’Grand Theft Auto V’ hits streets in brash debut

Updated 17 September 2013
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’Grand Theft Auto V’ hits streets in brash debut

Unabashedly brutal “Grand Theft Auto V” hit the streets Tuesday in a sequel that promises to enthrall fans of the blockbuster video game franchise.
Rockstar Games spent five years crafting the title and the time has paid off for gamers, according to a slew of reviews giving it top marks.
“GTA V has been worth the five-year wait,” said computerandvideogames.com digital manager John Houlihan.
“You can really see the maturity in this version, the graphics look sensational — it really is like being in a virtual copy of LA.” GTA V is set in a fictional city of Los Santos based on real-world Los Angeles and its nearby hills and beaches.
The videogame franchise has won legions of fans and cadres of critics with game play in which triumph depends on acts such as carjacking, gambling and killing.
“GTA is essentially the ‘Sopranos’ of videogames,” Tech Savvy analyst Scott Steinberg said, making a reference to a hugely popular US cable television series centered on Mafia characters.
“Everyone talks about the series as violent, but compared to what you are seeing in the movies and on television GTA is relatively tame. Certainly, it is a mature game for mature audiences .” GTA V is billed by the New York City-based video game publisher as the “largest and most ambitious” title in a franchise that has sold more than 114 million copies since its debut in 1997.
“Grand Theft Auto V builds on everything we’ve learned about open world gaming,” said Rockstar founder Sam Houser.
Versions of “GTA V” for play on Xbox 360 or PlayStation 3 video game consoles or personal computers powered by Windows software launched worldwide Tuesday in respective time zones.
Midnight release events were planned at shops in an array of countries to let GTA lovers snap up the game the instant Tuesday arrives.
EB Games held a midnight launch party in Sydney’s World Square, featuring DJs and free burritos.
Torrential rain put a dampener on the night but didn’t stop GTA zealots.
“If a storm stops you from getting your hands on gta you ain’t a die-hard fan,” Ryan Nero said in a message fired off at Twitter.
“I just rode through a hardcore thunderstorm to get my copy.” GTA V was released in 320 stores across the country Australia.
“There has been a huge buzz about the game,” Rashaan Walker said as the clock ticked down on a midnight launch event at the San Francisco area Best Buy shop where he is a sales supervisor.
“We’ve had tons of people asking about it.” Walker, a 26-year-old GTA fan, had in mind to stick around after the end of his shift to pick up a copy of the game.
“It’s exciting,” Walker said. “In this one you can go online and bring together a clique of friends and go terrorizing and do whatever you want.” He was also keen to see how the overarching storyline of the series progresses. In a new approach used in GTA 5, gamers take on the roles of three different main characters whose paths eventually merge.
“This really is a blockbuster that almost dwarfs the movies in some way,” Houlihan said. “GTA V is really a cultural phenomenon.” Houlihan said it was rumored that the production budget for the game was in the vicinity of $270 million.
The franchise’s appeal is fueled by captivating story lines and an open-world format that lets players go wherever they wish in game worlds.
“You can rob banks or you can do a yoga lesson or you can fly a plane or you can play tennis or you can do what I sometimes do, which is just wander round the world in a really flashy car and listen to some of the hilarious radio stations — so there really is everything for you to explore, it’s a world of possibility,” Houlihan said.
The game will also let people play with or against one another online.
Rockstar, which is owned by Take-Two Interactive, said that GTA V “focuses on the pursuit of the almighty dollar” in a re-imagined Southern California.
Grand Theft Auto IV blew away video game and Hollywood records by raking in an unprecedented $500 million in the week after its release in 2008.
“GTA is the 10-ton gorilla of video game franchises,” Steinberg said. “Obviously, this is going to help kick-start the holiday season for the videogame industry, which has taken a beating.” While console video games have faced mounting pressure from free-to-play titles tailored for smartphones or tablets, there is “still room for blockbuster Hollywood-style games,” according to the analyst.


