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World Bank: Saudi Arabia Ranks Among Top 10 Global AI Investors

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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World Bank: Saudi Arabia Ranks Among Top 10 Global AI Investors

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The World Bank has highlighted the role of the Kingdom of Saudi Arabia, represented by the Saudi Data and Artificial Intelligence Authority (SDAIA), in building an integrated data ecosystem and supporting data integration across government entities in the Kingdom.

The report reviewed Saudi Arabia’s experience in data and artificial intelligence, highlighting it as a model for building digital infrastructure for data and AI, the Saudi Press Agency reported on Wednesday.

This was stated in the World Development Report 2026, released by the World Bank Group, titled The Promise of Artificial Intelligence.

The report noted that SDAIA enables data integration across more than 60 government entities while keeping data within their own systems, placing the Saudi experience among the models that support organized and secure data sharing across government entities.

The report also examined the Kingdom’s position in the global AI landscape, placing Saudi Arabia among the top 10 countries worldwide for private investment in artificial intelligence.

It also highlighted the Kingdom’s ability to attract specialized talent. These achievements reflect a comprehensive national strategy, aligned with Saudi Vision 2030, to build a data-driven, computing-enabled, and innovation-focused economy.

In terms of AI talent, the report indicated that in 2025, Saudi Arabia ranked among the economies with the highest net inflows of AI professionals per 10,000 LinkedIn members.

The Kingdom recorded a net inflow of 3.08 AI professionals per 10,000 LinkedIn members, underscoring the attractiveness of Saudi Arabia’s technology ecosystem to highly skilled talent.

The report's publication coincides with the designation of 2026 as the “Year of Artificial Intelligence” in the Kingdom, reflecting Saudi Arabia’s continued commitment to advancing data and AI technologies and leveraging them to support development, innovation, and competitiveness, in line with the objectives of Saudi Vision 2030.

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Business

Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)
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Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)

Euro zone bond yields fell for a second straight day on Tuesday, hitting their lowest in almost two weeks after Iran raised the prospect of reopening the Strait of Hormuz and Washington hinted it could restart talks with Tehran, pushing oil prices lower.

Germany's 10-year bond yield, the benchmark for the bloc, fell 1 basis point to 3.44% after rising as much as 4 bps earlier in the session. It fell 7 bps on Monday as energy prices retreated.

A senior Iranian official told Reuters that the strait, which carried about a fifth of global energy supplies before the war, could reopen within seven days if the US also lifts its blockade of Iranian ports.

The official added that Iran's delegation to a UN meeting in New York this week has full authority to revive diplomacy over the conflict.

US Secretary of State Marco Rubio told NBC's "Today" show that Washington was open to speaking with Tehran.

The dip in energy prices helped pull yields lower globally after a surge in recent weeks fuelled by expectations of further interest-rate hikes to combat energy-driven inflation. Traders are pricing in around 35 bps of additional European Central Bank tightening this year, down from 40 bps on Friday.

Germany's two-year bond yield, which is sensitive to interest-rate expectations, fell 1 bp to 3.19%, following a 6-bp drop on Monday.

Rabobank senior rates strategist Lyn Graham-Taylor said lower oil prices following the Iranian comments were weighing on bond yields.

Brent crude futures were last down 1% to $100 a barrel after earlier falling to $97.40, the lowest in two weeks.

Business

Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)
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Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)

Libya's National Oil Corporation said on Tuesday that the Sharara-Zawiya crude loading pipeline closure has led to daily losses of about 130,000 barrels per day, Reuters reported.

An armed military group closed valve seven on the Sharara crude pipeline to Zawiya port on Monday, resulting in a significant decline in production at the Sharara oilfield, the National Oil Corporation said in a statement.

 

 

 

 

Business

Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, three sources briefed on the matter said.

Drone attacks forced Saudi Arabia to shut its East-West Pipeline on September 13, halting crude loadings at the kingdom's Yanbu port.

The resumption of supplies on Tuesday helped to drive selling on global oil markets, traders said. Brent crude futures fell by more than $2 a barrel to its lowest since September 8.

Two trading sources said traders were getting ready for Saudi oil loadings by moving tankers to Egypt's Mediterranean Port Said for ship-to-ship transfers and also to Sidi Kerir.