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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.

  • Trump-Putin meeting not imminent, as first US-Russia talks on Ukraine finish in Riyadh

    Negotiations Tuesday between Russia and the United States led by Russian Foreign Minister Sergey Lavrov and U.S. Secretary of State Marco Rubio have concluded in Riyadh, Saudi Arabia. The bilateral talks lasted about 4.5 hours and, according to Russian leader Vladimir Putin's top aide Yuri Ushakov, the negotiations "went well." However, a summit between Presidents Vladimir Putin and Donald Trump is unlikely to take place next week, as "intensive work" is needed first, according to the aide. The U.S. State Department called the meeting an "important step forward" as Lavrov and Rubio agreed to form high-level negotiating teams to discuss a settlement to the war in Ukraine “as soon as possible in a way that is enduring, sustainable, and acceptable to all sides.”

  • 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.

  • Fashion Trust Arabia Unites Creative Voices in Middle Eastern Fashion

    Since 2018, Qatar’s cultural scene has been enriched by a unique program highlighting Middle Eastern fashion. Fashion Trust Arabia is an annual fashion competition envisioned under the leadership of Sheikha Moza bint Nasser, mother of the Qatari emir, and co-run by her daughter, Sheikha Al Mayassa Hamad bin Khalifa al-Thani, and Tania Fares. The event convenes the Middle East’s best and brightest to celebrate fashion, innovation, and community in the region. In October 2024, Fashion Trust Arabia marked its sixth year. For the first time, it was held outside of Qatar – in Marrakesh alongside the Years of Culture Qatar-Morocco 2024. Qatar Museums’ Years of Culture program, which was launched in 2012 by Sheikha Al Mayassa, seeks to develop creative connections between Qatar and each year’s focus country, often through artist exchanges, volunteering trips, and a season full of exhibitions aimed at deepening cultural understanding.

  • Opec+ market share to fall as US ramps up oil output

    The Opec+ group’s market share was 53 percent when it was set up in 2016. That figure is likely to drop to 46 percent in 2025 and 2026, even as Opec+ gradually reverses 2023 cuts in production quotas and actually increases supply, according to the US Energy Information Administration (EIA). Opec+ supply is expected to grow by 100,000 barrels per day this year to 35.8 million bpd and by 600,000 bpd next year. Unlike the Opec+ members, the US is not subject to quotas. “Opec+ has to resume executing its initial plan, pumping back (oil), at least to hold back part of the market share it is losing,” Choeib Boutamine, CEO of Ranadrill Consulting, a training and consulting company in Algeria, told AGBI.

  • PIF’s $1bn Dazn deal creates new Mena sports streamer

    Surj Sports Investment, a unit of Saudi’s Public Investment Fund (PIF), has acquired a minority stake in UK-based global sports network Dazn. The deal, believed to be worth $1 billion, will establish new broadcasting joint venture Dazn Mena, which the companies say will broadcast live and on-demand sports from Saudi Arabia. The partnership will also capitalise “on the significant growth in demand for high-quality sports broadcasting,” the companies said – a signal that Dazn Mena could rival Qatari broadcasting giant Bein Sports. Danny Townsend, CEO at Surj Sports Investment, said the investment would help Surj “achieve its mandate of driving fan engagement, encouraging sports participation and unlocking game-changing opportunities, and further showcasing the region as a destination for world-class sports.”