MUST-READS

• Saudi FM takes part in Arab League meeting on Israel-Hamas war

  Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan took part in an extraordinary Arab League meeting on the Israel-Hamas war in Cairo on Wednesday. The meeting discussed the military escalation in Gaza and its surroundings, the worsening situation that threatens the lives of civilians and the security and stability of the region, and ways to provide protection for and aid to civilians in the Gaza Strip. During the meeting, making every possible effort to communicate with all international and regional parties to stop the escalation was discussed.

• Opinion: Israel Has Never Needed to Be Smarter Than in This Moment

  I believe one reason Hamas not only launched this assault now — but also seemingly ordered it to be as murderous as possible — was to trigger an Israeli overreaction, like an invasion of the Gaza Strip, that would lead to massive Palestinian civilian casualties and in that way force Saudi Arabia to back away from the U.S.-brokered deal now in discussion to promote normalization between Riyadh and the Jewish state. As well as to force the United Arab Emirates, Bahrain and Morocco, which were part of the Abraham Accords produced by the Trump administration, to take a step back from Israel.

• Saudi FM discusses developments in Gaza with UK, Canadian counterparts 

  Saudi Arabia’s foreign minister received on Tuesday phone calls from British and Canadian counterparts, the Saudi Press Agency said. Prince Faisal bin Farhan, James Cleverly, and Melanie Joly discussed the developments in Gaza and its surroundings, and the need to work to calm tensions and stop the escalation.

• Saudi Arabia and India solidify green energy partnership with new agreement

  The signing ceremony took place during the Middle East and North Africa Climate Week 2023, hosted by Saudi Arabia in Riyadh, in collaboration with the Secretariat of the United Nations Framework Convention on Climate Change. The MoU signifies a broad-ranging partnership between the two countries, focusing on electrical interconnection, green/clean hydrogen, and supply chains. In the realm of electrical interconnection, the agreement entails comprehensive cooperation in conducting necessary studies, facilitating electricity exchange during peak times, and addressing emergencies. Both nations commit to co-developing projects related to green/clean hydrogen and renewable energy, leveraging their unique capabilities and adhering to applicable laws and regulations.

• Saudi Arabia pours millions into digital theme park start-up

  HyperSpace creates elaborate parks that feature a mix of digital and physical entertainment including gaming, an attraction for Saudi Arabia’s relatively young and digitally savvy population. Nearly half a million enthusiasts paying $34 each have flocked to its first location in Dubai, a 40,000-square-foot park, since it opened there nine months ago. The Riyadh-based company plans to expand in Saudi Arabia and beyond to the US. “There’s a big focus on expanding the business” to the rest of the world, Heller said.

• Saudi Arabia’s unemployment rate drops further to 4.9% in second quarter

  The unemployment rate for Saudi women again fell sharply to 15.7 per cent, from 19.3 per cent a year ago, while for men it fell marginally to 4.6 per cent, from 4.7 per cent a year earlier. Compared to the first quarter, the unemployment rate for women was down from 16.1 per cent, while it remained steady for men. The increasing participation of women in Saudi Arabia's workforce is expected to boost the country’s economy by $39 billion, or 3.5 per cent, by 2032, if the current rate of growth continues, S&P Global Ratings said last week.

• Saudi Arabia’s unemployment rate drops further to 4.9% in second quarter

  Saudi Arabia's unemployment rate dropped on an annual basis in the second quarter of this year, continuing a trend of increased labour participation, especially from women, government data has shown. The overall unemployment rate, which counts Saudi citizens and expats, decreased to 4.9 per cent in the three months ended in June, from 5.8 per cent during the same period in 2022, the General Authority for Statistics (Gastat) said in its quarterly report on Thursday. That is also a drop from the 5.1 per cent rate recorded in the first quarter of 2023. For citizens, the rate stood at 8.3 per cent in the second quarter, a decrease from 9.7 per cent year-on-year.

• Saudi FM takes part in joint Gulf-British ministerial meeting

  Saudi Foreign Minister Prince Faisal bin Farhan took part in a joint Gulf-British ministerial meeting in New York on Monday, Saudi Press Agency reported. Prince Faisal was joined at the meeting by ministers of the Gulf Cooperation Council (GCC) countries, as well as the British Foreign Secretary James Cleverly on the sidelines of the 78th United Nations General Assembly.

• P&O’s CEO Martin Helweg charts Saudi Arabia’s maritime future

  The maritime sector in KSA presents a range of opportunities across the board. The integration of maritime infrastructure with energy and trade flows is a key driver. Notably, the foremost opportunity lies in Saudi Arabia's proactive commitment to nurturing a thriving maritime sector. Events like the Saudi Maritime Congress serve as vital platforms for stakeholders to collectively shape the sector's future trajectory, making alignment crucial.

• Mixed martial arts investment latest example of Saudi Arabia’s foray into global sports

  Georgetown University-Qatar visiting associate professor Danyel Reiche, an expert on sports and politics in the Middle East, said countries that try to use sports to improve their global standing can make up only so much ground. In Saudi Arabia’s case, its extensive spending is more about attracting major events to that country. The 2034 Asian Games already are scheduled to take place there.

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