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  • Saudi Internet Penetration Reaches 99%
     

    According to the “Internet Saudi Arabia” report for 2023, published by the Communications, Space, and Technology Commission, both men and women demonstrated high levels of internet usage, with rates of 99.3 percent and 98.5 percent respectively. The report also says that 52.3% of users spend more than seven hours online each day.  

     
  • Nusuk pilgrim card launched
     

    With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.

     
  • Saudi Space Agency and WEF Establish Space C4IR Center
     

    The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR)  focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.

     
  • IMF Launches New Regional Office in Saudi Arabia
     

    The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration.  It also underscores the growing economic importance of the region.

     
  • Saudi’s Regional Headquarters Program Moves Forward
     

    In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023. 

     
  • Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
     

    In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.

     
  • U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
     

    U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson.  Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship. 

     
  • PIF Increases Investment in Lucid
     

    Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.

     
  • U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
     

    U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”

     
  • Saudi Non-Oil Activity reaches 50% of GDP as Economy Continues to Diversify
     

    Non-oil economic activity in Saudi Arabia contributed 50 percent to the Kingdom’s gross domestic product in 2023, the highest level ever, the Ministry of Economy and Planning said on Thursday. The total non-oil economy was worth $453 billion at constant prices, driven by continued growth in investment, consumption and exports.

     

MUST-READS

  • Domestic travel in Saudi Arabia up 30% as government’s cultural vision boosts tourism

    ore than 10.5 million Saudis travelled to cultural sites within the kingdom in the first 10 months of 2021, marking a 30 per cent increase from the previous year. The data was revealed by the Ministry of Culture in Saudi Arabia on Wednesday in a report, which assesses the growth of cultural activities within the country. According to State of Culture in the Kingdom of Saudi Arabia 2021: Culture in Public Spaces, between 2017 and 2021, domestic cultural tourism grew by 4.5 per cent annually. The lifting of Covid-19 restrictions on open spaces, such as heritage and archaeological sites, and the general increase in cultural activities and experiences, were key drivers of the growth, it said.

  • Saudi government selects IBM as partner for digital skills building

    Special note is given to the role of four academies to enhance digital skills – namely, Saudi Digital Academy, Misk Academy, Tuwaiq Academy, and National Information Technology Academy. The initiatives have helped reach more than 15 million beneficiaries, with more than 70,000 young people benefiting from initiatives to enhance their digital skills, along with more than 31,000 trainees and trainees in the Future Skills initiative.

  • Saudi Central Bank transforms connectivity between banks and government agencies

    As per the Saudi news agency, the program named “Tanfeeth” is part of SAMA’s strategic objective to upgrade its IT infrastructure and optimise administrative processes including speed, quality, and integration with financial institutions operating in Saudi Arabia in line with Saudi Vision 2030.

  • Saudi Arabia Elevates Two Women to Senior Roles in Government

    Saudi Arabia has appointed two women to senior positions in government, the latest sign that the kingdom is looking to diversify a predominantly male workforce. Shihana Alazzaz has been named the first female Deputy Secretary General of the Saudi Cabinet, according to a royal decree issued on Sunday. Alazzaz was one of the first women licensed to practice law in Saudi Arabia and joins from the Public Investment Fund, where she was general counsel.

  • Saudi stock exchange approves listing of $1.5bn government debt

    The Saudi stock exchange has approved the listing of SR5.44 billion ($1.5 billion) worth of government debt instruments submitted by the Ministry of Finance, it said in a statement. Divided into two issuances, the first is valued at SR2.86 billion, while the other one has a size of SR2.58 billion.

  • Saudi Government Begins Funding Longevity

    What exactly this money will be spent on is still unclear, but near the top of the list appears to be helping to fund the long-anticipated Targeting Aging with Metformin Trial, or TAME Trial. Led by Dr. Nir Barzilai, TAME would test whether those taking the popular diabetes drug metformin experience delayed development or progression of age-related chronic diseases—such as heart disease, cancer, and dementia. This study has been in the works for years with funding as the major remaining obstacle.

  • US government watchdog says weapons sales to Saudi Arabia, UAE lack oversight

    The report, also seen by The New York Times, focuses on attacks between 2015-2021 by the Saudi-led coalition, which has been at war with Yemen's Houthi rebels since March 2015.

  • Saudi pro-government commentators relish Biden’s about-face on kingdom

    "We said it before and we did not exaggerate, they (Western leaders) will all come successively to Riyadh," tweeted Faisal AlShammeri, a reporter at Saudi-owned Al Arabiya TV. "Realpolitik changed the administration's convictions," he added.

  • Government allots housing for 5,589 Saudi families whose homes razed in Jeddah

    The Emir was briefed on the work of the razing projects that cover 32 neighborhoods. The removal of 20 neighborhoods has been completed, while work is under way to raze the remaining 12 neighborhoods. Meanwhile, Muhammad Al-Baqami, spokesman of the Jeddah Mayoralty, revealed that 20 slums and random neighborhoods have been razed so far. He said that work would continue until all slums are removed. The removal works of the remaining 12 neighborhoods are in various phases of implementation.

  • NEOM ‘fully under Saudi sovereignty, regulations,’ says government official refuting inaccurate media reports

    The clarification came after NEOM's tourism sector head Andrew McEvoy made comments to media during his participation at Arabian Travel Market in Dubai about demographic status within the megacity, suggesting that residents within NEOM will have a special status, distinguishing them from others.