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“The country will require $640 billion in construction spending over the next five years based on the current pipeline of projects, according to data compiled by Dubai-based analysis firm MEED Projects. That suggests banks may need to come up with almost $384 billion over that period if they fund 60% of the pipeline, using a mix of more deposits and debt.” Christine Burke, Saudi Arabia banks embark on record bond binge for mega-projects [Bloomberg]

TOP STORY

Saudi Aramco to Expand Huge Gas Plant as Global Demand Surges and Market Dynamics Shift

Saudi Aramco is moving ahead with plans to expand the Fadhili gas processing facility in the kingdom’s Eastern Province as part of its strategy to tap vast and under-developed gas resources within Saudi Arabia, according to a report in Bloomberg. [more]

MORE TOP STORYLINES

White House's Sullivan traveling to Saudi Arabia for talks with MBS

Via Steve Holland in reuters.com: White House national security adviser Jake Sullivan plans to travel to Saudi Arabia this week for talks with Crown Prince Mohammed bin Salman amid a U.S. push for progress toward normalizing relations between Israel and Saudi Arabia.

Talks on normalization had been put on ice in the immediate aftermath of the Oct. 7 attack by Palestinian Hamas fighters on southern Israel and Israel’s subsequent assault on Hamas-ruled Gaza, but conversations have resumed in recent months.

The Impact of the Saudi Civil Transactions Law on Major Project Delivery

in kirkland.com: It is evidently essential for the success of Vision2030 that its two fundamental strategies — major project delivery and legislative reform — are implemented interdependently and cohesively. In this context, the purpose of this note is to assess the potential impact of the Kingdom’s latest and most ambitious legislative reform to date — the Civil Transactions Law

Saudi Arabia condemns targeting of Iranian consulate in Syria

in arabnews.com: Saudi Arabia has condemned the targeting of the Iranian consulate building in the Syrian capital Damascus, a foreign ministry statement said early Tuesday. On Monday, suspected Israeli warplanes bombed Iran’s consulate in Syria, a marked escalation in a war pitting Israel against its regional adversaries, and Tehran said the strike killed seven military advisers including three senior commanders.

US Secretary of State to travel to Jordan, Israel after Saudi Arabia visit

US Secretary of State Antony Blinken will visit Israel and Jordan on a trip through Wednesday, the State Department announced, after...[via alarabiya.net]

Saudi, US top diplomats discuss Gaza crisis in Riyadh

Saudi Foreign Minister Prince Faisal bin Farhan and US Secretary of State Antony Blinken discussed on Monday the importance of reaching an “immediate ceasefire” in the...[By Ghinwa Obeid via alarabiya.net]

Saudi FM: Commitment to two-state solution only way to prevent Gaza war reoccurring

Only a real commitment to a two-state solution to the Palestinian-Israeli conflict can prevent the war in Gaza from reoccurring, Saudi Foreign Minister Prince Faisal...[By Zaynab Khoji via arabnews.com]

Saudi Arabia and the Bill & Melinda Gates Foundation Announce Landmark Push to Eradicate Polio and Lift Millions out of Poverty

Saudi Arabia and the Bill & Melinda Gates Foundation today pledged to work together to help protect 370 million children annually from polio and lift...[via reliefweb.int]

World Economic Forum Convenes Special Meeting in Riyadh on Global Collaboration, Growth and Energy for Development

With geopolitical upheavals and complex economic challenges destabilizing a fractured world, the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development...[via weforum.org]

Host Saudi Tells Global Economic Summit The World Has Failed Gaza

Saudi Arabia on Sunday said the international community has failed Gaza and reiterated its call for a Palestinian state at a global economic summit attended...[via barrons.com]

Saudi Finance Minister Warns Geopolitics Is Top Economy Risk

Jadaan also called on leaders to “do everything we can” to de-escalate, echoing comments more broadly made by Saudi government officials around...[By Joumanna Bercetche and Mirette Magdy via bloomberg.com]

Long-term plans of Saudi Vision 2030 support economic flexibility: Al-Jadaan

“Saudi Vision 2030’s objectives are on track at 87%”, the Saudi minister assured, indicating that there is still a bundle of challenges that requires modifying some projects, accelerating...[via eyeofriyadh.com]

Saudi Tadawul shareholders approve 23% dividend for 2023

Saudi Tadawul Group’s shareholders approved the payment of a cash dividend at 23% of capital, or SAR 2.30 a share, for 2023, during the...[via argaam.com]

What are the Saudi Festival Seasons?

