MUST-READS

• Fitch Affirms Saudi Arabia at ‘A+’; Outlook Stable

  Saudi Arabia's ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the 'A' and 'AA' medians, and significant fiscal buffers in the form of deposits and other public sector assets. Oil dependence, low World Bank governance indicators and vulnerability to geopolitical shocks have improved but remain relative weaknesses. Deep and broad social and economic reforms implemented under Vision 2030 are diversifying economic activity, albeit backed by large public spending.

• 55 Saudi companies take part in Baghdad International Fair

  The Saudi Export Development Authority (Saudi Exports), in partnership with the Saudi-Iraqi Coordination Council, is participating in the 48th edition of the Baghdad International Fair. The Saudi pavilion features 55 national companies representing various export sectors. The exhibition, which kicked off on Saturday and will run through until Feb. 7 in the Iraqi capital Baghdad, presents a valuable opportunity to strengthen trade ties between Saudi Arabia and Iraq while showcasing the Kingdom’s leading products and services. Saudi non-oil exports to Iraq have reached nearly SR20 billion over the past five years (2020–October 2024), with metals and their products, food industries, and electrical machinery and equipment ranking as the top export sectors during this period

• Saudi sets rules for financial settlement with persons involved in corruption crimes

  Saudi Arabia published six rules for reaching financial settlements with natural or legal persons that have committed corruption crimes, according to the Official Gazette. Under the first rule, the Oversight and Anti-Corruption Authority (Nazaha) is responsible for concluding settlement agreements with individuals or entities that voluntarily submit a request, provided that the corruption crime was committed before Nov. 4, 2017, and had not been previously discovered. The settlement agreement must be made according to certain criteria. The individual or entity shall abide by returning or collecting the funds involved in the crime—or the equivalent value—along with any generated proceeds, if any.

• Saudi Arabia announces major healthcare expansions, new cancer center, pharmacy chain

  Major medical initiatives to bolster Saudi Arabia’s healthcare sector have been unveiled this week, including a state-of-the-art oncology center and a huge pharmacy chain expansion. These initiatives represent growing private sector involvement in the Kingdom. Johns Hopkins Aramco Healthcare (JHAH), established in 2014 as a joint collaboration between Saudi Aramco and Johns Hopkins Medicine, is launching an Oncology Center of Excellence in Saudi Arabia. Through this collaboration, JHAH has launched more than 50 knowledge-sharing programs enhancing critical specialities, including oncology, cardiology, neurology, and musculoskeletal health. In parallel developments, Aster Pharmacy announced plans to significantly expand its presence in Saudi Arabia through a joint venture with Al Hokair Holding Group.

• How Saudi Arabia is preserving its precious freshwater resources

  Water scarcity is a pressing issue in Saudi Arabia, significantly impacting the country’s socio-economic development as well as its environmental sustainability. As one of the hottest and driest regions in the world, the Kingdom faces many challenges owing to its limited natural freshwater sources and high rates of evaporation. These harsh realities have forced the country to rely on limited groundwater and desalination plants, where 75 percent of the country’s water supply comes from. Ecolab operates in 40 different industries across 172 countries, managing water supplies, combating potential pollutants and infections, and focusing on human and natural resource protection. The company has been operating in Saudi Arabia for 47 years, collaborating with local firms such as Saudi Aramco, SABIC, and Almarai. “This country has a lot of natural resources and a lot of ambition. But one thing is missing — water. There are no lakes, no rivers, but there is a lot of sea around us. However, this is not freshwater. That’s a big challenge,” said Beck.

• Secretary Rubio’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
  Secretary of State Marco Rubio spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.  The Secretary and Foreign Minister discussed the path forward in Gaza and ways to advance shared interests in Syria, Lebanon, and across the region, to include Red Sea security and freedom of navigation.  The Secretary thanked the Foreign Minister for Saudi partnership in helping to chart a new course for Lebanon and humanitarian assistance to Syria and Sudan.  The Secretary said he looked forward to strengthening the U.S.-Saudi partnership.

• Saudi Ministry of Education issues directive for national dress for secondary school students

  The Saudi Ministry of Education announced on Friday a new policy requiring secondary school students in public and private institutions to adhere to the national dress code. The policy comes in line with the directives of Crown Prince Mohammed bin Salman, the Saudi Press Agency  reported. The decision, which aims to reinforce national identity and instill pride in Saudi heritage, mandates that Saudi students wear the traditional thobe along with a ghutra or shemagh, while non-Saudi students are required to wear the thobe, SPA added. The policy does not apply to students enrolled at foreign schools. The move reflects the crown prince’s commitment to strengthening the connection between younger generations and Saudi Arabia’s cultural heritage, SPA reported.

• Saudi Arabia mandates national attire for male secondary school students

  The Ministry of Education has mandated that all male students in public and private secondary schools wear national attire, in line with directives from Crown Prince and Prime Minister Mohammed bin Salman. The initiative aims to reinforce national identity and educational values among students. Under the new policy, Saudi students are required to wear the traditional thobe along with a ghutra or shemagh, while non-Saudi students will wear the thobe, except for those attending foreign schools. National attire is regarded as a cornerstone of Saudi identity, supporting the Kingdom’s ongoing initiatives under Vision 2030 to strengthen cultural and historical awareness among the younger generation.

• Will the Ceasefire Lead to Normalization with Saudi Arabia?

  Since the war began, Saudi Arabia has intensified its tone toward Israel, and public messages from Riyadh have become critical, even venomous. The peak came in November of last year, when Crown Prince Mohammed bin Salman, the strongman of the kingdom, accused Israel of committing “collective genocide” against Palestinians in Gaza. Such statements from the de facto leader of the Saudi kingdom had not been heard before and seemed to contradict some of his previous statements regarding Israel before the war. Since the onset of the war, the kingdom has called for an immediate ceasefire, and when it was achieved, the Saudi Foreign Ministry welcomed it, adding that the kingdom hopes that it will end the “Israeli barbarism and aggression” in Gaza. Initially, the kingdom had called for an IDF withdrawal from Gaza, but recently, it added the demand for withdrawal “from all Arab territories,” referring to positions held by the IDF in southern Lebanon and the Syrian side of the Golan Heights. In doing so, Saudi Arabia is aligning itself with other Arab states.

• Combine yachting and Formula 1 at the Saudi Arabian GP

  From 18 to 20 April, the Saudi Arabian Grand Prix will take place at the renowned Jeddah Corniche Circuit, offering a spectacular coastal venue where yachting and Formula 1 can combine. With capacity for yachts up to 120 metres, Jeddah Yacht Club and Marina still has berths available and is offering a 30% discount on rates over the event. Attending yachts will enjoy unparalleled convenience and the ability to soak up the electric atmosphere from the dock. “The marina is next door to the racetrack, so guests can be at the VIP lounges within minutes,” says Niel Gow, Agency Operations Manager at Hill Robinson. “It really is the best way to attend the event.”

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