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  • Qatari Investment Authority close to buying stake in Wizards, Capitals, Mystics: Sources

    The NBA and NHL are on the precipice of being the first North American professional sports leagues to receive an investment from a sovereign wealth fund. The Qatari Investment Authority, the country’s sovereign wealth fund, is close to buying a stake in Monumental Sports and Entertainment, the parent company of the Washington Wizards, Washington Capitals, and Washington Mystics, sources briefed on the deal told The Athletic.

  • Airstrike in Sudan’s capital kills 17 people, including five children, hours before US and Saudi Arabia broker ceasefire

    At least 17 people were killed, including five children, after an airstrike hit a residential area in Sudan’s capital Khartoum on Saturday, according to the country’s health ministry, hours before the United States and Saudi Arabia announced a 72-hour ceasefire. At least 25 houses were destroyed in the airstrike that hit the Yarmouk district, the ministry said on its Facebook page, where they posted a video showing residents pulling out dead bodies from under the rubble. The paramilitary Rapid Support Forces (RSF) accused the Sudanese Armed Forces (SAF) of the airstrikes on the Mayo, Yarmouk and Mandela neighborhoods in Khartoum, RSF said on social media.

  • How the Saudi Pro League transformed from being unknown to inescapable

    The transformation of these clubs into companies signals the beginning of a broader privatization project, as SPL clubs were formerly under the control of the Saudi Ministry of Sports, with the SPL teams heavily relying on the ministry for financial support. According to a tweet by the PIF, this privatization process would allow soccer and other sports to grow through the attraction of new investments and sponsorships, including from the private sector.

  • How the Saudi Pro League transformed from being unknown to inescapable

    The transformation of these clubs into companies signals the beginning of a broader privatization project, as SPL clubs were formerly under the control of the Saudi Ministry of Sports, with the SPL teams heavily relying on the ministry for financial support. According to a tweet by the PIF, this privatization process would allow soccer and other sports to grow through the attraction of new investments and sponsorships, including from the private sector.

  • Blinken’s Visit to Saudi Arabia Caps Biden Effort to Rebuild Ties

    By the time Secretary of State Antony J. Blinken wrapped up a visit to Saudi Arabia on Thursday, he and Saudi officials had discussed cooperation on a smorgasbord of issues: Iran, Sudan, the Islamic State, regional infrastructure, clean energy and the potential normalization of Saudi-Israel relations. Mr. Blinken gave effusive remarks on the work being done at a news conference in Riyadh: “It is critical for expanding opportunity and driving progress for our people and for people around the world.”

  • Saudi Arabia Continues Sports Landscape Development with New Draft Sports Law

    Saudi sports clubs have until now existed in an ill-defined legal area as neither corporations nor non-profits. For the first time, this draft law establishes legal definitions for clubs and other sports entities. It also allows for the establishment of these entities in accordance with corporate law and sets out the legal responsibilities and governance rules for their executives and board members. Furthermore, the draft law establishes the licensing rules for sports facilities, competitions, institutions, academies, and training programs, as well as the basis for the Ministry of Sport to provide public sector financial support to these entities.

  • Saudi Arabia Continues Sports Landscape Development with New Draft Sports Law

    Saudi sports clubs have until now existed in an ill-defined legal area as neither corporations nor non-profits. For the first time, this draft law establishes legal definitions for clubs and other sports entities. It also allows for the establishment of these entities in accordance with corporate law and sets out the legal responsibilities and governance rules for their executives and board members. Furthermore, the draft law establishes the licensing rules for sports facilities, competitions, institutions, academies, and training programs, as well as the basis for the Ministry of Sport to provide public sector financial support to these entities.

  • Turkish Elections in a Post-Truth Political Landscape

    The event looked like a repeat for spectators watching live at home, but with only one exception: Erdoğan was not the winner of the elections. In his preemptive victory speech, made as the votes were still being counted, Erdoğan accused the opposition of being in a rush to make false claims about the results. This accusation perfectly demonstrated Erdoğan’s masterful political skills: while claiming that the opposition was trying to turn the election into a fait accompli, he was doing exactly the same thing by giving an early victory speech.

  • Saudi Arabia is the political capital of Middle East, Al-Falih says

    He noted that the Kingdom has been the convener of leaders from the regions and abroad, which have been seen and witnessed during the visits of world leaders, such as the recent one of the most successful Arab Summits in history, as well as resolving many issues within the Arab world including a ceasefire in Sudan. “All of this is good for the entire Arab region as a whole, but specifically it will be very beneficial for the integrated GCC economies,” Eng. Al-Falih said.

  • Hotel room capacity in Saudi Arabia to triple to 450,000 by 2030

    With a current supply of around 134,000 hotel rooms, Saudi Arabia today lags Dubai (currently 140,000 keys) and other major tourism destinations. But fast forward seven to eight years, and the kingdom is expected to have leapfrogged many of its rivals, with 315,000 new hotel rooms expected to lift total supply to 450,000 by 2023. “The volume of hotel room keys planned to be delivered in the kingdom by 2030 is nothing short of incredible,” said Faisal Durrani, a partner at Knight Frank and Head of Research for the Middle East. The total cost of the hotel room revolution is forecasted at $37.8 billion.