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  • Saudi Arabia’s anti-corruption efforts paying off

    Bribery and abuse of influence are the leading corruption offences in Saudi Arabia’s public sector, according to a new report. Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha), formed in 2011, arrested 1,708 people last year on corruption charges, according to legal, risk and regulatory advisory company Secretariat. Charges included embezzlement, money laundering, forgery and misuse of public funds, Secretariat said. Departments with the most cases were interior, health, education, and municipalities and housing,  “It is clear that you're being held to account if you abuse your position of power, if you abuse your position of influence and if you take money in return for giving out favours or contracts,” said Ralph Stobwasser, managing director at Secretariat.

  • Saudi Arabia takes bold decision to unlock full economic potential, diversify away from oil: Alibrahim

    Saudi Arabia, under the leadership of the Crown Prince, made a bold decision to unlock the full potential of its economy by planning long-term and looking at the big picture to move away from oil dependence, Minister of Economy and Planning Faisal Alibrahim said. The country adopted a constructive approach based on innovative radical change, the minister said during a panel discussion at AlUla Emerging Markets Conference. This approach stimulated innovation from top to bottom in the public sector and opened markets to innovators from within the Kingdom and globally. There is progress and momentum and the Kingdom is on the right track, but the task is not yet complete, he noted.

  • Rubio meets with Saudi Crown Prince Mohammed bin Salman

    Secretary of State Marco Rubio held a meeting Monday with Saudi Crown Prince Mohammed bin Salman in Riyadh. The State Department issued a statement on Rubio’s meeting with the Saudi crown prince, saying Rubio emphasized the necessity of a Gaza solution that strengthens regional security. However, the statement didn’t elaborate on how Rubio and Crown Prince Mohammed reconciled their differing opinions on Gaza’s future.

  • Saudi Arabia Buys Stake in Blavatnik’s Streaming Service Dazn

    The sports investment arm of Saudi Arabia’s sovereign wealth fund is buying a minority stake in billionaire Len Blavatnik’s streaming service Dazn Group, which holds the broadcasting rights of some of Europe’s top-tier football leagues. SURJ Sports Investment, a unit of the $1 trillion Public Investment Fund, and Dazn will set up a regional joint venture to help broaden fans’ access to live and on-demand sports content, according to a statement Monday. Financial terms of the deal weren’t disclosed, though Bloomberg News has previously reported SURJ would invest at least $1 billion.

  • Saudi Arabia’s Red Sea Residences draw early buyers at $1.5mn starting price

    Red Sea Global has sold more than 12 per cent of its ultra-luxury homes on Saudi Arabia’s western coast before the official market launch, with prices starting from SAR5.5 million ($1.47 million) for a one-bedroom property, as the developer taps into growing regional demand for premium coastal real estate. The pre-sales success of the multi-billion riyal development on Shura Island signals a strong appetite from wealthy Gulf investors for Saudi Arabia’s emerging luxury tourism destinations, with the developer primarily targeting buyers from the kingdom and neighbouring Gulf countries.

  • ‘Positive feeling’ in Iran amid talk of Saudi mediation with Trump

    Saudi Arabia is apparently floating the notion of mediating between Iran and the United States. First reported by CNN, Tehran has dismissed the idea as “speculation”—but that has not stopped the Iranian press from discussing what Saudi intervention could entail, and what Riyadh may gain by brokering talks. Speaking to Amwaj.media on condition of anonymity, a high-ranking Iranian political source expressed “a positive feeling” about the Kingdom potentially playing a constructive role in enabling engagement with the Donald Trump administration. Addressing the reasons for his positivity towards such a scenario—mindful of how other Gulf Arab states have more established records of facilitating dialogue with Washington—the source indicated Trump’s close relationship with Riyadh.

  • Saudi Arabia’s SURJ takes ‘US$1bn’ stake in DAZN

    Saudi Arabia’s SURJ Sports Investment, a subsidiary of the country’s Public Investment Fund (PIF), has acquired a minority stake in sports streaming service DAZN. PIF has been linked with an investment in the broadcaster for several months, with reports earlier this year suggesting it was seeking a ten per cent share in the company for US$1 billion. Financial terms have not been confirmed, but the two parties have also committed to establishing DAZN Middle East and North Africa (MENA), a joint venture which will create broadcasting opportunities for Saudi Arabia’s expanding sports portfolio. Acquiring a stake in DAZN will allow Saudi Arabia to amplify its sporting ambitions. Saudi Pro League clubs have invested significantly in playing talent, while PIF has bankrolled the LIV Golf tour, acquired Premier League soccer club Newcastle United and become a sponsor of the ATP and WTA tennis tours.

  • Zelensky to visit Saudi Arabia amid US-Russia talks in Riyadh

    Ukrainian President Volodymyr Zelensky is set to arrive in Saudi Arabia on Wednesday, February 19, for an official visit, his spokesperson Sergiy Nykyforov confirmed to AFP on Monday. Nykyforov described the trip as a "long-planned" engagement, which Zelensky himself previewed last week without specifying exact dates. The Ukrainian president made it clear that he will not be meeting with any Russian or US officials who are scheduled to hold separate discussions in the kingdom on Tuesday, February 18.

  • Rubio discusses Gaza deal with Saudi crown prince

    Rubio, who arrived from Israel accompanied by National Security Advisor Mike Waltz and special Middle East envoy Steve Witkoff, met the de facto ruler ahead of talks expected on Tuesday with a Russian delegation in the Saudi capital. But the 500-day-old Israel-Hamas war dominated discussions, according to a State Department statement. Rubio and the crown prince "reaffirmed their commitment to implementing the ceasefire in Gaza and ensuring that Hamas releases all hostages, including American citizens", the statement said. "The secretary underscored the importance of an arrangement for Gaza that contributes to regional security," it added. The two "discussed ways to advance shared interests in Syria, Lebanon, and across the region, to include Red Sea security and freedom of navigation", said the statement, which made no reference to President Donald Trump's widely criticised plan for the United States to take over the Gaza Strip and move away the Palestinian population.

  • Why Is Saudi Arabia Hosting U.S.-Russia Talks? And Why Now?

    Experts see the talks as a sign that Saudi Arabia is seeking to assume a central role in international diplomacy while deepening its ties with longtime ally Washington. The discussions will be an opportunity for the oil-rich Arab nation to assert its political clout after it rejected U.S. President Donald Trump’s plan to relocate Gaza’s residents while resisting any normalization of relations with Israel. “Riyadh wanted to have a bigger diplomatic footprint,” said Amin Tarzi, an adjunct professor of International Relations at the University of Southern California’s Washington, D.C. Program. He says that Riyadh is seeking to “revive the relationship” that Crown Prince Muhammad bin Salman built with U.S. President Donald Trump during his first administration. In May 2017, Trump made his first foreign visit to Saudi Arabia. “Both Riyadh and Washington would like to expand relations under the current U.S. administration,” said Tarzi.