MUST-READS

• Kuwait’s sovereign wealth fund plans to open office in Saudi Arabia
  Al Mudhaf highlighted Saudi Arabia's increasing investment significance and its growing role in global economic decisions. This move follows a visit by a Saudi business delegation to Doha in May to promote investment in industry and mining, and the recent announcements by major investment banks, such as Edmond de Rothschild, about opening offices in Riyadh, according to Kuwait’s official news agency

• Saudi Arabia announces discovery of seven oil, gas deposits
  Saudi Arabia's energy minister announced on Monday the discovery of seven oil and gas deposits in the kingdom's Eastern Province and Empty Quarter, the official Saudi news agency SPA reported. Saudi Energy Minister Prince Abdulaziz bin Salman said state oil group Saudi Aramco had discovered "two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs", SPA said.

• Trump Tower is coming to Saudi Arabia

  The Trump Organization revealed plans Monday to develop a luxury Trump Tower in Saudi Arabia. The new tower will be built in Jeddah and developed in tandem with Dar Global, the international arm of Saudi mega-developer Dar Al Arkan. If completed, it appears the Jeddah tower would be the Trump Organization’s first major project in Saudi Arabia.

• Iran’s Presidential Hopefuls: Strongman, Surgeon, and Pen Pusher

  The presidency in Iran is to some extent what the president makes of it: While strongmen empower the institution, weak presidents reduce it into a largely ceremonial office. Therefore, who occupies the Office of the President in Tehran is significant.

• Saudi Arabia Records 231.7 Points in the UN Maritime Index

  This year has witnessed the continuation of the authority's efforts to develop infrastructure in the Kingdom's ports to enhance the competitiveness of ports at the regional and international levels, and to support and facilitate global trade. The development work of the Red Sea Gateway Terminal in the northern part of Jeddah Islamic Port has been completed, with investments amounting to SAR 1 billion. Mawani has also completed the deepening of the northwestern approach channel in the port with a length of 3,000 meters, a width of 300 meters, and a depth of 18.5 meters, which was previously 17 meters.

• flynas Launches Saudi Arabia’s First Program to Train Airline Cabin Crew in Sign Language

  The Saudi air carrier flynas has launched the first program of its kind in Saudi Arabia to train airline cabin crew in sign language. Implemented in collaboration with the Saudi Association for Hearing Impairment, this program underscores flynas' commitment to adopting sustainable initiatives that positively impact society.

• Who does Saudi Arabia play in 2026 FIFA World Cup qualifiers?

  Saudi Arabia learned its 2026 FIFA World Cup qualifying fate on Thursday as the Green Falcons were handed a tough third round group that includes fellow Asian heavyweights Australia and Japan. Roberto Mancini’ side, which labored to a second place finish behind Jordan in second-round qualifying, will need to improve if it is to claim a spot at the World Cup finals in the USA, Canada and Mexico in two years’ time.

• Saudi Reserves Jump to 18-Month High Thanks to Aramco Dividends

  Net foreign assets held by the kingdom’s central bank jumped 5% to $445 billion, or 1.67 trillion riyals, at the end of May, the highest since November 2022, according to figures released Sunday. That coincided with Aramco paying out more than $25 billion in dividends to the government the same month, up from about $18 billion a year earlier.

• Saudi Arabia ranks 3rd in remittance outflows globally in 2023: World Bank report

  Saudi Arabia ranked third globally and second in the Arab world in terms of countries sending international remittances during the year 2023. Total outward remittances amounted to nearly SR 144 billion ($38.4 billion) during the last year.  Foreign remittance is the money that immigrants send directly to their families or communities in their country of origin in the world.  According to a recent report by the World Bank titled “Migration and Development Brief,” the United States of America topped among the world countries sending international remittances, with total external remittance flows reaching about $85.8 billion during the year 2023.  The United Arab Emirates came in second place globally and first in the Arab world, with total remittances amounting to about $38.5 billion, while Kuwait ranked tenth globally and third in the Arab world.

• Saudi Arabia Launches Geographical Survey Project with 1,200 Solar and Wind Stations

  In a landmark initiative spearheaded by His Royal Highness, Prince AbdulAziz bin Salman bin AbdulAziz Al Saud, Saudi Arabia has launched a pioneering Geographic Survey Project for Renewable Energy sites. This ambitious endeavor, part of the National Renewable Energy Program, involves the installation of 1,200 stations across the Kingdom to assess solar and wind energy potential over 850,000 square kilometers. The scale of this project is unprecedented globally, covering regions equivalent to the combined areas of major European nations like the UK and France or Germany and Spain.

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