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Saudi Arabia Transfers 8% of Aramco to Kingdom’s Public Investment Fund
Saudi Arabia has moved a roughly $160 billion stake in its state oil giant Aramco into its main sovereign wealth fund, the Public Investment Fund, according to a report in the Wall Street Journal.
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New Imagery Released of F1 Circuit at Forthcoming Entertainment City Qiddiya
Saudi Arabia has released computer-generated images of its planned new racing circuit in the forthcoming mega entertainment project Qiddiya, which will feature a 20-story-high elevated first corner and a swimming pool overlooking a section of track, according to reports.
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Saudi PIF, Bahraini Counterpart Mumtalakat Sign Agreement to Boost Cooperation and Investment
Saudi Arabia’s Public Investment Fund (PIF) and its Bahrani counterpart, Mumtalakat, have signed a memorandum of understanding (MoU) to expand cooperation and enable new and promising investment opportunities in Bahrain.
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Israel, Gaza, and a region with shifting power dynamics with columnist Hussein Ibish
In Episode 125, the hosts welcome veteran columnist and analyst Hussein Ibish onto The 966 for his third appearance on the program to unpack the implications of Israel’s brutal war in Gaza and the shifting regional and global power dynamics since October 7th.
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Report Says Saudi Arabia Seeing a Surge in Demand for Cybersecurity Specialists
Saudi Arabia has seen a surge in demand for cybersecurity specialists amid growing concerns about cyber threats within the Kingdom, according to a recent report by security software company Qrator Labs.
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Human Capability Initiative Conference in Riyadh Concludes with Goal of Increasing Employment Rate in New Industries
The Human Capability Initiative (HCI) Conference launched this week in Riyadh at the King Abdulaziz International Convention Center under the patronage of Crown Prince Mohammed bin Salman with the goal of boosting human capital in the Kingdom.
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Riyadh Air Makes Waves at Aviation Festival of Asia 2024
New Saudi airline Riyadh Air is touting its new offering at an industry event in Asia, with the CEO and COO giving public appearances and with it a glimpse into the plans and aspirations of the startup airline.
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Lucid CEO Says Saudi Arabia Views Struggling EV Maker as Strategic Investment for Economic Diversification
Lucid Motors CEO said at the Geneva International Motor Show today that the struggling EV maker and its Saudi backers are “in this together for the long run” and the relationship is like a “marriage,” according to a report in Bloomberg.
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Ahead of LEAP in Saudi Arabia, MCIT’s Abdullah Alshamrani joins The 966 to talk tech, ecosystem development, and more…
Abdullah Alshamrani, General Manager of the Digital Entrepreneurship Center at Saudi Arabia’s MCIT join The 966 to talk ecosystem development in the Kingdom, the entrepreneurship scene, and the Kingdom as a future destination for tech.
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Khalid bin Musaed bin Saif bin Abdulaziz Al-Saif (1953-2024)
*A note from SUSTG’s President, Richard Wilson.* My friend, Khaled Al-Saif, a true Saudi patriot, passed away on February 18.
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Saudi authorities issue severe weather warning
Saudi authorities warned residents that most parts of the Kingdom will experience severe weather until Friday. The National Center of Meteorology on Monday forecast moderate-to-heavy rain in the Madinah, Makkah, Jeddah, Baha and Najran regions, accompanied by high winds, hail and thunder. Saudi Arabia’s General Directorate of Civil Defense also issued severe weather warnings accompanied by safety instructions as the country braces for heavy rainfall in coming days. The Civil Defense said that most parts of the Kingdom will experience moderate-to-torrential thundershowers, accompanied by strong winds, until Friday.
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Saudi Crown Prince leads Special Dialogue at WEF special meeting in Riyadh
Saudi Arabia’s Crown Prince Mohammed bin Salman led a Special Dialogue session at the World Economic Forum special meeting in Riyadh on Sunday where prominent figures from different industries discussed challenges and plans, the official Saudi Press Agency (SPA) reported on Monday.