‘Songs of Silence in Nature’: Chinese artist Shu Li honored in Riyadh 

Updated 27 sec ago
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‘Songs of Silence in Nature’: Chinese artist Shu Li honored in Riyadh 

  • Artist’s work depicts serene scenes of mountains and lakes
  • Exhibition showcases cultural ties between China and Saudi Arabia

RIYADH: Saudi Arabia’s Art Pure Gallery Foundation is currently hosting an exhibition, “Songs of Silence in Nature,” by the renowned Chinese artist Shu Li.

Organized in collaboration with the Chinese Embassy in Saudi Arabia, the exhibition opened on June 24, 2024 and will run until July 25, 2025 in the Saudi capital. 

A leading figure in contemporary Chinese art, Shu Li has held distinguished roles within China’s national cultural institutions.

His works have been showcased in more than 20 countries, including the Leonardo da Vinci Museum in Italy. 

He has received numerous international accolades in countries such as Russia, Belgium, the US, Ukraine and India, and is a distinguished academician of the Russian Academy of Arts. 

His paintings are featured in some of China’s most iconic venues, including the National Art Museum of China, the Great Hall of the People, and the headquarters of the Chinese Communist Party.

He has also published more than 20 catalogues chronicling his artistic evolution. 

Shu Li’s work blends traditional Chinese techniques with a distinctly contemporary sensibility.

Characterized by tranquil landscapes, his pieces often depict mist-shrouded mountains and serene lakes. These works invite viewers to enter a meditative and reflective state. 

“Art is not merely a visual encounter,” the artist explained, “but an emotional journey.

“Through my oil paintings, I aim to capture those fleeting moments of beauty that enrich our daily existence.

“My work is a dialogue between the canvas and the world it portrays — a world where light dances across surfaces and color speaks more powerfully than words.

“Each painting is an exploration of texture, form and the expressive potential of oil as a medium. I draw inspiration from nature, human experience and the myriad ways in which art connects us to both. I invite viewers to do more than just observe my work; I want them to feel it and enter the narrative that each painting weaves.”  

This exhibition is part of an increasing cultural dialogue between China and Saudi Arabia. It reflects the desire of both countries to strengthen their artistic exchange and deepen the ties between these two ancient and influential civilizations. 

Contemporary Chinese art embodies a rich synthesis of millennia-old traditions and modern perspectives.

Since the late-20th century, Chinese artists have experimented with various forms, including painting, sculpture, installation and video, to explore the tensions between heritage, rapid urbanization and evolving social realities.  

Often merging classical craftsmanship with avant-garde techniques, they explore themes of identity, collective memory and the challenges of the present age. 

Today, China’s vibrant art scene is widely recognized internationally, with many leading Chinese artists playing a pivotal role in reshaping the global contemporary art landscape. 

The Art Pure Gallery Foundation is a leading Saudi cultural institution founded in 1999.


Pakistan PM, Azerbaijan president vow to boost trade and investment on ECO summit sidelines

Updated 8 min 28 sec ago
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Pakistan PM, Azerbaijan president vow to boost trade and investment on ECO summit sidelines

  • The summit brought together heads of government from ECO member states to discuss economic and political cooperation
  • Pakistan, bolstered by an IMF program, is looking to capitalize on its geostrategic location as a major trade and transit hub

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Friday met with Azerbaijan President Ilham Aliyev on the sidelines of the 17th Economic Cooperation Organization (ECO) summit, Sharif’s office said, with the two leaders agreeing to boost bilateral trade and investment.

The prime minister led Pakistan’s delegation at the ECO summit in Khankendi, Azerbaijan on July 3-4, which focused on the promotion of trade, sustaining development and enhancing regional connectivity.

Sharif noted that recent interactions between leaders of the two countries had helped strengthen relations and invited President Ilham to visit Pakistan at his earliest convenience, according to the Pakistan PM’s office.

“The two leaders agreed to enhance their cooperation in the fields of trade and investment while expressing satisfaction over the progress made regarding the investment prospects,” Sharif’s office said.

