MUST-READS

• Saudi Arabia, Lebanon Issue Joint Statement, Stress Taif Agreement and Regional Coordination

  The Kingdom of Saudi Arabia and the Lebanese Republic affirmed the importance of strengthening Arab action and coordinating positions on key issues in the regional and international arenas. They also emphasized the importance of the full implementation of the Taif Agreement, the application of relevant international resolutions, the extension of state sovereignty over all Lebanese territories, the exclusive possession of arms by the Lebanese state, reiterating the national role of the Lebanese army, the importance of supporting it, and the necessity of the withdrawal of the Israeli occupation forces from all Lebanese territories.

• Ninja Seeks $1 Billion Valuation in Fundraising Round Ahead of IPO

  Ninja, a Saudi Arabia-based quick commerce firm, is in talks with investors to raise funds, potentially valuing the company at over $1 billion. The funding round is led by Riyad Capital and could close as early as this month. The company is preparing for an IPO by 2027.  Operating in Saudi Arabia, Bahrain, Qatar, and Kuwait, Ninja aims to capture a larger share of the Gulf region’s growing e-commerce market. Its business model focuses on the rapid delivery of products like groceries and pet supplies through local fulfillment centers. The company’s expansion into neighboring markets underscores its ambition for regional dominance.

• SWPC Signs $2.26 billion Jubail-Buraydah Independent Water Transmission Pipeline Project

  Saudi Water Partnership Company (SWPC) announces the signing of agreements of Jubail-Buraydah Independent Water Transmission Pipeline (IWTP) project with the consortium comprising Aljomaih energy & water company and Nesma Company Ltd. and Buhur for Investment Company. This project is a significant boost to the water infrastructure in the Al-Qassim and the Eastern provinces that will cater to the drinking water needs in both regions. The pipeline will have a transmission capacity of 650,000 m3/day and a length of 587 km, at a total project cost of 8.5 billion riyals.

• Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on healthier oil market outlook

  The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met virtually on March 3, 2025, to review global market conditions and the future outlook. Taking into account the healthy market fundamentals and the positive market outlook, they re-affirmed their decision agreed upon on December 5, 2024, to proceed with a gradual and flexible return of the 2.2 mbd voluntary adjustments starting on 1st April, 2025, while remaining adaptable to evolving conditions. Accordingly, this gradual increase may be paused or reversed subject to market conditions. This flexibility will allow the group to continue to support oil market stability.

• Saudi, Lebanese leaders reaffirm commitment to Taif Agreement and Lebanon’s sovereignty

  Leaders of Saudi Arabia and Lebanon emphasized the importance of enhancing Arab cooperation and coordinating positions on regional and international issues, Saudi state news agency SPA reported on Tuesday. Both sides reaffirmed the necessity of fully implementing the Taif Agreement. This agreement, which ended Lebanon’s civil war, was negotiated in Saudi Arabia, in 1989. They also stressed the importance of ensuring Lebanon's sovereignty over all its territories, restricting weapons to the Lebanese state, and supporting the Lebanese army’s national role - calling for the withdrawal of the Israeli occupation forces from all Lebanese territories. These points were highlighted in a joint statement issued following the official visit of Lebanese President, Joseph Aoun, to Saudi Arabia.

• Heavy rains sweep across Saudi Arabia, triggering weather warnings and supension of in-person classes
  Saudi Arabia’s General Directorate of Civil Defense has issued a weather warning for most regions of Saudi Arabia, forecasting moderate to heavy rainfall across large parts of the country until Friday. The affected regions include Mecca, Riyadh, Medina, Tabuk, Hail, Qassim, the Eastern Province, Northern Borders, Al Jouf, Al Baha, and Asir. The Civil Defence urged residents to take necessary precautions, avoid flood-prone areas such as valleys, and refrain from swimming in them.

• Estimating the economic impacts of AI in Saudi Arabia

  Since 2019, the World Bank has been actively engaged with Saudi authorities to enhance the Kingdom's digital sector, and with AI adoption spreading at breakneck speed across the globe, this work continues.  Our collaboration has aimed to transform the way people in Saudi Arabia experience everyday online transactions and engage with government services through partnership and technical assistance with four key digital authorities: 1) the Ministry of Communications and Information Technologies (MCIT), 2) the Saudi Digital Government Authority, 3) the Saudi Data and Artificial Intelligence Authority, and 4) the Digital Cooperation Organization. And tangible results were achieved. For example, Saudi Arabia successfully implemented key reforms that revolutionized the production and delivery of public services through digital means. These reforms have improved back-end operations related to data and information management, streamlined workflows and processes around people’s needs, and enhanced online user interfaces. As a result, Saudi Arabia recently came up number 6 out of 193 countries in the 2024 United Nations E-Government Survey ranking.

• Saudi jobs market buoyant as Egypt and Kuwait struggle

  Staffing levels in Saudi Arabia surged in February as companies prepare for growth opportunities ahead. But it was a different story in neighbouring Kuwait and Egypt where jobs were lost in the face of a slowdown in new orders, according to the latest business sentiment surveys. Employment numbers in Saudi Arabia increased at the quickest rate in 16 months in February. The manufacturing and services sector in particular experienced significant growth, according to the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), a monthly indicator of conditions in the non-oil economy. The index fell from a decade-high of 60.5 in January to 58.4 last month, but remains well above the 50.0 mark that separates economic growth from contraction.

• Civil Defense warns of precaution amid forecast of rain in most Saudi regions until Friday

  The General Directorate of Civil Defense has issued a weather warning for most regions of Saudi Arabia. Moderate to heavy rain is expected to continue until Friday in the regions of Makkah, Riyadh, Madinah, Tabuk, Hail, Qassim, Eastern Province, Northern Borders, Al-Jouf, Al-Baha, and Asir. The Civil Defense urged all residents to take necessary precautions, avoid areas prone to flash floods such as valleys, and refrain from swimming in them. It also called on the public to stay informed about the latest weather updates through official channels and social media platforms.

• Why businesses must bridge the ‘generational gap’ to align with Saudi’s AI ambitions

  A significant challenge lies in bridging the generational gap in AI adoption. Younger generations, particularly Gen Z, have grown up immersed in technology and tend to feel at ease leveraging AI in the workplace. Millennials, who have witnessed firsthand the transformative power of digital innovation, are close behind. In contrast, more experienced professionals, including Gen X and Baby Boomers, often express greater caution, reflecting a natural hesitancy to embrace new ways of working. This divergence is especially relevant as in the kingdom, nearly two-thirds of the population are under 30. Yet older generations still hold many decision-making roles within organisations. As companies aim to unlock AI’s transformative potential, they must address this gap, ensuring that employees across all demographics are equally equipped to harness AI’s benefits.

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