“There is a pathway towards a much better future for the region, for the Palestinians, and for Israel, that is peace, and we are fully committed to that… a ceasefire on all sides should be a starting point for permanent sustainable peace, which can only happen through justice to the Palestinian people.”
Prince Faisal bin Farhan, Foreign Minister, Saudi Arabia, Saudis could recognise Israel if Palestinian issue resolved – foreign minister [Reuters]
“Last year, Ma’aden embarked on one of the largest exploration programs in the world. These discoveries are a significant demonstration of the untapped potential of mineral resources in Saudi Arabia, supporting the diversification of the country in line with Vision 2030 and establishing mining as the third pillar of the Saudi economy… These discoveries have the potential to be the centre of the world’s next gold rush and are a strong part of our growth strategy. The Arabian Shield has enormous potential for more world class discoveries, and this is the first of many we expect to make in the coming years.”
Robert Wilt, CEO, Ma’aden, Saudi Arabia accelerates diversification into lithium and gold sectors [Small Caps]
“According to the list, the Saudi passport allows its holder to enter 89 countries without an entry visa, while its holder still must obtain a visa to enter 137 countries. The Saudi passport was ranked 72nd in 2021, and 65th in 2022 and 2023. The Saudi passport is preceded by the Omani passport with the margin of a rank, while it is followed by the Chinese passport with the margin of a rank. The UAE passport ranked 11th, while Qatar ranked 53rd, Kuwait 55th, and Bahrain 59th.”
Saudi passport advances its global ranking to 61st among over 200 countries [Saudi Gazette]
“We are in the middle of the world. Saudi Arabia is location-wise between three continents…we think we connect the whole world all together.”
Khalid al-Mudaifer, Vice Minister for Mining, Saudi Arabia, Hunt for Critical Minerals Draws World Powers to Saudi Arabia [Wall Street Journal]
“The kingdom emphasizes the importance of maintaining the security and stability of the Red Sea region, as the freedom of navigation in it is an international demand.”
-Saudi Arabia’s Ministry of Foreign Affairs, in a statement following the US-led coalition’s attacks on Houthi positions in Yemen in response to a Houthi attack on U.S. ships and personnel in the Red Sea. The Kingdom urged restraint. [Reuters]
“The Saudi delegation comprises prominent figures, including Saudi Ambassador to the US Princess Reema bint Bandar, Minister of Commerce Dr. Majid Alkassabi, Minister of State for Foreign Affairs, Member of the Council of Ministers, and Envoy for Climate Adel Aljubeir, Minister of Investment Khalid Al Falih, Minister of Finance Mohammed Aljadaan, Minister of Communications and Information Technology Abdullah Alswaha, Minister of Industry and Mineral Resources Bandar Alkhorayef, and Minister of Economy and Planning Faisal Alibrahim. This diverse team underscores the Kingdom’s commitment to addressing global issues collaboratively.”
Faisal bin Farhan to lead high-level Saudi delegation to WEF 2024 in Davos [Saudi Gazette]
“It has been quite remarkable to witness the growth of the Saudi VC ecosystem. Relative to other countries across MENA, the kingdom was late to the VC space. 2023 closed the year at almost $1.4 billion with 2 new Unicorns headquartered in the kingdom. It will be exciting to see how this will further develop heading into 2024 and beyond.”
Philip Bahoshy, Magnitt founder and Chief Executive Officer, Saudi Arabia Overtakes the UAE in Middle East VC Fund Raising [Bloomberg]
“But Iran is not the only headache for Washington. Israel is also emerging, despite the bear-hug of support from the Biden administration, as a major threat to the US goal of conflict containment.”
Hussein Ibish, Opinion: The Biden administration is seeing its Middle East policies collapsing [The National]
“The vast majority of McDonald’s locations are run by local franchise operators. These operators act in many ways as independent businesses: They set wages and prices and, when they feel it appropriate, make statements or donations at their discretion. That approach has helped make McDonald’s a global phenomenon, with over 40,000 locations globally, including nearly 27,000 outside of the United States, as of 2022.” But it means the company can’t dictate how each operator responds in a crisis, for better or worse.
‘Disheartening and ill-founded:’ McDonald’s CEO responds to Middle East backlash [CNN]
“Saudi Arabia is a fascinating and rapidly growing market. There are over 21 million gamers in the Kingdom, 70 percent of the population, over 40 per cent of whom are women… According to Niko Partners, games revenue in Saudi Arabia, the UAE, and Egypt will experience 56 per cent growth by 2026, surging from $1.8 billion in 2022 to an estimated $2.8 billion by 2026. That’s an annual growth rate of almost 10 per cent, which is pretty impressive.” Savvy Games Group: “Approximately 75 percent of our capital allotment has not yet been invested” [Pocket Gamer]
