MUST-READS

• From Riyadh Metro to flying taxis: Saudi Arabia’s transport revolution easing commutes

  The Riyadh Metro is opening in three phases. The Blue Line, which is 38 kilometers (24 miles) long, was one of the first lines to partially open, alongside the Yellow and Purple Lines, and runs north to south through Downtown Riyadh. The Red and Green Lines launched on December 15, while the Orange Line is scheduled to open by January 5, 2025. “Alternative means of transport outside of cars are necessary. Riyadh is gridlocked,” Nazar Musa, CEO at Sovereign PPG KSA, told Al Arabiya English. “Public transport solutions are crucial to ease traffic flow around the city.” The entire project features six color-coded lines spanning 176 kilometers with 85 stations, making it one of the largest urban transport projects currently operational in the world. Forty percent of the tracks run underground, facilitating smoother journey times across the Kingdom. The system features 183 train rakes manufactured by Siemens, Bombardier, and Alstom, establishing itself as the world’s longest driverless metro network. The fully automated operation represents a significant technological leap for the region’s public transportation infrastructure.

• Saudi Arabia ready to mine the future as it looks beyond oil

  The kingdom remains heavily reliant on oil revenues to fund government spending and push forward with large infrastructure projects planned under its Vision 2030 strategy, announced in 2016 and aimed at refocusing its economy away from oil. However, the kingdom is about to make a substantial investment in its mining sector, banking on growing demand for energy transition minerals such as lithium, cobalt and nickel, as well as gold and some rare earth metals. “Mining is a small industry now, but we are looking to quadruple the size of the sector by 2030, and we are already hitting the targets we set for 2025,” said Khalid Saleh Al-Mudaifer, His Excellency Vice-Minister for Mining Affairs, Ministry of Industry and Mineral Resources, Kingdom of Saudi Arabia. According to Saudi Arabia’s National Centre for Industrial and Mining Information, the country’s mineral wealth was estimated at SR9.4trn as of April 2024. Its non-oil sectors accounted for more than 50% of GDP for the first time in 2023, up from 47.4% in 2015.

• Saudi Arabia announces resumption of embassy operations in Kabul

  Saudi Arabia announced on Sunday the resumption of operations of its diplomatic mission in the Afghan capital, Kabul, more than three years after withdrawing its diplomats from the country amid the chaos that accompanied the Taliban's rise to power. "Based on the keenness of the government of the Kingdom of Saudi Arabia to provide all services to the brotherly Afghan people, it has been decided to resume the activities of the Kingdom's mission in Kabul as of December 22, 2024," the Saudi embassy in Kabul said on X.  In November 2021, Saudi Arabia announced the resumption of consular services in Afghanistan, where the Saudi Humanitarian Aid and Relief Center (KSRelief) is providing humanitarian aid. Saudi Arabia is one of three countries, along with the United Arab Emirates and Pakistan, to recognize the former Taliban government, which was overthrown in the U.S. invasion in 2001.

• Saudi Arabia invests in robots to help build its Neom desert megacity

  "Having worked in the rebar industry in various forms for the past 30 years, it is very exciting to reach a point where the large-scale adoption of robotics and automation to improve the rebar process is happening," explains Ulrich Deichmann, CEO of GMT Robotics. "We share in Neom's ambition to rethink how construction is delivered and look forward to a highly successful partnership that will help revolutionize the construction industry. The benefits of robotics application within the construction sector are numerous. They include boosting task efficiency, reducing operating costs, improving health and safety, and optimizing design flexibility."

• Saudi Arabia, Yemen agree to establish 3 firms

  The Saudi-Yemeni Business Council at the Federation of Saudi Chambers announced the launch of six initiatives to boost trade and investment exchanges between the two countries and support economic development efforts in Yemen. Three Saudi-Yemeni companies were agreed upon, according to Abdullah bin Mahfouz, Head of the Saudi-Yemeni Business Council. The first, with a capital of $100 million, will focus on renewable energy, producing electricity through solar power to supply Yemen. The second will provide communications via the Starlink satellite network, while the third will organize exhibitions and conferences in Yemen to promote Saudi products and support reconstruction efforts.

• Camels, kabsa, and kindness: a British influencer’s unexpected adventure in Saudi Arabia

  The response from Moores’ followers to his Saudi adventure has been “overwhelmingly positive,” he said. “Initially, I wasn’t sure how they would react, especially as I was venturing to a place I had never visited before. However, everyone embraced the journey and truly loved the experience.” Despite initial apprehension, Moores found reassurance through Visit Saudi, which provided him with resources and connections across the country. “I felt completely reassured about my safety.”

• Saudi Arabia’s bond maturities to surge to $168bn, outpacing GCC peers by 2029

  Saudi Arabia is poised to account for the largest share of bond maturities in the Gulf Cooperation Council region from 2025 to 2029, with a projected total of $168 billion, according to a recent analysis by Kamco Invest. The Kuwait-based financial firm’s report highlights that most of these maturities will come from bonds and sukuk issued by the Saudi government, which is expected to reach $110.2 billion over the five-year period. This comes after Saudi Arabia’s Capital Market Authority approved its most significant regulatory overhaul in November, aimed at revamping the sukuk and debt instrument market.

• Saudi Arabia’s diversified support for a two-state solution

  The Saudis have taken an important step by establishing and leading a global alliance devoted to implementing the two-state solution. What Saudi Arabia has done is create a new focal point and generate momentum upon which other states can gradually build. Notably, the alliance held its first meeting in Riyadh, lending a great deal of symbolic authority to this push for peace. With that said, the world has been here before. There have been peace initiatives and “pushes” toward resolution before, but none has reached the desired end goal. While there are many reasons for this, one is a lack of sustained effort to maintain the momentum moving in the direction of a two-state solution. This then raises the question of how a coalition supporting the establishment a two-state solution or any other peace process can be sustained — what is missing? One element that may be absent is diversification within the processes leading to the two-state solution.

• Alat, a Company Created by the Public Investment Fund of Saudi Arabia, Has Become a Strategic Corporate Partner of EvoNexus

  EvoNexus is California’s premier non-profit technology incubator with locations in San Diego and Irvine. Alat, a PIF company, will create a global sustainable technology manufacturing hub in Saudi Arabia focused on advanced industrials and electronics. Alat will focus on seven key Strategic Business Units: advanced industrials, semiconductors, smart health, smart appliances, smart devices, smart buildings, as well as next generation infrastructure and create products both for Saudi Arabia and the world. In December, EvoNexus and Alat entered into a strategic corporate partnership.

• Saudi Arabia and ICR Sign Historic MoU at COP16 Riyadh – Framework for Nature Based Solutions

  In a collaboration aimed at advancing global climate solutions, the National Center for Vegetation Cover Development and Combating Desertification (NCVC) and the International Carbon Registry (ICR) entered a Memorandum of Understanding (MoU) during the COP16 to the UN Convention to Combat Desertification in Riyadh. This MoU signifies a major step forward in leveraging Nature-Based Solutions (NBS) to address climate challenges and foster sustainable development in the Kingdom of Saudi Arabia.

• 10 of 17512 results<< 1 … 55 56 57 … 1,752 >>