These changes reflect “the rise of global multipolarity and mid-level regional powers with international roles. Saudi Arabia and Turkey are good examples of such mid-level powers now helping shape international realities in a way they rarely did during the Cold War.”
Hussein Ibish, senior resident scholar at the Arab Gulf States Institute in Washington [CNBC]
“Only six years after its establishment, SAMI claims to have a backlog of over $10 billion in contracts, and its CEO announced reaching a localization percentage of close to 15%. In 2020, SAMI’s annual revenue was a mere $20 million, which then increased to $690 million in 2021. A few months later, in March 2022, SAMI captured more than half of the $2.9 billion in contracts awarded to local companies during the World Defense Show held in Riyadh.”
-Albert Vidal [Gulf International Forum]
“It appears that the voluntary cuts announced by eight OPEC+ countries in April plus the additional 1 million bpd of unilateral Saudi cut that just started in July are having the desired effect, with sour barrels becoming more scarce.”
Oil inventory drops set stage for higher prices [Reuters]
“The Emerging Venture Markets (MENA, Africa, Pakistan, and Turkey) brought in a total of $1,880M across 530 deals in H1 2023. This marked a substantial decline of 64% in funding and 40% in the number of deals compared to the first half of last year.”
H1 2023 MENA Venture Investment Summary [Magnitt]
“In the U.S. we’ve been so used to feeding on cheap energy that we forgot to innovate. We have many techniques we can use to reduce heat, and we can actually borrow from what happens in the Middle East and look at Iran or look at Dubai and Turkey.”
John Onyango, a professor at the University of Notre Dame School of Architecture. The U.S. Should Ditch AC and Use Middle Eastern Techniques to Cool Its Cities [Time]
“For years it has been considered perfectly normal for European clubs to buy up all the best young talent from Africa, Asia or South America; for teenagers to be lured to Europe with life-changing salaries. No-one questions this.”
Tom McTague, The Saudi football takeover is a taste of our own medicine [UnHerd]
“The world is stuck in a traffic jam. The world is affected by a lack of social interaction. The talk about cities often centres on slums. When we mention energy, it’s intertwined with pollution. The world needs a reset. Since most of us reside in cities, this reset must commence within the urban setting.”
Antoni Vives, Chief Urban Planning Officer at NEOM. [Construction Week]
“The State of Israel is at the third major juncture in its history. The first was when it was created in May 1948, improbably reconstituting a polity that had been destroyed almost 1900 years earlier. The second juncture was in June 1967, when Israel’s victory over Arab armies gave Israeli Jews dominion over the lands of their ancestors’ kingdoms, and also brought what was initially about 1.3 million Arabs under Israeli control with no prospect of citizenship. The third juncture is now, as the Knesset is set to decide what kind of democracy Israel will be.”
–Jon B. Alterman, senior vice president, Zbigniew Brzezinski Chair in Global Security and Geostrategy, and director of the Middle East Program at the Center for Strategic and International Studies in Washington, D.C. Israel’s Third Juncture in History [Center for Strategic and International Studies]
“With a history stretching back millennia, Saudi Arabian cuisine is an exquisite blend of tradition, culture, and innovation. Reflecting the vibrant pulse of the country’s Bedouin roots, layered with the diverse influences borne from ancient trade routes, the cuisine is an intriguing testament to the country’s rich and varied past. Enveloped within these culinary creations, you’ll find echoes of the Indian subcontinent, the aromatic allure of Persia, and the bold tastes of Africa, all deftly woven into a food narrative that’s uniquely Saudi.”
A Food Tour of Saudi Arabia: The 10 Dishes that Define the Cuisine [Munchery]
“We believe in the Kingdom of Saudi Arabia’s 2030 vision, ambition and potential, and are committed to contributing to its ongoing success through HungerStation.”
-Niklas Östberg, CEO and Co-Founder of Delivery Hero, said in a statement. Delivery Hero, the German online food delivery company, said Friday that it is taking full ownership of its Saudi subsidiary in a transaction valued at $297 million. [CNBC]
