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  • Who is Outsmarting Whom? Khamenei Receives Putin in Tehran

    Russia has historically used Iran as a bargaining chip in negotiations with the United States by commiserating over shared anti-American interests with Iran but ultimately selling Iran’s interests in return for even minor concessions from the United States, which may or may not have been related to Iran. It is therefore no surprise that Khamenei hopes for a “forever war” between Russia and NATO, which makes Moscow less likely to cut deals with Washington over Tehran’s head.

  • Sommet Education starts training next generation of Saudi Arabia Tourism professionals

    The first group of Saudi students arrived at les Roches Global Hospitality Education on its campus in Marbella, Spain. This short program aims at equipping students with the fundamentals of Tourism Business and Operations from understanding housekeeping Operation to Customer Experience or Sales and negotiation skills.

  • Saudi Arabia’s Manga Productions to set up new headquarters in Mohammed Bin Salman Non-Profit City

    After releasing the first-ever Saudi-Japanese animated film last year, Manga Productions is set to move its headquarters to the Prince Mohammed Bin Salman Non-Profit City. The new city, which will open in 2024, will host Manga Productions as part of its new media sector. It will allow creative talent in the kingdom to live, learn, and grow through global collaborations and international creatives.

  • U.S. State Department OKs potential sale of C-17 aircraft support to UAE -Pentagon

    The U.S. State Department has approved the potential sale of C-17 aircraft sustainment and related equipment to the United Arab Emirates for an estimated cost of $980.4 million, the Pentagon said on Tuesday. Despite approval by the State Department, the notification does not indicate that a contract has been signed or that negotiations have concluded.

  • Venture capital investments in Saudi startups triple to $584 million

    Saudi Arabia experienced a major increase in venture capital investment during the first half of 2022. Investment in Saudi startups rose 244% to a record high of $584 million compared to the first half of 2021. A total of 88 investors have made deals with Saudi startups this year, Saudi Venture Capital said in a press release. "Saudi Arabia has always been an attractive market for entrepreneurs and investors from the kingdom and abroad due to the huge size of this market,” said CEO Nabeel Koshak.

  • Aston Martin rejects Geely bid, welcomes Saudi investment

    Saudi Arabia’s Public Investment Fund, which also has a stake in McLaren, has become a new anchor investor and the second largest shareholder, spending £78 million (A$136.53m) for a 16.7 per cent stake in the firm. But Aston Martin’s board has summarily rejected a proposal from the Atlas Consortium – consisting of Geely and InvestIndustrial – to invest £1.3 billion (A$2.27b) in the British sports car manufacturer, saying “there is no basis for further discussion”.

  • Saudi sovereign fund to become Aston Martin’s no.2 shareholder

    Saudi Arabia's sovereign wealth fund will become the second-largest shareholder of Aston Martin (AML.L) with a nearly 17% stake in a capital raise aimed at paying off debt and shoring up its business, the British luxury carmaker said on Friday. The company, faced with with high debt, a torrid stock fall and a struggling Formula One team, said it planned to raise 653 million pounds ($773.15 million) through PIF's 78 million pound investment and a separate rights issue of 575 million pounds.

  • Egypt raises domestic fuel prices in quarterly review

    Egypt's fuel pricing committee in a quarterly review on Wednesday raised domestic fuel prices by 0.50 Egyptian pounds for 80-octane, 92 octane petrol, and diesel while 95-octane petrol was raised by 1 pound, the petroleum ministry said in a statement.

  • Saudi business giant eyes £1bn sustainable aviation fuel plant to kickstart UK green investment drive

    One of Saudi Arabia’s largest greentech specialists and manufacturing firms has outlined plans to invest billions in UK green infrastructure projects, with a £1bn sustainable aviation fuels (SAF) plant currently in the design phase.

  • Justice Department Is Investigating PGA Tour Over Potential Antitrust Violations in LIV Golf Battle

    There is also the set of rules that requires players to request a release to play in tournaments that conflict with PGA Tour events. Players are eligible for up to three such releases a season, and no such releases are granted for events in North America. When players requested those releases to play in the first LIV event outside of London last month, they were denied—leading to the suspensions of those who participated nonetheless.