MUST-READS

• Saudi Arabia arrests over 16,000 residency, work, and border security violators

  Joint field campaigns to follow up and arrest violators of residency, work, and border security regulations, which took place in all regions of Saudi Arabia from June 27 to July 3, 2024, revealed a total of 16,565 violators. This included 9,969 violators of the residency system, 4,676 violators of the border security system, and 1,920 violators of the labor system.

• Saudi Arabia’s e-commerce records grow by 17.47% in Q2 2024, driven by Riyadh’s leading issuance

  The issuance of existing commercial records for e-commerce recorded a growth of 17.47% by the end of the second quarter of 2024, with 40,697 records issued compared to 34,645 in the same period of 2023, according to the Business Sector Bulletin issued by the Ministry of Commerce for Q2 2024. Riyadh City topped the regions in Saudi Arabia for issuing e-commerce records, with 16,535 commercial records. Makkah followed with 10,325 records, the Eastern Province with 6,525, Madinah with 1,938, and Al-Qassim with 1,326.

• Saudi Aramco Jackup Suspensions And The Story So Far

  Saudi Aramco’s ambitious post-Covid jackup fleet expansion programme, in which the operator looked to increase its fleet size from approximately 49 jackups in June 2022 to 90 in just two years, seemed a daring feat. But fast forward to March 2024 and the Saudi Arabian National Oil Company (NOC) almost met its target having 89 jackups at work.

• Saudi Arabia set to participate in 2024 UN High-Level Political Forum on Sustainable Development

  The Saudi delegation, headed by His Excellency Minister of Economy and Planning Faisal F. Alibrahim, will include representatives from 13 entities from the government. The delegation includes the Ministry of Economy and Planning, Ministry of Energy, Ministry of Foreign Affairs, Ministry of Environment, Water and Agriculture, Ministry of Human Resources and Social Development, National Center for Vegetation Coverage and Combatting Desertification, National Center for Environmental Compliance, General Food Security Authority (GFSA), Royal Commission for Riyadh City, Royal Commission for Al-Ula, Al Madinah Region Development Authority, Quality of Life Program, and Qassim Urban Observatory.

• Saudi Couple Stuns With Epic Formula 1 Inspired Wedding Entrance

  “We both love doing things differently,” said 32-year-old Abdulaziz to Arab News. “The whole experience was iconic and incredibly special. We’re so grateful for making our night as memorable as our relationship,” added 26-year-old Amirah.

• Saudi Arabia keen to get more women in the workforce

  Tourism and hospitality in Saudi Arabia are experiencing a remarkable transformation driven by the increased participation of women, thanks to inspirational leaders and strong government action. This shift is significant considering that tourism is one of the few global industries where women already constitute the majority of the workforce. Saudi Arabia is keen to get more women in the workforce, and the Kingdom has already surpassed its Vision 2030 ambition of achieving 30 percent female participation in the labor market.

• Did a deal between Saudi Arabia and US to sell oil in dollars expire?

  A claim emerged in Chinese-language social media posts in June that Saudi Arabia terminated a 50-year formal agreement with the United States to conduct oil transactions in U.S. dollars, under a deal called the “petrodollar agreement.” But the claims are false. No known formal deal stipulating that Saudi Arabia must sell oil in U.S. dollars exists. While not formally bound by agreement, Saudi Arabia has in practice conducted all its oil deals over the past several decades entirely in U.S. dollars.

• Saudi sports ministry offers six pro clubs to domestic and foreign private investors

  Al Okhdood, Al Orouba and Al Kholoud, will all play in the 18-team Pro League next season, while the Saudi sports ministry said that Al Zulfi, Al Nahda and Al Ansar were selected for the next round of privatisation based on their “operational readiness, financial health, administrative capabilities, and athletic facilities”. They would also step into the top tier.

• Ensuring Clean Water Amidst Saudi Arabia’s Development Surge

  According to Turner & Townsend’s International Construction Market Survey (ICMS) 2024, increasing demand, especially in Saudi Arabia (KSA), is driving up construction expenses. Riyadh, the capital of Saudi Arabia, has become the priciest city in the region for construction, with costs soaring to $2,593 per square meter due to rapid growth.

• Saudi Arabia announces privatization of 14 sports teams

  The Ministry of Sport announced on Wednesday that 14 teams from various divisions will be privatized as part of the second phase of the second track in the Sports Clubs Investment and Privatization Project. In this phase, sports clubs at various levels will be made available for privatization to both domestic and foreign investors. The first batch of clubs includes six clubs (Al-Zulfi, Al-Nahda, Al-Okhdood, Al-Ansar, Al-Orouba, and Al-Kholood). Investors can visit the NCP website to apply and get the required information if they want to invest in the clubs included in the first batch starting from August 2024. Al-Shoulla, Hajar, Al-Najma, Al-Riyadh, Al-Rawda, Jeddah, Al-Taraji, and Al-Sahel are the next eight clubs whose offerings will be completed sequentially later.

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