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  • G20 talks in Rio reach breakthrough on climate finance, sources say

    Diplomatic tensions over global warming spilled over into the G20 summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded U.N. talks in Azerbaijan. Heads of state arrived in Rio de Janeiro on Sunday for the G20 summit and will spend Monday and Tuesday addressing issues from poverty and hunger to the reform of global institutions. The talks must now also grapple with how to address escalating violence in Ukraine after a deadly Russian airstrike on Sunday.

  • Trump’s policies may hit EMs, but Saudi stays safe: Citigroup

    Citigroup analysts anticipate that emerging market stocks will underperform compared to global peers following Donald Trump’s recent victory in the US presidential election, despite China’s recent policy initiatives and global economic growth. The brokerage said in a note on Thursday it expects Trump’s trade policies to be a drag on global growth, while consequent US dollar strength could further pressure emerging market assets. It expects Saudi Arabia and India to be less exposed to trade risks, and upgraded the top oil exporter to “overweight” from “underweight”.

  • Saudi Arabia Crown Prince MBS Cancels Trip to G-20 Summit in Rio

    The most likely reason is that flying more than 14 hours from the Saudi capital Riyadh to the Brazilian city may aggravate a chronic ear canal condition plaguing the 39-year-old widely known as MBS, according to the person, who asked not to be identified because of the sensitive nature of the issue. The Saudi leader has in the past experienced ear blockage and inflammation that has lasted days after making long-distance air trips, the person said. He has previously scrapped foreign trips at the last minute, including a state visit to Japan this year when his ailing 88-year-old father, King Salman bin Abdulaziz, underwent treatment for a lung inflammation.

  • I Spent 10 Days Exploring Saudi Arabia. Here’s Why You’ll Want To Add It To Your Bucket List

    From the moment I landed in Riyadh, I could tell things would be different from what I’ve been told all these years. Yes, women were covered in their traditional abayas, hijabs, and niqabs (and yes, there are differences), but they walked alongside other local women who wore none. Men and women greeted each other and me with kindness and smiles, and the airport alone was filled with all the comforts of home, like Starbucks, Dunkin Donuts, Footlocker, and Bath and Body Works. Driving through the streets, I soaked in the towering office and apartment buildings, sprawling medical complexes, malls, and hotels. I also took note of the ongoing construction, a sign of all that was still yet to come.

  • How Saudi Arabia is helping to drive equitable energy transitions in Africa

    Saudi Arabia has established itself as a leader in this collaboration between countries in the Global South, leveraging its resources, expertise, and strategic partnerships to unlock Africa’s renewable energy potential and shape a more sustainable future. In November last year, Saudi Energy Minister Prince Abdulaziz bin Salman signed groundbreaking memorandums of understanding with five African nations — Ethiopia, Senegal, Chad, Nigeria, and Rwanda.

  • Saudis Resist Restating Fossil Fuel Transition Pledge at COP29

    The disagreement comes at a delicate juncture at COP29 in Azerbaijan. A deal on fossil fuels made it to a final COP agreement for the first time ever last year, with COP28 host United Arab Emirates successfully getting Saudi Arabia and other oil-producing nations on board with a message to “transition away” from fossil fuels in Dubai. A failure to double down on the language agreed in last year’s deal is seen by developed and climate-vulnerable countries as a climbdown.

  • Saudi Arabia’s Public Investment Fund Sold Its Entire Live Nation Stake

    Saudi Arabia’s Public Investment Fund (PIF), the oil-rich country’s sovereign wealth fund, has sold its entire stake in Live Nation, according to an SEC filing dated Thursday (Nov. 14). In April 2020, the $925-billion PIF acquired approximately 12.5 million shares that amounted to a 5.7% stake in Live Nation, making it the fourth-largest shareholder behind Liberty Media, The Vanguard Group and BlackRock. The investment, made through open-market stock purchases, attracted attention partly because the country’s government was still being criticized for the murder of journalist Jamal Khanshoggi at the Saudi consulate in Istanbul in 2019.

  • UFC Return to Saudi Arabia Officially Announced for Feb. 1, 2025

    Riyadh Season is back, and the UFC is likewise set to return to the Kingdom of Saudi Arabia on February 1, 2025. Promotion officials announced next year’s UFC Saudi Arabia card via social media on Saturday. The show will mark the second event from the UFC in the Middle Eastern nation, following UFC on ABC 6 this past June. That card was headlined by Robert Whittaker and Ikram Aliskerov, with the latter filling in for Khamzat Chimaev, who was forced out of the event. February’s return date does not have any fights officially announced for it, though several bouts have been rumored and/or reported, including unconfirmed reports of Shara Bullet facing Michael “Venom” Page.

  • French, Saudi officials meet in Paris to advance AlUla development initiative

    The AlUla Committee, a joint initiative established under an intergovernmental agreement signed in April 2018, is the coordinating body for a range of ambitious projects being carried out by the Kingdom and France. The projects focus on cultural preservation, tourism enhancement, economic growth, and environmental sustainability in Saudi Arabia’s AlUla region. The committee’s mandate includes overseeing the implementation and monitoring of the comprehensive 2018 accord, aimed at fostering broad-based progress in the area.

  • Saudi Arabia Seeks to Balance Relations with Iran and Israel

    The first signs of a thaw came in March 2023, when Iran and Saudi Arabia restored diplomatic relations after more than seven years following a surprise Chinese-brokered agreement. But it was Israel's invasion of Gaza in October 2023 -- soon after the U.S.- and EU-designated Palestinian terrorist group Hamas carried out an unprecedented attack on Israel -- that gave real impetus to Iran-Saudi rapprochement efforts. Since the war erupted, Iran and Israel have traded direct aerial attacks for the first time. The tit-for-tat assaults have brought the region to the brink of a full-blown conflict. Saudi Arabia is "concerned that these escalating tensions between Israel and Iran could spiral out of control and lead to a broader regional conflict that may impact their interests," said Hamidreza Azizi, fellow at the German Institute for International and Security Affairs.