MUST-READS

• Saudi Arabia unveils plans for Global T20 League with $500M investment

  Saudi Arabia is set to launch a groundbreaking global Twenty20 league, backed by its $1 trillion sovereign wealth fund. Spearheaded by Australian cricket figure Neil Maxwell, the ambitious project aims to transform the sport by introducing a traveling eight-team league modeled after tennis’s Grand Slams. Financed by Saudi Arabia’s SRJ Sports Investments, the league is expected to host matches in four different locations throughout the year. Discussions with the International Cricket Council (ICC) are already underway, with sources indicating that Saudi Arabia is prepared to invest $500 million in the venture.

• Saudi Arabia records 23,865 violations in nationwide residency and labor law inspections

  The Ministry of Interior conducted inspection campaigns across Saudi Arabia between March 6 and March 12 to ensure compliance with residency, labor, and border security laws. A total of 23,865 violations were recorded, including 16,644 related to residency, 3,896 to border security, and 3,325 to labor laws. Authorities intercepted 1,432 individuals attempting to cross into the Kingdom illegally, of whom 29% were Yemenis, 67% Ethiopians, and 4% from other nationalities.  Additionally, 97 people were arrested for attempting to leave the Kingdom illegally. Thirteen individuals involved in transporting, sheltering, and employing violators were also arrested.

• Saudi Arabia, Indonesia to ink MoU to resume hiring domestic workers
  Saudi Arabia and Indonesia are set to sign a memorandum of understanding (MoU) to facilitate the recruitment of domestic workers from Indonesia to Saudi Arabia, Bloomberg reported. “The MoU will be signed between the two countries later this month in Jeddah,” said Abdul Qadir Karding, Indonesia’s Minister for the Protection of Migrant Workers. Saudi Arabia is offering a total of 600,000 job opportunities, including 400,000 positions for domestic workers and 200,000 jobs in the formal sectors, added Karding.

• Saudi Arabia launches crackdown on ‘immoral acts’ amid social reforms

  Saudi Arabia has arrested more than 50 people, including 11 women on prostitution charges, in a new crackdown on “immoral acts” amid ongoing social and economic transformations under Crown Prince Mohammed bin Salman. According to a report by the FT, the Ministry of Interior’s newly established unit, tasked with tackling “community security and human trafficking,” has also detained dozens of foreigners for alleged offences in massage parlours and for forcing women and children into begging. This marks the first time in over a decade that authorities have publicly acknowledged the existence of prostitution in the kingdom.

• Saudi crown prince congratulates Mark Carney on confirmation as Canada PM

  Saudi Arabia's Crown Prince Mohammed bin Salman congratulated Mark Carney on Friday, on the occasion of the formation of the new government headed by him and his taking the constitutional oath as Prime Minister of Canada, the Saudi Press Agency reported. The crown prince expressed his best wishes for success and guidance to Carney and for the friendly people of Canada further progress and prosperity, SPA added. Ex-central banker Carney succeeded Justin Trudeau as Canadian premier, following the latter’s announcement of his resignation in January.

• Trump’s Middle East Policy and Its Impact on Saudi Arabia

  Trump’s renewal of the maximum pressure campaign could lead to rising tensions in the Gulf after a brief period of relative stability. The Saudis remember the fallout from Trump’s first campaign: On May 12, 2019, Iran attacked four ships off the Emirati Fujairah port; two of them were Saudi oil tankers. The escalating attacks culminated on Sept. 14, just nine days before Saudi National Day, when 18 drones and several cruise missiles were launched against the Abqaiq oil-processing facility – the largest in the world – and the Khurais oil field and processing plant. These attacks briefly disrupted more than half of Saudi oil production and 5% of global oil output.

• Why Saudi cash hasn’t been able to turn Newcastle into a soccer superpower

  Unlike Abu Dhabi-backed Manchester City, which has dominated English soccer over the past decade, and Qatari-backed Paris Saint-Germain, which has done likewise in France, it has been a slower burn for Newcastle, which hopes to end its trophy drought on Sunday when it faces Liverpool in the English League Cup final at Wembley. That is largely because these are different times and having mega-wealthy owners today does not give teams the freedom to spend as exorbitantly as they once did. Financial Fair Play (FFP) regulations essentially ensure teams can spend only in relation to what they earn.

• Inside the ‘camouflaged’ Desert Rock Resort: Saudi Red Sea destination draws global tourists at $3,200 per night
  Saudi Arabia‘s Red Sea Global’s newest ultra-luxury offering, Desert Rock Resort, has quickly established itself as a global draw since its December 15 opening, with its striking carved-into-mountain design capturing attention across social media platforms. The resort has attracted visitors from China, Eastern Europe and East Asia within its first three months of operation, despite premium pricing of SAR8,000-12,000 ($2,133-$3,200) per night. “Our first guest was a Chinese guest,” revealed Thomas Combescot, General Manager at Red Sea Global Hospitality. What distinguishes Desert Rock within Saudi Arabia’s rapidly expanding hospitality landscape is its architectural approach. Unlike most luxury resorts that showcase their presence, Desert Rock deliberately blends with its environment.

• Saudi Aramco Oil Sales to China Set to Fall Sharply in April

  Saudi Aramco is set to supply the lowest amount of oil to China in several months, even as the OPEC+ cartel gears up to boost output. The state-owned Saudi Arabian major will send 34 million to 36 million barrels of April-loading crude to customers in China, the world’s biggest importer, according to data compiled by Bloomberg. That compares with 41 million for March, and a figure below 36 million would be the smallest since at least the first half of last year.

• How Saudi Arabia is Diversifying Its Economy

  “When you look at economic diversification, historically the Saudi economy relied heavily on one source. Now we have put a lot of emphasis to diversify the economy towards non-oil activities,” Alkhareif said in a conversation with Bentley President E. LaBrent Chrite in the Executive Dining Room in LaCava. “But that doesn’t mean we are devaluing the importance of the oil sector. If anything, we are leveraging the capabilities in the oil sector to provide energy to the global economy — particularly that fossil fuel continues to play a significant role in the global mix of energy.”   A major effort that has helped diversify the country’s labor market is the Women Empowerment Budget Initiative. By creating workplaces that are more conducive to women, the country saw a boost in women’s workforce participation to around 36%, which exceeded the initial 30% target put forth under Vision 2030. Alkhareif underscored the major role of the kingdom’s fiscal policy in advancing social spending, including by improving access to healthcare and education, noting that social spending in the Saudi Arabia is at the top compared to other G20 countries.

• 10 of 35845 results<< 1 2 3 4 … 3,585 >>