“Both leaders reiterated their resolve to strengthen the economic partnership, especially Azerbaijan’s investment in Pakistan.”

This is Sharif’s third visit to Azerbaijan in 2025. He last traveled to Baku in May as part of a broader push at economic diplomacy with the Central Asian republics, to whom Pakistan has offered access to its southern ports in Karachi and Gwadar.

The ECO summit, themed as “New ECO Vision for a Sustainable and Climate Resilient Future,” brought together heads of state and government from ECO member states to discuss economic and political cooperation.

Founded in 1985 by Iran, Pakistan and Turkiye, the Eurasian intergovernmental organization included Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan in 1992, aiming to establish a single market for goods and services.

Pakistan, slowly recovering from a macroeconomic crisis under a $7 billion International Monetary Fund (IMF) deal, has been looking to capitalize on its geostrategic location to boost transit trade and foreign investment for a sustainable economic recovery.

In July 2024, Azerbaijan announced a $2 billion investment in Pakistan during a visit by President Ilham Aliyev to Islamabad. In September last year, Pakistan signed a contract to supply JF-17 Block III fighter jets to Azerbaijan, marking the deepening of defense cooperation.


At least five dead in Pakistan building collapse: police

Updated 15 min 58 sec ago
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At least five dead in Pakistan building collapse: police

  • Up to 100 people had been living in the building
  • Roof and building collapses are common across Pakistan

KARACHI: A five-story building collapse in Pakistan on Friday killed at least five people and left six injured, with more victims trapped under the rubble, police said.

Rescuers and residents in the mega port city of Karachi worked together to pull people from the debris after the incident at around 10:10 a.m. (0510 GMT).

“We have so far retrieved five dead bodies and six injured people,” a senior local police official, Arif Aziz, said.

Up to 100 people had been living in the building, he added.

Saad Edhi, of the Edhi welfare foundation that is leading the rescue operation, said there could be “at least eight to 10 more people still trapped,” describing it as a “worn out building.”

He put the death toll at four.

Roof and building collapses are common across Pakistan, mainly because of poor safety standards and shoddy construction materials in the South Asian country of more than 240 million people.

But Karachi, home to more than 20 million, is especially notorious for poor construction, illegal extensions, aging infrastructure, overcrowding, and lax enforcement of building regulations.


Inside the Saudi 100 Brands showcase in Paris 

Updated 35 min 19 sec ago
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Inside the Saudi 100 Brands showcase in Paris 

  • A closer look at the 11 Saudi designers who exhibited during Paris Fashion Week last month

PARIS: During Paris Men’s Fashion Week last month, the Saudi 100 Brands showcase by Tranoï took over the fifth floor of the LVMH-owned La Samaritaine department store in the French capital. Eleven Saudi designers showcased their creativity in an initiative from the Saudi Fashion Commission. 

The top floor of the iconic address, with its historic peacock-mosaic frieze, Gustav Eiffel wrought-ironwork, and spectacular glass ceiling provided the perfect setting for the originality and exuberance of the young designers presenting their craftsmanship and heritage.  

Visitors at the Saudi 100 Brands showcase in Paris. (Supplied)

Burak Cakmak, CEO of the Fashion Commission of Saudi Arabia, said: “Saudi Arabia is a fantastic hub of talent and expertise. This showroom at La Samaritaine represents a major opportunity for Saudi designers to showcase their collections during Paris Fashion Week. It is also a powerful way to strengthen ties between the Saudi Fashion Commission and international fashion players, including Tranoï.”  

Here, we run down the 11 brands on show. 

1886 

Saudi streetwear brand 1886 on display in Paris. (Supplied)

Launched in 2016, 1886 was Saudi’s first premium streetwear brand. Renowned for its quality denim, the brand launched T-shirts this year featuring Jeddah, Al Ula and Abha to celebrate its Saudi heritage. Co-founder Fahad Aljomiah has a “Designed in KSA” sign on his office wall as a daily inspiration for his team. “We have the talent, knowledge, taste and willingness to work hard to set the industry standard, to put KSA definitely on the international fashion map,” he told Arab News.  

