MUST-READS

• Rubio says talks in Saudi Arabia meant to be opening step toward peace

  Secretary of State Marco Rubio emphasized the importance of building trust and opening communication with Russia as he and other top Trump administration officials head to Saudi Arabia for talks on ending the war between Russia and Ukraine. “One phone call does not make peace,” Rubio said on CBS’ “Face the Nation” on Sunday. “One phone call does not solve a war as complex as this one, but I can tell you that Donald Trump is the only leader in the world that could potentially begin that process.”

• Joint Statement by Saudi Finance Minister and IMF Managing Director on Supporting Recovery in the Middle East’s Conflict-Affected Economies

  On the sidelines of the inaugural annual global AlUla Conference for Emerging Market Economies in Al Ula, Saudi Arabia (February 16-17), Saudi Arabia's Finance Ministry and the International Monetary Fund (IMF) co-hosted a high-level roundtable on "Working Together to Support Recovery in the Middle East's Conflict-Affected Economies", with a focus on Syria,  bringing together finance ministers of countries in the region, the Minister of Foreign Affairs of Syria, the Managing Director of Operations at the World Bank Group and heads of other International Financial Institutions and the Arab Coordination Group.

• Zelensky warns Ukraine won’t accept decisions made without them in peace talks

  Ukrainian President Volodymyr Zelensky said in a "Meet the Press" interview aired Sunday that he would "never accept" decisions made by the U.S. and Russia about Ukraine's future, even as the two nations appear poised to engage in peace talks this week. President Trump's Middle East envoy, Steve Witkoff, confirmed Sunday on Fox News' "Sunday Morning Futures" that he and National Security Adviser Michael Waltz will travel to Saudi Arabia to "hopefully make some really good progress" on the Russia-Ukraine peace process.

  • BBC - US advisers head to Saudi Arabia for talks with Russia - without Ukraine
• Announced at LEAP 2025: The Next Step for Saudi Arabia Financial Innovation

  The five-day event saw experts from across the financial market come together to discuss and learn about AI-driven financial services, investment platforms, strategic partnerships, fraud prevention and more. With attendees getting a greater understanding of what firms are doing to help achieve the Kingdom’s Vision 2030 goal, we wanted to share some of the biggest announcements made at LEAP 2025.

• Ceer supercharges Saudi EV industry with $1.4bn in deals, gearing up for 2026 launch

  Saudi Arabia’s first homegrown electric vehicle brand, Ceer, signed 11 deals worth SR5.5 billion ($1.4 billion) at a Public Investment Fund event ahead of its model launch in 2026. More than 80 percent of these agreements involve Saudi companies, reinforcing Ceer’s commitment to its 45 percent localization target and advancing the Kingdom’s Vision 2030’s economic diversification goals. Among the key memorandums of understanding signed at the PIF Private Sector Forum are agreements related to heating and air conditioning, portable EV chargers and various manufacturing aspects, such as plastic injection parts. DeLuca highlighted that Ceer is the only company in Saudi Arabia managing the entire process — from designing and engineering to manufacturing, selling, and servicing a portfolio of battery electric vehicles.

• Spending pushes Saudi fiscal deficit to $31bn in 2024

  Saudi Arabia’s fiscal deficit reached SAR116 billion ($31 billion) in 2024, driven by a 6 percent rise in expenditure, according to the ministry of finance. The deficit was in line with revised predictions made in September but roughly 50 percent higher than the SAR79 billion ($21 billion) projected at the start of the fiscal year. Increased expenditure comes at a time of high spending across the kingdom on infrastructure giga-projects in support of Saudi Vision 2030 diversification targets. The economy minister, Faisal Alibrahim, speaking at an event in Riyadh on Thursday, said that infrastructure investments are expected to reach $1 trillion by 2030. Oil revenues rose marginally to SAR757 billion last year, while non-oil revenues rose 10 percent year on year to SAR502 billion, the ministry said.

• Saudi private school in Herndon to shut down, surprising families

  The current school year will be the last official one for King Abdullah Academy. After close to a decade in the Herndon area, the Islamic private school announced in late January that it will close for good after the 2024-2025 academic year, citing challenges with identifying a “viable financial path to self-sustainability.” Funded by Saudi Arabia’s government, King Abdullah Academy launched in August 2016 after relocating to its current 40-acre campus at 2949 Education Drive east of Dulles International Airport. The school was previously known as the Islamic Saudi Academy and operated out of the original Mount Vernon High School from 1985 until its Herndon move. The academy’s departure opened the door for Fairfax County to redevelop the Mount Vernon site (8333 Richmond Highway), a project that began construction last fall.

• Rethinking Business Expansion: What GCC Companies Can Learn from Saudi Arabia

  Many GCC economies still rely heavily on hydrocarbon revenues. Saudi Arabia’s success in diversifying into tourism (e.g., NEOM, Red Sea Project), entertainment, and financial services highlights the importance of expanding into high-growth sectors. GCC companies can adopt a similar approach by investing in industries with strong long-term growth potential, developing capabilities in emerging sectors such as green energy, logistics, and fintech, and encouraging intra-regional trade to create interconnected markets. Saudi Arabia has streamlined its business regulations to create a more investor-friendly environment. The introduction of the Saudi Green Card (Premium Residency) and relaxed foreign ownership laws have made the Kingdom more attractive to international firms. Other GCC nations can enhance their appeal by reducing bureaucratic barriers to entry for foreign businesses, implementing policies that promote transparency and efficiency, and enhancing legal frameworks to support corporate governance and investment security.

• Commentary: Saudi Arabia’s political messages in response to Netanyahu

  Notably, Riyadh is spearheading ongoing efforts by leading the Global Alliance for the Implementation of the Two-State Solution, as announced by Foreign Minister Prince Faisal bin Farhan at the UN General Assembly last September. This initiative is in collaboration with Arab and Islamic countries, as well as the EU and Norway. The objective is to develop a “practical plan to achieve shared goals for the desired peace,” as stated by Prince Faisal, who affirmed that “we will exert our utmost efforts to establish a reliable and irreversible path toward a just and comprehensive peace.”

• Al-Falih: Nearly 600 global companies choose Saudi Arabia as regional headquarters

  Minister of Investment Eng. Khalid Al-Falih announced that the number of global companies establishing their regional headquarters in Saudi Arabia has risen to nearly 600. Al-Falih announced this while attending a panel discussion titled “Ministerial perspective on the role of the government to enable the private sector,” held as part of the third edition of the PIF Private Sector Forum in Riyadh on Wednesday. The minister noted that the number of registered investment licenses surged from 4,000 in 2018 and 2019 to 40,000 currently, while total investments have doubled to SR1.2 trillion, accounting for 30 percent of the Saudi economy. "Seventy-two percent of investments came from the private sector, while the Public Investment Fund's (PIF) portfolio and companies account for only 13 percent. This underscores Saudi Arabia's position as a strong global investment destination, thanks to its attractive economic environment and diverse investment opportunities across various sectors,” he said.

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