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Saudi Arabia taking ‘unprecedented hands-on role in housing finance and development’
Saudi Arabia’s housing minister Majed al-Hogail gave an interview with Bloomberg last week in which he discussed the government’s plans to create its own development company and start a mortgage-guarantee fund to encourage banks to increase lending for Saudis. “‘We are looking to improve the productivity of the local developers’ but also trying to attract international […]
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Throwback: Photos of King Salman at King Saud University, 40 Years On
Recently released photos by the Saudi Press Agency (SPA) show King Salman at the King Saud University roughly 40 years ago, as the then-prince assisted in shaping the Riyadh-based University to be what it is today. King Saud University (KSU) is billed as “the premier institution of higher education in the Kingdom of Saudi Arabia. Prince […]
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New Homeland Security Decision Allows Saudi Students to Stay in U.S. for 3 Years By Getting On the Job Training
The United States Department of Homeland Security (DHS) recently published a new rule allowing F1 students the opportunity to stay in the country longer “by getting training on the job at some companies for a period of 36 months,” according to a report in Arab News and information posted to the DHS website. According to DHS, […]
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What Will Be Saudi Arabia’s Next Tourist Destination?
Saudi Arabia’s King Abdullah Economic City (KAEC) attracted more than 100,000 visitors last year, a sign that the planned mega city about 100 miles north of Jeddah on the Red Sea might become Saudi Arabia’s next domestic tourist destination. Although Saudi citizens typically flock to Dubai, Bahrain, or elsewhere abroad for leisure trips, that might […]
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In Bid to Boost Transparency, Saudi Regulators Require International Banks to Disclose Financial Statements
Saudi Arabia’s Capital Markets Authority (CMA) is instructing international banks to publicly disclose financial statements for the first time as the kingdom seeks to boost transparency, according to a report in Bloomberg. The Bloomberg report says that companies under the regulation of the CMA in Saudi Arabia must publish the financial information on their websites […]
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Surge in Flights from Saudi Airports as Kingdom’s Aviation Sector Booms
Saudi Arabia’s airports have seen a “substantial growth in international traffic” as the number of international flight services from the Kingdom’s airport surges 50% since last year. The number of international flight services from the domestic airports jumped by 51.5 percent to 26,361 at the end of 2015 from 17,405 in 2014, according to a […]
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Construction Payment Delays Draw International Attention, Report Says
Foreign governments are pressing both government authorities and company executives in Saudi Arabia “to ensure that local construction firms make delayed salary payments to thousands of workers, a sign of pressure on the kingdom’s economy due to low oil prices,” according to a Reuters report. Construction firms in Saudi Arabia are have been squeezed as […]
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Saudi Arabia Eyes Privatization of Power, Opening Opportunities for International Power Companies
Saudi Arabia is heading towards privatizing the electricity sector and “shifting towards solar and alternative energy in the framework of its efforts to reduce the use of fossil fuels in production rates,” according to a report in Asharq Al-Awsat citing “informed sources.” The Saudi Electricity Company plans to “split into four units with local and […]
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More than 50 Members of U.S. GOP ‘Foreign Policy Community’ Write Open Letter Calling Donald Trump Unfit for Office
An open letter signed by over 50 members of the Republican foreign policy community, including former Department of Homeland Security Secretary Michael Chertoff and former Deputy Secretary of State Robert Zoellick, has called Donald Trump unfit for office and pledged to work to stop him from receiving the Republican nomination. “We the undersigned, members of […]
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Nitaqat Effort Suffers Setback: 2015 was the ’Slowest Annual Increase on Record for Saudi Net Employment’ as Most New Jobs Still Going to Non-Saudis
A recently released Jadwa Investment report on Saudi Arabia’s labor market found little headway being made in Saudi Arabia’s goal of increasing employment of Saudis. According to Jadwa Investment, although Saudi Arabia’s unemployment rate fell slightly from 11.7 percent in 2014 to 11.5 percent in 2015, “of these positions, 368 thousand (or 88 percent) […]
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MUST-READS
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Saudi Arabia ranks 1st on 2024 Edelman Trust Barometer
The 2024 trust barometer reported that 86% of Saudis trusted their government, compared to 83% a year earlier. The Kingdom also took the fourth place globally on the index of trust in the business sector and came seventh on the index of trust in media. The survey covered nearly 32,000 respondents from 28 countries. China came second in terms of trust in government, followed by the UAE and Singapore.