REBIRTH 

Tala Abukhaled launched her eco-friendly luxury resortwear label three years ago, to breathe new life into Saudi artistic craftsmanship and cultural traditions. “My clients tend to be people who love to travel, they’re adventurous, free-spirited and eco-conscious,” she said. One of Abukhaled’s recurring motifs is the integration of raffia made from palm fronds, and woven into macramé detailing. Her palette for her latest collection — Resort 25 — is neutral sand, with hot pink, tangerine orange and olive green. 

AWAKEN 

“Our slogan is ‘Open your eyes.’ We want to encourage people to wake up to their life, not to live in a virtual world,” said Khalid Almasoud, founder of the Riyadh-based streetwear brand. The brand’s logo is jaquard woven or serigraphed onto many of their pieces.  

WAAD ALOQAILI COUTURE 

Each intricate creation of this label — founded in 2019 by sisters Waad and Ahlam Aloqaili —  is strongly rooted in Saudi tradition, crafted with emotional elegance and cultural depth, with the goal of empowering women. Aloqaili’s hand-beaded teal and emerald mermaid gown with short train stole the show. 

ELEVEN 

Fusing innovation with comfort, the collection from this Riyadh-based label — bold, distinctive and contemporary —was entirely produced in Saudi, reflecting a strong local identity ready to be exported to the wider world. 

HAJRUSS 

Hajruss is a contemporary streetwear label fusing innovation and craftsmanship in its creations. The brand combines modernity and tradition, with particular attention to detail and high-end materials. “Each collection is a dialogue between heritage and innovation — where clothing becomes a medium for storytelling,” the catalogue for the showcase stated. 

MIRAI 

Mirai co-founders Abdulrahman Tarabeh (L) and Omar Shabra. (Supplied)

Mirai means ‘future’ in Japanese. The label fuses Saudi culture, style and energy with Japanese minimalism and attention to detail. “We chose the name Mirai because we believe that timelessness is the future,” said co-founder Abdulrahman Tarabeh. “We don’t follow trends, we don’t follow any fashion calendar; whatever we enjoy making, we make. With Omar (Shabra, his co-founder), we want to create a community where people can tell their personal stories through their clothes.’ Tarabeh pointed out a white jacket with tiny brown dots, “This is one of our signature designs. We sourced the fabric from Tuscany, Italy, and it’s coffee-washed,” he said. “The buttons are engraved with Sakura, Japanese cherry blossom.”  

RAZAN ALAZZOUNI 

With a background in sculpture and fine arts from Tufts University, Razan Alazzouni is known for “blending art, femininity, and craftsmanship” in her designs, which are “sculptural, delicate, and timeless” and “celebrate soft glamour and Saudi heritage through refined, handcrafted pieces made in her Riyadh atelier,” according to the catalogue.  

RBA 

Founded in 2017 in New York City, this “cross-cultural Saudi fashion brand” merges bold design, premium quality, and urban aesthetics to create unique streetwear pieces. “Each design is more than clothing — it’s a story woven with symbolism, culture, and modern elegance,” the catalogue stated. “RBA creates pieces that celebrate diversity, sustainability, and artistic expression.” 

REEM ALKANHAL 

Designer Reem Alkanhal in front of her eponymous label's collection. (Supplied)

This label designs clothing for women who like to express their femininity with simple elegance. The Sword collection, created for the show, “reflects this vision — merging traditional symbolism with modern sophistication for the confident, contemporary woman,” according to the catalogue. 

YASMINA Q 

Yasmina Q is a comtemporary womenwear label that seeks to create positive change through working mindfully with local communities, with a focus on knitwear. “We’re very focused on sustainably. I’m based in Saudi, we source our yarn from Italy and produce in London. Each piece we produce has zero waste,” said founder Yasmina Qanzal.  


