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  • Saudi Arabia unveils locally-made smart chip and new tech initiatives worth $1bn

    Saudi Arabia unveiled its first locally-made smart chip and announced a slew of new high-tech initiatives worth 4 billion Saudi riyals ($1.07bn) in partnership with 10 global tech giants to improve its technological prowess. The new initiatives announced on Wednesday in Riyadh aim to boost innovation and the digital capabilities of the kingdom and produce one programmer out of every 100 Saudi nationals by 2030, the state-run Saudi Press Agency said.

  • Commentary: Whither the Arabs – The end of the welfare state and the start of a journey into the unknown

    “The challenge of creating an average of 7.5 million jobs annually, just to keep the already high unemployment rate from rising, requires a major overhaul of economic and socio-political systems.”

  • Qiddiya, Saudi Arabia’s Future Disruptive Entertainment, Sports & Arts Giga-Project

    “Entertainment is something that has grown in terms of importance everywhere. We have this growing realisation in the world that time passes very fast and people need to enjoy time together, and do things together — not just work, go to bed and go back to work,” Phillipe Gas, the CEO of the Qiddiya Investment Company, told sister organisation Asharq News.

  • How Saudi Arabia’s NEOM aims to be Bollywood’s next powerhouse production partner

    Bollywood remains one of the most dynamic film industries globally. Worth an estimated $2.4 billion in 2020, Bollywood produces more films annually than Hollywood, including many produced outside India. Like any filmmaker, Indian producers are always on the lookout for new, fresh locations that provide logistical support and production incentives to give producers a competitive advantage.

  • Saudi Arabia issues highest-ever number of foreign investor licenses in a single quarter

    The Ministry of Investment of Saudi Arabia (MISA) reported today that it issued 478 new licenses in Q1 2021, the most number in a single quarter since records began in 2005. It reported a 36 per cent annual increase in new licenses issued compared to Q1 2020, and the latest figure also marks a 2.6 per cent quarterly increase.

  • Justice Department says it intends to release some secret 9/11 files on Saudi Arabia

    Under pressure from the families of people who died in the Sept. 11 attacks, the Biden administration said on Monday that it intended to disclose some long-classified documents that the families think may describe links between Saudi Arabia’s government and the hijackers.

  • Saudi Arabia’s booming startup ecosystem

    Among Saudis surveyed for the GEM report, 90 percent agreed or strongly agreed it is easy to start a business, placing the Kingdom in top position among GEM economies. Saudi Arabia also reported the highest rate of market confidence, with 80 percent seeing opportunities to start a business as a result of the changes brought about by the pandemic.

  • Funding to Saudi Arabia’s start-ups rises 65% in first half of 2021

    Start-ups in Saudi Arabia, the Arab world’s biggest economy, attracted a record $168 million worth of venture capital funding through 54 transactions in the first half of 2021, according to data platform Magnitt. This is about 94 per cent of the money extended to the kingdom’s start-ups in 2020.

  • Saudi Arabia seeks European partners to expand space programme

    Saudi officials in charge of developing the country’s space programme are travelling around Europe seeking partnerships with leading companies in a sign that the Kingdom is putting the programme up on its agenda.

  • The history of Saudi Arabia is written in its rock art

    Dr. Salma Housawi, professor of ancient history at King Saud University, said that the rock art shows that the inhabitants of the southern part of the Arabian Peninsula began to hunt and domesticate animals in around 6,000 B.C. “The dog was one of the first animals to be domesticated and used for hunting. Donkeys and bulls depicted in the drawings are also domesticated then,” she added.