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  • Saudi Arabia puts Israel deal on ice amid war, engages with Iran, sources say

    Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war escalates between Israel and Palestinian group Hamas. The conflict has also pushed the kingdom to engage with Iran. Saudi Crown Prince Mohammed bin Salman took his first phone call from Iranian President Ebrahim Raisi as Riyadh tries to prevent a broader surge in violence across the region.

  • Saudi Arabia faces major challenges if climate warms by 3 degrees: Report

    A landmark report released during the Middle East and North Africa Climate Week, which ran here from Oct. 8 to 12, highlights the challenges that Saudi Arabia might face in a world that is warmer by 3 degrees Celsius. Titled “Climate Futures Report: Saudi Arabia in a 3-Degrees Warmer World,” the report highlights the stark reality that Saudi Arabia is witnessing climate change at an accelerated pace compared to other regions. The 133-page study was generated by King Abdullah University of Science and Technology or KAUST, AEON Collective, and King Abdullah Petroleum Studies and Research Center.

  • Saudi Arabia aims to lead global clean hydrogen export industry, climate conference told

    Saudi Arabia has ambitions to be the world leader when it comes to hydrogen exports, according to the general director of the Clean Hydrogen and Circular Carbon Economy National Program at the Kingdom’s Ministry of Energy. Speaking during a panel discussion at the Middle East and North Africa Climate Week 2023 in Riyadh, Zeid Mohammed Al-Ghareeb said Saudi Arabia is charting a new course in the global energy landscape by shifting its focus from oil exports to renewables. The event brought together experts and decision-makers to delve into Saudi Arabia’s plans to supply the global economy with clean energy. This strategic shift is part of the Kingdom’s long-term vision, aimed at establishing itself as a key player in green energy production while prioritizing eco-friendly approaches to future economic development.

  • Saudi Arabia to develop Jeddah’s historic Al Balad district into international heritage destination

    The overall project development area will comprise approximately 2.5 million square meters, with a total built up area of 3.7 million square meters. This includes 9,300 residential units, 1,800 hotel units and around 1.3 million square meters of commercial and office space. The project is part of wider efforts led by Crown Prince Mohammed bin Salman to revitalise historic Jeddah and turn the city into an economic hub as well as a global cultural and heritage destination. The new company will collaborate with the private sector and specialists to develop the area’s infrastructure, taking into account environmental sustainability and preserving the heritage of Historic Jeddah, which is a UNESCO World Heritage site.

  • Saudi Arabia, India formalize energy sharing, hydrogen production agreement in Riyadh

    It follows a series of joint agreements signed between Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi last month. The two countries will also work together on developing projects in the hydrogen and clean energy sector, including their production. An interconnection of the electricity grid would aid in sharing energy both ways during peak periods and emergency situations. Also, by inter-linking energy networks, the requirement for each country to build storage and source energy lowers significantly, a cost-cut that carries forward to the consumer.

  • K-culture takes center stage at KCON Saudi Arabia

    Concertgoers to this month's KCON Saudi Arabia experienced Korean food, fashion and beauty products in addition to exciting K-pop performances. K-Travel Festa in Saudi, jointly hosted by the Culture Ministry and Korea Tourism Organization, operated a slew of promotional booths at the same venue and dates at the KCON concert. Visitors experienced Korean products like those from beauty brand Innisfree and food brand Nongshim, at Mohammed Abdu Arena from Oct. 6 to 7.

  • Australia given 25-day deadline to challenge Saudi Arabia’s 2034 World Cup bid

    Football Australia, state and federal governments and potential Asian co-hosts have been given just 25 days by Fifa to decide whether they will bid for the 2034 men’s World Cup. The tight timeline was revealed on the same day an intention to host the tournament was announced by Saudi Arabia, which received the backing of Asia’s most powerful football administrator.

  • Saudi Arabia, China collaborate on literary exchange

    Saudi Arabia’s Literature, Publishing, and Translation Commission has partnered with China’s National Press and Publishing Administration to promote literary translation between Arabic and Chinese. The agreement was signed on Monday during the Riyadh International Book Fair, which is currently taking place at King Saud University until Oct. 7.

  • Saudi Arabia 2024 budget scenarios: From deficits to optimistic surplus of $62.4bln

    The baseline scenario, a reflection of global and local developments, projects revenues at $312bln, offset by expenditures reaching $333bln

  • Saudi Arabia announces $337bn budget for 2024

    Saudi Arabia‘s Ministry of Finance has announced its pre-budget statement for the fiscal year 2024, laying out key financial projections and strategies, on Saturday. The statement reveals total expenditures of SAR1,251 billion ($337,770,000,000 approximately) and total revenues of SAR1,172 billion ($316,440,000,000 approximately), with a projected deficit of approximately 1.9 percent of GDP. Minister of Finance, Mohammed Al-Jadaan, stressed the government’s commitment to economic reforms and the objectives of Saudi Vision 2030.