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QUOTED
“Between 2018 and January 2024, Preqin data shows that the number of Saudi Arabia-based fund managers increased by 213%, or from 47 to 147.”
Saudi Arabian private capital increasingly focused on domestic growth in 2024 and beyond [Yahoo]
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TOP STORY
In Episode 125, the hosts welcome veteran columnist and analyst Hussein Ibish onto The 966 for his third appearance on the program to unpack the implications of Israel’s brutal war in Gaza and the shifting regional and global power dynamics since October 7th. [more]
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MORE TOP STORYLINES
Via Maha El Dahan and Alex Lawler in reuters.com: OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, giving extra support to the market amid concerns over global growth and rising output outside the group. Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said it would extend its voluntary cut of 1 million barrels per day (bpd) through the end of June, leaving its output at around 9 million bpd.
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Via Laura Rozen in substack.com: In the toughest remarks by the U.S. administration to date on Israeli restrictions that have contributed to a famine in Gaza, Vice President Kamala Harris on Sunday said there must be an immediate ceasefire in Gaza for at least the next six weeks, called the humanitarian situation in Gaza a “catastrophe,” and said there should be no more excuses from Israel for unnecessary restrictions on humanitarian aid.
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in apnews.com: Joaquin Niemann won his second LIV Golf title in three starts, closing with a 4-under 66 on Sunday at LIV Golf Jeddah for a four-shot victory over Louis Oosthuizen and Charl Schwartzel. Niemann now has three wins in the last three months, starting with the Australian Open victory in December that allowed him to rejoin the European tour and eventually put him on the path toward getting invited to the Masters.
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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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U.S. Vice President Kamala Harris bluntly called out Israel on Sunday for not doing enough to ease a "humanitarian catastrophe" in Gaza as the Biden...[By Jeff Mason via reuters.com]
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Vice President Kamala Harris on Monday is hosting a member of Israel’s wartime Cabinet who is visiting Washington in defiance of Israeli Prime Minister Benjamin...[By Aamer Madhani and Seung Min Kim via apnews.com]
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The US said on Saturday it had carried out the first airdrop of humanitarian aid into Gaza, with more than 30,000 meals parachuted from military...[via middleeastmonitor.com]
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Americans’ opinions of both Israel and the Palestinian Authority have worsened in the past year amid escalating tensions between the two sides since last fall....[By Jeffrey Jones via gallup.com]
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Iran’s decision to reduce its stockpile of near bomb-grade uranium in favor of producing a specialized fuel for advanced civil nuclear reactors may be a...[By Jonathan Tirone via bloomberg.com]
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In Israel’s war in Gaza, Qatar has played an integral role as a mediator, leveraging its long-term contacts with Hamas. Playing a role procuring hostages...[By David B. Roberts via agsiw.org]
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CNN's Eleni Giokos sits down with Jihad Azour, director of the IMF's Middle East and Central Asia department, who explains how youth are shaping economies...[via cnn.com]
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The biggest transformation of the auto industry in a century is underway, as governments offer massive subsidies to speed up the shift to electric vehicles....[By Stefan Nicola and Linda Lew via bloomberg.com]
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Right now, the absence of a gas gusher is the main factor holding back geological hydrogen, a promising fuel that few had given any thought...[By David Fickling via bloomberg.com]
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They are among the wonders of our deserts: star dunes, the vaguely pyramid-shaped sand formations up to about 1,000 feet (300 meters) tall with arms...[By Will Dunham via reuters.com]
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Shehbaz Sharif, returning as Pakistan's prime minister for a second time on Sunday when his brother declined a fourth term, has played a crucial role...[via reuters.com]
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