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  • U.S. Exports to the Arab World Jump By 12% to $65.3 Billion
     

    The National U.S.–Arab Chamber of Commerce (NUSACC) reported that, according to data released last month by the U.S. Census Bureau, U.S. goods exports to the Arab world jumped 12 percent to $65.3 billion in 2023.

     
  • IMG expands partnership with Saudi Pro League and Saudi Arabian Football Federation
     

    The Saudi Pro League (SPL) and Saudi Arabian Football Federation (SAFF) have announced a new five-year production partnership with IMG, a global sports, events, and representation company, for the Roshn Saudi League (RSL), King’s Cup, and Saudi Super Cup, starting from the 2024-25 season.

     
  • Saudi Arabia combats desertification while also reforesting coasts
     

    The National Center for Vegetation Cover Development and Combating Desertification (NCVC) of Saudi Arabia was established in 2014 by the Council of Ministers to manage and invest in the country’s vegetation cover and combat desertification.

     
  • GCC Population grows 7.3% to 57.6 million
     

    According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.

     
  • With transfer season underway Saudi Professional League evolves strategy
     

    The SPL has shifted from last year’s extensive talent acquisition—where 97 players were signed—to a more strategic approach this season. The Saudi transfer window opened on July 18 and will close on September 2, aligning with European leagues. This change indicates a focus on filling specific gaps and enhancing overall team quality rather than a […]

     
  • KSA sets air traffic records
     

    Saudi Arabia has witnessed remarkable growth in its air traffic during the first half of 2024, according to the General Authority of Civil Aviation (GACA). The Kingdom has reported a significant growth in passenger traffic, flights, air cargo, and connectivity.

     
  • Aquaculture in KSA
     

    Saudi Arabia’s aquaculture sector has witnessed remarkable growth in recent years, with production increasing by 400% between 2015 and 2022. This rapid expansion can be attributed, in part, to a concerted effort from public and private stakeholders to bolster food security in the region, improve economic diversification, and reduce overreliance on food imports.

     
  • NASA Signs US, Saudi Arabia Agreement for Civil Aeronautics, Space Collaboration
     

    The United States and Saudi Arabia signed a framework agreement that opens new possibilities for cooperation with NASA in areas such as space science, exploration, aeronautics, space operations, education, and Earth science. NASA Administrator Bill Nelson signed on behalf of the U.S., and CEO of the Saudi Space Agency Mohammed bin Saud Al-Tamimi signed on behalf […]

     
  • World Bank Lauds KSA for Breakthrough Pension Reforms
     

    Saudi Arabia took a big leap forward in transforming its pension system with the recent announcement of comprehensive reforms, designed with support from the World Bank, aimed at enhancing income protection during old-age, but also promoting gender equality. 

     
  • Buy Now, Pay Later (BNPL) services on the rise in Saudi Arabia
     

    In a recent study, Redseer Strategy Consultants shared that the use of Buy Now, Pay Later (BNPL) services is on the rise in the Middle East. The UAE and Saudi Arabia outscored their regional peers. 

     

MUST-READS

  • Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash

    Described in past years by some attendees as a bonanza for Saudi cash, fund managers who spoke to CNBC this year draw a distinctly different picture as the kingdom simultaneously upholds more requirements for prospective fundraisers and investors, while also facing a revenue crunch amid lower oil prices and production. “Without question, it’s gotten way more competitive to attract money from the kingdom,” Omar Yacoub, a partner at U.S.-based investment firm ABS Global, which manages nearly $8 billion in assets, told CNBC. “Everyone and anyone has been going to ‘kiss the rings,’ so to speak, in Riyadh.”

  • U.S. feared Iran could hit Saudi oil fields

    Israel's strikes, by hitting military targets rather than industrial facilities, have — for now — prevented a wider war. That has been a key goal of President Biden and Secretary of State Tony Blinken since the Oct. 7 terrorist attack on Israel.

