Author: Editorial Team

RIYADH — The Saudi Capital Market Authority (CMA) has approved amendments to the Executive Regulation of the Companies Law for listed joint stock companies as part of enhancing the regulatory framework governing the removal of board members and the mechanism for determining and distributing profits in listed companies. The amendments aimed to establish clear controls for the removal of board members by the general assembly, strengthening corporate governance by enabling shareholders to exercise their rights, monitor board performance, enhance transparency, and improve investor protection, thereby supporting capital market stability. They also introduce greater flexibility in regulatory requirements related to distributable…

RIYADH — The Saudi Capital Market Authority (CMA) has approved a regulatory framework for offering Special Purpose Acquisition Companies (SPACs) in the Nomu parallel market. This is through amendments to the Executive Regulation of the Companies Law for listed joint stock companies, the Rules on the Offer of Securities and Continuing Obligations, and the Glossary of Defined Terms used in the CMA’s regulations and rules. The amendments will come into force upon publication. The amendments aimed to diversify available investment products and encourage private sector companies to pursue listing, contributing to meeting financing needs, increasing offerings, and enhancing liquidity in…

Under the patronage of Governor of Al-Jouf Region Prince Faisal bin Nawaf bin Abdulaziz, Governor of Suwair Nasser Al-Sahli inaugurated the second edition of the Al-Jouf Winter Festival, in the presence of several directors of government and security agencies, and with notable attendance from residents and visitors.  The inauguration ceremony featured a musical operetta performed by the Saudi Ardah troupe, presenting an artistic tableau that reflected the region’s cultural heritage.  Following this, the heritage village was opened, comprising 20 pavilions dedicated to small family businesses and entrepreneurs. The village was designed according to northern Najdi architectural standards, showcasing the region’s…

Microsoft revealed it was on track to invest $5.5 billion in Singapore between 2025 and the end of 2029. This move includes the expansion of AI and cloud infrastructure. The sum comprises cash to support ongoing operations and funds to boost cloud and AI infrastructure. In its statement, the company also outlined measures to expand education and workforce programmes in the country. This includes giving tertiary students free access to AI productivity tools, supporting the government’s focus on digital skills development. More than 200,000 university and vocational students will receive a year of Microsoft 365 Premium with Copilot, providing access…

RIYADH — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan held on Thursday phone calls with foreign ministers of China and Japan. During the phone call, Prince Faisal and Chinese Minister of Foreign Affairs and Member of the Political Bureau of the Central Committee of the Communist Party of China Wang Yi discussed the latest developments in the region. Also on Thursday, Prince Faisal received a phone call from Japanese Minister of Foreign Affairs Toshimitsu Motegi. During the call, they discussed the latest developments in the region. They also reviewed bilateral cooperation between the two countries. Source: Saudi Gazette

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan held on Thursday a phone call with Russian Minister of Foreign Affairs Sergey Lavrov Source: Saudi Gazette

King Faisal Specialist Hospital and Research Centre (KFSH) successfully applied gene therapy in a patient with sickle cell disease by modifying hematopoietic stem cells to correct the underlying genetic defect, followed by reinfusion of the modified cells, as part of a clinical trial aimed at expanding treatment options for patients ineligible for allogeneic stem cell transplantation.  According to a KFSH press release issued today, beyond addressing the root cause of disease, gene therapy has a meaningful impact on patients’ quality of life. It helps reduce the frequency of painful health crises and minimizes reliance on long-term supportive treatments such as…

OpenAI recently secured a record $122 billion in fresh capital, lifting its valuation to $852 billion. This move comes as the AI player continues to accelerate spending on chips, data centres and enterprise growth. The funding round, OpenAI’s largest to date, was led by Amazon, Nvidia and SoftBank, which Bloomberg reported together contributed $110 billion. According to the publication, Amazon committed $50 billion, while Nvidia and SoftBank Group each invested $30 billion. Other backers included MGX, D.E. Shaw Ventures and TPG. OpenAI also opened the round to a limited pool of individual investors, drawing in around $3 billion. In a…

JEDDAH — Saudi Crown Prince and Prime Minister Mohammed bin Salman received on Thursday a phone call from Russian President Vladimir Putin. During the call, they discussed the rapidly evolving situation in light of the military escalation in the region. In this context, Putin affirmed Russia’s support for safeguarding Saudi Arabia’s sovereignty and territorial integrity.The two leaders discussed the negative repercussions of the escalation and its impact on maritime security and the global economy. They also exchanged views on a number of regional and international issues and topics of common interest. Source: Saudi Gazette

RIYADH — On behalf of Saudi Minister of Foreign Affairs Prince Faisal bin Farhan, Deputy Minister of Foreign Affairs Waleed Al-Kheraiji attended the ministerial meeting to coordinate the reopening of the Strait of Hormuz via video conference on Thursday. The meeting, chaired by the United Kingdom and attended by ministers from 35 countries, discussed joint action to reopen the Strait of Hormuz. In her presidential speech, British Foreign Secretary Yvette Cooper said Iran’s “recklessness” in blockading the waterway was “hitting our global economic security.” The meeting emphasized that any infringement upon freedom of navigation constitutes a serious threat to international…