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  • DAZN Sells Minority Stake to Saudi Arabia’s Surj Sports Investment in Landmark $1 Billion Deal

    The long-gestating deal — widely believed to involve PIF paying $1 billion in exchange for 10 per cent of DAZN — gives Saudi Arabia a piece of DAZN, which in the Middle East and North Africa (MENA) region rivals powerhouse beIN Sports, from neighboring Qatar. Qatar, incidentally, hosted the FIFA soccer World Cup in 2022, while Saudi Arabia will be hosting the 2034 edition of that event.  Founded in 2007, London-based DAZN, which has been dubbed the “Netflix of sports,” is now operating in more than 200 markets, having gone on a systematic sports rights’ buying spree that caused the streamer to report a £1.2 billion ($1.51 billion) loss for 2023. The deal with Surj Sports will certainly help shore up DAZN’s finances.

  • What We Learned From High-Stakes U.S.-Russia Talks In Saudi Arabia

    The more than four-hour meeting in Riyadh -- which was attended by U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov -- is part of a major diplomatic push by the United States to bring the war to an end. The discussions were framed by U.S. officials as exploratory talks that could pave the way for a potential in-person meeting between U.S. President Donald Trump and Russian President Vladimir Putin. These comprise fully restoring their diplomatic missions in Washington and Moscow after years of sanctions and expulsions, appointing a high-level team to negotiate an end to the war in Ukraine, exploring further "geopolitical and economic cooperation that could result from an end to the conflict in Ukraine," and ensuring that the U.S. and Russian delegations present in Riyadh will remain engaged in discussions moving forward.

  • Who are the Russian officials meeting with US team in Saudi Arabia?

    Lavrov, aged 74 and in office since 2004, is Moscow's longest-serving foreign minister since Soviet times. A graduate of the prestigious Moscow State Institute of International Relations (MGIMO), he speaks fluent English and French and also Sinhalese, having worked as a Soviet diplomat in Sri Lanka.  Before becoming foreign minister, Lavrov was Russia's permanent representative to the United Nations. He can be acerbic, especially with interlocutors whom he considers poorly prepared, but also dour, once remarking: "I am not paid to be an optimist."

  • Saudi Arabia’s Evolving Regulatory Framework for the Technology and Data Economy

    Saudi Arabia’s commitment to digital transformation is a cornerstone of its Vision 2030 initiative, which aims to diversify the economy and position the Kingdom as a global technology hub. With 66 out of the 99 Vision 2030 goals linked to data and Artificial Intelligence (AI), the country is witnessing a rapid evolution of its regulatory framework to facilitate technological innovation and investment. Businesses operating in Saudi Arabia’s technology and data sectors must navigate an increasingly complex legal landscape to ensure compliance and seize emerging opportunities. Below, we explore recent developments shaping the regulation of Saudi Arabia’s technology and data economy.

  • Saudi Arabia’s crown prince wins points for hosting the Russia-US summit on Ukraine

    Crown Prince Mohammed now finds himself at the center of the Trump administration’s outreach to Russia, a country Saudi Arabia carefully maintained ties to during the war through the OPEC+ oil cartel. And with Trump suggesting his first meeting with Russian President Vladimir Putin — something Moscow hopes can bring it in from the cold of Western nations — will take place in Saudi Arabia, Prince Mohammed is likely to remain a top player. In the Saudi-owned, London-published newspaper Asharq Al Awsat, journalist Mishari al-Dhaidi described Tuesday’s U.S.-Russia summit as “restoring dialogue between the two poles of the world.” He called it “a major step on the international political chess arena, revealing the status of Saudi Arabia and its positive influence for the benefit of the people all the people.”

  • Emirati and Saudi Ambitions for Next-Generation Fighters

    On September 14, 2024, a senior Emirati official dismissed reports about the country’s interest in resuming long-deadlocked negotiations to purchase Lockheed Martin’s F-35 Lightning II aircraft should Donald J. Trump secure a second presidential term. However, Trump’s return to the White House in January has reignited questions regarding the potential for a resumption of talks. Meanwhile, in mid-October 2024, a Saudi military delegation, led by Royal Saudi Air Force Commander Turki bin Bandar al-Saud, made a state visit to Turkey, where it met with top figures in the defense sector, including Defence Industries Agency Chairman Haluk Gorgun and Turkish Aerospace Industries officials. Rich in symbolism is the picture portraying the Saudi commander and Defence Industries Agency chief alongside a KAAN aircraft – Turkish Aerospace Industries fifth-generation fighter jet. Two months later, several media outlets circulated news about Saudi Arabia’s intention to procure a hundred KAAN units.

  • Saudi Arabia to host first-ever Olympic Esports games in 2027: Video

    The first-ever Olympic Esports games will be held in Saudi Arabia in 2027. The IOC hasn’t released which games will be apart of the event yet. NBC News’ Dana Griffin spoke with professional Esports player, Alvin Avila who shared his excitement for the games. 

  • Saudi stock exchange expects to have a record year of listings in 2025, CEO says

    More than 50 applications are currently under review by the regulator and the exchange, Al-Rumaih said, adding that around 100 applications are with advisors waiting to be submitted to the regulator. Fifteen IPO applications have been approved, Al-Rumaih said, speaking on the sidelines of the Capital Markets Forum in Riyadh. Saudi Arabia’s bourse is the Gulf Arab region’s largest, with average traded value of over $1 billion. The market opened up to foreign investors in 2015. A run of IPOs in the Gulf is due partly to local governments’ economic diversification strategies and listings by private groups and family businesses.

  • Saudi prince proving crucial to Trump efforts to end Ukraine, Gaza wars

    Top U.S. and Russian officials wrapped up their meetings Tuesday in Riyadh, Saudi Arabia, to discuss a pathway to end the war in Ukraine, days before Saudi Crown Prince Mohammed bin Salman is set to convene a summit with leaders from Egypt, Jordan, Qatar and the United Arab Emirates to discuss an Arab response to U.S. President Donald Trump's vow to take over Gaza. The two separate talks reflect the growing role of the prince in Trump's efforts to fulfill his campaign promise to end the wars in Ukraine and Gaza. The Saudi talks signaled a major détente between Washington and Moscow and an abrupt end of U.S. policy under former President Joe Biden to isolate Russia and support Ukraine "for as long as it takes."

  • Russia’s wealth fund chief will meet US delegation in Saudi Arabia: Source

    Russia’s sovereign wealth fund chief Kirill Dmitriev will meet a US delegation in Saudi Arabia on Tuesday to focus on strengthening ties and increased economic cooperation, a source in Riyadh told Reuters. The meeting involving Dmitriev is the first confirmation that the US-educated former Goldman Sachs banker will be involved in talks with the United States. Dmitriev, 49, is an investment banker who studied at Harvard and Stanford in the 1990s. He worked at the US firms Goldman Sachs and McKinsey before returning to Moscow.