World

Saudi Arabia’s sports investments spurs explosive growth for MMA in Middle East

As Saudi Arabia continues to prioritize investments in non-oil sectors as part of its economic diversification plan, sports such as Mixed Martial Arts (MMA) will witness transformative growth and development in the Kingdom and wider Middle East, experts told Al Arabiya English.

Sports investment company SRJ Sports made headlines in August when it announced it had acquired a minority stake in the second biggest and fasting-growing MMA company, the Professional Fighters League (PFL), in its inaugural investment. At the same time, the PFL also revealed it would be launching a new league in the Middle East in 2024 to expand its regional influence.

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SRJ Sports was established by Saudi Arabia’s Public Investment Fund (PIF) to accelerate the growth of the sector in Saudi Arabia and the Middle East and North Africa. Its partnership with the PFL signals a transformative phase for MMA, both in Saudi Arabia and the broader region, Sports Executive and Analyst Alwaleed Alkeaid told Al Arabiya English.

Saudi MMA fighter Mostafa Rashed Nada wins against Korey Kuppe in the 2023 PFL Playoffs. (Supplied)

“Beyond the glitz and glamour of high stakes matches, SRJ’s overarching objective is to root MMA deeper into the fabric of Saudi Arabia and MENA’s sports culture. This might translate into initiatives that spur widespread participation in MMA,” he said.

With the Kingdom set to host the PFL PPV Super Fights as well, global eyes will “undeniably steer” towards Saudi Arabia as it positions itself as an epicenter for premier MMA showdowns, the sports executive said.

A ‘thrilling era’ for MMA in Saudi Arabia, Middle East

MMA is the fastest-growing sport and one of the most popular in the world. In Saudi Arabia and the wider Middle East, interest in the sport has grown drastically in the last five years.

“With MMA being one of the fastest growing sports globally, we have seen an exponential increase in demand and excitement within the Middle East for sports, and then even more specifically for MMA,” said Adam Laistas, PFL Executive Vice President for International Strategy and Business Operations for the MENA.

“Right now, the Middle East is probably the hottest spot in the world from a sports perspective. Everything is coming to the Middle East right now because the fans have been clamoring for it.”

Adam Laistas, PFL Executive Vice President for International Strategy and Business Operations for the MENA. (Supplied)

For the PFL, an essential part of its vision for PFL MENA is to provide MMA fans a league of their own with fighters from within the Middle East, Laistas told Al Arabiya English.

Fans from the region have gotten used to tuning in at all hours of the night to watch their favorite international fighters go head-to-head from the other side of the world. Under the new deal, SRJ and PFL will work together to develop and host the PFL PPV SUPER FIGHTS mega-events in Saudi Arabia specifically catered to fans in the region.

“We are looking to build sort of a Champions League of MMA, if you will. Our model is to provide fans within the region a league of their own and a league where they can follow the fighters, where we can build storylines, and build up champions and heroes,” Laistas explained.

“It is integral for us, through partnering with local powers, to tap into that ecosystem that exists and create world champions from that region.”

Saudi MMA fighter Mostafa Rashed Neda (L) and Saudi MMA fighter Abdullah al-Qahtani (R). (Supplied)

Dozens of MMA clubs have been established in Saudi Arabia over the years, Sports Marketing Specialist and Writer Khalid al-Rubian told Al Arabiya English; but with the monumental debut of PFL MENA, Saudi Arabia and the Middle East will enter a new domain in MMA that will see the sport become even more competitive and popular across the region, he added.

For the legions of MMA enthusiasts scattered across the Kingdom and the Middle East, the collaboration between PFL and SRJ Sports heralds a thrilling era, Sports Executive Alkeaid said.

“A prime highlight is the promise of hosting PFL PPV Super Fights right in Saudi Arabia, granting fans the luxury of witnessing MMA maestros in their element without crossing borders. The birth of PFL MENA amplifies this excitement, assuring fans that regional fighters will gain heightened visibility, possibly giving rise to local MMA icons that they can rally behind,” Alkeaid added.

“As PFL broadens its horizons, the MMA calendar is set to brim with a plethora of events, ranging from the regular season to exhilarating playoffs and championships, ensuring that fans remain hooked all year round.”

Sports Executive and Analyst Alwaleed Alkeaid. (Supplied)

A strategic move towards transformation

From football to MMA, Saudi Arabia’s investment in different sports fields is a strategic move towards the nation’s broader economic diversification goals outlined in its Vision 2030 plan.

“The fastest way for Saudi Arabia to reach its desired goals of transforming and developing is economy is through sports. Sports investments increase the potential of the Kingdom achieving its goals by ten folds,” sports marketing specialist and writer Khalid al-Rubian told Al Arabiya English.

Saudi Arabia fans display signs of love with their hands inside the stadium before a match. (File photo: Reuters)

“Sports is a language with which you can reach the furthest heights. Saudi Arabia’s sports investment strategy is a small, but essential, part of the Kingdom’s Vision 2030 goals.”

With almost 70 percent of Saudi citizens under the age of 30, the Kingdom has placed important emphasis on the need to cater to the needs and interests of its largest demographic, al-Rubian said.

Mass participation in sports by both men and women has increased from 13 percent in 2015 to close to 50 percent in 2022. Meanwhile, the number of sports federations in Saudi Arabia has increased from 32 in 2015 to over 95 in 2022, demonstrating investment potential.

Los Angeles Lakers LeBron James plays with players from a women's basketball Saudi team at a basketball clinic during a visit to Saudi Arabia. (Reuters)

According to Alkeaid, by expanding the sports market from its value of $5.75 billion (SAR 21.6 billion) in 2022 to an ambitious target of $22.2 billion (SAR 83.33 billion) by 2030, Saudi Arabia is taking active steps towards diversifying its economic avenues and reducing its dependency on oil revenues.

Its ongoing investments in different sports fields also aligns with its goal of expanding sports’ contribution to the non-oil GDP to three percent.

In addition to the direct financial impact, sports investments are expected to “create a ripple effect in terms of job opportunities,” he said.

Today, we mark a new milestone as we announce our investment agreement with the @PFLMMA. We are on an exciting journey to elevate the sport globally and bring new opportunities to Saudi Arabia and the wider MENA region.
Learn more here: https://t.co/XiATnV6WsK #SRJSports pic.twitter.com/F8SbRw9VRh

— SRJ Sports Investments (@srjsports) August 30, 2023

With a vision to provide up to 100,000 job opportunities within the sports sector, “there is clear evidence of the employment-generation potential of such investments,” Alkeaid added.

Following the PIF’s acquisition of a large percentage of four major Saudi football clubs, al-Rubian told Al Arabiya English that the greatest domestic impact the decision would have is creating massive opportunities for Saudi youth.

“There will be 30,000 to 40,000 jobs created in just the first two years, which is a great indicator of the Kingdom’s continued investment and support for the youth and their employment,” he said at the time.

By investing in other sports fields along with football, the Kingdom undoubtedly will reach its employment target, and it may even do so before 2030.

Alkeaid also said that by aiming for a 30 percent contribution from the private sector to the sports domain, the Kingdom is not only encouraging private players to join the fray but is also laying the groundwork for innovation and private-public partnerships that can further the reach and impact of sports in the country,

Lastly, from a tourism and infrastructural perspective, hosting global sports events like MMA matches will demand world-class infrastructural developments, he explained.

“This not only enhances the country’s sports infrastructure but also presents a lucrative opportunity in sports tourism, thereby giving a further boost to the Kingdom’s economy,” the sports executive said.

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Original Article

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM