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At Davos, Kingdom Pushes Diplomacy and PIF Talks 2024 Investment Strategy
Saudi Arabia’s strong presence at the World Economic Forum in Davos, Switzerland is emblematic of an increasingly confident Kingdom on the global stage, with top officials from both the government and Saudi Arabia’s Public Investment Fund on the ground to promote Saudi Arabia’s interests.
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New Mega Mountain Resort Aquellum, a ‘Subterranean Digitalized Community of the Future,’ Added to NEOM’s Growing Vacation Destination Offerings
NEOM has announced Aquellum, a new “luxury and experiential” vacation destination which is the latest addition to the ongoing regional development in northwest Saudi Arabia.
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The 966 Episode 117: Saudis are optimistic, but what does 2024 have in store for Saudi Arabia and the Middle East?
The 966 hosts kick off the new year after a refreshing holiday break following a successful year for the podcast in which the growth of the audience more than doubled across all platforms, and in some cases, grew significantly more than that! The team thanks all of its listeners and viewers for tuning in each […]
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United States Breaks Ground on New Embassy Compound on 27.5-Acre Site in Riyadh
The United States has officially broken ground on its new embassy project in Saudi Arabia’s capital Riyadh, a sprawling new building blending traditional and modern architecture on a 27.5 acre site. When completed, it will be the largest embassy in Riyadh.
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Al-Falih Says Vision 2030’s Impact on Saudi Economy is Visible in 66% Increase in GDP
Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
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Saudi Arabia Launches Separate Real Estate Registry, Indicators Platforms – Report
Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority Majid al-Hogail launched on Monday the Real Estate Registry platform and the Real Estate Indicators platform on the sidelines of the Saudi Proptech Summit, according to a report in the Saudi-owned Asharq Alawsat.
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Goldman Sachs Research Report Highlights Saudi Investment to Transform Economy, Says Efforts are Showing Results
Saudi Arabia’s focus on diversifying its economy beyond oil is showing results, according to a recent report from Goldman Sachs Research.
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Saudi Arabia’a Allocating $267 Million to Intellectual Property Strategy, a Sign That Kingdom is ‘Prioritizing a Knowledge-Based Economy’
The allocation of $267 million to the Intellectual Property Strategy is a signal that Saudi Arabia is “prioritizing a knowledge-based economy,” according to an item in the International Intellectual Property Law Association website.
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Lucid Opens First-Ever Auto Plant in Saudi Arabia
Lucid has opened the first ever car manufacturing plant in Saudi Arabia at the King Abdullah Economic City as the kingdom looks to establish itself as a global player in the EV race.
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Marriott International Signs Agreement with NEOM to Open Two Luxury Properties in Trojena
Marriott International, Inc. announced it has signed an agreement with NEOM to open two luxury properties in Trojena, NEOM’s mountain destination located in the north-west region of Saudi Arabia. The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott property, according to a press release.
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MUST-READS
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Saudi Arabia Integrates AI Technology to Enhance Visitor Guidance at Grand Mosque
A total of 52 screens, spanning 279 square meters, have been placed inside and outside the mosque to offer personalized guidance content for pilgrims. This approach utilizes the expertise of a specialized team, comprising scholars well-versed in religious and guidance aspects. The team curates bespoke content for specific occasions, ensuring the information is timely and relevant for the needs of visitors.
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Saudi Arabia Is Interested in Small Nuclear Reactor Technology
Saudi Arabia said it’s interested in studying technology for small modular nuclear reactors, as the Middle East’s largest oil producer looks to diversify its energy sources and generate cleaner power for domestic use and export. The kingdom is “a late-comer” to nuclear power and aims to study all types and applications of atomic generation, Prince Abdulaziz bin Salman, the Saudi energy minister, said Sunday at a climate conference in the capital, Riyadh. Saudi Arabia has been building a test reactor and is seeking US assistance as it looks to develop a nuclear program.
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Saudi Arabia Is Interested in Small Nuclear Reactor Technology
The kingdom is “a late-comer” to nuclear power and aims to study all types and applications of atomic generation, Prince Abdulaziz bin Salman, the Saudi energy minister, said Sunday at a climate conference in the capital, Riyadh. Saudi Arabia has been building a test reactor and is seeking US assistance as it looks to develop a nuclear program.
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Maritime industry explores nuclear power for ships as technology opens up
The maritime industry is exploring whether nuclear fuel can be used to power commercial ships as advancements in technology open up such options, industry officials said. Nevertheless, any possible nuclear fuel solutions for ships are at least 10 years away they added. Shipping accounts for nearly 3% of global CO2 emissions and the industry is under pressure from investors and environmentalists to find cleaner fuel solutions, which include ammonia, methanol and wind.
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Carbon Capture Technology Is Running Out of Time to Prove Itself
Carbon capture and storage is one of the most contentious solutions in the drive to cut greenhouse gas emissions. In the last three decades, according to BloombergNEF data, governments and corporations have poured over $83 billion into projects. Last year the technology captured just 0.1% of global emissions.
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American Airlines demonstrated contrail-reducing technology
The science of contrail control began in the 1940s, with efforts to build stealthier military aircraft, but by the 1990s scientists had realized that cirrus clouds play a heating role in the atmosphere—and cirrus clouds are similar to (and indeed can be seeded by) aircraft contrails. Last year, the Intergovernmental Panel on Climate Change (IPCC) estimated that contrails represent about 35% of the aviation industry’s contribution to global warming.
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Chinese Solar Firm GCL Technology Eyes Saudi Arabia for First Overseas Plant
China-based solar sector supplier GCL Technology Holdings Ltd. is in advanced talks with Saudi Arabia about opening its first overseas factory as the nations aim to extend their energy ties beyond oil. The world’s second-largest manufacturer of polysilicon, a key ingredient in solar panels, is looking to build a plant in the Middle Eastern nation which would produce 120,000 tons a year, Joint Chief Executive Officer Lan Tianshi said in an interview. GCL Tech could start operations as early as 2025, he said.
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Accelerating Saudi Arabia’s biotechnology sector: Four enablers to support a Saudi biotech hub
A productive biotech ecosystem can contribute to significant economic diversification in Saudi Arabia and support the ambitions of Saudi Vision 2030. It is also an essential missing piece in tackling Saudi Arabia’s issues in healthcare, food security, and other strategic interests. As a G20 economy, Saudi Arabia must undergo rapid biotech transformation in the coming years. These initiatives and enablers can help the country accelerate the pace of innovation and reap exponential benefits to solidify its status as a beacon for the region and the world.
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Brazil and Saudi Arabia eye joint ventures, technology transfers
Brazilian and Saudi defense companies have signed a memorandum of understanding that could lead to joint ventures and technology-sharing agreements. The Saudi businesses involved in the potential effort are Scopa Defense and Alqahtani Holding, and the Brazilian firms are weapon manufacturer Taurus, rocket and missile maker Avibras, aircraft battery producer Ocellott, and aviation specialist Avionics Services, according to the Brazilian industry association FIESP.
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Iran says it has technology to build supersonic missiles amid US tensions
Iran has obtained supersonic cruise missile technology, state media have said amid rising tensions with the United States over military deployments in the region. The missiles are now undergoing tests and “will mark the beginning of a new chapter in the defence power of our country”, the state-linked Tasnim news website reported on Wednesday.
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