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  • Saudi Arabia weighs global mining deals as sector consolidates

    Saudi Arabia is looking for mining deals in a push to secure supplies of critical minerals for its industrialization plan, just as a wave of attempted consolidation sweeps the sector. Joining the consolidation drive “could be a good way of entering the market or getting at least access to different assets in a more structured way,” Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef said in an interview at the World Economic Forum in Davos. He didn’t elaborate whether this would be buying stakes in assets or buying companies outright. Deals have been on Saudi Arabia’s radar for a while as it pushes through with an ambitious economic transformation plan. The overseas drive has had limited results so far with just one major completed deal and another in the works in Pakistan, but recent dealmaking efforts by major companies may give the Saudis an opportunity to deploy their cash.

  • A new era for nuclear energy beckons as projects, policies and investments increase

    The report, The Path to a New Era for Nuclear Energy, shows the fresh impetus behind nuclear in the form of new policies, projects, investments and technological advances, such as small modular reactors (SMRs). It provides a comprehensive assessment of the current situation, identifying the major challenges that need to be addressed to build on the current momentum and enable a new era to take hold. This includes insights on how to finance new nuclear projects while ensuring reliable and diversified supply chains for building and fuelling them. “It’s clear today that the strong comeback for nuclear energy that the IEA predicted several years ago is well underway, with nuclear set to generate a record level of electricity in 2025,” said IEA Executive Director Fatih Birol.

  • Climbing a Saudi ‘treasure’: Video

    Saudi climbing instructor Makki Alkurdi takes CNN to Treasure Island, a rock located just 20 minutes from the capital city Riyadh.

  • Floating solar could reach LCOE of $0.053/kWh in Saudi Arabia

    Scientists from King Fahd University of Petroleum and Minerals (KFUPM) in Saudi Arabia have conducted a techno-economic analysis to assess the country’s potential for floating PV (FPV) development and have found that the levelized cost of energy (LCOE) of floating PV project could be as low as $0.053/kWh. The study assessed techno-economic feasibility at three distinct locations with varying climates and topographies: the King Fahad Dam, a gravity dam on Wadi Bisha, 35 km south of Bisha in the ‘Asir Region; the Wadi Namar Dam, located south of Riyadh; and the Hali Dam, situated 14 km east of Keyad in Mecca Province. The scientists reported that the King Fahd and Wadi Hali sites offer greater depth, likely improving cooling and boosting efficiency. Maximum solar irradiation at King Fahd reaches 2.38 MW/m²/year, compared to 2.19 MW/m²/year at Wadi Namar and 2.07 MW/m²/year at Wadi Hali.

  • GCC banks to issue over $30bn in US dollar debt in 2025: Fitch Ratings

    Gulf Cooperation Council banks are projected to issue over $30 billion in US dollar-denominated debt in 2025, following a record $42 billion in 2024, Fitch Ratings said in a new report.  The surge in debt issuance is set to be driven by nearly $23 billion in maturing debt, lower US dollar interest rates, and strong regional credit demand, particularly in Saudi Arabia and the UAE.  This comes as GCC banks accounted for 18 percent of total US dollar debt issuance by emerging-market banks in 2024, with this figure rising to 36 percent if Chinese banks are excluded. Favorable global financing conditions, supported by high oil prices projected to remain around $70 per barrel in 2025, are anticipated to continue bolstering investor confidence in the region.

  • Saudi women’s football sees 195 percent surge in professional players: NEOM report

    Women’s football in Saudi Arabia has experienced “remarkable transformation” since 2018, with over 70,000 girls now participating at the grassroots level, more than 1,500 registered players nationwide and the number of professional female players surging by 195 percent, according to a new report. The report, “Pioneering Change: Women’s Football in Saudi Arabia,” published by the Kingdom’s mega project NEOM in partnership with the Asian Football Confederation (AFC), details the rapid development of women’s football in the Kingdom as part of its Vision 2030 reform agenda. The most significant growth has occurred at the grassroots level, with the Saudi Arabian Football Federation’s (SAFF) Girls’ Schools League seeing participation surge 46 percent year-on-year to reach more than 70,000 players in 2023.

  • Iran inflation reaches 31.8% as housing, transport costs surge

    Iran's annual inflation rate reached 31.8% in January 2025, with monthly inflation climbing to 2.9%, the Statistical Center of Iran (SCI) reported on January 22, releasing its data one day later than scheduled. The year-on-year increase in consumer prices showed significant pressure from government services, with miscellaneous goods and services rising 41.7%, housing utilities and fuel up 37.9%, and education costs increasing 33.9%. The data was released two days after the inauguration of US President Donald Trump, amid a further weakening of the Iranian rial (IRR) against the greenback, to trade at just shy of IRR830,000 to the USD.

  • LIV Golf to Open 2025 Season Under the Lights in Saudi Arabia

    LIV Golf will open its 2025 season under the lights at Riyadh Golf Club. With the time difference, a daytime event in Riyadh would be in the early hours of the morning at an unwatchable time for most viewers in the United States. However LIV Riyadh, from Feb. 6-8, will begin at 6:15 p.m. local time and therefore 10:15 a.m. for golf fans in the eastern U.S. With LIV Golf inking a new broadcast deal with Fox, the change in time for the event could be an attempt to get their relationship with Fox off to a hot start.

  • GCC bond issuances hit record $103bln in 2024

    The GCC countries recorded a landmark year for fixed income issuances in 2024, with total bond issuance in the region rising to a record high of $103.4bn. This marks a 71% jump from $60.5bn worth of bond issuances in 2023, according to the GCC Fixed Income Market 2024 report published by Kuwait-based Kamco Investment. Corporate issuances led the way, with companies in the GCC raising a total of $70.1bn, reflecting a remarkable growth of 74% compared to 2023. Meanwhile, government bond issuances in the region also saw a strong year-on-year increase, totalling $33.3bn, a 65% rise from the previous year. At the country level, the UAE saw the most significant increase in issuances, with bonds totalling $49.7bn in 2024, compared to $31.2bn in 2023. Qatar followed closely, posting a rise of $13.4bn. The UAE also emerged as the region’s largest bond issuer, followed by Saudi Arabia with $30.8bn, and Qatar with $16.8bn.

  • Trump administration accepts resignation of US ambassadors to Jordan, Saudi Arabia

    The Trump administration has accepted the resignation of the US ambassadors to Jordan and Saudi Arabia, Al Arabiya English has learned. All ambassadors submit their resignations when a new administration takes office, but these two were immediately accepted. A career diplomat, Ratney previously served as the acting deputy director of the State Department’s Foreign Service Institute (FSI). and the chargé d’Affaires at the US Embassy in Jerusalem. He also previously served as the deputy chief of mission at the US Embassy in Qatar as well as the acting deputy assistant secretary for the Levant and Israel and Palestinian Affairs. The veteran diplomat was US special envoy for Syria and served in Mexico City, Baghdad, Beirut, Casablanca and Bridgetown.