Saudi Arabia
First Saudi envoy to the Palestinians visits West Bank as Israel and Saudi Arabia eye relations
Saudi Arabia also wants Israel to grant at least some kind of concession to the Palestinians in the West Bank, which Israel captured along with east Jerusalem and Gaza in the 1967 Mideast war. On Tuesday in Ramallah, the seat of the Palestinian Authority, al-Sudairi reiterated the kingdom's position in support of the creation of an independent Palestinian state with east Jerusalem as its capital.
Will lingering obstacles derail a Saudi-Israeli pact?
Israeli Prime Minister Benjamin Netanyahu followed that up by telling the United Nations General Assembly "we are at the cusp" of "an historic peace". US President Joe Biden, whose aides are driving the push, wants a deal locked in before he becomes consumed by his re-election campaign next year, according to people briefed on the talks.
Saudi Arabia to raise $11 billion from syndicated loan
Saudi Arabia's Ministry of Finance and ICBC did not immediately respond to a Reuters request for comment. Personally spearheaded by Crown Prince Mohammed bin Salman, Saudi Arabia has embarked on an ambitious economic plan.
Will consider setting up office in GIFT City, says Saudi Arabia
Saudi investment minister Khalid A. Al Falih said within the next few weeks, he would send a strong delegation to GIFT City to explore the opportunity. “I will match your offer and commit today that we will open an office in India for investment facilitation...we are talking about bidirectional (facilitation),” the minister said in response to the suggestion from Goyal.
Ample opportunities for increasing Saudi investments in India: President Murmu
President Droupadi Murmu of India welcomed Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud of Saudi Arabia at Rashtrapati Bhavan and hosted a banquet in his honor. The President emphasized that Saudi Arabia is an important strategic partner for India and expressed satisfaction with the strengthening bilateral ties.
Whole world is focused on one of the most successful G20 summit in India: Saudi Arabia
The announcement about a consensus on the 37-page declaration and its subsequent adoption was made by Prime Minister Narendra Modi at the start of the second session on the opening day of the two-day summit.
Saudi Arabia to consider setting up sovereign wealth fund office in GIFT City to facilitate investments
Saudi Arabia has expressed its interest in setting up an office for its sovereign wealth fund in Gujarat International Finance Tec-City (GIFT) in India. The Saudi Investment Minister, Khalid A. Al Falih, announced that a strong delegation would be sent to GIFT City to explore the opportunity.
India, Saudi Arabia sign pact on renewable energy
India and Saudi Arabia have signed a memorandum of understanding on cooperation and investment in renewable energy, energy efficiency, hydrogen, electricity, and grid interconnection. The countries will strengthen cooperation in areas such as digital transformation, innovation, cyber-security, and artificial intelligence in the energy sector. India's power minister has stated that India's green hydrogen will be the most cost-effective in the world.
Essar Group preps for Green Steel production in Saudi Arabia
Indian conglomerate Essar Group has announced plans to develop a $4.5 billion integrated Green Steel plant in Saudi Arabia. Essar has partnered with Saudi Arabia's Desert Technologies to develop renewable energy generation and storage solutions for the project. The Green Steel Arabia (GSA) project aims to start production in 2027 and will serve industries such as construction, oil and gas, automotive, packaging, and general engineering. The partnership will provide access to green and carbon-free energy storage solutions, boosting the low CO2 emission steel industry.
Soccer: Saudi spending in transfer window second only to Premier League
Earlier this year, the Saudi Public Investment Fund (PIF) announced a Sports Clubs Investment and Privatization Project involving the league champions Al-Ittihad, Al-Ahli, Al-Nassr and Al-Hilal, with a host of top players moving to the league.
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Vale International to supply iron ore to Essar's steel project in Saudi Arabia
Vale International, a subsidiary of Vale SA, has entered into a partnership with Essar Group to supply 4 million tonnes per year of iron ore to Essar's green steel project in Saudi Arabia. This deal ensures 100% raw material supply for the Saudi steel plant, which is expected to start production in 2027.
Saudi Arabia's economy grows 1.2% in Q2
Saudi Arabia's economy grew by 1.2% in the second quarter, with non-oil growth outperforming overall growth. Oil sector activities declined by 4.3% in the same period, while non-oil activities surged by 6.1% due to domestic demand. The country's economy grew by 8.7% last year, resulting in its first budget surplus in almost a decade. However, cuts to production and lower oil prices have impacted oil revenues and are expected to weigh on growth.
China's Huawei opens cloud data centre in Saudi Arabia in regional push
Chinese tech giant Huawei has opened a cloud data centre in Riyadh, Saudi Arabia, as it aims to expand its online services in the Middle East and North Africa. The data centre will support government services in Saudi Arabia and provide AI applications and language models in Arabic. Huawei's regional president said the move would contribute to the development of the country's digital economy.
Saudi Aramco considers selling $50 billion in shares - WSJ
The Public Investment Fund, which sometimes receives government injections of cash, spent 120 billion riyals ($32.00 billion) domestically last year as it sought to implement an ambitious economic agenda to wean the economy off oil by building new industries.
Saudi crown prince Mohammed bin Salman defers Pakistan visit
According to The Nation, the Saudi Crown Prince has also can-celled his visit to India and will not be attending the G-20 summit. However, after con-sultations between the Saudi and Pakistgovernments, the visit to Pakistan has now been postponed.
Why Saudi's billion-dollar football binge is race against time
This summer's transfer fees alone top $830 million, without counting the players' eye-watering wages, or Ronaldo's January signing in a deal which is said to net him 400 million euros over two-and-a-half years. To suddenly spend at this scale and speed is unknown in football, and dwarfs Saudi's scattered acquisitions such as Rivelino, legendary coach Mario Zagallo, Roberto Donadoni and Hristo Stoichkov down the years.
