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  • Saudi Arabia, India sign 47 MoUs to bolster investment landscape

    Saudi Arabia and India have signed a bilateral agreement to bolster the investment climate in both countries, said a senior minister at an ongoing investment meet in New Delhi. Speaking at the India-Saudi Investment Forum in New Delhi, Badr Al-Badr, the deputy minister of investor outreach at the Saudi Ministry of Investment, said: “The Ministry of Investment of Saudi Arabia and Invest India have signed a bilateral agreement to strengthen mutual investment endeavors and have given the comfort zone to investors and traders to do more business.”

  • Saudi Arabia’s Energy Capital Group invests in US-based Pure Lithium

    Saudi Arabian fund Energy Capital Group has invested in Pure Lithium, a US-based firm specialising in lithium metal batteries, as part of its plan to support disruptive technology. The fund-raising for the company was led by board member and billionaire mining investor Robert Friedland, Energy Capital Group said in a statement on Wednesday. The Saudi company is engaged in discussions with potential investors and partners in the kingdom to support Pure Lithium’s expansion in the region, it added.

  • Navigating Biologics Localization in Saudi Arabia: Unveiling the Policy Landscape

    Central to successful biologics localization in Saudi Arabia are the policies and incentives that create an environment conducive to growth in the sector. Streamlined regulatory processes, expedited approvals and facilitated licensing for biologics manufacturing are some of the advantages Saudi Arabia offers. These incentives expedite the market entry process, empowering companies to gain a competitive edge. Government agencies driving localization in Saudi Arabia include the Ministry of Investment Saudi Arabia (MISA), the Saudi Food and Drug Authority (SFDA) and the National Unified Procurement Company (NUPCO).

  • PGA Tour’s Landscape Shifts With Saudi Talks, Evolving Media

    After Sunday’s final round of the Tour Championship concludes the FedEx Cup Playoffs — and thus the 2022-23 season —  the PGA Tour will enter a new, uncertain era. Ahead of the tournament, PGA Tour commissioner Jay Monahan said he was “certain” a definitive agreement would be reached with the PIF. But questions are mounting about the deal’s completion ahead of a Dec. 31 deadline — sources told Front Office Sports progress has been slow. Monahan and other Tour officials have repeatedly pointed to the ongoing negotiations when asked for specifics about what the future could look like.

  • Saudi Arabia’s Digital Landscape Soars, with IDC Forecasting ICT Spending to Surpass $34.5 Billion

    Saudi Arabia is propelling itself into a new era of digital innovation. Fueled by an influx of foreign direct investment and a colossal $7 trillion development plan for giga projects, ICT spending in the Kingdom is projected to soar beyond $34.5 billion this year. That's according to the latest forecast from International Data Corporation (IDC), with the global technology research, consulting, and events firm predicting particularly strong compound annual growth rates (CAGRs) for software (11.4%) and IT services (8.7%) over the 2022–2026 period.

  • The Americas Lead Airline Capacity Recovery in 2023

    The Americas became the first region to recover to pre-pandemic capacity in the first half of 2023. Airline capacity, measured in Available Seat Miles (ASMs), is the number of passenger seats available on any given route, and while it does not take load factors (occupied seats) into consideration, it’s a good indicator of expected demand by airlines. Owing to a substantial intra-regional rebound in capacity, both North and South America have recovered to pre-pandemic levels.

  • Saudi Arabia’s $2.6 billion mining deal reshapes global decarbonization landscape

    At the end of July, a $2.6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and other industrial metals — all critical materials needed to help the world decarbonize. The deal set the stage for a landmark shift in the metal and mining investment landscape and positions the Kingdom as a pivotal global player. Deals like the one with Vale SA are being staged at a time when governments across the world are questioning who controls the commodities needed to hit decarbonization targets and sustain the world’s economy during intense climate change and volatile markets.

  • Saudi Arabia’s $2.6 billion mining deal reshapes global decarbonization landscape

    At the end of July, a $2.6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and other industrial metals — all critical materials needed to help the world decarbonize. The deal set the stage for a landmark shift in the metal and mining investment landscape and positions the Kingdom as a pivotal global player. Deals like the one with Vale SA are being staged at a time when governments across the world are questioning who controls the commodities needed to hit decarbonization targets and sustain the world’s economy during intense climate change and volatile markets.

  • Saudi Arabia expresses deep concern over armed clashes in Libya capital

    Tripoli’s worst armed clashes in a year have killed 55 people and wounded 146, Libyan media reported as a truce took hold. Fighting erupted on Monday night and raged through Tuesday between the influential 444 Brigade and the Al-Radaa, or Special Deterrence Force, two of the myriad of militias that have vied for power in the country since the overthrow of Muammar Qaddafi in 2011.

  • Militia clashes rock Libya’s capital, leaving civilians trapped, health ministry says

    Clashes between rival militias in the Libyan capital have left residents trapped in their homes unable to escape the violence, the country's health ministry said Tuesday, in what appears to be the most intense fighting to rock Tripoli this year. Fighting broke out between the 444 brigade and the Special Deterrence Force late Monday evening, according to local media. Tensions flared after the head of the 444 brigade was allegedly detained by the other force at an airport in Tripoli earlier Monday, media reported.