  • Why Herve Renard is the perfect appointment for Saudi Arabia after Mancini exit

    In a stirring announcement video posted on social media on Saturday night, Herve Renard was confirmed as the new head coach of the Saudi Arabia national team. His return to the Green Falcons, 19 months after leaving to take charge of the French team at the 2023 FIFA Women’s World Cup on home soil, will be music to the ears of Saudi football fans.

  • Saudi Arabia targets local manufacturing of wind energy towers to enhance renewable energy sector

    Following two strategic agreements signed with Al-Yamamah Steel Industries Co. and Arabian International Co. for Steel Structures, Saudi Arabia seeks to strengthen its position in the wind energy sector by fostering local manufacturing capabilities and facilitating essential knowledge transfer. These agreements were part of 107 deals and memorandums of understanding, collectively valued at $27.69 billion, formalized at the Energy Localization Forum in Riyadh under the auspices of the Ministry of Energy and the LCGPA.

  • Saudi Arabia Expects to Announce $28 Billion of Deals at FII Summit: Video

    Deals worth more than $28 billion are likely to be announced by executives from around the world who’re attending the Future Investment Initiative in Riyadh, Richard Attias, the chief executive officer of the FII Institute tells Joumanna Bercetche

  • Saudi FM receives Somali counterpart in Riyadh

    Saudi Foreign Minister Prince Faisal bin Farhan received his Somali counterpart Ahmed Moalim Fiqi in Riyadh on Sunday. During the meeting, the ministers reviewed Saudi-Somali relations and discussed ways to enhance them in various fields. Regional and international developments and topics of common interest were also discussed.

  • Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B

    Public debt in Africa reached $1.8 trillion in 2022, with such high levels constraining the ability of countries to cope with unexpected crises or invest in development. Jadaan said Saudi Arabia's plans to help Africa with its debt crisis — first proposed during Riyadh's hosting of the G20 in 2020 — have "directly impacted" countries such as Chad, Zambia, Ghana and Ethiopia. "Saudi Arabia believes in the importance of these efforts, and we are committed to continue exerting them," he added. During the 2020 G20 summit, Saudi Arabia called for the suspension of African debt payments. At the inaugural Saudi Arabia-Africa summit in November 2023, Riyadh continued to press for resolving debt issues in Africa.

  • Barclays Considers Re-Entering Saudi Arabia a Decade After Exit

    “We’re looking at how best to re-enter the country,” Venkatakrishnan said. “We will consider corporate banking work, but investment banking and trading will be the focus.” The move to re-enter Saudi Arabia would come a decade after Barclays pulled out of the country under then CEO Antony Jenkins. Venkatakrishnan’s comments come as banks around the world beef up their operations in the oil-rich kingdom, which is in the midst of a trillion-dollar economic transformation plan.

  • Hezbollah elects Naim Qassem as head to succeed Nasrallah

    Lebanese armed group Hezbollah said on Tuesday it had elected deputy head Naim Qassem to succeed Secretary General Hassan Nasrallah, who was killed in an Israeli air attack on Beirut's southern suburb over a month ago. The group said in a written statement that its Shura Council had elected Qassem, 71, in accordance with its established mechanism for choosing a secretary general. He was appointed as Hezbollah's deputy chief in 1991 by the armed group's then-secretary general Abbas al-Musawi, who was killed by an Israeli helicopter attack the following year.

  • UN COP16 nature talks gridlocked as conservation funding trickles in

    Countries were at an impasse over how to fund conservation and other key decisions as the U.N. COP16 biodiversity summit entered its second week on Monday, with nations pledging millions of dollars rather than the billions needed. Seven countries and one provincial government pledged an additional $163 million to the Global Biodiversity Framework Fund on Monday, dubbed the summit's "finance day." The fund was established to help realize the goals laid out in the landmark 2022 Kunming-Montreal Global Biodiversity Framework, aimed at ending nature loss by 2030. COP16 in the Colombian mountain town of Cali is tasked with implementing that agreement.