Stories from Riyadh · Saudi Arabia

The Saudi Public Investment Fund has lost over one billion US dollars according to reports. The fund's aggressive investment strategies have caused friction within the professional golf community, specifically regarding the PGA and LIV Golf. The fund is expected to appoint an independent board of members following the departure of its Governor. Liv Golf has confirmed that it will no longer receive funding from Saudi Arabia's Public Investment Fund. The cessation of funding is scheduled to take effect at the end of the current season. Liv Golf is expected to lose funding from the Saudi Kingdom's public investment funds by the end of this season. The loss of support comes from the Kingdom's public investment funds. The source did not specify the exact date of the funding cessation beyond the end of the current season.

Mexican boxer Canelo Alvarez has been contracted for four fights in a deal worth $900 million. The agreement follows previous tensions between the boxer and a Saudi Arabian sheikh. The sheikh reportedly retracted previous criticisms of Alvarez's skills to secure the deal.

The General Transport Authority reported that more than 45 million passengers were transported via the Kingdom's aviation sector during the first quarter of this year. Saudi Arabia has massively scaled back the planned desert city of Neom. Construction of a 50 billion skyscraper over Riyadh was also suspended in January. Cook of the Council on Foreign Relations discussed these developments regarding Saudi Arabian spending. These developments follow discussions regarding the kingdom's financial capacity, according to the BBC World Service. The kingdom must fund major upcoming events including the World Expo and the World Cup. The source noted that the country cannot print money to meet these obligations and is currently prioritizing projects. This reassessment follows the Crown Prince's previous commitment to these large-scale developments.

The fourth phase of implementing residential and commercial design guidelines for Saudi architecture began today. The guidelines include 19 architectural styles inspired by the kingdom's geographic and cultural characteristics. Implementation will extend to several cities and provinces across the Riyadh, Makkah, and Northern Borders regions, as well as the city of Tabuk. The project is based on urban and cultural studies to enhance innovation. The implementation was initiated via video conference at King Abdulaziz Medical City in Riyadh. This move is part of the broader Saudi Architecture Map framework.

The condition of Filipino conjoined twins has stabilized seven days after a successful separation surgery. The procedure took place at King Abdulaziz Medical City under the Ministry of National Guard in Riyadh. Dr. Abdul Rabia, the medical and surgical team leader, confirmed the stability of the children. The surgery took place at King Faisal Specialist Hospital and Research Centre. Abdullah Rabia, head of the medical and surgical team for the Saudi Conjoined Twins Program, provided the update. The procedure was conducted as part of the Saudi program's efforts to assist pilgrims. The separation procedure was performed last Thursday at King Fahd Hospital. The conjoined twins, Kyelia and Maurice Anne, are reported to be in stable condition.

The Mawhiba organization announced the results for the Kangaroo 2026 competition. A total of 1,981 male and female students won in the competition. These winners were selected from a pool of 3,519 total participants who took the tests.

King Faisal Specialist Hospital and Research Centre has been named the most valuable health brand in Saudi Arabia and the Middle East for the fourth consecutive year. The brand value exceeds 1.7 billion USD, which is more than 6.3 billion Saudi riyals.

Saudi Arabia's Public Investment Fund plans to stop financial support for LiveGolf. The announcement was reported by the BBC World Service. The Liv Tour was established as a breakaway from the PGA Tour and has offered billions of dollars to attract top players. The source did not specify the reason for the funding cessation. Saudi Arabia's Public Investment Fund will stop financing live golf at the end of the 2026 season. The fund has invested billions into the league since 2022. This decision creates uncertainty regarding the future of the breakaway league. US media reports suggest the move could impact the league's trajectory. The decision follows controversy surrounding the tour, which critics have described as sportswashing. The decision follows accumulated losses of approximately $1.4 billion within the circuit. The fund reportedly generated only $100 million in revenue in 2025.

Saudi authorities have reportedly assessed and admitted that several architectural ventures are not working as intended due to high costs. The recycled materials are used to create asphalt layers for roads to prevent material waste. Saudi Arabia has executed a journalist as part of a judicial procedure. The execution was reportedly based on the individual's writings. The source noted this is a grave situation occurring amidst efforts to present a more open society. The event occurs amid claims by Saudi Arabia regarding liberal social reforms. Norway remains at the top of the press freedom rankings, maintaining its position for over ten years. The report notes a decline in press freedom across seven Northern European countries, including Norway. The Saudi government's public investment fund has spent approximately £3.7 billion on sports funding over the last four years.

SABIC reported a net profit of 13.1 million riyals during the first quarter. Results were supported by improvements in the chemicals sector despite pressures from rising financing costs and lower profit shares from associates. Quarterly momentum also saw oil-related momentum rise by approximately 1 billion. This figure represents a 10 percent decrease compared to the 121 million riyals earned during the same period last year. The company attributed the decline in earnings to rising costs resulting from new expansions and store openings. The group's board was authorized to distribute cash dividends on a semi-annual or quarterly basis for the current year. The report noted that profits were positively impacted by acquisitions, including the disbursement of member bonuses valued between 1.5 million and 1.8 million riyals.