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  • BlackRock to launch PIF-backed Saudi investment platform

    The world's largest asset manager BlackRock (BLK.N), opens new tab said on Tuesday it plans to launch a new investment platform in Saudi Arabia, backed by up to $5 billion from Saudi sovereign wealth fund the Public Investment Fund (PIF).
    BlackRock and PIF said they had signed a memorandum of understanding under which BlackRock would establish a Riyadh-based multi-asset investment platform, anchored by PIF's initial cash injection, subject to certain agreed milestones being hit.

  • Entertainment industry playing a lead role in Saudi transformation

    The entertainment industry in Saudi Arabia has seen a serious boost in recent years as the country continues on its course to becoming a hub for leisure – and overall a place for the wealthy to spend big. Consumer spending in entertainment is expected to reach $5 trillion by 2028, according to a report from Redseer Strategy Consultants.

  • Saudi Arabia activist sentenced to 11 years in prison for ‘support’ of women’s rights

    Saudi officials confirmed in a statement to the United Nations high commissioner for human rights that Manahel al-Otaibi was sentenced on 9 January for what the Saudi government called “terrorist offences”.

    Al-Otaibi, who was sentenced in a secret hearing before the counter-terrorism court, was found guilty of charges related to a Saudi anti-terror law that criminalises the use of websites to “broadcasts or publishes news, statements, false or malicious rumors, or the like for committing a terrorist crime”.

  • Food-poisoning patients released from intensive care, 25 discharged from Riyadh hospital

    More than half of the patients who contracted food poisoning caused by the clostridium botulinum bacteria last Thursday were released from intensive care and 25 discharged from a local hospital, the Ministry of Health reported on X. The ministry’s spokesperson Dr. Mohammed Khalid Alabdulaali confirmed that the only source of the contaminated food was from the local Hamburgini fast-food restaurant chain.

  • Police arrest dozens of pro-Palestinian protesters at Columbia University

    New York City police arrested dozens of pro-Palestinian demonstrators holed-up in an academic building on Columbia University campus late on Tuesday and removed a protest encampment the Ivy League school had sought to dismantle for nearly two weeks.
    Shortly after police moved in, Columbia University President Minouche Shafik released a letter in which she requested police stay on campus until at least May 17 - two days after graduation - "to maintain order and ensure that encampments are not re-established."

  • In Israel, Blinken set to push Netanyahu for sustained aid into Gaza

    U.S. Secretary of State Antony Blinken met Israeli Prime Minister Benjamin Netanyahu on Wednesday, pushing to get more aid into Gaza, while urging Hamas to accept a deal that would halt fighting in the enclave and bring Israeli hostages home.
    Following visits to Riyadh and Amman earlier this week, the top U.S. diplomat is now in Israel for a series of meetings on the final stop of his Middle East tour.

  • Biden is facing political pressure to make gas more expensive

    Cheap gas is becoming politically expensive for President Joe Biden during a challenging election year. Pressure is building on Biden to ramp up sanctions enforcement against Russia, Iran, and Venezuela, Bloomberg reports — three major oil producers whose supplies have tamped down rising crude prices despite OPEC production cuts and a U.S. production glut.

  • SecDef: I haven’t seen a full Israeli plan to protect civilians in Rafah

    U.S. officials have “not seen a number of things that we believe that will have to happen” for the operation to proceed, Secretary Lloyd Austin told a House Armed Services Committee hearing. There are “some signs" of such preparations, Austin said, but he wants more assurances and planning, such as “making provisions for the civilians [so that] wherever you direct them to, you have sustainment in that area…so, you know, that the housing, the medical care, all that stuff that, that needs to be in place.”

  • US, Britain urge Hamas to accept Israeli truce proposal

    U.S. Secretary of State Antony Blinken on Monday urged Hamas to swiftly accept an Israeli proposal for a truce in the Gaza war and the release of Israeli hostages held by the Palestinian militant group.
    Hamas negotiators were expected to meet Qatari and Egyptian mediators in Cairo on Monday to deliver a response to the phased truce proposal which Israel presented at the weekend.
    "Hamas has before it a proposal that is extraordinarily, extraordinarily generous on the part of Israel," Blinken said at a meeting of the World Economic Forum in the Saudi capital Riyadh.

  • ‘Let’s help Yemen regain ability to chart its own future,’ US envoy Tim Lenderking tells Arab News

    “The onus (is) on the Houthis to stop the Red Sea attacks,” he said. “That can prompt us all to begin to dial back, to de-escalate, to return the situation in Yemen to where it was on Oct. 6, which had considerably more promise and possibility than what exists now, and that’s where we want to return the focus.”