Saudi Arabia’s Public Investment Fund (PIF), headed by Crown prince Mohamed bin Salman (MBS), took control of augmented reality pioneer Magic Leap for $450 million, The Telegraph reported this week. The US-based tech firm, which was supported with...
Saudi Arabia’s Cultural Development Fund is poised to launch a new $233m ($879m Saudi Riyal) film industry financing program in the first quarter of 2023, which will be open to both local and international entities, Deadline Hollywood reveled this...
Saudi Arabia may be weighing in on plans for a 2-kilometer-tall, world’s tallest tower, for its 18-square-kilometer master-planned area in the capital city of Riyadh, the Interesting Engineering website revealed this week. The proposed...
The United States Institute of Peace said in a new report that even as China’s ties with Saudi Arabia and the region deepen, Washington remains an indispensable partner despite perceptions of retrenchment. The United States has long been Saudi...
Forbes magazine revealed in a recent report that Lucid Group’s share price has sharply declined after losing 82% of its value this year. Saudi Arabia’s Public Investment Fund holds nearly 62% of Lucid’s common stock, the US...
In a rare interview with the Saudi state-owned Al-Arabiya news channel, the Israeli newly-elected Prime Minister Benjamin Netanyahu renewed vows to normalise ties with Saudi Arabia once he takes office. I think we can have a new peace initiative...
Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) has spent billions of dollars on high-profile international sporting events in a bid to bolster his reputation, which hit a low after the 2018 assassination of Washington Post columnist...
The Saudi governor of the sector’s General Authority Ahmad Al-Ohali said that Saudi Arabia has spent 5.1 billion riyals ($1.4 billion) in incentives to boost its local military industry over the last two years. Ahmad Al-Ohali said the...
Saudi Arabia and China showcased deepening ties with a series of strategic deals on Thursday during a visit by President Xi Jinping, including one with tech giant Huawei, whose growing foray into the Gulf region has raised US security concerns...
A CNN report revealed that Saudi Crown prince Mohammed bin Salman (MBS)’s Vision 2030 prides itself on offering “world-class entertainment” and says that it has organized up to 3,800 entertainment events in the country, attended by more than...
