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The Latest Breaking News from Saudi Arabia

Saudi Arabia discloses investment in dozens of VCs

Saudi Arabia has invested in technology and other sectors in a bid to diversify the country’s economy away from oil.

Fortune

Silicon Valley and Saudi Arabia are still closely intertwined despite age-old controversy

Nearly 40 venture firms, from Andreessen Horowitz to Craft Ventures to Techstars, have accepted money from Saudi Arabia’s sovereign wealth fund.

Fortune

Saudi Arabia to Lead Middle East Countries in Sustainable Space Sector Development

As the Saudi space strategy approaches its launch, expectations for investment in the space sector are growing, with an industry expert predicting that the anticipated budget may be comparable to major space economies. Moreover, Riyadh is expected to lead the way in creating a competitive and regulatory environment with an…

Asharq Al-Awsat

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Saudi Arabia Achieves Record Growth in Promising Sectors

Saudi Arabia has achieved record growth in indicators of economic activities in promising sectors during the first quarter of this year, one of the opportunities launched by Vision 2030 for the local and foreign business sectors. According to a recent report by the Ministry of Commerce, a copy of which…

Asharq Al-Awsat

Iran Vice President: Raisi Accepts Invitation to Visit Saudi Arabia

Iranian Vice President Mohammad Mokhber revealed that President Ebrahim Raisi has accepted an invitation to visit Saudi Arabia. He made the announcement hours after Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah and his Iranian counterpart Hossein Amir-Abdollahian held telephone talks on Sunday. The FMs discussed the future steps…

Asharq Al-Awsat

What will it mean for petrol prices after Saudi Arabia cut oil production?

Brent crude oil is trading close to $85 a barrel, jumping by almost 6 per cent.

The Independent UK

How Russia will benefit from fresh oil production cuts

London (AFP) - The shock announcement by several OPEC+ members to voluntarily cut their oil production by more than a million barrels per day from May has sent world oil prices soaring, in a move widely seen as the tightening of the bond between Russia and Saudi Arabia.

AFP

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Analysis - Saudi crown prince acts to realign Mideast dynamics amid concern over US support

Saudi Arabia's unpredictable crown prince is pushing hard to realign Middle East dynamics, engaging with old foes and orchestrating OPEC oil cuts like the ones on Sunday which took the global market by surprise.

Reuters

How Veloce transformed itself to become a race-winning force in Extreme E

The 2023 Extreme E season kicked off earlier this month with back-to-back races in Saudi Arabia and one team that stood out from the rest of the competition was Veloce Racing.

Autosport

Egypt's leader makes snap Saudi visit as economic woes mount

Riyadh (AFP) - Egyptian President Abdel Fattah al-Sisi met Saudi Arabia's de facto ruler on a brief visit late on Sunday, state media said, as the North African country grapples with severe economic difficulties.

AFP

John Fury makes violent threat to "horrible" Deontay Wilder in furious rant

Deontay Wilder launched himself into fiery criticism of former three-time rival Tyson Fury last week despite the pair warmly greeting each other in Saudi Arabia, and John Fury has suggested he would have punched the American

Daily Mirror

Oil prices soar after Opec+ announces surprise production cuts

World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts despite already angering the United States with a similar move last year.

Radio France Internationale

Reducing Oil Production: A New Pillar to Support Global Economic Conditions

In support of the stability of the global oil markets, and the enhancement of the balance between supply and demand, the member of the Organization of Petroleum Exporting Countries (OPEC) and the producing countries within the OPEC+ have decided to implement a voluntary reduction of crude oil production. Experts described…

Asharq Al-Awsat

Oil market surges on shock output cuts

London (AFP) - World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts despite already angering the United States with a similar move last year.

AFP

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The Independent UK

Leaders of Egypt, Saudi Arabia meet after months of tension

The leaders of Egypt and Saudi Arabia have met in the kingdom amid months of tension between the two regional powers

Asharq Al-Awsat

Boeing Affirms Support for Safe, Sustainable Aviation Market in Saudi Arabia

Boeing Co.

Al Jazeera

Egypt’s el-Sisi visits Saudi Arabia amid financial pressure

El-Sisi meets Crown Prince Mohammed bin Salman as Egypt’s economic woes deepen.

Asharq Al-Awsat

Saudi-British Partnership to Establish First Hospitality Investment Fund

A British giant in the global hospitality industry has revealed talks with Saudi authorities to establish a fund aimed at accelerating and developing investment in the kingdom’s hotel sector. CEO of Soric International Mark Blick told Asharq Al-Awsat that he recently conducted discussions with the Investment Ministry regarding ways to…

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The Independent UK

Analysis: Saudi prince pivots to peace after years of war

In the years since Saudi Crown Prince Mohammed bin Salman catapulted to power, it’s hard to find a controversy in the Middle East that doesn’t somehow involve the 37-year-old heir to the throne

The Independent UK

Oil prices soar on producer output cuts; Asian shares mixed

Oil prices have soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year

Tribune News Service

OPEC+ makes shock million-barrel cut in new inflation risk

OPEC+ announced a surprise oil production cut of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy.

AFP

Oil powers announce surprise cuts of more than 1 million bpd

Riyadh (AFP) - Major oil powers led by Saudi Arabia announced a surprise production cut of more than one million barrels per day on Sunday, calling it a "precautionary" move aimed at stabilising the market.

Reuters

Egypt's Sisi visits Saudi Arabia amid financial pressure, regional realignment

Egyptian President Abdel Fattah al-Sisi visited Saudi Arabia on Sunday, Saudi state news agency SPA said, as Cairo seeks financial inflows to ease pressure on its currency and bolster a faltering economy.

The Independent UK

Saudis to cut oil production by 500,000 barrels per day

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023

Asharq Al-Awsat

Saudi, Iranian FMs Discuss Future Steps after Agreement to Normalize Ties

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah received on Sunday a telephone call from his Iranian counterpart Hossein Amir-Abdollahian. The officials discussed several issues of common interest between their countries. They also tackled the future steps they will take after Saudi Arabia and Iran agreed to normalize relations,…

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