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  • China Energy Engineering signs $972 million solar deal with Saudi partners

    China Energy Engineering (601868.SS), opens new tab signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a Monday filing with the Shanghai Stock Exchange, marking the latest in a string of China-Saudi renewable energy deals. The 2 gigawatt (GW) photovoltaic plant will be built by a joint venture between a China Energy Engineering consortium and Saudi partners sovereign fund PIF, ACWA Power (2082.SE), opens new tab, and Saudi Aramco Power Company.

  • A trove of artifacts from Egypt’s last dynasty has been found in 63 tombs

    A trove of artifacts from Egypt’s last dynasty has been discovered in 63 tombs in the Nile Delta area and experts are working to restore and classify the finds, an official with the country’s antiquities authority said Monday. The artifacts include gold pieces and jewelry dating to Egypt’s Late and Ptolemaic periods, and some items could be displayed at one of the country’s museums, said Neveine el-Arif, spokeswoman for the Ministry of Tourism and Antiquities.

  • Saudi Arabia’s NWC starts implementing water and wastewater infrastructure projects worth $586 m

    Saudi Arabia’s National Water Company (NWC), through its Eastern Cluster, has initiated the implementation of 17 major projects across the Eastern Province of Saudi Arabia, with a total investment exceeding 2.2 billion Saudi Riyals ($586 million). In a press release, the company explains that the projects aim to enhance the region's environmental and water services infrastructure, focusing on wastewater treatment plants, pumping stations, power lines, and network replacements to improve service delivery in various cities and governorates.

  • Saudi Wealth Fund Pumps More Cash Into Two Struggling Startups

    In most cases, these projects have been key to the oil-rich region’s diversification push, meaning the sovereign wealth funds might not be solely focused on the dollars-and-cents aspect of their return on investment. But even on that front, some investors have started to focus on ensuring they’re not throwing good money after bad.

  • Saudi Artist Turns Calligraphy Into Captivating Art With His Stunning Projects

    Based in Riyadh, Al-Sulaimani’s love for calligraffiti started back in school during an Arabic calligraphy class. Captivated by the power of the written word, he started blending this timeless art form with vibrant, graffiti-inspired styles, creating eye-catching and unique masterpieces.

  • Saudi Maaden Doubles Profits in Second Quarter of 2024

    The net profits of the Saudi Arabian Mining Company (Maaden) doubled by approximately 192 percent to one billion riyals ($266 million) during the second quarter of 2024, compared to SAR 350.9 million ($93 million) during the same period last year. In a statement on Tadawul, the company attributed the growth to the increase in total profit by 35 percent to SAR 572 million as a result of the rise in selling prices, the decrease in the cost of raw materials, and depreciation expenses.

  • Saudi Super Cup 2024 Preview: Quartet set for season curtain-raiser

    Exactly 67 days after Al Hilal’s King’s Cup final victory over Al Nassr put the exclamation point on an enthralling 2023-24 Saudi football season, a new campaign begins in the Kingdom on Tuesday with the 11th edition of the Saudi Super Cup. Between 2013 and 2022, the Saudi Super Cup was a one-off match, but this will be the third time in a row it has been run as a four-team tournament, which Al Hilal most recently won just four months ago when the competition was hosted in Abu Dhabi. The 2024 Saudi Super Cup returns to its position as season curtain-raiser in August for the first time since 2018, when Al Hilal beat Al Ittihad.

  • Saudi Arabia’s startup appeal spans across diverse sectors

    The Saudi fintech sector has seen its fair share of new entrants during the first quarter of the year, with US-based MoneyHash being the most recent mover. Established in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash has set its sights on the Saudi market following a successful $4.5 million seed funding round in February.

  • Adidas launches its partnership with Al-Nasr Saudi Club with an advertisement inspired by the game (Roblox)

    Adidas launched today the new kits of the Saudi Al-Nasr Club, according to the partnership signed between the two parties last February, which will last for three years, to become the global company’s sportswear brand, the official partner of the club starting from the 2024/2025 season, as “Adidas” will provide all teams and employees under the umbrella of Al-Nasr with the official uniform.

  • Houthi presence in region in focus after ‘martyrdom’ of senior commander in Iraq

    A senior commander of Yemen’s Ansarullah movement, better known as the Houthis, is claimed to have been killed in a US airstrike in Iraq. The apparent incident has fueled speculation about the Houthis expanding their role in the Iran-led ‘Axis of Resistance’ and pursuing horizontal integration with other members of the regional alliance network . As the region braces for an escalation in the confrontation between the ‘Axis of Resistance’ and Israel, the role of the Houthis in the equation is gaining increasing attention.