QUOTED

Quoted

“Discussions are just happening, and at the Arab Summit there will be agreement… Straight off the bat, there is no one state solution. As far as we’re concerned, we don’t see the displacement of the people of Gaza as a viable method in order to achieve prosperity.” Khalid bin Bandar Al Saud, Saudi Arabia’s ambassador to the UK, Saudi ambassador to UK rules out one-state solution for Palestine [Arab News]

TOP STORY

Official symbol for Saudi Riyal introduced

courtesy: Time Out Riyadh

The symbol, which blends Arabic calligraphy with the name of the national currency, “riyal,” will be utilized in financial and commercial transactions both within the Kingdom and internationally. [more]

 

MORE TOP STORYLINES

Arab leaders huddle in Saudi Arabia in pushback to Trump's Gaza plans

Via Aya Batrawy in npr.org: There was no final communique, press conference or details of when the meeting started or ended, in contrast to standard protocol when Arab leaders meet. Instead, a single photo was released on Friday, showing Arab leaders standing shoulder-to-shoulder in Saudi Arabia for what the kingdom called an informal brotherly gathering, though with lofty discussion on Gazas future. Arab countries, keen to maintain warm ties with Trump as president, have rejected the displacement of Palestinians from Gaza while not directly condemning Trumps idea. Egypt and Jordan view the plan as destabilizing to their security and the region. The UAE, which has close ties with Israel and opposes Hamas in Gaza, has emphasized that reconstruction of Gaza must be linked to the establishment of a Palestinian state. An assessment this week by the U.N., World Bank and European Union says Gaza and the occupied-West Bank need at least $53 billion for reconstruction and recovery over the next decade. The U.N. says 95% of Gazas schools have been damaged or destroyed, as have more than 90% of homes and most hospitals, roads, water systems and agricultural land. Another U.N. estimate says more specifically that nearly 300,000 homes have been completely destroyed in Israeli airstrikes.

Saudi PIF Eyes More US Investment in Second Trump Term, Governor Says

Via Matthew Martin and Gillian Tan in yahoo.com: 40% of the fund’s international investments go to the US, Yasir Al-Rumayyan said on Friday at the Saudi-sponsored Future Investment Initiative Priority summit in Miami. “And it could be much more,” he added, but “unfortunately sometimes when you want to procure more from the US or invest more there are certain restrictions. I hope with the current administration these restrictions will be out and it will attract more investment.” Al-Rumayyan said PIF, which counts Newcastle United and LIV Golf among its holdings, remains focused on sports and e-sports investments. He said that its portfolio company Savvy’s mandate is to “not only to invest in other companies in e- or video games, but to create esports activities.” Savvy-owned Scopely is in talks to acquire Niantic’s video-game business, Bloomberg News reported earlier this week.

Duel In the Desert: Forever Young Pips Romantic Warrior In An Epic Saudi Cup

Via Alan Carasso in thoroughbreddailynews.com: The Arabic announcer at King Abdulzaziz Racetrack whipped the crowd into a literal frenzy as the Saudi Cup field circled the starting stalls midway up the chute. The 109 seconds that followed the springing of the stalls nearly defies description. Romantic Warrior opened up on his rivals and they were partying in Wan Chai, but as he displayed when blousing out Bookem Danno (Bucchero) at the finish of last years Saudi Derby, Forever Young loves a fight, and he began pegging back the margin with time ticking away. James McDonald was hard at work on Romantic Warrior and said post-race that his mount was not stopping, but Forever Young was kept after and proved narrowly better on the day in a race that wont soon be forgotten. “He jumped very well from the wide gate in 14 and got into a nice position without a problem. It was my tactics to be in that situation. I believe in Forever Young, I never thought Id lose the race. This is the best moment in my life.” The Saudi Cup is a newly announced Win and Youre In qualifier for this years Breeders Cup Classic.

 

MORE ON THE KINGDOM AND BEYOND

Arab leaders meet in Saudi Arabia to hash out Gaza plan

The official Saudi Press Agency said the "fraternal consultative" meeting saw an "exchange of views on various regional and international issues, especially joint efforts in...[via france24.com]

 

Saudi Arabia hosts ‘informal’ Arab summit on post-war Gaza

Saudi Arabia hosted an “informal” summit of Arab states in its capital Riyadh on 21 February to discuss regional efforts to propose an alternative to US...[via thecradle.co]

 

Analysis: What’s Behind the Arab Alternative to Trump’s Gaza Proposal

This would appear to be Israel’s strategic choice, and shifting that will take an enormous amount of pressure from Washington. By coming up with a...[By Hussein Ibish via agsiw.org]

 

Saudi ambassador to UK rules out one-state solution for Palestine

Saudi Arabia’s ambassador to the UK, Prince Khalid bin Bandar, has reaffirmed Riyadh’s stance that a two-state solution remains the only viable path to resolving...[By Gabriele Malvisi via arabnews.com]

 

