MUST-READS

• Saudi Arabia poised to lead in AI, aims for double returns: PIF Governor

  Al-Rumayyan said that the fund worked to develop the Saudi economy by establishing 103 diverse companies operating in 13 different sectors, both locally and internationally. Since its 2017 strategy launch, the fund has generated over 1.1 million direct and indirect jobs globally, prioritizing quality over quantity of jobs, to promote sustainable development.  He went on to say that the PIF invests heavily in new projects, injecting between $40 and $50 billion annually. This substantial investment demonstrates the fund's dedication to economic diversification.

• Saudi Arabia Fashion Market Report 2025: Cultural Shifts, Changing Attitudes, & Rise of Modest Fashion Influence on the $5.7 Billion Industry

  The Saudi Arabia Fashion Market was valued at USD 4.25 Billion in 2024, and is expected to reach USD 5.70 Billion by 2030, rising at a CAGR of 5.07%. The Saudi Arabian fashion market is witnessing significant growth, fueled by changing consumer preferences and a younger, fashion-conscious population. As the country diversifies its economy through Vision 2030, fashion and retail sectors have become pivotal to its development. International brands are increasingly entering the market, while local designers are gaining recognition. E-commerce is rapidly expanding, offering consumers more convenience and a broader range of choices.

• Saudi Cup was a race for the ages, highlight of weekend global racing

  There haven't been and won't be many races like Saturday's $20 million Grade I Saudi Cup. And that was only the pinnacle of a solid weekend global schedule stretching from the Middle East to Hong Kong, Australia, Japan and Dubai. But my oh my! That Saudi Cup. The dictionary definition of "horse racing" could be illustrated with the photo finish of the 2025 Saudi Cup. Two of the world's best horses hooked up at King Abdulaziz Racecourse in Riyadh and the only shame was one had to lose. Japan's top dirt horse, Forever Young, prevailed by a neck over Hong Kong's world-record money earner, Romantic Warrior -- but only after the two swapped leads while leaving their other rivals far behind.

• Inside Saudi Arabia’s THE LINE: First look reveals the NEOM city rising from desert

  In an exclusive first-ever media tour of Saudi Arabia’s ambitious THE LINE project, Al Arabiya English witnessed firsthand the massive construction underway at one of the world’s most revolutionary urban developments. It’s at the heart of the NEOM project – backed by the Kingdom’s Public Investment Fund (PIF) – where senior officials addressed speculation about scaling back the project, emphasizing that it remains on track. At the Phase 1 construction site – due for completion by 2034 – there is a hive of activity – and noise – as hundreds of cranes and about a 10,000-strong workforce – including thousands of construction workers – lay the groundwork for what will eventually become a 170-kilometer linear city. The scene marks the first tangible evidence of Saudi Arabia’s ambitious vision taking shape. To date, more than 130 million cubic meters of soil have been moved – enough to fill New York’s Central Park to a depth of 30 meters. At peak activity, the site has utilized up to 4,000 trucks and more than 500 excavators working simultaneously.]

• Tax Considerations for Individuals and Investors Based in Saudi Arabia

  Saudi Arabia offers a tax-friendly environment with no personal income tax, inheritance tax, or wealth tax for individuals. Key taxes applicable to individuals include VAT, social insurance contributions, and Zakat, while various wealth management structures, including trusts and investment companies, offer tax advantages. One of the key advantages of Saudi Arabia’s tax system for private clients is the complete absence of capital gains tax on individuals. Whether derived from the sale of stocks, real estate, or other investments, individuals are not subject to taxation on their capital gains. This policy makes Saudi Arabia an attractive jurisdiction for investors, as it allows for tax-free accumulation of wealth through asset appreciation.