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Saudi AAM Initiative to provide safe and most developed means of air mobility in Mideast
This includes a wide range of innovative solutions ranging from small unmanned aircraft to aircraft with vertical take-off and landing. These technologies will be able to provide safe, sound, sustainable and faster means of transport for people and goods, characterized by high technical capabilities that contribute to alleviating congestion on the roads and facilitating easy access to remote areas in the country, and thus contributing to achieving overall economic and social development.
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Saudi Arabia identifies 1,200 sites for wind, solar projects
The Saudi energy minister, Abdulaziz bin Salman Al Saud, has said that experts have identified 1,200 sites for the deployment of large-scale wind and solar projects across the country. According to local media reports, the minister made the announcement at the Digital Government Forum in Riyadh. He said that the sites are spread across the country. Site identification was made through a geographical survey.
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Top art exhibitions in the UAE and Saudi Arabia to see this spring
A mix of blockbuster shows and calmer retrospectives to catch in the coming months.
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Lionel Messi arrives in Saudi Arabia on Asian tour
The players were greeted by a special Saudi delegation and handed a bouquet of pink and white roses on arrival. The Inter Miami squad touched down in Riyadh as part of their pre-season preparations that will see the MLS club play Al-Hilal on January 29 and Cristiano Ronaldo's Al Nassr on February 1 at the Kingdom Arena Stadium.
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Saudi Arabia’s Oil Exports via the Red Sea Remain Uninterrupted, head of Aramco’s refining says
“We’re moving in the Red Sea with our oil and products cargoes,” Mohammed Al Qahtani, head of Aramco’s refining, oil trading and marketing division said, adding that the risks were “manageable”. This is in stark difference to other oil traders, which have rerouted tanker traffic away from the Red Sea. This has added substantially to costs, with the longer journey around the Cape of Good Hope in Africa adding close to $1 million to the transport bill of a tanker, per data from LSEG Shipping Research. Shipbroker data from Xclusiv, however, showed that deliveries of Saudi Arabian crude to Europe had declined between December and this month by 15%, suggesting some interference with normal traffic.
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Saudi Arabia Reveals Grand Ambition to Become a Global Biotech Powerhouse by 2040
Saudi Arabia, another powerhouse in the region, has recently launched a National Biotech Strategy (the Strategy) with an ambition to become MENA’s leading biotech hub by 2030 and a global biotech leader with a far-reaching impact in biomanufacturing and medical innovation by 2040.
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Son faces Saudis, Palestine make history in Asian Cup last 16
The tournament has been whittled down from 24 teams to 16 but trying to predict who lifts the trophy on February 10 looks more difficult than ever. Japan came to Qatar as favourites and looking to win the title for a record-extending fifth time, but they reached the knockout phase as only runners-up in their group behind Iraq. Iraq impressed in deservedly beating Japan 2-1 and along with Iran and Qatar were the only teams to win all three games in the first round. Iraq play Jordan and Iran meet Syria next.
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Saudi Arabia’s AlUla exhibition at the Forbidden City
The exhibition "AlUla, Wonder of Arabia" has kicked off at the Palace Museum in Beijing recently. AlUla is located in the northwestern Saudi Arabia, 1,100 kilometers away from the capital Riyadh. It boasts rich natural and cultural heritage, including the Hegra archaeological site, Saudi Arabia's first UNESCO World Heritage Site. Let's visit the exhibition with Xinhua reporter Sandra Ahmed!
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Saudi’s Seven and Formula E to open karting attractions
Saudi Entertainment Ventures (Seven) has announced its latest partnership, this time with Formula E to launch indoor karting attractions in the kingdom. The Formula E venues will be located in four of Seven’s entertainment destinations across Saudi Arabia, in Riyadh, Jeddah, Dammam and Abha. Each family-friendly attraction will offer adult karts, junior karts, and dual karts, as well as 400-metre-long tracks
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