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  • IMF concludes annual consultation with Saudi Arabia
     

    Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030. The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.

     
  • Saudi non-oil economy continues growth
     

    Jadwa Investments’ August 2024 macroeconomic update showed robust growth in non-oil activity.

     
  • Saudi Professional League Season starts; summer transfer window subdued
     

    The SUSTG Review wrote in July that Saudi Arabia’s professional football transfer strategy has evolved. After numerous blockbuster acquisitions in 2023, the current transfer window (though not over) has been subdued. 

     
  • KSA and it’s summer power surge challenge
     

    In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water. 

     
  • Halo Space Preparing For Saudi Arabian Stratospheric Test Flight
     

    Spanish company HALO Space is developing a new form of space travel called stratospheric ballooning. This involves using a large helium-filled balloon to carry a pressurized capsule carrying passengers up to the stratosphere, which is about 35 kilometers 922 miles) above the Earth’s surface.

     
  • Chinese Language Instruction in KSA
    • August 6,2024
    • •
     

    During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.

     
  • FIFA World Cup 2034 to feature 11 new stadiums (out of 15)
     

    The Fédération Internationale de Football Association (FIFA) has unveiled details of Saudi Arabia’s bid to host the largest-ever edition of the FIFA World Cup held in a single country. The official bid, under the slogan “Growing. Together”, outlines Saudi Arabia’s extensive plans and infrastructure projects.

     
  • U.S. Exports to the Arab World Jump By 12% to $65.3 Billion
     

    The National U.S.–Arab Chamber of Commerce (NUSACC) reported that, according to data released last month by the U.S. Census Bureau, U.S. goods exports to the Arab world jumped 12 percent to $65.3 billion in 2023.

     
  • With transfer season underway Saudi Professional League evolves strategy
     

    The SPL has shifted from last year’s extensive talent acquisition—where 97 players were signed—to a more strategic approach this season. The Saudi transfer window opened on July 18 and will close on September 2, aligning with European leagues. This change indicates a focus on filling specific gaps and enhancing overall team quality rather than a […]

     
  • Dollar-priced oil ending? What’s the story?
     

    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.”

     

MUST-READS

  • Caves in Saudi Arabia’s northern region are windows to history, gates to adventure

    At least 542 caves and sinkholes discovered in Saudi Arabia’s Northern Borders region offer more destinations for the increasing number of tourists, adventurers and researchers interested in these structures, the Saudi Press Agency reported on Sunday. Of varying shapes, these structures offer a glimpse into the past with their unique geological formations, said the report, quoting Burjas Al-Falih, a speleologist and a member of the Afaq Society for Astronomy.

  • Battling Japan down Saudi Arabia to stay perfect in World Cup qualifying

    Japan handed Saudi Arabia a 2-0 defeat in Jeddah on Thursday as Hajime Moriyasu's side continued their march towards the World Cup with a third consecutive win in Asian qualifying that moves the Samurai Blue five points clear at the top of Group C. Daichi Kamada's close range finish put the Japanese in front in the 14th minute of a physical first half and substitute Koki Ogawa headed in Junya Ito's corner nine minutes from time to secure the points.

  • Countdown to Middle East war? How the region can step back from the brink

    With Israel poised to attack Iran, having already blindsided friends and foes alike with its blitz against Lebanon's Hezbollah movement, all the talk is of an inexorable slide towards a new, pan-Middle Eastern war. Yet brakes remain to halt a regional fall into a wider conflagration that would lock Israel and Tehran into escalating conflict and suck in other nations, according to several people with experience in intelligence and military decision-making.

  • Saudi FDI Struggles Cast Shadow Over Crown Prince’s Plans

    Inflows amounted to $9.7 billion in the first six months of 2024, according to data released Monday by the Saudi General Authority for Statistics. That’s just a touch higher than the prior year, when Saudi Arabia had its worst first-half haul since 2020. Still, FDI picked up 14.5% in the second quarter from the first, to $5.2 billion.

  • Robot Dogs, UGVs and Apaches Downing Drones with Hellfires at the US-Saudi Counter-UAS Exercise

    This year’s iteration of the Red Sands exercise between the U.S. and KSA (Kingdom of Saudi Arabia), in the CENTCOM (Central Command) area of responsibility, saw the participation of robot dogs, AH-64 Apache helicopters firing Hellfire missiles to shoot down drones, UGV (Unmanned Ground Vehicles) and a quadcopter for tactical resupply. The exercise, which focuses on counter-UAS (Unmanned Aerial Systems) defense, was held earlier this month and also saw the participation of the U.S. Army’s DEVCOM-AC (Development Command-Armaments Center), which arranged the presence of some new advanced systems.

  • Saudi Arabia arrests over 22,000 in week of nationwide security raids, crackdowns

    Those arrested were apprehended for a variety of alleged violations of the Saudi legal system, including 14,216 for violating the Residency Law, 4,943 for breaching the Border Security Law and 3,214 for infringement upon the Labour Law. A further 1,507 individuals were arrested while reportedly attempting to cross the border into Saudi Arabia, with a majority of them being Ethiopian nationals numbering 53 per cent and Yemenis numbering 46 per cent.

  • Poverty in Yemen: Tracing the Path to Economic Downturn

    For the last ten years, a complex civil war has engulfed Yemen, leading to one of the worst humanitarian crises in the world. International reports indicate that Yemen currently ranks second globally among countries most affected by acute hunger, with millions of Yemenis facing escalating levels of malnutrition, poverty, and deprivation, as well as a severe shortage of basic services. The conflict development in the Red Sea by attacking the ships, hindering the delivery of humanitarian aid and external funding, has exacerbated the situation and accelerated the collapse of living standards.

  • Blinken says Israel-Saudi normalization possible before Biden steps down in January

    US Secretary of State Antony Blinken said Thursday he still hoped to seal a normalization deal between Israel and Saudi Arabia before President Joe Biden steps down in January. “I think if we can get a ceasefire Gaza, there remains an opportunity through the balance of this administration to move forward on normalization,” he told a news conference in Haiti.

  • What went down in August?

    The month began recording the lowest venture funding across all emerging markets in 2024, with no mega deals in sight. August also revealed an in-depth analysis of Africa’s H1 funding figures, highlighting a steep 57% drop compared to last year, marking the region’s most significant decline since 2019. Meanwhile, MENA defied global trends with a notable increase in investor activity, particularly from international backers. The month concluded with insights into investor behavior, spotlighting key players reshaping the venture landscape in the UAE and Saudi Arabia.

  • CEO of major Gulf defense firm, Saudi Arabia Military Industries, steps down

    After serving four years as CEO of government-owned defense firm Saudi Arabia Military Industries (SAMI), Walid Abukhaled has resigned from his position, according to the company.