MUST-READS

• Saudi Film Commission takes charge of cinema sector

  Saudi Arabia’s Film Commission has announced it will now have oversight over the cinema sector, which will no longer fall under the jurisdiction of the General Authority of Media Regulation. The Council of Ministers had ordered the change, which has now been implemented after the completion of the required regulations, the Saudi Press Agency reported on Monday.

  The first phase includes regulating licensing for the operation of permanent, temporary and special cinemas, as well as the production, distribution and import of movies, videos and television programs.

• China-Gulf free trade talks stall on Saudi industrial agenda, sources say
  Negotiations between China and an Arab bloc for a free trade agreement have stalled over concerns by Saudi Arabia that cheap Chinese imports could undermine its ambitions to transform the kingdom into an industrial powerhouse, sources say.
  Saudi Arabia has backed renewed efforts over the past two years for the Gulf Cooperation Council (GCC), the Arab bloc which includes the kingdom, United Arab Emirates and Qatar, among others, to finally seal a long sought deal with China.

• How Al Hilal won the Saudi Pro League title

  Hilal has been a ruthless, winning machine in the 2023-24 season - memorably setting a new world record of 34 successive victories in all competitions, 20 of which came in the Saudi Pro League. If Jorge Jesus’ side can avoid defeat in its final three games it has the chance to complete an invincible season, though the first of those is against a wounded Al Nassr team.

• Economic Shocks Spur Saudi To ‘Reprioritise’ Reforms: Official
  Speaking at the Qatar Economic Forum on Tuesday, Saudi Finance Minister Mohammed al-Jadaan noted that Vision 2030 launched in 2016, well before the pandemic, wars in Ukraine and Gaza and problems like inflation and supply chain disruptions.

   "All of these collective shocks that are facing the world calls us also to reprioritise, to look at what we are doing, and how can we actually optimise what we are doing, optimise our plans," Jadaan said.

  Giving the reforms "more time" could ultimately be better for the Saudi economy, allowing the private sector to grow alongside the giga-projects, he said. "If you don't allow your economy to catch up with your projects, basically what will happen is you will import a lot more," Jadaan said.

• Biggest Saudi IPO of the Year Draws $91 Billion in Orders

  Investors put in $91 billion of orders for the initial public offering of a Saudi hospital group that’s set to be the kingdom’s biggest listing of the year.

  Dr. Soliman Abdul Kader Fakeeh Hospital’s Riyadh IPO was covered 119 times by institutional investors, according to a statement on Tuesday. The company and the founding family are set to raise 2.86 billion riyals ($763.4 million) in the listing.

  The final price was set at 57.5 riyals, the top end of a marketed range, implying a total market capitalization of 13.3 billion riyals. The offering had sold out shortly after books opened earlier this month.

• Biggest Saudi Arabia IPO of the Year Draws $91 Billion in Orders

  Investors put in $91 billion of orders for the initial public offering of a Saudi hospital group that’s set to be the kingdom’s biggest listing of the year. Dr. Soliman Abdul Kader Fakeeh Hospital’s Riyadh IPO was covered 119 times by institutional investors, according to a statement on Tuesday. The company and the founding family are set to raise 2.86 billion riyals ($763.4 million) in the listing.

• Saudi Mega Projects Seek Partners in Bid to Hit Crown Prince MBS’s Goals

  Top officials from Saudi Arabia’s mega projects gathered in Riyadh to share progress updates and seek partners to help deliver a key pillar of Crown Prince Mohammed bin Salman’s plan to transform the economy. Executives from The Line, New Murabba and Diriyah Company — complex developments ranging from a futuristic mega city on the Red Sea to an urban development housing a cube-shaped skyscraper set to be the tallest in the Saudi capital — discussed challenges with supply chains, costs and finding skilled workers as they underscored the urgent need for experienced partners to assist in completing projects.

• Saudi Arabia’s 60-Year Battle for Food Security

  For over half a century, food security has been a strategic issue for Saudi Arabia. More recently, the 2008 food price crisis and the 2020 food supply disruptions gave Saudi decision makers a taste of what the future might look like in a climate-changing world, as two of the most salient issues will be access to drinking water and food – essential resources the kingdom sorely lacks. With 90% of its land unfit for agriculture and 70% of its water coming from desalination plants, water and food security can look like an unwinnable battle for Saudi Arabia.

• Oman Cultural Complex Highlights Shift in Arab Cultural Production

  Oman is not the first Gulf Arab state to build a cultural complex. The Saadiyat Cultural District of Abu Dhabi, which hosts the Louvre Abu Dhabi and Guggenheim Abu Dhabi as well as the National Museum, Performing Arts Center, and Arts Center, with five theaters, concert venues, and Abu Dhabi Performing Arts Academy, might be the most internationally recognized cultural complex.

• What’s a Golden Visa and Where Can You Still Get One?

  Often known as a “residence by investment program,” a golden visa allows individuals to obtain temporary or permanent residency in a given country, so they can live and work there. The investments may include buying a house, creating a company or making a donation.

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