“They already make enough. The tour only understands leverage. And now the players are getting some of that. So things are changing and will continue to change. I just hope the leverage doesn’t go away. If it does, we’ll be back to the status quo.”
-Phil Mickelson discussing the PGA Tour, player attitudes and the growing tension with competing leagues. [Fox Sports]
“Customer demand in the [Saudi] non-oil sector was quelled by the Omicron variant at the start of the year, leading to slower rises in activity and new business and the softest improvement in business conditions since October 2020. Export sales decreased for the first time since last March, as companies also blamed high costs for global shipping and transport.”
-David Owen, economist at survey compiler IHS Markit. [Reuters]
“Curriculum planning and teaching methods need to be changed. The teaching method abroad depends on analysis, criticism, and student research. The main problem here lies in the lack of a practical side, while focusing on research.”
-Hala Alhaid, one of three young Saudi women in the film industry interviewed by Amr EL-Tohamy for Al-Fanar Media. [Al-Fanar Media]
“Many parts of the US are water-scarce with seasonal harsh climates, making it a challenge to grow fresh produce year-round. However, the breakthrough technologies Red Sea Farms has created could help address the reliance on freshwater consumption in food production and improve food security.”
-Ryan Lefers, Red Sea Farms CEO, commenting on an agreement with the University of Arizona’s College of Agriculture and Life Sciences to evaluate the company’s latest technology with the aim of introducing it in the world’s largest economy, [The National]
“The Public Investment Fund is set to raise $820mn from selling a stake in digital security firm Elm Co next month after pricing the share sale at the top of the pricing range. That’s in addition to the $3.2bn it raised from selling shares in Saudi Telecom Co, the largest secondary offering in the Europe, Middle East and Africa region last year. It also raised $1bn from selling a stake in the Saudi stock exchange in December.”
“The significance of the year 1727 in the story of Saudi Arabia has become ever more apparent in the light of extensive research carried out by historians and archaeologists.”
King Salman issued a royal order announcing that Feb. 22 will be known as Founding Day. The new annual national holiday, which will be celebrated for the first time next month, has been created to recognize the foundation of the first Saudi state in 1727 by Imam Mohammed ibn Saud. [Arab News]
“Volatile commodity prices, fragmented economic growth and fragile geopolitics stemming from increased energy interdependence have emerged as top concerns that will add to the uncertainty of achieving the global energy agenda, according to the World Energy Council.”
“Starting Feb. 1, the ‘Immune’ vaccinated status will expire in the Tawakkalna application for anyone who is aged 18 and above and has passed eight months after taking the second dose of the COVID-19 vaccine but has not received the booster dose.”
-The Ministry of Interior stressed the need to obtain the third booster dose to enter facilities, public places, entertainment venues, airplanes and public transportation. [Saudi Gazette]
“From a Saudi standpoint, these growth projections undoubtedly bode well for the local gaming and eSports community. Despite the kingdom being a relatively recent entrant to this space, the industry is vibrant and fast-growing, nevertheless.”
-Povilas Joniskis, partner at Boston Consulting Group, commenting on a BCG report showing gaming consumption in Saudi Arabia projected to reach $6.8 billion by 2030. [The National]
“There is always churning in the labor market, but increasing churn is typically a sign of strengthening labor markets. Churn refers to turnover that is not related to job creation or destruction, so it is not a measure of net job creation but of labor market fluidity.”
Job churn in Saudi Arabia increased from 3.9% in 3Q 2019 to 6.7% in 3Q 2021. [Brookings]
