Washington is steering some of this shift, using the industry to push the region away from China’s orbit and focusing particularly on the UAE, a key U.S. security partner. The White House hosted executives from firms including Microsoft, Google and OpenAI last June for a meet-and-greet with Tahnoun bin Zayed al Nahyan, UAE’s national security adviser.
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Report: China, Eying Increased Influence in the Middle East, Presses Iran to Rein in Houthi Attacks in Red Sea – Reuters
A recently-published Reuters report says that top Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, citing four Iranian sources and a diplomat familiar with the matter.
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Zardun at NEOM the Latest Tourism Offering from Futuristic Giga-Project
Saudi Arabia’s NEOM recently announced the launch of another tourism destination, called Zardun, which bills itself as a luxury ecotourism area and “exclusive sanctuary resort.”
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Saudi Arabia is Set to Open the Country’s First Liquor Store in Major Shift
Saudi Arabia is set to open the country’s first liquor store, catering exclusively to diplomats, breaking with decades of strict alcohol prohibition in the kingdom and creating a pathway for greater access to alcohol for non-Muslims in the near future, Reuters reports.
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Saudi Real Estate Prices to Rise 25-40%, Premium Residency a Unique Opportunity – Al Rahji Executive
A Sales Director at Al Rajhi Investment Co. said real estate prices in Saudi Arabia are likely to rise by 25% to 40% in the coming period, Asharq News reported.
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A new slogan for Saudi Arabia? Taking stock of the Saudi Pro League, and much more – The 966 Episode 119
In Episode 119, The 966 hosts Lucien and Richard discuss a variety of topics and some of the latest news and developments on Saudi Arabia.
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Innovative Prince Mohammed Bin Salman Stadium in Qiddiya, Saudi Arabia Departs from Stadium Design Norms
A new and innovative stadium design at Qiddiya, the entertainment mega-city outside of Saudi Arabia’s capital Riyadh, is set to provide a fresh take on design for sports and entertainment venues.
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U.S. Continues Campaign to Secure Critical Red Sea Trading Route with Terrorist Designation for Houthi Groups
The U.S. government on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups as Washington seeks to halt attacks on international shipping in the Red Sea, according to a report in Reuters.
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At Davos, Kingdom Pushes Diplomacy and PIF Talks 2024 Investment Strategy
Saudi Arabia’s strong presence at the World Economic Forum in Davos, Switzerland is emblematic of an increasingly confident Kingdom on the global stage, with top officials from both the government and Saudi Arabia’s Public Investment Fund on the ground to promote Saudi Arabia’s interests.
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Saudi Arabia Invites Developers for 3.7 GW of Solar Projects
Saudi Arabia is seeking to award four solar projects with a combined capacity of 3.7 GW as part of the fifth round of its National Renewable Energy Program (NREP), with the Saudi Power Procurement Company (SPPC) opening the qualification process for companies interested in the development of the four projects, according to a report in renewablesnow.com.
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The evolution of Saudi Arabia’s public diplomacy with Rayan Alyusufi
The 966 speaks with Rayan Alyusufi, a young Saudi researcher in public diplomacy and international communication to discuss the Kingdom’s public diplomacy, “sharp power,” and evolution of Saudi as an emerging diplomatic player. Rayan is a PHD Candidate at Bournemouth University in the United Kingdom.
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How the authoritarian Middle East became the capital of Silicon Valley
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Power Broker Behind Saudi Golf Deal Resigns From PGA Tour Board
In a pointed letter to his fellow policy board members, Dunne defended the framework deal with the Saudis, writing that “unifying professional golf is paramount to restoring fan interest and repairing wounds left from a fractured game.” He also cited how he hasn’t been asked to take a role in the negotiations with Saudi Arabia’s Public Investment Fund over the past 11 months and that “no meaningful progress has been made toward a transaction with the PIF.”
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Saudi Economic ‘Overheating’ Fears Emerge as Constraint
The economic makeover, known as Vision 2030, has been hitting some snags eight years after being unveiled by Crown Prince Mohammed bin Salman. Al-Jadaan has previously acknowledged that there may be delays or acceleration for some projects.
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Sullivan plans talks in Saudi Arabia, Israel amid tensions over Rafah
National Security Adviser Jake Sullivan plans to travel to Saudi Arabia and Israel this weekend amid the rising tensions over the Israeli military operation in Rafah, three U.S. and Israeli officials with knowledge of the plans tell Axios.
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Saudi Arabia ‘conservative’ on oil revenue as it pares back Vision 2030 plans
Speaking at the Qatar Economic Forum in Doha on Tuesday, Jaadan warned that being a resource-rich country was a curse as well as a blessing because being dependent on one commodity such as oil can hold a country "hostage" to the volatility of global demand and prices. "We are not complacent; obviously we need to push through the momentum of reforming and transforming our economy, but we see the results," he added.
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Sunak: British, Saudi trade exchange crosses $21 billion
British Prime Minister Rishi Sunak revealed that trade exchange between the United Kingdom and Saudi Arabia exceeded 17 billion pounds ($21 billion). “Today we are launching the next phase of the deep and growing partnership between Saudi Arabia and the United Kingdom. Over the next two days, we will hear from Saudi leaders and companies about how to make Vision 2030 a reality, and the tremendous opportunities it presents to all of us,” he said while addressing, through a video conference, the opening session of the GREAT Futures Initiative Conference, which kicked off at the King Abdullah Financial District in Riyadh on Tuesday.
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Saudi Arabia expands PPP pipeline
Speaking at the MEED Mena Construction Summit in Riyadh, Badr said that NCP has a “healthy pipeline” of over 200 approved projects in different stages of development. He noted that another 300 projects are currently under review. It is understood that the pipeline includes more than 180 schools, following the award of contracts to develop and operate 60 schools each in Jeddah and Medina in 2020 and 2022. “New sectors like healthcare and education have been opened up for public-private partnerships beyond the traditional water and power sectors,” said Badr.
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Seven and Qiddiya combine to form Saudi entertainment giant
Saudi Entertainment Ventures (Seven) and Qiddiya Investment Company (QIC) are combining to become a lifestyle and entertainment giant in Saudi Arabia. Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya, which remains wholly owned by the PIF. By transferring ownership of Seven to Qiddya, the PIF aims to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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Saudi Arabia Diversifying Air Defenses And Boosting Local Industries
Lockheed Martin awarded two subcontracts to Saudi Arabia’s defense industry in February. Under these subcontracts, Saudi companies will manufacture the interceptor canister and missile round pallet for the Terminal High Altitude Area Defense system. These subcontracts make Saudi Arabia the first country outside the United States to produce THAAD components locally.
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Unemployment rate in Saudi Arabia’s labor market at 8.6 percent, women’s participation reaches 34.2 percent
The unemployment rate dropped from 12.8 percent in 2017 to 8.6 percent in the third quarter of 2023
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