Saudi Arabia posts 4 years of VC growth despite global slowdown: report 

Updated 39 min 54 sec ago
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Saudi Arabia posts 4 years of VC growth despite global slowdown: report 

RIYADH: Saudi Arabia achieved four consecutive years of growth in venture capital relative to its economy, a feat unmatched among its peers, according to a new report.

Between 2020 and 2023, the Kingdom was the only large market in the sample to post uninterrupted annual gains in VC intensity, contrasting with the more episodic deal flow seen across Africa and parts of Southeast Asia, MAGNiTT’s recently published Macro Meets VC report stated. 

While 2024 saw a slight contraction in funding amid global tightening, Saudi Arabia’s multi-year upward trend signals a sustained commitment to innovation-led diversification.

The Kingdom is steadily consolidating its position as a model for policy-driven venture capital development in emerging markets as it seeks to diversify its economy in line with the Vision 2030 blueprint. 

“Saudi Arabia is becoming the model for long-term, policy-driven ecosystem building,” the report notes, highlighting that sovereign limited partners and local funds have been instrumental in buffering the Kingdom from some of the volatility that struck other emerging venture markets. 

Saudi Arabia’s policy momentum 

The MAGNiTT data revealed that Saudi Arabia recorded a five-year average VC-to-GDP ratio of 0.07 percent. 

Although this figure remains modest compared to more mature hubs like Singapore, its consistent upward movement underscores the growing depth of domestic capital formation. 

Beyond the headline ratios, the Kingdom’s strategic positioning has also come into sharper focus. Saudi Arabia, along with the UAE, is classified as a “Growth Market”— a designation that reflects not only a sizeable GDP and population but also the rising economic clout of local consumer and enterprise demand. 

With a GDP approaching $950 billion and a population exceeding 33 million, Saudi Arabia presents a significant scale advantage. 

According to MAGNiTT’s benchmarking, this size creates “natural expansion targets for startups moving beyond initial launch markets,” supporting both regional and international founders seeking to diversify beyond smaller ecosystems. 

MENA’s uneven progress 

Across the broader Middle East and North Africa region, venture capital activity has continued to evolve unevenly. 

The UAE has retained its reputation as a strategic innovation hub and one of the few “MEGA Markets” in the emerging world, boasting a five-year average VC-to-GDP ratio of 0.20 percent. 

This proportion — identical to Indonesia’s ratio — signifies robust venture activity relative to the economy’s size. 

Yet, while the UAE maintained this level, Saudi Arabia has seen more consistent growth in funding, a dynamic the report attributes to policy-led market development. 

In Egypt, VC has gained further traction over the period under review. Egypt achieved a 25 percent rise in total funding compared to the previous five-year average, lifting its VC-GDP ratio by 0.02 percentage points to 0.11 percent. 

Although Egypt’s overall economic constraints remain acute — GDP per capita still lags below $10,000 — the relative progress suggests improving investor confidence, particularly in fintech and e-commerce. 

However, the report cautions that deal flow in Egypt, much like in Nigeria, remains fragile and prone to episodic swings driven by a handful of large transactions. 

The macroeconomic context across MENA has also been influential. Elevated oil price volatility and the impact of the Israel–Iran conflict have created a challenging backdrop for policymakers. 

Brent crude surged more than 13 percent in a single day earlier in 2025, underscoring the region’s exposure to external shocks. 

Nevertheless, both Saudi Arabia and the UAE managed to maintain monetary policy stability in line with the US Federal Reserve’s cautious stance. 

Saudi Arabia kept its benchmark rate at 5.5 percent, supported by inflation trending around 2 percent, while the UAE held steady at 4.4 percent. 

These decisions reflected a delicate balance between containing price pressures and supporting economic diversification efforts. 

Overall, MENA’s five-year aggregate venture funding reached $12.52 billion. Although this total remains well below the levels seen in more mature regions, it represents a meaningful share of emerging markets capital. 

MENA also posted the highest deal count relative to its peers in Southeast Asia and Africa over the period, indicating a broader base of early-stage transactions even as late-stage funding remains more limited. 

