MUST-READS

• SAMA licenses STC Bank to start operations in Saudi Arabia

  The Saudi Central Bank (SAMA) gave the green light for STC Bank to commence its operations in the Kingdom. In April 2024, SAMA granted stc an experimental launch permit for STC Bank.  The bank, in which stc holds an 85% stake, aims to provide Shariah-compliant banking services and financial solutions. Arabian Internet and Communications Services Co. (solutions) initially established STC Bank in 2017, with SAR 100 million in capital. The ownership was transferred to stc in 2019, with capital increased to SAR 400 million by the end of the same year.

• MBS meets Bill Clinton, former US president, in Riyadh

  Saudi Crown Prince Mohammed bin Salman met on Wednesday with former US President Bill Clinton, the Saudi Press Agency (SPA) reported. MBS met with Clinton at his office in the Saudi capital, Riyadh, SPA said. The two officials held friendly talks, the report added. The meeting was attended by the Kingdom’s ambassador to the US, Princess Reema bint Bandar, Minister of State and National Security Adviser Musaed bin Mohammed al-Aiban along with Clinton’s accompanying delegation.

• SAFF officials open world football’s first dedicated Football Research Institute in Riyadh

  The Saudi Arabian Football Federation [SAFF] has officially launched the Saudi Arabian Football Federation Institute of Research [SAFFIR], marking the world's first dedicated Research Institute for Football operated by a Football Federation. ‘SAFFIR’ - translated from Arabic as ambassador – is a symbol for the Institute’s aim to act as a connecting point between researchers, scholars, policy makers and the wider football community as a source of knowledge and insights for the game beyond the pitch. The first-of-its-kind institute in Riyadh will welcome its first researchers, scholars, football policy makers and lecturers to the site this week, with international researchers from all over the world arriving to begin ground-breaking projects on football and its impact - on and off the pitch.

• Energy and Climate Issues During the Trump Administration’s First 100 Days

  President Donald Trump has made energy a clear focus for his second term in the White House. Having campaigned on an “America First” platform that highlighted domestic fossil fuel growth, the reversal of climate policies and clean energy incentives advanced by the Biden administration, and substantial tariffs on key US trading partners, he declared an “energy emergency” on his first day in office. How Trump’s platform will be transformed into action remains uncertain, as are the associated energy, environmental, economic, and geopolitical implications. In this series, scholars at the Center on Global Energy Policy examine central energy questions and issues facing the Trump administration in its first 100 days as it works to realize the energy vision outlined during the presidential race and consider the domestic and global outcomes of the decisions it may make.

• Steven Gerrard: Al Ettifaq manager leaves role at Saudi Pro League side by mutual consent

  Ex-Liverpool and England midfielder Gerrard, who joined Al Ettifaq in July 2023, signed a two-year contract extension in January 2024 that was due to keep him at the club until 2027. But the 44-year-old leaves the role with Al Ettifaq sitting 12th in the 18-team Saudi Pro League, just five points above the relegation zone. Al Ettifaq have won just five of their 17 league games this season under the ex-Rangers boss, most recently drawing 2-2 with second-bottom side Al Wehda FC.

• Saudi Arabia’s evolving lending market: Surge in international interest and diversification of borrowers

  In recent years, the Kingdom of Saudi Arabia has implemented large scale regulatory reforms, including the Civil Transactions Law, Bankruptcy Law, Public-Private Partnership Program, and the Government Tenders and Procurement Law. These reforms were designed to enhance the Kingdom’s diversification efforts and attract international business – they have also propelled the country to rank 16^th globally on the IMD World Competitive index. Historically, the interest in Saudi borrowing has been predominantly domestic or from the Gulf Cooperation Council (GCC) countries. However, we expect to see a shift in 2025, with a surge in interest from international markets. Several factors contribute to this change.

• Collector Basma Al Sulaiman on the Future of the Saudi Art Market: ‘We Are Not Just Consumers’

  The Gulf has been a hotbed of cultural investment in recent years. Saudi Arabia, in particular, has experienced a burgeoning museum landscape—both public and private—and cultural events launching as part of its Vision 2030 project, a sweeping plan for diversifying the nation’s economy to be less oil-production reliant. As of last year, projects associated with Vision 2030 have reached $1.3 trillion in value. Part of that plan has included expanding luxury retail as well as arts and culture infrastructure. Last year, Abu Dhabi’s sovereign wealth fund struck a $1 billion deal with Sotheby’s owner, Patrick Drahi, for a minority stake in the firm. Christie’s also recently announced that it is expanding its presence in the Middle East with an outpost in Riyadh, the capital of Saudi Arabia— this will be the house’s second location in the region, alongside its Dubai office, which opened in 2005. The Riyadh location will focus on Modern and contemporary Middle Eastern art, as well as jewelry and timepieces, the house said, aiming to draw the kingdom’s wealthy millennials; Saudi Arabia is one of the world’s youngest countries, with roughly 70 percent of the population under the age of 40.

• SFDA chief rules out plan to ban sale of cigarettes or vapes

  Saudi Arabia has no plan to ban the sale of traditional or electronic cigarettes, according to Dr. Hisham Al-Jadhey, CEO of the Saudi Food and Drug Authority (SFDA). His remarks came amid growing international discussions on tobacco regulations, with countries like Belgium opting for stricter measures, including bans on vaping products. Speaking on Rotana Khalejia’s program “Fi Al-Soura” on Monday, Dr. Al-Jadhey clarified that electronic cigarettes are subject to different regulations worldwide. He emphasized that e-cigarettes are not a safer alternative to traditional smoking, countering common misconceptions. Dr. Al-Jadhey highlighted the SFDA's overarching goal to encourage smokers to quit smoking entirely. “Our primary aim is to support smokers in transitioning away from tobacco use,” he said, while explaining that the authority works to ensure tobacco companies comply with established standards and regulations while actively monitoring potential violations.

• Reflecting on Davos 2025

  At NEOM House, we gave visitors an up close and personal look into our many diverse regions. We shone a light on three - Trojena, Oxagon, and THE LINE - with each embodying our vision for an innovative and sustainable future: In a compelling session, NEOM's Deputy CEO Rayan Fayez and Chief Development Officer Denis Hickey discussed how NEOM's vision is becoming a reality. They shared key developments about the progress of NEOM, which is currently the largest construction and civil engineering project in the world. Other key speakers from the NEOM leadership team included Vishal Wanchoo, Dr. Manar Al Moneef, and Majid Mufti; all of whom delivered insightful discussions that left attendees with a deeper understanding of NEOM and its vision

• Israel delays prisoner release after chaotic hostage handover
  Hamas handed over three Israelis and five Thai hostages in Gaza on Thursday, but Israel delayed the expected release of Palestinian prisoners after chaotic scenes at one of the handover points, where large crowds swarmed around the captives. Arbel Yehud, 29, abducted from Kibbutz Nir Oz in the Hamas-led assault on Israel on Oct. 7, 2023, looked fearful and struggled to walk through a surging crowd as armed militants handed her to the Red Cross in a tense scene in the southern city of Khan Younis. Another Israeli hostage, Gadi Moses, 80, was also released along with five Thai nationals working on Israeli farms near Gaza when the militants burst through the border fence, the Israeli military said. The mother of one of the Thais watched a livestream of the scene anxiously from her home in the northeastern Udon Thani province.

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