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  • KSRelief Spearheads Saudi aid to Gaza and the Globe
     

    King Salman Humanitarian Aid and Relief Centre (KSRelief) provides humanitarian aid and relief to people outside of Saudi Arabia’s borders. KSRelief was established by King Salman bin Abdulaziz in 2015 and works in 46 countries, with a focus on the Middle East and North Africa region.

     
  • Biden’s Oil Boom
     

    Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.

     
  • PIF Increases Investment in Lucid
     

    Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.

     
  • Saudi Arabia to join Miss Universe for the first time
     

    27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.

     
  • Hyundai and Red Sea Global Agree to Test EVs and Air Mobility Systems
     

    Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.

     
  • Saudi Film Commission Reports Impressive 2023 Growth Statistics
     

    Published in Screen Daily, the Saudi Film Commission reported on topline 2023 metrics for Saudi Arabia’s growing film industry. With more than 50% of the Saudi population under 25, there is a significant appetite for cinema, particularly for US action films, Egyptian comedies, and Saudi narratives.

     
  • FIFA Series 2024 Friendly Matches Kick Off in Jeddah
     

    The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]

     
  • NYT Reports on Proposed $40B Saudi AI Investment
     

    The New York Times’ Maureen Farrell and Rob Copeland report that Saudi Arabia is working with Wall Street banks to establish a $40 billion AI-focused investment fund.

     
  • U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
     

    U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”

     
  • OPEC and IEA Agree on Something
     

    The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA), two of the leading global energy forecasters, have long disagreed on demand growth.  They agree on this however.

     

MUST-READS

  • Hyatt expands its footprint in Saudi Arabia with two new signings

    Hyatt has signed management agreements with Knowledge Economic City (KEC) for two new Hyatt-branded hotels in Saudi Arabia, Hyatt House Madinah KEC and Hyatt Centric Madinah KEC. Scheduled to debut in the eagerly awaited Knowledge Economic City in Madinah, these properties will contribute 576 keys to Hyatt’s portfolio in Saudi Arabia.

  • Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

    Riyadh Air, which is owned by the Public Investment Fund, concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation as part of the national carrier’s efforts to shape the future of tourism in the Kingdom and advance air travel. The new partnership, which was signed at Arabian Travel Market (ATM) in Dubai, focuses on several key areas, including new routes and destinations, joint marketing activities, sponsorship opportunities, presence at key roadshows and international events and accessibility to tourism-related platforms. It also aims to explore collaboration in loyalty programs, leverage world-leading technology and new digital methods and engage in the Tourism Accelerator Program.

  • Saudi Arabia announces stringent penalties for unauthorised Hajj pilgrims

    Saudi Arabia has announced stringent penalties against individuals attempting to perform the annual Islamic Hajj pilgrimage without an official permit. The Ministry of Interior said that enforcement would begin next month, targeting those violating Hajj rules in Mecca, the Central Area, and sacred places from June 2 to June 20.

  • When is Eid al-Adha? And when will Hajj 2024 begin? All you need to know

    The Muslim world is gearing to celebrate Eid al-Adha this year on or around Sunday June 16, according to various astronomical calculations. The date, however, can change depending on the beginning of the Dhu al-Hijjah month. It is expected that Saudi Arabia will call on Muslims in the Kingdom to sight the crescent moon on June 6.

  • Expat remittances surge in Saudi Arabia, hit two-year high

    Monthly remittances of expatriates in Saudi Arabia reached SR11.9 billion in March, marking their highest in nearly two years, according to official figures. The remittances in March increased by 4 per cent against the same month last year, figures from the Saudi Central Bank showed.

  • Saudi Arabia AI development head reveals they will divest from China if US steps up and asks them to

    Amit Midha, CEO of Alat, Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology, stated that the country would divest from China if requested by the US. Alat is an investment firm backed by $100 billion in capital from the Public Investment Fund. Midha emphasized that while current requests focus on maintaining separate manufacturing and supply chains, Saudi Arabia would comply with US concerns and divest if partnerships with China posed issues.

  • Alipay+ expands to Saudi Arabia. Good news for luxury?

    Chinese fintech giant Ant Group is aggressively expanding abroad, with its eyes now on Saudi Arabia. Singapore-based Ant International, which extends the group’s innovative fintech solutions to global markets, has signed a Memorandum of Understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA) to facilitate business growth in the kingdom.

  • Saudi Arabia readies six airports to receive Hajj 2024 pilgrims

    Saudi civil aviation authorities said they have designated six main airports for receiving Muslims, who will attend next month’s annual Hajj pilgrimage. They are King Abdulaziz International Airport in the Red Sea city of Jeddah; Prince Mohammed bin Abdulaziz Airport in Medina; Taif International Airport in the western city of Taif; King Khaled International Airport in Riyadh; Prince Abdulmohsen International Airport in the coastal city of Yanbu; and King Fahd International Airport in the western city of Dammam.

  • Saudi Aramco maintains $31 billion dividend despite lower Q1 net income

    Saudi Arabia's state oil giant Aramco (2222.SE), opens new tab expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold. The Saudi government, which directly holds about 82.2% of Aramco, relies heavily on the company's payouts, which also include royalties and taxes. The kingdom, the world's biggest oil exporter, is spending billions of dollars to diversify its economy away from crude.

  • Exclusive: Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say

    Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of the discussions said, and a deal could be worth up to $1 billion. Shell said Malaysia is important to the company. "We remain committed to the mobility business in the country," it said in an updated statement on Tuesday, without elaborating.