MUST-READS

• TotalEnergies, Aljomaih Secure 300-MW Solar Project in Saudi Arabia

  TotalEnergies SE TTE, Saudi developer Aljomaih Energy and Water Company have signed a 25-year power purchase agreement (PPA) with the Saudi Power Procurement Company related to the 300 megawatt (MW) solar power project, Rabigh 2. This renewable project is a new milestone for TotalEnergies in Saudi Arabia where TotalEnergies is currently building the 119 MW Wadi Al Dawasir solar power plant, which will start operations in early 2025.

• ‘Marvels of Saudi Orchestra’ Stuns Tokyo Audiences With Authentic Celebration of Saudi & Japanese Music

  The Saudi National Orchestra and Choir held a performance of the “Marvels of Saudi Orchestra” in Tokyo on November 22 at the Tokyo Opera City Concert Hall: Takemitsu Memorial. The Saudi National Orchestra and Choir was formed in 2019 and began its “Marvels of Saudi Orchestra” world tour to share Saudi Arabian musical culture with the world. The Tokyo concert was its fifth, following performances in Paris, Mexico City, New York, and London. The concert presented a fusion of the two countries, with performances of traditional Saudi Arabian and Japanese music by the Saudi National Orchestra and Choir, the Orchestra Academy of Tokyo College of Music, and special guest, guitarist Tomoyasu Hotei. The audience was enthralled by the sounds of the traditional Arabic instruments, which there are few opportunities to hear in Japan, and the unique melodies they played.

• Syrian rebels enter Hama, pushing army from key city
  Syrian rebels ousted pro-government forces from Hama on Thursday, bringing the insurgents a major new victory after a lightning advance across northern Syria and dealing a new blow to President Bashar al-Assad and his Russian and Iranian allies. The Syrian army said it was redeploying outside the city "to preserve civilians lives and prevent urban combat" after what it called intense clashes. Rebels said they had taken districts in the city's northeast and had seized the central prison, freeing detainees.

• GCC sukuk’s best-kept secret: Dublin

  For many people, the city of Guinness and James Joyce may not be the first place that comes to mind when thinking about Islamic bonds. Yet, according to a report last month from Fitch Ratings, the Dublin stock exchange – Euronext Dublin – is now the world’s largest listing venue for hard currency global sukuk. The Irish capital covered 38 percent of the global total of this kind of Islamic bond at the end of this year’s third quarter – outstripping its two main rivals, the London Stock Exchange (LSE) and Nasdaq Dubai. “A large chunk of this comes from the Gulf Cooperation Council countries, too,” Bashar Al-Natoor, managing director and global head of Fitch Rating’s Islamic Finance Group, tells AGBI. “The GCC is the biggest domicile for issuers.”

• Arab funds pledge $10bn to fight desertification

  The Arab Coordination Group, an alliance of 10 development funds, is to provide $10 billion by 2030 to combat land degradation, desertification and drought, it was announced on the second day of the United Nations Convention to Combat Desertification event in Riyadh.  The commitment brings the total pledged to these interrelated causes at the two-week UN summit to more than $12 billion. The Riyadh Global Drought Resilience Partnership, launched on the first day of the event, received pledges of $1 billion each from the Opec Fund and Islamic Development Bank. Saudi Arabia provided $150 million to kickstart the initiative, which is aimed at helping 80 vulnerable countries enhance their resilience to drought.

• Generation Amazing Foundation and Saudi Sports for All Federation Strengthen Capacity-Building with Sports for Development Training

  The Generation Amazing Foundation (GA), in partnership with the Saudi Sports for All Federation (SFA), successfully conducted a sports for development training program in Jeddah, designed to be implemented at Neighborhood Clubs across the Kingdom. This specialised training marks a significant milestone in the partnership announced last spring, aiming to integrate the values of sports and development into education and community life. The training equips coaches with the tools and skills to deliver specialized football sessions that enhance life skills and install community values, promoting a healthier, more active society. by training Neighbourhood Clubs master trainers to train all 90 trainers. Led by GA Master Coach Hamad Abdulaziz, the program follows a Training of Trainers (ToT) model. Coaches first completed eight modules on GA's e-learning platform before attending a four-day in-person session for 30 participants, including 30 Neighborhood Club coaches who will return to their cities to train volunteers and other trainers.

• Macron: France, Saudi Arabia will co-chair conference on creating Palestinian state

  French President Emmanuel Macron announced on Tuesday that he and Saudi Arabia’s Crown Prince Mohammed bin Salman would co-chair a conference on the establishment of a Palestinian state in June. “We have decided to co-chair a conference for the two states in June next year,” Macron said, referring to Israel and a potential Palestinian state. “In the coming months, together we will multiply and combine our diplomatic initiatives to bring everyone along this path,” he added. Responding to a question on whether France would recognize a Palestinian state, the French president said he would do so “at the right moment” and at a time “when it triggers reciprocal movements of recognition.”

• Saudi energy minister sees net zero as scenario that ‘can never happen’
  The minister said at the Saudi Green Initiative Forum in Riyadh that the world is currently going through a "reality check" on net zero and energy security. Saudi Arabia, the world's largest crude exporter, has repeatedly pushed back on predictions that fossil fuel demand will peak, including the International Energy Agency's forecast that this will occur by the end of the decade. "I was alone in June 2021 when I talked about net zero scenario as being a La La Land scenario... It will take us another couple of years, three years, to see people reconfiguring thinking between a reality check and the imagined thing that never happened and can never happen," he said. Aramco CEO Amin Nasser said that policy makers need to be realistic. "I think the unrealistic views you know, when you look at the transition and policy makers, they would always like to achieve a speedy transition, they put [out] certain mandates," Nasser said. "But mandates or policies will not take care of the economics."

• Saudi Arabia’s network of spending and influence detailed before getting 2034 World Cup from FIFA

  More Saudi commercial deals are expected after the 2034 World Cup decision, either for the 2026 edition being played in North America or the revamped Club World Cup being staged by the United States next year. “It’s very complex — there’s lots of interlinked parts,” Dan Plumley, sports finance expert at Sheffield Hallam University, told The Associated Press in a telephone interview on Monday. “We are living in a utopia if we think that sport and politics can be separated in the modern world because that’s impossible,” Plumley said. “There is always power, influence and money, which ultimately dictates the direction of travel.”

• Macron announces France-Saudi partnership to co-host conference on creating Palestinian state

  French President Emmanuel Macron announced on Tuesday, December 3, that he and Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, would co-chair a conference on the establishment of a Palestinian state in June. "We have decided to co-chair a conference for the two states in June next year," Macron said, referring to Israel and a potential Palestinian state. "In the coming months, together we will multiply and combine our diplomatic initiatives to bring everyone along this path," he added.

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