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AMAK and Maaden Sign Agreement to Exchange Mining Exploration Licenses in Saudi Arabia

AMAK and Maaden Sign Agreement to Exchange Mining Exploration Licenses in Saudi Arabia

Al Masane Al Kobra Mining Company (AMAK) and the Saudi Arabian Mining Company (Maaden) have entered into a strategic agreement to exchange several exploration licenses. This partnership aims to maximize value creation in Saudi Arabia's mining sector. The agreement involves swapping licenses to enhance operational efficiencies and align with investment goals. The transfer of licenses, which includes those related to precious and base metals, is subject to regulatory approval from the Ministry of Industry and Mineral Resources. This initiative is expected to optimize resource management and support the Kingdom's mineral wealth utilization.

PGxAI and Lean Business Services Partner to Advance AI Pharmacogenomics in Saudi Arabia

PGxAI and Lean Business Services Partner to Advance AI Pharmacogenomics in Saudi Arabia

PGxAI, a U.S.-based leader in AI-powered pharmacogenomics, has formed a strategic partnership with Lean Business Services and Najashi Holding to implement AI-driven pharmacogenomics across Saudi Arabia. This initiative is part of Saudi Arabia's Vision 2030 Health Sector Transformation Program. The collaboration aims to establish a localized data infrastructure to generate, secure, and apply genomic insights within the country, thereby reducing adverse drug reactions on a population scale. The partnership focuses on data sovereignty and clinical integration, positioning Saudi Arabia as a regional leader in precision medicine. By integrating genomic insights into clinical workflows, the initiative seeks to minimize avoidable adverse drug reactions while ensuring that intellectual property and data governance remain within the Kingdom.

Red Sea Film Foundation CEO Faisal Baltyuor Discusses Saudi Arabia's Entertainment Ecosystem Development

Red Sea Film Foundation CEO Faisal Baltyuor Discusses Saudi Arabia's Entertainment Ecosystem Development

Faisal Baltyuor, a prominent figure in Saudi Arabia's film industry, has been appointed as the CEO of the Red Sea Film Foundation. This organization is pivotal in developing the country's entertainment ecosystem, hosting the annual Red Sea International Film Festival and supporting filmmakers through various initiatives. Baltyuor's extensive experience in film production and distribution positions him as a key player in Saudi Arabia's rapidly growing film and TV industry. The foundation aims to fill gaps in the entertainment value chain by fostering talent, supporting film production, and attracting international collaborations. Baltyuor emphasizes the importance of building a sustainable industry that balances commercial and art house films, aligning with Saudi Arabia's Vision 2030 plan.

Saudi Arabia Expands Alcohol Sales to Wealthy Foreign Expats in Riyadh

Saudi Arabia Expands Alcohol Sales to Wealthy Foreign Expats in Riyadh

Saudi Arabia has discreetly expanded its alcohol sales policy by allowing wealthy foreign expatriates with 'premium residency' status to purchase alcohol in a store located in Riyadh. Previously, alcohol sales were restricted to foreign diplomats. The new policy requires expats to have spent at least 30 months in the country over the past five years and earn a minimum monthly income of 50,000 riyals (approximately $13,300). Access to the store is controlled through a reservation system and a points-based purchase limit. This move is part of Saudi Arabia's broader strategy to develop its non-religious tourism sector, although there has been no official announcement regarding this policy change.

Aleph Hospitality Secures Tapestry Collection by Hilton for New Hotel in Saudi Arabia

Aleph Hospitality Secures Tapestry Collection by Hilton for New Hotel in Saudi Arabia

Aleph Hospitality, a leading independent hospitality management company in the Middle East and Africa, has announced the acquisition of the Tapestry Collection by Hilton brand for a new hotel in Dammam, Saudi Arabia. This upcoming 84-key hotel, owned by AREA Investment and Real Estate, marks Aleph Hospitality's third Tapestry Collection property under management. The hotel is scheduled to open in 2027 and will be part of Hilton's portfolio of independent boutique hotels, known for their cultural charm and unique experiences. The hotel will also participate in Hilton Honors, the company's guest loyalty program.

Maaden and AMAK Sign Agreement to Boost Saudi Arabia's Mining Sector

Maaden and AMAK Sign Agreement to Boost Saudi Arabia's Mining Sector

Almasane Alkobra Mining Company (AMAK) and Saudi Arabian Mining Company (Maaden) have entered into an agreement to exchange exploration licenses. This strategic move is designed to enhance the operational integration and efficiency of both companies in exploring and developing new mining projects. The agreement involves transferring a set of exploration licenses from Maaden to AMAK, aligning with AMAK's expansion plans. In return, Maaden will receive several licenses from AMAK. This exchange aims to improve the effectiveness of geological exploration and foster the development of promising mining projects. AMAK's CEO, Eng. Geoff Day, emphasized the importance of this partnership in accelerating exploration activities and expanding project portfolios, which aligns with the Kingdom's Vision 2030 goals for the mining sector.

