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  • $300m in projects funded by Saudi Arabia launched in Yemen

    Rashad Al-Alimi, chairman of Yemen’s Presidential Leadership Council, on Sunday inaugurated 20 development projects financed by the Saudi Development and Reconstruction Program for Yemen, totaling SR1.2 billion ($320 million), in Hadramout, Yemen’s southeastern province. Al-Alimi, along with Yemeni and Saudi officials, attended a celebratory event in Al-Mukalla, the capital of Hadramout, to launch the projects in various sectors, aimed at alleviating Yemenis’ sufferings and addressing major issues in the health, education, transportation, and energy sectors. The projects include the construction of a cancer hospital, the renovation of a university hospital, the construction of a 25-megawatt power station, and the construction of roads in Al-Mukalla, Seiyun, and other Hadramout cities.

  • How Saudi Arabia can emerge as a global biotech hub

    Saudi Arabia is well-positioned to become an industry-leading and globally competitive biotech ecosystem. Flagship institutions, such as the King Abdullah University of Science and Technology and the King Faisal Specialist Hospital & Research Centre, have made extensive investments in infrastructure. State-of-the-art labs and innovation initiatives like the Saudi Human Genome Program and the Saudi Network for Clinical Trials are also helping clinician-researchers and commercializing potential technologies.

  • Saudi Arabia executes two Yemeni men for joining terror group

    Font Size Saudi Arabia has executed two Yemeni men for joining a terrorist group, the official Saudi Press Agency (SPA) reported on Saturday. Abdulrahman Fares Amer al-Marri and Mohammed Salah Omar al-Marri received the death penalty for “joining, supporting and pledging allegiance to a terror group.” According to SPA, Abdulrahman established “a terror entity to carry out an operation in the Kingdom and kill security forces.”

  • Head of men’s tennis reveals ‘positive’ talks with Saudi wealth fund

    The head of the men’s professional tennis tour has revealed “positive” talks have taken place with Saudi Arabia’s Public Investment Fund (PIF) about a potential partnership. ATP chief Andrea Gaudenzi told theFinancial Timesthat he had spoken to the PIF, and other potential investors on projects including infrastructure, events and technology investment.

  • Hajj pilgrimage starts in Saudi Arabia, with 2 million expected after lifting of COVID measures

    Some 2 million Muslim pilgrims officially began the annual Hajj pilgrimage on Monday, making their way out of Mecca after circling Islam’s holiest site, the Kaaba, and converging on a vast tent camp in the nearby desert for a day and night of prayer. One of the largest religious gatherings in the world has returned to full capacity this year for the first time since the onset of the coronavirus pandemic three years ago. The pilgrimage is one of the five pillars of Islam, and all Muslims are required to make the five-day Hajj at least once in their lives if they are physically and financially able to do it.

  • Gas Price Alert: Saudis Are Tightening the Screws on US Oil Shipments

    When Saudi Arabia needs to quickly convince the oil market that supply is tightening, putting upward pressure on prices,  nothing beats reducing its crude exports into the US. Riyadh has promised to slash oil production next month by 10%, a unilateral cut that would reduce output to just 9 million barrels a day, the lowest since 2011 — save for brief disruptions from Covid and the Yemeni attack on its facilities. Crucially, as important as the cut itself, is where it’s going to be felt: The signals point to the US and Europe.

  • Saudi and Singapore Wealth Funds Join $930 Million Pre-IPO Bet on Anime Giant

    Kakao Entertainment Corp. has won $930 million from the sovereign wealth funds of Saudi Arabia and Singapore, securing one of the country’s largest financing rounds at a time global investors shy away from big startup bets.

  • Saudi Arabia Becomes Largest Outside Shareholder of Nintendo

    Saudi Arabia’s Public Investment Fund became the largest outside shareholder of Nintendo Co. on Friday, in the latest move by the Gulf state to lower its reliance on oil.

  • Millions head to Mecca for huge hajj in Saudi heat

    More than two million people from more than 160 countries will attend, Rabiah said -- a dramatic increase on the 926,000 from last year, when numbers were capped at one million following the Covid-19 pandemic.

  • Saudi-Iran Deal: A Test Case of China’s Role as an International Mediator

    The United States has long maintained its political power and influence in the Middle East; however, the increasing Chinese foothold in the region is changing this matrix. The clash of their interests, influence, and—more certainly—quests to play a more influential role in the region in terms of diplomacy and economic security is changing the geopolitics of the Middle East. In this regard, the Saudi-Iran deal brokered by China—an equivalent to the US-led Abraham Accords to strengthen peace in the Middle East—is yet another manifestation of the great power rivalry between Beijing and Washington. Interestingly, the global rift between Washington and Beijing is widening, but the tensions between the ‘rivals’ in the region are de-escalating. From Israel and the Arab States under the Abraham Accords, to now, with the peace agreement between Saudi Arabia and Iran, it is increasingly imperative to assess China’s growing influence in the Middle East in contrast to US’s long-held dominance in the region.