Arabia

Saudis want to live longer, healthier lives.Photo: Amr Nabil (AP)The obnoxiously affluent Saudi Arabia is trying to prove that maybe money can buy everything after all, pouring $1 billion a year into researching ways to slow down the effects of aging. The gulf state’s royal family started a non-profit organization that would grant funds to scientists to understand the underlying causes of aging, and how to mitigate them using drugs, according to the MIT Technology Review.The Hevolution Foundation will look into biotech…

The Saudi royal family has started a not-for-profit organization called the Hevolution Foundation that plans to spend up to $1 billion a year of its oil wealth supporting basic research on the biology of aging and finding ways to extend the number of years people live in good health, a concept known as “health span.” The sum, if the Saudis can spend it, could make the Gulf state the largest single sponsor of researchers attempting to understand the underlying causes of aging—and how it might be slowed down with drugs.…

Greece and Saudi Arabia agreed on Tuesday on the main terms to set up a joint venture to lay a fibre optic data cable that will link Europe with Asia, Greek sources said on Tuesday.The "East to Med data Corridor", an undersea and land data cable, will be developed by MENA HUB, owned by Saudi Arabia's STC and Greek telecoms and satellite applications company TTSA.Greece's power utility Public Power Company (PPC) and Cyprus' telecoms operator CYTA, will also hold a stake in the project, pending final corporate approvals, a…

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced.Javier Blas | Bloomberg | Getty ImagesU.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced.The manufacturing facility will be able to produce 155,000 vehicles a year, and will initially serve the local market, the luxury car maker said in a press release Wednesday. The vehicles will later be exported to global markets.Lucid's factory in…

A five per cent stake of Nintendo has been purchased by Saudi Arabia’s Public Investment Fund (PIF). That’s according to a Bloomberg report from earlier today (May 18), with a spokesperson telling the publication that Nintendo learned about the investment from news reports, whilst declining further comments on its shareholders. Precisely a 5.01 per cent stake has been purchased, making it Saudi Arabia’s third investment in a Japanese games company and makes the country Nintendo’s fifth-largest shareholder. As Nintendo…

Image used for representation.Saudi Arabia's authority of civil aviation has announced its initiative to prepare a framework that would make international travelling easier.IANS Last Updated:May 11, 2022, 10:58 ISTFOLLOW US ON:Saudi Arabia’s authority of civil aviation has announced its initiative to prepare a framework that would make international travelling easier.The initiative aims to unify procedures to ease work associated with international travel through establishing one digital source that provides the latest…

Lucid Group has announced a new agreement with long-time supporter Saudi Arabia and its Ministry of Finance. Under the terms of the agreement, the Government of Saudi Arabia has committed to purchasing 50,000 EVs from Lucid Motors over the next ten years, with the option to purchase an additional 50k over that same timeframe. Lucid Motors is an American automaker whose EV production is just beginning to pick up following first deliveries of its Dream Edition Air sedan this past fall. The next trim of the Air –…