MUST-READS

• Saudi pours billions into Diriyah as megaproject nears completion

  Developer Diriyah Company — backed by Public Investment Fund — secured $1.6 billion in financing to develop the Wadi Safar project, an upscale residential community being built alongside ultra-luxury resorts the Six Senses, Aman, and an Oberoi, in view of a Greg Norman-designed golf course. Armani, the Italian fashion house that has hotels and residences in Milan and Dubai, said it would build 15 branded residences in Diriyah. Saudi Arabia’s $63 billion Diriyah megaproject is taking shape with a flurry of new deals as the kingdom looks to complete major construction works in the capital before it hosts Expo 2030.

• Saudi Arabia launches loan guarantees for SMEs to stimulate investment in environmental projects

  Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadley witnessed on Sunday the signing of an agreement between the Environment Fund and the Small and Medium Enterprises Loan Guarantee Program (Kafalah) to launch a loan guarantee product to support environmental projects in the Kingdom. The agreement seeks to provide guarantees for credit facilities provided to small and medium-sized enterprises (SMEs), contributing to stimulating investment in the environmental sector. This agreement coincides with the launch of the Incentives and Grants Program Platform to support environmental projects in the Kingdom.

• Crown Prince launches Saudi Architecture Characters Map to celebrate Kingdom’s architectural heritage
  The Saudi Architecture Characters Map highlights 19 architectural styles inspired by geographical, natural and cultural characteristics, derived from urban and historical studies of building traditions passed down through generations. As chairman of the Supreme Committee for Saudi Architectural Design Guidelines, the Crown Prince emphasized that Saudi Architecture reflects the cultural and geographical diversity of the Kingdom. He further highlighted the importance of sustainable urban planning that harmonizes with the local environment while integrating traditional architectural elements into modern designs.

• Experts react: Trump just ordered major strikes against the Houthis. What does this mean for Yemen, Iran, and beyond?

  “We will use overwhelming lethal force.” That’s how US President Donald Trump described a campaign of airstrikes he launched Saturday in Yemen against the Houthis. The Iran-backed militia has been disrupting international shipping in the Red Sea since October 2023, and has continued to operate despite previous rounds of US and allied airstrikes. How exactly is the second Trump administration executing its largest military campaign yet? What will the impact be on the region? And what does this signal about Trump’s approach to Iran? Our experts responded in force with the answers.

• Saudi Arabia unveils plans for Global T20 League with $500M investment

  Saudi Arabia is set to launch a groundbreaking global Twenty20 league, backed by its $1 trillion sovereign wealth fund. Spearheaded by Australian cricket figure Neil Maxwell, the ambitious project aims to transform the sport by introducing a traveling eight-team league modeled after tennis’s Grand Slams. Financed by Saudi Arabia’s SRJ Sports Investments, the league is expected to host matches in four different locations throughout the year. Discussions with the International Cricket Council (ICC) are already underway, with sources indicating that Saudi Arabia is prepared to invest $500 million in the venture.

• Saudi Arabia records 23,865 violations in nationwide residency and labor law inspections

  The Ministry of Interior conducted inspection campaigns across Saudi Arabia between March 6 and March 12 to ensure compliance with residency, labor, and border security laws. A total of 23,865 violations were recorded, including 16,644 related to residency, 3,896 to border security, and 3,325 to labor laws. Authorities intercepted 1,432 individuals attempting to cross into the Kingdom illegally, of whom 29% were Yemenis, 67% Ethiopians, and 4% from other nationalities.  Additionally, 97 people were arrested for attempting to leave the Kingdom illegally. Thirteen individuals involved in transporting, sheltering, and employing violators were also arrested.

• Saudi Arabia, Indonesia to ink MoU to resume hiring domestic workers
  Saudi Arabia and Indonesia are set to sign a memorandum of understanding (MoU) to facilitate the recruitment of domestic workers from Indonesia to Saudi Arabia, Bloomberg reported. “The MoU will be signed between the two countries later this month in Jeddah,” said Abdul Qadir Karding, Indonesia’s Minister for the Protection of Migrant Workers. Saudi Arabia is offering a total of 600,000 job opportunities, including 400,000 positions for domestic workers and 200,000 jobs in the formal sectors, added Karding.

• Saudi Arabia launches crackdown on ‘immoral acts’ amid social reforms

  Saudi Arabia has arrested more than 50 people, including 11 women on prostitution charges, in a new crackdown on “immoral acts” amid ongoing social and economic transformations under Crown Prince Mohammed bin Salman. According to a report by the FT, the Ministry of Interior’s newly established unit, tasked with tackling “community security and human trafficking,” has also detained dozens of foreigners for alleged offences in massage parlours and for forcing women and children into begging. This marks the first time in over a decade that authorities have publicly acknowledged the existence of prostitution in the kingdom.

• US ends Iraq’s Iran electricity waiver, stoking crisis and opportunity

  The Donald Trump administration has declined to renew a sanctions waiver for Iraq's electricity imports from Iran, raising the spectre of a power crisis in Baghdad. Part of Trump’s "maximum pressure" policy towards the Islamic Republic—and with the Iraqi banking sector also seemingly in Washington’s crosshairs—the move has stoked fears that the fallout could reverse Iraq’s delicate economic and security gains, particularly in an election year.

• Saudi crown prince congratulates Mark Carney on confirmation as Canada PM

  Saudi Arabia's Crown Prince Mohammed bin Salman congratulated Mark Carney on Friday, on the occasion of the formation of the new government headed by him and his taking the constitutional oath as Prime Minister of Canada, the Saudi Press Agency reported. The crown prince expressed his best wishes for success and guidance to Carney and for the friendly people of Canada further progress and prosperity, SPA added. Ex-central banker Carney succeeded Justin Trudeau as Canadian premier, following the latter’s announcement of his resignation in January.

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