Bankers go bonkers as FTX dangles 8% stake in hot AI startup Anthropic
Bankers are actively seeking buyers for FTX’s 8% stake in Anthropic, an AI startup, as reported recently. FTX acquired the 8% stake in Anthropic three years ago for $500 million. However, due to the recent surge in the AI sector, the stake’s value has more than doubled to over $1 billion. FTX’s Anthropic stake – […]
Saudi Arabia to Transform Higher Education for Future Jobs
Explore how Saudi Arabia’s higher education transformation, aligned with Vision 2030, is gearing up to meet future job market demands.
Saudi Arabia launches metaverse platform to commemorate culture on founding day
The Saudi Arabian Ministry of Culture has launched a pioneering metaverse platform to showcase the nation’s rich cultural heritage. This innovative initiative was unveiled on Saudi Arabia’s founding day. Bridging the past and future through technology The Cultural Universe metaverse, which went live on Feb. 22, is a digital realm constructed on Oracle’s Hyperledger Fabric […]
BRICS Watch: When can we expect Saudi Arabia’s entry?
As the BRICS alliance unfurls its welcoming banner to new members, the world watches with bated breath, particularly for Saudi Arabia’s pivotal decision on joining this economic powerhouse bloc. The 15th summit of BRICS, held in August of last year, marked a significant expansion with invitations extended to six nations, including the heavyweight oil titan, […]
Binance anticipates Saudi Arabia’s crypto regulation this year
The landscape of cryptocurrency in Saudi Arabia is on the brink of a seismic shift, and Binance, the colossus of crypto exchanges, is at the forefront, eyeing the kingdom’s regulatory horizon with a blend of eagerness and optimism. With Bandar AlTunisi, the head honcho of Binance’s developmental endeavors in Saudi Arabia, hinting at a near-future […]
DLT to soar in KSA with Hashgraph Association’s partnership with Saudi Ministry of Investment
The Hashgraph Association (THA), the Swiss-based organization fostering the Hedera DLT platform has signed a strategic partnership with the Saudi Ministry of Investment (MISA) to launch a “DeepTech Venture Studio” in Riyadh worth $250M over five years (2024-2028). DLT technology will soar with the allocation of this investment in Saudi as will other technologies including […]
Saudi Arabia moves to get back with U.S. after ditching BRICS
Saudi Arabia’s dance between aligning with BRICS and strengthening ties with the U.S. has been like watching a high-stakes poker game, where every move is calculated but you can’t quite tell who’s bluffing. For over a month, the Kingdom has been teasing the world with the prospect of joining BRICS, yet it has decisively inked […]
BRICS grows to $45 trillion wealth club with Saudi Arabia
The economic landscape is shifting, and the tectonic plates of global power are realigning with the BRICS bloc’s latest expansion. With Saudi Arabia stepping into the fold, the alliance’s collective coffers now brim with $45 trillion, overshadowing the G7’s wealth and marking a historic pivot in global economic dynamics. This isn’t just about adding new […]
Saudi Arabia refutes claims it joined BRICS
Amid swirling rumors and mixed messages in the international arena, Saudi Arabia stands firm in its stance regarding the BRICS alliance. Recent buzz around the kingdom’s supposed acceptance of an invitation to join the BRICS bloc – Brazil, Russia, India, China, and South Africa – has been met with a straightforward denial from Saudi officials. […]
Saudi Arabia becomes the newest member of BRICS
Marking a significant shift in global economic alliances, Saudi Arabia has officially confirmed its entry into the BRICS alliance. This move by Saudi, along with four other nations, reshapes the geopolitical landscape and challenges the traditional world order. The inclusion of Saudi Arabia, a nation traditionally aligned with Western interests, particularly the United States, into […]
Saudi Arabia is still interested in BRICS – but here is the problem
Saudi Arabia’s engagement with the BRICS group has become a riveting saga in international relations. Despite being courted by the bloc last year, the Kingdom’s decision remains shrouded in strategic calculations and geopolitical maneuvering. Saudi in BRICS: Assessing the Benefits, Weighing the Options The Kingdom, perched at the crossroads of global power shifts, is meticulously […]
BRICS’ missing piece: Saudi Arabia’s peculiar delay in joining
Saudi Arabia’s hesitation to join the BRICS alliance, despite an open invitation and established trade relations with member countries, continues to raise eyebrows in the international community. This reluctance was highlighted by Saudi Arabia’s Minister of Commerce, Majid Al-Kasabi, during a panel at the World Economic Forum in Davos. While the kingdom’s media previously reported […]
Saudi Arabia makes a BRICS blunder – What went wrong?
Saudi Arabia, a nation known for its strategic geopolitical moves, recently made headlines with a decision that has left many international observers scratching their heads. The Kingdom’s choice to join the BRICS group, comprised of Brazil, Russia, India, China, and South Africa, has raised questions about its implications for Saudi Arabia’s longstanding alliances, particularly with […]
Former U.S. diplomat warns about Saudi’s planned attack on dollar
As we all know, the once unchallenged dominance of the U.S. dollar is now facing potential upheaval. A former U.S. State Department official, Thomas Hill, has sounded an alarm over Saudi Arabia’s potential move away from the dollar, a decision that could have far-reaching implications. Hill’s warning comes amid BRICS’ ongoing efforts toward de-dollarization, with […]
Saudi Arabia Ranks Second Globally in AI Awareness
In a significant leap towards fostering a tech-savvy generation, Saudi Arabia has clinched the second position globally in societal awareness of Artificial Intelligence (AI), according to the 6th edition of the Artificial Intelligence Index report from Stanford University in the United States. The remarkable achievement is attributed to the resounding success of ATHKA, the national […]
What does China and Saudi becoming tight means for the U.S.?
