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FIFA Series 2024 Friendly Matches Kick Off in Jeddah
The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]
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NYT Reports on Proposed $40B Saudi AI Investment
The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.
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U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”
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OPEC and IEA Agree on Something
The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA), two of the leading global energy forecasters, have long disagreed on demand growth. They agree on this however.
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Saudi Non-Oil Activity reaches 50% of GDP as Economy Continues to Diversify
Non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever, the Ministry of Economy and Planning said on Thursday. The total non-oil economy was worth $453 billion at constant prices, driven by continued growth in investment, consumption and exports.
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Already a Riyadh Centerpiece, KAFD CEO Gautam Sashittal Discusses Future Plans
Gautam Sashittal, CEO of King Abdullah Financial District Development and Management Company (KAFD DMC), sits with Imogene Lillywhite of Zawya for an extensive interview outlining what is next for the exciting city hub.
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Al-Hilal’s Streak and Saudi Professional League Spending
Saudi Pro League league standings leader, Al-Hilal, just notched it’s 28th straight win to break the world record for most consecutive wins by a top-flight team.
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Saudi Arabia was The Second-Largest Arms Importer in the World from 2019 to 2023 — SIPRI DATA
Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of all imports, according to recent data from the Stockholm International Peace Research Institute’s (SIPRI).
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Gidori, a New Private Golf-Focused Community and Destination at NEOM, Announced with A Focus on Lush Landscaping
The Board of Directors of NEOM has announced Gidori – an exclusive private golf community set amidst the breathtaking coastal hills of the Gulf of Aqaba – as the latest addition to NEOM, the evolving regional development in northwest Saudi Arabia, according to a press release.
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Ramadan Fasting Projected to Begin March 11, Muslims Worldwide Prepare
Based on the Islamic lunar calendar, the dates for Ramadan move through the year which can result in significantly different daily fasting periods depending on where you live. Since there are 12 lunar months superimposed over 12 solar months, Ramadan “moves back” about 11 days per solar year.
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Saudi Arabia may raise prices for most oil grades to Asia for June
Top oil exporter Saudi Arabia may raise prices for most of the crude grades it sells to Asia in June to their highest levels in five months after Middle East benchmarks strengthened this month, trade sources said on Monday.The June official selling price (OSP) of flagship Arab Light crude may rise by 70 to 90 cents to close to a $3 per barrel premium to the average of Dubai and Oman quotes, seven refining sources said in a Reuters survey, which would be the highest level since January.
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Insights into establishing RHQs in Saudi Arabia
It has been three years since Saudi Arabia first introduced the Regional Headquarters Programme (RHQ), aiming to position itself as a leading global hub for multinational corporate operations. With the Ministry of Investment of Saudi Arabia releasing application guidelines in early 2022, and commencing the acceptance of applications, numerous multinational enterprises have since obtained RHQ licences. These include prominent Chinese companies such as China Harbour Engineering, China Civil Engineering Construction Corporation, China Railway Construction Corporation, China Geo-Engineering Corporation, China Communications Services Corporation, Huawei, Nuctech, and DiDi.
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MAWANI launches first railway transport between major Saudi ports
The Saudi Ports Authority (MAWANI) has announced the first container shipment via railway from Jubail Commercial Port to Riyadh Dry Port. This shipment, consisting of 78 containers, utilised the railway link between the Jubail Commercial Port and the East Railway network. The railway has a maximum load capacity of 140 TEU per trip. MAWANI collaborated with the Zakat, Tax, and Customs Authority (GAZT), Saudi Arabia Railways (SAR), and Mediterranean Shipping Company (MSC). This collaboration aims to promote seamless transportation of containers, bulk materials, and general goods by establishing rail connections between ports.
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Saudi Arabia to Launch a Centre for Space Futures in the Forum’s Fourth Industrial Revolution Network
The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR) focused on space.The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency. It aims to facilitate public-private discussions on space collaboration, incorporating best practices from the Forum and its communities into the global space sector and generating contributions to accelerate space technologies.
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What is the International Criminal Court and why it has Israeli officials worried
Netanyahu said Friday on the social platform X that Israel “will never accept any attempt by the ICC to undermine its inherent right of self-defense.” “While the ICC will not affect Israel’s actions, it would set a dangerous precedent,” he wrote. Israel’s Foreign Ministry said late Sunday that it had informed missions abroad of “ rumors ” that the court could order the arrest of senior Israeli political and military officials. The ministry did not give a source for the rumors.
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Iran’s Lessons Learned From Direct Confrontation With Israel
Receiving Iran’s top military commanders April 21, Supreme Leader Ayatollah Ali Khamenei said: “How many missiles were launched and whether they reached their targets or not … is a secondary issue. The main issue is the manifestation of the resolve of the Iranian nation and that of the armed forces in the international arena.” Disregarding the bluster, Khamenei’s statements were seemingly an admission of the inefficacy of Iran’s missiles against the formidable Israeli and allied air defense systems.
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Continued Progress in Saudi Economic Diversification
Similarly, in a year such as 2022, when oil production and oil export revenue are high, the economy can look less diversified even if the non-oil sector has done well. It is therefore important to look through short-term swings in the oil market to identify underlying trends in diversification. One way of doing this is to compare two years when oil export revenue is similar. Below, outcomes in 2023 are compared with 2018 – when Saudi oil export revenue was $232 billion, close to the $248 billion in 2023 – and 2022.
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Residents of northern Israel brace for possible all-out war with Hezbollah
Eli Harel was an Israeli soldier in his early thirties when he was sent into Lebanon in 2006 to battle fighters from the Iranian-backed group Hezbollah in a bloody, largely inconclusive month-long war.Now 50, Harel is ready to rejoin the army to fight the same group if shelling along Israel's northern border turns into a full-blown war with Iran's most powerful regional proxy. This time Israeli forces would face some of the most challenging fighting conditions imaginable, he said.
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3 citizens and expatriate arrested for money laundering involving SR200 million
It was revealed in investigations that a female citizen started a commercial entity to collect debts and handed it over to her husband, who in turn enabled the expatriate to manage the entity and its bank accounts, while another citizen also carried out the same criminal method. This enabled the expatriate to exploit these bank accounts with cash deposits amounting to more than SR200 million, in exchange for external transfers without making any customs imports.
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How AI is reshaping Saudi Aramco’s oil exploration and underwater operations strategy
Saudi Aramco is spearheading the innovations by embracing cutting-edge technologies like artificial intelligence, both within its core operations and beyond, which places the company ahead of the curve. The Saudi state-owned oil company has significantly invested in research and development compared to its industry peers, allocating approximately 3.5 USD billion in 2023, representing a 15% annual increase despite global challenges. This investment is reflected in its innovative efforts, which extend beyond its primary operations.
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