Saudi Arabia
Podcast: How pro video gaming, or esports, is taking off with big dollars behind it
Video gaming is big business. The global market is expected to reach $187.7 billion in 2024, according to data firm Newzoo. And in the industry, there has been a big effort to boost esports, which is competitive gaming, and turn it into a professional sport on part with soccer or football. Esports involves teams or […]
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OPEC is highly bullish on long-term oil demand growth. Not everyone agrees
The sun sets beyond crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Bloomberg | Bloomberg | Getty Images Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in […]
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Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’
Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models. Speaking to CNBC on Thursday, a top official at the Saudi Data and AI Authority, Abdulrahman Tariq Habib, said the kingdom expected to make such a stride in […]
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‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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U.S. military says Yemen’s Houthis attacked two crude oil tankers in Red Sea
Tankers located in the waters near Ceuta, Spain are transferring crude oil from Russia to reach the Asian markets in spite of Western sanctions. Europa Press News | Europa Press | Getty Images Yemen’s Iran-backed Houthi rebels attacked two crude oil tankers — the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I — in the Red Sea on Monday, the U.S. military said, calling the assaults “reckless […]
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No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere. The kingdom’s $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump 29% to […]
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Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes
A 3D printed natural gas pipeline on Feb. 8, 2022. Dado Ruvic | Reuters Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Aramco reaffirmed its second-quarter base dividend of $20.3 […]
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I’ve been to 100 countries. I didn’t expect to want to return to these 5
I’m often asked: “What is your favorite country to visit?” For an avid adventurer, it’s a confounding question. How to distill culture, vibes, food, scenery, and all the other factors that shape the international travel experience? Identifying the nations I have explored in depth over multiple visits — popular places like Turkey, Nepal, South Africa […]
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U.S. and Saudi Arabia sign agreement for joint space exploration and research
Rana Dias | Caiaimage | Getty Images The U.S. and Saudi Arabia pledged to collaborate on civilian space research and exploration in a bid to strengthen joint work between the allies, NASA and the State Department said in a Tuesday statement. The two nations signed a framework agreement for cooperation on areas including aeronautics, education […]
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