News
Saudi Arabia Plans To Swap Oil Production For Gaming
The Kingdom is going all in with a massive new game development program.
As Saudi Arabia rapidly transitions from an oil-reliant economy, the government has begun investing in several tech-centric and sustainable projects. With a disproportionately young population, 21 million of which are gamers, officials have recently decided to stake $38 billion on building a local gaming industry from scratch.
The Savvy Games Group — a subsidiary of the Kingdom’s Public Investment Fund (PIF) — will help Saudi Arabia develop and publish its game titles while building a home-grown gaming ecosystem in the capital, Riyadh.
Also Read: DDoS Attacks Are A Growing Threat In Gaming
Saudi Arabia’s Public Investment Fund has already invested billions of dollars into the likes of Nintendo, Activision Blizzard, and Tencent. In a recent interview with Bloomberg News, the CEO of Savvy, Brian Ward, said that the company would look for opportunities to “work together on publishing in (the Middle East and North Africa), run their Esports businesses, or develop new IP together”.
The PIF’s recent round of acquisitions and an extensive portfolio of investments suggest that Saudi Arabia will continue on its aggressive mission to play alongside industry giants such as Microsoft and Sony.
News
NASA Forms New Partnership With Saudi Space Agency
The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.
Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.
Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.
Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl
— وكالة الفضاء السعودية (@saudispace) May 14, 2024
The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.
Also Read: Plans Underway For Massive Middle East Autonomous Freight Network
During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.
-
News1 week ago
UAE Stores May Soon Accept Payments Through Your Palm
-
News2 weeks ago
chatlyn Unveils Hospitality Chatbot At Arabian Travel Market 2024
-
News1 week ago
Orchid Plans To Find Out What’s Wrong With You Before You’re Born
-
News1 week ago
Apple Announces New iPad Pro With M4 Chip And Updated iPad Air