Saudi Press

Saudi Arabia and the world
Wednesday, Nov 06, 2024

Global Focus: Medical Evacuations in Gaza, China's Financial Moves in Saudi Arabia, and Saudi Arabia's Ambitious Economic and Cultural Initiatives

Evacuations begin for over 100 patients from Gaza as WHO calls for more aid; China bonds and mining deals highlight Saudi Arabia’s economic diversification efforts amid falling Aramco profits.
Urgent medical evacuations have begun in Gaza, with the World Health Organization facilitating the transfer of over 100 patients to the United Arab Emirates and Romania, but highlighting the need for ongoing medical assistance for the 12,000 still awaiting transfer.

Meanwhile, China is strengthening its ties with Saudi Arabia by planning to issue $2 billion in dollar bonds in the Kingdom, marking its first U.S. currency issuance since 2021.

Further solidifying this partnership, Saudi Arabia has issued 11 mining exploration permits as part of its Vision 2030, aiming to develop its mineral wealth and establish mining as a key industrial pillar.

On the economic front, Saudi Aramco reported a decline in third-quarter earnings due to lower oil prices, yet saw a rise in cash flows and maintained its commitment to dividends and renewable investments.

In the realm of entertainment, Turki Alalshikh has launched AlHisn Big Time Studios in Riyadh, transforming the city into a creative production hub as part of the Riyadh Season, equipped with modern facilities to boost the local film and television industry.

Lastly, Saudi Arabia is advancing cooperation with the U.S. for the peaceful use of space and has announced initiatives for regional peace and economic investment, including a call for an Arab-Islamic summit to address Middle Eastern conflicts.
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