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Saudi Arabia’a Allocating $267 Million to Intellectual Property Strategy, a Sign That Kingdom is ‘Prioritizing a Knowledge-Based Economy’
The allocation of $267 million to the Intellectual Property Strategy is a signal that Saudi Arabia is “prioritizing a knowledge-based economy,” according to an item in the International Intellectual Property Law Association website.
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Shares of oil and gas driller ADES Holding Climbed Almost 30% above its listing price on its market debut in Riyadh
Shares of oil and gas driller ADES Holding climbed almost 30% above its listing price on its market debut in Riyadh on Wednesday after raising $1.22 billion in an initial public offering last month, according to Reuters.
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Regional HQ Executives to get Premium Residency Under New Government Scheme to Boost Investment
Saudi Arabia’s Ministry of Investment has developed a mechanism to grant premium residency to executives who base their company’s regional headquarters in the Kingdom, according to reports, in a bid to boost the business environment in the Kingdom and attract more foreign investment.
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First Hydrogen Train in Middle East to Begin Trials Next Week, Saudi Energy Minister Says
Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman said on Sunday that the first hydrogen train in the Middle East will begin trials next week, according to a report in Reuters.
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The Growing Size and Role of the Public Investment Fund (PIF) in Saudi Arabia with Robert Mogielnicki, FII 2023, Saudi World Cup and more…
Dr. Robert Mogielnicki, Senior Resident Scholar at The Arab Gulf States Institute in Washington and professorial lecturer at George Washington University joins The 966 to discuss the growing size and role of the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF). Robert has previously characterized the PIF as, “screaming onto the scene” with an […]
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Israeli Minister Speaks Publicly for the First Time in Saudi Arabia’s Capital Riyadh – Report
An Israeli minister spoke publicly for the first time in Saudi Arabia’s capital Riyadh about “blossoming ties” between the two countries, the latest sign the duo are inching toward normalizing relations – and even thanked the two leaders, mentioning first the Kingdom of Saudi Arabia.
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Saudi Arabia’s Tourism Effort Paying Off as Sector Sees 58% Growth in 2023 — Report
Saudi Arabia has been ranked second globally in terms of tourist arrivals during the first seven months of 2023, the Saudi Press Agency reported on Tuesday.
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PIF Announces Establishment of Al Balad Development Company (BDC) to become the main developer of Jeddah’s historic Al Balad District
The Public Investment Fund (PIF) announced the establishment of the Al Balad Development Company (BDC), which will become the main developer of Jeddah’s historic Al Balad district, “in line with the continuous efforts led by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz to revitalize Historic Jeddah to transform Jeddah into an economic hub, […]
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Discussing the Venture Capital ecosystem in Saudi Arabia and the MENA with investor Amjad Ahmad and much more…
In episode 105 of The 966, Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins to discuss the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad […]
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Saudi Aramco expands into LNG by buying stake worth $500m in MidOcean Energy
Saudi Aramco, the world’s largest oil-exporting company, has signed a $500 million agreement to buy a minority stake in liquefied natural gas (LNG) company MidOcean Energy. This is Aramco’s first investment in LNG and is part of the company’s efforts to diversify its activity beyond its core oil business. The strategic partnership enables Aramco to tap into […]
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MUST-READS
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Will Kadhimi remaining as PM avert renewed confrontation in Iraq?
After a lull in tensions over the recent Shiite religious holiday of Arbaeen, the head of the Sadrist Movement is hinting at renewed escalation in Iraq. This comes as Muqtada Al-Sadr’s Shiite rivals have re-endorsed their prime minister candidate, Mohammed Shia’ Al-Sudani—the same move that sparked a Sadrist storming of the Iraqi parliament in late July. A high-ranking delegation is expected to visit Sadr amid hints of Prime Minister Mustafa Al-Kadhimi remaining in office possibly averting a crisis.
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Iranians in focus as pilgrims mass in Iraq for Arbaeen
As millions of Shiite faithful are converging in Iraq for Arbaeen, controversy has erupted over Iranian participation in the pilgrimage. Sadrist Movement leader Muqtada Al-Sadr has singled out Iranians in a call for more rigid regulation of the annual event. At the same time, he has strongly condemned any “assault” on “Iranian brethren.” Meanwhile, the Islamic Republic is under fire at home for having encouraged mass participation in Arbaeen without apparent sufficient preparation, compelling a temporary shutdown of border crossings.
