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  • Saudi Arabia is not abandoning upstream investment

    Saudi Arabia’s recent announcement of shelving plans to boost its oil production capacity to 13 million barrels per day (bpd) by 2027 and instead focusing on maintaining 12 million bpd caused a stir among energy news watchers. The knee-jerk reaction to the decision came in the form of questions surrounding the future of oil demand and how the Kingdom’s U-turn represents a win for all those advocating to “keep oil in the ground.” The reality of the situation is a lot more nuanced.

  • RFEF searched in corruption probe of Spanish Super Cup’s Saudi Arabia deal

    The Spanish Football Federation’s (RFEF) decision to take the Spanish Super Cup to Saudi Arabia is back under the spotlight after police searched the national soccer governing body’s headquarters. Seven people have been arrested in a corruption probe over the multimillion-euro deal to relocate the tournament to the Gulf state. An apartment belonging to former RFEF president Luis Rubiales was also searched on 20th March.

  • Saudi Arabia launches $182 million incentives for mineral exploration

    The Saudi Ministry of Industry and Mineral Resources, in partnership with the Ministry of Investment, has unveiled a new incentives package for mineral exploration valued at approximately SR685 million ($182 million). This initiative is designed to attract investors to the exploration sector and is committed to nurturing local talent and expertise within the mining industry. The incentives aim to improve geological understanding, uncover untapped mineral resources, and foster the growth of domestic exploration capabilities.

  • Saudi Arabia plans $40 bln push into artificial intelligence, NYT reports

    Saudi Arabia's government plans to create a fund of about $40 billion to invest in artificial intelligence, the New York Times reported on Tuesday, citing three people briefed on the plans.
    Representatives of Saudi Arabia's Public Investment Fund (PIF) have discussed a potential partnership with U.S. venture capital firm Andreessen Horowitz and other financiers in recent weeks, the newspaper reported.

  • Saudi Arabia: Enhanced IP Landscape with New Designs Law

    The amendments to Saudi Arabia’s intellectual property law are reflective of a broader strategic intent to cultivate an innovation-driven economy, aligning with Vision 2030 objectives. By extending the protection period and integrating with international standards, Saudi Arabia is positioning itself as a competitive jurisdiction for intellectual property within the global landscape. For businesses and IP professionals, these changes necessitate a reevaluation of intellectual property strategies, particularly in terms of portfolio management, international filings, and the financial planning of annuities. The extended protection period, in particular, offers a new dynamic in the calculation of the lifecycle value of designs, potentially altering investment and development strategies.

  • How Saudi Arabia has become a global hub for manga and anime

    The announcement last Friday of the death of ‘Dragon Ball’ creator Akira Toriyama was met with sadness around the world, as fans of Japanese manga and anime were united in grief at the loss of a legend. In Saudi Arabia, the news was also keenly followed. Manga and anime have long been an important part of the social fabric of the Kingdom, with cartoons such as Captain Tsubasa (renamed Captain Majid in Arabic) winning the hearts and minds of people across multiple generations. With an estimated 13 million anime viewers in Saudi Arabia in 2022, and around 85 million across the Arab world, the medium’s popularity in the region is undeniable.

  • Iran, Saudi Arabia, UAE, others shower Russia’s Putin with congratulatory messages

    Russia’s allies in the region were quick to congratulate President Vladimir Putin on his reelection, as the Russian leader faces growing Western isolation over the war on Ukraine. Putin secured 87.3% of the votes cast during the three-day elections that closed on Sunday, the Russian Central Election Commission announced on Monday, in elections international organizations say were marred by irregularities and no real competition. Read more: https://www.al-monitor.com/originals/2024/03/iran-saudi-arabia-uae-others-shower-russias-putin-congratulatory-messages#ixzz8UvADYp7K

  • Blinken to visit Saudi Arabia, Egypt to discuss Gaza ceasefire: Official

    US Secretary of State Antony Blinken will travel to Saudi Arabia and Egypt this week to discuss efforts to secure a ceasefire in Gaza and increase humanitarian aid to the Palestinian territory, a State Department spokesperson said Tuesday. Blinken will hold talks with Saudi leaders in Jeddah on Wednesday before travelling to Cairo on Thursday for talks with Egyptian authorities, spokesman Matthew Miller said from the Philippines, where Blinken is touring. This will be Blinken’s sixth trip to the Middle East since the start of the war between Israel and Hamas on October 7.

  • Saudi Arabia’s First International Music Academy Launches in Taif

    The Nahawand Center will offer educational, training and musical research programs, aiming to support emerging Saudi talents and contribute to evolving the music industry within the Kingdom. The academy features various departments such as the oud and oriental singing, the piano and vocals training, along with the lute and Eastern music.

  • PwC signs major digital consulting MoUs in Saudi Arabia

    PwC’s digital consulting team in Saudi Arabia has beefed up its portfolio of work in the public sector with the signing of six new major agreements. Announced and formalised during the Kingdom’s flagship tech event LEAP, PwC has signed memorandums of understanding (MoUs) with Ahad, Digital Government Authority, Ejada, Mobily, Saudi Data and Artificial Intelligence Authority, and Tawuniya. All six clients are Saudi government entities, with the scope of work to focus on digital transformation, tech innovation, digital advancement, tech upskilling, and cybersecurity. Further details on the intentions have not been disclosed