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  • Saudi Arabia Announces Transformative 3.6 GW Power Projects in Partnership with SEC, ACWA Power, and KEPCO

    Saudi Electricity Company (SEC), ACWA Power, and Korea Electric Power Corporation (KEPCO) have signed Power Purchase Agreements (PPAs) with the Saudi Power Procurement Company (SPPC) for two major power generation projects: Rumah 1 and Nairyah 1. With a combined capacity of 3.6 GW, these Independent Power Plant (IPP) projects represent a significant step in advancing Saudi Arabia’s sustainable energy goals. The projects, with an estimated investment of SAR 15 billion (USD 4 billion), will deploy advanced Combined Cycle Gas Turbine (CCGT) technology to transition from oil-based power generation to cleaner, more efficient methods. This shift is expected to reduce carbon emissions, enhance environmental sustainability, and drive economic growth by creating job opportunities and boosting local content.

  • Diriyah announces multi-billion-dollar art and culture districts as part of $63bn project

    The Qurain Cultural District is set to become a vibrant global hub where culture meets modern urban living. It will offer a diverse range of arts, retail, office, and residential spaces for people to live, work, shop local brands, and enjoy local dining experiences. Its cultural offerings will include a cinema, museums, and several academies focused on writing, traditional Najdi architecture and mud building, Arabic music, culinary arts, performing arts, and theatre. The district will feature 19 mixed-use buildings, including office, retail, and residences, 10 of which have various boutique office options, and a wide range of retail space and dining venues.

  • Saudi Arabia announces $4bn railway investment plan

    Saudi Arabia Railways (SAR) launched a program in collaboration with the Local Content and Government Procurement Authority (LCGPA) that aims to support the development of the railway industry within the country by ensuring business continuity and contributing to economic growth through the localization of railway manufacturing. The program, launched by Minister of Transport and Logistic Services Eng. Saleh Al Jasser during his patronage of the opening ceremony of the Saudi Rail Conference and Exhibition in Riyadh, offers investment opportunities for local suppliers and manufacturers to enhance local content and promote economic diversification.

  • ICC issues arrest warrants for Israel’s Netanyahu, Gallant and Hamas leader

    The International Criminal Court issued arrest warrants on Thursday for Israeli Prime Minister Benjamin Netanyahu and his former defence chief, as well as a Hamas leader, Ibrahim Al-Masri, for alleged war crimes and crimes against humanity in the Gaza conflict. In their decision, the ICC judges said there were reasonable grounds to believe Netanyahu and Yoav Gallant were criminally responsible for acts including murder, persecution and starvation as a weapon of war as part of a "widespread and systematic attack against the civilian population of Gaza".

  • Pakistani town in uproar after 40 Shi’ites gunned down in bus convoy

    Angry crowds gathered in the remote Pakistani mountain town of Parachinar on Friday, incensed by an attack on an escorted convoy of buses in which 40 Shi'ite Muslims died after being sprayed with automatic fire in an ambush. The Parachinar district, on Pakistan's northwestern border with Afghanistan, has frequently experienced violence between its Sunni and Shi'ite Muslim communities over land and power. Travellers to and from the town ride in convoys escorted by security officials.

  • Saudi wealth fund’s expansion into North American soccer raises questions

    Concacaf, the confederation that includes nations from North and Central America and the Caribbean, announced its partnership with the Saudi sovereign wealth fund in August claiming Saudi Arabia’s investment will “increase the number of youth tournaments and community programs it manages in its region”. The 2026 World Cup will be co-hosted by Concacaf members the United States, Canada and Mexico. The deal between Concacaf and PIF, however, has drawn criticism from a leading non-governmental organization that claims Concacaf has ignored Fifa’s statutory human rights requirements in approving the deal.

  • India Is ‘On Our Radar’ for 2025, Says CEO of Saudi’s Flyadeal

    “The [Saudi] market is very immature at the moment – that isn’t a criticism, it’s just a fact. We aren’t Western Europe, we’re not North America – there’s a lot of catching up to do,” said the chief executive. Flyadeal is currently growing at around 10-15% per year – a trajectory that is due to continue until the end of the decade. When Greenway joined the airline in January, around 80% of flyadeal’s network capacity was domestic. That figure is due to shift closer to 50-50 over the coming years. The airline will continue to grow domestically – likely rising from 19 to 25 Saudi destinations – but “the bulk of the growth” will be international.

  • Saudi Arabia localizes 19.35% of military spending: GAMI governer

    Al-Ohali highlighted the growth in licensed entities in the military industries sector, which now number 296 as of Q3 2024. He also emphasized the development of local supply chains and procurement, noting that SR13 billion ($3.4 billion) has been allocated to domestic companies for projects such as unmanned aerial vehicles (UAVs), rapid interceptor boats, and the maintenance of defense systems. Local content development is a cornerstone of Saudi Vision 2030, Al-Ohali stated, with the military sector achieving a local content rate of 38%. The sector’s contribution to GDP is estimated at SR5 billion ($1.3 billion).

  • Saudi Arbitration Law Series: Modernization and Global Alignment

    The Saudi Arbitration Law, issued by Royal Decree No. M/34 on 16 April 2012 and effective from 8 July 2012, represents a major reform in Saudi Arabia's arbitration framework. The law reflects the Kingdom's efforts to modernize its approach to commercial dispute resolution by aligning with international standards while maintaining its unique legal traditions rooted in Shari'a principles. This article provides an overview of these significant changes and their impact on businesses and investors operating within Saudi Arabia.

  • Saudi Aramco CFO Driven Off Stage by Climate Protesters in US

    Climate protesters disrupted an MIT event with Saudi Arabian Oil Co. Chief Financial Officer Ziad Al-Murshed in a Boston suburb on Thursday, causing the executive to leave. About 15 people rushed onto the stage while Al-Murshed was speaking, waving posters with “murderer” written on them and chanting phrases such as “no more drilling rigs.” Al-Murshed, a Massachusetts Institute of Technology alumnus, exited the room and didn’t return. The organizers of the event, the MIT Sloan CFO Summit, said in a statement that “in abundance of caution, the decision was made to end the talk.” The incident is under investigation by the police, the statement said.