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  • Saudi Aramco backs Brooklyn-based startup turning ammonia into fuel

    The heavy duty trucking industry alone accounts for almost a quarter of all greenhouse gas emissions from transportation. Emissions from shipping increased nearly 10% from 2012 to 2018, according to the International Maritime Organization. Ships release nearly 1 billion metric tons of carbon dioxide each year, which is about equal to the annual carbon outputs of Texas and California combined.

  • Parsons confirmed delivery partner for 170km The Line at NEOM, Saudi Arabia

    Parsons’ framework agreement for consultancy services on The Line includes project and construction management services for the design, procurement, construction, testing and commissioning of the project.

  • What’s Next for the Saudi Regional Headquarters Program?

    On January 6, the Saudi Ministry of Finance issued a new set of controls sharply limiting the ability of Saudi government agencies to do business with multinational companies that do not have regional headquarters in Saudi Arabia. The controls, which will enter effect on January 1, 2024, allow for only very narrow exemptions.

  • Prince Abdulaziz calls on global oil companies to move their headquarters to Dhahran

    Prince Abdulaziz made these remarks during his speech in the seventh edition of iktva exhibition 2023. He said that the energy localization programs, specifically iktva, Nusaned, and Binaa have enabled many international partners to collaborate in launch of more than 200 manufacturing facilities, thus, ”We want more.” He said that moving the regional offices is a dream of the past, but the hope today and tomorrow is to move the global headquarters to Dhahran.

  • Chart: IMF Upgrades Global Growth Forecast as Inflation Cools

    The International Monetary Fund published its latest World Economic Outlook on Monday, painting a slightly less gloomy picture than three and a half months ago, as inflation appears to have peaked in 2022, consumer spending remains robust and the energy crisis following Russia’s invasion of Ukraine has been less severe than initially feared. That’s not to say the outlook is rosy, as the global economy still faces major headwinds. However, the IMF predicts the slowdown to be less pronounced than previously anticipated.

  • Chart: Where Corruption Is Rampant

    Transparency International has released its 2022 Corruption Perceptions Index which gauges levels of perceived public sector corruption in 180 countries and territories around the world. The index scores them on a scale of zero (highly corrupt) to 100 (clean) with the average score just 43 out of 100. More than two thirds of countries scored lower than 50, as 155 countries have made "no significant progress against corruption over the last decade." The last edition of the research found that anti-corruption efforts have stalled of late, as many countries used the Covid-19 pandemic "as an excuse to curtail basic freedoms and side-step important checks and balances."

  • Saudi Arabia’s Wa’ed Ventures Invests In Paris-Based Pasqal And Tokyo-Based Terra Drone As Part Of Its New Global Agenda

    Saudi Aramco-owned venture capital firm Wa'ed Ventures has announced two global investments, which includes partaking in a US$108 million equity Series B round raised by Paris-based quantum computing startup Pasqal, as well as leading a $14 million bridge round for Japan-based drone and urban air mobility technology company Terra Drone. The latter marks Wa'ed Ventures' first foray into the Asian market.

  • Heart of Arabia explorers complete mammoth 1,300km trek across Saudi Arabia

    A team of explorers finished their four-week, 1,300km trek across Saudi Arabia on Monday. The Heart of Arabia expedition set off from Al Uqair on the east coast in November and travelled by foot and camel with vehicles in support to Jeddah on the Red Sea, including a break in Riyadh in December. The route took them across the vast deserts of Saudi Arabia, with hot days and bitterly cold nights, and across lava fields, muddy valleys and steep rock faces. “It's been just brilliant, an utterly wonderful experience. We feel so grateful to have had such amazing support,” said the expedition’s leader, Oman-based British explorer Mark Evans.

  • Heart of Arabia explorers complete mammoth 1,300km trek across Saudi Arabia

    A team of explorers finished their four-week, 1,300km trek across Saudi Arabia on Monday. The Heart of Arabia expedition set off from Al Uqair on the east coast in November and travelled by foot and camel with vehicles in support to Jeddah on the Red Sea, including a break in Riyadh in December. The route took them across the vast deserts of Saudi Arabia, with hot days and bitterly cold nights, and across lava fields, muddy valleys and steep rock faces. “It's been just brilliant, an utterly wonderful experience. We feel so grateful to have had such amazing support,” said the expedition’s leader, Oman-based British explorer Mark Evans.

  • Islamic Arts Biennale in Jeddah, Saudi Arabia

    With a scenography designed by OMA / Iyad Alsaka and Kaveh Dabiri, the first edition of the Islamic Biennale has opened in Jeddah, hosted by the Diriyah Biennale Foundation. Artworks are displayed over 120,000 square meters of exhibition spaces, taking over the Western Hajj Terminal, designed by Skidmore, Owings & Merrill (SOM) and winner of the Aga Khan Award in 1983.