The Saudi Seasons, a series of festivals held at different locations in the Kingdom throughout the year, attracts visitors from all over...[By Emilie Davies via linkedin.com]

Host Saudi tells global economic summit the world has failed Gaza

Speaking in Riyadh, Palestinian president Mahmud Abbas said the United States "is the only country capable" of preventing Israel's long-feared invasion of Rafah city in...[By Robbie Corey-Boulet and Haitham El-Tabei via al-monitor.com]

Graham expects Biden will have GOP support if he strikes Israel-Saudi deal

“I’m here on national television telling the Biden administration, if you can land this deal I think you’ll have a lot of Republican...[By Kelly Garrity via politico.com]

Saudi government mandates national dress for civil servants to showcase national identity

Saudi Arabia has introduced a new regulation mandating the national dress for government employees as a sign of pride in the country’s identity. According...[By Khitam Al Amir via gulfnews.com]

Saudi FM leads Gaza committee urging sanctions on Israel

Ministers gathering in Riyadh to discuss the Israeli war on the Gaza Strip stressed the urgent need for imposing sanctions on Israel, the Saudi Press Agency reported...[via arabnews.com]

Saudi Arabia’s NEOM secures $2.7 billion new financing facility

NEOM, a unit of the kingdom’s sovereign wealth fund, secured a new revolving credit facility (RCF) worth...[By Shamsuddin Mohd via reuters.com]

Saudi Arabia may ‘scale back some Vision 2030 projects and speed up others’

Saudi Arabia’s Finance Minister Mohammed Al Jadaan on Sunday said the kingdom would adapt to current economic and geopolitical challenges and...[By John Benny and Salim A. Essaid via thenationalnews.com]

Saudi Arabia embraces AI to revolutionize healthcare and industry, says minister at WEF

Saudi Minister of Communications and Information Technology, Abdullah Al Swaha, emphasized the transformative shift humanity is undergoing towards artificial intelligence (AI), during a session at...[via saudigazette.com]

Saudi Arabia set on securing lithium for EV ambitions

Saudi Arabia is committed to sourcing lithium from overseas as it looks to produce EV batteries and...[By Pesha Magid via reuters.com]

Iran says Israel bombs its embassy in Syria, kills commanders

Suspected Israeli warplanes bombed Iran's embassy in Syria on Monday in a strike that Iran said killed...[By Firas Makdesi via reuters.com]

Israeli airstrike on Gaza kills seven working for food aid NGO

Citizens from Australia, Britain and Poland were among seven people working for celebrity chef Jose Andres' World...[By Nidal Al-Mughrabi via reuters.com]

‘Israeli’ attack on Damascus consulate sparks calls for action in Iran

At least seven members of the Islamic Revolutionary Guard Corps (IRGC)—including two commanders—have been killed in a suspected Israeli attack in Syria. Apart from the...[via amwaj.media]

Opinion: America Has Pressured Israel Before—and Can Do It Again

The curious imbalance in the U.S.-Israel relationship has come into focus in recent weeks as the Biden administration slowly sharpens its criticism of Israel—and Israeli...[By Alia Brahimi via foreignpolicy.com]

Egypt’s Sisi starts third term pledging more investment, social spending

Egyptian President Abdel Fattah al-Sisi was sworn in for his third term on Tuesday in the country's...[By Farah Saafan and Nafisa Eltahir via reuters.com]

Gaza war helps Iran repair image in region—but for how long?

Israel’s assault on Gaza has in some ways proven to be a boon for Iran, furthering some of its strategic objectives and boosting its reputation...[By Kelly Skinner via amwaj.media]