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  • Saudi Arabia among first to start pavilion build for Expo 2025 Osaka

    Saudi Arabia has begun constructing its pavilion at the Expo 2025 Osaka site on Yumeshima Island, making it among the first nations to do so. The design reflects the Kingdom’s history, culture and current economic transformation. The ceremony on Jan. 31 to announce the construction was attended by government delegates from Japan, and officials from other nations participating in Expo 2025 Osaka. Saudi Arabia’s delegation at the ceremony was led by Othman Almazyad, commissioner-general for the Kingdom’s Expo 2025 Osaka.

  • Commentary: Saudi Arabia’s oil production move

    There's no real consensus about why Saudi Arabia ditched plans to raise its max oil pumping capacity — a decision the kingdom has not explained. Some in the energy market's analyst hive-mind see a tacit concession that long-term consumption increases won't match the Saudi's bullish public stance.

  • No Saudi citizens harmed, embassy says as student wearing hijab attacked in US school

    Various news reports and some videos circulating on social media showed a headscarf-wearing student being slammed against a locker and then pushed to the ground by a male student. Many called the assault a hate crime, but Queen Bee School District 16 Superintendent, Joseph Williams, told the Chicago Tribune newspaper that investigators have identified the students and there is no indication that the attack was motivated by bigotry. “This is a serious disciplinary incident and we’re handling it as such, but we have no evidence that this was some act of intolerance related to a matter of faith,” Williams said.

  • Saudi food industry sees buoyant demand, growth momentum to improve in Q1 2024: Almunajem CEO

    The demand levels in Saudi Arabia’s foods industry are strong and the momentum will likely continue over the coming period due to population growth, tourism, and Hajj and Umrah programs, Thamer Abanumay, CEO of Almunajem Foods Co., told Argaam. However, inflation levels and unstable supply chains weigh on prices, he added. The sector’s growth is forecast to continue through Q1 2024, backed by the seasonal demand in Ramadan.

  • Saudi FDI data overhaul to use financial statements not estimates

    Saudi Arabia has begun using data gathered directly from company and investor financial statements to calculate foreign direct investment (FDI) as part of a push to modernize and centralize the kingdom's economic data, a Saudi official told Reuters. Attracting FDI is a pillar of a vast plan by the kingdom's de facto ruler Crown Prince Mohammed bin Salman to boost non-oil gross domestic product, diversify the Saudi economy and cut its reliance on crude oil exports.

  • Saudi real estate platform transactions soar to $267m a day, 1m users registered

    Saudi Arabia’s Real Estate Market platform has 1m registered users and averages $1bn ($267m) of transactions a day, according to a report from the Ministry of Justice (MoJ). The MOJ announced this represents a significant growth in the usage of the Real Estate Market platform. The platform has over one million registered users, with the average daily user count surpassing 30,000.

  • Saudi aid convoys arrive at Nile River and Northern states in Sudan

    Convoys carrying relief supplies sent by Saudi aid agency KSrelief have arrived at Nile River State and Northern State in Sudan, the Saudi Press Agency reported on Wednesday. The arrival of the convoys at their destinations marks the start of the second phase of a project to support food security in the North African country, officials said. Maj. Gen. Abdul Mahmoud Hammad Hussein, the acting governor of Nile River State, thanked Saudi Arabia for the aid and relief projects it provides, through KSrelief, for the Sudanese people, who are facing a humanitarian crisis.

  • What are people in Saudi Arabia buying?

    The number one used financial app is STC pay. 45 per cent of Saudi Arabia’s population say that Stc Pay is the mobile payment platform they typically use. The second app that is not far behind in numbers is Mada Pay. Surprisingly, global payment platforms such as Apple Pay and Samsung Pay lie on the lower end of the scale. Apple Pay is used more often compared to Samsung Pay, when comparing 32 per cent of people who said they used Apple Pay to Samsung Pay’s 11 per cent. When it comes to financial services, most of the respondents opted for Mada as their choice. After Mada, the next most popular ones are Visa and Stc Pay. When it comes to retail banks on the other hand, almost half of the respondents chose Alrajahi Bank. The remaining were split almost equally between Riyad Bank and Alinma Bank.

  • CENTCOM chief in Saudi Arabia to meet top military general as violence engulfs region

    The top US military general for the Middle East met with Saudi Arabia’s Chief of General Staff, Gen. Fayyad Al-Ruwaili, on Wednesday to discuss deepening military and defense ties, the Saudi Ministry of Defense said. United States Central Command (CENTCOM) chief Gen. Erik Kurilla visited the Kingdom, where they discussed bilateral relations as well as the prospects for cooperation in various fields, a statement from the Saudi ministry said.

  • The Rise of Saudi Arabia’s Venture Capital Ecosystem: A 5-Year Reflection

    Against the gloomy picture painted in most regions, Saudi Arabia weathered this storm with success, becoming MENA’s leading market for venture capital funding, where $1.38BN was deployed in capital to Saudi-headquartered startups in 2023. Central to this was the investment in four MEGA deal rounds, investments greater than $100M+, which were closed by Nana, Floward, Tamara, and Tabby, with the latter announcing their relocation to the Kingdom in Q4 2023. These four deals together captured 64% of the capital deployed in the Kingdom.