MUST-READS

• Sabalenka praises WTA’s new mission, welcomes Saudi investment

  World number one Aryna Sabalenka praised on Friday the WTA's mission to highlight the personalities of its athletes and called Saudi Arabia's investment in the women's tennis tour an important part of growing the game. The WTA rebranding, complete with a new logo and "Rally the world" tagline, comes amid a rise in global viewership and a record $4.8 million prize awarded last year to Coco Gauff for winning the WTA Finals in Riyadh, a tournament sponsored by Saudi's Public Investment Fund (PIF).

• Saudi Arabia’s Port of Neom expanding to be one of world’s largest

  It's expected to handle 12 million TEUs (twenty-foot equivalent units) when completed. For reference, the Port of Los Angeles, known as America's Port, is the busiest container port in the US, handling just over 9 TEUs annually. To make this happen, the port's access channels have been dredged using a zero-discharge dredging technique to minimize environmental impact. Rather than simply dredging the sea floor and dumping the soil back into the ocean elsewhere, all materials are reused for land reclamation or infrastructure projects. When the project began, the access channel was roughly 590 ft (180 m) wide and 39-46 ft (12-14 m) deep. Today, the channel is 1,805 ft (550 m) wide and 62 ft (19 m) deep, allowing for more and larger vessel access.

• 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).

• 77% of Saudi businessmen expect economy to grow in next 12 months: PwC survey

  PwC Middle East's 28th Annual CEO Survey showed that 77% of business leaders in Saudi Arabia expect the local economy to grow over the next 12 months, outpacing their peers in the GCC (71%), the Middle East (64%), and the world (57%). The Kingdom continues to implement its ambitious plans under Vision 2030, strengthening the investment climate and making it the top destination for regional investments. Non-oil revenue growth increased by 4.9% in the second half of 2024, recording the highest growth rate to date, the report said. Economic risks for business leaders are changing, as inflation stabilized at 2% by the end of 2024 from its peak of 3.4% in January 2023. However, cybersecurity risks rose to 49%, compared to 20% a year earlier.

• Aramco dividend vital to big-spending Saudi Arabia

  Saudi Aramco’s 2024 full-year results due this week are likely to again underline the importance of the world’s largest listed oil company to big-spending Saudi Arabia’s economic development plans. Aramco has said it expects to announce fourth-quarter dividends – payouts to the Saudi government are a core source of state revenue – of SAR116.5 billion ($31.1 billion), the same payout as the preceding three quarters. That would boost its total dividends for 2024 to SAR466 billion ($124.3 billion) and equate to 34 percent of the SAR1.37 trillion of state spending last year, according to AGBI calculations. The kingdom’s annual deficit was SAR115.6 billion. Aramco introduced an additional “performance-linked” dividend in 2023, which boosted payouts significantly; assuming fourth-quarter net profit is in line with that of the first nine months of 2024, Aramco’s dividend-to-profit ratio would be 110 percent. Or, put more simply, Aramco will pay more in dividends than it made in profit. Why the increased windfalls for deteriorating performance? The government, which owns 81.5 percent of Aramco, needs the money. Likewise, the state-owned Public Investment Fund, which also holds a 16 percent stake and is a lead protagonist in the country’s economic diversification programme.

• Saudi Arabia Introduces Seventy E-Gates at Jeddah Airport to Speed Up Travel

  Saudi Arabia has taken another major step in modernizing its aviation sector with the launch of seventy AI-powered e-gates at King Abdulaziz International Airport (JED) in Jeddah. The new system, inaugurated by Deputy Emir of the Mecca Region, Prince Saud bin Mishaal, is set to enhance travel efficiency, improve security, and reduce wait times for 175,000 passengers daily. Jeddah’s King Abdulaziz International Airport follows King Khalid International Airport (Riyadh) and Neom Bay Airport in adopting AI-powered e-gates, reinforcing Saudi Arabia’s commitment to smart airport solutions.

• Saudi Arabia arrests 131 in major anti-corruption crackdown
  Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) has launched a sweeping crackdown on corruption, arresting 131 individuals and investigating 370 others as part of its latest enforcement efforts. In a statement released on Friday, the authority said it conducted 3,466 oversight visits across various government entities in February, uncovering cases of bribery, abuse of authority, and other violations. Some of those arrested were later released on bail.

• Absher carries out 26 million e-transactions in January

  The number of transactions carried out through the Absher Individuals platform has reached 23,319,656, and these include 16,667,488 document review transactions through the digital wallet available to citizens, residents and visitors via the Absher application. The number of transactions on the Absher Business platform stood at 2,981,416. The number of transactions undertaken for Public Security services reached 3,373,708, including 3,271,007 transactions in the traffic sector, while the number of transactions executed in passports reached 2,630,819 whereas 488,881 transactions executed in the Civil Status sector.

• Saudi banks banned from using WhatsApp for their communications with customers

  The Saudi Central Bank (SAMA) has decided to ban the use of instant messaging applications such as WhatsApp by the local banks for their communications with customers. SAMA noted that these applications are unreliable channels, according to Asharq Al-Awsat newspaper. SAMA's decision is based on the powers assigned to it and other related regulations, and out of its keenness to enhance the quality of practices and procedures followed by financial institutions subject to its supervision, in a way bringing the risks to the minimum. It is learnt that the Central Bank has asked financial institutions to examine the availability of alternative and secure channels such as benefiting from activating instant messaging services such as Live Chat or ChatBot, within the application, or the financial institution's website, taking into account compliance with the requirements for protecting personal data.

• Former Saudi ambassador weighs in on Trump’s approach to Gaza and the Middle East: Video
  Israel is blocking humanitarian aid from reaching Gaza until Hamas agrees to a proposal to extend phase one of the ceasefire, which expired Saturday. John Yang speaks with Prince Turki Al-Faisal, a former Saudi ambassador to the U.S. and U.K., about the latest developments and the Trump administration’s involvement in Gaza.

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