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  • Saudi crown prince appoints new chairman of Small and Medium Enterprises Bank

    Yousef bin Abdullah Al-Benyan was appointed chairman of the board of directors of Saudi Arabia’s Small and Medium Enterprises Bank by Crown Prince Mohammed bin Salman on Thursday. Al-Benyan thanked the crown prince for the confidence he has shown in him, and for his continuing support of small and medium-sized businesses and efforts that help them to achieve financial stability.

  • Saudi Arabia aims for huge new downtown in Riyadh by 2030

    Saudi Crown Prince Mohammed bin Salman on Thursday launched a company to carry out a hugely ambitious development in downtown Riyadh, as part of the leading oil exporter's plans to make its capital a global metropolis and diversify the economy. The kingdom aims to double the size and population of its capital city with total investments of $800 billion under its Vision 2030 plan to modernise the Gulf Arab state and reduce its dependence on oil export revenues.

  • Ukraine: lessons for war in the Middle East and Taiwan

    The tanks and trench warfare in Ukraine may seem old-school, but US experts say the conflict has provided strategic insights into future possible conflicts from the Middle East to Taiwan. They range from the mundane -- the need for bigger weapons stockpiles -- to the high-tech, with Ukraine a proving ground for artificial intelligence and robotic warfare.

  • Saudi Arabia’s PIF raises its stake in Japanese video game firm Nintendo

    Saudi Arabia’s sovereign wealth fund has increased its stake in Japanese video game developing company Nintendo to 7.1 percent  according to a bourse filing. It was in May 2022 that the Public Investment Fund acquired a 5 percent stake in Nintendo, and in January 2023 it increased that to 6.07 percent in line with the Kingdom’s Vision 2030 goal to emerge as a global hub in the gaming industry. Nintendo is one of the most prominent names in the global video games industry, with a portfolio of titles including Pokemon, The Legend of Zelda, and Mario.

  • Opec raises 2023 oil demand forecast as China reopens

    The International Energy Agency expects global oil demand to surge to record levels this year on China’s recovery. Oil demand will rise by 1.9 million bpd to 101.7 million bpd in 2023, said the IEA, which previously estimated a growth of 1.7 million bpd. Meanwhile, the International Monetary Fund recently raised its global economic growth estimate for this year to 2.9 per cent from a previous forecast of 2.7 per cent.

  • Opec raises 2023 oil demand forecast as China reopens

    The International Energy Agency expects global oil demand to surge to record levels this year on China’s recovery. Oil demand will rise by 1.9 million bpd to 101.7 million bpd in 2023, said the IEA, which previously estimated a growth of 1.7 million bpd. Meanwhile, the International Monetary Fund recently raised its global economic growth estimate for this year to 2.9 per cent from a previous forecast of 2.7 per cent.

  • Turkey promises swift reconstruction after earthquake, Syrians seek aid

    Turkey said it would demolish buildings heavily damaged by a huge earthquake last week and swiftly start a mammoth reconstruction effort, with thousands of families struggling to survive amid the rubble and freezing conditions. Rescuers, who flew in to save people trapped in the debris, were starting to pack, although one woman was pulled out of a collapsed building on Wednesday after being buried for 222 hours.

  • Visiting AlUla, Madain Saleh/Hegra, Tabuk, and NEOM: Heritage, Modernity, and Hospitality

    The Kingdom brings to mind images of undulating sand dunes and herds of camels. Upon traveling to the northwest corner of Saudi Arabia, one finds a lush, date-palm oasis surrounded by tall cliffs. Covering nearly 9,000 square miles, AlUla is about the same size as New Jersey. A long cut in the region’s cliffs, reminiscent of the Grand Canyon in Arizona, provided a passageway for ancient caravan traders. Its palm forests provided travelers food, shelter, and a place to rest their camels. In AlUla, date palms have thrived since the first millennium BCE, contributing to the region’s status as a cultural oasis and vital stopping point on the ancient spice and incense trade routes.

  • Visiting AlUla, Madain Saleh/Hegra, Tabuk, and NEOM: Heritage, Modernity, and Hospitality

    The Kingdom brings to mind images of undulating sand dunes and herds of camels. Upon traveling to the northwest corner of Saudi Arabia, one finds a lush, date-palm oasis surrounded by tall cliffs. Covering nearly 9,000 square miles, AlUla is about the same size as New Jersey. A long cut in the region’s cliffs, reminiscent of the Grand Canyon in Arizona, provided a passageway for ancient caravan traders. Its palm forests provided travelers food, shelter, and a place to rest their camels. In AlUla, date palms have thrived since the first millennium BCE, contributing to the region’s status as a cultural oasis and vital stopping point on the ancient spice and incense trade routes.

  • Saudi aid plane lands in Syria’s quake-stricken Aleppo

    A Saudi aid plane landed in Syria’s quake-stricken Aleppo on Tuesday, Syrian state media says, in first reported arrival from the Kingdom to government-held areas. The plane which departed King Khalid International Airport at dawn is carrying 35 tons and 322 kilograms of medical aid, food and shelter kits, according to the official Saudi Press Agency (SPA).