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  • Trump Presidency Heralds Warmer Ties with Saudi Arabia

    In terms of volume, Iran’s oil exports may also turn out to be too small to matter for prices. The latest data, for November, shows an average daily export rate of 1.31 million barrels of Iranian oil going to China. China is virtually Iran’s only client, especially now that Islamist rebels have taken over Syria. The November figure is about half a million barrels daily lower than the October average and the lowest in four months, Iranian media reported. So, it’s safe to say that Iran has been exporting over 1 million barrels of crude daily this year but less than 2 million barrels daily.

  • The Transformative Power of Sculptures and Landmarks in Urban Spaces: The Case of AL Khobar, Saudi Arabia

    The Mujassam Wattan competition, aligned with Saudi Vision 2030, has been a catalyst for integrating meaningful public art into cities across the Kingdom. By inviting artists and designers to create works inspired by Saudi heritage and aspirations, the initiative fosters cultural expression while enhancing urban spaces. In Alkhobar, the competition resulted in the creation of Alarda and Alkhobar Memory, two sculptures that transformed the city's sea front into a cultural and social hub. These works exemplify how public art can redefine spaces, connect communities, and highlight local identity.

  • Taking Saudi Arabia’s World Cup 2034 from ambition to reality

    The World Cup is always more than just a series of matches. It’s a global event that transforms nations, driving development in infrastructure, the economy and tourism. For Saudi Arabia it’s also an opportunity to establish itself as a modern, ambitious and open nation. The country has announced plans to build 15 stadiums. And if you think these are just sports venues, think again. Each stadium is envisioned as a future architectural marvel designed to impress the world. But behind this grandeur lies a harsh reality: the kingdom’s limited domestic resources mean it will need to rely heavily on imported materials, technology and expertise – a significant challenge for a country determined to showcase its self-sufficiency.

  • The ‘race is on’ to set up bitcoin national reserves

    The concept of national bitcoin reserves is moving from theoretical discussion to geopolitical reality. A member of Russia’s parliament has called on its central bank to consider bitcoin as a reserve asset, it was reported last week. Thirteen nations already hold the cryptocurrency, according to a report released this month by bitcoin exchange River. The Russian proposal – and widespread speculation that GCC nations are quietly exploring similar strategies – hint at a newly elevated place for bitcoin, especially during Donald Trump’s second term as US president. “The bitcoin race is on,” Grant McCarty, co-executive director of the Bitcoin Policy Institute in Washington, told the BitcoinMena conference in Abu Dhabi this week.  “Multiple countries have already bought bitcoin and not necessarily announced it.”

  • Mastercard forges alliance with Saudi Arabia’s Jeel

    Mastercard has partnered with Jeel, a subsidiary of Riyad Bank to foster digital innovation including artificial intelligence (AI) within Saudi Arabia’s non-banking financial institutions (NBFI) sector.  Recently, Mastercard collaborated with payment solutions provider Geidea to promote digital payment adoption among SMEs in the UAE.  Using Mastercard Gateway technology, Geidea will provide secure payment solutions that will benefit SMEs by enhancing their ability to accept payments from a wider customer base.

  • The great wealth transfer and the rise of offshore structures for Saudi families

    As younger generations inherit significant wealth, the dynamics of financial stewardship are evolving, prompting an increased demand for offshore structures – particularly trusts. This article delves into the nuances of this wealth transfer phenomenon, particularly in Saudi Arabia, and examines how offshore trusts are becoming pivotal tools for preserving and managing this wealth. The great wealth transfer refers to the shift of assets from the older generation to their heirs. It is estimated that trillions will be passed down over the coming decades, a phenomenon that is not just limited to the West but is increasingly relevant in the Middle East. In Saudi Arabia, where vast oil revenues have created immense wealth, a significant portion of this wealth is starting to transition to the next generation.

  • Riyadh meeting highlights role of Saudi missions abroad in achieving strategic goals

    The 5th general meeting of the heads of the Saudi missions abroad discussed on Sunday the priorities of Saudi foreign policy and the role of the missions in achieving the Kingdom’s strategic goals.The agenda of the meeting included interactive dialogues and presentations with the aim of discussing and examining the ministry's strategies and initiatives and exchanging visions on their implementation. This is in addition to activating coordination between the Saudi missions abroad and government agencies, and exchanging views on issues related to their tasks on the external scene in a way that serves the interests of the country and the citizens.

  • Non-institutional foreign ownership ex-Aramco rises to 9.48% last week

    Non-institutional foreign investors raised their ownership in Tadawul-listed equities, excluding Saudi Aramco, from 9.40% to 9.48%, or SAR 327.82 billion, in the week ended Dec. 12, market data showed.  The ownership of non-institutional foreign investors is represented by swap holders, residents, and qualified foreign investors (QFIs).

  • Industrial Licenses In KSA

    The Kingdom of Saudi Arabia (KSA) offers significant investment opportunities, particularly in the industrial sector, which is a cornerstone of its national economy. Aligned with Vision 2030, the Kingdom continues to improve legislation and regulations to foster industrial growth and sustainability. This article outlines the types of industrial licenses, application procedures, and associated fees for establishing an industrial project in Saudi Arabia.

  • Saudi Arabia’s cybersecurity strategy: Building a resilient digital future

    At the heart of this strategy is the National Cybersecurity Authority (NCA), which was established to oversee and coordinate the Kingdom’s cybersecurity efforts. The NCA is tasked with ensuring that all sectors, both public and private are aligned in their cybersecurity initiatives. By providing a clear framework and governance structure, the NCA fosters collaboration between government entities, critical infrastructure providers, and private-sector partners to address emerging cyber risks.