The report emphasizes that expanding geographic and sectoral reach within MENA will be critical to boosting efficiency metrics. 

“VC remains heavily concentrated in a few sectors and cities,” the report observes, warning that without broader inclusion, capital intensity will struggle to match potential. 

Southeast Asia’s VC benchmark 

Beyond MENA, Southeast Asia’s ecosystem stands out as the most mature among emerging venture markets, driven primarily by Singapore’s exceptional performance. 

Over the 2020–2024 period, Singapore achieved a 5-year average VC-to-GDP ratio of 1.3 percent, surpassing not only all emerging markets but also developed economies such as the US, which registered 0.79 percent, and the UK, with 0.73 percent. 

Even with a 5.4 percent decline in total funding compared to the prior five years and a 0.19 percentage point drop in VC-GDP ratio, Singapore maintained unmatched capital efficiency. 

The report describes the city-state as “a benchmark for capital efficiency in venture ecosystems,” attributing this strength to strong regulatory frameworks, institutional capital participation, and a deep bench of experienced founders and investors. 

Indonesia, Southeast Asia’s largest economy, recorded total VC funding volumes nearly twice as large as Singapore’s over five years, but its relative VC-GDP ratio remained lower at 0.2 percent. 

This dynamic illustrates one of the report’s core findings: venture capital inflows correlate more strongly with GDP per capita than total GDP. 

In Indonesia’s case, while its GDP surpassed $1.2 trillion, GDP per capita hovered around $4,000, constraining purchasing power and, by extension, startup revenue potential. 

Thailand, meanwhile, reported funding gains due mainly to a single mega deal rather than systematic improvements in ecosystem depth. 

In Africa, Nigeria emerged as an unexpected bright spot in 2024, as a single major transaction lifted its VC-GDP ratio to 0.15 percent — the highest in the region for that year. 

However, this outlier result also revealed the episodic nature of capital deployment in developing markets. 

Kenya registered a relatively high five-year VC-GDP ratio of 0.3 percent, even as absolute funding volumes remained modest. 

The report notes that in low-GDP contexts, this ratio can overstate ecosystem maturity. 

South Africa and Egypt showed more modest growth trajectories, weighed down by persistent inflation, structural constraints, and capital scarcity. 

In aggregate, African economies continued to lag both Southeast Asia and MENA in total venture funding and deal velocity. 

Global challenges ahead 

Globally, the five years covered by the report were marked by intensifying volatility. 

High interest rates, trade tensions, and geopolitical uncertainty weighed on capital flows. 

The US Federal Reserve held its policy rate between 4.25 percent and 4.5 percent through mid-2025, citing “meaningful” inflation risks. 

The European Central Bank moved to lower its deposit rate to 2 percent, reflecting cooling inflation but acknowledging sluggish growth. 

The World Bank cut its global GDP forecast for 2025 to 2.3 percent, the weakest pace since the 2008 crisis, excluding recessions. 

These headwinds contributed to the decline in venture capital across most emerging markets in 2024. 

In response, sovereign capital and strategic investors have become increasingly important backstops. 

The report highlights that domestic capital formation in MENA has partially offset declining global risk appetite. 

However, these funds tend to be slower moving, more sector-concentrated, and less risk-tolerant than international investors. 

“Without renewed foreign inflows or regional exit pathways, deal velocity may remain muted into the second half of 2025,” the report warns. 

This environment is likely to force startups to extend runway and compel general partners to adopt more selective deployment strategies. 

Despite the challenges, the outlook for Saudi Arabia and other growth markets remains constructive over the medium term. 

The Kingdom’s policy clarity, deepening institutional capital pools, and Vision 2030 commitments create a foundation for continued expansion. 

As the report concludes: “High GDP markets like KSA and Indonesia trail in VC efficiency — suggesting capital underutilization.” 

Closing this gap between potential and realized funding will be the defining challenge for emerging ecosystems as they navigate a turbulent global landscape.