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QUOTED
“Saudi companies cannot provide for all the buildings that are coming so I think that, for the next few years, they will be very open to foreign companies.” ProMarmo commercial director Rafael Tonello Rizzardo, Saudi construction surge draws interest from around the world [Arabian Gulf Business Insight]
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TOP STORY
The Middle East was the top recipient of construction and investment deals under China’s Belt and Road Initiative (BRI) in 2024, with the total value reaching $39 billion. Almost half, $19 billion, was invested in Saudi Arabia. [more]
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MORE TOP STORYLINES
Via Nike Ching in voanews.com: U.S. Secretary of State Marco Rubio will arrive in Jeddah, Saudi Arabia, on Monday for U.S.-Ukraine talks as President Donald Trump pushes to broker a swift end to the Russia-Ukraine war, despite Russia’s latest massive aerial attacks against Ukraine’s energy infrastructure. While in Jeddah, Rubio will also meet with Saudi Crown Prince Mohammed bin Salman Al Saud to discuss ways to advance shared interests in the region and strengthen the U.S.-Saudi relationship, said State Department spokesperson Tammy Bruce. According to the State Department, Rubio has “underscored President Trumps determination to end the war as soon as possible and emphasized that all sides must take steps to secure a sustainable peace” in a Friday call with Ukrainian Foreign Minister Andrii Sybiha.
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in saudigazette.com: In honor of International Women’s Day, Saudi Arabia’s General Authority for Statistics released data highlighting the increasing role of Saudi women in the workforce, leadership positions, and entrepreneurship. According to the report, Saudi Arabia is home to 9.8 million women, with 36.2% participating in the labor force as of the third quarter of 2024. The employment-to-population ratio for Saudi women reached 31.3%, reflecting steady progress in workforce inclusion. The report also shows that more Saudi women are stepping into leadership and business roles. In 2024, 78,356 Saudi women held senior management positions, while 551,318 women registered businesses in 2023. Freelancing is also on the rise, with 449,725 Saudi women obtaining freelance work permits in 2023. Meanwhile, the tourism industry saw a boost in female employment, with 111,259 Saudi women working in tourism-related jobs in 2024.
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Via Eva Levesque in agbi.com: Saudi Aramco has scaled down its low carbon ammonia production target by 80 percent because of high costs and low demand. The company has adjusted its production objective from 11 million tonnes per annum (mpta) by 2030 to 2.5 mpta, it has said. The new target is still subject to the availability of commercially viable long-term offtake projects, Amin Nasser, Aramco CEO, told analysts during an earnings call this week. “We refined the target. The market is not evolving quickly enough considering the high cost,” Nasser said. Nasser said Aramco, which is the world’s largest oil company by value, is in discussions with potential ammonia buyers but will only go ahead with production if it secures agreements with “appropriate” returns.
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MORE ON THE KINGDOM AND BEYOND
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Saudi Arabia is to host talks on Tuesday between the United States and Ukraine in a new diplomatic push after an argument erupted during ...[By Jon Gambrell via apnews.com]
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Ukrainian President Volodymyr Zelenskyy is to visit Saudi Arabia next week for a planned meeting there between delegates from Ukraine and the US. If all...[By Lilia Rzheutska via dw.com]
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The Middle East was the top recipient of construction and investment deals under China’s Belt and Road Initiative (BRI) in 2024,...[By Gavin Gibbon via agbi.com]
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Growing numbers of small construction companies, contractors and materials suppliers from around the world are entering the Saudi market for the...[By Edmund Bower via agbi.com]
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Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with...[via arabnews.com]
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Around 600 foreign companies have established their regional headquarters in Saudi Arabia since the 2021 launch of the Saudi Program for Attracting Regional Headquarters (RHQ)...[via spa.gov]
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The October event was the lavish opening of the first part of Neom, a planned metropolis defined by cutting-edge technology and psychedelic architecture,...[By Eliot Brown, Rory Jones via msn.com]
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As millions of worshippers flock to the Grand Mosque in Mecca during the holy month of Ramadan, the General Authority for the Care of...[By Khitam Al Amir via gulfnews.com]
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Saudi Arabia’s unveiling of a new symbol for the riyal has been dubbed a “visionary maneuver” that will enhance the currency’s global recognition, strengthen investor...[By Mohammed Al-Kinani via arabnews.com]
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Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Center (KSrelief), has implemented as many as 1,072 projects dedicated for the most needy...[via saudigazette.com]
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The Kingdom of Saudi Arabia has been taking steps towards carbon market development to stimulate domestic and international climate action....[By Paul Zakkour, Anwar Gasim and Mari Luomi via kapsarc.org]
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Saudi universities have dominated the National Academy of Inventors' (NAI) 2024 Top 100 Worldwide Universities list, which ranks the top 100 universities granted utility patents...[via spa.gov]
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Ninja, a Saudi quick commerce startup founded and led by Ebrahim Al-Jassim, the founder of HungerStation is in talks to raise fresh funds at a...[via menabytes.com]
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The Ministry of Health (MoH) warned against engaging with social media accounts that promote fraudulent sick leaves, emphasizing that such practices are criminal offenses subject...[via argaam.com]
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A total of 20,749 people were arrested in Saudi Arabia during a nationwide inspection campaign targeting violations of residency, labour, and border...[By Khitam Al Amir via ]
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The second “Building Bridges Between Islamic Schools of Thought” international conference concluded in Makkah early on Saturday, with participants from more than 90 countries adopting...[via arabnews.com]
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Syria's leader vowed on Sunday to hunt down the perpetrators of violent clashes pitting loyalists of deposed...[By Jaidaa Ahmad and Suleiman Al-Khalidi via reuters.com]
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U.S. immigration agents arrested a Palestinian graduate student who has played a prominent role in pro-Palestinian protests...[By Jonathan Allen via reuters.com]
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