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QUOTED
“We’ve been clear with our public statements, and we’ve been clear with our American friends that a pathway toward recognition [of Israel] requires two things: It requires an end to the fighting in Gaza and a withdrawal of all Israeli forces, and a Palestinian state. Without that, we’re not even able to consider this issue.” Faisal bin Farhan, Saudi Foreign Minister, speaking at the Munich Security Conference on February 19, 2024 [Jerusalem Center for Public Affairs]
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TOP STORY
Alat (Arabic for ‘machines’), the PIF funded $100 billion initiative to create an automated manufacturing hub in Saudi Arabia will invest up to $150 million in partnership with SoftBank.
[more]
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MORE TOP STORYLINES
in com.sa: Saudi Foreign Minister Prince Faisal bin Farhan has urged G20 countries to exert pressure for meaningful actions to end the war in Gaza and support a credible, irreversible path towards a two-state solution. The Saudi minister participated in the first session of the G20 Foreign Ministers Meeting, held in Rio de Janeiro, Brazil, under the theme “The G20s Role in Addressing Ongoing International Tensions.” Prince Faisal congratulated Brazilian Foreign Minister Mauro Vieira on Brazils assumption of the G20 presidency for 2024. In his speech, the minister stated that the escalation and spread of global conflicts have put pressure on international cooperation and weakened the credibility and trust in the multilateral framework.
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in com.sa: The royal decree heralds February as a month of reflection, celebrating the commencement of Imam Muhammad Bin Sauds reign and his pivotal role in establishing the first Saudi State. This era, beginning in the heart of the 18th century, was characterized by its commitment to the teachings of the Holy Qur’an and the Sunnah of Prophet Muhammad (peace be upon him), guiding the nation towards unity and security amidst a landscape marred by disunity and division.
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in bloomberg.com: Saudi Arabia’s sovereign wealth fund is seeking to acquire a stake in the kingdom’s biggest construction conglomerate as it leans on local firms to build key mega-projects and infrastructure needed to host showcase events such as the World Expo. The Public Investment Fund is working with Morgan Stanley on a potential deal to buy into Saudi Binladin Group, according to people with knowledge of the matter. The PIF, as the $700 billion wealth fund is known, is considering acquiring part or all of the 36% stake owned by the ministry of finance, the people said, asking not to be identified because the discussions are private.
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MORE ON THE KINGDOM AND BEYOND
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More than 200,000 people converged at the conference, including Adam Selipsky, chief executive of Amazon’s cloud computing division, who ...[By Adam Satariano and Paul Mozur via nytimes.com]
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Diriyah Gate, one of the first Saudi giga-projects, said this week that it was on target for completion by late 2027.
The opening of the project’s...[By Andrew Hammond via agbi.com]
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His comment is significant because, like LIV Golf’s team competition and shotgun starts, the...[By Cindy Boren via washingtonpost.com]
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The recently released book “Battleground – 10 Conflicts that Explain the New Middle East” by historian Christopher Phillips provides a useful overview of ten ongoing conflicts...[By Christopher Phillips via thecipherbrief.com]
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A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse...[By Larry Elliott via theguardian.com]
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The regional upswing also defies oil production cutbacks which have all weighed on economic growth in the region as seen from International Monetary Fund’s latest...[By Issac John via khaleejtimes.com]
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Speaking at the event titled “Industrial policies to promote economic diversification,” the top official said there have been fundamental changes in the legislative and economic regulations to...[via arabnews.com]
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From April 22 to 25, 2024, the 26th World Energy Congress convened in the Netherlands, drawing participation from the Kingdom of Saudi Arabia’s energy industry....[By Pooja Chandak via solarquarter.com]
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Henning Larsen Architect has just revealed the designs for The Jeddah Opera House, a new local landmark in Saudi Arabia. Drawing inspiration from the historical...[By Nour Fakharany via archdaily.com]
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One of Saudi Arabia's top universities has announced a Red Sea project described as the world’s largest coral reef restoration.
...[By Daniel Bardsley via thenationalnews.com]
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The National Debt Management Center announces the closure of April 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated was...[via mof.gov]
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The month-on-month decline in imports from Russia comes amid lower discounts offered by Russia. Russia has been the largest source of crude for...[By Rituraj Baruah via livemint.com]
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Two major U.S. law firms are opening offices in Saudi Arabia following a change last year in...[By David Thomas via reuters.com]
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Spending on the information and communication technology (ICT) market in Saudi Arabia is expected to reach about $37.4 billion by the end of 2024, showing...[via argaam.com]
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Set within the landmark Mediateca Santa Teresa library in Milan’s Brera district, Design Space AlUla presented a smattering of projects...[By Ryan Waddoups via surfacemag.com]
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Today marks the eight-year anniversary of Saudi Arabia’s Vision 2030, an ambitious blueprint aimed at transforming the Kingdom into a...[via arabianbusiness.com]
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More than halfway through its "Saudi Vision 2030" journey, Saudi Arabia has demonstrated notable progress, with 87% of the 1,064 initiatives either completed or advancing...[via saudigazette.com]
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Israeli bombs on Rafah flattened a mosque and destroyed homes in what residents called one of their worst nights yet, while the Hamas chief was...[By Ibraheem Abu Mustafa and Nidal Al-Mughrabi via reuters.com]
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For quite some time after the war began, Israel refused to even conceive of a postwar plan. Some sources told me that preparations are getting...[By Zack Beauchamp via vox.com]
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Global debt levels hit a new record high of $313 trillion in 2023, with developing economies scaling a fresh peak for the ratio of debt...[By Jorgelina Do Rosario via reuters.com]
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Russia’s full-scale invasion of Ukraine on February 24, 2022 has reverberated throughout the global energy landscape, significantly impacting both energy security and the ongoing transition...[via atlanticcouncil.org]
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