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  • Hollywood’s Stampede Ventures And Saudi Arabia’s Film AlUla Forge Milestone $350 Million Pact

    Saudi Arabia’s Film AlUla, the film entity looking to attract international productions to a sprawling area of desert and giant boulders, has forged a partnership with Hollywood indie Stampede Ventures, bringing 10 productions to the region over the next three years with a projected $350 million spend.

    The groundbreaking agreement with Stampede marks the first deal of this scale between Hollywood and Saudi since the kingdom lifted its ban on cinema in late 2017. Stampede is headed by U.S. industry veteran Greg Silverman, former president of creative development and physical production at Warner Bros. Silverman launched Stampede Ventures in 2018.

  • Kushner: American Jews are ‘safer in Saudi Arabia’ than on a college campus

    Jared Kushner, the son-in-law and ex-adviser to former President Trump, suggested Sunday Saudi Arabia is “safer” for American Jews than college campuses following a flurry of protests over the Israel-Hamas war across the nation. “One of the ironies is that, as an American Jew, you’re safer in Saudi Arabia right now than you are on a college campus like Columbia University,” Kushner said on Fox News’s “Sunday Morning Futures.” “I spoke at the conference. They allowed me to speak freely.”

  • Gemcorp Sets Up $1 Billion Fund to Tap Saudi Arabia Projects

    The emerging markets-focused asset management firm Gemcorp Capital LLP is setting up a $1 billion fund to bring foreign investment into some of Saudi Arabia’s most ambitious projects.

    The fund will target investments in projects which are aligned with Vision 2030, Crown Prince Mohammed Bin Salman’s plan to transform the Saudi economy away from reliance on oil, the company said in a statement on Wednesday.

    The partnership between Gemcorp and the kingdom’s Ministry of Investment, will offer investment products including credit, equity and hybrid debt. Gemcorp will provide seed financing for the fund, while the ministry will allow access to potential opportunities.

  • Gemcorp Sets Up $1 Billion Fund to Tap Saudi Arabia Projects

    Gemcorp’s announcement came on the sidelines of the Future Investment Initiative, an annual gathering of the world’s finance elite in Riyadh. Saudi Arabia is seeking to reassure investors that the kingdom remains an attractive investment destination despite the ongoing war between Israel and Hamas. Hitting targets for attracting foreign direct investment as part of Crown Prince Mohammed bin Salman’s plans to overhaul the Saudi economy has been a challenge. That plan envisages lifting foreign investment to 5.7% of economic output.

  • Future Investment Initiative: Saudi Arabia Brings Together the World to Shape Tomorrow’s Economy

    The Future Investment Initiative conference kicked off in Riyadh on Tuesday with global and local investors stressing the importance of exploiting the available opportunities to advance international alliances and develop strategies that shape tomorrow’s economy.

    In an interview with Asharq Al-Awsat, CEO of Skytower Eric Fang said the Future Investment Initiative will focus on the impact of investment on humanity as an interactive program designed to help investors reset pathways for their companies and for the global economy, while developing new strategies to cope with the challenges and opportunities of the new era.

  • Saudi Arabia’s largest Esports tournament yet scheduled for next summer

    A“boundary-pushing” esports festival is to take place in Saudi Arabia next summer.

    The inaugural Esports World Cup was announced by Saudi Crown Prince Mohammed bin Salman during The New Global Sport Conference on Monday.

    “The Esports World Cup is the natural next step in Saudi Arabia’s journey to become the premier global hub for gaming and esports, offering an unmatched esports experience that pushes the boundaries of the industry,” said Prince Mohammed.

    “The competition will enhance our progress towards realising the Vision 2030 objectives of diversifying the economy, growing the tourism sector, creating jobs in various industries, and providing world-class entertainment for citizens, residents, and visitors alike.”

  • Images from 2023 Super League Triathlon Grand Final in NEOM, Saudi Arabia

    Great Britain’s Kate Waugh and Léo Bergere of France won the 2023 Super League Triathlon Championship Series titles in NEOM, Saudi Arabia. NEOM in Saudi Arabia, hosted the 2023 Super League Triathlon Championship Series Grand Final on October 21. The race format for elite athletes was the three-stage Enduro, requiring a mix of speed and stamina. The three back-to-back stages tasked athletes with a 300m swim in the warm and buoyant Red Sea followed by a single lap 4km bike leg on a mix of gravel and asphalt surfaces and a final 1.6km run. All would take place in the 30°C desert heat and windswept conditions of NEOM.

  • ‘Large influx’ of investments into Saudi Arabia’s tourism sector over last 3 years, official says: Video

    Mahmoud Abdulhadi, Saudi Arabia’s deputy minister of tourism destinations enablement, says the country has “very ambitious targets.”

  • Red Sea Global debuts largest off-grid EV charging network in Saudi Arabia

    Comprising more than 150 strategically placed charging stations, this network spans phase one of The Red Sea destination area. It is designed to support RSG's initial fleet of 80 electric vehicles, including models from Lucid and Mercedes, ensuring these luxury EVs remain charged and operational on the roads. John Pagano, Group CEO of RSG, expressed the company's commitment to combining sustainability and luxury in a unique manner, stating, “Our ambition to combine sustainability and luxury like never before takes a new form as we drive The Red Sea into the future of next-gen, smart mobility, fully powered by sunlight.”

  • Saudi Arabia calls for an urgent OIC Ministerial Meeting in Jeddah to address escalation in Gaza

    Saudi Arabia has called for an urgent Ministerial Meeting of the Executive Committee of the Organization of Islamic Cooperation (OIC), scheduled for Wednesday in Jeddah, to address the escalating military situation and the threat to defenseless civilians in Gaza.

    The urgent meeting comes at the invitation of Saudi Arabia, which chairs the current session of the Islamic Summit and the Executive Committee of the Organization of Islamic Cooperation (OIC). The Organization's Executive Committee will hold the urgent open-ended extraordinary meeting at the ministerial level, to address the escalating military situation in Gaza and its surroundings.