MUST-READS

• Saudi Crown Prince, Putin discuss bilateral cooperation and Ukraine conflict

  The Crown Prince emphasized the Kingdom’s commitment to doing everything possible to support dialogue and find a political solution to the conflict in Ukraine. The Russian President expressed his continued support for these efforts, according to the SPA. The conversation followed a Tuesday meeting in Jeddah, where Ukrainian and American officials convened under the auspices of Saudi Arabia to discuss Ukraine-Russia ceasefire proposal. At the meeting, Ukraine expressed readiness to accept the US proposal for a 30-day interim ceasefire, with Washington committing to discuss proposals for a lasting peace that ensures Ukraine’s long-term security.

• 60 mosques out of 130 most treasured mosques across Saudi Arabia restored

  As many as 60 mosques, among a total of 130 most treasured historical mosques across all 13 regions of Saudi Arabia have been preserved and restored during the first and second phases of the project's implementation. This was revealed in a review meeting of Prince Mohammed bin Salman Project for Development of Historical Mosques held in Riyadh on Tuesday. During the meeting, the project reviewed governance, work phases, implementation paths, and the latest developments with stakeholders and officials from several governmental, non-profit, and private entities. The project aims to develop 130 historical mosques across the Kingdom while ensuring the preservation of their unique architectural elements and restoring them to their original state in line with modern requirements. The project, which was launched by Crown Prince and Prime Minister Mohammed bin Salman in 2018, is dedicated to preserving the Kingdom's mosques and sharing Saudi Arabia's rich culture, history, and heritage with the world.

• Saudi Aramco, IEA Chiefs Clash In Houston Over The Future Of Oil

  With the CERAWeek 2025 conference in Houston drawing to a close, C-Suite executives, ministers and top officials have weighed in on the trajectory of the global oil and gas sector with experts debating whether tariffs, trade, and competition will replace security, affordability, and sustainability in shaping energy markets and policy. However, one of the biggest highlights of the conference has been the showdown between Saudi Aramco’s CEO Amin Nasser and IEA Executive Director Fatih Birol and their highly divergent views on the future of the global oil industry. Once again, the Aramco CEO was adamant that there were “inherent flaws” in the energy transition away from conventional fuels, saying, “So I pay little attention to forecasts claiming that next year will be peak this, or peak that,” in a thinly-veiled dig at the IEA which has predicted a peak in oil demand by the end of the current decade.

• Saudi leader parlays oil wealth into global diplomatic clout

  Saudi Arabia, a country that is largely made up of desert, has fewer than 40 million people, and boasts a middling military with no nuclear arms, may be emerging as the 21st century’s most improbable superpower. He has drawn closer to China, and to Russia, as a fellow oil producer. He has been welcomed into the BRICS economic coalition of countries in the Global South. And he is also a major player on two international policy fronts where his interests and Washington’s could clash. The first is artificial intelligence and technology, a centerpiece of Crown Prince Mohammed’s vision of a post-oil economy. He has earmarked billions of dollars to attract experts, researchers, and entrepreneurs in AI to visit, teach, invest, and set up shop in Saudi Arabia. U.S. officials are worried that this initiative could transform the kingdom into a sanctions-busting back door for China, as Beijing seeks top flight technology.

• The UAE’s $2 billion bet on a pro-crypto Trump

  Abu Dhabi is staking out its position in a more crypto-friendly world order. MGX — backed by state investment vehicle Mubadala and the Emirati AI firm G42 — this week invested $2 billion in cryptocurrency stored by Binance in exchange for a minority stake in the world’s largest crypto exchange by volume. The deal is the first time Binance has taken a corporate investment of this kind. The funds will be used to further develop blockchain technology as Binance looks to attract more business from institutional investors, the firms said in a statement.

• Saudi Arabia has highest penetration rate of women professional gamers globally: Saudi prince: Video
  HRH Prince Faisal bin Bandar Al-Saud, chairman of the Saudi Esports Federation, said on Thursday at CONVERGE LIVE that the country has had the opportunity to show that professional gaming is a “real career path with no baggage for women”.

• Saudi Arabia still needs consultants despite PwC ban

  “They can’t do this without a lot of people and a lot of expertise,” said Dane Albertelli, a senior analyst at Source Global Research, which analyses global consultancies. “At the moment, they’re kind of maxed out.”  Neither PIF, the $925 billion sovereign wealth fund at the forefront of the kingdom’s investment drive, nor PwC have commented publicly but it seems that a fight over expertise was the most immediate cause of the spat. The UK’s Financial Times has reported that PIF was irked by an attempt by PwC to poach a top auditor from one of its subsidiaries, Neom. These giga projects and others need specialised skills that are in relative short supply in the kingdom of 19 million Saudi citizens, almost half of whom are under the age of 30. Mohammad Al Qahtani, a former senior official in the Saudi royal household, and now CEO of Riyadh-based investment management company Saudi Arabia Holding Co, told his 308,000 followers on LinkedIn last week: “The PIF-PwC decision isn’t just a headline – it’s a wake-up call.”

• Saudia ‘still a flag carrier’ ahead of Riyadh Air launch

  Saudi Arabia’s flag carrier Saudia is upgrading its fleet with new Boeing and Airbus aircraft even as the government prepares to start a new airline later this year. The 80-year-old carrier has 118 aircraft on order, most of which will replace older models in its existing fleet of 147, and are scheduled to arrive through next year. Meanwhile, the new airline Riyadh Air will replace Saudia as the kingdom’s primary flag carrier and operate out of the capital. Saudia, by contrast, will focus its operations out of Jeddah, its historic city on the Red Sea coast and the gateway to Islam’s holiest sites in nearby Mecca and Medina.  The world’s second-largest oil producer is investing or seeking investment of around $100 billion in its aviation infrastructure and equipment as part of efforts to more than triple passenger traffic to 330 million by 2030.

• IEA’s hard line on oil glut clashes with Opec forecast

  In a monthly report published on Thursday the IEA forecast that oil demand would grow by 1 million barrels per day (bpd) in 2025, down 70,000 bpd from its February prediction. The Paris watchdog cited deteriorating macroeconomic conditions due to trade tensions. “New US tariffs, combined with escalating retaliatory measures, tilted macro risks to the downside,” the IEA said. Asian countries will account for almost 60 percent of the growth, with the lead taken by China, where the need for petrochemical feedstock will take up all of the growth. The IEA’s forecast contrasts with Opec‘s outlook, which remains confident in relatively strong demand and in plans to increase output. On Wednesday the organisation, led by Saudi Arabia, kept its forecast for demand growth at 1.4 million bpd this year, pointing to air travel and transport as a driver.

• ‘Golden era’ for GCC capital markets as global investors cash in on $2.3 trillion powerhouse
  GCC capital markets have undergone an unprecedented transformation, soaring to a collective market capitalisation of $2.3 trillion by the end of 2024, with international investors increasingly viewing the region as a long-term structural investment opportunity rather than a tactical allocation. “The pace of reforms in this region has been phenomenal and stakeholders in each market have a powerful and persuasive story to tell global investors,” said Nabeel Albloushi, HSBC’s Regional Head of Markets & Securities Services for the Middle East North Africa & Türkiye (MENAT) region, speaking to Arabian Business at the HSBC MENAT Future Forum in Dubai this week. “We are living our golden era right now,” said Karim Tannir, Head of Banking for MENAT at HSBC Holdings. “If I have to pick one sector that demonstrates the growth and momentum in the region, I would have to say the capital markets, specifically the IPO markets…which has become world-leading, with issuances among the largest by volume.”

• 10 of 63018 results<< 1 … 5 6 7 … 6,302 >>