MUST-READS

• DHL eCommerce enters Saudi Arabian market by acquiring equity stake in parcel logistics company AJEX

  DHL eCommerce and AJEX Logistics Services, have entered into an agreement in which DHL will acquire a minority stake in the Saudi Arabian parcel logistics company. For DHL eCommerce, whose core business is domestic parcel transport in selected European countries, the United States, and certain key Asian countries, this agreement represents an expansion into the rapidly growing Saudi Arabian e-commerce parcel market. Although AJEX only began its operations in 2021, it has already established itself as a leading parcel service provider in the rapidly evolving domestic market, with robust growth and an extensive distribution network.

• Saudi Arabia amends labor law, extends maternity leave

  announced new amendments to its labor law, including implementing a longer maternity leave period. The new amendments, which came into effect on Thursday, allow female employees to take up to 12 weeks of maternity leave. Six weeks are mandatory after delivery, and the remaining six can be taken at their discretion, according to the ministry. Another update provision allows employees to have three days of leave upon the death of a sibling. Moreover, employers may now offer days off as compensation for overtime, subject to the employee’s consent. Termination notice periods for indefinite contracts have also been updates and now state that employees must provide at least 30 days’ notice, while employers must give 60 days’ notice. The probation period has also been standardized at 180 days, allowing either party to terminate the contract during this period.

• Frankly Speaking: How did Saudis become mediators for global conflicts?

  Appearing on the Arab News current affairs program “Frankly Speaking,” Dr. Abdulaziz Sager, founder and chairman of the Gulf Research Center, highlighted the significance of the US-Russia talks in Riyadh, noting that Saudi Arabia’s neutral stance had positioned it as an ideal convener. “Saudi Arabia has taken an important position that has led to this meeting, which means Saudi Arabia originally refused to take a side — neither with the Russians nor with the Ukrainians,” Sager said. Global media outlets have highlighted Saudi Arabia’s unique positioning, noting that it has maintained positive ties with both Russia and the West throughout the Ukraine conflict, which began on Feb. 24, 2022, when Russia launched what it called a “special military operation.”

• Kingdom of Saudi Arabia confirms US$ 500 million commitment to global polio eradication effort

  The Kingdom of Saudi Arabia today reaffirmed its US$ 500 million pledge to the Global Polio Eradication Initiative (GPEI) in a signing event during the fourth Riyadh International Humanitarian Forum. H.E. Dr. Abdullah al Rabeeah, Supervisor General of King Salman Relief and Humanitarian Centre, was joined by Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization; Catherine Russell, Executive Director of UNICEF; Dr. Sania Nishtar, CEO of Gavi, the Vaccine Alliance; Dr. Chris Elias, President of Global Development at the Gates Foundation and Chair of the Polio Oversight Board; and Aziz Memon, Pakistan Polio Plus Chair, Rotary International, to sign an agreement that will help the GPEI and its partners to reach 370 million children with polio vaccines each year and stop transmission of the virus for good. The funds were initially pledged in April 2024 at the first-ever World Economic Forum Special Meeting hosted in Riyadh.

• Saudi FM meets with counterparts on sidelines of G20 meeting in Johannesburg

  Saudi Foreign Minister Prince Faisal bin Farhan met with his counterparts from the UK, China, Australia, and France separately in Johannesburg on Thursday. On the sidelines of a meeting of G20 foreign ministers held for the first time in Africa, Prince Faisal discussed regional and international developments with British Foreign Secretary David Lammy. With Chinese Foreign Minister Wang Yi, Prince Faisal discussed intensifying coordination on issues of common interest.

• Miami Chosen by Saudi Arabia for Second USA Investment Office

  Saudi Arabia will open an investment office in Miami, after the kingdom’s de-facto ruler pledged to boost US investment. In addition to US investments, Saudi Arabia will use Miami as a “gateway” to South America, Minister of Investment Khalid Bin Abdulaziz Al-Falih said Thursday at the Future Investment Initiative Institute’s summit in Miami Beach. The Invest Saudi outpost in the Florida city will be the second in the US after Washington. Miami has been raising its economic and political profile in recent years, as a string of investment and banking firms have boosted their presence there. Financial conglomerate Citadel is relocating to Miami while Goldman Sachs Group Inc. and Dan Sundheim’s D1 Capital Partners are among those that have expanded there.

• Saudi PIF Eyes More US Investment in Second Trump Term, Governor Says

  40% of the fund’s international investments go to the US, Yasir Al-Rumayyan said on Friday at the Saudi-sponsored Future Investment Initiative Priority summit in Miami. “And it could be much more,” he added, but “unfortunately sometimes when you want to procure more from the US or invest more there are certain restrictions. I hope with the current administration these restrictions will be out and it will attract more investment.” Al-Rumayyan said PIF, which counts Newcastle United and LIV Golf among its holdings, remains focused on sports and e-sports investments. He said that its portfolio company Savvy’s mandate is to “not only to invest in other companies in e- or video games, but to create esports activities.” Savvy-owned Scopely is in talks to acquire Niantic’s video-game business, Bloomberg News reported earlier this week.

• King Salman orders naming of 15 Riyadh squares after Saudi rulers to commemorate Founding Day

  The directive reflects the leadership’s commitment to honoring the legacy of Saudi rulers who played a pivotal role in the foundation, unification, and development of the nation over the past three centuries. The designated squares are located along major roads in the Saudi capital and will bear the names of key figures in the country's history. Among them are Imam Mohammed bin Saud, Imam Abdulaziz bin Mohammed, Imam Saud bin Abdulaziz, Imam Abdullah bin Saud, Imam Turki bin Abdullah, Imam Faisal bin Turki, Imam Abdullah bin Faisal, and Imam Abdulrahman bin Faisal. Additionally, the names of Saudi kings who shaped the modern state will be commemorated, including King Abdulaziz, King Saud, King Faisal, King Khalid, King Fahd, King Abdullah, and King Salman.

• Saudi Arabia tops MENA for venture capital investment in 2024

  Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held more than 40% of VC investments in the region, or $750 million, in 2024, according to venture data platform MAGNiTT. The United Arab Emirates (UAE) came second with $613 million. The value of venture investments in Saudi Arabia was down 44% in 2024, driven by an 85% year-on-year (YoY) decline in the value of mega deals (deals exceeding $100 million). According to the Saudi VC Report for 2024, VC deals hit a record high during the period, reaching 178, up 16% YoY, driven by increased early-stage activity.

• Arab leaders meet in Saudi Arabia to hash out Gaza plan

  The official Saudi Press Agency said the "fraternal consultative" meeting saw an "exchange of views on various regional and international issues, especially joint efforts in support of the Palestinian cause, and developments in the situation in the Gaza Strip". Egyptian President Abdel Fattah al-Sisi's office said he had left the Saudi capital after the sit-down with the leaders of Bahrain, Jordan, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The Saudi source had told AFP that the summit participants would discuss "a reconstruction plan to counter Trump's plan for Gaza". The Gaza Strip is largely in ruins after more than 15 months of war between Israel and Hamas, with the United Nations recently estimating that reconstruction will cost more than $53 billion.

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