QUOTED

Quoted

“Changing economic and geopolitical dynamics are motivating both regions to forge new strategic partnerships. Central Asia is experiencing a period of unprecedented economic sovereignty as Russia’s invasion of Ukraine has weakened the country’s influence across the post-Soviet region. While China remains a major economic player in Central Asia, C5 countries are wary of becoming reliant on Chinese finance. Central Asian states see an opportunity to use new relationships to balance against their traditional partners and are aggressively seeking engagement with influential global powers.” Charly Ward, Central Asia: “Unprecedented” Collaboration Moves Beyond Oil [Caspian Policy Center]

TOP STORY

PIF Increases Investment in Lucid

Lucid

Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a regulatory filing with the U.S. securities regulator.

[more]

 

MORE TOP STORYLINES

Manga Productions Chief Essam Bukhary on Saudi Manga Craze and How Partnership With Japanese Studios Is the ‘Future of the Anime Industry’

Via Nick Vivarelli in variety.com:

Saudi Arabia, where popular anime characters such as “Captain Tsubasa” and “Dragon Ball” protagonist Son Goku have been engrained in the culture for decades, is taking its love affair with Japanese manga content to the next level.

In late March, just a few weeks after the death of “Dragon Ball” creator Akira Toriyama, it was announced that the world’s first theme park dedicated to the megahit Japanese manga and animation franchise will be built in Qiddiya, the massive entertainment and tourism project outside the Saudi capital of Riyadh through a joint venture between Qiddiya and Japan’s Toei Animation.

Perspective: What Western Media Won’t Tell You About A Women’s Saudi Arabia

Via Francesca Gilbard in sundialpress.co: The Saudi people are tired. Tired of having to justify themselves. Tired of having to defend their attitudes. Tired of a relentless and unforgiving West that seemingly can’t escape sensationalism nor overcome partiality. As a result of this fatigue, we, as outsiders, did not face confrontation or clash upon arriving in the Kingdom. For Saudis, their value system isn’t up for debate, which meant we were given a simple choice: listen or hide behind a veil of ignorance.

Cliff divers conquer Saudi Arabia’s rare fresh water supplies

in redbull.com: Catalin Preda from Romania and America’s David Colturi have become the first people to dive into the wadis of Saudi Arabia in a hike and dive experience through the rough and rugged natural landscape of Jazan province.

Set against the unique backdrop of the Wadis Lajab and Al-Rough in the kingdom’s Jazan province, the Romanian American duo explored the canyons, deep valleys, waterfalls and freshwater ponds deep enough to host fish and some incredible cliff dives.

 

MORE ON THE KINGDOM AND BEYOND

‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower

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]

 

Saudi giga-project Diriyah Gate targets 2027 completion

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]

 

Greg Norman ‘open-minded’ to altering LIV’s signature 54-hole format

His comment is significant because, like LIV Golf’s team competition and shotgun starts, the...[By Cindy Boren via washingtonpost.com]

 

Book Review: The Conflicts Shaping the Middle East

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]

 

Oil price could exceed $100 a barrel if Middle East conflict worsens, World Bank warns

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]

 

GCC’s project awards jump 20% to $45b despite geopolitical headwinds

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]

 

Saudi economy witnessing a fundamental shift, says minister

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]

 

Saudi Arabia Makes Strides In Global Energy Discourse At 26th World Energy Congress

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]

 

Henning Larsen Architects Reveals Jeddah Opera House in Saudi Arabia

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]

 

‘World’s largest’ coral-restoration project unveiled in Saudi Arabia

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]

 

NDMC closes the April 2024 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Program

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]

 

India’s oil imports from Russia drops 19% in February, Saudi Arabia 2nd largest supplier

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]

 

Two US law firms push into Saudi Arabia under new attorney rules

Two major U.S. law firms are opening offices in Saudi Arabia following a change last year in...[By David Thomas via reuters.com]

 

IDC expects Saudi Arabia’s ICT spending to hit $37.4B by 2024-end

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]

 

Saudi Arabia Makes It Clear They’re Taking Design Seriously

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]

 

Saudi Arabia marks Vision 2030’s 8-year anniversary

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]

 

Vision 2030: 87% of initiatives on track or completed

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]

 

Gaza hostage talks deadlock and spark U.S.-Israel blame game

U.S. officials, together with Qatari and Egyptian mediators, pushed hard in recent days for a deal, stressing it is the only way to reach a...[By Barak Ravid via axios.com]

 

Israel truce team leaves Doha, official blames Hamas for ‘dead end’

Israel has recalled its negotiators from Doha after deeming mediated talks on a Gaza truce "at a...[By Dan Williams via reuters.com]

 

Protecting Palestinians a moral imperative, Pentagon chief tells Israeli counterpart

U.S. Defense Secretary Lloyd Austin said on Tuesday it was a moral and strategic imperative to protect...[By Idrees Ali and Matt Spetalnick via reuters.com]

 

Majority in U.S. Now Disapprove of Israeli Action in Gaza

After narrowly backing Israel’s military action in Gaza in November, Americans now oppose the campaign by a solid margin. Fifty-five percent currently disapprove of Israel’s...[By Jeffrey Jones via gallup.com]

 

Does US deterrence work against Iran’s allies? Yes and no.

“What really shook them up  was the targeted killing of the logistics commander in Baghdad,” says Kenneth Katzman, a veteran Middle...[By Scott Peterson via csmonitor.com]

 

The Islamic State’s Afghanistan-based affiliate is emerging as a global menace

News of the recent horrific attack in Moscow by the Islamic State in Iraq and Syria—Khorasan Province (also known as ISIS-K) is putting a...[By Javed Ali via defenseone.com]

 

Russia struggles to collect oil payments as China, UAE, Turkey raise bank scrutiny

Russian oil firms face delays of up to several months to be paid for crude and fuel...[By Aizhu Chen via reuters.com]

 

Germany Blocked A Eurofighter Sale To Saudi Arabia, Then Lifted It. Will Berlin Do The Same With Turkey?

Turkey wants to buy 40 Eurofighters and was revealed in late 2023 to be in talks on a deal with the United...[By Paul Iddon via forbes.com]

 

US solar factories strike deal to produce ‘Made in USA’ panels

Two small solar manufacturers on Wednesday said they are joining forces to make panels that will enable...[By Nichola Groom via reuters.com]

 
 

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