Saudi FM meets with counterparts on sidelines of G20 meeting in Johannesburg

Saudi Foreign Minister Prince Faisal bin Farhan met with his counterparts from the UK, China, Australia, and France separately in Johannesburg on Thursday. On the sidelines...[via arabnews.com]

 

King Salman orders the naming of 15 Riyadh squares after Saudi imams and kings

The Riyadh Municipality has begun installing road signs, bearing the names of imams and kings, at 15 main squares in the capital. It reflects the leadership’s...[via arabnews.com]

 

King Salman orders naming of 15 Riyadh squares after Saudi rulers to commemorate Founding Day

The directive reflects the leadership’s commitment to honoring the legacy of Saudi rulers who played a pivotal role in the foundation, unification, and development of...[via com.sa]

 

Saudi Arabia amends labor law, extends maternity leave

announced new amendments to its labor law, including implementing a longer maternity leave period. The new amendments, which came into effect on...[By Tamara Abueish via alarabiya.net]

 

Miami Chosen by Saudi Arabia for Second USA Investment Office

Saudi Arabia will open an investment office in Miami, after the kingdom’s de-facto ruler pledged to boost US investment. In addition to US investments, Saudi Arabia...[By Matthew Martin, Dasha Afanasieva via rigzone.com]

 

Saudi Arabia tops MENA for venture capital investment in 2024

Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held...[via argaam.com]

 

Kingdom of Saudi Arabia confirms US$ 500 million commitment to global polio eradication effort

The Kingdom of Saudi Arabia today reaffirmed its US$ 500 million pledge to the Global Polio Eradication Initiative (GPEI) in a signing event during the fourth...[via polioeradication.org]

 

Saudi Arabia: Businesses put on notice over Saudisation

The Saudi Ministry of Human Resources has asked establishments to comply with rules employing Saudis and ensure they make up no less than 75%...[By Ramadan Al Sherbini via gulfnews.com]

 

Frankly Speaking: How did Saudis become mediators for global conflicts?

Appearing on the Arab News current affairs program “Frankly Speaking,” Dr. Abdulaziz Sager, founder and chairman of the Gulf Research Center, highlighted the significance of...[via arabnews.com]

 

Would an end to the Ukraine war be bad news for Saudi Arabia and oil prices?

The US’s whirlwind bid to resume relations with Russia and end the war has left Europe reeling. The Arab Gulf will be closely watching what...[By Sean Mathews via middleeasteye.net]

 

SoftBank’s Son Says He Hasn’t Given Saudi Prince Enough Return

SoftBank Group Corp. Chief Executive Officer Masayoshi Son acknowledged that his company’s partnership with Mohammed Bin Salman’s Public Investment Fund has failed to fully deliver...[By Dasha Afanasieva via yahoo.com]

 

From Oil to Hydrogen: Saudi Arabia’s Journey to Net-Zero by 2060

As of 2024, the NGHC has achieved an impressive 60% completion across key infrastructure elements, including a state-of-the-art hydrogen production plant, a wind farm, a solar...[via saudienergyconsulting.com]

 

Saudi Arabia may be expanding ballistic missile force, satellite images show

Saudi Arabia may be quietly modernising and expanding its long-range missile capabilities, according to newly published satellite imagery. Fabian Hinz, a defence and military researcher...[via middleeasteye.net]

 

Saudi Arabia Boosts Travel Industry and Non-Oil Economy

In a historic turn for Saudi Arabia’s economic diversification, the kingdom’s non-oil private sector economy recorded its strongest growth in over a decade in January...[via travelandtourworld.com]

 

Saudi Billionaire Olayan Bets on Female Founders in Deal Spree

Dara Holdings, billionaire Lubna Olayan’s family office, has made a series of investments since mid-2024 in United Arab Emirates-based startups founded by women. Her firm...[By Ben Stupples and Devon Pendleton via msn.com]

 

Top 30 FAQ about investing in Saudi Arabia

The legal framework governing foreign investment in Saudi Arabia has traditionally been based on the Foreign Investment Law of 2000. However, on August 11, 2024,...[via shuralawfirm.com]

 

Olam to sell 44.6% stake in agribusiness to Saudi Arabia for $1.8bln, shares jump

Singapore-based Olam Group on Monday said it will sell a 44.58% stake in its agricultural products business Olam Agri for $1.78 billion to state-owned Saudi...[By Sameer Manekar and Rishav Chatterjee via zawya.com]

 

Saudi Arabia records over 21,000 residency, labor, and border violations in latest inspections

The Ministry of Interior conducted nationwide inspection campaigns between February 13 and February 19 to enforce residency, labor, and border security laws, recording 21,222 violations...[via saudigazette.com]

 

Benzema seals emphatic win in Saudi Clasico to increase Al Ittihad’s lead at summit

Al Ittihad took a huge step towards the Roshn Saudi League title on Saturday with a thumping 4-1 victory against Al Hilal in the Saudi...[via spl.com]

 

BP to ditch renewables goals and return focus to fossil fuels

BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus...[By Arunima Kumar and Anousha Sakoui via reuters.com]

 
 

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