MUST-READS

• Saudi Arabia, Yemen agree to establish 3 firms

  The Saudi-Yemeni Business Council at the Federation of Saudi Chambers announced the launch of six initiatives to boost trade and investment exchanges between the two countries and support economic development efforts in Yemen. Three Saudi-Yemeni companies were agreed upon, according to Abdullah bin Mahfouz, Head of the Saudi-Yemeni Business Council. The first, with a capital of $100 million, will focus on renewable energy, producing electricity through solar power to supply Yemen. The second will provide communications via the Starlink satellite network, while the third will organize exhibitions and conferences in Yemen to promote Saudi products and support reconstruction efforts.

• Camels, kabsa, and kindness: a British influencer’s unexpected adventure in Saudi Arabia

  The response from Moores’ followers to his Saudi adventure has been “overwhelmingly positive,” he said. “Initially, I wasn’t sure how they would react, especially as I was venturing to a place I had never visited before. However, everyone embraced the journey and truly loved the experience.” Despite initial apprehension, Moores found reassurance through Visit Saudi, which provided him with resources and connections across the country. “I felt completely reassured about my safety.”

• Saudi Arabia’s bond maturities to surge to $168bn, outpacing GCC peers by 2029

  Saudi Arabia is poised to account for the largest share of bond maturities in the Gulf Cooperation Council region from 2025 to 2029, with a projected total of $168 billion, according to a recent analysis by Kamco Invest. The Kuwait-based financial firm’s report highlights that most of these maturities will come from bonds and sukuk issued by the Saudi government, which is expected to reach $110.2 billion over the five-year period. This comes after Saudi Arabia’s Capital Market Authority approved its most significant regulatory overhaul in November, aimed at revamping the sukuk and debt instrument market.

• 20,159 illegal residents arrested in a week

  A total of 20,159 illegal residents have been arrested from various regions of Saudi Arabia during the last week. The arrests were made during the joint field security campaigns that were carried out by the security forces in collaboration with the relevant government agencies during the period between Dec. 12 and Dec. 18, according to the Ministry of Interior. Those who were arrested included 11,302 violators of the Residency Law, 5,652 violators of the Border Security Law, and 3,205 violators of the Labor Law. The total number of people who were arrested while trying to cross the border into the Kingdom accounted for 1,861, of whom 33 percent were Yemeni nationals, 65 percent Ethiopian nationals, and two percent belonged to other nationalities. A total of 112 people were arrested while attempting to leave the Kingdom illegally.

• The standout Saudis lighting up 2024-25 RSL

  For all the excitement and attention that the international stars of the Roshn Saudi League receive, the bedrock of the competition remains the nurturing and development of local Saudi talent. Whether old or young, the RSL provides Saudi players with the best platform to develop and showcase their ability, and already this season we’ve seen a number of standouts across the competition. As the 2024-25 RSL is on a hiatus for its winter break, we name a few that have had particularly stellar seasons thus far.

• Saudi Arabia’s diversified support for a two-state solution

  The Saudis have taken an important step by establishing and leading a global alliance devoted to implementing the two-state solution. What Saudi Arabia has done is create a new focal point and generate momentum upon which other states can gradually build. Notably, the alliance held its first meeting in Riyadh, lending a great deal of symbolic authority to this push for peace. With that said, the world has been here before. There have been peace initiatives and “pushes” toward resolution before, but none has reached the desired end goal. While there are many reasons for this, one is a lack of sustained effort to maintain the momentum moving in the direction of a two-state solution. This then raises the question of how a coalition supporting the establishment a two-state solution or any other peace process can be sustained — what is missing? One element that may be absent is diversification within the processes leading to the two-state solution.

• Alat, a Company Created by the Public Investment Fund of Saudi Arabia, Has Become a Strategic Corporate Partner of EvoNexus

  EvoNexus is California’s premier non-profit technology incubator with locations in San Diego and Irvine. Alat, a PIF company, will create a global sustainable technology manufacturing hub in Saudi Arabia focused on advanced industrials and electronics. Alat will focus on seven key Strategic Business Units: advanced industrials, semiconductors, smart health, smart appliances, smart devices, smart buildings, as well as next generation infrastructure and create products both for Saudi Arabia and the world. In December, EvoNexus and Alat entered into a strategic corporate partnership.

• Oil Updates — crude retreats on demand concerns after Fed signals slower easing ahead

  Oil prices fell in Asian trade on Thursday after the US Federal Reserve signaled it would slow the pace of interest rate cuts in 2025, which could slow economic growth and reduce fuel demand. Brent futures fell 47 cents, or 0.6 percent, to $72.92 a barrel by 8:15 a.m. Saudi Time. US West Texas Intermediate crude fell 39 cents, or 0.6 percent, to $70.19. The declines reversed most of the benchmark contracts’ gains from Wednesday when prices settled higher as US crude stocks fell and the US Federal Reserve cut interest rates by 25 basis points as expected. Prices weakened after US central bankers issued projections calling for two quarter-point interest rate cuts in 2025 on concerns about rising inflation. That was half a point less than they had anticipated as of September.

• Saudi commission registers 13,040 new sites of historical importance

  Saudi Arabia’s Heritage Commission has registered 13,040 new urban sites, increasing the total number of documented sites with cultural and historical importance to 17,495 in various regions. The commission’s National Urban Heritage Register includes a list of urban sites that manifest a “lasting testament to the kingdom’s historical narratives for future generations,” the Saudi Press Agency reported. According to SPA, the most recent registered sites are 1,950 in Riyadh, 3,273 in Madinah, 1,531 in Al-Baha, 1,525 in Hail, 1,400 in Qassim, 972 in Aseer, 571 in Makkah, 363 in Al-Jouf, 351 in Jazan, 200 in Najran, 107 in Tabuk, 35 in the Northern Borders, and 762 in the Eastern Region.

• Saudi Arabia and ICR Sign Historic MoU at COP16 Riyadh – Framework for Nature Based Solutions

  In a collaboration aimed at advancing global climate solutions, the National Center for Vegetation Cover Development and Combating Desertification (NCVC) and the International Carbon Registry (ICR) entered a Memorandum of Understanding (MoU) during the COP16 to the UN Convention to Combat Desertification in Riyadh. This MoU signifies a major step forward in leveraging Nature-Based Solutions (NBS) to address climate challenges and foster sustainable development in the Kingdom of Saudi Arabia.

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