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  • Saudi summer entertainment to enthrall 16 cities

    A major entertainment calendar is due to kick off this week in Saudi Arabia, covering 16 cities across the kingdom where the entertainment industry is experiencing an unprecedented boom. The “Kingdom’s Tour 2023” will take place in the cities of Riyadh, Dammam, the Northern Borders, Hafr Al Batin, Tabuk, H’ail, Al Qassim, Al Ihsa, Al Kharj, Wadi Al Dawasir, Jeddah, Taif, Al Namas, Al Baha, Jizan and Abha.

  • Commentary: Can US rail plan woo Middle East states away from China’s belt and road?

    Reaction to the US infrastructure plan from the media in India - an opponent of China's belt and road vision - was positive, but analysts said the Middle Eastern countries were likely to be wary of a partnership with the US while the project's financing was unclear. The UAE did not release a statement after the Sullivan meeting, while Saudi Arabia's output did not touch on the infrastructure project. Both countries are participants in the belt and road.

  • Saudi Arabia’s banking sector set for further gains

    The market assessment by Boston Consulting Group found that banking revenue hit SAR 57 billion last year, up from SAR 50 billion the year previous. While operating expenses did rise as well, they grew at a (much) slower pace than revenue, leading to a profit windfall. Combined, Saudi’s banks recorded a 14% rise in profits compared to the previous 12 months. The researchers note that profits after taxes in the Kingdom have grown at an average of 7.9% CAGR per year since 2016 – although there are huge variations within that time frame due to global events such as the pandemic.

  • Alstom plans to trial hydrogen train in Saudi Arabia this year – top official

    Salama underlined that Alstom's hydrogen train is a "proven technology" with commercial services underway in Germany (since 2018). He also disclosed that commercial operations would begin soon in Italy, France and Denmark. The Alstom executive highlighted the expected increase in hydrogen availability in the region as more projects are launched. "There is a green hydrogen project underway in the UAE and another in NEOM. Oman and Qatar are also exploring hydrogen projects, so it will likely be available in most countries very soon," he said.

  • Russia’s sanctioned interior minister visits Saudi Arabia just after trip by Ukraine’s Zelenskyy

    Russian Interior Minister Vladimir Kolokoltsev’s visit to Riyadh came just days after Ukrainian President Volodymyr Zelenskyy addressed an Arab League summit held in Saudi Arabia’s Red Sea port city of Jeddah on Friday. The visits underline how the kingdom and Gulf Arab states, traditionally the security clients of the United States, have been maintaining their relations with Moscow amid the Ukraine war.

  • Bahrain to restore diplomatic relations with Lebanon

    Bahrain and Lebanon are to restore diplomatic relations after a year-and-a-half break prompted by a spat over the conflict in Yemen. Bahrain and other Gulf countries followed Saudi Arabia in recalling their diplomats towards the end of 2021 after a Lebanese minister criticised Riyadh's military intervention in the war in Yemen. Manama, a staunch ally of Riyadh, also called on its citizens in Lebanon to leave the country.

  • Saudi to launch 24 theme parks and 420 entertainment centers by 2030

    Saudi Arabia‘s leisure market holds significant growth potential with a sea of mega tourism and entertainment developments being announced including setting up of over 24 theme parks and 420 entertainment centres as well as the creation of over 35 entertainment-based venues. A major gathering of the entertainment and leisure industry in the Middle East, SEA will run from May 28 to 30 at Riyadh’s International Convention Centre.

  • Watch: Hailstorm wreaks havoc in Saudi Arabia’ Asir region

    A hailstorm wreaked havoc in Saudi Arabia’s Khamis Mushait governorate in the Asir region on Friday. Vehicles were submerged, and roads were blocked by hail, resulting in severe disruption to local traffic. Videos circulated on social media depicted the aftermath of the unusual weather event.

  • Can US rail plan woo Middle East states away from China’s belt and road?

    Israel did not send a representative to the Saudi Arabia discussions, but could be added to the infrastructure initiative if relations normalise in the region, according to the Axios sources. Riyadh and Tel Aviv do not have diplomatic ties. Chas Freeman, a former US ambassador to Saudi Arabia, described the plan as “a fantasy foreign policy” rather than a serious infrastructure initiative and said its main goal was to “cement Israeli ties with the Gulf Arabs”.

  • Alstom plans to trial hydrogen train in Saudi Arabia this year – top official

    Alstom, the France-based global rail transportation giant, is planning to introduce its hydrogen train to Saudi Arabia this year, according to a senior company official. Alstom's GCC Managing Director Tamer Salama told Zawya Projects that the company is in talks to bring its hydrogen train to the Kingdom before the year's end.