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  • Al Nassr postpones matches in Shenzhen due to uncontrolled circumstances

    In an unexpected turn of events, Al Nassr Club has announced the postponement of its highly anticipated matches in Shenzhen, initially scheduled for Jan. 24 and 28.

    The club cited unforeseen circumstances beyond their control as the reason for this delay, with new dates yet to be determined. Despite this setback, Al Nassr expressed deep respect for Chinese football enthusiasts, particularly fans of star player Cristiano Ronaldo.

  • Saudi cabinet reaffirms Kingdom’s strong stance against Israel’s attacks on Gaza

    King Salman on Tuesday chaired a session of the Saudi cabinet in Riyadh reaffirming the Kingdom's strong stance against Israel's attacks on the Gaza Strip. The Council of Ministers stressed the necessity of an immediate ceasefire and for the prevention of the displacement of the population of Gaza.

  • Saudi Arabia set to allow foreign investments in real estate of companies in Makkah and Madinah

    Mohammed Elkuwaiz, chairman of the Board of Directors of the Saudi Capital Market Authority (CMA), said that the authority intends to allow non-Saudis to invest for the first time in listed companies that own real estate in the holy cities of Makkah and Madinah. The authority is working to diversify financing products in the capital market during the current year by developing the debt market, real estate contributions, and a number of developments in the funds sector.

  • Aramco awards $3.3bn gas facility contracts to Sinopec and Tecnicas Reunidas

    Aramco has awarded contracts worth more than $3.3 billion to Chinese company Sinopec and Spain’s Tecnicas Reunidas to build a gas facility in Saudi Arabia. According to a disclosure on the Spanish Stock Exchange, Sinopec will own 65 percent of the project and Tecnicas Reunidas will have a 35 percent share. The contract includes the development of a new facility in Saudi Arabia called Riyas natural gas liquids at the Jafurah unconventional gas production project.

  • E-Sports in Saudi Arabia receives $45 million investment

    The rapidly growing gaming market in Saudi Arabia has received a huge boost after Dubai-based e-sports brand, True Gamers, signed a franchise deal worth $45 million with investment firm, Falak, reports Meed. The investment will involve the creation of 150 e-sports clubs across Saudi and seeks to capitalize on a market that is expected to expand by over 8% annually over the next three years, eventually meeting a market value of $1.3 billion by 2027.

  • Arab Peace Proposal for Gaza Takes Shape as Top Biden Adviser Lands in Region

    The proposal, submitted to Israel via the U.S., is the first joint plan by Arab states to end the war in Gaza and set a pathway toward a two-state solution. Saudi Arabia, which is one of five Arab countries making the proposal, is offering to normalize ties with Israel in return, a process derailed by the Hamas-led attack on Oct. 7.

  • Formula E attracts backing from Saudi Arabia’s Public Investment Fund

    Now the Saudi Arabian PIF has agreed a multi-year deal with Formula E, offroad electric series Extreme E and electric powerboat championship E1. The three series will be promoted under the new brand Electric 360. Formula E founder Alejandro Agag called the deal “a huge milestone for us in our journey to pioneer the most cutting-edge sustainable transport technology.” “PIF will not only play a strategic role in helping us leverage our unique technological platforms, but also foster global collaboration, education and skills development for the next generation worldwide.”

  • Saudi Arabia leads IPOs in GCC region: KAMCO Invest

    Saudi Arabia continued to lead initial public offerings in the Gulf Cooperation Councill region in 2023, with 35 out of the 46 IPOs occurring in the Kingdom. Saudi Arabia’s parallel market, Nomu, witnessed 27 IPOs in 2023, while the Tadawul All Share Index saw eight deals, according to research by KAMCO Invest. UAE continued its domination in terms of IPO proceeds, raking in almost 56.3 percent of the issuance proceeds at around $6.07 billion from its eight listings.

  • Benzema wants to leave Saudi club after bust-up: source close to club

    The 36-year-old former Real Madrid striker held a "raging" meeting with the club and its Argentinian coach Marcelo Gallardo last Friday, the source said. Benzema told his coach and club management "he doesn't feel he is able to give his best because of the current pressure at Ittihad". "Benzema asked to leave Ittihad temporarily to change the atmosphere," the source added. Al-Ittihad offered to loan the French striker to another Saudi Pro League club but he has refused, the source added.

  • Saudi Arabia launches cutting-edge air mobility initiative

    In an effort to redefine air travel and cargo transport, the General Authority of Civil Aviation (GACA) of Saudi Arabia released yesterday the "Enabling Advanced Air Transport in the Kingdom" initiative. The initiative promises to revolutionize the Saudi aviation sector, positioning it as a leader in Advanced Air Mobility (AAM) in the Middle East through sustainable and state-of-the-art technologies. The initiative comprises a spectrum of pioneering solutions, from unmanned aircraft systems to vertical take-off and landing (VTOL) aircraft. These advancements aim to enhance the safety, soundness, and sustainability of air transport, significantly accelerating the mobility of people and goods while addressing environmental concerns.