“Changing economic and geopolitical dynamics are motivating both regions to forge new strategic partnerships. Central Asia is experiencing a period of unprecedented economic sovereignty as Russia’s invasion of Ukraine has weakened the country’s influence across the post-Soviet region. While China remains a major economic player in Central Asia, C5 countries are wary of becoming reliant on Chinese finance. Central Asian states see an opportunity to use new relationships to balance against their traditional partners and are aggressively seeking engagement with influential global powers.” Charly Ward, Central Asia: “Unprecedented” Collaboration Moves Beyond Oil [Caspian Policy Center]
“Historically, demand for food products peaks during Ramadan and the Hajj season, but that trend could change with so many ongoing projects underway.” Foreign Agricultural Service of the US Department of Agriculture, Saudi Arabia’s wheat production continues to grow [World Grain]
“We had a very good discussion about the work that we’ve been doing for many months now on normalisation, and that work is moving forward. We’re continuing to make good progress.” Antony Blinken, U.S. Secretary of State following meetings with Saudi Crown Prince Mohammed Bin Salman. He added that he could not offer a timeframe and another senior State Department official said Washington and Riyadh were down to a handful of bilateral issues and there was political will to address those gaps. Blinken cites progress with Saudis on normalising ties with Israel [Reuters]
“In 2023, 443 films were released in local cinemas, amassing 17.4 million admissions – an impressive increase of more than 20% from 2022. Total ticket sales exceeded $240 million, propelling Saudi Arabia to the 15th position globally in box office rankings for the year, according to ComScore. The top three highest-grossing films in Saudi Arabia during 2023 were Oppenheimer, Sattar, and Mission: Impossible – Dead Reckoning Part One”. Forward motion: The Saudi film industry is poised for an era of dynamic growth [Screen Daily]
“Aramco also announced an increase in this year’s capex spend to be in the range of $48-$58 billion of which 60 percent will go into upstream, 30 percent downstream and 10 percent in new energies.” Amena Bakr, Saudi Arabia is not abandoning upstream investment [Al-Arabiya]
“Saudi Arabia’s public debt is low (26.5% of GDP in 2023, compared with 65% in Germany and 112% in France), and its fiscal room for maneuver is substantial.” Saudi Arabia takes on debt to finance its megaprojects [Le Monde]
“Saudi Arabia is an increasingly important global metals hub and Jeddah fully meets with the operational and logistical criteria for new warehouse locations – such as being an important area of net consumption and having an effective transport network.” Matthew Chamberlain, LME chief executive, LME plans to list Saudi port as a copper and zinc delivery point [Reuters]
“Our mission at Manga Productions is to inspire heroes of tomorrow. We are investing in our young generations in Saudi Arabia as we believe in the power of content to shape a better future.” Dr. Essam Bukhary, CEO, Manga Productions, a subsidiary MiSK Foundation, How Saudi Arabia has become a global hub for manga and anime [Al-Arabiya]
“When it comes to laws affecting women’s decisions to work, laws affecting women’s pay, constraints on women starting and running a business, and laws affecting the size of a woman’s pension, Saudi Arabia gets a perfect score of 100.”
-A conclusion from the recent World Bank report, Women, Business and the Law 2024. [DW.com]
“People in Saudi are viewing art differently now. People are excited, they want to see more art, and they want to be educated more about what it is. We are so proud to be working in the realm of culture today to transform the cities and landscapes of our country.” Nouf Al Moneef, the director of Noor Riyadh, an art festival named after the Arabic word for light, Saudis Transform the Kingdom Through Public Art [Arab Gulf States Institute in Washington]
