MUST-READS

• Aramco’s Flagship Jafurah Gas Project is Not A Gamechanger for Saudi Arabia

  Operations at Saudi Arabia’s Jafurah shale gas field – the country’s largest unconventional non-oil associated gas site and arguably one of the biggest outside the U.S. – will begin this year, according to a comment last week from Saudi Aramco’s president and chief executive officer, Amin Nasser. The oil and gas giant added that Phase 1 is expected to produce 200 million standard cubic feet per day (Mscfd) of gas this year, with the figure set to rise to 2 billion standard cubic feet per day (Scfd) by 2030. The projected numbers would mark around a 60% increase in Aramco’s gas output capacity, enabling it to meet rising domestic power demand. It could also allow it to reduce the level of crude oil burned in power generation that might be monetised by exporting it, and lay the foundations for significant gas exports in the future as well. The key question for dedicated Saudi Arabia watchers arising from any such statement from the Kingdom over the years is simply how much of it is true?

• Ramadan fasting hours in Saudi Arabia: how they change each year
  As Ramadan progresses through the seasons, fasting hours in Saudi Arabia are gradually shortening each year. This trend will continue until 1454 AH (2032), when Ramadan will fall in December, the month with the shortest daylight hours, according to Dr. Abdullah Al Misnad, former climate professor at Qassim University. This year, fasting hours are relatively uniform across the Kingdom due to Ramadan coinciding with the spring equinox on March 20, when the sun aligns directly over the equator, resulting in nearly equal day and night lengths. On the first day of Ramadan, the longest fasting hours were in Ahad Al Masarihah (13 hours, 4 minutes), while Al Qurayyat recorded the shortest (12 hours, 54 minutes). By mid-month, Arar in the north will have the longest fast (13 hours, 19 minutes), while Sabya in the south will have the shortest (12 hours, 15 minutes).

• Saudi stock exchange expects to have a record year of listings in 2025, CEO says

  More than 50 applications are currently under review by the regulator and the exchange, Al-Rumaih said, adding that around 100 applications are with advisors waiting to be submitted to the regulator. Fifteen IPO applications have been approved, Al-Rumaih said, speaking on the sidelines of the Capital Markets Forum in Riyadh. Saudi Arabia’s bourse is the Gulf Arab region’s largest, with average traded value of over $1 billion. The market opened up to foreign investors in 2015. A run of IPOs in the Gulf is due partly to local governments’ economic diversification strategies and listings by private groups and family businesses.

• GCC exchanges sees record number of IPOs in FY24 with 53 listings across the region

  UAE IPOs have represented nearly half of total GCC IPO proceeds in 2024, as they have accounted for 47% ($6.2bn) of total proceeds this year, including two major IPOs in Q4: Food delivery business,Talabat, which raised $2.0bn with its DFM listing and GCC retailer, Lulu, raised $1.7bn with its ADX listing. Furthermore, Tadawul listings have been highlighted as accounting for 30% ($4.0bn) of all GCC proceeds. 2024 saw $9.7bn of proceeds from bond issuance and $25.9bn from sukuks with 55% of bonds and Sukuks issued by GCC governments. 26 IPOs completed in the last quarter of 2024 including 20 in the Kingdom of Saudi Arabia.

• WhatsApp calls reportedly activated in Saudi Arabia: Permanent change or temporary test?
  Many WhatsApp users in Saudi Arabia reported on Saturday that voice and video calling features had been activated after years of restrictions. However, there has been no official confirmation on whether this is a permanent change or a temporary test. The sudden activation has raised questions, particularly in the absence of an announcement from authorities. Technology expert Abdullah Al Subaie noted that this move aligns with Saudi Arabia’s efforts to enhance telecommunications and digital infrastructure, potentially improving communication for users.

• PwC: GCC CEOs Embrace Optimism and Reinvention Amid Disruptive Change

  A recent survey by PwC revealed that CEOs in the GCC, including Oman, are among the most optimistic globally about revenue growth in 2025. Despite their confidence, regional leaders are acutely aware of the challenges posed by AI, climate concerns, and intensifying competition as industries evolve and boundaries blur. PwC Middle East Senior Partner Hani Ashkar commented that the Middle East’s optimism reflects its ability to adapt and innovate amid global challenges. He noted that regional CEOs are implementing bold strategies to drive growth, enhance competitiveness, embrace sustainability, and integrate AI, which collectively strengthen the region’s position as a dynamic business hub.

• Careem Pay launches fee-free remittance service, undercuts traditional exchanges
  Careem has launched a new remittance feature through Careem Pay that offers zero-fee international transfers and better-than-market exchange rates, challenging traditional exchange houses in the UAE’s remittance market. The move comes as conventional exchange houses increased their fees by 15 per cent last year, according to the company. The new service, which primarily benefits Careem Plus members, enables customers to save up to AED 400 per transaction when sending money abroad.

• A catalyst for change

  There with us was a team from the General Organization for Conservation of Coral Reefs and Turtles in the Red Sea, known simply as SHAMS. This pioneering group is at the forefront of coral and turtle conservation in a country just beginning to chart its path in this critical line of work. The SHAMS crew brought together experts from all corners of the globe, including a team of Saudi locals, each with years of experience in coral and turtle restoration, conservation, and ecosystem management. Their collective stories of where they’d been and what they’d encountered made certain that every meal was brimming with tales of challenges and triumphs. What struck us most, though, was the contrast between Saudi Arabia’s reputation and the reality of what we were experiencing firsthand.

• Saudi Arabia announces major labour rule change

  Saudi Arabia’s domestic labour sector, the largest in the Middle East with 3.74 million domestic workers, is undergoing significant reforms to enhance recruitment and safeguard workers’ rights. Launched in February 2024 through the Musaned platform, the insurance covering domestic labour contracts is a key development. It ensures that both employers and domestic workers are granted their due rights, such as salary and compensation for unforeseen circumstances. The insurance is mandatory for the first two years of employment and optional thereafter. This insurance provides compensation for domestic workers in cases of permanent disability due to accidents and safeguards their financial rights if employers default on payments.

• Rock art in Saudi Arabia’s Harrat is testament to ancient life, cultural exchange

  The Harrat region, south of Tabuk, is a treasure trove of ancient history, boasting a remarkable collection of rock art that provides a fascinating glimpse into past civilizations, according to the Saudi Press Agency report. The rugged volcanic landscape served as a canvas for ancient inhabitants, who expressed their beliefs, experiences, and social interactions through intricate engravings and paintings. Depictions of hunting scenes, made using simple tools, offer a window into the daily lives of the early inhabitants of these areas, the SPA report noted. Rock art also provides a record of the fauna that once lived in the region, including oryx, gazelles, and even tigers.

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