MUST-READS

• Federation of Saudi Chambers Revives Saudi-Canadian Business Council

  The Federation of Saudi Chambers has announced the revival of the Saudi-Canadian Business Council with its final formation for the term 1445–1449 AH. Mohammed bin Nasser Al-Duleim has been named chairman of the council, with Abdullah bin Salem Al-Yami and Abdullah bin Ahmed Al-Ahmed serving as deputy chairmen.

• June this year hotter than 2023 after extreme heat and rain in Saudi Arabia, India

  Last month was the hottest June on record across the globe, the EU's climate monitor said on Monday, capping half a year of wild and destructive weather from floods to heatwaves. Every month since June 2023 has eclipsed its own temperature record in a 13-month streak of unprecedented global heat, the Copernicus Climate Change Service (C3S) said.

• Impact of healthcare investments on Saudi Arabia’s economy

  A country's economic performance is inextricably linked to its population's well-being, since a healthier population results in a more efficient workforce. Recognising this vital relationship, Saudi Arabia has prioritised healthcare reform as part of its ambitious Vision 2030.

• Yemen’s Houthis threaten Saudi Arabia with aerial footage of key airports

  The media of the military wing of Yemen’s Houthi rebels published a video on Sunday showing aerial drone footage and coordinates of important and prominent airports and ports in Saudi Arabia. The video, titled "Just try it", contained images of King Khalid International Airport in Riyadh, King Abdulaziz International Airport in Jeddah, King Fahd International Airport in Damman as well as the ports in Ras Tanura, Jizan and Jeddah.

• Saudi Arabia eyes digital banks, 24 IPOs in 2024: FSDP

  The Financial Sector Development Program (FSDP) announced in its annual report for 2023 the plans of Saudi Arabia’s financial institutions for 2024, including the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA).

• Saudi coffee or Arab coffee: A storm in a coffee cup

  The Consumer Protection Association in Saudi Arabia issued a decision last week which defined referring to Saudi coffee with the name “Arabic coffee” as a “violation” of the law. In the same context The Saudi Ministry of Commerce and Federation of Saudi Chambers also issued calls to all restaurants, cafes and patents in the kingdom to adopt the name “Saudi coffee” instead of “Arabic coffee” while describing the popular hot drink.

• Rare clash in Najaf puts Sistani, Saudi outreach in focus

  On the face of it, the dispute revolves around remarks made by Muneer Al-Khabbaz a decade ago—ostensibly so upsetting now to Sadr that he has suggested that the Saudi scholar should leave Iraq. Amid speculations about the underlying motives, two theories stand out. On the one hand, given Khabbaz’s close association with Grand Ayatollah Ali Al-Sistani—the supreme religious authority in Najaf—some link the clash to the looming leadership succession at the city’s seminary. Others highlight contention over Saudi Arabia’s recent outreach to Iraq’s Shiites.

• Is Saudi Arabia Set On Becoming A Global Gas Leader?

  Saudi Arabia may be the third largest producer of crude oil in the world, after the U.S. and Russia, but its gas output has struggled over the years to make much of a mark in the global market. Currently, it produces around 4.2 trillion cubic feet (Tcf) a year – making it the ninth biggest producer in the world – but this goes to meeting domestic consumption needs. Associated (with oil drilling) gas accounts for around half of the Kingdom’s present production, although the non-associated percentage has more than doubled since 2012. However, last week saw twin announcements that might begin to change that, in line with Saudi Arabia’s target of becoming a major gas exporter by 2030 as part of its ‘Vision 2030’ plan.

• Saudi Oil Market Share in China Set for Rebound

  Saudi crude oil exports to China have been on the decline for four consecutive months, the report noted, adding some traders expected this to change in August, with imports from the kingdom rising for the first time since May. In July, Saudi oil exports to China totaled 36 million barrels, which comes in at a little over 1 million bpd, Reuters also reported, citing shipping data from Kpler. For August, however, some traders expect a total of at least 44 million barrels, Reuters said.

• Saudi Team ‘Falcons’ Achieves First Title in Esports World Cup

  The Saudi Team 'Falcons' won the first title during the Esports World Cup, the most prestigious gaming event globally. In the popular game "Call of Duty: Warzone," the Falcons emerged as champions, earning 1,000 points and securing the top position in the Esports World Cup rankings. The grand final took place at the SEF Arena in Riyadh, with an enthusiastic crowd in attendance. The Falcons delivered an outstanding performance, accumulating 227.9 points to claim the championship title. The Fnatic team secured second place with 217.9 points, while the team of Twisted Minds achieved third place with 179.3 points.

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