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  • Saudi Arabia’s open banking strategy a game-changer

    In May 2022, the institution, also known as SAMA, went live with its open banking initiative, which has altered the future of financial technology in the Kingdom and the wider region. Open banking is a technological innovation that enables customers to securely share their data with third parties. “Open banking changes the very nature of relationships across the financial ecosystem for Saudi Arabia and for the region as a whole. This is only a good thing,” said Al-Moayed.

  • Goldman Sachs first Wall Street bank to get green light for Saudi Arabia HQ

    Goldman Sachs has reportedly become the first Wall Street bank to obtain a license to open a regional headquarters in Saudi Arabia, as the kingdom deepens its financial markets amid sweeping economic reforms. The US-headquartered investment bank received a license from the Saudi Ministry of Investment to set up its regional headquarters in Riyadh, the capital, Bloomberg reported Thursday.  

  • Saudi Arabia Wants Airbus & Boeing To Help Get Kingdom’s Aluminum & Titanium On Planes

    On May 20th, 2024, the government of Saudi Arabia announced that it is now working in collaboration with manufacturing giants Boeing and Airbus to get aluminum and titanium from Saudi mines approved for use in their commercial aircraft. The move comes as the two major planemakers face increasingly problematic supply shortages, including difficulties securing several lightweight metals, including aluminum and titanium.

  • Introducing Saudi Arabia’s first nightclub where booze is banned and it costs £1,900 to get in! Revellers dance the night away at members-only ‘sovereign wealth fund-backed’ Beast House

    Beast House, found in Riyadh’s artistic Jax District, a vibrant hub for artists and creatives, has been hailed as the start of 'a new life' by excited revellers. While DJs, chic interiors and the opportunity for socialising are all present at the music venue, alcohol remains forbidden, with mocktails served at the bar instead and bouncers on hand to enforce the no-booze rules, according to The Times.

  • Sungrow Signs the 760MWh Off-Grid Energy Storage Project to Propel Saudi Arabia’s 2030 Vision

    Sungrow, the global leading PV inverter and energy storage system provider, has forged a strategic partnership with Larsen & Toubro to supply 165MW PV inverters and 160MW/760MWh energy storage systems for AMAALA, a prestigious destination in Saudi Arabia. This collaboration aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, marking a pivotal moment in sustainable energy development. This flagship project is developed and led by EDF Group, the leading French utility company specialized in low carbon electricity generation with over 91% of its own production free of CO2 emissions, and Abu Dhabi Future Energy Company (Masdar), for the client Red Sea Global.

  • Satellite Images Show Massive Theme Park Taking Shape in Saudi Arabia

    A massive new water and theme park is being constructed in the deserts of Saudi Arabia, part of yet another megaproject commissioned by Crown Prince Mohammed bin Salman as part of his vision to turn the kingdom into a top tourism destination.

  • Saudi Arabia stages ‘historic’ first swimwear fashion show

    The poolside show featuring the work of Moroccan designer Yasmina Qanzal included mostly one-piece suits in shades of red, beige and blue. Most models had exposed shoulders and some had their midriffs partially visible.

    "It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal said.

  • Unveiling “The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership

    Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: "The Clean Hydrogen Economy and Saudi Arabia." With a foreword by KAPSARC President Fahad Alajlan and KAUST President Tony Chan and co-edited by KAUST research scientist Dr Saumitra Saxena, this book charts new energy discourse, offering a comprehensive analysis of the emerging global hydrogen economy through the lens of one of the world's foremost energy providers, Saudi Arabia.

  • This 256 km highway in Saudi Arabia is world’s longest road without a bend

    Saudi Arabia's Highway 10 has emerged as the world's longest straight road, surpassing Australia's Eyre Highway, according to the Guinness World Records. This achievement marks a significant milestone in transportation infrastructure, offering travellers an unparalleled journey across vast distances with unobstructed views. This 256-kilometre (159-mile) asphalt stretch cuts through the vast Rub Al-Khali desert, also known as the Empty Quarter, the largest sand desert in the world, without any bends left or right, or any appreciable gradient up or down.

  • Will Saudi Arabia’s sports investment trigger an athleisure boom?

    By 2030, the government aims to increase the ratio of individuals exercising at least once a week to 40 percent. With an expanding base of sports practitioners, the country’s sportswear and athleisure apparel market is set to boom. In 2022, the category generated $1.3 billion (SAR 4.9 billion) in sales, and by 2027, it is expected to reach $1.5 billion. Could Saudi Arabia be the next frontier for sportswear?