MUST-READS

• Rubio heads to Saudi Arabia for US-Ukraine talks, then Canada for G7

  U.S. Secretary of State Marco Rubio will arrive in Jeddah, Saudi Arabia, on Monday for U.S.-Ukraine talks as President Donald Trump pushes to broker a swift end to the Russia-Ukraine war, despite Russia’s latest massive aerial attacks against Ukraine’s energy infrastructure. While in Jeddah, Rubio will also meet with Saudi Crown Prince Mohammed bin Salman Al Saud to discuss ways to advance shared interests in the region and strengthen the U.S.-Saudi relationship, said State Department spokesperson Tammy Bruce. According to the State Department, Rubio has “underscored President Trump's determination to end the war as soon as possible and emphasized that all sides must take steps to secure a sustainable peace” in a Friday call with Ukrainian Foreign Minister Andrii Sybiha.

• What Went Wrong at Saudi Arabia’s Futuristic Metropolis in the Desert

  The October event was the lavish opening of the first part of Neom, a planned metropolis defined by cutting-edge technology and psychedelic architecture, a cornerstone of the country’s plan to pivot its economy away from oil. The relatively simple, low-rise development, known as Sindalah, was over three years late and on track to cost nearly $4 billion, three times its initial budget. Hotels were unfinished, high winds disrupted ferries and golf, and much of the site was still under construction. Saudi Crown Prince Mohammed bin Salman, Neom’s mastermind, was a surprise no-show. Neom board documents say the party cost at least $45 million. Many Neom staff viewed his absence as a sign of disapproval. Weeks later, Neom’s boss of six years, a former crown prince favorite, left the project and a new crew of executives was installed to turn Neom around.  After spending more than $50 billion, the crown prince’s sci-fi-inspired dreams—an arid-mountain ski resort, a floating business district, and the Line, the 106-mile-long pair of Empire State Building-height skyscrapers that is Neom’s centerpiece—have collided with reality.

• Saudi riyal symbol: strategic step toward global financial standing

  Saudi Arabia’s unveiling of a new symbol for the riyal has been dubbed a “visionary maneuver” that will enhance the currency’s global recognition, strengthen investor confidence, and signal a commitment to financial modernization, Arab News has been told. As the Kingdom seeks to position itself as a global financial hub, this new symbol, inspired by Arabic calligraphy, reflects a seamless blend of tradition and progress — key to the nation’s ongoing economic reform efforts, according to experts.

• Saudi Arabia arrests 20,749 for residency and labour violations, deports over 10,000 in a week
  A total of 20,749 people were arrested in Saudi Arabia during a nationwide inspection campaign targeting violations of residency, labour, and border security laws, the Ministry of Interior announced. The crackdown, conducted between February 27 and March 5, aimed to strengthen regulatory enforcement across the Kingdom.  Authorities recorded 13,871 violations related to residency, 3,517 involving border security, and 3,361 concerning labor regulations.

• Saudi Aramco cuts crude oil prices for Asia

  Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+ to gradually increase oil supply starting this month. According to an official statement, the official selling price for the benchmark Arab Light crude has been reduced by 40 cents, now standing at $3.50 per barrel above the average price of Oman and Dubai crude.

• 2nd ‘Building Bridges Between Islamic Schools of Thought’ conference concludes in Makkah

  The second “Building Bridges Between Islamic Schools of Thought” international conference concluded in Makkah early on Saturday, with participants from more than 90 countries adopting the “Encyclopedia of Islamic Intellectual Harmony.” Held under the patronage of King Salman bin Abdulaziz, the two-day conference gathered senior muftis, scholars, and thinkers who also approved the strategic and executive plan for the document “Building Bridges between Islamic Sects,” a media statement said on Saturday.

• Saudi Arabia’s Strategy Attracts Around 600 Regional Headquarters of Multinational Corporations

  Around 600 foreign companies have established their regional headquarters in Saudi Arabia since the 2021 launch of the Saudi Program for Attracting Regional Headquarters (RHQ) of multinational corporations to the Kingdom of Saudi Arabia's capital, spearheaded by the Ministry of Investment and the Royal Commission for Riyadh City. As part of the Vision 2030 economic diversification plan aimed at establishing Saudi Arabia as a prominent global business hub, the RHQ program offers a range of incentives to international companies. These include a 30-year tax relief package, announced in December 2023, which provides zero percent corporate income tax and withholding tax for qualifying regional headquarters. Additionally, the program streamlines the process of setting up operations in any region in the Kingdom, providing comprehensive support services to assist companies in their transition. Saudi Arabia's modern infrastructure, including advanced facilities and technology, is also a key attraction for international firms. The program further supports expatriate employees by facilitating access to international K-12 schools, with seven new schools having been established in the Kingdom.

• What can Ukraine expect from talks with US in Saudi Arabia?

  Ukrainian President Volodymyr Zelenskyy is to visit Saudi Arabia next week for a planned meeting there between delegates from Ukraine and the US. If all goes according to plan, it will be the first Ukraine-US meeting since the presidents of the two countries quarreled in the White House on February 28. At those talks, US President Donald Trump and Vice President JD Vance accused Zelenskyy of being ungrateful for the US aid given to Ukraine and of being unwilling to end the war in his country. After the Oval Office catastrophe, Zelenskyy cut his US trip short and left Washington. No new meeting between Zelenskyy and Trump is to be held in Riyadh.  Now, ahead of his planned visit to Saudi Arabia, he has announced on the messaging app Telegram that he is planning a meeting with the de facto Saudi ruler, Crown Prince Mohammed bin Salman, adding: "Ukraine is most interested in peace. As we told President Trump, Ukraine is working and will work exclusively constructively for a quick and reliable peace."

• Saudi Arabia spends $724 million to implement 1,072 projects to empower women in 79 countries

  Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Center (KSrelief), has implemented as many as 1,072 projects dedicated for the most needy women in 79 countries around the world. Implementation of these projects, which are valued at nearly $724 million, coincide with International Women's Day, which falls on March 8 each year. The projects implemented by KSrelief included provision of assistance to Yemeni women and empowering them economically, building their capacities by providing training programs in the professional and commercial fields, and providing them with the necessary tools that help them find income-generating opportunities that contribute to improving the livelihoods of the beneficiaries and their families.

• Saudi MoH warns against fake sick leaves, imposes jail, SAR 100,000 fine

  The Ministry of Health (MoH) warned against engaging with social media accounts that promote fraudulent sick leaves, emphasizing that such practices are criminal offenses subject to legal penalties. This warning is part of the ministry’s regulatory efforts to enhance the digital healthcare system and ensure compliance with regulations. According to the Saudi Press Agency (SPA), the ministry stated today, March 9, that penalties apply to anyone issuing false or misleading medical reports. Punishments include up to one year in prison and a fine of up to SAR 100,000.

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