MUST-READS

• Saudi crown prince holds telephone call with UAE president

  Saudi Crown Prince Mohammed bin Salman phoned the President of the United Arab Emirates Sheikh Mohamed bin Zayed Al-Nahyan on Tuesday. During the call, the two leaders reviewed relations between their countries and areas of existing cooperation and opportunities for developing them, Saudi Press Agency reported. Prince Mohammed and Sheikh Mohamed also discussed the latest regional and international developments and efforts made toward them to achieve security and stability.

• 3 ways Gulf economies are tackling the global talent shortage
  Ageing populations and demographic shifts are reducing the pool of skilled workers, even as rapid technological advancements outpace workforce skills. Fields such as artificial intelligence (AI), data science and cybersecurity face surging demands but are struggling to find qualified candidates for these roles. While not immune, Gulf Cooperation Council (GCC) economies are turning this challenge into an opportunity, adopting a three-pronged strategy to drive sustainable growth in the Middle East.

• Saudi-GCC non-oil commodity exports soar to $2.5bln

  The total non-oil commodity exports, including national exports and re-exports, between Saudi Arabia and GCC states surged to hit SAR9.5 billion ($2.5 billion) in November 2024, reflecting an estimated annual growth of 43% from the previous year's figure of SAR6.624 billion ($1.76 billion). The total commodity imports amounted to approximately SAR5.663 billion, according to the preliminary data from the General Authority for Statistics' international trade report for November 2024. The Saudi non-oil trade balance recorded a surplus with the GCC states amounting to SAR3.718 billion, bringing the total to SAR3.805 billion. This marks an annual growth estimated at 4,277.7% compared to the same period in 2023, when the surplus was SAR86.9 million, stated the offical data.

• Distinguishing Myth From Reality: Saudi Arabia’s Trade and Investment With the United States

  Verifying the numbers quoted by Trump, Al-Jadaan, and Crown Prince Mohammed Bin Salman is not easy. Definitions are not always clear, data on Saudi investment in the United States is not comprehensive, and there are errors and omissions in the Saudi balance of payments data that could mean its imports are underrecorded. With these constraints in mind, the following is a best effort at pulling together the relevant information on U.S.-Saudi trade and investment relations to see which numbers stand up to scrutiny and which do not.

• The Gulf States in a New Syria

  While Egypt became the most visible manifestation of the divergence of Gulf approaches, with first Qatar (in 2012) and then Saudi Arabia and the UAE (in 2013) backing opposing sides in the post-Hosni Mubarak maelstrom, similar trends were apparent in Syria in and after 2011. Different rebel groups received support from Qatar and Saudi Arabia in the critical opening years of the uprising, while flows of financial and logistical aid from the Gulf, especially from or routed through Kuwait, added further complexity. Although there was some coordination between Saudi and Qatari officials after 2013, other external interests, from Turkey and Iran and, after 2015, Russia, became entrenched in a precarious new status quo in Syria. The recapture of Aleppo by regime forces at the end of 2016 appeared to seal the end of the uprising, by which time global attention had shifted onto the Islamic State group in Syria and Iraq. 

• The foreign aid freeze poses risks to US interests in Syria

  In his confirmation hearing in January, US Secretary of State Marco Rubio previewed his priorities for an outcome in Syria that is favorable to US interests and, more importantly, for the people of Syria. Rubio described an endgame in which Syria is not a land bridge for Iranian proxies, a chessboard for foreign interventions, or an exporter of drugs and terrorism. On several fronts, the Trump administration should pick up where the Biden administration left off in helping Syrians to rebuild their country.

• How PIF is supercharging the new golden age of gaming

  Valued at more than $200 billion globally – larger than the film and music industries combined – the gaming industry has evolved far beyond the realm of entertainment. Games are now home to virtual economies and used as educational tools, and they are influencing the business world by offering new ways to reach their customers. As gaming expands, countries have been racing to stake their claim on a sector that PWC says will see revenues top $300 billion by 2028. PIF’s Savvy Games Group already owns the largest esports company in the world, ESL FACEIT Group (EFG), a merger between two esports organizers Savvy bought. The company’s acquisition of U.S. games publisher Scopely means Savvy now ranks among the world’s top 20 game developers.

• Saudi Arabia increases defense spending to $78B in 2025

  The Kingdom of Saudi Arabia has allocated $78 billion for defense spending in 2025, up from $75.8 billion spent in 2024, Governor of the General Authority for Military Industries (GAMI) Ahmad Al-Ohali said in a statement Saturday. “The Kingdom allocated approximately $78 billion to the military sector in the 2025 budget, which constitutes 21% of total government spending and 7.1% of Saudi Arabia’s gross product,” he said, according to the statement. The statement further noted that the Kingdom has witnessed a 4.5 percent annual defense growth since 1960, adding that it has become the fifth largest defense spender worldwide and the largest in the Arab world.

• Saudi Arabia Defers $1.2B Oil Payment By Pakistan

  Pakistan has signed an agreement with the Saudi Fund for Development to defer a $1.2 billion payment on the country's oil imports by one year, the office of Pakistan's prime minister said on Monday. "This project will strengthen Pakistan's economic resilience by securing a stable supply of petroleum products while reducing immediate fiscal burdens," Prime Minister Shehbaz Sharif’s office said when welcoming the signing of the oil import financing facility. Pakistan has been experiencing an economic crisis since 2022, characterized by high inflation, high debt, job cuts, and a struggling fiscal position. At some point the country was facing a severe shortage of foreign exchange reserves and risked defaulting on its debt obligations.

• Saudi Arabia champions youth as it drives talent development to fuel Vision 2030

  Figures from the General Authority for Statistics released in 2023 show that 63 percent of the Kingdom’s population is under 30 years old, and the government and private sector are working hand-in-hand to shape the coming era. “Digital literacy is essential, as technological advancements require the younger generation to not only be proficient in the latest advancements but also drive innovation in areas like AI and data analytics,” Riyadh Al-Najjar, PwC Middle East chairman and Saudi Arabia country senior partner, told Arab News.  He added: “An entrepreneurial mindset is equally important, as the success of Vision 2030 relies on growing the private sector. Young people need to be able to spot opportunities, think critically, and solve problems that add value to the economy.”

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