The global stage is witnessing a fascinating shift as China and Saudi Arabia knit closer ties, particularly highlighted by recent events in Hong Kong. This burgeoning relationship, underscored by Saudi Arabia’s Future Investment Initiative Institute hosting its first Asia conference in Hong Kong, paints a new geopolitical landscape. The implications of this alliance for the […]
Healthcare Revolution: Lunit Enhances Cancer Care in Saudi Arabia with AI
In a significant stride towards advancing healthcare in Saudi Arabia, the Saudi Arabian Ministry of Health has launched the Healthcare Sandbox, aligning with the Saudi Vision 2030 strategy. At the heart of this endeavor is a groundbreaking collaboration between Lunit, a leader in AI-powered healthcare solutions, and Seha Virtual Hospital (SVH), the world’s largest virtual […]
Saudi Arabia Partners with China in AI Race, Launches AceGPT
Saudi Arabia takes a strategic leap into the AI arena through a collaboration with two Chinese universities to introduce AceGPT, an Arabic-centric generative AI system. Developed in association with the King Abdullah University of Science and Technology (KAUST), the Chinese University of Hong Kong, and the Shenzhen Research Institute of Big Data, AceGPT is built […]
What if the U.S. starts paying Saudi for oil in riyal?
In the ever-shifting realm of global trade, the age-old question of what currency should dominate oil transactions has reemerged with vigor. A scenario that once seemed improbable is now creating murmurs in corridors of power: What would the world look like if the U.S. were to begin settling its oil transactions with Saudi Arabia not […]
Oil is being dethroned in Saudi Arabia by this new shiny thing
Once hailed as the beacon of the world’s oil industry, Saudi Arabia is rapidly pivoting to an unlikely successor to its liquid gold throne – international sports. With deep pockets and a burning ambition, the Saudi leaders have set their sights on the glamour and allure of the world’s most beloved games to revolutionize their […]
Joe Biden has a Saudi problem – and it is really very bad
As President Joe Biden aims his attention on bolstering the U.S. economy and battling inflation in his pursuit of re-election, he finds himself facing an emerging, problematic situation: a Saudi-imposed oil price surge. With Saudi Arabia and Russia joining forces to push oil prices closer to the alarming $100 mark, Biden’s economic strategies are in […]
BRICS approves six countries to join January 1st
The BRICS coalition is about to change its face and increase its global influence. The prominent bloc, consisting of Brazil, Russia, India, China, and South Africa, is preparing to welcome six additional nations into its fold, marking a significant expansion for the emerging market group. Come the start of the next year, Argentina, Egypt, Ethiopia, […]
BRICS to invite Saudi Arabia and Egypt to join despite caution from some members
BRICS members are making arrangements to extend invitations to prominent oil exporter Saudi Arabia and several other nations to join their coalition to enhance their worldwide impact. At a summit taking place this week in Johannesburg, the heads of state from Brazil, Russia, India, China, and South Africa have reached a consensus to broaden the […]
Saudi Arabia says it doesn’t want to compete with China
Navigating a rapidly changing global economic landscape, Saudi Arabia sets its sights on bolstering ties with China rather than challenging the East Asian giant’s dominant status, according to recent comments by the Kingdom’s Energy Minister Prince Abdulaziz bin Salman. A pivot towards collaboration between Saudi Arabia and China In an interview with CNBC during the […]
Saudi Arabia wants to join BRICS New Development Bank
The Shanghai-based New Development Bank (NDB), often referred to as the “BRICS bank,” is in substantive dialogue with Saudi Arabia about potential membership. If successful, Saudi Arabia would become the ninth member of the influential financial institution. This critical move could solidify the bank’s funding capabilities, particularly as Russia, a founding member, grapples with the […]
Russia in talks with Saudi about a potential BRICS collab
Russian President Vladimir Putin and Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud engaged in discussions regarding the potential collaboration between Saudi Arabia and the BRICS nations on Friday. The leaders also expressed satisfaction with the current level of coordination within OPEC Plus, which aims to ensure global oil market stability. Russia’s strengthening bilateral […]
Saudi Arabia buys Russian oil to evade U.S. sanctions
Saudi Arabia has bought record volumes of Russian diesel to evade U.S. sanctions, according to a recent report by Reuters. Data from Refinitiv, Kpler, and Vortexa showed that traders have taken advantage of low prices to stock up on fuel at the Fujairah hub of the United Arab Emirates and in Saudi Arabia. The Middle […]
Saudi Arabia’s Crown Prince says he is no longer interested in “pleasing” the U.S.
Tensions are high in the global geopolitical landscape, with several nations moving away from the US dollar and pointing fingers at each other for the macroeconomic crisis. Leaders from around the world have been openly expressing their disapproval. A recent report by the Wall Street Journal has revealed that Saudi Arabia’s Crown Prince, Mohammed bin […]
Saudi Arabia cuts ties with the U.S. for economic independence
In a surprising move, Saudi Arabia and the OPEC+ group of producers have announced a cut in oil production of approximately 1.6 million barrels per day. While the move is aimed at achieving market stability, according to a recent report from the Financial Times, Saudi Arabia is attempting to adopt an economic strategy that is […]
Saudi Arabian expert says Bitcoin is a first-class speculation tool
TL;DR Breakdown: Saudi Arabian expert called Bitcoin a first-class speculation tool. The expert said cryptocurrencies could have a place if the prices are determined by the central banks. The leading digital currency, Bitcoin (BTC), faced a lot of objection during its early stage of development. However, the cryptocurrency has managed to break records with its […]
