MUST-READS

• What can Ukraine expect from talks with US in Saudi Arabia?

  Ukrainian President Volodymyr Zelenskyy is to visit Saudi Arabia next week for a planned meeting there between delegates from Ukraine and the US. If all goes according to plan, it will be the first Ukraine-US meeting since the presidents of the two countries quarreled in the White House on February 28. At those talks, US President Donald Trump and Vice President JD Vance accused Zelenskyy of being ungrateful for the US aid given to Ukraine and of being unwilling to end the war in his country. After the Oval Office catastrophe, Zelenskyy cut his US trip short and left Washington. No new meeting between Zelenskyy and Trump is to be held in Riyadh.  Now, ahead of his planned visit to Saudi Arabia, he has announced on the messaging app Telegram that he is planning a meeting with the de facto Saudi ruler, Crown Prince Mohammed bin Salman, adding: "Ukraine is most interested in peace. As we told President Trump, Ukraine is working and will work exclusively constructively for a quick and reliable peace."

• Saudi Arabia spends $724 million to implement 1,072 projects to empower women in 79 countries

  Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Center (KSrelief), has implemented as many as 1,072 projects dedicated for the most needy women in 79 countries around the world. Implementation of these projects, which are valued at nearly $724 million, coincide with International Women's Day, which falls on March 8 each year. The projects implemented by KSrelief included provision of assistance to Yemeni women and empowering them economically, building their capacities by providing training programs in the professional and commercial fields, and providing them with the necessary tools that help them find income-generating opportunities that contribute to improving the livelihoods of the beneficiaries and their families.

• Saudi MoH warns against fake sick leaves, imposes jail, SAR 100,000 fine

  The Ministry of Health (MoH) warned against engaging with social media accounts that promote fraudulent sick leaves, emphasizing that such practices are criminal offenses subject to legal penalties. This warning is part of the ministry’s regulatory efforts to enhance the digital healthcare system and ensure compliance with regulations. According to the Saudi Press Agency (SPA), the ministry stated today, March 9, that penalties apply to anyone issuing false or misleading medical reports. Punishments include up to one year in prison and a fine of up to SAR 100,000.

• Saudi Universities Top Global Patent Ranking

  Saudi universities have dominated the National Academy of Inventors' (NAI) 2024 Top 100 Worldwide Universities list, which ranks the top 100 universities granted utility patents during the calendar year. According to a Council of Universities Affairs press release, King Faisal University led the global list with 631 patents. King Fahd University of Petroleum and Minerals secured 5th place with 265 patents, Imam Abdulrahman Bin Faisal University ranked 15th with 141 patents, and King Saud University placed 64th with 56 patents. Council of Universities Affairs Secretary-General Dr. Bassam Al-Bassam attributed this success to the significant transformation of Saudi universities, particularly in scientific research and innovation. He emphasized their emergence as hubs for research aligned with Saudi Vision 2030, supported by the Kingdom's leadership and the minister of education. Al-Bassam congratulated the universities and expressed optimism for continued achievements.

• Saudi quick commerce startup Ninja, by HungerStation’s founder, in talks to raise at $1B+ valuation: report

  Ninja, a Saudi quick commerce startup founded and led by Ebrahim Al-Jassim, the founder of HungerStation is in talks to raise fresh funds at a valuation of over $1 billion, Bloomberg reported on Tuesday. The round, according to the report, could be finalized and closed as early as this month, and is being led by Riyad Capital, the investment arm of Riyad Bank, one of Saudi Arabia’s largest banks. While it launched 1957 Ventures last year to focus on fintech, this investment will likely come from its main entity due to the round’s large size. The firm is is also behind Riyad Taqnia Fund (RTF), a VC fund it founded with Taqnia, a Saudi technology investment and development company, in 2016.

• More Saudi women take the lead with over 78,000 in senior roles, 551,000 business owners

  In honor of International Women’s Day, Saudi Arabia’s General Authority for Statistics released data highlighting the increasing role of Saudi women in the workforce, leadership positions, and entrepreneurship. According to the report, Saudi Arabia is home to 9.8 million women, with 36.2% participating in the labor force as of the third quarter of 2024. The employment-to-population ratio for Saudi women reached 31.3%, reflecting steady progress in workforce inclusion. The report also shows that more Saudi women are stepping into leadership and business roles. In 2024, 78,356 Saudi women held senior management positions, while 551,318 women registered businesses in 2023. Freelancing is also on the rise, with 449,725 Saudi women obtaining freelance work permits in 2023. Meanwhile, the tourism industry saw a boost in female employment, with 111,259 Saudi women working in tourism-related jobs in 2024.

• Saudi Arabia opens 24-hour childcare centers at Grand Mosque for Ramadan worshippers
  As millions of worshippers flock to the Grand Mosque in Mecca during the holy month of Ramadan, the General Authority for the Care of the Affairs of the Grand Mosque and the Prophet's Mosque has launched dedicated centers to host young children, providing round-the-clock care and educational programs. Designed for children aged 1.5 to 9 years, the centres offer a secure environment where children can engage in activities that foster learning and personal growth while their families perform religious rites. In addition to supervised learning, the centers provide meals, spaces for watching educational videos, and designated areas for rest and sleep.

• Saudi construction surge draws interest from around the world

  Growing numbers of small construction companies, contractors and materials suppliers from around the world are entering the Saudi market for the first time or expanding their existing foothold, looking to capitalise on opportunities in the Gulf’s largest construction market. That market could even grow to be the world’s largest in 2028, according to real estate consultancy Knight Frank. Saudi companies and suppliers in other parts of the six-member Gulf Cooperation Council are unable to fully meet Saudi demand, offering an opportunity to others beyond the region. “Saudi companies cannot provide for all the buildings that are coming so I think that, for the next few years, they will be very open to foreign companies.” Even excluding flagship projects such as Neom, Saudi Arabia is home to at least six giga-projects, so called because they are monumental in terms of either physical structure or financial investment.

• What to know ahead of the talks between the US and Ukraine in Saudi Arabia

  Saudi Arabia is to host talks on Tuesday between the United States and Ukraine in a new diplomatic push after an argument erupted during President Volodymyr Zelenskyy’s Feb. 28 visit to the White House. Saudi Arabia’s Foreign Ministry in a statement on Friday identified the location for the talks as Jeddah, a port city on the Red Sea. It’s not clear why the kingdom picked Jeddah as opposed to Riyadh, the Saudi capital where the initial Russia-U.S. talks took place on Feb. 18. However, Jeddah has hosted other diplomatic engagements in the past and is home to royal palaces. Zelenskyy plans to visit Saudi Arabia on Monday ahead of the talks. He earlier delayed a trip to the kingdom after traveling to the neighboring United Arab Emirates, which also has been considered as a possible venue for peace talks between Kyiv and Moscow.

• Carbon Markets and Saudi Arabia: A Review of Options and Analysis of Carbon Crediting Potential
  The Kingdom of Saudi Arabia has been taking steps towards carbon market development to stimulate domestic and international climate action. In 2022, the government announced a domestic greenhouse gas (GHG) crediting mechanism – the Greenhouse Gas Crediting and Offsetting Mechanism (GCOM) – which will be the first government-led carbon crediting mechanism to be set up in the Gulf region. In parallel, Saudi Arabia’s largest sovereign wealth fund, the Public Investment Fund (PIF), has established the Regional Voluntary Carbon Market Company (RVCMC) that is providing a marketplace for internationally traded carbon credits. 

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