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  • 2 US-flagged ships with cargo for US Defense Department come under attack by Yemen’s Houthi rebels

    Two American-flagged ships carrying cargo for the U.S. Defense and State departments came under attack by Yemen's Houthi rebels on Wednesday, officials said, with the U.S. Navy intercepting some of the incoming fire.

    The attacks on the container ships Maersk Detroit and Maersk Chesapeake further raise the stakes of the group's ongoing attacks on shipping through the vital Bab el-Mandeb Strait. The U.S. and the United Kingdom have launched multiple rounds of airstrikes seeking to stop the attacks.

  • Almosafer becomes inaugural travel partner of Riyadh Air, CEO reveals

    Saudi ravel company Almosafer has become the inaugural partner of the Kingdom’s new flag carrier, Riyadh Air, according to a senior executive. Speaking to Arab News on the sidelines of the second Saudi Tourism Forum in Riyadh, the CEO of Almosafer – which is part of Seera Group – Muzzammil Ahussain noted that the companies will work together to merge their technologies. The integration aims to ensure that Riyadh Air’s content will be available for customers on the company’s platform.

  • Saudi Arabia charts collaborative path at Davos in meeting with WEF Leaders

    The Saudi delegation to Davos, led by Foreign Minister Prince Faisal bin Farhan, convened with World Economic Forum founder Klaus Schwab and its President Borge Brende during their participation in the forum’s 2024 edition. In the discussion, strategies were evaluated to bolster collaboration between the Kingdom and the World Economic Forum, addressing immediate and future challenges in economic and human development, the Saudi foreign ministry said. Throughout the week, the Kingdom's delegation is set to engage in a number of high-level sessions and bilateral meetings.

  • Analysis: Russian Ally’s Saudi Pivot Threatens to Derail Putin’s Wartime Economy

    Russian President Vladimir Putin's full-scale invasion of Ukraine in February 2022 spurred the West to impose sanctions aimed at isolating Moscow from the global financial system and cut off its revenues to wage its military aggression.

  • US State Department Hails Saudi Arabia’s Efforts in Combating Terrorism

    The state Department praised the Kingdom's efforts to raise standards and measures using modern technologies and tools in the security field, especially in combating terrorism and its financing, the Saudi Press Agency (SPA) reported Wednesday. In its annual report on combating terrorism for 2022, the Department lauded the Kingdom for upgrading the security and international criteria for Saudi passports, adding that the new Saudi passport security features are comparable to the US' next-generation passport.

  • W.Media brings together DC Industry Stalwarts in Saudi Arabia

    Over 100 of the best and brightest of the Middle East's Cloud and Data Center industry came together at the Hyatt Regency, Riyadh Olaya in the capital city of the Kingdom of Saudi Arabia (KSA) for W.Media's maiden edition of Saudi Cloud & Datacenter Convention on December 19. These included industry experts and thought leaders, including C-level executives, digital infrastructure professionals including architects, engineers and consultants (AECs), key buyers, decision makers, data center owners and operators.

  • Saudi investment funds surpass one million participants milestone in Q3

    According to official data, the number of subscribers in public and private investment funds in Saudi Arabia has surpassed one million for the first time. At the end of the third quarter of 2023, there were over 1.126 million subscribers, marking a significant increase compared to the same period last year when the number stood at 677,400. This represents a remarkable 66 percent growth. The real estate sector, encompassing both public and private funds, accounted for the largest number of subscribers, SPA reported.

  • Discovery Dunes Golf Course Lots for Luxury Homes Start Selling in Dubai

    The project is Discovery Land’s first in the Middle East, though Founder and Chairman Michael S. Meldman says he’s negotiating a second property purchase in Dubai and is looking at several sites in Saudi Arabia. It’s a long way from Scottsdale, Arizona, where the company is based, but Meldman says he’s been looking for the right place to build in Dubai for more than 15 years.

  • Saudi Arabia’s NEOM: $500 bln project unveils Utamo to host global mega artists

    Saudi Arabia’s NEOM – the Kingdom’s $500 billion mega business and tourism project – has unveiled Utamo, a new destination for art and entertainment which aims to host performances from the globe’s biggest artists.

    NEOM has billed its latest project as “an innovative and multipurpose event and performance space” featuring VIP lounges, and signature restaurants that aims to make it one of the world’s most exclusive event spaces.

  • Saudi Arabia’s Acwa Power seeks development partners to invest in Africa projects

    Saudi Arabia's Acwa Power is working on a “recipe” to finance sustainable infrastructure projects in Africa, given the continent's opportunities and risks, its chief executive has said. The Riyadh-based company is looking for the best development institutions to work with local governments on the continent and foster dialogue with private investors while ensuring that "proper” guarantees are in place for the investments, Marco Arcelli told The National. “Africa, to me, is very interesting as a case because the most successful developer built 1.5 to 2 gigawatts in 15 years. So, the whole continent is quite fragmented and slow in development,” he said ahead of the Cop28 climate conference in Dubai.