MUST-READS

• Saudi cement industry hope to see upturn, as real estate booms

  Output from Saudi producers declined 20 percent to 3.6 million tons in July, compared to 4.6 million tons in the same month last year, according to recent data issued by Yamama Cement Co. Sales of 15 cement producers declined led by Southern Cement down 35 percent as compared to the same month of the previous year followed by Umm Al-Qura Cement and Al-Safwa Cement falling 34 percent and 32 percent respectively.

• Startup Hub Riyadh creates new generation of Saudi innovators

  “The Riyadh center specializes in the Internet of Things (IoT) and cybersecurity, and the Khobar center focuses on artificial intelligence and data analytics. We have a track for traditional businesses to adopt new technology, and we have another track for innovative startups.”

• Saudi Arabia a haven for FDI during the COVID-19 crisis

  But preliminary data released by the Saudi Central Bank showed a net growth in FDI for the first quarter of 2021 by 11.3 percent, reaching SR20.67 billion ($5.5 billion) compared to the same period in 2020. Likewise, improvement in the Kingdom’s investment climate resulted in the increase of foreign investment flow to SR2 trillion at year end 2020.

  • Arab News - Positive outlook for Saudi Arabia as virus numbers decline
• How Saudi Arabia’s new design vernacular will define hospitality in the Kingdom

  Saudi Arabia has embraced this need for a local vernacular in defining a ‘Salmani’ style of architecture which was championed by King Salman when governor of Riyadh. The style balances Saudi Arabia’s ingrained national culture with its bold future ambitions. Actualised in Riyadh and elsewhere, the style harmonises heritage with technology. Striking examples of Salmani architecture can be found in Riyadh’s Diplomatic Quarter and in the development of Diriyah in the west of Riyadh.

• Saudi Arabia’s Red Sea International Airport to open by end-2022

  Saudi Arabia’s ambitious Red Sea project will get its new airport as scheduled in 2022, according to the mega project’s developer The Red Sea Company (TRSDC). TRSDC tweeted on Wednesday that the international airport will be ready to welcome tourists by the end of 2022.

• Saudi proptech Mabaat raises $2.4 million in Seed round

  Saudi-based Mabaat, an innovative tech operator platform focused on disrupting the short-term rental market, has successfully secured $2.4 million in recent fundraising. The Seed round was led by Derayah Ventures with participation from SEEDRA Ventures. Founded in October 2019 by Talal Al Sorayai, Mabaat’s unique digital platform onboards properties and manages them on behalf of their owners, with offerings ranging from mid to high-end private homes and compounds distributed across key markets in the Kingdom. Based on our free H1 2021 Saudi Venture Capital Report, brought to you in collaboration with SVC, both Derayah and SEEDRA Ventures ranked amongst the top investors in Saudi Arabia in the first half of the year; with the first closing 5+ investments and the latter closing between 2 and 4.

  • Arab News - Startups: Tech and consumer focus is a winning formula
• Pompeo prioritized Saudi relationship, oil after Jamal Khashoggi death

  When Saudi-American journalist Jamal Khashoggi was tortured and killed at the Saudi embassy in Turkey, former U.S. Secretary of State Mike Pompeo prioritized the relationship with the world's top oil exporter. Pompeo, speaking to a group of Kansas petroleum producers on Monday, recalled the "kerfuffle" over the "horrific" killing. "I personally, I was pilloried for having continued to build that relationship with Crown Prince Mohammed bin Salman," Pompeo said. "But we knew that the Kingdom of Saudi Arabia mattered an awful lot to the United States of America.

• Blinken speaks to Saudi FM over Afghanistan situation

  US Secretary of State Antony Blinken on Wednesday (local time) spoke to Saudi Foreign Minister Faisal bin Farhan Al Saud over Afghanistan's situation as the country has been taken over by the Taliban.

  • The National - Saudi and US officials discuss situation in Afghanistan
  • State.gov - Secretary Blinken’s Call with Saudi Foreign Minister Faisal bin Farhan Al Saud
• Taliban’s rise pressures Iran and Saudi Arabia to bury the hatchet

  After years of feuding, Iran and Saudi Arabia are ramping up efforts to bridge their longtime hostilities as the Taliban's takeover in Afghanistan threatens to spread chaos beyond Central Asia and destabilize the Middle East as well. As Middle East power brokers, Iran and Saudi Arabia see the Taliban as a shared threat. With the U.S. also planning to withdraw troops from Iraq, the countries could seek even deeper cooperation to fill the power vacuum left in the region.

  • Axios - Gulf states wary Afghanistan crisis could trigger refugee flows, terror threats
• Kingdom of Saudi Arabia Amongst the First to Accept IATA Travel Pass

  IATA and KSA are working comprehensively to restore international travel conveniently and safely. Saudi Arabian Airlines has been a trial partner in the development of the IATA Travel Pass. And work is progressing with GACA and Tawakkalna for IATA Travel Pass to be a vehicle for pre-arrival clearance for KSA. IATA Travel Pass will simplify and enhance compliance with health requirements for travellers entering the Kingdom and contribute to the safe restart of the travel and tourism industry, which is an important contributor to the Kingdom’s economy.

  • Simple Flying - Saudi Arabia Set To Accept IATA Travel Pass For All Passengers
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