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  • Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    The budget of Saudi Arabia’s NEOM hydrogen project that is expected to tap massive green power capacity, has soared by 70% to a whopping $8.5 billion from its original budget of $5 billion, according to a recent financial update from co-developer Air Products. Inflation, spare parts, upfront fees for land and $1 billion of interest on loans have all contributed to the $3.5 billion budget increase, said the US industrial gases company, which is developing the project in the desert of northwest Saudi Arabia with partners ACWA Power, the Saudi renewables developer, and NEOM.

  • Hydrogen: Powering the Future of Mobility in The Middle East

    Total GHG emissions in the Middle East have almost doubled in the last 20 years and continue to rise steadily. Around 16% of these emissions can be attributed to the mobility sector, including road, domestic aviation, and pipeline transportation. In addition to this domestic burden, the Middle East accounts for a significant portion of the emissions from international shipping and air travel.

  • Turkey earthquake: How building negligence led to catastrophic outcomes

    In fact, after an investigation into the 1999 earthquake in Turkey, it was found that buildings in the city did not meet design requirements and were not earthquake resistant as required by the regulations. Several reports also mentioned that the country used poor construction material and were “shoddily constructed.” Multiple studies, including one from 2020 reiterated the caution, stating that multiple districts are vulnerable to earthquakes of more than 7.4 magnitudes.

  • Saudi Arabia’s Accelerating Agenda for Special Economic Zones

    This is the latest step in Saudi Arabia’s , accelerating SEZ agenda, which sees the development of worldclass SEZs as the Kingdom’s next frontier for attracting investment and localizing business. The development of new SEZs in Riyadh i s also especially significant for advancing the ambitious Riyadh Vision strategy, which aims to make the Saudi capital one of the 10 largest cities in the world in terms of economic output by 2030.

  • Iraq revalues currency to 1,300 dinars per USD, state news agency says

    Iraq's cabinet approved a currency revaluation on Tuesday and set the exchange rate at 1,300 dinars per U.S. dollar, the state news agency reported.

  • Rackspace Signs Deal with Saudi Arabia’s Data, AI Government Agency

    Cloud-computing and server company Rackspace Technology Inc. said Tuesday that it signed a memorandum of understanding with Saudi Data and AI Authority to collaborate on strategic technology initiatives in support of Vision 2030, a Saudi initiative to reform energy dependence and technological infrastructure. Saudi Data and AI Authority, or SDAIA, is a government agency that was established in 2019 to set and oversee Saudi Arabia's national data and AI strategy, policymaking and innovation.

  • Schengen visa: UAE residents travelling to EU now no longer need visa stamps

    The European Union (EU) has approved a new strategy to move the physical Schengen visa applications and stickers to a digital system, according to a report by Schengen Visa Info. According to the Parliament of the EU, the report on the digitalisation of visa procedures in the Schengen area was adopted with 34 votes in favour, five against, and 20 abstentions. The approval of the new digital visa process follows the EU parliament’s efforts to “speed up the process, reduce the efforts and costs required to make an application,” thus promoting security.

  • The consultancies shaping the agenda of tech event LEAP

    One of the world’s top technology events, LEAP, is back, and is promising to be even bigger and better than last year’s award-winning inaugural edition. Saudi Arabia will once again serve as the backdrop for the four-day event from February 6 to 9, which is expected to draw over 120,000 participants from all corners of the world.

  • Saudi Arabia’s Wa’ed Ventures Invests In Paris-Based Pasqal And Tokyo-Based Terra Drone As Part Of Its New Global Agenda

    Saudi Aramco-owned venture capital firm Wa'ed Ventures has announced two global investments, which includes partaking in a US$108 million equity Series B round raised by Paris-based quantum computing startup Pasqal, as well as leading a $14 million bridge round for Japan-based drone and urban air mobility technology company Terra Drone. The latter marks Wa'ed Ventures' first foray into the Asian market.

  • U.S. to end COVID-19 emergency declarations on May 11

    President Joe Biden's administration on Monday said it will end COVID-19 emergency declarations on May 11, nearly three years after the United States imposed sweeping pandemic measures to curb the spread of the illness. The COVID-19 national emergency and public health emergency (PHE) were put in place in 2020 by then-President Donald Trump. Biden has repeatedly extended the measures, which allow millions of Americans to receive free tests, vaccines and treatments.