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QUOTED
“Saudi Arabia accounted for more than half of the contracts awarded in the region during the quarter with aggregate awards of $23.5 billion against $19.1 billion in Q1-2023, shrugging off underwhelming GDP growth projections by the IMF and continuing its strong non-oil growth rate run.” GCC’s project awards jump 20% to $45b despite geopolitical headwinds [Khaleej Times]
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TOP STORY
Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.
[more]
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MORE TOP STORYLINES
Via Graham Dunbar in apnews.com: FIFA deepened its ties to Saudi Arabia by confirming a sponsorship on Thursday with the kingdom’s state oil firm Aramco which made a profit of $121 billion last year. The deal was expected and became inevitable once Saudi Arabia was all but sealed last October as the 2034 host of the men’s World Cup. The deal through 2027 includes the men’s World Cup in 2026 co-hosted by the United States, Canada and Mexico and the 2027 Women’s World Cup. Hosts of that tournament will be decided next month in a three-candidate vote.
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in argaam.com: Spending on the information and communication technology (ICT) market in Saudi Arabia is expected to reach about $37.4 billion by the end of 2024, showing a growth of 3.3% year-on-year, said Hamza Naqshabandi. Vice President for Custom Solutions in the Middle East, Turkey, and Africa (META) at International Data Corporation (IDC). On the sidelines of the ICT Indicators Forum, Naqshabandi told Argaam that the main factors driving this growth include the emergence of pioneering and emerging digital sectors such as e-tourism, entertainment, and e-sports.
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Via Rebecca Anne Proctor in agsiw.org: Inside the Saudi pavilion, larger-than-life, sand-colored circular panels rise from the floor stretching vertically to the ceiling. They recall the shape of the desert rose, which forms crystal-like clusters and grows in the arid desert landscape in Saudi Arabia’s Eastern Province, near where AlDowayan is from. Covering each panel are dozens of drawings and writings in Arabic and English professing statements such as “Let me be!”; “I am solidarity in the face of storms, I’m love in the face of dryness”; and “Thanks, we don’t need to be saved.”
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MORE ON THE KINGDOM AND BEYOND
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Sen. Ed Markey (D-Mass.), co-chair of the Nuclear Weapons and Arms Control Working Group, is raising concerns over Saudi Arabia’s intention to pursue...[By Laura Kelly via thehill.com]
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The hub currently offers a rigorous multi-track training program accredited and exclusive to Accenture employees covering various areas such as security, cloud, data & AI,...[via timesaerospace.aero]
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Saudi Arabia's drive to attract expats and boost its real estate market could be turbocharged by a largely untapped demographic in the global south: rich...[By Sean Mathews via middleeasteye.net]
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“Under that option, the US and Saudi Arabia would sign agreements on a bilateral defense pact, US help in the building of a Saudi civil nuclear energy industry, and...[via thecradle.co]
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Various reforms have been implemented to enhance the business climate, create jobs, and invite investment into the country. Under this initiative,...[By Yusra Asif via alarabiya.net]
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The 30 April bid deadline for nuclear technology providers to submit bids for a contract to build Saudi Arabia’s Duwaiheen nuclear power plant project has passed without...[By Jennifer Aguinaldo via meed.com]
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Saudi Arabia and Israel are America’s two most important Middle East allies, and the Biden administration is deeply involved with both today, trying...[By Thomas L. Friedman via nytimes.com]
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The move is intended to lure business from international financial centers like Hong Kong and Singapore and particularly nearby Dubai. And bankers...[By Nicolas Parasie via bloomberg.com]
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To secure the 67 votes in the US Senate to become a binding treaty, as Riyadh insists, it almost certainly needs Saudi...[By Henry Meyer via bloomberg.com]
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The Biden administration and Saudi Arabia are finalizing an agreement for U.S. security guarantees and civilian nuclear...[By Humeyra Pamuk, Alexander Cornwell and Matt Spetalnick via reuters.com]
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In the aftermath of Microsoft's $1.5 billion investment in Abu Dhabi artificial intelligence and cloud company G42, the spotlight is now...[By Alvin R Cabral and Salim A. Essaid via thenationalnews.com]
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Dr. Soliman Abdul Kader Fakeeh Hospital and its shareholders are seeking to raise as much as 2.86 billion riyals...[By Julia Fioretti via bloomberg.com]
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Prince Abdulaziz bin Salman, Minister of Energy, stated that the energy sector represents an important aspect of the growing relationship between Saudi Arabia and Uzbekistan,...[via argaam.com]
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Catalin Preda from Romania and America’s David Colturi have become the first people to dive into the wadis of Saudi Arabia in a hike and...[via youtube.com]
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President Biden and the leaders of 17 other nations called on Hamas on Thursday to release all of the hostages seized during...[via nytimes.com]
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U.S. President Joe Biden on Thursday appointed Lise Grande as the new special envoy for Middle East...[By David Ljunggren via reuters.com]
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Early in the process, there was a clear imbalance between Washington’s perception and Tehran’s. Washington thought that engaging Iran on the nuclear file would curb...[By Lina Khatib via foreignpolicy.com]
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The U.S. State Department's spokeswoman for Middle East and North Africa announced her resignation on Thursday, in protest of Washington's policies regarding the Gaza Strip,...[via dailysabah.com]
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Buoyed by strong performance in non-oil sectors, the UAE economy is on track to expand at the fastest clip in the region while Saudi Arabia...[via zawya.com]
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