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  • What we know about Saudi Arabia’s £1.6bn offer to buy professional tennis

    Saudi Arabia’s Public Investment Fund (PIF) has reportedly launched a $2bn (£1.56bn) deal to merge the two professional tennis tours. The bid comes in response to a proposal by the four grand slams to redesign the tennis calendar and condense it to 14 events a year in a so-called “Premium Tour”. Cover was broken on the Saudi deal at a meeting of top tournament owners and administrators on Saturday in California, according to the Telegraph, just minutes after they had been given further details on the Premium Tour.

  • Saudi Arabia Football Clubs to Curb Spending in Next Transfer Window

    Saudi Arabia’s football clubs will not repeat their footballing spending spree this summer, after the Kingdom made plans to reduce losses and build a more sustainable domestic transfer market. Saudi clubs were allocated a three-year budget last summer by the state’s sovereign wealth fund, and there are no plans in place yet to increase this allocation, according to Carlo Nohra, Chief Operating Officer of the Saudi Pro League.

  • Saudi Arabia, Qatar, Egypt among world’s top arms importers: SIPRI

    Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of imports, while Qatar was third with 7.6%. India was the largest importer with a 9.8% global market share, according to SIPRI’s data. Read more: https://www.al-monitor.com/originals/2024/03/saudi-arabia-qatar-egypt-among-worlds-top-arms-importers-sipri#ixzz8UGU8gXJ5

  • Saudi Arabia look to break PSG Ligue 1 stranglehold with possible purchase

    AS Monaco has recently been put up for sale by its Russian owners who still own 65% of the football club with the remaining 35% shares belonging to the local Royal Family in the Principality. A Saudi Arabian prince who has already shown interest in a potential acquisition of Olympique Marseille a few months ago has now changed his focus moving on ‘Les Rouges et Blanc’.

  • Saudi Arabia adopts moving chain methodology to calculate real GDP

    The new system is much more dynamic in measuring economic growth rate and uses the weights and prices of the year preceding the year of measurement. It helps provide a measurement within contiguous time periods and accurately reflects current economic conditions. The moving chain methodology takes into account the impact of price changes and is flexible in dealing with economic activities and continuously updates the figures. It also considers the structure of production and consumption patterns and allows for clearer international comparisons.

  • Saudi Arabia, Qatar, Egypt among world’s top arms importers: SIPRI

    Gulf states and Egypt accounted for more than 25% of global arms sales in the past four years, according to a report released Monday. The Stockholm International Peace Research Institute's (SIPRI) quadrennial report on international arms transfers details the import and export of weapons around the world between 2019 and 2023.

  • Saudi Arabia’s Jada makes first investment in venture debt

    Baghoomian adds: “We are thrilled to partner with Jada to accelerate the growth of Saudi Arabia's private credit sector. This collaboration exemplifies our shared commitment to fostering entrepreneurship, driving technological advancement, and unlocking opportunities for local talent.” Partners for Growth has secured commitments from a wide range of institutional investors from around the globe. Partners for Growth VII, with a fund size of over 1 billion riyals, provides investors with an opportunity to gain exposure to fast-growing and high-potential mid-market companies across a variety of sectors.

  • US delegation leaves Saudi Arabia early over kippah row

    A US delegation on religious freedom said Monday it cut short its visit to Saudi Arabia after one of its members was asked to remove his Jewish head covering, or kippah. The United States Commission on International Religious Freedom (USCIRF) said its delegation was near Riyadh visiting Diriyah, a historic town and Unesco world heritage site, when the commission’s chair, the Orthodox rabbi Abraham Cooper, “refused their requests that he remove his religious head covering”. Cooper said in a statement: “No one should be denied access to a heritage site, especially one intended to highlight unity and progress, simply for existing as a Jew.”

  • Saudi Arabia, Muslim world gear up as Ramadan begins

    Joining Saudi Arabia, Qatar and the UAE have also confirmed that Ramadan will begin on Monday, with Oman, Pakistan, Indonesia, Australia, Malaysia, Brunei and Iran to follow a day later. The determination of the starting date relies on both lunar calculations and physical sightings of the new moon, a practice steeped in Islamic tradition. Al-Khudairi said: “Calculation and technology are complementing the sighting process. I say that the astronomical calculations and the naked eye sighting, like the human’s eyes, they need one another.”

  • Saudi Arabia rounds up record 23,040 illegals in weekly swoop

    Saudi authorities have arrested 23,040 foreign violators of the kingdom’s residency, labour and border security laws in one week, the highest such weekly arrests in more than two years. The arrests were made across the kingdom during the February 29-March 6 period.