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  • Mideast Wealth Funds Spend $82 Billion to Ramp Up Bets on Post-Oil Future

    That the Gulf’s various sovereign wealth funds have become some of the most dominant players in global dealmaking has rarely been in doubt in the past few years. Figures for 2024’s deal activity demonstrate it beyond all doubt. Collectively, five wealth funds controlled by Abu Dhabi, Qatar and Saudi Arabia deployed $82 billion last year, accounting for more than 60% of all sovereign wealth fund investments, according to Global SWF. These entities regularly feature in the top 10 global sovereign dealmakers. The bigger question is how much these funds are driven by the quest for returns, and how much by their nations’ domestic and foreign policy priorities. That may become even more acute as Gulf states look to use their oil wealth to position themselves at the center of industries like artificial intelligence.

     

  • Dakar Rally competitors react to grueling Stage 2 in Saudi Arabia: Video

    Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km.

  • PHOTO COLLECTION: Saudi Arabia Dakar Rally

    This is a collection of 37 photos chosen by AP photo editors.

  • Clampdown begins on Saudi’s unlicensed hospitality

    Travel and tourism service providers and booking platforms have been ordered by Saudi Arabia’s Ministry of Tourism to remove unlicensed hospitality facilities from their listings or “face penalties”.  The ruling, which came into effect from January 1, is to ensure outlets offering hospitality meet a certain standard, the ministry said in a statement.  It urged all establishments to obtain or renew their licences or face fines of up to SAR1 million ($267,000) and/or closure.  Violators may also face public shaming, the ministry said in a statement on the Saudi Press Agency.

  • South African-built cars dominate the Dakar Rally in Saudi Arabia: Video

    South Africa’s strong legacy at the Dakar Rally continues in 2025, with more than half of the vehicles at the event in Saudi Arabia being designed and built in the country. The race promises to be another thrilling competition showcasing Southern African engineering prowess.

  • How the Islamic State Radicalizes People Today

    The Islamic State has lost thousands of fighters to death or prison and suffered the demise of its self-declared caliphate in Iraq and Syria. But the global reach of the group, also known as ISIS, is still vast, in part because of its sophisticated media output and the people around the world who consume it. From online videos to social media platforms — and even a weekly Islamic State newsletter — the group that wants to force all Muslims to adhere strictly to the faith’s earliest teachings has a very modern media strategy. “Terrorism is essentially communications,” said Hans-Jakob Schindler, a former United Nations diplomat who is the senior director of the Counter Extremism Project, a think tank with offices in New York and Berlin. “It is not warfare, because obviously, ISIS cannot militarily defeat the West, right? They tried and it didn’t exactly end well.”

  • Saudi Arabia revises fees for seven services, including visa and Iqama renewals

    The Saudi Ministry of Interior’s Absher Business platform has introduced updated fees for seven services offered to establishments, according to Okaz newspaper. Among the changes, the fee for extending an exit and reentry visa has been set at SR103.5, while the renewal fees for the residency permit (Iqama) and the final exit have been revised to SR51.75 and SR70, respectively. The updated fee for issuing an Iqama is also SR51.75, while the fee for requesting an employee report has been set at SR28.75. For expatriates, the cost of updating passport information is now SR69.

  • US approves possible sale of torpedoes to Saudi Arabia: Pentagon

    The State Department approves the possible sale of 20 MK 54 MOD 0 Lightweight Torpedoes to Saudi Arabia for $78.5 million, according to the Pentagon. “The proposed sale will improve Saudi Arabia’s capability to deter current and future threats by upgrading its anti-submarine warfare capabilities,” the Pentagon says. Pentagon chief Lloyd Austin has repeatedly reaffirmed to Saudi Arabia’s Defense Minister Prince Khalid bin Salman Washington’s commitment to the Kingdom’s defense and thanked him for Riyadh’s work to promote calm in the Middle East.

  • All 6 lines of Riyadh Metro operational with rollout of Orange Line

    The Line 3 (Orange Line) covering Madinah Road would connect the east of Riyadh to its west, and extends from Jeddah Road in the west to the second eastern ring road adjacent to the Khashm Al-Aan area in the east with a total length of 41 km. This marks the completion of the phased operation of the six lines of the Riyadh Metro network according to the plan previously announced when the project was inaugurated by Custodian of the Two Holy Mosques King Salman on Nov. 27, 2024. The RCRC said in a statement that at 6:00 am on Sunday, passengers will be received on the Orange Line at the following five stations: Jeddah Road Station, Tuwaiq Station, Douh Station, Harun Al-Rashid Road Station, and Al-Naseem Station, which is one of the transfer stations that connects the Orange Line and the Purple Line. The commission also announced the operation of three new stations on the Blue Line that connects the Olaya Street to Batha and these are Al-Morooj Station, Bank Al-Bilad Station, and King Fahd Library Station. Three lines that started operations in the initial phase on Dec. 1 were the 1st line (Blue Line); 4th line (Yellow Line); and the 6th line (Purple Line). In the second phase, two more lines — Line 2 (Red Line) and Line 5 (Green Line) — became operational on Dec. 15.

  • Cristiano Ronaldo Talks Life In Saudi Arabia, Growth Of Saudi Pro League

    Since Ronaldo's arrival in the SPL, the league has grown leaps and bounds. Players like Karim Benzema, Neymar, Riyad Mahrez, Sadio Mane, and more are now in the SPL. Cristiano Ronaldo said about the growth: For me, it is an honour that the league is growing and many star players are coming to make the league even better and more competitive. To be the first one -- let's say a star -- to come here is an honour, but what I'm looking forward to is the next five to 10 years of the league still improving. Not only the first teams, but also the academies.