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Saudi Arabia’s Loss-Making U.S. Investments: Buying Influence

Following Saudi Arabia’s purchase of the PGA Tour, a new Senate report revealed the dictatorship’s ballooning share of the American economy.

The post Saudi Arabia’s Huge U.S. Investments Lose Money — but Buy Influence appeared first on The Intercept.

“Bahrain invests $1.3bn in UK economy: Key deals signed”

LONDON: Bahrain has signed a memorandum of understanding for strategic investments and collaborations with Britain that will see the Gulf state’s private sector invest 1 billion pounds ($1.3 billion) in Britain, the Bahraini crown prince’s social media account said on Monday. The investments will be through Bahraini sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group, and Osool Asset Management.

Saudi Arabia’s Hajj Boost for Travel and Hospitality Sectors

DUBAI: Three years after the COVID-19 pandemic forced Saudi Arabia to impose strict travel restrictions, this year’s Hajj has given a palpable boost to the regional economy, with an estimated 1.6 million Muslims from around the world converging on Islam’s holiest sites. The annual pilgrimage began on Sunday with the ritual of Tawaf Al-Qudum, when pilgrims dressed in white robes walk in a circle around the Kaaba, the stone structure at the center of Masjid Al-Haram, or the Grand Mosque, the most important mosque and holiest site in Islam.

Saudi Arabia unemployment rate Q1 2022 drops to 5.1%

RIYADH: Saudi Arabia’s jobs targets outlined in Vision 2023 have borne results, with its overall unemployment rate falling 0.9 percentage points to 5.1 percent in the first quarter of 2023 compared to the same period a year ago, official data showed.  According to the latest report by the General Authority for Statistics, the labor force participation of Saudis increased annually by 2.3 percentage points in the first quarter. The employment-to-population ratio also increased by 2.9 percentage points. 

Yin Ruoning of China Wins Women’s PGA Championship

NEW YORK: China’s Yin Ruoning sank a 10-foot birdie putt on the final hole on Sunday to win the Women’s PGA Championship for her first major title. The 20-year-old from Shanghai fired a 4-under 67 to finish 72 holes at Baltusrol on 8-under 276 and defeat Japan’s Yuka Saso by one stroke. Yin took the $1.5 million top prize and became only the second woman from China to win a major title after Feng Shanshan, who captured the 2012 Women’s PGA crown.

Prince Fahd bin Jalawi elected president of Asian Triathlon Federation

The 31st General Assembly of the Asian Triathlon Confederation unanimously elected Prince Fahd bin Jalawi bin Abdulaziz bin Musaed as president for the next four years, the second Saudi sports figure to head the continental Olympic sports federation. The announcement came during the meeting of the General Assembly, which was held on June 23 in Tokyo in the presence of Eng. Ali Maqbool, president of the Saudi Triathlon Federation, and Joud Jamjoom, his deputy, along with 34 heads from Asia Triathlon’s national federations.

AI and Construction to Dominate Future Jobs in Saudi Arabia, According to PMI Official

RIYADH: Saudi Arabia, a country which has been dependent on its rich oil reserves for several decades, is now on a path of economic diversification. With Vision 2030, Saudi Arabia’s Crown Prince Mohammed bin Salman is proving that the Kingdom could perform well in non-oil private sectors too.   As Saudi Arabia’s private sector expands rapidly, the Kingdom is expected to provide more job opportunities to nationals and foreign talents alike in the coming years. 

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