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Saudi Reaches Key 70% Vaccination Milestone, but New Cases Reach 10-Month High
Saudi Arabia’s Ministry of Health (MoH) on Wednesday said it has administered more than 16.8 million vaccine doses covering 70 percent of the total adult population in Saudi Arabia, a key milestone as the Kingdom progresses toward a full recovery from the pandemic, according to the Saudi Gazette.
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For Second Straight Year, Saudi Arabia Puts Safety First with Plans for Scaled Back Hajj in 2021
Saudi Arabia announced over the weekend that this year’s Hajj pilgrimage will be limited to no more than 60,000 people, all of them from within the kingdom, as authorities seek to build on progress combatting the ongoing coronavirus pandemic.
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Saudis Surge Investments into U.S. Stock Market in Q1 2021 as Overseas Inflows Reach Record Highs
The total amount invested by Saudi traders in the U.S. stock market through companies licensed by the Capital Market Authority (CMA) surged 162 percent, year-on-year, to SR77.4 billion ($20.64 billion) in the first quarter, Zawya reports, citing data compiled by financial website Argaam.
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Eid Al-Fitr to Start Thursday, Saudi Scholar Says; Saudis to Look for Crescent Moon
A Saudi scholar and advisor to the Royal Court predicts that Ramadan will end on Wednesday May 12th and the Eid Al-Fitr will begin on Thursday May 13th, according to a report in Gulf News. The precise ending of the 30 days-long Ramadan for the world’s 1.8 billion Muslims will depend on the sighting of the youngest […]
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Saudi Arabia’s Stock Market Revamps Corporate Structure Ahead of Highly-Anticipated IPO
Saudi Arabia’s stock exchange, the Tadawul, has announced a revamped corporate structure as it prepares for a much anticipated IPO, converting to a holding company called the Saudi Tadawul Group, according to reports. The change was announced by the Tadawul Group CEO Khalid al-Hussan said on Wednesday.
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‘Red Sea Rainforests’: Astronaut Captures Striking View of Saudi Arabia’s Northwest Coastline from Space Station
An astronaut captured a striking view of the northwest coastline of Saudi Arabia, showing the extent of a coral reef where Saudi Arabia hopes to boost sustainable tourism and where up to 260 reef species thrive, according to a post the NASA Earth Observatory blog.
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Saudi Arabia’s Stock Market Amends Rules, Allows All Qualified Investors to Sell Short
Saudi Arabia’s stock exchange, Tadawul, has widened access to short-selling and stock-lending, while tightening some other rules as of March 25, according to a report in Arab News.
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New Paper Highlights Deep U.S.-Saudi Economic Relationship Beyond Defense and Energy
A new paper from authors David Kenner and Kameal Al-Ahmad of the King Faisal Center for Research provides a fresh overview of the US-Saudi economic relationship beyond the headline-dominating oil and arms sales.
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Saudi Civil Aviation Authority Chief Replaced as Kingdom Set to Reopen International Flights on May 17
Saudi Arabia’s civil aviation authority said the Kingdom will resume international flights on May 17 after they have been earlier suspended due to coronavirus travel restrictions, according to reports citing a circular.
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Saudi Arabia is Improving its Air Defenses Against Missile Attacks
Saudi Arabia’s air defenses “appear to be coping better with long-range attacks on the kingdom,” defense and security publication IHS Jane’s said, as Saudi Arabia continues to fend off cross-border attacks from Yemen’s Iran-backed Houthis.
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Saudi tourism grows 10% in Q1 2024: Minister
Saudi Arabia witnessed a 10% year-on-year (YoY) increase in the number of tourists and a 17% YoY increase in tourist spending in Q1 2024, Al Arabiya reported, citing Saudi Minister of Tourism Ahmed Al-Khateeb. Al-Khateeb expected the number of tourists to increase to 110 million and spending to rise to SAR 150 million by 2030, aligning with the new tourism projects in the Red Sea, NEOM’s opening of Sindalah Island by year-end, and the Diriyah project.
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Senior US, French officials in Middle East seeking to ease Gaza war
French Foreign Minister Stephane Sejourne said on Monday talks on a ceasefire in Gaza were progressing as he joined U.S. Secretary of State Antony Blinken in Saudi Arabia on a diplomatic push to ease the war between Israel and Hamas.Sejourne was expected to hold talks in Riyadh with ministers of Arab and other Western countries as well as Palestinian Authority President Mahmoud Abbas."Things are moving forward but you always have to be careful in these discussions and negotiations. The situation in Gaza is catastrophic and we need a ceasefire," Sejourne told Reuters on the sidelines of a World Economic Forum (WEF) meeting.