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Archeologists Discover Hundreds Of ‘desert Kites’ In Saudi Arabia, Iraq
Archaeologists from the University of Oxford used satellite images to identify and map more than 350 monumental hunting structures, known as “desert kites,” in northern Saudi Arabia and southern Iraq. These "desert kites" are made of stone walls erected in the middle of the desert that can reach several miles, which converge on each other. In terms of size, the "heads" of kites can be over 300 feet wide, but the supporting walls (the "strings" of the kite) can be much longer. The archaeologists believe they were used to guide game such as gazelles to an area where they could be captured or killed. Some of these giant structures date back to 8,000 BC, during the Neolithic era.
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Is Iraq on the brink of a new civil war?
Whether Prime Minister Kadhimi can bring the dialogue to a successful conclusion is debatable. Unless Sadr agrees to join the talks, they will go nowhere; and so far, he has refused to do so. Simultaneously, Sadr’s strategy to reject any dialogue with his opponents unless they agree to his demands — if, indeed, this truly is a strategy rather than simply a series of emotive and instinctive decisions on his part — will at some point start to show diminishing returns.
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Climate migration in Iraq’s south brings cities to crisis
The United Nations describes Iraq as the fifth-most-vulnerable country to climate change. Temperatures have increased by 1.8 degrees Celsius (3.2 degrees Fahrenheit) in three decades, according to Berkeley Earth, well above the global average, and in the summers, the mercury now regularly hits 50 Celsius (122 Fahrenheit). The heat is burning crops and desiccating marshes. As upstream dams in Turkey and Iran weaken the flows of the Tigris and Euphrates rivers, a salty tide is creeping north from the Persian Gulf, poisoning the land — and the jobs it once created.
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Attacks on major Iraqi gasfield drive out U.S. contractors
A series of rocket attacks on a gasfield in northern Iraq has sent the U.S. contractors working on its expansion packing, dealing a blow to the Kurdish region's hopes of boosting its revenues and offering a small alternative to Russian gas. The project to expand the Khor Mor field operated by Pearl Consortium, majority-owned by Abu Dhabi's Dana Gas (DANA.AD) and its affiliate Crescent Petroleum, was suspended at the end of June after three rocket attacks.
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Saudi Arabia urges Iraq’s political parties to peacefully address people’s demands
Saudi Arabia urged all political parties in Iraq to resort to peaceful solutions to address the demands of the Iraqi people after clashes in Baghdad killed at least 23 people, the official Saudi Press Agency (SPA) reported on Tuesday.
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Iraq’s violence reflects an enduring dysfunction
“The Iranian brand has suffered especially among the Arab youth, particularly among Shiite youth” in the region, said Randa Slim of the Middle East Institute during a Tuesday webinar. It’s a brand, she added, “of failed governance, of civil wars, of associating with groups that have killed civil society actors.”
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Iraq’s Sadr declares ‘final retirement’ as street politics escalates
As for the rift between Sadr and Haeri, it appears to be renewing focus on the former’s alleged ambitions to lead the Najaf-based Marjaiya—a centuries-old Shiite collegial institution that brings together top religious scholars. Indeed, while Haeri has directed his followers to “obey” Khamenei, the Sadrist Movement is left without a supreme religious authority. Moreover, as some Iraqi observers have pointed out, many younger Sadrists do not follow Haeri.
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Will oil dispute with Baghdad shift dynamics within Iraqi Kurdistan?
In Iraq, the federal government and the authorities in the Kurdistan region are locked in a serious and multipronged dispute over the country’s oil and natural gas resources. The drama is playing out both in the courtroom and via attacks on sites associated with the energy industry. The dispute has the potential to bring Iraqi Kurdistan’s ruling parties—the Kurdistan Democratic Party (KDP) and the rival Patriotic Union of Kurdistan (PUK)—closer together. But it could also drive them further apart, with the PUK developing a separate relationship with Baghdad.
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