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  • As the LPGA surges with Rose Zhang, Saudi Arabia’s PIF could help itself by forging a partnership

    In less than a month on the professional golf scene, Zhang has placed a spotlight on the women’s game and the LPGA Tour as the PGA Tour considers a new relationship with the Public Investment Fund (PIF), the Saudi Arabia sovereign wealth fund that is backing LIV Golf. Since its inception in 1950, the LPGA Tour has operated in the shadow of the men’s game and the economic and popularity disparities between the two organizations are certain to widen with the infusion of PIF money.

  • Hajj pilgrimage starts in Saudi Arabia, with 2 million expected after lifting of COVID measures

    Some 2 million Muslim pilgrims officially began the annual Hajj pilgrimage on Monday, making their way out of Mecca after circling Islam’s holiest site, the Kaaba, and converging on a vast tent camp in the nearby desert for a day and night of prayer. One of the largest religious gatherings in the world has returned to full capacity this year for the first time since the onset of the coronavirus pandemic three years ago. The pilgrimage is one of the five pillars of Islam, and all Muslims are required to make the five-day Hajj at least once in their lives if they are physically and financially able to do it.

  • Arbitration in the Kingdom of Saudi Arabia Part 3 – The SCCA Arbitration Rules 2023

    Following Mayer Brown and Al Akeel & Partners’ alliance in May 2022, we are delighted to launch this joint series about arbitration in the Kingdom of Saudi Arabia.

  • Biden adviser in Saudi Arabia as part of Israel normalization push

    Amos Hochstein, President Biden's senior adviser for energy and infrastructure, is visiting Saudi Arabia this week for talks with senior Saudi officials, two sources familiar with the trip tell Axios. Why it matters: Hochstein’s trip is part of the diplomatic push by the White House to try to reach a set of agreements that would upgrade U.S.-Saudi relations and include a normalization deal between Saudi Arabia and Israel.

  • Saudi Arabia charts the first-ever coastal tourism map of Red Sea  

    Tourists traveling to The Red Sea Project can expect better mobility and accessibility options as Saudi authorities are developing the Kingdom’s first geographical navigation map that charts the scope of marine tourism in the coastal area. The Saudi Red Sea Authority and the General Authority for Survey and Geospatial Information have partnered with 19 government agencies to develop the first-ever coastal tourism map of the Red Sea.

  • Saudi Arabia and South Korea launch $160 million startup fund

    To enhance startup support and investment cooperation, South Korea and Saudi Arabia have announced the creation of a joint fund worth $160 million (approximately 208.4 billion won). The establishment of this fund is a follow-up measure to the “MOU for Investment Cooperation and Startup Support between South Korea and Saudi Arabia,” which was signed during a visit by Crown Prince Bin Salman of Saudi Arabia to Korea in November of the previous year. The signing ceremony took place at the Crown Plaza Hotel in Riyadh, Saudi Arabia. Minister Lee Young attended it from the Ministry of SMEs and Startups and Yousef Al Benyan, Chairman of the Board of Directors of Saudi Small and Medium Business Bank. The joint fund was established by investing $10 million (13 billion won) in an existing fund worth $150 million (195.4 billion won), in which Saudi Arabia is a major investor. An additional $160 million (208.4 billion won) was raised, with participation from Saudi Venture Investment (SVC) and Saudi National Wealth Fund (PIF Jada).

  • China and Saudi Arabia are part of a multipolar world order: Minister

    Saudi Arabia sees China as a key partner in a multipolar world — with the two countries expected to only come closer as their common interests grow, Saudi Minister of Investment Khalid Al-Falih told CNBC. “This is, in a way, a multipolar global order that has emerged — it’s not emerging. China is a significant player in it,” Al-Falih told CNBC’s Dan Murphy during the Arab-China Business Conference in Riyadh Tuesday, now in its 10th year. A multipolar world in this context signifies a global system that isn’t dominated by the West or defined as a struggle between two major powers, as it was during the Cold War.

  • Saudi Arabia is requiring companies to establish headquarters in the kingdom. That strategy may pay off. 

    The Saudi government requires foreign companies to reinvest some of their profits in society, as well as train and transfer knowledge to locals. As former US National Security Advisor Stephen Hadley explained to me: “Companies that want to be successful in Saudi Arabia need to make sure their plans align with the objectives of Vision 2030 in terms of creating jobs and training people, because that’s what the country’s leadership is looking for. Fortunately, this is something American companies are very good at.”

  • Saudi Arabia is requiring companies to establish headquarters in the kingdom. That strategy may pay off. 

    Albright Stonebridge Gulf Cooperation Council Regional Manager Imad Al-Abdulqader explained to me that: “The government sees this as a long-term effort, and wants to shift decision-making personnel to Saudi Arabia because it believes that if senior company leaders live there, this will allow them to see the opportunities and grow their business in a way that benefits the companies and the country instead of what is seen currently as a transactional relationship for many companies that have benefited from government procurement for decades despite hardly any economic footprint in the country.”

  • Opinion: Saudi Arabia’s high-profile sports blitz is off to a mixed start

    Setbacks notwithstanding, Saudi Arabia is set to make a continued splash with its high-profile, well-funded sports initiative that also includes the hosting of multiple global and regional events such as this year’s FIFA Club World Cup, the 2027 Asian Cup, and chess, boxing, and horseracing tournaments as well as potential bids for the acquisition of Formula 1 and World Wrestling Entertainment.