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  • Mixed martial arts investment latest example of Saudi Arabia’s foray into global sports

    Georgetown University-Qatar visiting associate professor Danyel Reiche, an expert on sports and politics in the Middle East, said countries that try to use sports to improve their global standing can make up only so much ground. In Saudi Arabia’s case, its extensive spending is more about attracting major events to that country. The 2034 Asian Games already are scheduled to take place there.

  • Noor Riyadh 2023, the annual festival of light and art in Saudi Arabia, announces dates and themes for its third edition

    Noor Riyadh Festival returns for its third edition, which will feature over 120 artworks by more than 100 artists across five hubs in the capital of Saudi Arabia, from November 30 to December 16 The festival features local and international artists and offers diverse workshops, thought-provoking seminars, and stimulating artistic discussions.

  • Red Sea Global Partners With EDF And Masdar For 25-Year Solar-Powered Amaala Project In Saudi Arabia

    Red Sea Global (RSG), the developer behind Amaala and The Red Sea, has partnered with French utility firm EDF and clean energy company Masdar to establish a 25-year concession agreement for a multi-utilities infrastructure facility serving the Amaala destination. Similar to The Red Sea, Amaala will rely entirely on solar energy, reducing CO2 emissions by nearly half a million tons annually.

  • Saudi Arabia participates in international conference on combating sand storms held in Tehran

    Saudi Arabia participated on Monday in the International Conference on Combating Sand and Dust Storms held in Tehran, where it discussed it Sand and Dust Storm Warning Regional Center. CEO of the Saudi National Center of Meteorology, Ayman bin Salem Ghulam, stressed the kingdom’s efforts to mitigate climate change and combat sand and dust storms, citing the Saudi Green Initiative, introduced by the Crown Prince in March 2021, which is designed to tackle both local and global environmental challenges. The Middle East Initiative aims to plant 50,000,000,000 trees, which is equivalent to five percent of the global afforestation target.

  • IMF Executive Board Concludes 2023 Article IV Consultation with Saudi Arabia

    Saudi Arabia was the fastest growing G20 economy in 2022. Overall growth reached 8.7 percent, reflecting both strong oil production and a 4.8 percent non-oil GDP growth driven by robust private consumption and non-oil private investment, including giga projects. Wholesale, retail trade, construction, and transport were the main drivers of non-oil growth. The output gap is estimated to have closed during 2022, with the non-oil growth momentum continuing in 2023.

  • Tech Titans of Saudi Arabia: Top 5 Startups

    In recent years, Saudi Arabia has truly transformed by becoming a hub of innovation and investment, largely driven by the wave of startups. If we look at the numbers, Statista predicts that Saudi businesses are on track for big things. The market is projected to hit a whopping US$28.98 million by 2027, with a solid yearly growth rate of 9.78% from 2022 to 2027. This exponential growth signifies not only the expanding opportunities for startups but also the increased confidence of investors in Saudi Arabia’s potential.

  • Orange to build out smart city platform in Saudi Arabia

    Orange Business has signed a deal with the King Abdullah Financial District Development and Management Company (KAFD DMC) to design, build and run a new end-to-end smart city platform. The work will involve connecting up some existing digital technologies at Saudi Arabia’s KAFD business district, while plugging in some additional AI and data analytics. Orange Business will also provide a range of ‘Digital Master Systems Integration’ services and orchestrate its partner ecosystem – by which it presumably means draft in some additional firms to facilitate the build.

  • Red Sea Global partners with Alula to drive collaboration in Saudi Arabian tourism sector

    Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has entered a new strategic partnership with the Royal Commission for Alula (RCU). RCU is the organization responsible for preserving the heritage-rich area of Alula in the northwest of the Kingdom. The partnership intends to accelerate Saudi Arabia’s growth as an internationally in-demand location for both tourists and investors, supporting both organizations in their ambition to set new global standards in responsible development and fulfil their roles as cornerstones of Vision 2030, the strategic framework to diversify the Kingdom’s economy in sectors including tourism.

  • UEFA President rules out Saudi Arabia clubs’ participation in UEFA competitions

    The UEFA President talked to the French press about rumours that Saudi Arabian clubs could participate in the Champions League in upcoming editions. “A media outlet talked about this, without even asking us,” Ceferin said, adding that “only European clubs can participate in the Champions League, Europa League and Conference League.”

  • Saudi Arabia Investment Is Increasing In US-Based Startups

    Earlier this month, U.S.-based networking startup Nile announced a large $175 million Series C co-led by March Capital and Saudi Arabia sovereign wealth fund Sanabil Investments. That was followed this week by Houston-based Axiom Space locking up a $350 million round led by Saudi Arabia’s Aljazira Capital — its first investment in a U.S.-based startup, per Crunchbase data — and Korean health care company Boryung Pharmaceutical. Although the two rounds may not seem to have much in common, they do share something — they illustrate the growing appetite Saudi Arabia-based investors have in U.S. startups.