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  • Saudi money in golf: Tiger Woods is now saying what once made Phil Mickelson persona non grata

    Wednesday afternoon, hours before his return to the PGA Tour, Tiger Woods sat before a bank of microphones and uttered a line that would have lit the golf world on fire just a couple years ago. “Ultimately,” Woods said, “we would like to have PIF be a part of our tour and a part of our product.” “PIF” is the Public Investment Fund of Saudi ­Arabia, the source and driving force of golf’s current bone-deep schism.

  • Kuwait Emir dissolves parliament – KUNA

    Kuwait's emir Sheikh Meshal al-Ahmad al-Sabah issued a decree on Thursday to dissolve the parliament, state news agency KUNA reported. The Emiri decree was based on the assembly's "violation of the constitutional principles", KUNA added. The legislature in Kuwait wields more influence than similar bodies in other Gulf monarchies, and political deadlock has for decades led to cabinet reshuffles and dissolutions of parliament.

  • Red Sea Attacks Foster Arab-Israeli Trade Link by Land

    Houthi drone and missile attacks on Red Sea shipping have spurred the development of an alternative “land bridge” to carry cargo by truck from the Persian Gulf across Saudi Arabia and Jordan to Israel and Egypt. The project, which is already seeing dozens of trucks per day reach the Israeli port of Haifa, is seen as an early benefit of the 2020 Abraham Accords normalizing ties between the United Arab Emirates and Israel. It bodes well for future cooperation between Israel and Saudi Arabia. The United States is seeking to broker a deal that would see the normalization of relations between those two countries in exchange for the establishment of a Palestinian state.

  • Saudi Arabia Lures Big Law Firms to Lucrative New Legal Market

    At least 30 multinational law firms have opened branches in Saudi Arabia in the past nine months or have applied for the right to do so, racing to establish a foothold in the oil-rich kingdom now allowing outside legal work. Several had affiliations with Saudi-based firms since the early 2000s, but for the first time were allowed to create their own practices in the country without the constraints of a local partner. Others are entering the marketplace for the first time.

  • Saudi Treasury Holdings Hit Highest Level in Nearly Three Years

    Saudi Arabia added nearly $4 billion to its US Treasury holdings by the end of last year, taking its stockpile to the highest level since early 2021. The amount stood at nearly $132 billion in December, according to the latest figures from the Treasury Department. Other top US government debt holders, including China and Germany, also increased holdings in the world’s safest asset, potentially taking advantage of attractive yields.

  • Saudi Arabia enters table tennis with WTT Grand Smash event

    World Table Tennis (WTT), the commercial arm of the International Table Tennis Federation (ITTF), has announced that Saudi Arabia will host a WTT Grand Smash from 2024 onwards, marking the first time a professional table tennis event will be held in the kingdom. The inaugural Saudi Smash will take place from 4th to 11th May at the King Abdullah Sports City in Jeddah. The city has already hosted Formula One, the Fifa Club World Cup, ATP NextGen tennis, sailing’s America’s Cup Preliminary Regatta, and world heavyweight boxing.

  • Stage set for Season 4 Extreme E opener in Saudi Arabia

    The fourth instalment of Extreme E is almost upon us, with the 2024 campaign opening in Saudi Arabia this weekend (17-18 February). There are new teams and new line-ups joining the fray in Season 4, along with plenty of familiar faces, as the pioneering all-electric off-road racing series returns to action for the Desert X Prix. The deserts of Saudi Arabia have launched each of the three previous Extreme E campaigns, all offering astonishing backdrops for the opening rounds of the championship season, and another special event can be expected for Rounds 1 and 2 of the 2024 campaign in Jeddah.

  • Crypto Market Value Climbs Back Above $2 Trillion Amid (BTC) Bitcoin Rally

    Bitcoin hovered around $52,000 after a broad cryptocurrency rally that saw Ether, the second-biggest token, advance back to where it was before the TerraUSD stablecoin collapsed almost two years ago. Bitcoin’s almost 25% year-to-date gain has helped to lift the market capitalization of digital assets above $2 trillion for the first time since April 2022, data from CoinGecko show. Bitcoin and Ether were up more than 2% at one point on Thursday in New York, with the latter changing hands at $2,852 as of 9:59 a.m.

  • Saudi Arabia to monitor sustainability strategy from space

    Saudi Arabia is looking to tap into the Earth observation market for enhanced environmental monitoring across the kingdom, a Saudi space official has said. The efforts would help the country track the impact of its Green Initiative, a plan to plant 10 billion trees in the coming years, is having on the kingdom's weather and if it is helping to fight climate change. Mishaal Ashemimry, adviser to the chief executive of the Saudi Space Agency, told The National the kingdom was looking to build assets in space and details, including how many satellites would feature in the plan, would be released in a new space strategy at a later date.

  • Ronaldo gives Al-Nassr the edge in Asian CL last 16

    Cristiano Ronaldo broke Al-Fayha's resistance nine minutes from time to give Al-Nassr a 1-0 win over fellow Saudi Pro League side in the first leg of their Asian Champions League last 16 clash in Riyadh on Wednesday. The former Real Madrid and Manchester United forward ended a frustrating evening for Luis Castro's side when he latched onto a lofted return pass from Marcelo Brozovic to volley past the Vladimir Stojkovic and earn Al-Nassr victory.