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  • Saudi Arabia set to be biggest gainer from artificial intelligence in Middle East by 2030: PwC 

    A report from the company noted that AI could add $320 billion to the region’s economy, equivalent to 11 percent of gross domestic product. Amid the government’s massive push for digitization and future technology, Saudi Arabia will see AI’s contribution to GDP rise to 12.4 percent in 2030. In terms of average annual growth in the contribution of AI by region, Saudi Arabia is expected to slice off a 31.3 percent share in the technology’s expansion between 2018 to 2030, the PwC report noted.

  • Analysis: Hydrogen Is the Future—or a Complete Mirage

    Ideally, the approach should be piecemeal and stepwise, and in this regard the crucial thing to note about hydrogen is that to regard it as a futuristic fantasy is itself misguided. We already live in a hydrogen-based world. Two key sectors of modern industry could not operate without it. Oil refining relies on hydrogen, as does the production of fertilizer by the Haber-Bosch process on which we depend for roughly half of our food production. These two sectors generate the bulk of the demand for the masses of hydrogen we currently consume.

  • Saudi Arabia and Japan to co-operate on crude exports and clean hydrogen

    Saudi Arabia, the world’s largest oil exporter, will continue its co-operation with Japan in areas such as crude exports and clean hydrogen, the kingdom’s energy minister has said. Prince Abdulaziz bin Salman said that Saudi Arabia, which is responsible for 40 per cent of Japan’s oil imports, will ensure the security of supplies to the energy-starved Asian country, the official Saudi Press Agency reported on Sunday. The minister also emphasised the need for joint co-operation between the two countries in the field of clean hydrogen and its applications, in addition to developing the infrastructure for “circular carbon economy” applications.

  • China’s frail Q2 GDP growth raises urgency for more policy support

    China's economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with the post-COVID momentum faltering rapidly and raising pressure on policymakers to deliver more stimulus to shore up activity. Chinese authorities face a daunting task in trying to keep the economic recovery on track and putting a lid on unemployment, as any aggressive stimulus could fuel debt risks and structural distortions.

  • Greek gas grid eyes 1-billion euro hydrogen pipeline

    Greek gas grid operator DESFA wants to build a 1 billion euro ($1.12 billion) hydrogen pipeline that will connect Greece to Bulgaria, as part of a future European southeastern corridor, it said on Thursday. The scheme, jointly proposed with Bulgaria, has passed an initial technical assessment by the European Commission, making it eligible for inclusion in a European list of projects of common interest, DESFA said in a presentation released on Thursday. This puts "Greece, Spain and Italy at the same level with respect to the potential for the future role that these Mediterranean countries will play in providing infrastructure for hydrogen," DESFA Chief Executive Maria Rita Galli told a news conference.

  • Saudi transformation on show at Geneva forum

    During a Saudi Day organized at the forum, the SAIP presented “Story of a Nation,” which highlighted historical, civilizational and cultural development of the Kingdom over the years. Attendees witnessed the Kingdom’s recent developments in construction, education, health, industry, economy, arts, sports, culture and public life in line with Saudi Vision 2030.

  • Engie and Saudi Arabia’s PIF sign agreement to develop hydrogen projects in the kingdom

    The deal will “contribute to driving the energy transition in the kingdom and achieving its aspirations and goals in the green hydrogen sector”, said Frederic Claux, managing director for Flexible Generation and Retail, Amea at Engie.

  • US intelligence assessment says Iran not currently developing nuclear weapons

    A U.S. intelligence assessment says Iran is not pursuing nuclear weapons at the moment but has ramped up activities that could help it develop them. The assessment from the Office of the Director of National Intelligence released Monday says Iran has moved to increase its capacity to produce an atomic bomb since 2020 but has stopped short of that so far. The findings corresponded with previous U.S. assessments about Iran’s nuclear program, although many in Congress and elsewhere have been skeptical of those.

  • How are consumers and agencies changing in Saudi Arabia?

    Clients in Saudi Arabia are embracing digital transformation and looking for innovative technological solutions. This leads to demand for advanced digital platforms, mobile applications, e-commerce solutions and online service delivery. Additionally, clients are interested in emerging technologies such as AI, blockchain, and the Internet of Things (IoT) to enhance their daily lives and business operations.

  • France and Saudi Arabia to cooperate on hydrogen and electricity development from renewable resources

    Both countries have decided to join forces in the search for innovative solutions to produce hydrogen in the most effective and competitive way, and to develop its use in industry, mobility, power generation, buildings and other relevant applications. To facilitate this cooperation, a ‘French-Saudi Task-Force’ will be established with the goal of achieving mutually beneficial outcomes in the field of hydrogen and other related domains.