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Saudi Aramco is looking at investment in new energies outside of the kingdom, CEO says
Saudi Arabia's state-oil giant Aramco (2223.SE), opens new tab is looking at investments right now in new energies outside of the kingdom, CEO Amin Nasser said on Monday at the sidelines of a World Economic Forum special meeting held in Riyadh.
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Secretary Blinken’s Meeting with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
Secretary of State Antony J. Blinken met today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud. Secretary Blinken underscored the need to avoid further escalation in the region. The Secretary discussed ongoing efforts to reach an immediate ceasefire in Gaza that would secure the release of hostages held by Hamas. The Secretary discussed the recent increase in the delivery of humanitarian assistance to Gaza and emphasized that increase must be sustained. The Secretary and Foreign Minister continued discussions on regional and bilateral efforts to achieve lasting peace and security in the region, including through greater integration among countries in the region and a pathway to a Palestinian state with security guarantees for Israel. They also discussed efforts to resume negotiations under the Jeddah platform aimed at ending the conflict in Sudan and preventing further widespread civilian harm.
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Saudi Arabia to cut electricity production cost to maintain competitiveness: Minister
Addressing a session entitled “Advancing Carbon Capture Innovations and Its Uses in Global Partnerships” on the sidelines of the special meeting of the World Economic Forum, the Minister said that the Kingdom is working hard to ensure that the renewable energy program is the basis at the present time, especially in light of what is happening at the world level and the previous outbreak of the COVID pandemic and the supply chain disruptions.
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Saudi Arabia building an economy of the future — Crown Prince
The Crown Prince participated on Sunday in a Special Dialogue session at the World Economic Forum Special Meeting in Riyadh, attended by global leaders from government, business, and academia. During the session, he addressed the current geopolitical and economic challenges facing the world, and the Kingdom’s proactive efforts to expand global collaboration to foster a more resilient and integrated global economy. In his dialogue, the Crown Prince affirmed Saudi Arabia's commitment to being a stabilizing force in the region, emphasizing that cohesion and cooperation with regional and global partners are essential for achieving security and prosperity.
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Kasatkina ‘assurances’ on Saudi Arabia
Then she took a deep breath. “We see that the Saudis, now they are very into the sport. They want to develop the sport, and as long as it gives the opportunity to the people there and the young kids and the women, too, you know, we see that sport and specifically tennis, it’s actually so close so that they can watch it. They can play, they can participate in this, I think it’s great.”
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Saudi Arabia opens Umrah to all visa holders
In a significant move to facilitate religious tourism, Saudi Arabia has announced that holders of any type of visa are now eligible to perform Umrah, the non-mandatory lesser pilgrimage in Islam, which can be undertaken at any time of the year. This decision reflects the Kingdom’s ongoing efforts to welcome more pilgrims to the Grand Mosque in Makkah, enhancing accessibility for international Muslims wishing to fulfill their spiritual duties.
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Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
“Today the economy in the kingdom is growing faster, but we don’t want to overheat it. We don’t want to deliver these projects at the cost of importing too much against our own interest. We will continue delivering these projects in a manner that meets these priorities, delivers these projects and has the optimal healthy impact for our economy and the ... healthy non-oil growth within it.”
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Saudi Arabia ‘very, very close’ to US security pact tied to Palestinian state
Saudi Foreign Minister Faisal bin Farhan said on Monday that bilateral agreements with the United States were “very, very close” as Riyadh seeks to secure defense and security pacts with the kingdom in exchange for normalizing relations with Israel. "On the bilateral agreements between the kingdom and the US, we are very, very close, and most of the work has already been done. We have the broad outlines of what we think needs to happen on the Palestinian front,” the top Saudi diplomat said at a special meeting of the World Economic Forum in Riyadh. He added that the only way such agreements would work is if there is “truly a pathway to a Palestinian state.” Read more: https://www.al-monitor.com/originals/2024/04/saudi-arabia-very-very-close-us-security-pact-tied-palestinian-state#ixzz8Yt4mbYTZ
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