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  • Saudi Arabia, Italy Join Forces to Transform Europe’s Energy Landscape

    Saudi Investment Minister Khalid Al-Falih emphasized Italy’s crucial role in facilitating the export of these energy products to Europe. Speaking at a business conference in Milan, Al-Falih described Italy as a “partner of choice” for delivering green products to the European continent. This collaboration aligns with the European Union’s goal of producing and importing 20 million tonnes of green hydrogen by 2030.  

  • India’s EV maker Wardwizard Innovations to form joint venture in Saudi Arabia

    Indian electric vehicle maker Wardwizard Innovations and Mobility (WARW.BO), opens new tab announced on Friday it received a letter of intent to form a joint venture in Saudi Arabia, aiming to establish an assembly plant and an EV cell plant in the kingdom. The assembly plant will initially focus on producing electric two-wheelers, three-wheelers and four-wheelers, with plans to expand in the future to include electric bus production.

  • Greece and Saudi Arabia in Talks to Avert Massive Oil Spill from Stricken Tanker

    The tanker remains on fire, and with each passing day, the risk of its 1 million barrels of oil spilling into the sea is increasing. Private salvage companies have concluded that the conditions are too dangerous to proceed with towing operations. With the private sector efforts stalled, Greece and Saudi Arabia are now holding talks to explore alternatives. One option being considered is to pump the oil directly out of the ship on-site. Another is to tow the vessel, despite the risks, to a Saudi port, likely Jeddah.

  • Trump edges out Williams for Saudi Arabia title

    World number one Judd Trump won a dramatic final frame on the black to beat Mark Williams and lift the inaugural Saudi Arabia Masters title. The 35-year-old Englishman cleared up with a break of 72 to clinch the final 10-9 after Williams missed a red when 62 ahead. Trump, who was checking flights home at 4-0 down to Wu Yize in his first match of the tournament, claimed £500,000 for winning the first ranking event to be held in Saudi.

  • Construction licenses drive investment surge in Saudi Arabia; Egypt secures 30% of total share in Q2

    Construction permits led Saudi Arabia’s investment licenses in the second quarter of 2024, with 737 issued, representing 27 percent of the total, according to official data. Figures from the Kingdom’s Ministry of Investment quarterly report also revealed that this number represents a 32.1 percent increase compared to the same period last year. Saudi Arabia is aiming to increase foreign direct investment inflows by SR388 billion annually by the end of the decade, contributing 5.7 percent to GDP,  as part of its Vision 2030 economic diversification strategy.

  • Can Saudi Arabia Actually Afford Vision 2030?

    In other words, the suggestion that Saudi Arabia is in trouble because it cannot make the ends of its planned budget meet is accurate—up to a point. The megaprojects can be delayed, as they have been before when the price environment was sub-optimal. Money can also be drawn from international debt markets where Saudi bonds appear to enjoy substantial popularity, not unlike Aramco shares. Oil-dependent economies, it seems, still draw investors in, transition and non-OPEC output growth notwithstanding.

  • Saudi Arabia’s non-oil economy grows 4.9% in Q2: GASTAT

    According to data from the General Authority for Statistics (GASTAT), and published by Arab News, the financial, insurance, and business services sectors surged 7.1 percent in the second quarter compared to the same period last year.

  • Hitting the beat: Why Anderson .Paak filmed ‘K-Pops!’ in Saudi Arabia’s AlUla

    Produced by US outfit Stampede Ventures with backing from Live Nation Productions, the comedy- drama project spent three days shooting in Saudi Arabia’s AlUla region in May 2024, taking advantage of the country’s attractive financial incentives, striking locations and increasingly skilled local crews.

  • Saudi Arabia executes three citizens for inciting terrorism

    According to the ministry, the three nationals were accused of “providing support to terrorist entities, communicating with them, adopting a terrorist approach that permits the shedding of blood, money, and honor, and inciting people to carry out terrorist acts with the aim of undermining the security and stability of society.

  • Saudi Arabia exceeds Vision 2030 target of attracting 100 mln tourists: IMF report

    The Kingdom’s tourism revenues reached $36 billion in 2023, with net tourism income increasing by 38 percent. The sector’s direct and indirect contribution to GDP reached 11.5 percent in 2023, with expectations to grow to 16 percent by 2034, according to the report published on Wednesday.