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  • PGA’s Jay Monahan and PIF’s Yasir Al Rumayyan break down surprise deal to merge PGA and LIV: Video

    CNBC’s David Faber sits down with PGA Tour Commissioner Jay Monahan and Yasir Al Rumayyan, governor of the Saudi Public Investment Fund (PIF), to break down how two golfing entities come in agreement to merge, to form a new, yet-to-be-named for-profit company.

  • IAEA denies watering down standards in Iran investigation

    The U.N. nuclear watchdog's chief denied on Monday that his agency had watered down its standards in an investigation into past Iranian activities after Israel accused it of "capitulation to Iranian pressure". The dispute centres on the International Atomic Energy Agency's years-long investigation into the origin of uranium particles found at three undeclared Iranian sites, most of which appear to have been active around two decades ago.

  • Saudi fitness instructor Manahel al-Otaibi targeted in crackdown on dissent in kingdom

    Al-Otaibi has been detained since November 2022. Her case has become prominently known in recent days as activists decided to go public. She faces trial in Saudi Arabia's Specialized Criminal Court, which was established to hear terror cases but now also weighs charges against activists.

  • Barbara Leaf downplays reports of imminent Saudi-Israeli normalization

    “There’s a lot of misreporting and a lot of hyperventilation in the press, a lot of excitable rumint, I would say, in the press, especially in the Israeli press. They’re just electric with the idea that Saudi Arabia might take that step,” Leaf told a Senate Foreign Relations subcommittee on Wednesday.

  • The Slowing Down of Israel-Arab Relations Under the Netanyahu Government

    During the Netanyahu government’s first five months, Israel-Arab ties have slowed down and tensions with the Palestinians have increased.

  • F1 News: CEO Shoots Down Saudi Arabian Takeover As Sport Flourishes

    While Saudi Arabia's involvement in F1 has been increasing recently with the introduction of the Saudi Arabian Grand Prix, speculations about a potential takeover of the entire series have sparked debates and discussions within the motorsport community. Now, Liberty Media CEO Greg Maffei has spoken out on the topic, shooting down the rumour of a sale. FIA president, Mohammed Ben Sulayem, previously commented on the rumoured $20 billion price tag associated with the Saudi Arabian Public Investment Fund, labelling it as "inflated," which garnered mixed reactions.

  • Saudi Arabia’s Aramco names presidents for upstream and downstream businesses

    Saudi Arabian oil giant (2222.SE) Aramco on Thursday named Nasir al-Naimi and Mohammed Al Qahtani as presidents of its upstream and downstream businesses, respectively, in a move designed to support the company's growth plans. The newly created positions and appointments, which have been approved by the board, will be effective from July 1, the state oil company said. "We expect this decision to help drive operational and financial performance, supporting our upstream capacity growth and our downstream expansion," Aramco President and Chief Executive Officer Amin Nasser said in a statement.

  • Saudi Arabia Doubles-Down on Investment in Electronic Arts

    Saudi Arabia’s sovereign wealth fund has increased its stake in Electronic Arts, building upon its massive $38 billion already invested in the video game industry. The Kingdom’s Public Investment Fund has increased its shares in Electronic Arts by 55%, going from owning 16.01 million shares to now 24.81 million shares, according to a financial filing observed by Seeking Alpha. EA’s sports titles include Madden NFL, EA Sports PGA Tour, NHL, F1, and FIFA—though future installments of the popular soccer series will be branded as EA Sports FC after EA and FIFA failed to agree to a new licensing agreement.

  • Saudi Arabia Doubles-Down on Investment in Electronic Arts

    Saudi Arabia’s sovereign wealth fund has increased its stake in Electronic Arts, building upon its massive $38 billion already invested in the video game industry. The Kingdom’s Public Investment Fund has increased its shares in Electronic Arts by 55%, going from owning 16.01 million shares to now 24.81 million shares, according to a financial filing observed by Seeking Alpha. EA’s sports titles include Madden NFL, EA Sports PGA Tour, NHL, F1, and FIFA—though future installments of the popular soccer series will be branded as EA Sports FC after EA and FIFA failed to agree to a new licensing agreement.

  • Middle East maintains IPO momentum into 2023, EY says, despite slowdown

    "MENA IPOs continue to go against global trends in these uncertain economic times, building on the momentum from last year," Brad Watson, EY's Middle East and North Africa (MENA) strategy and transactions leader, said in a statement. Middle East companies last year raised some $21.9 billion through IPOs, Dealogic data shows, more than half the total for the Europe, Middle East and Africa region. MENA saw a 33% drop in the number of IPOs and a 14% fall in value in the first quarter from the year-prior period.