Danny Murphy Criticizes Mohamed Salah for Public Comments on Liverpool Management

Danny Murphy Criticizes Mohamed Salah for Public Comments on Liverpool Management

Danny Murphy Criticizes Mohamed Salah for Public Comments on Liverpool Management

IHG Hotels Resorts Partners with SEDCO Capital to Launch Hotel Indigo in Jeddah

IHG Hotels Resorts Partners with SEDCO Capital to Launch Hotel Indigo in Jeddah

IHG Hotels & Resorts has signed a management agreement with SEDCO Capital to launch Hotel Indigo Grand Square Jeddah. This 150-key lifestyle hotel marks the first collaboration between the global hospitality group and the Saudi real estate investment fund. The hotel will be a central component of the Grand Square mixed-use development on King Abdulaziz Road in Jeddah. The project is developed through a strategic partnership involving Ajdan Real Estate Development Company, MASIC Investment Company, and SEDCO Capital. Hotel Indigo Grand Square Jeddah aims to introduce a new model of contemporary living by integrating hospitality, retail, and office spaces within one destination. The hotel will reflect the brand's signature design approach, offering guests a neighborhood-inspired stay shaped by the local culture and energy.

Ray Dalio Highlights Middle East's Emergence as AI Hub Amid Market Concerns

Ray Dalio Highlights Middle East's Emergence as AI Hub Amid Market Concerns

Ray Dalio, founder of Bridgewater Associates, has highlighted the Middle East's rapid emergence as a significant hub for artificial intelligence (AI), likening it to Silicon Valley's role in technology. Speaking at the Future Investment Institute 2025 summit in Riyadh, Dalio noted that countries like the United Arab Emirates (UAE) and Saudi Arabia are attracting global talent and investment through substantial capital and strategic initiatives. These nations have launched multibillion-dollar projects to develop AI infrastructure, supported by sovereign wealth and international tech partnerships. Notably, a $10 billion agreement between Google Cloud and Saudi Arabia's Public Investment Fund aims to establish a global AI hub. Additionally, major tech companies like OpenAI, Oracle, Nvidia, and Cisco are collaborating on a significant AI campus in the UAE. Dalio emphasized the region's strategic planning and statecraft as key factors in its transformation into a competitive financial ecosystem.

Saudi Arabia Eases Alcohol Restrictions for Wealthy Non-Muslim Residents

Saudi Arabia Eases Alcohol Restrictions for Wealthy Non-Muslim Residents

Saudi Arabia has begun allowing non-Muslim foreign residents to purchase alcohol, provided they meet certain income requirements. This policy change is part of the country's Vision 2030 plan to make Riyadh a more competitive international business hub and attract foreign investment. The only liquor store in Saudi Arabia, located in Riyadh, now permits access to non-Muslims who earn more than 50,000 riyals (approximately $13,300) per month. Previously, the store only sold alcohol to foreign diplomats. The new policy requires residents to present a salary certificate to gain entry to the store. This move is seen as part of broader efforts to modernize the country's laws and attract skilled professionals and investors.

Saudi Arabia Eases Alcohol Restrictions for Foreign Residents, Signaling Potential Policy Shift

Saudi Arabia Eases Alcohol Restrictions for Foreign Residents, Signaling Potential Policy Shift

Saudi Arabia is reportedly easing its strict alcohol bans, allowing an unmarked store in Riyadh to discreetly sell alcohol to affluent foreigners. This development, reported by the New York Times, indicates a potential shift in the Kingdom's conservative policies as it seeks to attract international appeal. The store, which lacks an online presence, sells alcohol to those with 'premium residency,' a program designed to attract skilled foreign nationals. Bloomberg reports that entry to the store requires proof of a monthly salary exceeding 50,000 riyals. This move aligns with Saudi Arabia's broader strategy to balance religious conservatism with global expectations, as it diversifies its economy beyond oil dependency.

Gulf Cooperation Council Establishes Unified Aviation Authority to Enhance Regional Air Travel

Gulf Cooperation Council Establishes Unified Aviation Authority to Enhance Regional Air Travel

The Gulf Cooperation Council (GCC) has announced the establishment of the GCC Civil Aviation Authority, a new regional regulator headquartered in the United Arab Emirates. This development was revealed by GCC Secretary General Jasem Mohamed Al Budaiwi at the conclusion of the 46th GCC Summit in Bahrain. The authority aims to unify the Gulf airspace, similar to the European Union's single aviation market. The GCC, which includes six member states, is home to over 23 international airports and 17 airlines. The new authority is expected to streamline operations, enhance safety and security standards, and facilitate smoother regional connections. It will also implement a single operating manual for major airlines like Emirates, Qatar Airways, and Etihad, covering aspects such as pilot licensing and air traffic management.