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  • Saudi Arabia plans $40 bln push into artificial intelligence, NYT reports

    Saudi Arabia's government plans to create a fund of about $40 billion to invest in artificial intelligence, the New York Times reported on Tuesday, citing three people briefed on the plans.
    Representatives of Saudi Arabia's Public Investment Fund (PIF) have discussed a potential partnership with U.S. venture capital firm Andreessen Horowitz and other financiers in recent weeks, the newspaper reported.

  • Iran, Saudi Arabia, UAE, others shower Russia’s Putin with congratulatory messages

    Russia’s allies in the region were quick to congratulate President Vladimir Putin on his reelection, as the Russian leader faces growing Western isolation over the war on Ukraine. Putin secured 87.3% of the votes cast during the three-day elections that closed on Sunday, the Russian Central Election Commission announced on Monday, in elections international organizations say were marred by irregularities and no real competition. Read more: https://www.al-monitor.com/originals/2024/03/iran-saudi-arabia-uae-others-shower-russias-putin-congratulatory-messages#ixzz8UvADYp7K

  • HALO Space gears up for groundbreaking test flight in Saudi Arabia this June

    HALO Space, a leading company in the near space tourism sector, has revealed plans for its sixth test flight to take place in Saudi Arabia this June, pending approval from the Communications, Space and Technology Commission (CST)—the regulatory body for space activities in Saudi Arabia. This event marks a crucial step for both the company and the industry, as it will be the first instance where all the technologies behind HALO Space’s zero-emission flight are tested simultaneously, an achievement unparalleled by any other company in the field. The upcoming test will feature the launch of HALO’s second full-scale prototype capsule to a height of 32 kilometers above the Earth, further advancing their ambitions in stratospheric commercial flights.

  • HKS Architects Unveils Geology-Inspired Design for Sports Arena in Saudi Arabia

    Commissioned by Diriyah Company, HKS Architects have revealed the design for a new multisport arena in Diriyah. Envisioned as a catalyst for the local culture and the entertainment sector, the 20,000-seat venue will be located in the center of The City of Earth, a 76,000-square-meter development aligned with Saudi Vision 2030, aimed at becoming one of the most attractive venues for tourism in the Middle East.

  • Saudi’s Hidden Gems and Vibrant Culture to Dazzle at Arabian Travel Market 2024

    The Saudi Tourism Authority (STA) recently marked a significant milestone in its journey to promote and expand Saudi Arabia’s tourism sector. At the ITB Berlin, one of the world’s leading travel trade shows, STA celebrated its most extensive participation to date. This event was not just a showcase but a testament to the remarkable strides Saudi tourism has made, evidenced by the achievement of welcoming over 100 million tourists. Surpassing this initial target, STA has ambitiously set its sights on attracting 150 million visits by the year 2030, highlighting the Kingdom’s growing appeal as a global tourist destination.

  • Saudi Arabia Banks Embark on Record Bond Binge for Mega-Projects

    Saudi Arabia’s banks could raise a record amount of debt this year as a liquidity squeeze strains Crown Prince Mohammed bin Salman’s multi-trillion dollar economic transformation agenda. Lenders may need to issue at least $11.5 billion in bonds in local and foreign currencies, according to Bloomberg Intelligence, to raise funds for Vision 2030, a plan aimed at transforming Saudi Arabia from an oil-reliant economy to one generating income from everything from tourism to technology. That would be a new high, surpassing the $10 billion raised in 2022.

  • Saudi Arabia Gets $13 Billion in Investment in Tourism Boost

    Saudi Arabia has attracted about $13 billion in private sector investment into its tourism industry as it aims to share the cost of spending associated with its plan to become a new travel hot spot. The investments are poised to add another 150,000 to 200,000 hotel rooms within the next two years, according to Princess Haifa M. Al Saud, Saudi Arabia’s vice minister for tourism. The kingdom is also targeting raising tourism revenue to $85 billion this year from around $66 billion in 2023, she said.

  • 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 launches electronic platform to monitor gender balance

    The Saudi Institute of Public Administration (IPA) launched the experimental version of the electronic platform for the National Observatory for Gender Balance Indicators in Riyadh on Wednesday. The platform will review local and international indicators within the framework of gender balance to support decision makers, in line with the fifth goal of the Sustainable Development Goals on gender equality in the work environment.

  • Saudi Arabia releases AI images of new circuit in Qiddiya

    Saudi Arabia has released computer-generated images of its planned new racing circuit in Qiddiya, which will feature a 20-storey-high elevated first corner and a swimming pool overlooking a section of track. Since joining the F1 calendar in 2021, Saudi Arabia has hosted its grand prix on a street circuit in Jeddah, with the fourth running of the race set to take place this weekend.