• Hegseth Welcomes Saudi Defense Minister to Pentagon, Underscores Partnership

  Defense Secretary Pete Hegseth today highlighted the importance of the partnership between the U.S. and Saudi Arabia while hosting that country's defense minister during a bilateral engagement at the Pentagon. Referencing the cooperation that took place between the countries during Trump's first administration, Hegseth pointed out that both nations worked together to pursue security and stability in the Middle East, as well as to combat terrorism in the region and increase mutual prosperity. "Today, our relationship is a critical center of gravity in a very turbulent world," he added.  Stating that ending the war in Ukraine is one of the president's top priorities, Hegseth said he wanted to thank the Saudi Kingdom for hosting conversations between top U.S. and Russian officials in Riyadh, Feb. 18, 2025.  "And I also want to continue deepening and strengthening our partnership to pursue security and prosperity for both Americans and Saudis. So, I'm very much looking forward to a great discussion," Hegseth said.

• Saudi Arabia’s new family law: Key marriage, custody and privacy reforms explained

  The 41-article regulation, which took effect on Friday, marks a significant step in the kingdom’s ongoing legal reforms, reinforcing women’s rights, marital laws, and child custody provisions in line with broader judicial modernisation efforts. Under the new rules, unapproved marriage contracts will now be subject to a structured review, led by the Minister of Justice and other authorities. The ministry has also been granted authority to introduce additional regulations as needed based on evolving judicial applications. The Personal Status Law is one of four key legal frameworks announced by the Crown Prince in February 2021, alongside the Civil Transactions Law, Penal Code for Discretionary Sanctions, and Law of Evidence. Together, these reforms enhance judicial transparency, expand individual rights, and bring Saudi Arabia's legal system closer to international standards.

• Will Europe’s ‘green agenda’ push away Qatari gas?

  The European Union continues to strive to reduce its dependence on Russian natural gas by significantly increasing its purchases of liquified natural gas (LNG) from the US and other countries. However, the successful implementation of this plan might push EU member states to be more cautious and nuanced in implementing the European “green agenda” to avoid tensions with potential suppliers. Blunt statements by Qatar Energy Minister and head of QatarEnergy (QE) Saad Al-Kaabi late last year sparked a wave of controversy among market observers, which continues to resonate. Kaabi expressed unequivocally that he would rather shun the European LNG market if new environmental legislation is strictly applied to QE, as the energy giant would lose substantial revenues.

• West Bank Palestinians fear Gaza-style clearance as Israel squeezes Jenin camp
  Israeli bulldozers have demolished large areas of the now virtually empty Jenin refugee camp and appear to be carving wide roadways through its once-crowded warren of alleyways, echoing tactics already employed in Gaza as troops prepare for a long-term stay. At least 40,000 Palestinians have left their homes in Jenin and the nearby city of Tulkarm in the northern West Bank since Israel began its operation just a day after reaching a ceasefire agreement in Gaza after 15 months of war. "Jenin is a repeat of what happened in Jabalia," said Basheer Matahen, spokesperson for the Jenin municipality, referring to the refugee camp in northern Gaza that was cleared out by the Israeli army after weeks of bitter fighting. "The camp has become uninhabitable."

• National dialogue a ‘historic opportunity’ for Syria, interim president says
  Syria's interim president said on Tuesday his country had a "historic opportunity" to rebuild, addressing a national dialogue summit billed by Syria's Islamist rulers as a key milestone after decades of Assad-family rule. Hundreds of Syrians gathered at the presidential palace in Damascus for the one-day event, arriving on a red carpet previously reserved for the few foreign dignitaries visiting former president Bashar al-Assad until he was toppled last year by a rebel offensive spearheaded by Hayat Tahrir al-Sham (HTS). The group's head, Ahmed al-Sharaa, was named by military rebel commanders as the country's interim president last month and he swiftly pledged to hold a national dialogue to discuss the country's future. "Syria liberated itself on its own, and it suits it to build itself on its own," he said in his opening address on Tuesday. "What we are living today is an exceptional, historic and rare opportunity. We must take advantage of every moment of it to serve the interests of our people and our country," he said.

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