MUST-READS

• Saudi real GDP grows 4.4% in Q4, highest in two years

  Saudi Arabia’s real GDP grew by 4.4% y-o-y in Q4 2024, the highest growth rate in two years, driven by a 4.6% rise in non-oil GDP, while oil GDP also increased by 3.4%, according to estimates by GSTAT. Saudi Arabia recorded SAR57.7 billion ($15.38 billion) budget deficit in Q4 2024, widening from SAR30.2 billion ($8.05 billion) in Q3. Total government revenues fell 15.4% y-o-y to SAR302.9 billion, while expenditure declined 8.7% y-o-y to SAR360.5 billion, noted an Al Rajhi Capital research report. Non-oil exports rose 18.1% y-o-y in December, compared to 20.4% y-o-y growth in November. The increase was led by Chemical Products (+13.8% y-o-y).

• Saudi Arabia denounces Israel’s blocking of aid into Gaza; calling it ‘blackmail and collective punishment’

  Saudi Arabia condemned on Sunday the decision of the Israeli occupation government to block the entry of humanitarian aid into the Gaza Strip. In a statement, the Ministry of Foreign Affairs expressed Saudi Arabia's condemnation and denunciation of the decision of the Israeli government to stop the entry of humanitarian aid into the Gaza Strip, and its use as a tool of blackmail and collective punishment. The ministry stated that it is a flagrant violation of international law and a direct violation of the rules of international humanitarian law, in light of the humanitarian catastrophe that the Palestinian people are facing. Saudi Arabia reiterated its call to the international community to stop these serious Israeli violations, in addition to activating international accountability mechanisms, and ensuring sustainable access to aid.

• Saudi Arabia to partner with US company to manufacture and export “flying taxis”

  The American Doroni Aerospace company announced that it has decided, in partnership with Saudi entities, to manufacture H1-X ‘flying car.’ Designed for personal use, the HX-1 is a two-seater aircraft that can be parked in a two-car garage, charged at home, and can take off vertically from a driveway. Doroni Aerospace, a company based in Pompano Beach in Florida, said it has secured a $30 million strategic investment from Innovation Wings Industries (IWI), operating as Kingdom Aero Industries (KAI) in Saudi Arabia.

• Saudi Tadawul profit surges 60% on higher trading value

  Saudi Tadawul Group, the owner and operator of the kingdom’s stock exchange, reported a 59 percent jump in 2024 profit, as annual trading value and listing services revenues rose by 38 percent and 27 percent, respectively. Net profit was SAR622 million ($166 million) compared to SAR390 million in 2023, the company said in a bourse filing on Sunday. The average daily traded value reached SAR7.5 billion last year and 58 new securities were listed, taking the total to 353, the company said. The Saudi’s bourse capitalisation reached $10 trillion in 2024, the company said. Operating revenue rose 35 percent year on year to SAR1.5 billion in 2024, driven by increased trading services and post-trade services revenues.

• Saudi dissidents welcome to return to Kingdom: Head of state security

  Saudi dissidents who have been exploited by external entities to attack Saudi Arabia are welcome to return to the Kingdom, the Head of the Presidency of State Security Abdulaziz al-Howairini said. Speaking on MBC’s Hikayat Waad program, al-Howairini said that dissidents are welcome to return without facing any consequences if their opposition remained at the level of ideological influence and they were not implicated in criminal cases within the country. Saudi Arabia will not expose or publicize their names, he said, adding that the Kingdom focuses on rehabilitation rather than punishment. Dissidents wishing to return to Saudi Arabia can contact the designated number (990) to provide their identity and location for assistance, al-Howairini said. Alternatively, they can also delegate a family member to coordinate with the relevant authorities.

• Commentary: Saudi Arabia’s rise signals decline of Europe’s geopolitical centrality This article was published in thejakartapost.com with the title “”. Click to read: https://www.thejakartapost.com/opinion/2025/03/03/saudi-arabias-rise-signals-decline-of-europes-geopolitical-centrality

  It signals a shift away from Europe’s centrality in diplomacy and fits well with Trump’s broader policy of bilateral, pragmatic diplomacy that prioritizes economic and geopolitical gains. The US-Russia discussions in Saudi Arabia also indicate Trump’s strategic use of Saudi Arabia to secure swift diplomatic wins, furthering his domestic and international standing. Trump’s choice of Riyadh for the Ukraine peace talks also shows that Saudi Arabia has strategically positioned itself as a neutral intermediary, leveraging its strong relations with global powers including the US, Russia, China and European nations.

• NEOM: Understanding Saudi Arabia’s Visionary Project

  The NEOM Project, announced in 2017, occupies a strategic vantage point along the Red Sea. The word “NEOM” is derived from the Greek term “Neo” (new) and the Arabic word “Mostaqbal” (future), meaning a “New Future”. NEOM encompasses tourist destinations, industrial zones, data and research centers, such as The Line (a linear smart city), Oxagon (a floating industrial city), and Trojena (a sustainable mountain tourism destination). NEOM, situated strategically in Saudi Arabia’s Tabuk province, is within a six-hour flight of 40 percent of the world’s population. It presents investment opportunities across 15 sectors, creating scope for substantial job creation and attracting new residents.

• Ramadan In Saudi Arabia: These Are The Key Timings To Know About

  As the Holy Month inches closer, the Arab world is preparing to celebrate time with family, connection and devotion. As called by tradition, Ramadan’s start is determined by the sighting of the crescent moon, which, according to Saudi Arabia’s Supreme Court, has called Muslims to observe on the evening of Friday, February 28, 2025. This corresponds to the 29th of Sha’ban 1446 AH in the Hijri calendar, marking the point for when Ramadan will begin. Additionally, if the moon is spotted after the Maghrib prayer, Ramadan will begin on March 1, 2025. Otherwise, it will start the day after. Along with fasting from dawn to sunset, key timings for prayers, Iftar and Suhoor will shape daily routines throughout the month.

• Saudi Arabia says Israel seeking to ‘destabilize’ Syria with airstrikes

  Saudi Arabia condemned on Thursday recent Israeli strikes targeting Syria, accusing it of attempting to destabilize the situation in the country. The Kingdom’s foreign ministry issued a statement on X saying that Israel was attempting “to destabilize [Syria’s] security and stability in repeated violations to the international agreements and laws.” Israel on Tuesday struck southern Damascus and in southern Syria near the Jordan border, the latest in a series of Israeli attacks on what it says are Syrian military targets. Israel moved forces into a UN-monitored demilitarized zone within Syria after opposition groups toppled former President Bashar al-Assad in December.

• Saudi Arabia opens first phase of Sports Boulevard

  Saudi Arabia has opened the first phase of Sports Boulevard, marking a major milestone in Riyadh’s transformation into a global athletics and lifestyle destination.  The project, led by the Sports Boulevard Foundation, is now 40 percent complete, with 83 km of the route set to be accessible to visitors starting Feb. 27, according to the Saudi Press Agency.  Chaired by Crown Prince Mohammed bin Salman, the board of directors of the SBF announced the launch of the phase, which includes five key destinations: Wadi Hanifah, the Promenade, a section at the intersection of Prince Mohammed bin Salman bin Abdulaziz Rd. and Prince Turki bin Abdulaziz Al-Awwal Rd., as well as the Princess Nourah bint Abdulrahman University internal loop, and the first phase of Sands Sports Park.

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