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Gulf States at the Venice Biennale: Balancing Social Transformation and Cultural Representation
Inside the Saudi pavilion, larger-than-life, sand-colored circular panels rise from the floor stretching vertically to the ceiling. They recall the shape of the desert rose, which forms crystal-like clusters and grows in the arid desert landscape in Saudi Arabia’s Eastern Province, near where AlDowayan is from. Covering each panel are dozens of drawings and writings in Arabic and English professing statements such as “Let me be!”; “I am solidarity in the face of storms, I’m love in the face of dryness”; and “Thanks, we don’t need to be saved.”
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FIFA seals closer ties to Saudi Arabia with World Cup sponsor deal for oil firm Aramco
FIFA deepened its ties to Saudi Arabia by confirming a sponsorship on Thursday with the kingdom’s state oil firm Aramco which made a profit of $121 billion last year. The deal was expected and became inevitable once Saudi Arabia was all but sealed last October as the 2034 host of the men’s World Cup. The deal through 2027 includes the men’s World Cup in 2026 co-hosted by the United States, Canada and Mexico and the 2027 Women’s World Cup. Hosts of that tournament will be decided next month in a three-candidate vote.
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Saudi fund PIF’s managed assets hit $749bln in 2023
Saudi Arabian sovereign wealth fund PIF's managed assets reached 2.81 trillion riyals ($749.2 billion) in 2023, state news agency SPA reported on Thursday. The kingdom's non-oil government revenue reached 457 billion riyals last year and non-oil activities accounted for 50% of real gross domestic product (GDP), SPA added. ($1 = 3.7505 riyals)
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Vision 2030: 87% of initiatives on track or completed
More than halfway through its "Saudi Vision 2030" journey, Saudi Arabia has demonstrated notable progress, with 87% of the 1,064 initiatives either completed or advancing as planned.
This achievement underscores the Kingdom's substantial efforts since the vision's launch on April 25, 2016, under the leadership of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman. The vision aims to transform the nation through significant economic growth and enhanced quality of life, positioning Saudi Arabia as a prosperous and future-ready economy. -
Saudi Arabia marks Vision 2030’s 8-year anniversary
Today marks the eight-year anniversary of Saudi Arabia’s Vision 2030, an ambitious blueprint aimed at transforming the Kingdom into a pioneering model on the global stage.
Launched on April 25, 2016, by King Salman bin Abdulaziz Al Saud and spearheaded by Crown Prince Mohammed bin Salman, Vision 2030 has reshaped the nation’s economic and social landscape, propelling it towards a more diversified and sustainable future. -
Saudi Arabia Makes It Clear They’re Taking Design Seriously
Set within the landmark Mediateca Santa Teresa library in Milan’s Brera district, Design Space AlUla presented a smattering of projects created with local craft traditions. Among these were the AlUla Design Residency, realized under the curation of architect Ali Ismail Karimi, which tapped five global designers to participate in a five-month immersion into life in AlUla. Most visible was Hall Haus’s giant seating system, which blended Majlis-style sofas with the swoops of sand dunes. Also appearing windswept are Bahraini-Danish’s steel partitions and sculptural chairs by Leo Orta that channel AlUla’s geological formations. Studio Raw Material’s floor lamps explore the spatial quality of light in the Qasr al-Bint while Leen Ajlan’s wooden platforms and benches reflect the setup of Saudi folk games.
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IDC expects Saudi Arabia’s ICT spending to hit $37.4B by 2024-end
Spending on the information and communication technology (ICT) market in Saudi Arabia is expected to reach about $37.4 billion by the end of 2024, showing a growth of 3.3% year-on-year, said Hamza Naqshabandi. Vice President for Custom Solutions in the Middle East, Turkey, and Africa (META) at International Data Corporation (IDC). On the sidelines of the ICT Indicators Forum, Naqshabandi told Argaam that the main factors driving this growth include the emergence of pioneering and emerging digital sectors such as e-tourism, entertainment, and e-sports.
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Two US law firms push into Saudi Arabia under new attorney rules
Two major U.S. law firms are opening offices in Saudi Arabia following a change last year in the country's rules governing foreign lawyers practicing there.Quinn Emanuel Urquhart & Sullivan said on Thursday that it had been granted a license to practice in the country. Also on Thursday, Morgan Lewis said through a spokesperson it was preparing to open an office in Riyadh.Saudi Arabia has been a "key focus" for Quinn Emanuel, which has 1,000 lawyers, as it has "invested billions into diversifying its economy and encouraging international investment," firm founder John Quinn said in a statement.
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