MUST-READS

• Saudi Fund Set to Invest in AirAsia, Boosting Ties to Region

  Saudi Arabia’s sovereign wealth fund is poised to invest about $100 million in Malaysian carrier group AirAsia, according to people familiar with the matter, strengthening the Gulf kingdom’s ties with a region that’s a major source of tourism. Shares gained. AirAsia is seeking funds to reboot its growth ambitions after years of Covid-induced losses. The low-cost airline group is offering outside investors a stake of as much as 15% at a valuation of $2 billion, one of the people said. The timing is key as controlling shareholder Capital A Bhd nears approval to restructure ownership of the airline and merge its aviation businesses into sister firm AirAsia X Bhd.

• Analysis: PwC’s Saudi ban is a warning sign

  The Gulf is one of the few remaining growth markets for global consultancy firms, and Saudi Arabia has been a particularly lucrative destination. The kingdom’s Vision 2030 transformation has relied heavily on firms like McKinsey & Co., Boston Consulting Group, PwC, and others to design and execute economic and regulatory overhauls. Entry-level compensation is higher than London “even without adjusting for taxes,” according to The Financial Times, and the region has become a bright spot in a declining industry. PwC’s temporary ban — reportedly affecting its advisory business but without clarification on the specific type of work impacted — has not been confirmed or explained by either the firm or the sovereign wealth fund. The lack of transparency has added to the mystery surrounding the situation. The suspension has reignited debates about the dominance of foreign consultancies, with many Saudis expressing frustration over what they see as a monopoly by these firms, arguing that such dominance stifles the development of local expertise and opportunities. This sentiment underscores a broader call for economic sovereignty and the cultivation of homegrown talent.

• Turkey moves to power Saudi Arabia’s defense-driven economic transformation

  Riyadh’s bold plans to localize 50% of its defense sector by 2030 are reshaping its approach to military-industrial development. In line with this vision, leading Turkish defense companies such as Baykar, ASFAT and ASELSAN are forging co-production agreements, paving the way for intensifying technology transfer, and expanding local manufacturing capabilities within the Kingdom. Saudi Arabia’s proposed 6B USD defense agreement with Turkey is a significant step forward for this vision. The deal is expected to include a diverse range of hardware—including warships, the  battle tank Altay, a variety of unmanned aerial vehicles (UAVs) and potential collaboration on fifth-generation KAAN stealth fighters. These moves signal broader geostrategic aims beyond a shift in military procurement. In this context, the looming deal has the potential to radically transform Riyadh’s economic and industrial landscape.

• Saudi Giga Projects Report 2025: 24 Giga Projects Transforming Saudi Arabia’s Economy & Infrastructure

  The report provides an in-depth analysis of 24 transformative mega-projects driving Saudi Arabia’s Vision 2030. Covering Neom, The Line, Oxagon, King Salman International Airport, Diriyah Project, and more, this report details project progress, contractor awards, and investment opportunities. These giga-projects are reshaping Saudi infrastructure, tourism, and technology, offering lucrative business and subcontractor opportunities.

• Warburg Pincus Partners With Hassana to Chase Saudi Arabia Deals

  Warburg Pincus LLC and Saudi Arabia’s $320 billion pension fund manager will jointly explore deals in the kingdom as the global private equity firm looks to boost its presence in the Middle East. The $86 billion firm’s peers like Ardian SAS, General Atlantic and CVC Capital Partners have either opened offices for deal-making in the region or boosted headcount.  Warburg currently has exposure to the Middle Eastern market through Gradiant, a clean-tech water projects solutions provider and developer. Its previous investments in the region include BPO solutions provider Mercator, which it combined it with Accelya and exited in 2019, and payments firm Network International.

• Saudi Energy Expansion: Lithium Production in Focus

  Lithium, often dubbed “white gold,” plays a critical role in the manufacture of electric vehicles (EVs), energy storage systems, and renewable energy infrastructure. Aramco, in collaboration with Ma’aden, aims to extract lithium from high-concentration deposits and introduce cost-effective direct lithium extraction (DLE) technologies. With concentrations exceeding 400 parts per million identified in existing operations, Aramco is leveraging its decades of subsurface geological data and advanced digital tools to establish a robust lithium supply chain. This initiative builds on Aramco’s strengths as one of the world’s leading integrated energy companies, while Ma’aden contributes deep mining expertise. Their partnership is a testament to Saudi Arabia’s focus on industrial diversification and leadership in the energy transition minerals market.

• New project focuses on restoring degraded lands in Saudi Arabia

  The National Center for Vegetation Cover Development and Combating Desertification has launched a project to study and assess degraded sites in Saudi Arabia’s western and southern regions.  Using advanced technology, the project will develop rehabilitation plans aligned with global standards as part of a broader national strategy, the Saudi Press Agency reported recently.  It focuses on identifying degraded areas and analyzing direct and indirect causes in Makkah, Madinah, Baha, Asir, Jazan, and Najran.

• Saudi Arabia’s General Entertainment Authority Chief Forges ‘Landmark’ Boxing Promotion Partnership With TKO and Saudi’s Sela

  Turki Alalshikh, the chairman of Saudi Arabia‘s General Entertainment Authority, has forged a multi-year boxing promotion partnership with U.S. sports and entertainment conglomerate TKO and Saudi sports marketing company Sela in what is being touted as a landmark deal. He is the mastermind behind the “Day of Reckoning” boxing matches held in Riyadh involving huge names such as Anthony Joshua and Deontay Wilder. Over the past few years Alalshikh has been behind Saudi Arabia’s large investments in many other sports as well, including soccer, golf, Formula 1 and, most recently, tennis.

• TKO Launches Boxing Promotion Partnership With Saudi Arabia’s Turki Alalshikh, Sela Group

  UFC and WWE parent TKO Group has, as promised, jumped into boxing, inking a partnership with Saudi Arabia. The deal with His Excellency Turki Alalshikh, chairman of the Saudi General Entertainment Authority, and Sela, the Saudi national entertainment and events conglomerate, will establish a new boxing promotion that will provide a platform for leading boxers and prospects in the sport. TKO will serve as managing partner, providing day-to-day operational expertise, management and oversight of the promotion, with executive leadership anchored by UFC CEO Dana White and WWE president and TKO board member Nick Khan. TKO CEO Mark Shapiro called the agreement “a strategic opportunity to reimagine the sport of boxing globally.” He had teased a deal as imminent on an earnings call last week. “TKO has the deep expertise, promotional prowess, and longstanding relationships. HE Turki Alalshikh and Sela share our passion and vision for evolving the current model. Together, we can bring the sweet science back to its rightful place in the forefront of the global sports ecosystem.”

• MBS confirms Saudi Arabia’s support for resolutions adopted by Arab League summit on Gaza

  Saudi Arabia’s Crown Prince Mohammed bin Salman emphasized the Kingdom’s full support for the resolutions adopted by the extraordinary Arab League summit on Gaza. The meeting – held in Egypt’s Cairo – saw leaders from the Arab region come together to counter US President Donald Trump’s “Middle East Riveria” vision, which seeks to displace Palestinians in the territory from their homes. The Cabinet also stressed the Palestinian people’s right to self-determination and to attain their legitimate rights, including the establishment of an independent state along the 1967 borders, with east Jerusalem as its capital, according to SPA.

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