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  • Hong Kong start-up hubs expand city’s collaboration with Saudi Arabia to forge closer ties a year after John Lee visit

    Hong Kong Science and Technology Parks (HKSTP) and Cyberport each signed memorandums of understanding with Saudi Arabia’s King Abdulaziz City for Science and Technology in Riyadh on Monday, a year after Chief Executive John Lee Ka-chiu attended the Leap technology conference to foster closer ties between the two markets. The third annual Leap event is the first to feature a Hong Kong pavilion, where HKSTP and Cyberport had eight and seven companies exhibiting, respectively.

  • Digital oasis: Luxury and tech converge in Saudi Arabia

    With a young population keen on NFTs and new tech, Saudi Arabia is becoming a hub for digital innovation. Digital stores and Web3 are the way to local consumers’ hearts and wallets.

  • Saudi Arabia: Migrant Workers’ Long Overdue Wages at Risk

    In 2016, following a period of low oil prices and an economic downturn in Saudi Arabia, several companies failed to pay hundreds of thousands of migrant workers their wages, leaving them stranded. In late 2023, Saudi Oger’s Liquidation Trustees and Mohammad Al-Mojil Group (MMG)’s Bankruptcy Trustee, the trustees of the two Saudi-based construction companies, who faced such economic challenges and are currently in liquidation and bankruptcy respectively, announced that former employees should register for their payments.

  • Saudi Arabia targets human skills as key to expanding economy at Riyadh event

    “Education is in itself the most important sector in which to invest,” Khalid Al Falih said on Thursday during his opening speech on the second and final day of the Human Capability Initiative event in Riyadh. He said that the needs for the energy sector are changing as the world shifts to cleaner methods, along with the advanced technology markets, which both demand talent for jobs that have not yet been created. This will have “a tremendous impact” on Saudi Arabia’s global competitiveness, and that is where its investment will be directed, said the minister.

  • Saudi Arabia strongly condemns targeting unarmed civilians in northern Gaza

    The Ministry of Foreign Affairs expressed Saudi Arabia's strong condemnation and denunciation of the targeting of defenseless civilians in the northern Gaza Strip. The ministry affirmed the Kingdom’s categorical rejection of violations of international humanitarian law by any party and under any pretext, the Saudi Press Agency reported.

  • Saudi Arabia May Be Taking Center Stage in Post-Gaza Peace

    While Saudi leaders have in the past engaged in efforts to secure a fair resolution of Palestinian-Israeli issues, such as the Fahd Plan in 1981 and the Arab Peace Initiative of 2002, the current moment feels different. The kingdom holds greater leverage with regional and international partners, including the Biden administration which continues to push for a Saudi-Israeli deal before the US presidential election in November. With influence comes responsibility, and the question of how, when, and where to play the cards in the Saudi hand.

  • Saudi Arabia needs a second airline because it’s ‘not as easy as it should be’ to get to ‘the home of Cristiano Ronaldo,’ says the CEO of the country’s next carrier

    Tony Douglas, the CEO behind Saudi Arabia's soon-to-be second flag carrier, couldn't get a direct flight to Singapore from his home base of Riyadh. Douglas, who heads Riyadh Air, had to instead fly to Dubai, then transfer to UAE-based airline Emirates to get to Southeast Asia. Other staff members had to fly Qatar Airways via Doha. Saudi Arabia is "the home of Cristiano Ronaldo [and] a country that’s two-thirds the size of Europe." Douglas said in a moderated discussion at Aviation Festival Asia 2024 in Singapore on Wednesday.

  • Abandoned at sea, Houthi-damaged ship awaits towing to Saudi Arabia amid oil slick concerns

    A vessel impaired in a mid-February Houthi attack offshore Yemen remains abandoned at sea awaiting towing to safe harbor amid growing concerns of an oil spill. The Iran-backed militant group claimed it dealt “catastrophic damage” during a Feb. 18 offensive against the Belize-flagged general cargo vessel Rubymar, which the Houthis said was “at risk of potential sinking in the Gulf of Aden.” The tanker’s crew abandoned ship.

  • Saudi Arabia records 10% surge in number of factories

    The number of industrial units in Saudi Arabia recorded a 10 percent surge year on year in 2023 to reach 11, 549, according to the Ministry of Industry and Mineral Resources. A spokesman for the minister, Jarrah bin Mohammed Al-Jarrah, revealed that the new industrial establishments were set up with an investment of SR1.54 trillion ($48.4 billion). The rise in the number of factories falls in line with the Kingdom’s plan of boosting industrialization and achieving a target of 36,000 plants by 2035. Moreover, the number of new industrial licenses issued in 2023 reached 1,379, with investments amounting to more than SR81 billion.

  • Saudi Arabia’s Falconry Heritage Celebrated on Founding Day

    The falcon features in the visual identity of the Saudi Founding Day logo, alongside four other symbols: the Saudi flag, the palm tree, the Arabian horse, and the market. Beyond its symbolic significance, falconry played a crucial economic role. The birds were used for hunting, providing a source of food and income for many. It also fostered a strong sense of community and identity among Saudis, uniting them in their shared passion for this noble sport.