • Saudi Arabia’s PIF to boost annual spending to $70 billion by 2025

    In its latest report on Saudi Arabia, the International Monetary Fund (IMF) highlighted that the PIF’s investments are set to reach $70 billion by 2025, according to Amin Mati, the IMF’s Mission Chief for Saudi Arabia.

  • Full steam ahead for Saudi Arabia’s aquaculture dream

    The Kingdom decided to introduce aquaculture more than 40 years ago, leading to the establishment of the National Fisheries Center. Since then, the sector has undergone significant development through international partnerships and collaborations, particularly with the Food and Agriculture Organization.